| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of September 30, 2011 and June 30, 2011 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, 2011 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
U.S. Treasury securities |
$ |
70,916 |
|
|
$ |
306 |
|
|
$ |
(36 |
) |
|
$ |
71,186 |
|
U.S. Government agency securities |
343,721 |
|
|
749 |
|
|
(338 |
) |
|
344,132 |
|
Municipal securities |
40,075 |
|
|
266 |
|
|
(3 |
) |
|
40,338 |
|
Corporate debt securities |
830,229 |
|
|
3,688 |
|
|
(2,196 |
) |
|
831,721 |
|
Money market and other |
578,442 |
|
|
— |
|
|
— |
|
|
578,442 |
|
Sovereign securities |
32,283 |
|
|
132 |
|
|
(4 |
) |
|
32,411 |
|
Subtotal |
1,895,666 |
|
|
5,141 |
|
|
(2,577 |
) |
|
1,898,230 |
|
Add: Time deposits(1) |
45,117 |
|
|
— |
|
|
— |
|
|
45,117 |
|
Less: Cash equivalents |
589,143 |
|
|
— |
|
|
— |
|
|
589,143 |
|
Marketable securities |
$ |
1,351,640 |
|
|
$ |
5,141 |
|
|
$ |
(2,577 |
) |
|
$ |
1,354,204 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2011 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
U.S. Treasury securities |
$ |
58,754 |
|
|
$ |
165 |
|
|
$ |
(23 |
) |
|
$ |
58,896 |
|
U.S. Government agency securities |
319,375 |
|
|
931 |
|
|
(123 |
) |
|
320,183 |
|
Municipal securities |
38,688 |
|
|
275 |
|
|
(6 |
) |
|
38,957 |
|
Corporate debt securities |
870,591 |
|
|
5,162 |
|
|
(368 |
) |
|
875,385 |
|
Money market and other |
481,770 |
|
|
— |
|
|
— |
|
|
481,770 |
|
Sovereign securities |
31,932 |
|
|
179 |
|
|
(25 |
) |
|
32,086 |
|
Subtotal |
1,801,110 |
|
|
6,712 |
|
|
(545 |
) |
|
1,807,277 |
|
Add: Time deposits(1) |
65,402 |
|
|
— |
|
|
— |
|
|
65,402 |
|
Less: Cash equivalents |
545,475 |
|
|
— |
|
|
(2 |
) |
|
545,473 |
|
Marketable securities |
$ |
1,321,037 |
|
|
$ |
6,712 |
|
|
$ |
(543 |
) |
|
$ |
1,327,206 |
|
________________
|
|
(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 September 30, 2011:
|
|
|
|
|
|
|
|
|
(In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
U.S. Treasury securities |
$ |
25,868 |
|
|
$ |
(36 |
) |
U.S. Government agency securities |
134,278 |
|
|
(338 |
) |
Municipal securities |
1,443 |
|
|
(3 |
) |
Corporate debt securities |
280,339 |
|
|
(2,196 |
) |
Sovereign securities |
2,497 |
|
|
(4 |
) |
Total |
$ |
444,425 |
|
|
$ |
(2,577 |
) |
__________________
|
|
(1) |
As of September 30, 2011, the amount of total gross unrealized losses 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 as of September 30, 2011, regardless of their classification on the Company's Condensed Consolidated Balance Sheet, were as follows:
|
|
|
|
|
|
|
|
|
(In thousands) |
Amortized
Cost
|
|
Fair Value |
Due within one year |
$ |
320,316 |
|
|
$ |
321,151 |
|
Due after one year through three years |
1,031,324 |
|
|
1,033,053 |
|
|
$ |
1,351,640 |
|
|
$ |
1,354,204 |
|
|