| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of June 30,
2011
and
2010
were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2011 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
|
U.S. Treasury securities
|
$
|
58,754
|
|
|
$
|
165
|
|
|
$
|
(23
|
)
|
|
$
|
58,896
|
|
|
U.S. Government agency securities
|
319,375
|
|
|
931
|
|
|
(123
|
)
|
|
320,183
|
|
|
Municipal securities
|
38,688
|
|
|
275
|
|
|
(6
|
)
|
|
38,957
|
|
|
Corporate debt securities
|
870,591
|
|
|
5,162
|
|
|
(368
|
)
|
|
875,385
|
|
|
Money market and other
|
481,770
|
|
|
—
|
|
|
—
|
|
|
481,770
|
|
|
Sovereign securities
|
31,932
|
|
|
179
|
|
|
(25
|
)
|
|
32,086
|
|
|
Subtotal
|
1,801,110
|
|
|
6,712
|
|
|
(545
|
)
|
|
1,807,277
|
|
|
Add: Time deposits(1)
|
65,402
|
|
|
—
|
|
|
—
|
|
|
65,402
|
|
|
Less: Cash equivalents
|
545,475
|
|
|
—
|
|
|
(2
|
)
|
|
545,473
|
|
|
Marketable securities
|
$
|
1,321,037
|
|
|
$
|
6,712
|
|
|
$
|
(543
|
)
|
|
$
|
1,327,206
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2010 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
|
U.S. Treasury securities
|
$
|
42,182
|
|
|
$
|
112
|
|
|
$
|
(1
|
)
|
|
$
|
42,293
|
|
|
U.S. Government agency securities
|
249,182
|
|
|
1,108
|
|
|
(10
|
)
|
|
250,280
|
|
|
Municipal securities
|
55,171
|
|
|
368
|
|
|
(80
|
)
|
|
55,459
|
|
|
Corporate debt securities
|
599,118
|
|
|
5,314
|
|
|
(1,276
|
)
|
|
603,156
|
|
|
Money market and other
|
334,674
|
|
|
—
|
|
|
—
|
|
|
334,674
|
|
|
Sovereign securities
|
39,166
|
|
|
210
|
|
|
(21
|
)
|
|
39,355
|
|
|
Auction rate securities
|
16,825
|
|
|
—
|
|
|
—
|
|
|
16,825
|
|
|
Subtotal
|
1,336,318
|
|
|
7,112
|
|
|
(1,388
|
)
|
|
1,342,042
|
|
|
Add: Time deposits(1)
|
38,407
|
|
|
—
|
|
|
—
|
|
|
38,407
|
|
|
Less: Cash equivalents
|
376,316
|
|
|
7
|
|
|
—
|
|
|
376,323
|
|
|
Marketable securities
|
$
|
998,409
|
|
|
$
|
7,105
|
|
|
$
|
(1,388
|
)
|
|
$
|
1,004,126
|
|
__________________
(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
June 30, 2011
:
|
|
|
|
|
|
|
|
|
|
(In thousands)
|
Fair Value
|
|
Gross
Unrealized
Losses(1)
|
|
U.S. Treasury securities
|
$
|
15,660
|
|
|
$
|
(23
|
)
|
|
U.S. Government agency securities
|
63,345
|
|
|
(121
|
)
|
|
Municipal securities
|
3,181
|
|
|
(6
|
)
|
|
Corporate debt securities
|
137,990
|
|
|
(368
|
)
|
|
Sovereign securities
|
7,542
|
|
|
(25
|
)
|
|
Total
|
$
|
227,718
|
|
|
$
|
(543
|
)
|
__________________
|
|
|
(1)
|
Of the total gross unrealized losses, there were no amounts that, as of
June 30, 2011
, had been in a continuous loss position for
12
mont
|
|
| Contractual Maturities of Securities |
The contractual maturities of securities classified as available-for-sale as of
June 30, 2011
, regardless of the consolidated balance sheet classification, were as follows:
|
|
|
|
|
|
|
|
|
|
(In thousands)
|
Amortized
Cost
|
|
Fair Value
|
|
Due within one year
|
$
|
338,240
|
|
|
$
|
339,968
|
|
|
Due after one year through three years
|
982,797
|
|
|
987,238
|
|
|
|
$
|
1,321,037
|
|
|
$
|
1,327,206
|
|
|