MARKETABLE SECURITIES (Tables)

12 Months Ended

Jun. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost and Fair Value of Fixed Income Marketable Securities

The amortized cost and fair value of our fixed income marketable securities as of the dates indicated below were as follows:


As of June 30, 2025 (In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate debt securities	$	957,256	$	4,456	$	(66)	$	961,646
Money market funds and other	1,531,022		—		—		1,531,022
Municipal securities	57,445		129		(1)		57,573

U.S. Government agency securities	116,436		458		(58)		116,836
U.S. Treasury securities	885,101		2,787		(329)		887,559


Subtotal	3,547,260		7,830		(454)		3,554,636
Add: Time deposits(1)	478,191		—		—		478,191
Less: Cash equivalents	1,641,074		1		(1)		1,641,074
Marketable securities(2)	$	2,384,377	$	7,829	$	(453)	$	2,391,753

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 other	1,585,832		—		—		1,585,832
Municipal securities	41,343		13		(197)		41,159

U.S. Government agency securities	106,101		26		(253)		105,874
U.S. Treasury securities	754,505		209		(3,408)		751,306


Subtotal	3,263,058		1,221		(5,876)		3,258,403
Add: Time deposits(1)	932,436		—		—		932,436
Less: Cash equivalents	1,689,540		—		(1)		1,689,539
Marketable securities(2)	$	2,505,954	$	1,221	$	(5,875)	$	2,501,300

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(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 June 30, 2025	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	$	98,149	$	(63)	$	2,528	$	(3)	$	100,677	$	(66)
Municipal securities	5,774		(1)		—		—		5,774		(1)

U.S. Government agency securities	32,780		(58)		—		—		32,780		(58)
U.S. Treasury securities	238,627		(297)		20,330		(32)		258,957		(329)
Total	$	375,330	$	(419)	$	22,858	$	(35)	$	398,188	$	(454)


As of June 30, 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	$	355,882	$	(942)	$	100,957	$	(1,076)	$	456,839	$	(2,018)
Municipal securities	17,364		(81)		10,788		(116)		28,152		(197)

U.S. Government agency securities	58,598		(137)		17,197		(116)		75,795		(253)
U.S. Treasury securities	466,144		(1,040)		166,867		(2,368)		633,011		(3,408)
Total	$	897,988	$	(2,200)	$	295,809	$	(3,676)	$	1,193,797	$	(5,876)

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, 2025 (In thousands)	Amortized Cost		Fair Value
Due within one year	$	1,244,804	$	1,246,095
Due after one year through three years	1,139,573		1,145,658
Total	$	2,384,377	$	2,391,753