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Corporate Investments and Funds Held For Clients (Tables) | 6 Months Ended
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Dec. 31, 2021
Corporate Investments and Funds Held for Clients [Abstract] |
Schedule of corporate investments and funds held for clients | Corporate investments and funds held for clients consist of the following:
|  | June 30, 2021
Type of Issue |  | Amortized cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value
Cash and cash equivalents |  | $ | 202,287 |  | $ | — |  | $ | — |  | $ | 202,287
Funds held for clients' cash and cash equivalents |  | 1,743,594 |  | — |  | — |  | 1,743,594
Available-for-sale securities: |  |  |  |  |  |  |  |
Corporate bonds |  | 13,390 |  | 70 |  | — |  | 13,460
Asset-backed securities |  | 7,062 |  | 17 |  | — |  | 7,079
Total available-for-sale securities (1) |  | 20,452 |  | 87 |  | — |  | 20,539
Total investments |  | $ | 1,966,333 |  | $ | 87 |  | $ | — |  | $ | 1,966,420
| (1) | Included within the fair value of total available-for-sale securities above is $4,456 of corporate investments and $16,083 of funds held for clients.
|  | December 31, 2021
Type of Issue |  | Amortized cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value
Cash and cash equivalents |  | $ | 84,104 |  | $ | — |  | $ | — |  | $ | 84,104
Funds held for clients' cash and cash equivalents |  | 1,770,689 |  | — |  | — |  | 1,770,689
Available-for-sale securities: |  |  |  |  |  |  |  |
Commercial paper |  | 62,240 |  | 3 |  | (16) |  |  | 62,227
Corporate bonds |  | 42,873 |  | — |  | (286) |  |  | 42,587
Asset-backed securities |  | 10,361 |  | 1 |  | (26) |  |  | 10,336
Certificates of deposit |  | 20,500 |  | — |  | (7) |  | 20,493
U.S treasury securities |  | 4,042 |  | — |  | (19) |  |  | 4,023
U.S government agency securities |  | 7,000 |  | — |  | (101) |  |  | 6,899
Other |  | 2,824 |  | — |  | (15) |  |  | 2,809
Total available-for-sale securities (2) |  | 149,840 |  | 4 |  | (470) |  | 149,374
Total investments |  | $ | 2,004,633 |  | $ | 4 |  | $ | (470) |  |  | $ | 2,004,167
| (2) | All available-for-sale securities are included in funds held for clients.
Schedule of the classification of investments | Classification of investments on the unaudited consolidated balance sheets is as follows:
| June 30, 2021 |  | December 31, 2021
Cash and cash equivalents | $ | 202,287 |  | $ | 84,104
Corporate investments | 4,456 |  | —
Funds held for clients | 1,759,677 |  | 1,920,063
Total investments | $ | 1,966,420 |  | $ | 2,004,167
Schedule of available-for-sale securities that have been in an unrealized loss position for less than 12 months | Available-for-sale securities that have been in an unrealized loss position for a period of less than 12 months as of December 31, 2021 had fair market value as follows:
| December 31, 2021
| Securities in an unrealized loss position for less than 12 months
| Gross unrealized losses |  | Fair Value
Commercial paper | $ | (16) |  |  | $ | 35,463
Corporate bonds | (286) |  |  | 42,587
Asset-backed securities | (26) |  |  | 9,664
Certificates of deposit | (7) |  |  | 15,243
U.S. treasury securities | (19) |  |  | 4,023
U.S. government agency securities | (101) |  |  | 6,899
Other | (15) |  |  | 2,809
Total available-for-sale securities | $ | (470) |  |  | $ | 116,688
Schedule of expected maturities of available-for-sale securities | Expected maturities of available-for-sale securities at December 31, 2021 are as follows:
| Amortized cost |  | Fair value
One year or less | $ | 94,906 |  | $ | 94,867
One year to two years | 33,284 |  | 33,124
Two years to three years | 16,637 |  | 16,437
Three years to five years | 5,013 |  | 4,946
Total available-for-sale securities | $ | 149,840 |  | $ | 149,374

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