| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2015 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value |
U.S. Treasury securities |
$ |
274,965 |
|
|
$ |
605 |
|
|
$ |
(15 |
) |
|
$ |
275,555 |
|
U.S. Government agency securities |
571,843 |
|
|
551 |
|
|
(126 |
) |
|
572,268 |
|
Municipal securities |
31,819 |
|
|
7 |
|
|
(10 |
) |
|
31,816 |
|
Corporate debt securities |
625,965 |
|
|
511 |
|
|
(515 |
) |
|
625,961 |
|
Money market and other |
611,385 |
|
|
— |
|
|
— |
|
|
611,385 |
|
Sovereign securities |
57,091 |
|
|
33 |
|
|
(31 |
) |
|
57,093 |
|
Subtotal |
2,173,068 |
|
|
1,707 |
|
|
(697 |
) |
|
2,174,078 |
|
Add: Time deposits(1)
|
29,941 |
|
|
— |
|
|
— |
|
|
29,941 |
|
Less: Cash equivalents |
654,933 |
|
|
— |
|
|
— |
|
|
654,933 |
|
Marketable securities |
$ |
1,548,076 |
|
|
$ |
1,707 |
|
|
$ |
(697 |
) |
|
$ |
1,549,086 |
|
|
|
|
|
|
|
|
|
As of June 30, 2014 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value |
U.S. Treasury securities |
$ |
384,165 |
|
|
$ |
287 |
|
|
$ |
(52 |
) |
|
$ |
384,400 |
|
U.S. Government agency securities |
867,309 |
|
|
651 |
|
|
(117 |
) |
|
867,843 |
|
Municipal securities |
96,198 |
|
|
93 |
|
|
(75 |
) |
|
96,216 |
|
Corporate debt securities |
1,220,794 |
|
|
3,526 |
|
|
(152 |
) |
|
1,224,168 |
|
Money market and other |
397,517 |
|
|
— |
|
|
— |
|
|
397,517 |
|
Sovereign securities |
42,227 |
|
|
46 |
|
|
(9 |
) |
|
42,264 |
|
Subtotal |
3,008,210 |
|
|
4,603 |
|
|
(405 |
) |
|
3,012,408 |
|
Add: Time deposits(1)
|
33,509 |
|
|
— |
|
|
— |
|
|
33,509 |
|
Less: Cash equivalents |
524,149 |
|
|
— |
|
|
(8 |
) |
|
524,141 |
|
Marketable securities |
$ |
2,517,570 |
|
|
$ |
4,603 |
|
|
$ |
(397 |
) |
|
$ |
2,521,776 |
|
__________________
(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 June 30, 2015 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
U.S. Treasury securities |
$ |
34,508 |
|
|
$ |
(15 |
) |
U.S. Government agency securities |
133,933 |
|
|
(126 |
) |
Municipal securities |
9,776 |
|
|
(10 |
) |
Corporate debt securities |
286,355 |
|
|
(515 |
) |
Sovereign securities |
26,729 |
|
|
(31 |
) |
Total |
$ |
491,301 |
|
|
$ |
(697 |
) |
__________________
|
|
(1) |
As of June 30, 2015, 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 Consolidated Balance Sheet, as of the date indicated below were as follows:
|
|
|
|
|
|
|
|
|
As of June 30, 2015 (In thousands) |
Amortized
Cost
|
|
Fair Value |
Due within one year |
$ |
496,916 |
|
|
$ |
497,121 |
|
Due after one year through three years |
1,051,160 |
|
|
1,051,965 |
|
|
$ |
1,548,076 |
|
|
$ |
1,549,086 |
|
|