| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of March 31, 2018 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
Corporate debt securities |
$ |
905,363 |
|
|
$ |
132 |
|
|
$ |
(8,414 |
) |
|
$ |
897,081 |
|
Money market funds and other |
633,752 |
|
|
— |
|
|
— |
|
|
633,752 |
|
Sovereign securities |
17,823 |
|
|
(1 |
) |
|
(141 |
) |
|
17,681 |
|
U.S. Government agency securities |
316,223 |
|
|
14 |
|
|
(3,100 |
) |
|
313,137 |
|
U.S. Treasury securities |
428,375 |
|
|
5 |
|
|
(3,866 |
) |
|
424,514 |
|
Subtotal |
2,301,536 |
|
|
150 |
|
|
(15,521 |
) |
|
2,286,165 |
|
Add: Time deposits(1)
|
50,658 |
|
|
— |
|
|
— |
|
|
50,658 |
|
Less: Cash equivalents |
702,530 |
|
|
— |
|
|
(7 |
) |
|
702,523 |
|
Marketable securities |
$ |
1,649,664 |
|
|
$ |
150 |
|
|
$ |
(15,514 |
) |
|
$ |
1,634,300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 March 31, 2018 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
Corporate debt securities |
$ |
773,988 |
|
|
$ |
(8,407 |
) |
U.S. Treasury securities |
400,675 |
|
|
(3,866 |
) |
U.S. Government agency securities |
307,473 |
|
|
(3,100 |
) |
Sovereign securities |
17,682 |
|
|
(141 |
) |
Total |
$ |
1,499,818 |
|
|
$ |
(15,514 |
) |
__________________
|
|
(1) |
As of March 31, 2018, the amount of total gross unrealized losses related to investments that had been in a continuous loss position for 12 months or more was $6.3 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 March 31, 2018 (In thousands) |
Amortized Cost |
|
Fair Value |
Due within one year |
$ |
691,007 |
|
|
$ |
687,946 |
|
Due after one year through three years |
958,657 |
|
|
946,354 |
|
|
$ |
1,649,664 |
|
|
$ |
1,634,300 |
|
|