Funds held for customers consisted of the following as of the dates presented (in thousands):

	December 31,			June 30,
	2020			2020
Restricted cash and other receivables	$	1,417,680		$	586,893
Restricted cash equivalents		53,200			433,709
Corporate bonds		540,247			493,879
Certificates of deposit		174,635			85,953
U.S. treasury securities		18,995			48,952
Municipal bonds		14,318			—
Total funds held for customers		2,219,075			1,649,386
Less - income earned by the Company included in other current assets		(1,395	)		(5,136	)
Total funds held for customers, net of income earned by the Company	$	2,217,680		$	1,644,250

Income earned by the Company that is included in other current assets represents interest income, accretion of discount (offset by amortization of premium), and net unrealized gains on customer funds that were invested in money market funds and short-term marketable debt securities. Earnings from these investments are contractually earned by the Company and are expected to be transferred into the Company’s corporate deposit account upon sale or settlement of the associated investment.

Below is a summary of the fair value of funds held for customers that were invested in short-term marketable debt securities as of the dates presented (in thousands):

	December 31, 2020
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Corporate bonds	$	540,062	$	220	$	(35	)	$	540,247
Certificates of deposit		174,599		38		(2	)		174,635
U.S. treasury securities		18,988		7		—			18,995
Municipal bonds		14,322		1		(5	)		14,318
Total	$	747,971	$	266	$	(42	)	$	748,195

	June 30, 2020
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Corporate bonds	$	491,950	$	1,936	$	(7	)	$	493,879
Certificates of deposit		85,841		115		(3	)		85,953
U.S. treasury securities		48,949		4		(1	)		48,952
Total	$	626,740	$	2,055	$	(11	)	$	628,784

The amortized cost and fair value amounts include accrued interest receivable of $1.8 million and $2.9 million as of December 31, 2020 and June 30, 2020, respectively.

As of December 31, 2020 and June 30, 2020, 100% of the funds held for customers that were invested in short-term marketable debt securities mature within one year as of each respective period.

The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of the dates presented (in thousands):

	December 31, 2020
	Fair value		Unrealized losses
Corporate bonds	$	146,789	$	(35	)
Certificates of deposit		29,756		(2	)
Municipal bonds		6,066		(5	)
Total	$	182,611	$	(42	)

	June 30, 2020
	Fair value		Unrealized losses
Corporate bonds	$	31,785	$	(7	)
Certificates of deposit		20,006		(3	)
U.S. treasury securities		14,990		(1	)
Total	$	66,781	$	(11	)

Investments with unrealized losses have been in a continuous unrealized loss position for less than 12 months. The Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity. Therefore, the Company does not consider those unrealized investment losses as other-than-temporary impairment of the investments. There have been no significant realized gains or losses on funds held for customers that were invested in short-term marketable debt securities during the three and six months ended December 31, 2020 and 2019.