| 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, 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
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
|
(2,466
|
)
|
|
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.
|
| 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, 2014 (In thousands)
|
Fair Value
|
|
Gross
Unrealized
Losses
(1)
|
|
U.S. Treasury securities
|
$
|
192,159
|
|
|
$
|
(52
|
)
|
|
U.S. Government agency securities
|
163,701
|
|
|
(117
|
)
|
|
Municipal securities
|
38,243
|
|
|
(73
|
)
|
|
Corporate debt securities
|
147,555
|
|
|
(146
|
)
|
|
Sovereign securities
|
12,816
|
|
|
(9
|
)
|
|
Total
|
$
|
554,474
|
|
|
$
|
(397
|
)
|
__________________
|
|
|
(1)
|
As of
June 30, 2014
, the amount of total gross unrealized losses 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, 2014 (In thousands)
|
Amortized
Cost
|
|
Fair Value
|
|
Due within one year
|
$
|
827823年
|
|
|
$
|
829,098
|
|
|
Due after one year through three years
|
1,689,747
|
|
|
1,692,678
|
|
|
|
$
|
2,517,570
|
|
|
$
|
2,521,776
|
|
|