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MARKETABLE SECURITIES (Tables) | 12 Months Ended
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Jun. 30, 2022
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 June 30, 2022 (In thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Corporate debt securities | $ | 481,881 |  |  | $ | 3 |  |  | $ | (8,915) |  |  | $ | 472,969 |
Money market funds and other | 948,027 |  |  | — |  |  | — |  |  | 948,027 |
Municipal securities | 61,973 |  |  | — |  |  | (1,249) |  |  | 60,724 |
Sovereign securities | 6,041 |  |  | 2 |  |  | (53) |  |  | 5,990 |
U.S. Government agency securities | 92,273 |  |  | 26 |  |  | (1,183) |  |  | 91,116 |
U.S. Treasury securities | 378,871 |  |  | 18 |  |  | (8,378) |  |  | 370,511 |
Equity securities(1) | 3,211 |  |  | 7,824 |  |  | — |  |  | 11,035 |
Subtotal | 1,972,277 |  |  | 7,873 |  |  | (19,778) |  |  | 1,960,372 |
Add: Time deposits(2) | 274,873 |  |  | — |  |  | — |  |  | 274,873 |
Less: Cash equivalents | 1,112,146 |  |  | — |  |  | (1) |  |  | 1,112,145 |
Marketable securities | $ | 1,135,004 |  |  | $ | 7,873 |  |  | $ | (19,777) |  |  | $ | 1,123,100 |
As of June 30, 2021 (In thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Corporate debt securities | $ | 468,192 |  |  | $ | 689 |  |  | $ | (135) |  |  | $ | 468,746 |
Money market funds and other | 691,375 |  |  | — |  |  | — |  |  | 691,375 |
Municipal securities | 70,155 |  |  | 106 |  |  | (33) |  |  | 70,228 |
Sovereign securities | 3,045 |  |  | 7 |  |  | — |  |  | 3,052 |
U.S. Government agency securities | 145,810 |  |  | 160 |  |  | (49) |  |  | 145,921 |
U.S. Treasury securities | 233,052 |  |  | 129 |  |  | (117) |  |  | 233,064 |
Equity securities(1) | 3,211 |  |  | 26,719 |  |  | — |  |  | 29,930 |
Subtotal | 1,614,840 |  |  | 27,810 |  |  | (334) |  |  | 1,642,316 |
Add: Time deposits(2) | 210,636 |  |  | — |  |  | — |  |  | 210,636 |
Less: Cash equivalents | 793,040 |  |  | — |  |  | — |  |  | 793,040 |
Marketable securities | $ | 1,032,436 |  |  | $ | 27,810 |  |  | $ | (334) |  |  | $ | 1,059,912 |
__________________ (1)Unrealized gains on equity securities included in our portfolio consist of the initial fair value adjustment recorded upon a security becoming marketable. (2)Time deposits excluded from fair value measurements.
Unrealized Gain (Loss) on Investments | The following table summarizes the fair value and gross unrealized losses of our investments that were in an unrealized loss position as of the dates indicated below:
As of June 30, 2022 (In thousands) | Fair Value |  | Gross Unrealized Losses
Corporate debt securities | $ | 458,699 |  |  | $ | (8,915) |
Municipal securities | 58,722 |  |  | (1,249) |
Sovereign securities | 2,963 |  |  | (53) |
U.S. Government agency securities | 60,285 |  |  | (1,183) |
U.S. Treasury securities | 336,819 |  |  | (8,378) |
Total | $ | 917,488 |  |  | $ | (19,778) |
As of June 30, 2021 (In thousands) | Fair Value |  | Gross Unrealized Losses
Corporate debt securities | $ | 161,012 |  |  | $ | (135) |
Municipal securities | 21,605 |  |  | (33) |
U.S. Government agency securities | 38,904 |  |  | (49) |
U.S. Treasury securities | 117,761 |  |  | (117) |
Total | $ | 339,282 |  |  | $ | (334) |
Schedule of Contractual Maturities of Securities | The contractual maturities of securities classified as available-for-sale, regardless of their classification on our Consolidated Balance Sheets, as of the date indicated below were as follows:
As of June 30, 2022 (In thousands) | Amortized Cost |  | Fair Value
Due within one year | $ | 571,149 |  |  | $ | 573,696 |
Due after one year through three years | 563,855 |  |  | 549,404 |
| $ | 1,135,004 |  |  | $ | 1,123,100 |

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