MARKETABLE SECURITIES (Tables)

12 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:


As of June 30, 2022 (In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate debt securities	$	481,881	$	3	$	(8,915)	$	472,969
Money market funds and other	948,027		—		—		948,027
Municipal securities	61,973		—		(1,249)		60,724
Sovereign securities	6,041		2		(53)		5,990
U.S. Government agency securities	92,273		26		(1,183)		91,116
U.S. Treasury securities	378,871		18		(8,378)		370,511
Equity securities(1)	3,211		7,824		—		11,035

Subtotal	1,972,277		7,873		(19,778)		1,960,372
Add: Time deposits(2)	274,873		—		—		274,873
Less: Cash equivalents	1,112,146		—		(1)		1,112,145
Marketable securities	$	1,135,004	$	7,873	$	(19,777)	$	1,123,100

As of June 30, 2021 (In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate debt securities	$	468,192	$	689	$	(135)	$	468,746
Money market funds and other	691,375		—		—		691,375
Municipal securities	70,155		106		(33)		70,228
Sovereign securities	3,045		7		—		3,052
U.S. Government agency securities	145,810		160		(49)		145,921
U.S. Treasury securities	233,052		129		(117)		233,064
Equity securities(1)	3,211		26,719		—		29,930

Subtotal	1,614,840		27,810		(334)		1,642,316
Add: Time deposits(2)	210,636		—		—		210,636
Less: Cash equivalents	793,040		—		—		793,040
Marketable securities	$	1,032,436	$	27,810	$	(334)	$	1,059,912

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(1)Unrealized gains on equity securities included in our portfolio consist of the initial fair value adjustment recorded upon a security becoming marketable.

(2)Time deposits excluded from fair value measurements.

Unrealized Gain (Loss) on Investments

The following table summarizes the fair value and gross unrealized losses of our investments that were in an unrealized loss position as of the dates indicated below:


As of June 30, 2022 (In thousands)	Fair Value		Gross Unrealized Losses
Corporate debt securities	$	458,699	$	(8,915)
Municipal securities	58,722		(1,249)
Sovereign securities	2,963		(53)
U.S. Government agency securities	60,285		(1,183)
U.S. Treasury securities	336,819		(8,378)
Total	$	917,488	$	(19,778)


As of June 30, 2021 (In thousands)	Fair Value		Gross Unrealized Losses
Corporate debt securities	$	161,012	$	(135)
Municipal securities	21,605		(33)

U.S. Government agency securities	38,904		(49)
U.S. Treasury securities	117,761		(117)
Total	$	339,282	$	(334)

Schedule of Contractual Maturities of Securities

The contractual maturities of securities classified as available-for-sale, regardless of their classification on our Consolidated Balance Sheets, as of the date indicated below were as follows:


As of June 30, 2022 (In thousands)	Amortized Cost		Fair Value
Due within one year	$	571,149	$	573,696
Due after one year through three years	563,855		549,404
	$	1,135,004	$	1,123,100