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MARKETABLE SECURITIES (Tables)
 6 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Unrealized Gain (Loss) on Investments
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
As of December 31, 2022 (In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Corporate debt securities$492,548 $133 $(8,388)$484,293 
Money market funds and other839,867 — — 839,867 
Municipal securities38,909 — (1,116)37,793 
Sovereign securities6,034 — (30)6,004 
U.S. Government agency securities88,752 8 (1,238)87,522 
U.S. Treasury securities451,374 43 (11,014)440,403 
Equity securities(1)
3,211 16,113 — 19,324 
Subtotal1,920,695 16,297 (21,786)1,915,206 
Add: Time deposits(2)
341,003 — — 341,003 
Less: Cash equivalents961,336 — — 961,336 
Marketable securities$1,300,362 $16,297 $(21,786)$1,294,873 
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 other948,027 — — 948,027 
Municipal securities61,973 — (1,249)60,724 
Sovereign securities6,041 2 (53)5,990 
U.S. Government agency securities92,273 26 (1,183)91,116 
U.S. Treasury securities378,871 18 (8,378)370,511 
Equity securities(1)
3,211 7,824 — 11,035 
Subtotal1,972,277 7,873 (19,778)1,960,372 
Add: Time deposits(2)
274,873 — — 274,873 
Less: Cash equivalents1,112,146 — (1)1,112,145 
Marketable securities$1,135,004 $7,873 $(19,777)$1,123,100 
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(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 December 31, 2022Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Corporate debt securities$226,806 $(3,852)$216,074 $(4,536)$442,880 $(8,388)
Municipal securities6,879 (183)30,914 (933)37,793 (1,116)
Sovereign securities1,006 (3)1,974 (27)2,980 (30)
U.S. Government agency securities30,398 (140)36,268 (1,098)66,666 (1,238)
U.S. Treasury securities216,402 (5,024)197,099 (5,990)413,501 (11,014)
Total$481,491 $(9,202)$482,329 $(12,584)$963,820 $(21,786)

As of June 30, 2022 (In thousands)
Fair Value(1)
Gross
Unrealized
Losses(1)
Corporate debt securities$458,699 $(8,915)
Municipal securities58,722 (1,249)
Sovereign securities2,963 (53)
U.S. Government agency securities60,285 (1,183)
U.S. Treasury securities336,819 (8,378)
Total$917,488 $(19,778)
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(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 Condensed Consolidated Balance Sheets, as of the date indicated below were as follows:
As of December 31, 2022 (In thousands)Amortized CostFair Value
Due within one year$810,100 $816,047 
Due after one year through three years490,262 478,826 
Total$1,300,362 $1,294,873