Fair Value Measurement (Tables)

6 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

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

The 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, 2020
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	1,174,496	$	—	$	—	$	1,174,496
Corporate bonds		—		5,599		—		5,599
		1,174,496		5,599		—		1,180,095
Short-term investments:
U.S. treasury securities		40,109		—		—		40,109
Corporate bonds		—		108,336		—		108,336
Certificates of deposit		—		1,685		—		1,685
Asset-backed securities		—		15,458		—		15,458
		40,109		125,479		—		165,588
Funds held for customers:
Restricted cash equivalents		1,577		51,623		—		53,200
Corporate bonds		—		540,247		—		540,247
Certificates of deposit		—		174,635		—		174,635
U.S. treasury securities		18,995		—		—		18,995
Municipal bonds		—		14,318		—		14,318
		20,572		780,823		—		801,395
Total assets measured at fair value	$	1,235,177	$	911,901	$	—	$	2,147,078

	June 30, 2020
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	20,075	$	—	$	—	$	20,075
		20,075		—		—		20,075
Short-term investments:
U.S. treasury securities		28,368		—		—		28,368
Corporate bonds		—		71,131		—		71,131
Asset-backed securities		—		24,475		—		24,475
		28,368		95,606		—		123,974
Funds held for customers:
Restricted cash equivalents		357,350		76,359		—		433,709
Corporate bonds		—		493,879		—		493,879
Certificates of deposit		—		85,953		—		85,953
U.S. treasury securities		48,952		—		—		48,952
		406,302		656,191		—		1,062,493
Total assets measured at fair value	$	454,745	$	751,797	$	—	$	1,206,542