| 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 |
$ |
827,823 |
|
|
$ |
829,098 |
|
Due after one year through three years |
1,689,747 |
|
|
1,692,678 |
|
|
$ |
2,517,570 |
|
|
$ |
2,521,776 |
|
|