| Schedule of Amortized Cost and Fair Value of Fixed Income Marketable Securities |
The amortized cost and fair value of our fixed income marketable securities as of the dates indicated below were as follows:
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| As of June 30, 2026 (In thousands) |
Amortized Cost |
|
Gross Unrealized Gains |
|
Gross Unrealized Losses |
|
Fair Value |
| Corporate debt securities |
$ |
1,304,718 |
|
|
$ |
1,123 |
|
|
$ |
(2,316) |
|
|
$ |
1,303,525 |
|
| Money market funds and other |
1,233,035 |
|
|
— |
|
|
— |
|
|
1,233,035 |
|
| Municipal securities |
23,417 |
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|
12 |
|
|
(10) |
|
|
23,419 |
|
| Sovereign securities |
40,245 |
|
|
— |
|
|
(27) |
|
|
40,218 |
|
| U.S. Government agency securities |
75,848 |
|
|
81 |
|
|
(187) |
|
|
75,742 |
|
| U.S. Treasury securities |
1,363,089 |
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|
266 |
|
|
(7,644) |
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|
1,355,711 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Subtotal |
4,040,352 |
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|
1,482 |
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|
(10,184) |
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|
4,031,650 |
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Add: Time deposits(1)
|
490,231 |
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|
— |
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|
— |
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|
490,231 |
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| Less: Cash equivalents |
1,316,087 |
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|
— |
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|
— |
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|
1,316,087 |
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Marketable securities(2)
|
$ |
3,214,496 |
|
|
$ |
1,482 |
|
|
$ |
(10,184) |
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|
$ |
3,205,794 |
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|
|
|
|
|
|
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| As of June 30, 2025 (In thousands) |
Amortized Cost |
|
Gross Unrealized Gains |
|
Gross Unrealized Losses |
|
Fair Value |
| Corporate debt securities |
$ |
957,256 |
|
|
$ |
4,456 |
|
|
$ |
(66) |
|
|
$ |
961,646 |
|
| Money market funds and other |
1,531,022 |
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|
— |
|
|
— |
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|
1,531,022 |
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| Municipal securities |
57,445 |
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|
129 |
|
|
(1) |
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|
57,573 |
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|
|
|
|
|
|
|
|
| U.S. Government agency securities |
116,436 |
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|
458 |
|
|
(58) |
|
|
116,836 |
|
| U.S. Treasury securities |
885,101 |
|
|
2,787 |
|
|
(329) |
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|
887,559 |
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|
|
|
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| Subtotal |
3,547,260 |
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|
7,830 |
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(454) |
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|
3,554,636 |
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Add: Time deposits(1)
|
478,191 |
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|
— |
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|
— |
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|
478,191 |
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| Less: Cash equivalents |
1,641,074 |
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|
1 |
|
|
(1) |
|
|
1,641,074 |
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Marketable securities(2)
|
$ |
2,384,377 |
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|
$ |
7,829 |
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|
$ |
(453) |
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|
$ |
2,391,753 |
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__________________
(1)Time deposits excluded from fair value measurements.
(2)Excludes equity marketable securities.
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| Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value |
The following table summarizes the fair value and gross unrealized losses of our investments that were in an unrealized loss position as of the dates indicated below:
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|
|
|
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|
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|
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| As of June 30, 2026 |
Less than 12 Months |
|
12 Months or Greater |
|
Total |
| (In thousands) |
Fair Value |
|
Gross Unrealized Losses |
|
Fair Value |
|
Gross Unrealized Losses |
|
Fair Value |
|
Gross Unrealized Losses |
| Corporate debt securities |
$ |
703,303 |
|
|
$ |
(2,316) |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
703,303 |
|
|
$ |
(2,316) |
|
| Municipal securities |
9,957 |
|
|
(10) |
|
|
— |
|
|
— |
|
|
9,957 |
|
|
(10) |
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| Sovereign securities |
37,200 |
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|
(27) |
|
|
— |
|
|
— |
|
|
37,200 |
|
|
(27) |
|
| U.S. Government agency securities |
47,855 |
|
|
(187) |
|
|
— |
|
|
— |
|
|
47,855 |
|
|
(187) |
|
| U.S. Treasury securities |
1,185,956 |
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|
(7,644) |
|
|
— |
|
|
— |
|
|
1,185,956 |
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|
(7,644) |
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| Total |
$ |
1,984,271 |
|
|
$ |
(10,184) |
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|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,984,271 |
|
|
$ |
(10,184) |
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|
|
|
|
|
|
|
|
|
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|
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| As of June 30, 2025 |
Less than 12 Months |
|
12 Months or Greater |
|
Total |
| (In thousands) |
Fair Value |
|
Gross Unrealized Losses |
|
Fair Value |
|
Gross Unrealized Losses |
|
Fair Value |
|
Gross Unrealized Losses |
| Corporate debt securities |
$ |
98,149 |
|
|
$ |
(63) |
|
|
$ |
2,528 |
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|
$ |
(3) |
|
|
$ |
100,677 |
|
|
$ |
(66) |
|
| Municipal securities |
5,774 |
|
|
(1) |
|
|
— |
|
|
— |
|
|
5,774 |
|
|
(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
32,780 |
|
|
(58) |
|
|
— |
|
|
— |
|
|
32,780 |
|
|
(58) |
|
| U.S. Treasury securities |
238,627 |
|
|
(297) |
|
|
20,330 |
|
|
(32) |
|
|
258,957 |
|
|
(329) |
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| Total |
$ |
375,330 |
|
|
$ |
(419) |
|
|
$ |
22,858 |
|
|
$ |
(35) |
|
|
$ |
398,188 |
|
|
$ |
(454) |
|
|
| Schedule of Contractual Maturities of Securities |
The contractual maturities of securities classified as available-for-sale, regardless of their classification on our Consolidated Balance Sheets, as of the date indicated below were as follows:
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| As of June 30, 2026 (In thousands) |
Amortized Cost |
|
Fair Value |
| Due within one year |
$ |
1,468,388 |
|
|
$ |
1,468,438 |
|
| Due after one year through three years |
1,746,108 |
|
|
1,737,356 |
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| Total |
$ |
3,214,496 |
|
|
$ |
3,205,794 |
|
|