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Corporate Investments and Funds Held For Clients (Tables) | 6 Months Ended
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Dec. 31, 2019
Corporate Investments and Funds Held for Clients |
Schedule of corporate investments and funds held for clients | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2019
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | unrealized | ​ | unrealized | ​ | ​
Type of Issue | ​ | cost | ​ | gains |  | losses |  | Fair value
Cash and cash equivalents | ​ | $ | 132,478 | ​ | $ | — | ​ | $ | (2) | ​ | $ | 132,476
Funds held for clients' cash and cash equivalents | ​ | ​ | 1,293,673 | ​ | ​ | — | ​ | ​ | (6) | ​ | ​ | 1,293,667
Available-for-sale securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial paper | ​ | ​ | 63,397 | ​ | ​ | 33 | ​ | ​ | (2) | ​ | ​ | 63,428
Corporate bonds | ​ | ​ | 27,044 | ​ | ​ | 59 | ​ | ​ | (4) | ​ | ​ | 27,099
Asset-backed securities | ​ | ​ | 26,488 | ​ | ​ | 55 | ​ | ​ | (3) | ​ | ​ | 26,540
U.S. treasury securities | ​ | ​ | 13,736 | ​ | ​ | 21 | ​ | ​ | — | ​ | ​ | 13,757
Total available-for-sale securities (1) | ​ | ​ | 130,665 | ​ | ​ | 168 | ​ | ​ | (9) | ​ | ​ | 130,824
Total investments | ​ | $ | 1,556,816 | ​ | $ | 168 | ​ | $ | (17) | ​ | $ | 1,556,967
​
| (1) | Included within the fair value of total available-for-sale securities above is $30,022 of corporate investments and $100,802 of funds held for clients.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | unrealized | ​ | unrealized | ​ | ​
Type of Issue | ​ | cost | ​ | gains |  | losses |  | Fair value
Cash and cash equivalents | ​ | $ | 75,902 | ​ | $ | 1 | ​ | $ | (3) | ​ | $ | 75,900
Funds held for clients' cash and cash equivalents | ​ | ​ | 1,660,771 | ​ | ​ | 1 | ​ | ​ | (1) | ​ | ​ | 1,660,771
Available-for-sale securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial paper | ​ | ​ | 148,627 | ​ | ​ | 7 | ​ | ​ | (8) | ​ | ​ | 148,626
Corporate bonds | ​ | ​ | 22,511 | ​ | ​ | 54 | ​ | ​ | (1) | ​ | ​ | 22,564
Asset-backed securities | ​ | ​ | 55,857 | ​ | ​ | 68 | ​ | ​ | (14) | ​ | ​ | 55,911
U.S. treasury securities | ​ | ​ | 33,891 | ​ | ​ | 9 | ​ | ​ | (3) | ​ | ​ | 33,897
Total available-for-sale securities (2) | ​ | ​ | 260,886 | ​ | ​ | 138 | ​ | ​ | (26) | ​ | ​ | 260,998
Total investments | ​ | $ | 1,997,559 | ​ | $ | 140 | ​ | $ | (30) | ​ | $ | 1,997,669
​
| (2) | Included within the fair value of total available-for-sale securities above is $76,475 of corporate investments and $184,523 of funds held for clients.
Schedule of the classification of investments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ | ​ | 2019 |  | 2019
Cash and cash equivalents | ​ | $ | 132,476 | ​ | $ | 75,900
Corporate investments | ​ | ​ | 29,314 | ​ | ​ | 69,849
Funds held for clients | ​ | ​ | 1,394,469 | ​ | ​ | 1,845,294
Long-term prepaid expenses and other | ​ | ​ | 708 | ​ | ​ | 6,626
Total investments | ​ | $ | 1,556,967 | ​ | $ | 1,997,669
Schedule of available-for-sale securities that have been in an unrealized loss position for less than and greater than 12 months | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2019
​ | ​ | Securities in an | ​ | Securities in an | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | unrealized loss | ​ | unrealized loss | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | position for less | ​ | position for greater | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | than 12 months | ​ | than 12 months | ​ | Total
​ | ​ | Gross | ​ | ​ | ​ | Gross | ​ | ​ | ​ | Gross | ​ | ​
​ | ​ | unrealized | ​ | ​ | ​ | ​ | unrealized | ​ | ​ | ​ | ​ | unrealized | ​ | ​ | ​
​ | ​ | losses | ​ | Fair value | ​ | losses | ​ | Fair value | ​ | losses | ​ | Fair value
Commercial paper | ​ | $ | (2) | ​ | $ | 19,055 | ​ | $ | — | ​ | $ | — | ​ | $ | (2) | ​ | $ | 19,055
Corporate bonds | ​ | ​ | (1) | ​ | ​ | 1,500 | ​ | ​ | (3) | ​ | ​ | 3,701 | ​ | ​ | (4) | ​ | ​ | 5,201
Asset-backed securities | ​ | ​ | (1) | ​ | ​ | 386 | ​ | ​ | (2) | ​ | ​ | 2,958 | ​ | ​ | (3) | ​ | ​ | 3,344
Total available-for-sale securities | ​ | $ | (4) | ​ | $ | 20,941 | ​ | $ | (5) | ​ | $ | 6,659 | ​ | $ | (9) | ​ | $ | 27,600
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019
​ | ​ | Securities in an | ​ | Securities in an | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | unrealized loss | ​ | unrealized loss | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | position for less | ​ | position for greater | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | than 12 months | ​ | than 12 months | ​ | Total
​ | ​ | Gross | ​ | ​ | ​ | Gross | ​ | ​ | ​ | Gross | ​ | ​
​ | ​ | unrealized | ​ | ​ | ​ | ​ | unrealized | ​ | ​ | ​ | ​ | unrealized | ​ | ​ | ​
​ | ​ | losses | ​ | Fair value | ​ | losses | ​ | Fair value | ​ | losses | ​ | Fair value
Commercial paper | ​ | $ | (8) | ​ | $ | 79,890 | ​ | $ | — | ​ | $ | — | ​ | $ | (8) | ​ | $ | 79,890
Corporate bonds | ​ | ​ | (1) | ​ | ​ | 2,908 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1) | ​ | ​ | 2,908
Asset-backed securities | ​ | ​ | (13) | ​ | ​ | 29,007 | ​ | ​ | (1) | ​ | ​ | 266 | ​ | ​ | (14) | ​ | ​ | 29,273
U.S. treasury securities | ​ | ​ | (3) | ​ | ​ | 19,200 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (3) | ​ | ​ | 19,200
Total available-for-sale securities | ​ | $ | (25) | ​ | $ | 131,005 | ​ | $ | (1) | ​ | $ | 266 | ​ | $ | (26) | ​ | $ | 131,271
Schedule of expected maturities of available-for-sale securities | Expected maturities of available-for-sale securities at December 31, 2019 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | ​
​ | ​ | cost | ​ | Fair value
One year or less | ​ | $ | 232,303 | ​ | $ | 232,346
One year to two years | ​ | ​ | 28,583 | ​ | ​ | 28,652
Total available-for-sale securities | ​ | $ | 260,886 | ​ | $ | 260,998

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