Fair Value Measurement (Tables)

3 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Summary of Fair Value of Assets and Liabilities Measured on Recurring Basis

he following tables set forth the fair value of assets and liabilities that were measured at fair value on a recurring basis based on the three-tier fair value hierarchy as of the dates presented (in thousands):

	September 30, 2021
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	1,704,202	$	—	$	—	$	1,704,202
U.S. treasury securities		74,998		—		—		74,998
		1,779,200		—		—		1,779,200
Short-term investments:
Corporate bonds		—		580,485		—		580,485
U.S. treasury securities		198,481		—		—		198,481
Asset-backed securities		—		32,019		—		32,019
Certificates of deposit		—		10,569		—		10,569
		198,481		623,073		—		821,554
Funds held for customers:
Restricted cash equivalents		5,150		52,814		—		57,964
Corporate bonds		—		575,327		—		575,327
Certificates of deposit		—		385,097		—		385,097
Municipal bonds		—		14,726		—		14,726
Asset-backed securities		—		35,712		—		35,712
U.S. treasury securities		6,113		—		—		6,113
		11,263		1,063,676		—		1,074,939
Beneficial interest derivative on    card receivables sold		—		—		2,693		2,693
Total assets measured at fair value	$	1,988,944	$	1,686,749	$	2,693	$	3,678,386

	June 30, 2021
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	365,550	$	—	$	—	$	365,550
Corporate bonds		—		15,499		—		15,499
		365,550		15,499		—		381,049
Short-term investments:
Corporate bonds		—		466,459		—		466,459
U.S. treasury securities		155,674		—		—		155,674
Asset-backed securities		—		26,406		—		26,406
Certificates of deposit		—		6,775		—		6,775
		155,674		499,640		—		655,314
Funds held for customers:
Restricted cash equivalents		6,887		79,435		—		86,322
Corporate bonds		—		516,350		—		516,350
Certificates of deposit		—		326,927		—		326,927
Municipal bonds		—		42,957		—		42,957
Asset-backed securities		—		25,085		—		25,085
U.S. treasury securities		3,009		—		—		3,009
		9,896		990,754		—		1,000,650
Beneficial interest derivative on    card receivables sold		—		—		2,252		2,252
Total assets measured at fair value	$	531,120	$	1,505,893	$	2,252	$	2,039,265