FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jun. 30, 2025

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

Financial assets (excluding cash held in operating accounts and time deposits) and liabilities measured at fair value on a recurring basis as of the dates indicated below were presented on our Consolidated Balance Sheets as follows:


As of June 30, 2025 (In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Assets
Cash equivalents:
Municipal securities	$	6,120	$	—	$	6,120
Corporate debt securities	1,498		—		1,498
Money market funds and other	1,531,022		1,531,022		—
U.S. Government agency securities	9,955		—		9,955
U.S. Treasury securities	9,981		—		9,981


Marketable securities:
Corporate debt securities	960,148		—		960,148
Municipal securities	51,453		—		51,453


U.S. Government agency securities	106,881		106,881		—
U.S. Treasury securities	877,578		802,682		74,896
Equity securities	23,962		23,962		—

Total cash equivalents and marketable securities(1)	3,578,598		2,464,547		1,114,051
Other current assets:
Derivative assets	59,503		—		59,503
Other non-current assets:
EDSP	349,530		336,090		13,440
Total financial assets(1)	$	3,987,631	$	2,800,637	$	1,186,994
Liabilities
Derivative liabilities	$	(28,615)	$	—	$	(28,615)


Total financial liabilities	$	(28,615)	$	—	$	(28,615)

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(1)Excludes cash of $437.8 million held in operating accounts and time deposits of $478.2 million (of which $82.5 million were cash equivalents) as of June 30, 2025.


As of June 30, 2024 (In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Assets
Cash equivalents:

Corporate debt securities	$	2,312	$	—	$	2,312
Money market funds and other	1,585,832		1,585,832		—

U.S. Treasury securities	35,158		—		35,158


Marketable securities:
Corporate debt securities	771,920		—		771,920
Municipal securities	41,159		—		41,159

U.S. Government agency securities	105,874		105,874		—
U.S. Treasury securities	716,148		476,230		239,918

Equity securities	25,566		25,566		—

Total cash equivalents and marketable securities(1)	3,283,969		2,193,502		1,090,467
Other current assets:
Derivative assets	36,503		—		36,503
Other non-current assets:
EDSP	303,365		272,816		30,549
Total financial assets(1)	$	3,623,837	$	2,466,318	$	1,157,519
Liabilities
Derivative liabilities	$	(15,683)	$	—	$	(15,683)


Total financial liabilities	$	(15,683)	$	—	$	(15,683)

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(1)Excludes cash of $287.6 million held in operating accounts and time deposits of $932.4 million (of which $66.2 million were cash equivalents) as of June 30, 2024.