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MARKETABLE SECURITIES (Tables)

9 Months Ended

Mar. 31, 2024

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 March 31, 2024 (In thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Corporate debt securities			$	767,413					$	1,646					$	(1,923)					$	767,136
Money market funds and other			1,091,385						—						—						1,091,385
Municipal securities			40,271						64						(208)						40,127
U.S. Government agency securities			93,382						57						(231)						93,208
U.S. Treasury securities			764,664						180						(3,729)						761,115
Subtotal			2,757,115						1,947						(6,091)						2,752,971
Add: Time deposits(1)			1,054,499						—						—						1,054,499
Less: Cash equivalents			1,390,596						—						(1)						1,390,595
Marketable securities(2)			$	2,421,018					$	1,947					$	(6,090)					$	2,416,875

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
Subtotal			2,471,232						66						(16,350)						2,454,948
Add: Time deposits(1)			471,439						—						—						471,439
Less: Cash equivalents			1,629,248						4						—						1,629,252
Marketable securities(2)			$	1,313,423					$	62					$	(16,350)					$	1,297,135

________________

(1) Time deposits excluded from fair value measurements.

(2) Excludes equity marketable securities.

Schedule of 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 March 31, 2024			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			$	295,694					$	(823)					$	81,327					$	(1,100)					$	377,021					$	(1,923)
Municipal securities			13,938						(91)						8,088						(117)						22,026						(208)
U.S. Government agency securities			54,739						(227)						2,517						(4)						57,256						(231)
U.S. Treasury securities			460,112						(1,521)						141,125						(2,208)						601,237						(3,729)
Total			$	824,483					$	(2,662)					$	233,057					$	(3,429)					$	1,057,540					$	(6,091)

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)

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 March 31, 2024 (In thousands)			Amortized Cost						Fair Value
Due within one year			$	1,566,845					$	1,564,521
Due after one year through three years			854,173						852,354
Total			$	2,421,018					$	2,416,875

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Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Paragraph 4
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