| Schedule of investments |
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Amortized
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Gross Unrealized
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Estimated
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Cost
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Gains
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Losses(1)
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Fair Value
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(In thousands)
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September 30, 2016
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Short-term investments:
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Available-for-sale securities:
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U.S. government and agency debt securities
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$
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193,228
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$
|
219
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|
$
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(1)
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$
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193,446
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Corporate debt securities
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142,692
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|
108
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(41)
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142,759
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International government agency debt securities
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10,998
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16
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(1)
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11,013
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Total short-term investments
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346,918
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|
343
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(43)
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347,218
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Long-term investments:
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Available-for-sale securities:
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U.S. government and agency debt securities
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|
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57,578
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|
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—
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(81)
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|
|
57,497
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Corporate debt securities
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8,774
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—
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(13)
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|
|
8,761
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International government agency debt securities
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5,515
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—
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(8)
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5,507
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71,867
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—
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(102)
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71,765
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Held-to-maturity securities:
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|
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|
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Fixed term deposit account
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1,667
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|
—
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—
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1,667
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Certificates of deposit
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|
|
1,715
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—
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—
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1,715
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|
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3,382
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—
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—
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3,382
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Total long-term investments
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75,249
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—
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(102)
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75,147
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Total investments
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$
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422,167
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$
|
343
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|
$
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(145)
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$
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422,365
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December 31, 2015
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Short-term investments:
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|
|
|
|
|
|
|
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|
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Available-for-sale securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Corporate debt securities
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|
$
|
175,098
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$
|
20
|
|
$
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(179)
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|
$
|
174,939
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|
U.S. government and agency debt securities
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|
|
141,789
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|
51
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(104)
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141,736
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International government agency debt securities
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37,070
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—
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(76)
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36,994
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Total short-term investments
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353,957
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|
71
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(359)
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353,669
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Long-term investments:
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|
|
|
|
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Available-for-sale securities:
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|
|
|
|
|
|
|
|
|
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U.S. government and agency debt securities
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|
|
211,216
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—
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(764)
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|
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210,452
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Corporate debt securities
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38,381
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—
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(111)
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38,270
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International government agency debt securities
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12,039
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—
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(71)
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11,968
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|
|
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261,636
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—
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(946)
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260,690
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Held-to-maturity securities:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed term deposit account
|
|
|
1,666
|
|
|
—
|
|
|
—
|
|
|
1,666
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|
|
Certificates of deposit
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|
|
1,715
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|
|
—
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|
|
—
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|
1,715
|
|
|
|
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3,381
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—
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|
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—
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3,381
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Total long-term investments
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265,017
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—
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(946)
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|
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264,071
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Total investments
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|
$
|
618,974
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|
$
|
71
|
|
$
|
(1,305)
|
|
$
|
617,740
|
|
|
|
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|
(1)
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Losses represent marketable securities that were in loss positions for less than one year.
|
|
| The cost and fair value of available-for-sale and held-to-maturity securities by contractual maturity |
The Company’s available-for-sale and held-to-maturity securities at September 30, 2016 had contractual maturities in the following periods:
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Available-for-sale
|
|
Held-to-maturity
|
|
|
|
|
Amortized
|
|
Estimated
|
|
Amortized
|
|
Estimated
|
|
|
(In thousands)
|
|
Cost
|
|
Fair Value
|
|
Cost
|
|
Fair Value
|
|
|
Within 1 year
|
|
$
|
253,081
|
|
$
|
253,156
|
|
$
|
1,715
|
|
$
|
1,715
|
|
|
After 1 year through 5 years
|
|
|
165,704
|
|
|
165,827
|
|
|
1,667
|
|
|
1,667
|
|
|
Total
|
|
$
|
418,785
|
|
$
|
418,983
|
|
$
|
3,382
|
|
$
|
3,382
|
|
|