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MARKETABLE SECURITIES
 3 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES MARKETABLE SECURITIES
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
As of September 30, 2024 (In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Corporate debt securities$828,306 $7,102 $(303)$835,105 
Money market funds and other1,558,751 — — 1,558,751 
Municipal securities43,399 294 (20)43,673 
U.S. Government agency securities96,859 1,037 (9)97,887 
U.S. Treasury securities732,428 4,081 (413)736,096 
Subtotal3,259,743 12,514 (745)3,271,512 
Add: Time deposits(1)
1,011,697 — — 1,011,697 
Less: Cash equivalents1,650,347 2 — 1,650,349 
Marketable securities(2)
$2,621,093 $12,512 $(745)$2,632,860 
As of June 30, 2024 (In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Corporate debt securities$775,277 $973 $(2,018)$774,232 
Money market funds and other1,585,832 — — 1,585,832 
Municipal securities41,343 13 (197)41,159 
U.S. Government agency securities106,101 26 (253)105,874 
U.S. Treasury securities754,505 209 (3,408)751,306 
Subtotal3,263,058 1,221 (5,876)3,258,403 
Add: Time deposits(1)
932,436 — — 932,436 
Less: Cash equivalents1,689,540 — (1)1,689,539 
Marketable securities(2)
$2,505,954 $1,221 $(5,875)$2,501,300 
________________
(1) Time deposits excluded from fair value measurements.
(2) Excludes equity marketable securities.
Our investment portfolio includes both corporate and government securities that have a maximum maturity of three years. The longer the duration of these securities, the more susceptible they are to changes in market interest rates and bond yields. As yields increase, those securities with a lower yield-at-cost show a mark-to-market unrealized loss. Most of our unrealized losses are due to changes in market interest rates and bond yields. We believe that we have the ability to realize the full value of all these investments upon maturity. As of September 30, 2024, we had 100 investments in a gross unrealized loss position. 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 September 30, 2024Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Corporate debt securities$33,940 $(20)$66,941 $(283)$100,881 $(303)
Municipal securities1,624 (2)2,443 (18)4,067 (20)
U.S. Government agency securities13,630 (9)— — 13,630 (9)
U.S. Treasury securities35,771 (26)63,733 (387)99,504 (413)
Total$84,965 $(57)$133,117 $(688)$218,082 $(745)
As of June 30, 2024Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Corporate debt securities$355,882 $(942)$100,957 $(1,076)$456,839 $(2,018)
Municipal securities17,364 (81)10,788 (116)28,152 (197)
U.S. Government agency securities58,598 (137)17,197 (116)75,795 (253)
U.S. Treasury securities466,144 (1,040)166,867 (2,368)633,011 (3,408)
Total$897,988 $(2,200)$295,809 $(3,676)$1,193,797 $(5,876)
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 September 30, 2024 (In thousands)Amortized CostFair Value
Due within one year$1,786,826 $1,788,386 
Due after one year through three years834,267 844,474 
Total$2,621,093 $2,632,860 
Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Realized gains and losses on available-for-sale securities for the three months ended September 30, 2024 and 2023 were immaterial.
The costs for our equity marketable securities were $22.9 million as of both September 30, 2024, and June 30, 2024. Unrealized losses for our equity marketable securities were $5.9 million and $4.3 million during the three months ended September 30, 2024 and 2023, respectively.