| Schedule of Marketable Securities |
The amortized cost and fair value of our fixed income marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of March 31, 2025 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
| Corporate debt securities |
$ |
968,847 |
|
|
$ |
3,699 |
|
|
$ |
(98) |
|
|
$ |
972,448 |
|
| Money market funds and other |
1,275,947 |
|
|
— |
|
|
— |
|
|
1,275,947 |
|
|
|
|
|
|
|
|
|
| Municipal securities |
55,416 |
|
|
137 |
|
|
(13) |
|
|
55,540 |
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
95,736 |
|
|
369 |
|
|
(54) |
|
|
96,051 |
|
| U.S. Treasury securities |
800,978 |
|
|
2,301 |
|
|
(431) |
|
|
802,848 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
3,196,924 |
|
|
6,506 |
|
|
(596) |
|
|
3,202,834 |
|
Add: Time deposits(1)
|
340,461 |
|
|
— |
|
|
— |
|
|
340,461 |
|
| Less: Cash equivalents |
1,384,950 |
|
|
— |
|
|
— |
|
|
1,384,950 |
|
Marketable securities(2)
|
$ |
2,152,435 |
|
|
$ |
6,506 |
|
|
$ |
(596) |
|
|
$ |
2,158,345 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2024 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
| Corporate debt securities |
$ |
775,277 |
|
|
$ |
973 |
|
|
$ |
(2,018) |
|
|
$ |
774,232 |
|
| Money market funds and other |
1,585,832 |
|
|
— |
|
|
— |
|
|
1,585,832 |
|
| Municipal securities |
41,343 |
|
|
13 |
|
|
(197) |
|
|
41,159 |
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
106,101 |
|
|
26 |
|
|
(253) |
|
|
105,874 |
|
| U.S. Treasury securities |
754,505 |
|
|
209 |
|
|
(3,408) |
|
|
751,306 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
3,263,058 |
|
|
1,221 |
|
|
(5,876) |
|
|
3,258,403 |
|
Add: Time deposits(1)
|
932,436 |
|
|
— |
|
|
— |
|
|
932,436 |
|
| Less: Cash equivalents |
1,689,540 |
|
|
— |
|
|
(1) |
|
|
1,689,539 |
|
Marketable securities(2)
|
$ |
2,505,954 |
|
|
$ |
1,221 |
|
|
$ |
(5,875) |
|
|
$ |
2,501,300 |
|
________________
(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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of March 31, 2025 |
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 |
$ |
116,450 |
|
|
$ |
(83) |
|
|
$ |
13,499 |
|
|
$ |
(15) |
|
|
$ |
129,949 |
|
|
$ |
(98) |
|
| Municipal securities |
7,937 |
|
|
(10) |
|
|
2,012 |
|
|
(3) |
|
|
9,949 |
|
|
(13) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
25,326 |
|
|
(54) |
|
|
— |
|
|
— |
|
|
25,326 |
|
|
(54) |
|
| U.S. Treasury securities |
175,173 |
|
|
(306) |
|
|
38,443 |
|
|
(125) |
|
|
213,616 |
|
|
(431) |
|
| Total |
$ |
324,886 |
|
|
$ |
(453) |
|
|
$ |
53,954 |
|
|
$ |
(143) |
|
|
$ |
378,840 |
|
|
$ |
(596) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 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 |
$ |
355,882 |
|
|
$ |
(942) |
|
|
$ |
100,957 |
|
|
$ |
(1,076) |
|
|
$ |
456,839 |
|
|
$ |
(2,018) |
|
| Municipal securities |
17,364 |
|
|
(81) |
|
|
10,788 |
|
|
(116) |
|
|
28,152 |
|
|
(197) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
58,598 |
|
|
(137) |
|
|
17,197 |
|
|
(116) |
|
|
75,795 |
|
|
(253) |
|
| U.S. Treasury securities |
466,144 |
|
|
(1,040) |
|
|
166,867 |
|
|
(2,368) |
|
|
633,011 |
|
|
(3,408) |
|
| Total |
$ |
897,988 |
|
|
$ |
(2,200) |
|
|
$ |
295,809 |
|
|
$ |
(3,676) |
|
|
$ |
1,193,797 |
|
|
$ |
(5,876) |
|
|
| 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:
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|
|
|
|
|
|
|
|
|
|
| As of March 31, 2025 (In thousands) |
Amortized Cost |
|
Fair Value |
| Due within one year |
$ |
1,126,524 |
|
|
$ |
1,127,648 |
|
| Due after one year through three years |
1,025,911 |
|
|
1,030,697 |
|
| Total |
$ |
2,152,435 |
|
|
$ |
2,158,345 |
|
|