| 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, 2017 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
Corporate debt securities |
$ |
966,542 |
|
|
$ |
723 |
|
|
$ |
(1,530 |
) |
|
$ |
965,735 |
|
Money market funds and other |
923,316 |
|
|
— |
|
|
— |
|
|
923,316 |
|
Sovereign securities |
14,558 |
|
|
1 |
|
|
(28 |
) |
|
14,531 |
|
U.S. Government agency securities |
363,751 |
|
|
31 |
|
|
(1,586 |
) |
|
362,196 |
|
U.S. Treasury securities |
382,824 |
|
|
21 |
|
|
(1,484 |
) |
|
381,361 |
|
Subtotal |
2,650,991 |
|
|
776 |
|
|
(4,628 |
) |
|
2,647,139 |
|
Add: Time deposits(1)
|
49,316 |
|
|
— |
|
|
— |
|
|
49,316 |
|
Less: Cash equivalents |
960,668 |
|
|
— |
|
|
— |
|
|
960,668 |
|
Marketable securities |
$ |
1,739,639 |
|
|
$ |
776 |
|
|
$ |
(4,628 |
) |
|
$ |
1,735,787 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2017 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
Corporate debt securities |
$ |
1,120,548 |
|
|
$ |
598 |
|
|
$ |
(1,951 |
) |
|
$ |
1,119,195 |
|
Money market funds and other |
616,039 |
|
|
— |
|
|
— |
|
|
616,039 |
|
Sovereign securities |
52,621 |
|
|
— |
|
|
(56 |
) |
|
52,565 |
|
U.S. Government agency securities |
510,553 |
|
|
62 |
|
|
(1,789 |
) |
|
508,826 |
|
U.S. Treasury securities |
374,676 |
|
|
52 |
|
|
(1,429 |
) |
|
373,299 |
|
Subtotal |
2,674,437 |
|
|
712 |
|
|
(5,225 |
) |
|
2,669,924 |
|
Add: Time deposits(1)
|
39,389 |
|
|
— |
|
|
— |
|
|
39,389 |
|
Less: Cash equivalents |
845,639 |
|
|
— |
|
|
(15 |
) |
|
845,624 |
|
Marketable securities |
$ |
1,868,187 |
|
|
$ |
712 |
|
|
$ |
(5,210 |
) |
|
$ |
1,863,689 |
|
________________
|
|
(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, 2017 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
Corporate debt securities |
$ |
581,581 |
|
|
$ |
(1,530 |
) |
U.S. Government agency securities |
341,545 |
|
|
(1,586 |
) |
U.S. Treasury securities |
361,406 |
|
|
(1,484 |
) |
Sovereign securities |
12,534 |
|
|
(28 |
) |
Total |
$ |
1,297,066 |
|
|
$ |
(4,628 |
) |
__________________
|
|
(1) |
As of September 30, 2017, the amount of total gross unrealized losses related to investments that had been in a continuous loss position for 12 months or more was $1.5 million.
|
|
| 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, 2017 (In thousands) |
Amortized Cost |
|
Fair Value |
Due within one year |
$ |
497,313 |
|
|
$ |
496,788 |
|
Due after one year through three years |
1,242,326 |
|
|
1,238,999 |
|
|
$ |
1,739,639 |
|
|
$ |
1,735,787 |
|
|