| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, 2016 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
U.S. Treasury securities |
$ |
271,546 |
|
|
$ |
514 |
|
|
$ |
(92 |
) |
|
$ |
271,968 |
|
U.S. Government agency securities |
423,741 |
|
|
426 |
|
|
(149 |
) |
|
424,018 |
|
Municipal securities |
3,008 |
|
|
1 |
|
|
— |
|
|
3,009 |
|
Corporate debt securities |
840,857 |
|
|
1,067 |
|
|
(599 |
) |
|
841,325 |
|
Money market and other |
581,240 |
|
|
— |
|
|
— |
|
|
581,240 |
|
Sovereign securities |
21,972 |
|
|
3 |
|
|
(4 |
) |
|
21,971 |
|
Subtotal |
2,142,364 |
|
|
2,011 |
|
|
(844 |
) |
|
2,143,531 |
|
Add: Time deposits(1)
|
30,546 |
|
|
— |
|
|
— |
|
|
30,546 |
|
Less: Cash equivalents |
645,783 |
|
|
— |
|
|
(2 |
) |
|
645,781 |
|
Marketable securities |
$ |
1,527,127 |
|
|
$ |
2,011 |
|
|
$ |
(842 |
) |
|
$ |
1,528,296 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2016 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
U.S. Treasury securities |
$ |
326,321 |
|
|
$ |
1,181 |
|
|
$ |
— |
|
|
$ |
327,502 |
|
U.S. Government agency securities |
404,889 |
|
|
830 |
|
|
(14 |
) |
|
405,705 |
|
Municipal securities |
5,014 |
|
|
2 |
|
|
— |
|
|
5,016 |
|
Corporate debt securities |
676,259 |
|
|
2,372 |
|
|
(157 |
) |
|
678,474 |
|
Money market and other |
626,156 |
|
|
— |
|
|
— |
|
|
626,156 |
|
Sovereign securities |
41,224 |
|
|
38 |
|
|
(5 |
) |
|
41,257 |
|
Subtotal |
2,079,863 |
|
|
4,423 |
|
|
(176 |
) |
|
2,084,110 |
|
Add: Time deposits(1)
|
77,131 |
|
|
— |
|
|
— |
|
|
77,131 |
|
Less: Cash equivalents |
778,451 |
|
|
1 |
|
|
(17 |
) |
|
778,435 |
|
Marketable securities |
$ |
1,378,543 |
|
|
$ |
4,422 |
|
|
$ |
(159 |
) |
|
$ |
1,382,806 |
|
________________
|
|
(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 September 30, 2016 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
Corporate debt securities |
$ |
372,827 |
|
|
$ |
(597 |
) |
U.S. Government agency securities |
126,547 |
|
|
(149 |
) |
U.S. Treasury securities |
44,791 |
|
|
(92 |
) |
Sovereign securities |
13,036 |
|
|
(4 |
) |
Municipal securities |
2,006 |
|
|
— |
|
Total |
$ |
559,207 |
|
|
$ |
(842 |
) |
__________________
|
|
(1) |
As of September 30, 2016, 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 September 30, 2016 (In thousands) |
Amortized Cost |
|
Fair Value |
Due within one year |
$ |
531,572 |
|
|
$ |
531,730 |
|
Due after one year through three years |
995,555 |
|
|
996,566 |
|
|
$ |
1,527,127 |
|
|
$ |
1,528,296 |
|
|