Short-Term Investments (Tables)

6 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Short-term investments consisted of the following as of the dates presented (in thousands):


	December 31, 2022
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Corporate bonds	$	644,658	$	70	$	(3,461)	$	641,267
U.S. treasury securities	315,325		21		(1,641)		313,705
Asset-backed securities	31,368		10		(108)		31,270
Certificates of deposit	54,178		—		—		54,178
U.S. agency securities	26,079		51		(11)		26,119
Total	$	1,071,607	$	152	$	(5,221)	$	1,066,538


	June 30, 2022
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Corporate bonds	$	601,987	$	3	$	(4,786)	$	597,204
U.S. treasury securities	424,644		1		(2,917)		421,728
Asset-backed securities	51,622		—		(216)		51,406
Certificates of deposit	38,155		—		—		38,155
Total	$	1,116,408	$	4	$	(7,919)	$	1,108,493

Schedule of Gross Unrealized Loss and Fair Values

The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of the dates presented (in thousands):


	December 31, 2022
	Fair value		Unrealized losses
Corporate bonds	$	354,715	$	(3,461)
U.S. treasury securities	223,429		(1,641)
Asset backed securities	27,508		(108)
U.S. agency securities	8,769		(11)
Total	$	614,421	$	(5,221)


	June 30, 2022
	Fair value		Unrealized losses
Corporate bonds	$	392,699	$	(4,786)
U.S. treasury securities	411,787		(2,917)
Asset backed securities	51,406		(216)
Total	$	855,892	$	(7,919)