| MARKETABLE SECURITIES |
MARKETABLE SECURITIES
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
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| As of December 31, 2020 (In thousands) |
Amortized
成本 |
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Gross
未实现
Gains |
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Gross
未实现
损失 |
|
公平的
价值 |
| 公司债务证券 |
$ |
416926年 |
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$ |
1,445 |
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$ |
(23) |
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$ |
418,348 |
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| Money market funds and other |
795,712 |
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— |
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— |
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795,712 |
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| Municipal securities |
39,190 |
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165 |
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(3) |
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39,352 |
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| Sovereign securities |
3,056 |
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3 |
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— |
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3,059 |
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| U.S. Government agency securities |
145,774 |
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325 |
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(3) |
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146,096 |
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| 美国国库券 |
190282年 |
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708 |
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(1) |
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190,989 |
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| Subtotal |
1,590,940 |
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2,646 |
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(30) |
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1,593,556 |
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Add: Time deposits
(1)
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160301年 |
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— |
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— |
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160301年 |
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| Less: Cash equivalents |
888,792 |
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1 |
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— |
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888,793 |
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| Marketable securities |
$ |
862,449 |
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$ |
2,645 |
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$ |
(30) |
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$ |
865,064 |
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| As of June 30, 2020 (In thousands) |
Amortized
成本 |
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Gross
未实现
Gains |
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Gross
未实现
损失 |
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公平的
价值 |
| 公司债务证券 |
$ |
379,334 |
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$ |
2,673 |
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$ |
（50） |
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$ |
381,957 |
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| Money market funds and other |
694,950 |
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— |
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— |
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694,950 |
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| Municipal securities |
28,859 |
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251 |
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— |
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29,110 |
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| Sovereign securities |
2,009 |
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8 |
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— |
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2,017 |
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| U.S. Government agency securities |
106,091 |
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252 |
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(7) |
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106,336 |
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| 美国国库券 |
179,631 |
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1,564 |
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(2) |
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181,193 |
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| Subtotal |
1,390,874 |
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4,748 |
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(59) |
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1,395,563 |
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Add: Time deposits
(1)
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124,153 |
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— |
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— |
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124,153 |
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| Less: Cash equivalents |
773,653 |
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— |
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— |
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773,653 |
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| Marketable securities |
$ |
741,374 |
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$ |
4,748 |
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$ |
(59) |
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$ |
746,063 |
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________________
(1) Time deposits excluded from fair value measurements.
我们的投资组合由最高成熟度为三年的公司和政府证券组成。这些证券的持续时间越长，他们越容易改变市场利率和债券收益率。随着收益率的增加，这些以较低的成本收益率的证券显示出了商标到市场未实现的损失。我们的大多数未实现的损失是由于市场利率和债券收益率的变化所致。我们认为，我们有能力在成熟度时实现所有这些投资的全部价值。截至2020年12月31日，我们在未实现的损失立场上进行了39次投资。下表总结了我们的投资的公允价值和未实现的损失，这些投资处于未实现的损失位置，截至下面指出的日期，没有一个在12个月或更长时间内连续损失位置：
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| As of December 31, 2020 (In thousands) |
公平的价值 |
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Gross
未实现
损失 |
| 公司债务证券 |
$ |
47,474 |
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$ |
(23) |
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| Municipal securities |
6,478 |
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(3) |
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| U.S. Government agency securities |
6,504 |
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(3) |
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| 美国国库券 |
29,252 |
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(1) |
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| 全部的 |
$ |
89,708 |
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$ |
(30) |
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| As of June 30, 2020 (In thousands) |
公平的价值 |
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Gross
未实现
损失 |
| 公司债务证券 |
$ |
44,429 |
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$ |
（50） |
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| Municipal securities |
870 |
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— |
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| U.S. Government agency securities |
9,951 |
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(7) |
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| 美国国库券 |
19,010 |
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(2) |
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| 全部的 |
$ |
74,260 |
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$ |
(59) |
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The contractual maturities of securities classified as available-for-sale, regardless of their classification on our Condensed Consolidated Balance Sheets, as of the date indicated below were as follows:
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| As of December 31, 2020 (In thousands) |
摊余成本 |
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公平的价值 |
| Due within one year |
$ |
468,753 |
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$ |
470,247 |
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| 三年后到期 |
393,696 |
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394,817 |
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$ |
862,449 |
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$ |
865,064 |
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| As of June 30, 2020 (In thousands) |
摊余成本 |
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公平的价值 |
| Due within one year |
$ |
415,915 |
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$ |
418,169 |
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| 三年后到期 |
325,459 |
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327,894 |
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$ |
741,374 |
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$ |
746,063 |
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实际期限可能与合同期限有所不同，因为借款人可能有权在有或没有电话或预付款罚款的情况下拨打或预付义务。截至2020年和2019年12月31日，截至12月31日和2019年12月31日的三个月中，实现的销售证券损益并不重要。
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