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MARKETABLE SECURITIES (Tables) | 12 Months Ended
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Jun. 30, 2023
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, 2023 (In thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Corporate debt securities | $ | 508,511 |  |  | $ | 52 |  |  | $ | (5,913) |  |  | $ | 502,650 |
Money market funds and other | 1,257,223 |  |  | — |  |  | — |  |  | 1,257,223 |
Municipal securities | 32,525 |  |  | — |  |  | (737) |  |  | 31,788 |
U.S. Government agency securities | 134,486 |  |  | 4 |  |  | (918) |  |  | 133,572 |
U.S. Treasury securities | 538,487 |  |  | 10 |  |  | (8,782) |  |  | 529,715 |
Equity securities(1) | 3,211 |  |  | 14,948 |  |  | — |  |  | 18,159 |
Subtotal | 2,474,443 |  |  | 15,014 |  |  | (16,350) |  |  | 2,473,107 |
Add: Time deposits(2) | 471,439 |  |  | — |  |  | — |  |  | 471,439 |
Less: Cash equivalents | 1,629,248 |  |  | 4 |  |  | — |  |  | 1,629,252 |
Marketable securities | $ | 1,316,634 |  |  | $ | 15,010 |  |  | $ | (16,350) |  |  | $ | 1,315,294 |
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 |
__________________ (1)Unrealized gains on equity securities included in our portfolio include the initial fair value adjustment recorded upon a security becoming marketable. (2)Time deposits excluded from fair value measurements.
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | 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, 2023 | Less than 12 Months |  | 12 Months or Greater |  | Total
(In thousands) | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Corporate debt securities | $ | 310,613 |  |  | $ | (2,242) |  |  | $ | 161,263 |  |  | $ | (3,671) |  |  | $ | 471,876 |  |  | $ | (5,913) |
Municipal securities | 9,011 |  |  | (199) |  |  | 17,253 |  |  | (538) |  |  | 26,264 |  |  | (737) |
U.S. Government agency securities | 80,793 |  |  | (459) |  |  | 36,406 |  |  | (459) |  |  | 117,199 |  |  | (918) |
U.S. Treasury securities | 288,376 |  |  | (4,117) |  |  | 183,475 |  |  | (4,665) |  |  | 471,851 |  |  | (8,782) |
Total | $ | 688,793 |  |  | $ | (7,017) |  |  | $ | 398,397 |  |  | $ | (9,333) |  |  | $ | 1,087,190 |  |  | $ | (16,350) |
As of June 30, 2022 (In thousands) | Fair Value(1) |  | Gross Unrealized Losses(1)
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) |
_________________ (1)As of June 30, 2022, our investments that were in a continuous loss position of 12 months or more, as well as the unrealized losses on those investments, were immaterial.
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, 2023 (In thousands) | Amortized Cost |  | Fair Value
Due within one year | $ | 704,633 |  |  | $ | 713,189 |
Due after one year through three years | 612,001 |  |  | 602,105 |
| $ | 1,316,634 |  |  | $ | 1,315,294 |

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