Quarterly report pursuant to Section 13 or 15(d)

Marketable Securities

v3.8.0.1
Marketable Securities
9 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES
NOTE 4 – MARKETABLE SECURITIES
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
As of March 31, 2018 (In thousands)
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Corporate debt securities
$
905,363

$
132

$
(8,414
)
$
897,081

Money market funds and other
633,752

—

—

633,752

Sovereign securities
17,823

(1
)
(141
)
17,681

U.S. Government agency securities
316,223

14

(3,100
)
313,137

U.S. Treasury securities
428,375

5

(3,866
)
424,514

Subtotal
2,301,536

150

(15,521
)
2,286,165

Add: Time deposits (1)
50,658

—

—

50,658

Less: Cash equivalents
702,530

—

(7
)
702,523

Marketable securities
$
1,649,664

$
150

$
(15,514
)
$
1,634,300

As of June 30, 2017 (In thousands)
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Corporate debt securities
$
1,120,548

$
598

$
(1,951
)
$
1,119,195

Money market funds and other
616,039

—

—

616,039

Sovereign securities
52,621

—

(56
)
52,565

U.S. Government agency securities
510,553

62

(1,789
)
508,826

U.S. Treasury securities
374,676

52

(1,429
)
373,299

Subtotal
2,674,437

712

(5,225
)
2,669,924

Add: Time deposits (1)
39,389

—

—

39,389

Less: Cash equivalents
845,639

—

(15
)
845,624

Marketable securities
$
1,868,187

$
712

$
(5,210
)
$
1,863,689

________________
(1)
Time deposits excluded from fair value measurements.
KLA-Tencor’s 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. All unrealized losses are due to changes in market interest rates, bond yields and/or credit ratings. The Company believes that it has 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 the Company’s investments that were in an unrealized loss position as of the date indicated below:
As of March 31, 2018 (In thousands)
Fair Value
Gross
Unrealized
Losses (1)
Corporate debt securities
$
773,988

$
(8,407
)
U.S. Treasury securities
400,675

(3,866
)
U.S. Government agency securities
307,473

(3,100
)
Sovereign securities
17,682

(141
)
Total
$
1,499,818

$
(15,514
)
__________________
(1)
As of March 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 $6.3 million .

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 March 31, 2018 (In thousands)
摊余成本
Fair Value
Due within one year
$
691,007

$
687,946

Due after one year through three years
958,657

946,354

$
1,649,664

$
1,634,300


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 nine months ended March 31, 2018 and 2017 were immaterial.
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