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MARKETABLE SECURITIES (Tables)

6 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Securities

The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:

As of December 31, 2020 (In thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Corporate debt securities			$	416,926					$	1,445					$	(23)					$	418,348
Money market funds and other			795,712						—						—						795,712
Municipal securities			39,190						165						(3)						39,352
Sovereign securities			3,056						3						—						3,059
U.S. Government agency securities			145,774						325						(3)						146,096
U.S. Treasury securities			190,282						708						(1)						190,989
Subtotal			1,590,940						2,646						(30)						1,593,556
Add: Time deposits(1)			160,301						—						—						160,301
Less: Cash equivalents			888,792						1						—						888,793
Marketable securities			$	862,449					$	2,645					$	(30)					$	865,064

As of June 30, 2020 (In thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Corporate debt securities			$	379,334					$	2,673					$	(50)					$	381,957
Money market funds and other			694,950						—						—						694,950
Municipal securities			28,859						251						—						29,110
Sovereign securities			2,009						8						—						2,017
U.S. Government agency securities			106,091						252						(7)						106,336
U.S. Treasury securities			179,631						1,564						(2)						181,193
Subtotal			1,390,874						4,748						(59)						1,395,563
Add: Time deposits(1)			124,153						—						—						124,153
Less: Cash equivalents			773,653						—						—						773,653
Marketable securities			$	741,374					$	4,748					$	(59)					$	746,063

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(1) Time deposits excluded from fair value measurements.

Schedule of Investments with Gross Unrealized Losses

The following table summarizes the fair value and gross unrealized losses of our investments that were in an unrealized loss position as of the date indicated below, none of which were in a continuous loss position for 12 months or more:

As of December 31, 2020 (In thousands)			Fair Value						Gross Unrealized Losses
Corporate debt securities			$	47,474					$	(23)
Municipal securities			6,478						(3)
U.S. Government agency securities			6,504						(3)
U.S. Treasury securities			29,252						(1)
Total			$	89,708					$	(30)

As of June 30, 2020 (In thousands)			Fair Value						Gross Unrealized Losses
Corporate debt securities			$	44,429					$	(50)
Municipal securities			870						—
U.S. Government agency securities			9,951						(7)
U.S. Treasury securities			19,010						(2)
Total			$	74,260					$	(59)

Schedule of Contractual Maturities of Securities

The contractual maturities of securities classified as available-for-sale, regardless of their classification on our Condensed Consolidated Balance Sheets, as of the date indicated below were as follows:

As of December 31, 2020 (In thousands)			Amortized Cost						Fair Value
Due within one year			$	468,753					$	470,247
Due after one year through three years			393,696						394,817
			$	862,449					$	865,064

As of June 30, 2020 (In thousands)			Amortized Cost						Fair Value
Due within one year			$	415,915					$	418,169
Due after one year through three years			325,459						327,894
			$	741,374					$	746,063

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- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

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- Definition

For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563

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