| 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, 2019 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
|
Corporate debt securities
|
$
|
385,444
|
|
|
$
|
623
|
|
|
$
|
(32
|
)
|
|
$
|
386,035
|
|
|
Money market funds and other
|
435,933
|
|
|
—
|
|
|
—
|
|
|
435,933
|
|
|
Municipal securities
|
9,212
|
|
|
9
|
|
|
(3
|
)
|
|
9,218
|
|
|
Sovereign securities
|
6,005
|
|
|
8
|
|
|
—
|
|
|
6,013
|
|
|
U.S. Government agency securities
|
94,739
|
|
|
50
|
|
|
(13
|
)
|
|
94,776
|
|
|
U.S. Treasury securities
|
247,182
|
|
|
239
|
|
|
(37
|
)
|
|
247,384
|
|
|
Subtotal
|
1,178,515
|
|
|
929
|
|
|
(85
|
)
|
|
1,179,359
|
|
|
Add: Time deposits
(1)
|
85,667
|
|
|
—
|
|
|
—
|
|
|
85,667
|
|
|
Less: Cash equivalents
|
527,368
|
|
|
—
|
|
|
—
|
|
|
527,368
|
|
|
Marketable securities
|
$
|
736,814
|
|
|
$
|
929
|
|
|
$
|
(85
|
)
|
|
$
|
737,658
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2019 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
|
Corporate debt securities
|
$
|
433,518
|
|
|
$
|
141
|
|
|
$
|
(582
|
)
|
|
$
|
433,077
|
|
|
Money market funds and other
|
352,708
|
|
|
—
|
|
|
—
|
|
|
352,708
|
|
|
Municipal securities
|
1,910
|
|
|
3
|
|
|
—
|
|
|
1,913
|
|
|
Sovereign securities
|
6,001
|
|
|
1
|
|
|
(8
|
)
|
|
5,994
|
|
|
U.S. Government agency securities
|
159,454
|
|
|
5
|
|
|
(241
|
)
|
|
159,218
|
|
|
U.S. Treasury securities
|
208,058
|
|
|
39
|
|
|
(401
|
)
|
|
207,696
|
|
|
Subtotal
|
1,161,649
|
|
|
189
|
|
|
(1,232
|
)
|
|
1,160,606
|
|
|
Add: Time deposits
(1)
|
99,006
|
|
|
—
|
|
|
—
|
|
|
99,006
|
|
|
Less: Cash equivalents
|
536,206
|
|
|
17
|
|
|
(2
|
)
|
|
536,221
|
|
|
Marketable securities
|
$
|
724,449
|
|
|
$
|
172
|
|
|
$
|
(1,230
|
)
|
|
$
|
723,391
|
|
________________
(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 our investments that were in an unrealized loss position as of the date indicated below,$68.3 millionof which were in a continuous loss position for 12 months or more:
|
|
|
|
|
|
|
|
|
|
As of December 31, 2019 (In thousands)
|
Fair Value
|
|
Gross
Unrealized
Losses
|
|
Corporate debt securities
|
$
|
88,354
|
|
|
$
|
(32
|
)
|
|
Municipal securities
|
3,671
|
|
|
(3
|
)
|
|
U.S. Government agency securities
|
37,246
|
|
|
(13
|
)
|
|
U.S Treasury securities
|
87,526
|
|
|
(37
|
)
|
|
Total
|
$
|
216,797
|
|
|
$
|
(85
|
)
|
|
| 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 December 31, 2019 (In thousands)
|
摊余成本
|
|
Fair Value
|
|
Due within one year
|
$
|
386,442
|
|
|
$
|
386,617
|
|
|
Due after one year through three years
|
350,372
|
|
|
351,041
|
|
|
|
$
|
736,814
|
|
|
$
|
737,658
|
|
|