| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2016 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
|
Corporate debt securities
|
$
|
936,011
|
|
|
$
|
205
|
|
|
$
|
(2,969
|
)
|
|
$
|
933,247
|
|
|
Money market and other
|
552,189
|
|
|
—
|
|
|
—
|
|
|
552,189
|
|
|
Municipal securities
|
1,004
|
|
|
—
|
|
|
—
|
|
|
1,004
|
|
|
Sovereign securities
|
58,129
|
|
|
1
|
|
|
(106
|
)
|
|
58,024
|
|
|
U.S. Treasury securities
|
312,438
|
|
|
71
|
|
|
(1,203
|
)
|
|
311,306
|
|
|
U.S. Government agency securities
|
380,532
|
|
|
57
|
|
|
(1,957
|
)
|
|
378,632
|
|
|
Subtotal
|
2,240,303
|
|
|
334
|
|
|
(6,235
|
)
|
|
2,234,402
|
|
|
Add: Time deposits
(1)
|
30,814
|
|
|
—
|
|
|
—
|
|
|
30,814
|
|
|
Less: Cash equivalents
|
609,272
|
|
|
—
|
|
|
—
|
|
|
609,272
|
|
|
Marketable securities
|
$
|
1,661,845
|
|
|
$
|
334
|
|
|
$
|
(6,235
|
)
|
|
$
|
1,655,944
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2016 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
|
Corporate debt securities
|
$
|
676,259
|
|
|
$
|
2,372
|
|
|
$
|
(157
|
)
|
|
$
|
678,474
|
|
|
Money market and other
|
626,156
|
|
|
—
|
|
|
—
|
|
|
626,156
|
|
|
Municipal securities
|
5,014
|
|
|
2
|
|
|
—
|
|
|
5,016
|
|
|
Sovereign securities
|
41,224
|
|
|
38
|
|
|
(5
|
)
|
|
41,257
|
|
|
U.S. Treasury securities
|
326321年
|
|
|
1,181
|
|
|
—
|
|
|
327,502
|
|
|
U.S. Government agency securities
|
404,889
|
|
|
830
|
|
|
(14
|
)
|
|
405,705
|
|
|
Subtotal
|
2,079,863
|
|
|
4,423
|
|
|
(176
|
)
|
|
2,084,110
|
|
|
Add: Time deposits
(1)
|
77,131
|
|
|
—
|
|
|
—
|
|
|
77,131
|
|
|
Less: Cash equivalents
|
778,451
|
|
|
1
|
|
|
(17
|
)
|
|
778,435
|
|
|
Marketable securities
|
$
|
1,378,543
|
|
|
$
|
4,422
|
|
|
$
|
(159
|
)
|
|
$
|
1,382,806
|
|
________________
|
|
|
(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 the Company’s investments that were in an unrealized loss position as of the date indicated below:
|
|
|
|
|
|
|
|
|
|
As of December 31, 2016 (In thousands)
|
Fair Value
|
|
Gross
Unrealized
Losses
(1)
|
|
Corporate debt securities
|
$
|
702,366
|
|
|
$
|
(2,969
|
)
|
|
U.S. Government agency securities
|
310,258
|
|
|
(1,957
|
)
|
|
U.S. Treasury securities
|
173,202
|
|
|
(1,203
|
)
|
|
Sovereign securities
|
43,433
|
|
|
(106
|
)
|
|
Municipal securities
|
1,004
|
|
|
—
|
|
|
Total
|
$
|
1,230,263
|
|
|
$
|
(6,235
|
)
|
__________________
|
|
|
(1)
|
As of
December 31, 2016
, the amount of total gross unrealized losses related to investments that had been in a continuous loss position for
12
months or more was immaterial.
|
|
| Contractual Maturities of Securities |
The contractual maturities of securities classified as available-for-sale, regardless of their classification on the Company’s Condensed Consolidated Balance Sheet, as of the date indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
As of December 31, 2016 (In thousands)
|
摊余成本
|
|
Fair Value
|
|
Due within one year
|
$
|
673,708
|
|
|
$
|
673,484
|
|
|
Due after one year through three years
|
988,137
|
|
|
982,460
|
|
|
|
$
|
1,661,845
|
|
|
$
|
1,655,944
|
|
|