Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS

v3.20.2
FAIR VALUE MEASUREMENTS
3 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Our financial assets and liabilities are measured and recorded at fair value, except for our debt and certain equity investments in privately-held companies. Equity investments without a readily available fair value are accounted for using the measurement alternative. The measurement alternative is calculated as cost minus impairment, if any, plus or minus changes resulting from observable price changes.
Our non-financial assets, such as goodwill, intangible assets, and land, property and equipment, are assessed for impairment when an event or circumstance indicates that an other-than-temporary decline in value may have occurred.
Fair Value of Financial Instruments. We have evaluated the estimated fair value of financial instruments using available market information and valuations as provided by third-party sources. The use of different market assumptions and/or estimation methodologies could have a significant effect on the estimated fair value amounts. The fair value of our cash equivalents, accounts receivable, accounts payable and other current assets and liabilities approximate their carrying amounts due to the relatively short maturity of these items.
Fair Value Hierarchy. The authoritative guidance for fair value measurements establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:
Level 1 Valuations based on quoted prices in active markets for identical assets or liabilities that the entity has the ability to access.
Level 2 Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.
Level 3 Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
截至2020年9月30日,仪器的类型valued based on quoted market prices in active markets included money market funds, certain U.S. Treasury securities and U.S. Government agency securities. Such instruments are generally classified within Level 1 of the fair value hierarchy.
根据其他可观察的投入价值的工具类型包括公司债务证券，主权证券，市政证券和某些美国国库券。用于重视这些工具的市场投入通常包括市场收益率，报告的交易和经纪人 /经销商报价。此类工具通常在公允价值层次结构的2级中分类。
我们执行外币合同的主要市场是在价格透明度相对较高的非处方环境中的机构市场。市场参与者通常是大型金融机构。我们的外币合同的估值意见是基于报价的价格和引用的公共数据来源定价间隔，不涉及管理判断。这些合同通常在公允价值层次结构的2级中分类。
The fair value of deferred payments and contingent consideration payable, the majority of which were recorded in connection with business combinations, were classified as Level 3 and estimated using significant inputs that were not observable in the market. See Note 6 “Business Combinations” of the Notes to the Condensed Consolidated Financial Statements for additional information.
Financial assets (excluding cash held in operating accounts and time deposits) and liabilities measured at fair value on a recurring basis, as of the date indicated below, were presented on our Condensed Consolidated Balance Sheets as follows:
Quoted Prices in Active Markets for Identical Assets 其他可观察到的重要输入 Little or No Market Activity Inputs
As of September 30, 2020 (In thousands) 全部的 (Level 1) （2级） （3级）
Assets
Cash equivalents:
公司债务证券 $ 4,019 $ — $ 4,019 $ —
货币市场基金和其他 682,785 682,785 — —
美国国库券 8,400 — 8,400 —
可销售的证券：
公司债务证券 400,277 — 400,277 —
Municipal securities 35,629 — 35,629 —
U.S. Government agency securities 137,487 137,487 — —
美国国库券 169,777 131,786 37,991 —
总现金当量和可销售证券 (1)
1,438,374 952,058 486,316 —
其他流动资产：
Derivative assets 3,198 — 3,198 —
Other non-current assets:
执行延期储蓄计划 223,986 172,226 51,760 —
全部的financial assets (1)
$ 1,665,558 $ 1,124,284 $ 541,274 $ —
负债
Derivative liabilities $ (2,886) $ — $ (2,886) $ —
Deferred payments (6,825) — — (6,825)
应付费用应付 (12,974) — — (12,974)
总金融负债 $ (22,685) $ — $ (2,886) $ (19,799)
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（1）截至2020年9月30日，不包括在运营帐户和时间存款中持有的4.712亿美元现金。
Financial assets (excluding cash held in operating accounts and time deposits) and liabilities measured at fair value on a recurring basis, as of the date indicated below, were presented on our Condensed Consolidated Balance Sheets as follows:
Quoted Prices in Active Markets for Identical Assets 其他可观察到的重要输入 Little or No Market Activity Inputs
As of June 30, 2020 (In thousands) 全部的 (Level 1) （2级） （3级）
Assets
Cash equivalents:
货币市场基金和其他 $ 694,950 $ 694,950 $ — $ —
可销售的证券：
公司债务证券 381,957 — 381,957 —
Municipal securities 29,110 — 29,110 —
Sovereign securities 2,017 — 2,017 —
U.S. Government agency securities 106,336 106,336 — —
美国国库券 181,193 151,210 29,983 —
总现金当量和可销售证券 (1)
1,395,563 952,496 443,067 —
其他流动资产：
Derivative assets 2,077 — 2,077 —
Other non-current assets:
执行延期储蓄计划 213,487 166,000 47,487 —
全部的financial assets (1)
$ 1,611,127 $ 1,118,496 $ 492,631 $ —
负债
Derivative liabilities $ （1,410） $ — $ （1,410） $ —
Deferred payments （6,750） — — （6,750）
应付费用应付 （15,513） — — （15,513）
总金融负债 $ （23,673） $ — $ （1,410） $ （22,263）
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（1）截至2020年6月30日，在运营帐户和时间存款中排除了4.608亿美元的现金。
截至2020年9月30日的三个月，在1级，第2级和3级公允价值测量之间没有转移。请参阅注释8的票据“债务”，以披露我们高级资深的公允价值的凝结合并财务报表笔记。
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