Corporate Investments and Funds Held For Clients (Tables)

12 Months Ended

Jun. 30, 2020

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.

	June 30, 2020
			Gross		Gross
	Amortized		unrealized		unrealized
Type of Issue	cost		gains		losses		Fair value
Cash and cash equivalents	$	250,851	$	—	$	—	$	250,851
Funds held for clients' cash and cash equivalents		1,241,282		—		—		1,241,282
Available-for-sale securities:
Commercial paper		6,643		6		—		6,649
Corporate bonds		44,343		414		—		44,757
Asset-backed securities		49,978		424		—		50,402
U.S. treasury securities		21,302		67		—		21,369
Total available-for-sale securities (2)		122,266		911		—		123,177
Total investments	$	1,614,399	$	911	$	—	$	1,615,310

(2) Included within the fair value of total available-for-sale securities above is $37,155 of Corporate investments and $86,022 of Funds held for clients.

Schedule of the classification of investments

	June 30,		June 30,
	2019		2020
Cash and cash equivalents	$	132,476	$	250,851
Corporate investments		29,314		34,556
Funds held for clients		1,394,469		1,327,304
Long-term prepaid expenses and other		708		2,599
Total investments	$	1,556,967	$	1,615,310

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

Schedule of expected maturities of available-for-sale securities

	Amortized
	cost		Fair value
One year or less	$	106,647	$	107,293
One year to two years		15,619		15,884
Total available-for-sale securities	$	122,266	$	123,177