XML 22 R12.htm IDEA: XBRL DOCUMENT v3.25.3
MARKETABLE SECURITIES
 3 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES 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 September 30, 2025 (In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Corporate debt securities$1,013,675 $5,274 $(25)$1,018,924 
Money market funds and other1,334,414 — — 1,334,414 
Municipal securities55,054 178 — 55,232 
U.S. Government agency securities104,751 511 (9)105,253 
U.S. Treasury securities1,035,880 3,927 (131)1,039,676 
Subtotal3,543,774 9,890 (165)3,553,499 
Add: Time deposits(1)
593,606 — — 593,606 
Less: Cash equivalents1,434,263 — — 1,434,263 
Marketable securities(2)
$2,703,117 $9,890 $(165)$2,712,842 
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 other1,531,022 — — 1,531,022 
Municipal securities57,445 129 (1)57,573 
U.S. Government agency securities116,436 458 (58)116,836 
U.S. Treasury securities885,101 2,787 (329)887,559 
Subtotal3,547,260 7,830 (454)3,554,636 
Add: Time deposits(1)
478,191 — — 478,191 
Less: Cash equivalents1,641,074 1 (1)1,641,074 
Marketable securities(2)
$2,384,377 $7,829 $(453)$2,391,753 
________________
(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, 2025, we had 50 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, 2025Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Corporate debt securities$43,079 $(25)$— $— $43,079 $(25)
Municipal securities12,511 — — — 12,511 — 
U.S. Government agency securities13,974 (9)— — 13,974 (9)
U.S. Treasury securities136,636 (106)21,483 (25)158,119 (131)
Total$206,200 $(140)$21,483 $(25)$227,683 $(165)
As of June 30, 2025Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Corporate debt securities$98,149 $(63)$2,528 $(3)$100,677 $(66)
Municipal securities5,774 (1)— — 5,774 (1)
U.S. Government agency securities32,780 (58)— — 32,780 (58)
U.S. Treasury securities238,627 (297)20,330 (32)258,957 (329)
Total$375,330 $(419)$22,858 $(35)$398,188 $(454)
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, 2025 (In thousands)Amortized CostFair Value
Due within one year$1,352,766 $1,355,096 
Due after one year through three years1,350,351 1,357,746 
Total$2,703,117 $2,712,842 
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, 2025 and 2024 were immaterial.
The costs for our equity marketable securities were $22.9 million as of both September 30, 2025, and June 30, 2025. Unrealized gains (losses) for our equity marketable securities were $0.6 million and $(5.9) million during the three months ended September 30, 2025 and 2024, respectively.