| 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, 2019 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
Corporate debt securities |
$ |
419,980 |
|
|
$ |
430 |
|
|
$ |
(113 |
) |
|
$ |
420,297 |
|
Money market funds and other |
399,036 |
|
|
— |
|
|
— |
|
|
399,036 |
|
Municipal securities |
1,899 |
|
|
7 |
|
|
— |
|
|
1,906 |
|
Sovereign securities |
6,014 |
|
|
3 |
|
|
(3 |
) |
|
6,014 |
|
U.S. Government agency securities |
104,391 |
|
|
10 |
|
|
(72 |
) |
|
104,329 |
|
U.S. Treasury securities |
230,632 |
|
|
120 |
|
|
(238 |
) |
|
230,514 |
|
Subtotal |
1,161,952 |
|
|
570 |
|
|
(426 |
) |
|
1,162,096 |
|
Add: Time deposits(1)
|
85,902 |
|
|
— |
|
|
— |
|
|
85,902 |
|
Less: Cash equivalents |
484,824 |
|
|
— |
|
|
— |
|
|
484,824 |
|
Marketable securities |
$ |
763,030 |
|
|
$ |
570 |
|
|
$ |
(426 |
) |
|
$ |
763,174 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2019 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
Corporate debt securities |
$ |
433,518 |
|
|
$ |
141 |
|
|
$ |
(582 |
) |
|
$ |
433,077 |
|
Money market funds and other |
352,708 |
|
|
— |
|
|
— |
|
|
352,708 |
|
Municipal securities |
1,910 |
|
|
3 |
|
|
— |
|
|
1,913 |
|
Sovereign securities |
6,001 |
|
|
1 |
|
|
(8 |
) |
|
5,994 |
|
U.S. Government agency securities |
159,454 |
|
|
5 |
|
|
(241 |
) |
|
159,218 |
|
U.S. Treasury securities |
208,058 |
|
|
39 |
|
|
(401 |
) |
|
207,696 |
|
Subtotal |
1,161,649 |
|
|
189 |
|
|
(1,232 |
) |
|
1,160,606 |
|
Add: Time deposits(1)
|
99,006 |
|
|
— |
|
|
— |
|
|
99,006 |
|
Less: Cash equivalents |
536,206 |
|
|
17 |
|
|
(2 |
) |
|
536,221 |
|
Marketable securities |
$ |
724,449 |
|
|
$ |
172 |
|
|
$ |
(1,230 |
) |
|
$ |
723,391 |
|
________________
(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 our investments that were in an unrealized loss position as of the date indicated below, $260.4 million of which were in a continuous loss position for 12 months or more:
|
|
|
|
|
|
|
|
|
As of September 30, 2019 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses
|
Corporate debt securities |
$ |
182,963 |
|
|
$ |
(112 |
) |
Sovereign securities |
1,997 |
|
|
(3 |
) |
U.S. Government agency securities |
79,082 |
|
|
(72 |
) |
U.S Treasury securities |
167,750 |
|
|
(239 |
) |
Total |
$ |
431,792 |
|
|
$ |
(426 |
) |
|
| Contractual Maturities of Securities |
The contractual maturities of securities classified as available-for-sale, regardless of their classification on our Condensed Consolidated Balance Sheets, as of the date indicated below were as follows:
|
|
|
|
|
|
|
|
|
As of September 30, 2019 (In thousands) |
Amortized Cost |
|
Fair Value |
Due within one year |
$ |
442,133 |
|
|
$ |
441,938 |
|
Due after one year through three years |
320,897 |
|
|
321,236 |
|
|
$ |
763,030 |
|
|
$ |
763,174 |
|
|