Fair Value Measurement (Tables)

6 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Summary of Fair Value of Assets and Liabilities Measured on Recurring Basis

he following tables set forth the fair value of assets and liabilities that were measured at fair value on a recurring basis based on the three-tier fair value hierarchy as of the dates presented (in thousands):

	December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	1,333,390	$	—	$	—	$	1,333,390
Short-term investments:
Corporate bonds		—		691,554		—		691,554
U.S. treasury securities		358,866		—		—		358,866
Asset-backed securities		—		57,178		—		57,178
Certificates of deposit		—		9,572		—		9,572
		358,866		758,304		—		1,117,170
Funds held for customers:
Restricted cash equivalents		28,517		36,297		—		64,814
Corporate bonds		—		746,654		—		746,654
Certificates of deposit		—		372,340		—		372,340
Municipal bonds		—		16,925		—		16,925
Asset-backed securities		—		43,645		—		43,645
U.S. treasury securities		6,104		—		—		6,104
		34,621		1,215,861		—		1,250,482
Beneficial interest derivative on    card receivables sold		—		—		2,835		2,835
Total assets measured at fair value	$	1,726,877	$	1,974,165	$	2,835	$	3,703,877

	June 30, 2021
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	365,550	$	—	$	—	$	365,550
Corporate bonds		—		15,499		—		15,499
		365,550		15,499		—		381,049
Short-term investments:
Corporate bonds		—		466,459		—		466,459
U.S. treasury securities		155,674		—		—		155,674
Asset-backed securities		—		26,406		—		26,406
Certificates of deposit		—		6,775		—		6,775
		155,674		499,640		—		655,314
Funds held for customers:
Restricted cash equivalents		6,887		79,435		—		86,322
Corporate bonds		—		516,350		—		516,350
Certificates of deposit		—		326,927		—		326,927
Municipal bonds		—		42,957		—		42,957
Asset-backed securities		—		25,085		—		25,085
U.S. treasury securities		3,009		—		—		3,009
		9,896		990,754		—		1,000,650
Beneficial interest derivative on    card receivables sold		—		—		2,252		2,252
Total assets measured at fair value	$	531,120	$	1,505,893	$	2,252	$	2,039,265