| 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, 2011 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
U.S. Treasury securities |
$ |
71,098 |
|
|
$ |
207 |
|
|
$ |
(3 |
) |
|
$ |
71,302 |
|
U.S. Government agency securities |
448,963 |
|
|
692 |
|
|
(299 |
) |
|
449,356 |
|
Municipal securities |
41,286 |
|
|
188 |
|
|
(1 |
) |
|
41,473 |
|
Corporate debt securities |
719,442 |
|
|
3,464 |
|
|
(1,199 |
) |
|
721,707 |
|
Money market and other |
591,032 |
|
|
— |
|
|
— |
|
|
591,032 |
|
Sovereign securities |
36,167 |
|
|
73 |
|
|
(59 |
) |
|
36,181 |
|
Subtotal |
1,907,988 |
|
|
4,624 |
|
|
(1,561 |
) |
|
1,911,051 |
|
Add: Time deposits(1) |
73,193 |
|
|
— |
|
|
— |
|
|
73,193 |
|
Less: Cash equivalents |
632,585 |
|
|
— |
|
|
— |
|
|
632,585 |
|
Marketable securities |
$ |
1,348,596 |
|
|
$ |
4,624 |
|
|
$ |
(1,561 |
) |
|
$ |
1,351,659 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2011 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
U.S. Treasury securities |
$ |
58,754 |
|
|
$ |
165 |
|
|
$ |
(23 |
) |
|
$ |
58,896 |
|
U.S. Government agency securities |
319,375 |
|
|
931 |
|
|
(123 |
) |
|
320,183 |
|
Municipal securities |
38,688 |
|
|
275 |
|
|
(6 |
) |
|
38,957 |
|
Corporate debt securities |
870,591 |
|
|
5,162 |
|
|
(368 |
) |
|
875,385 |
|
Money market and other |
481,770 |
|
|
— |
|
|
— |
|
|
481,770 |
|
Sovereign securities |
31,932 |
|
|
179 |
|
|
(25 |
) |
|
32,086 |
|
Subtotal |
1,801,110 |
|
|
6,712 |
|
|
(545 |
) |
|
1,807,277 |
|
Add: Time deposits(1) |
65,402 |
|
|
— |
|
|
— |
|
|
65,402 |
|
Less: Cash equivalents |
545,475 |
|
|
— |
|
|
(2 |
) |
|
545,473 |
|
Marketable securities |
$ |
1,321,037 |
|
|
$ |
6,712 |
|
|
$ |
(543 |
) |
|
$ |
1,327,206 |
|
________________
|
|
(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, 2011 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
U.S. Treasury securities |
$ |
23,995 |
|
|
$ |
(3 |
) |
U.S. Government agency securities |
209,146 |
|
|
(299 |
) |
Municipal securities |
3,626 |
|
|
(1 |
) |
Corporate debt securities |
214,565 |
|
|
(1,199 |
) |
Sovereign securities |
14,110 |
|
|
(59 |
) |
Total |
$ |
465,442 |
|
|
$ |
(1,561 |
) |
__________________
|
|
(1) |
Of the total gross unrealized losses, there were no amounts that, as of December 31, 2011, had been in a continuous loss position for 12 months or more.
|
|
| 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, 2011 (In thousands) |
Amortized Cost |
|
Fair Value |
Due within one year |
$ |
327,355 |
|
|
$ |
328,390 |
|
Due after one year through three years |
1,021,241 |
|
|
1,023,269 |
|
|
$ |
1,348,596 |
|
|
$ |
1,351,659 |
|
|