| 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, 2014 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
|
U.S. Treasury securities
|
$
|
314,760
|
|
|
$
|
106
|
|
|
$
|
(144
|
)
|
|
$
|
314,722
|
|
|
U.S. Government agency securities
|
694,683
|
|
|
219
|
|
|
(553
|
)
|
|
694,349
|
|
|
Municipal securities
|
33,057
|
|
|
8
|
|
|
(33
|
)
|
|
33,032
|
|
|
Corporate debt securities
|
725,124
|
|
|
453
|
|
|
(888
|
)
|
|
724,689
|
|
|
Money market and other
|
414,875
|
|
|
—
|
|
|
—
|
|
|
414,875
|
|
|
Sovereign securities
|
51,547
|
|
|
22
|
|
|
(31
|
)
|
|
51,538
|
|
|
Subtotal
|
2,234,046
|
|
|
808
|
|
|
(1,649
|
)
|
|
2,233,205
|
|
|
Add: Time deposits
(1)
|
21,891
|
|
|
—
|
|
|
—
|
|
|
21,891
|
|
|
Less: Cash equivalents
|
473,132
|
|
|
—
|
|
|
(4
|
)
|
|
473,128
|
|
|
Marketable securities
|
$
|
1,782,805
|
|
|
$
|
808
|
|
|
$
|
(1,645
|
)
|
|
$
|
1,781,968
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2014 (In thousands)
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
|
U.S. Treasury securities
|
$
|
384,165
|
|
|
$
|
287
|
|
|
$
|
(52
|
)
|
|
$
|
384,400
|
|
|
U.S. Government agency securities
|
867,309
|
|
|
651
|
|
|
(117
|
)
|
|
867,843
|
|
|
Municipal securities
|
96,198
|
|
|
93
|
|
|
(75
|
)
|
|
96,216
|
|
|
Corporate debt securities
|
1,220,794
|
|
|
3,526
|
|
|
(152
|
)
|
|
1,224,168
|
|
|
Money market and other
|
397,517
|
|
|
—
|
|
|
—
|
|
|
397,517
|
|
|
Sovereign securities
|
42,227
|
|
|
46
|
|
|
(9
|
)
|
|
42,264
|
|
|
Subtotal
|
3,008,210
|
|
|
4,603
|
|
|
(405
|
)
|
|
3,012,408
|
|
|
Add: Time deposits
(1)
|
33,509
|
|
|
—
|
|
|
—
|
|
|
33,509
|
|
|
Less: Cash equivalents
|
524,149
|
|
|
—
|
|
|
(8
|
)
|
|
524,141
|
|
|
Marketable securities
|
$
|
2,517,570
|
|
|
$
|
4,603
|
|
|
$
|
(397
|
)
|
|
$
|
2,521,776
|
|
________________
|
|
|
(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, 2014 (In thousands)
|
Fair Value
|
|
Gross
Unrealized
Losses
(1)
|
|
U.S. Treasury securities
|
$
|
218,222
|
|
|
$
|
(144
|
)
|
|
U.S. Government agency securities
|
392,285
|
|
|
(552
|
)
|
|
Municipal securities
|
24,410
|
|
|
(33
|
)
|
|
Corporate debt securities
|
420,180
|
|
|
(885
|
)
|
|
Sovereign securities
|
32,865
|
|
|
(31
|
)
|
|
Total
|
$
|
1,087,962
|
|
|
$
|
(1,645
|
)
|
__________________
|
|
|
(1)
|
Of the total gross unrealized losses, the amount of total gross unrealized losses related to investments that had been in a continuous loss position for
12
months or more was immaterial.
|
|
| Contractual Maturities of Securities |
证券classifie的合同期限d 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, 2014 (In thousands)
|
摊余成本
|
|
Fair Value
|
|
Due within one year
|
$
|
666,565
|
|
|
$
|
666,694
|
|
|
Due after one year through three years
|
1,116,240
|
|
|
1,115,274
|
|
|
|
$
|
1,782,805
|
|
|
$
|
1,781,968
|
|
|