| 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, 2016 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
Corporate debt securities |
$ |
936,011 |
|
|
$ |
205 |
|
|
$ |
(2,969 |
) |
|
$ |
933,247 |
|
Money market and other |
552,189 |
|
|
— |
|
|
— |
|
|
552,189 |
|
Municipal securities |
1,004 |
|
|
— |
|
|
— |
|
|
1,004 |
|
Sovereign securities |
58,129 |
|
|
1 |
|
|
(106 |
) |
|
58,024 |
|
U.S. Treasury securities |
312,438 |
|
|
71 |
|
|
(1,203 |
) |
|
311,306 |
|
U.S. Government agency securities |
380,532 |
|
|
57 |
|
|
(1,957 |
) |
|
378,632 |
|
Subtotal |
2,240,303 |
|
|
334 |
|
|
(6,235 |
) |
|
2,234,402 |
|
Add: Time deposits(1)
|
30,814 |
|
|
— |
|
|
— |
|
|
30,814 |
|
Less: Cash equivalents |
609,272 |
|
|
— |
|
|
— |
|
|
609,272 |
|
Marketable securities |
$ |
1,661,845 |
|
|
$ |
334 |
|
|
$ |
(6,235 |
) |
|
$ |
1,655,944 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2016 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
Corporate debt securities |
$ |
676,259 |
|
|
$ |
2,372 |
|
|
$ |
(157 |
) |
|
$ |
678,474 |
|
Money market and other |
626,156 |
|
|
— |
|
|
— |
|
|
626,156 |
|
Municipal securities |
5,014 |
|
|
2 |
|
|
— |
|
|
5,016 |
|
Sovereign securities |
41,224 |
|
|
38 |
|
|
(5 |
) |
|
41,257 |
|
U.S. Treasury securities |
326,321 |
|
|
1,181 |
|
|
— |
|
|
327,502 |
|
U.S. Government agency securities |
404,889 |
|
|
830 |
|
|
(14 |
) |
|
405,705 |
|
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 December 31, 2016 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
Corporate debt securities |
$ |
702,366 |
|
|
$ |
(2,969 |
) |
U.S. Government agency securities |
310,258 |
|
|
(1,957 |
) |
U.S. Treasury securities |
173,202 |
|
|
(1,203 |
) |
Sovereign securities |
43,433 |
|
|
(106 |
) |
Municipal securities |
1,004 |
|
|
— |
|
Total |
$ |
1,230,263 |
|
|
$ |
(6,235 |
) |
__________________
|
|
(1) |
As of December 31, 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 December 31, 2016 (In thousands) |
Amortized Cost |
|
Fair Value |
Due within one year |
$ |
673,708 |
|
|
$ |
673,484 |
|
Due after one year through three years |
988,137 |
|
|
982,460 |
|
|
$ |
1,661,845 |
|
|
$ |
1,655,944 |
|
|