Quarterly report pursuant to Section 13 or 15(d)

Marketable Securities

v3.10.0.1
Marketable Securities
6 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES
NOTE 5 – MARKETABLE SECURITIES
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
As of December 31, 2018 (In thousands)
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Corporate debt securities
$
505,296

$

$
(4,702
)
$
500,594

Money market funds and other
877,527



877,527

Sovereign securities
11,008


(89
)
10,919

U.S. Government agency securities
174,058

2

(1,445
)
172,615

U.S. Treasury securities
881,704

36

(2,094
)
879,646

Subtotal
2,449,593

38

(8,330
)
2,441,301

Add: Time deposits (1)
48,265



48,265

Less: Cash equivalents
1,589,418

36


1,589,454

Marketable securities
$
908,440

$
2

$
(8,330
)
$
900,112

As of June 30, 2018 (In thousands)
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Corporate debt securities
$
747,763

$
148

$
(7,508
)
$
740,403

Money market funds and other
863,115



863,115

Sovereign securities
17,293


(151
)
17,142

U.S. Government agency securities
326,508

16

(2,827
)
323,697

U.S. Treasury securities
411,329

3

(3,682
)
407,650

Subtotal
2,366,008

167

(14,168
)
2,352,007

Add: Time deposits (1)
54,537



54,537

Less: Cash equivalents
930,608



930,608

Marketable securities
$
1,489,937

$
167

$
(14,168
)
$
1,475,936

________________
(1) Time deposits excluded from fair value measurements.
Our investment portfolio consists of both corporate and government securities that have a maximum maturity of three years . The longer the duration of these securities, the more susceptible they are to changes in market interest rates and bond yields. As yields increase, those securities with a lower yield-at-cost show a mark-to-market unrealized loss. Most of our unrealized losses are due to changes in market interest rates and bond yields. We believe that we have the ability to realize the full value of all of these investments upon maturity. The following table summarizes the fair value and gross unrealized losses of our investments that were in an unrealized loss position as of the date indicated below:
As of December 31, 2018 (In thousands)
Fair Value
Gross
Unrealized
Losses (1)
Corporate debt securities
$
497,833

$
(4,702
)
U.S. Treasury securities
211,588

(2,094
)
U.S. Government agency securities
169,967

(1,445
)
Sovereign securities
10,919

(89
)
Total
$
890,307

$
(8,330
)
__________________
(1) As of December 31, 2018 , the amount of total gross unrealized losses related to investments that had been in a continuous loss position for 12 months or more was $7.9 million .

The contractual maturities of securities classified as available-for-sale, regardless of their classification on our Condensed Consolidated Balance Sheet, as of the date indicated below were as follows:
As of December 31, 2018 (In thousands)
摊销有限公司st
Fair Value
Due within one year
$
567,385

$
563,316

Due after one year through three years
341,055

336,796

$
908,440

$
900,112


Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Realized gains and losses on available-for-sale securities for the three and six months ended December 31, 2018 and 2017 were immaterial.
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