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Marketable Investment Securities
 9 Months Ended
Mar. 31, 2014
Marketable Investment Securities
(2) Marketable Investment Securities

The Company has classified its marketable investment securities as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses, net of the related tax effect, included in accumulated other comprehensive loss in stockholders’ equity until realized. Gains and losses on investment security transactions are reported on the specific-identification method. Dividend and interest income are recognized when earned. The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of security at March 31, 2014 and June 30, 2013 were as follows:

 

            Gross      Gross        
            unrealized      unrealized        
     Amortized      holding      holding     Estimated  
(In thousands)    cost      gains      losses     fair value  

At March 31, 2014:

           

Cash and cash equivalents:

           

Cash

    $ 82,536       $ —         $ —        $ 82,536   

Cash equivalents

      3,262         —           —          3,262   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total cash and cash equivalents

      85,798         —           —          85,798   
  

 

 

     

 

 

     

 

 

    

 

 

  

Available-for-sale securities:

           

Corporate bonds and notes

      49,396         43         (3 )      49,436   

Municipal bonds

      123,997         286         (8 )      124,275   

Federal agency issues

      18,187         17           18,204   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total available-for-sale securities

      191,580         346         (11 )      191,915   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total cash, cash equivalents and available-for-sale securities

    $ 277,378       $ 346       $ (11 )    $ 277,713   
  

 

 

     

 

 

     

 

 

    

 

 

  

 

            Gross      Gross        
            unrealized      unrealized        
     Amortized      holding      holding     Estimated  
(In thousands)    cost      gains      losses     fair value  

At June 30, 2013:

           

Cash and cash equivalents:

           

Cash

    $ 40,412       $ —         $ —        $ 40,412   

Cash equivalents

      63,653         8         —          63,661   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total cash and cash equivalents

      104,065         8         —          104,073   
  

 

 

     

 

 

     

 

 

    

 

 

  

Available-for-sale securities:

           

Corporate bonds and notes

      71,626         13         (15 )      71,624   

Municipal bonds

      251,513         109         (537 )      251,085   

Federal agency issues

      104,293         24         (35 )      104,282   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total available-for-sale securities

      427,432         146         (587 )      426,991   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total cash, cash equivalents and available-for-sale securities

    $ 531,497       $ 154       $ (587 )    $ 531,064   
  

 

 

     

 

 

     

 

 

    

 

 

  

Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities are as follows at March 31, 2014:

 

     Amortized      Estimated  
(In thousands)    cost      fair value  

Cash

    $ 82,536       $ 82,536   

Cash equivalents

      3,262         3,262   

Available-for-sale:

      

Due within one year

      126,235         126,360   

Due after one year through five years

      65,345         65,555   

Due after five years

      —           —     
  

 

 

     

 

 

  
   $ 277,378       $ 277,713