| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2013 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
U.S. Treasury securities |
$ |
168,354 |
|
|
$ |
70 |
|
|
$ |
(111 |
) |
|
$ |
168,313 |
|
U.S. Government agency securities |
751,314 |
|
|
614 |
|
|
(295 |
) |
|
751,633 |
|
Municipal securities |
107,740 |
|
|
92 |
|
|
(245 |
) |
|
107,587 |
|
Corporate debt securities |
1,166,754 |
|
|
2,967 |
|
|
(669 |
) |
|
1,169,052 |
|
Money market and other |
574,904 |
|
|
— |
|
|
— |
|
|
574,904 |
|
Sovereign securities |
36,442 |
|
|
15 |
|
|
(18 |
) |
|
36,439 |
|
Subtotal |
2,805,508 |
|
|
3,758 |
|
|
(1,338 |
) |
|
2,807,928 |
|
Add: Time deposits(1)
|
19,942 |
|
|
— |
|
|
— |
|
|
19,942 |
|
Less: Cash equivalents |
670,591 |
|
|
— |
|
|
— |
|
|
670,591 |
|
Marketable securities |
$ |
2,154,859 |
|
|
$ |
3,758 |
|
|
$ |
(1,338 |
) |
|
$ |
2,157,279 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2013 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
U.S. Treasury securities |
$ |
93,940 |
|
|
$ |
53 |
|
|
$ |
(206 |
) |
|
$ |
93,787 |
|
U.S. Government agency securities |
598,471 |
|
|
569 |
|
|
(1,009 |
) |
|
598,031 |
|
Municipal securities |
103,686 |
|
|
71 |
|
|
(302 |
) |
|
103,455 |
|
Corporate debt securities |
1,103,438 |
|
|
2,353 |
|
|
(2,466 |
) |
|
1,103,325 |
|
Money market and other |
817,608 |
|
|
— |
|
|
— |
|
|
817,608 |
|
Sovereign securities |
33,799 |
|
|
25 |
|
|
(19 |
) |
|
33,805 |
|
Subtotal |
2,750,942 |
|
|
3,071 |
|
|
(4,002 |
) |
|
2,750,011 |
|
Add: Time deposits(1)
|
43,413 |
|
|
— |
|
|
— |
|
|
43,413 |
|
Less: Cash equivalents |
859,933 |
|
|
— |
|
|
— |
|
|
859,933 |
|
Marketable securities |
$ |
1,934,422 |
|
|
$ |
3,071 |
|
|
$ |
(4,002 |
) |
|
$ |
1,933,491 |
|
________________
|
|
(1) |
Time deposits excluded from fair value measurements. |
|
| Investments with Gross Unrealized Losses |
The following table summarizes the fair value and gross unrealized losses of the Company’s investments that were in an unrealized loss position as of the date indicated below:
|
|
|
|
|
|
|
|
|
As of December 31, 2013 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
U.S. Treasury securities |
$ |
68,423 |
|
|
$ |
(111 |
) |
U.S. Government agency securities |
249,078 |
|
|
(295 |
) |
Municipal securities |
55,784 |
|
|
(245 |
) |
Corporate debt securities |
310,332 |
|
|
(669 |
) |
Sovereign securities |
21,238 |
|
|
(18 |
) |
Total |
$ |
704,855 |
|
|
$ |
(1,338 |
) |
__________________
|
|
(1) |
Of the total gross unrealized losses, the amount of total gross unrealized losses related to investments that had been in a continuous loss position for 12 months or more was immaterial.
|
|
| Contractual Maturities of Securities |
The contractual maturities of securities classified as available-for-sale, regardless of their classification on the Company's Condensed Consolidated Balance Sheet, as of the date indicated below were as follows:
|
|
|
|
|
|
|
|
|
As of December 31, 2013 (In thousands) |
Amortized Cost |
|
Fair Value |
Due within one year |
$ |
532,278 |
|
|
$ |
533,124 |
|
Due after one year through three years |
1,622,581 |
|
|
1,624,155 |
|
|
$ |
2,154,859 |
|
|
$ |
2,157,279 |
|
|