Fair Value Measurement (Tables)

3 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

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

The 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, 2022
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	1,413,916	$	—	$	—	$	1,413,916
Corporate bonds	—		33,243		—		33,243
U.S. treasury securities	19,976		—		—		19,976
	1,433,892		33,243		—		1,467,135
Short-term investments:
Corporate bonds	—		595,286		—		595,286
U.S. treasury securities	372,350		—		—		372,350
Asset-backed securities	—		21,055		—		21,055
Certificates of deposit	—		45,846		—		45,846
	372,350		662,187		—		1,034,537
Funds held for customers:
Restricted cash equivalents:
Money market funds	26,988		—		—		26,988
Corporate bonds	—		147,303		—		147,303
	26,988		147,303		—		174,291
Short-term investments:
Corporate bonds	—		850,613		—		850,613
Certificates of deposit	—		413,178		—		413,178
Municipal bonds	—		5,020		—		5,020
Asset-backed securities	—		77,594		—		77,594
U.S. treasury securities	37,258		—		—		37,258
	37,258		1,346,405		—		1,383,663
Beneficial interest derivative on card receivables sold	—		—		470		470
Total assets measured at fair value	$	1,870,488	$	2,189,138	$	470	$	4,060,096

	June 30, 2022
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	1,424,259	$	—	$	—	$	1,424,259
Corporate bonds	—		11,430		—		11,430
	1,424,259		11,430		—		1,435,689
Short-term investments:
Corporate bonds	—		597,204		—		597,204
U.S. treasury securities	421,728		—		—		421,728
Asset-backed securities	—		51,406		—		51,406
Certificates of deposit	—		38,155		—		38,155
	421,728		686,765		—		1,108,493
Funds held for customers:
Restricted cash equivalents:
Money market funds	34,703		—		—		34,703
Corporate bonds	—		133,557		—		133,557
	34,703		133,557		—		168,260
Short-term investments:
Corporate bonds	—		807,685		—		807,685
Certificates of deposit	—		397,533		—		397,533
Municipal bonds	—		6,516		—		6,516
Asset-backed securities	—		69,912		—		69,912
U.S. treasury securities	3,072		—		—		3,072
	3,072		1,281,646		—		1,284,718
Beneficial interest derivative on card receivables sold	—		—		398		398
Total assets measured at fair value	$	1,883,762	$	2,113,398	$	398	$	3,997,558