Quarterly report pursuant to Section 13 or 15(d)

Marketable Securities

v2.4.0.8
Marketable Securities
9 Months Ended
Mar. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Marketable Securities
MARKETABLE SECURITIES
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
As of March 31, 2014 (In thousands)
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
U.S. Treasury securities
$
302,408

$
112

$
(95
)
$
302,425

U.S. Government agency securities
797,451

656

(464
)
797643年

Municipal securities
101,846

120

(72
)
101,894

Corporate debt securities
1,178,548

3,025

(321
)
1,181,252

Money market and other
463,828

—

—

463,828

Sovereign securities
62,261

38

(17
)
62282年

Subtotal
2,906,342

3,951

(969
)
2,909,324

Add: Time deposits (1)
31,011

—

—

31,011

Less: Cash equivalents
689,740

—

(6
)
689,734

Marketable securities
$
2,247,613

$
3,951

$
(963
)
$
2,250,601

As of June 30, 2013 (In thousands)
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
U.S. Treasury securities
$
93,940

$
53

$
(206
)
$
93,787

U.S. Government agency securities
598,471

569

(1,009
)
598,031

Municipal securities
103,686

71

(302
)
103,455

Corporate debt securities
1,103,438

2,353

(2466
)
1,103,325

Money market and other
817,608

—

—

817,608

Sovereign securities
33,799

25

(19
)
33,805

Subtotal
2,750,942

3,071

(4,002
)
2,750,011

Add: Time deposits (1)
43,413

—

—

43,413

Less: Cash equivalents
859,933

—

—

859,933

Marketable securities
$
1,934,422

$
3,071

$
(4,002
)
$
1,933,491

________________
(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 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, 2014 (In thousands)
Fair Value
Gross
Unrealized
Losses (1)
U.S. Treasury securities
$
61,901

$
(93
)
U.S. Government agency securities
229,366

(464
)
Municipal securities
36,699

(72
)
Corporate debt securities
217,279

(318
)
Sovereign securities
31,455

(16
)
Total
$
576,700

$
(963
)
__________________
(1)
Of the total gross unrealized losses, 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.

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, 2014 (In thousands)
摊余成本
Fair Value
Due within one year
$
725,478

$
726,799

Due after one year through three years
1,522,135

1,523,802

$
2,247,613

$
2,250,601


实际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 on available-for-sale securities for the three months ended March 31, 2014 and March 31, 2013 were $0.3 million and $0.7 million , respectively. Realized gains on available-for-sale securities for the nine months ended March 31, 2014 and March 31, 2013 were 180万美元 and $2.1 million , respectively. Realized losses on available-for-sale securities for the three and nine months ended March 31, 2014 and March 31, 2013 were immaterial.
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