| Schedule 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, 2023 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
| Corporate debt securities |
$ |
687,213 |
|
|
$ |
48 |
|
|
$ |
(6,016) |
|
|
$ |
681,245 |
|
| Money market funds and other |
1,077,456 |
|
|
— |
|
|
— |
|
|
1,077,456 |
|
|
|
|
|
|
|
|
|
| Municipal securities |
31,032 |
|
|
2 |
|
|
(556) |
|
|
30,478 |
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
134,563 |
|
|
— |
|
|
(876) |
|
|
133,687 |
|
| U.S. Treasury securities |
615,592 |
|
|
5 |
|
|
(7,637) |
|
|
607,960 |
|
Equity securities(1)
|
3,211 |
|
|
10,614 |
|
|
— |
|
|
13,825 |
|
|
|
|
|
|
|
|
|
| Subtotal |
2,549,067 |
|
|
10,669 |
|
|
(15,085) |
|
|
2,544,651 |
|
Add: Time deposits(2)
|
492,767 |
|
|
— |
|
|
— |
|
|
492,767 |
|
| Less: Cash equivalents |
1,399,666 |
|
|
1 |
|
|
— |
|
|
1,399,667 |
|
| Marketable securities |
$ |
1,642,168 |
|
|
$ |
10,668 |
|
|
$ |
(15,085) |
|
|
$ |
1,637,751 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2023 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
| Corporate debt securities |
$ |
508,511 |
|
|
$ |
52 |
|
|
$ |
(5,913) |
|
|
$ |
502,650 |
|
| Money market funds and other |
1,257,223 |
|
|
— |
|
|
— |
|
|
1,257,223 |
|
| Municipal securities |
32,525 |
|
|
— |
|
|
(737) |
|
|
31,788 |
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
134,486 |
|
|
4 |
|
|
(918) |
|
|
133,572 |
|
| U.S. Treasury securities |
538,487 |
|
|
10 |
|
|
(8,782) |
|
|
529,715 |
|
Equity securities(1)
|
3,211 |
|
|
14,948 |
|
|
— |
|
|
18,159 |
|
|
|
|
|
|
|
|
|
| Subtotal |
2,474,443 |
|
|
15,014 |
|
|
(16,350) |
|
|
2,473,107 |
|
Add: Time deposits(2)
|
471,439 |
|
|
— |
|
|
— |
|
|
471,439 |
|
| Less: Cash equivalents |
1,629,248 |
|
|
4 |
|
|
— |
|
|
1,629,252 |
|
| Marketable securities |
$ |
1,316,634 |
|
|
$ |
15,010 |
|
|
$ |
(16,350) |
|
|
$ |
1,315,294 |
|
________________
(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.
|
| Schedule of 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.
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|
|
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|
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|
|
|
|
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|
|
|
|
|
|
|
|
| As of September 30, 2023 |
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 |
$ |
463,017 |
|
|
$ |
(2,772) |
|
|
$ |
165,161 |
|
|
$ |
(3,244) |
|
|
$ |
628,178 |
|
|
$ |
(6,016) |
|
| Municipal securities |
11,480 |
|
|
(147) |
|
|
14,834 |
|
|
(409) |
|
|
26,314 |
|
|
(556) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
112,180 |
|
|
(736) |
|
|
19,667 |
|
|
(140) |
|
|
131,847 |
|
|
(876) |
|
| U.S. Treasury securities |
305,758 |
|
|
(2,456) |
|
|
249,795 |
|
|
(5,181) |
|
|
555,553 |
|
|
(7,637) |
|
| Total |
$ |
892,435 |
|
|
$ |
(6,111) |
|
|
$ |
449,457 |
|
|
$ |
(8,974) |
|
|
$ |
1,341,892 |
|
|
$ |
(15,085) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2023 |
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 |
$ |
310,613 |
|
|
$ |
(2,242) |
|
|
$ |
161,263 |
|
|
$ |
(3,671) |
|
|
$ |
471,876 |
|
|
$ |
(5,913) |
|
| Municipal securities |
9,011 |
|
|
(199) |
|
|
17,253 |
|
|
(538) |
|
|
26,264 |
|
|
(737) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
80,793 |
|
|
(459) |
|
|
36,406 |
|
|
(459) |
|
|
117,199 |
|
|
(918) |
|
| U.S. Treasury securities |
288,376 |
|
|
(4,117) |
|
|
183,475 |
|
|
(4,665) |
|
|
471,851 |
|
|
(8,782) |
|
| Total |
$ |
688,793 |
|
|
$ |
(7,017) |
|
|
$ |
398,397 |
|
|
$ |
(9,333) |
|
|
$ |
1,087,190 |
|
|
$ |
(16,350) |
|
|
| 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, 2023 (In thousands) |
Amortized Cost |
|
Fair Value |
| Due within one year |
$ |
846,346 |
|
|
$ |
852,255 |
|
| Due after one year through three years |
795,822 |
|
|
785,496 |
|
| Total |
$ |
1,642,168 |
|
|
$ |
1,637,751 |
|
|