| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2017 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
|
Corporate debt securities
|
$
|
918,399
|
|
|
$
|
204
|
|
|
$
|
(4,245
|
)
|
|
$
|
914,358
|
|
|
Money market funds and other
|
569,287
|
|
|
—
|
|
|
—
|
|
|
569,287
|
|
|
Sovereign securities
|
11,496
|
|
|
—
|
|
|
(69
|
)
|
|
11,427
|
|
|
U.S. Government agency securities
|
342,325
|
|
|
16
|
|
|
(2,611
|
)
|
|
339,730
|
|
|
U.S. Treasury securities
|
411,669
|
|
|
—
|
|
|
(2,941
|
)
|
|
408,728
|
|
|
Subtotal
|
2,253,176
|
|
|
220
|
|
|
(9,866
|
)
|
|
2,243,530
|
|
|
Add: Time deposits
(1)
|
33,581
|
|
|
—
|
|
|
—
|
|
|
33,581
|
|
|
Less: Cash equivalents
|
592,315
|
|
|
—
|
|
|
—
|
|
|
592,315
|
|
|
Marketable securities
|
$
|
1,694,442
|
|
|
$
|
220
|
|
|
$
|
(9,866
|
)
|
|
$
|
1,684,796
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2017 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
|
Corporate debt securities
|
$
|
1,120,548
|
|
|
$
|
598
|
|
|
$
|
(1,951
|
)
|
|
$
|
1,119,195
|
|
|
Money market funds and other
|
616,039
|
|
|
—
|
|
|
—
|
|
|
616,039
|
|
|
Sovereign securities
|
52,621
|
|
|
—
|
|
|
(56
|
)
|
|
52,565
|
|
|
U.S. Government agency securities
|
510,553
|
|
|
62
|
|
|
(1,789
|
)
|
|
508,826
|
|
|
U.S. Treasury securities
|
374,676
|
|
|
52
|
|
|
(1,429
|
)
|
|
373,299
|
|
|
Subtotal
|
2,674,437
|
|
|
712
|
|
|
(5,225
|
)
|
|
2,669,924
|
|
|
Add: Time deposits
(1)
|
39,389
|
|
|
—
|
|
|
—
|
|
|
39,389
|
|
|
Less: Cash equivalents
|
845,639
|
|
|
—
|
|
|
(15
|
)
|
|
845,624
|
|
|
Marketable securities
|
$
|
1,868,187
|
|
|
$
|
712
|
|
|
$
|
(5,210
|
)
|
|
$
|
1,863,689
|
|
________________
|
|
|
(1)
|
Time deposits excluded from fair value measurements.
|
|
| Investments with Gross Unrealized Losses |
The following table summarizes the fair value and gross unrealized losses of the Company’s investments that were in an unrealized loss position as of the date indicated below:
|
|
|
|
|
|
|
|
|
|
As of December 31, 2017 (In thousands)
|
Fair Value
|
|
Gross
Unrealized
Losses
(1)
|
|
Corporate debt securities
|
$
|
792,436
|
|
|
$
|
(4,245
|
)
|
|
U.S. Treasury securities
|
404,982
|
|
|
(2,941
|
)
|
|
U.S. Government agency securities
|
334,064
|
|
|
(2,611
|
)
|
|
Sovereign securities
|
11,427
|
|
|
(69
|
)
|
|
Total
|
$
|
1,542,909
|
|
|
$
|
(9,866
|
)
|
__________________
|
|
|
(1)
|
As of
December 31, 2017
, the amount of total gross unrealized losses related to investments that had been in a continuous loss position for
12
months or more was
$5.3 million
.
|
|
| Contractual Maturities of Securities |
The contractual maturities of securities classified as available-for-sale, regardless of their classification on the Company’s Condensed Consolidated Balance Sheet, as of the date indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
As of December 31, 2017 (In thousands)
|
摊销有限公司st
|
|
Fair Value
|
|
Due within one year
|
$
|
521,930
|
|
|
$
|
520,623
|
|
|
Due after one year through three years
|
1,172,512
|
|
|
1,164,173
|
|
|
|
$
|
1,694,442
|
|
|
$
|
1,684,796
|
|
|