Investments in Marketable Securities

9 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Investments in Marketable SecuritiesThe following table summarizes the Company's investments in marketable securities:


	March 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in millions)
Corporate bonds	$	448.6	$	0.1	$	(5.6)	$	443.1
U.S. treasury securities	300.7		2.8		—		303.5
Asset-backed securities	106.3		—		(0.3)		106.0
Commercial paper	64.3		—		—		64.3
Certificate of deposits	45.5		—		(0.1)		45.4
	$	965.3	$	2.9	$	(6.0)	$	962.3
Less: Restricted marketable securities ⁽¹⁾							$	38.6
Total marketable securities							$	923.7

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(1) The Company is required to pledge or otherwise restrict a portion of cash, cash equivalents, and marketable securities as collateral for standby letters of credit. The Company classifies cash, cash equivalents, and marketable securities with use restrictions of less than twelve months as "Prepaid expenses and other assets" and of twelve months or longer as non-current "Other assets" on its condensed consolidated balance sheets.