Receivables - Indemnity Holdback Related to the Asset Sale

3 Months Ended

Sep. 30, 2015

Working Capital And Indemnity Holdback Related To Asset Sale Receivable [Abstract]

Receivables - Indemnity Holdback Related to the Asset Sale

Receivables – Indemnity Holdback Related to the Asset Sale

In August 2014, the Company completed the Asset Sale. The net purchase price was $59.3 million, which included a working capital adjustment of $1.7 million. As of September 30, 2015, the Company received cash of $53.2 million and recorded a receivable of $6.1 million for the indemnity holdback. As of the date of this quarterly report on Form 10-Q, no claims have been asserted against the indemnity holdback. The indemnity holdback amount, minus any amounts previously released in respect of indemnity claims or held back with respect to pending claims, will be released within three days after the 18^th month anniversary of the closing of the Asset Sale pursuant to the terms of an escrow agreement.