| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2015 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
|
U.S. Treasury securities
|
$
|
274,965
|
|
|
$
|
605
|
|
|
$
|
(15
|
)
|
|
$
|
275,555
|
|
|
U.S. Government agency securities
|
571,843
|
|
|
551
|
|
|
(126
|
)
|
|
572,268
|
|
|
Municipal securities
|
31,819
|
|
|
7
|
|
|
(10
|
)
|
|
31,816
|
|
|
Corporate debt securities
|
625,965
|
|
|
511
|
|
|
(515
|
)
|
|
625,961
|
|
|
Money market and other
|
611,385
|
|
|
—
|
|
|
—
|
|
|
611,385
|
|
|
Sovereign securities
|
57,091
|
|
|
33
|
|
|
(31
|
)
|
|
57,093
|
|
|
Subtotal
|
2,173,068
|
|
|
1,707
|
|
|
(697
|
)
|
|
2,174,078
|
|
|
Add: Time deposits
(1)
|
29,941
|
|
|
—
|
|
|
—
|
|
|
29,941
|
|
|
Less: Cash equivalents
|
654,933
|
|
|
—
|
|
|
—
|
|
|
654,933
|
|
|
Marketable securities
|
$
|
1,548,076
|
|
|
$
|
1,707
|
|
|
$
|
(697
|
)
|
|
$
|
1,549,086
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2014 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
|
U.S. Treasury securities
|
$
|
384,165
|
|
|
$
|
287
|
|
|
$
|
(52
|
)
|
|
$
|
384,400
|
|
|
U.S. Government agency securities
|
867,309
|
|
|
651
|
|
|
(117
|
)
|
|
867,843
|
|
|
Municipal securities
|
96,198
|
|
|
93
|
|
|
(75
|
)
|
|
96,216
|
|
|
Corporate debt securities
|
1,220,794
|
|
|
3,526
|
|
|
(152
|
)
|
|
1,224,168
|
|
|
Money market and other
|
397,517
|
|
|
—
|
|
|
—
|
|
|
397,517
|
|
|
Sovereign securities
|
42,227
|
|
|
46
|
|
|
(9
|
)
|
|
42,264
|
|
|
Subtotal
|
3,008,210
|
|
|
4,603
|
|
|
(405
|
)
|
|
3,012,408
|
|
|
Add: Time deposits
(1)
|
33,509
|
|
|
—
|
|
|
—
|
|
|
33,509
|
|
|
Less: Cash equivalents
|
524,149
|
|
|
—
|
|
|
(8
|
)
|
|
524,141
|
|
|
Marketable securities
|
$
|
2,517,570
|
|
|
$
|
4,603
|
|
|
$
|
(397
|
)
|
|
$
|
2,521,776
|
|
__________________
(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 the date indicated below:
|
|
|
|
|
|
|
|
|
|
As of June 30, 2015 (In thousands)
|
Fair Value
|
|
Gross
Unrealized
Losses
(1)
|
|
U.S. Treasury securities
|
$
|
34,508
|
|
|
$
|
(15
|
)
|
|
U.S. Government agency securities
|
133,933
|
|
|
(126
|
)
|
|
Municipal securities
|
9,776
|
|
|
(10
|
)
|
|
Corporate debt securities
|
286,355
|
|
|
(515
|
)
|
|
Sovereign securities
|
26,729
|
|
|
(31
|
)
|
|
Total
|
$
|
491,301
|
|
|
$
|
(697
|
)
|
__________________
|
|
|
(1)
|
As of
June 30, 2015
, 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.
|
|
| Contractual Maturities of Securities |
The contractual maturities of securities classified as available-for-sale, regardless of their classification on the Company’s Consolidated Balance Sheet, as of the date indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
As of June 30, 2015 (In thousands)
|
Amortized
Cost
|
|
Fair Value
|
|
Due within one year
|
$
|
496,916
|
|
|
$
|
497,121
|
|
|
Due after one year through three years
|
1,051,160
|
|
|
1,051,965
|
|
|
|
$
|
1,548,076
|
|
|
$
|
1,549,086
|
|
|