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Corporate Investments and Funds Held For Clients (Tables) | 9 Months Ended
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Mar. 31, 2022
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.
|  | March 31, 2022
Type of Issue |  | Amortized cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value
Cash and cash equivalents |  | $ | 96,465 |  | $ | — |  | $ | — |  | $ | 96,465
Funds held for clients' cash and cash equivalents |  | 4,176,903 |  | — |  | — |  | 4,176,903
Available-for-sale securities: |  |  |  |  |  |  |  |
Commercial paper |  | 49,440 |  | — |  | (113) |  |  | 49,327
Corporate bonds |  | 54,607 |  | 1 |  | (1,289) |  |  | 53,319
Asset-backed securities |  | 8,082 |  | — |  | (135) |  |  | 7,947
Certificates of deposit |  | 23,785 |  | — |  | (50) |  | 23,735
U.S treasury securities |  | 4,036 |  | — |  | (90) |  |  | 3,946
U.S government agency securities |  | 7,000 |  | — |  | (372) |  |  | 6,628
Other |  | 2,823 |  | — |  | (61) |  |  | 2,762
Total available-for-sale securities (2) |  | 149,773 |  | 1 |  | (2,110) |  | 147,664
Total investments |  | $ | 4,423,141 |  | $ | 1 |  | $ | (2,110) |  |  | $ | 4,421,032
| (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 |  | March 31, 2022
Cash and cash equivalents | $ | 202,287 |  | $ | 96,465
Corporate investments | 4,456 |  | —
Funds held for clients | 1,759,677 |  | 4,324,567
Total investments | $ | 1,966,420 |  | $ | 4,421,032
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 March 31, 2022 had fair market value as follows:
| March 31, 2022
| Securities in an unrealized loss position for less than 12 months
| Gross unrealized losses |  | Fair Value
Commercial paper | $ | (113) |  |  | $ | 49,327
Corporate bonds | (1,289) |  |  | 51,909
Asset-backed securities | (135) |  |  | 7,826
Certificates of deposit | (50) |  |  | 22,734
U.S. treasury securities | (90) |  |  | 3,946
U.S. government agency securities | (372) |  |  | 6,628
Other | (61) |  |  | 2,762
Total available-for-sale securities | $ | (2,110) |  |  | $ | 145,132
Schedule of expected maturities of available-for-sale securities | Expected maturities of available-for-sale securities at March 31, 2022 are as follows:
| Amortized cost |  | Fair value
One year or less | $ | 98,775 |  | $ | 98,392
One year to two years | 26,988 |  | 26,369
Two years to three years | 20,000 |  | 19,138
Three years to five years | 4,010 |  | 3,765
Total available-for-sale securities | $ | 149,773 |  | $ | 147,664

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