| 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, 2018 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
Corporate debt securities |
$ |
600,825 |
|
|
$ |
137 |
|
|
$ |
(5,866 |
) |
|
$ |
595,096 |
|
Money market funds and other |
1,118,051 |
|
|
— |
|
|
— |
|
|
1,118,051 |
|
Sovereign securities |
17,352 |
|
|
— |
|
|
(147 |
) |
|
17,205 |
|
U.S. Government agency securities |
269,824 |
|
|
10 |
|
|
(2,252 |
) |
|
267,582 |
|
U.S. Treasury securities |
292,203 |
|
|
— |
|
|
(3,292 |
) |
|
288,911 |
|
Subtotal |
2,298,255 |
|
|
147 |
|
|
(11,557 |
) |
|
2,286,845 |
|
Add: Time deposits(1)
|
25,842 |
|
|
— |
|
|
— |
|
|
25,842 |
|
Less: Cash equivalents |
1,181,895 |
|
|
— |
|
|
(2 |
) |
|
1,181,893 |
|
Marketable securities |
$ |
1,142,202 |
|
|
$ |
147 |
|
|
$ |
(11,555 |
) |
|
$ |
1,130,794 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2018 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
Corporate debt securities |
$ |
747,763 |
|
|
$ |
148 |
|
|
$ |
(7,508 |
) |
|
$ |
740,403 |
|
Money market funds and other |
863,115 |
|
|
— |
|
|
— |
|
|
863,115 |
|
Sovereign securities |
17,293 |
|
|
— |
|
|
(151 |
) |
|
17,142 |
|
U.S. Government agency securities |
326,508 |
|
|
16 |
|
|
(2,827 |
) |
|
323,697 |
|
U.S. Treasury securities |
411,329 |
|
|
3 |
|
|
(3,682 |
) |
|
407,650 |
|
Subtotal |
2,366,008 |
|
|
167 |
|
|
(14,168 |
) |
|
2,352,007 |
|
Add: Time deposits(1)
|
54,537 |
|
|
— |
|
|
— |
|
|
54,537 |
|
Less: Cash equivalents |
930,608 |
|
|
— |
|
|
— |
|
|
930,608 |
|
Marketable securities |
$ |
1,489,937 |
|
|
$ |
167 |
|
|
$ |
(14,168 |
) |
|
$ |
1,475,936 |
|
________________
(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, 2018 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
Corporate debt securities |
$ |
518,894 |
|
|
$ |
(5,866 |
) |
U.S. Treasury securities |
271,554 |
|
|
(3,291 |
) |
U.S. Government agency securities |
238,564 |
|
|
(2,251 |
) |
Sovereign securities |
17,205 |
|
|
(147 |
) |
Total |
$ |
1,046,217 |
|
|
$ |
(11,555 |
) |
__________________
(1) As of September 30, 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 $7.3 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 September 30, 2018 (In thousands) |
Amortized Cost |
|
Fair Value |
Due within one year |
$ |
650,451 |
|
|
$ |
645,992 |
|
Due after one year through three years |
491,751 |
|
|
484,802 |
|
|
$ |
1,142,202 |
|
|
$ |
1,130,794 |
|
|