| Unrealized Gain (Loss) on Investments |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of September 30, 2022 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
| Corporate debt securities |
$ |
476,396 |
|
|
$ |
9 |
|
|
$ |
(11,051) |
|
|
$ |
465,354 |
|
| Money market funds and other |
1,050,327 |
|
|
— |
|
|
— |
|
|
1,050,327 |
|
|
|
|
|
|
|
|
|
| Municipal securities |
50,374 |
|
|
— |
|
|
(1,403) |
|
|
48,971 |
|
| Sovereign securities |
6,034 |
|
|
— |
|
|
(55) |
|
|
5,979 |
|
| U.S. Government agency securities |
78,138 |
|
|
17 |
|
|
(1,453) |
|
|
76,702 |
|
| U.S. Treasury securities |
444,801 |
|
|
9 |
|
|
(12,592) |
|
|
432,218 |
|
Equity securities(1)
|
3,211 |
|
|
9,875 |
|
|
— |
|
|
13,086 |
|
|
|
|
|
|
|
|
|
| Subtotal |
2,109,281 |
|
|
9,910 |
|
|
(26,554) |
|
|
2,092,637 |
|
Add: Time deposits(2)
|
269,755 |
|
|
— |
|
|
— |
|
|
269,755 |
|
| Less: Cash equivalents |
1,228,151 |
|
|
1 |
|
|
— |
|
|
1,228,152 |
|
| Marketable securities |
$ |
1,150,885 |
|
|
$ |
9,909 |
|
|
$ |
(26,554) |
|
|
$ |
1,134,240 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2022 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
| Corporate debt securities |
$ |
481,881 |
|
|
$ |
3 |
|
|
$ |
(8,915) |
|
|
$ |
472,969 |
|
| Money market funds and other |
948,027 |
|
|
— |
|
|
— |
|
|
948,027 |
|
| Municipal securities |
61,973 |
|
|
— |
|
|
(1,249) |
|
|
60,724 |
|
| Sovereign securities |
6,041 |
|
|
2 |
|
|
(53) |
|
|
5,990 |
|
| U.S. Government agency securities |
92,273 |
|
|
26 |
|
|
(1,183) |
|
|
91,116 |
|
| U.S. Treasury securities |
378,871 |
|
|
18 |
|
|
(8,378) |
|
|
370,511 |
|
Equity securities(1)
|
3,211 |
|
|
7,824 |
|
|
— |
|
|
11,035 |
|
|
|
|
|
|
|
|
|
| Subtotal |
1,972,277 |
|
|
7,873 |
|
|
(19,778) |
|
|
1,960,372 |
|
Add: Time deposits(2)
|
274,873 |
|
|
— |
|
|
— |
|
|
274,873 |
|
| Less: Cash equivalents |
1,112,146 |
|
|
— |
|
|
(1) |
|
|
1,112,145 |
|
| Marketable securities |
$ |
1,135,004 |
|
|
$ |
7,873 |
|
|
$ |
(19,777) |
|
|
$ |
1,123,100 |
|
________________
(1) Unrealized gains on equity securities included in our portfolio include the initial fair value adjustment recorded upon a security becoming marketable.
(2) Time deposits excluded from fair value measurements.
|
| Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value |
The following table summarizes the fair value and gross unrealized losses of our investments that were in an unrealized loss position as of the dates indicated below.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of September 30, 2022 |
Less than 12 Months |
|
12 Months or Greater |
|
Total |
| (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses |
|
Fair Value |
|
Gross
Unrealized
Losses |
|
Fair Value |
|
Gross
Unrealized
Losses |
| Corporate debt securities |
$ |
405,334 |
|
|
$ |
(9,419) |
|
|
$ |
51,452 |
|
|
$ |
(1,632) |
|
|
$ |
456,786 |
|
|
$ |
(11,051) |
|
| Municipal securities |
33,165 |
|
|
(857) |
|
|
15,505 |
|
|
(546) |
|
|
48,670 |
|
|
(1,403) |
|
| Sovereign securities |
4,019 |
|
|
(12) |
|
|
1,960 |
|
|
(43) |
|
|
5,979 |
|
|
(55) |
|
| U.S. Government agency securities |
25,363 |
|
|
(322) |
|
|
29,225 |
|
|
(1,131) |
|
|
54,588 |
|
|
(1,453) |
|
| U.S. Treasury securities |
310,815 |
|
|
(9,310) |
|
|
107,359 |
|
|
(3,282) |
|
|
418,174 |
|
|
(12,592) |
|
| Total |
$ |
778,696 |
|
|
$ |
(19,920) |
|
|
$ |
205,501 |
|
|
$ |
(6,634) |
|
|
$ |
984,197 |
|
|
$ |
(26,554) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2022 (In thousands) |
Fair Value(1)
|
|
Gross
Unrealized
Losses(1)
|
| Corporate debt securities |
$ |
458,699 |
|
|
$ |
(8,915) |
|
| Municipal securities |
58,722 |
|
|
(1,249) |
|
| Sovereign securities |
2,963 |
|
|
(53) |
|
| U.S. Government agency securities |
60,285 |
|
|
(1,183) |
|
| U.S. Treasury securities |
336,819 |
|
|
(8,378) |
|
| Total |
$ |
917,488 |
|
|
$ |
(19,778) |
|
________________
(1) As of June 30, 2022, our investments that were in a continuous loss position of 12 months or more, as well as the
unrealized losses on those investments, were immaterial.
|
| Schedule of 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, 2022 (In thousands) |
Amortized Cost |
|
Fair Value |
| Due within one year |
$ |
601,307 |
|
|
$ |
602,657 |
|
| Due after one year through three years |
549,578 |
|
|
531,583 |
|
| Total |
$ |
1,150,885 |
|
|
$ |
1,134,240 |
|
|