| 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 |
|
|