| Schedule of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of March 31, 2024 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
| Corporate debt securities |
$ |
767,413 |
|
|
$ |
1,646 |
|
|
$ |
(1,923) |
|
|
$ |
767,136 |
|
| Money market funds and other |
1,091,385 |
|
|
— |
|
|
— |
|
|
1,091,385 |
|
|
|
|
|
|
|
|
|
| Municipal securities |
40,271 |
|
|
64 |
|
|
(208) |
|
|
40,127 |
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
93,382 |
|
|
57 |
|
|
(231) |
|
|
93,208 |
|
| U.S. Treasury securities |
764,664 |
|
|
180 |
|
|
(3,729) |
|
|
761,115 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
2,757,115 |
|
|
1,947 |
|
|
(6,091) |
|
|
2,752,971 |
|
Add: Time deposits(1)
|
1,054,499 |
|
|
— |
|
|
— |
|
|
1,054,499 |
|
| Less: Cash equivalents |
1,390,596 |
|
|
— |
|
|
(1) |
|
|
1,390,595 |
|
Marketable securities(2)
|
$ |
2,421,018 |
|
|
$ |
1,947 |
|
|
$ |
(6,090) |
|
|
$ |
2,416,875 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
2,471,232 |
|
|
66 |
|
|
(16,350) |
|
|
2,454,948 |
|
Add: Time deposits(1)
|
471,439 |
|
|
— |
|
|
— |
|
|
471,439 |
|
| Less: Cash equivalents |
1,629,248 |
|
|
4 |
|
|
— |
|
|
1,629,252 |
|
Marketable securities(2)
|
$ |
1,313,423 |
|
|
$ |
62 |
|
|
$ |
(16,350) |
|
|
$ |
1,297,135 |
|
________________
(1) Time deposits excluded from fair value measurements.
(2) Excludes equity marketable securities.
|
| 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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|
|
| As of March 31, 2024 |
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 |
$ |
295,694 |
|
|
$ |
(823) |
|
|
$ |
81,327 |
|
|
$ |
(1,100) |
|
|
$ |
377,021 |
|
|
$ |
(1,923) |
|
| Municipal securities |
13,938 |
|
|
(91) |
|
|
8,088 |
|
|
(117) |
|
|
22,026 |
|
|
(208) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
54,739 |
|
|
(227) |
|
|
2,517 |
|
|
(4) |
|
|
57,256 |
|
|
(231) |
|
| U.S. Treasury securities |
460,112 |
|
|
(1,521) |
|
|
141,125 |
|
|
(2,208) |
|
|
601,237 |
|
|
(3,729) |
|
| Total |
$ |
824,483 |
|
|
$ |
(2,662) |
|
|
$ |
233,057 |
|
|
$ |
(3,429) |
|
|
$ |
1,057,540 |
|
|
$ |
(6,091) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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 March 31, 2024 (In thousands) |
Amortized Cost |
|
Fair Value |
| Due within one year |
$ |
1,566,845 |
|
|
$ |
1,564,521 |
|
| Due after one year through three years |
854,173 |
|
|
852,354 |
|
| Total |
$ |
2,421,018 |
|
|
$ |
2,416,875 |
|
|