3. Balance Sheet Components

Cash and Cash Equivalents

The following is a summary of cash and cash equivalents (in thousands):

	June 30, 2017		June 30, 2016
Cash	$	70,515	$	95,906
Money market funds		1,569		13,362
Commercial paper		—		8,938
Municipal government securities		—		1,565

Total cash and cash equivalents	$	72,084	$	119,771

Accounts receivable, net

Accounts receivable, net consisted of the following (in thousands):

	June 30, 2017			June 30, 2016
Accounts receivable	$	70,394		$	54,974
Unbilled fees and services		2,815			2,662

		73,209			57,636
Less: Allowance for doubtful accounts		(420	)		(826	)

Accounts receivable, net	$	72,789		$	56,810

The Company received payment or had credits of $0.1 million, added $0.2 million and wrote off $0.5 million from the allowance for doubtful accounts in fiscal 2017. The Company received payment or had credits of $0.2 million, added $0.3 million and wrote off $0.01 million from the allowance for doubtful accounts in fiscal 2016.

Financing receivables

A financing receivable is a contractual right to receive money, on demand or on fixed or determinable dates, that is recognized as an asset in the Company's balance sheet. The Company's financing receivables, consisting of its accounts receivable with contractual maturities of more than one year and sales-type leases, totaled $7.4 million and $7.6 million at June 30, 2017 and 2016, respectively, and are included in Other Assets in the consolidated balance sheets. Of the $7.4 million in financing receivables at June 30, 2017, $2.8 million related to sales-type leases with customers while the remaining $4.6 million related to contractual maturities of more than one year. Of the $7.6 million in financing receivables at June 30, 2016, $3.5 million related to sales-type leases with customers while the remaining $4.1 million related to contractual maturities of more than one year. Due to the homogenous nature of the leasing transactions, the Company manages them on an aggregate basis when assessing and monitoring credit risk. The Company evaluates the credit quality of an obligor at lease inception and monitors credit quality over the term of the underlying transactions. The Company performs a credit analysis for all new customers and reviews payment history, current order backlog, financial performance of the customers and other variables that augment or mitigate the inherent credit risk of a particular transaction. Such variables include the underlying value and liquidity of the collateral, the essential use of the equipment, the term of the lease and the inclusion of credit enhancements, such as guarantees, letters of credit or security deposits. Accounts rated as low risk typically have the equivalent of a Moody's rating of Baa3 or higher, while accounts rated as moderate risk generally have the equivalent of a Ba1 or lower. The Company classifies accounts as high risk when it considers the financing receivable to be impaired or when management believes there is a significant near-term risk of non-payment. As of June 30, 2017, the sales-type lease portion of the financing receivables was rated at a moderate risk. The Company performed an assessment of the allowance for credit losses related to its financing receivables as of June 30, 2017. Based upon such assessment, the Company recorded an allowance for credit losses related to such financing receivables as of June 30, 2017 and did not record any allowance for credit losses as of June 30, 2016.

A summary of the Company's financing receivables is presented as follows (in thousands):

June 30, 2017	Lease Receivables			Financed Service Contracts and Other		Total
Gross	$	4,030		$	6,268	$	10,298
Residual value		—			—		—
Unearned income		(433	)		—		(433	)
Allowance for credit loss		(39	)		—		(39	)

Total, net	$	3,558		$	6,268	$	9,826


Reported as:
Current	$	720		$	1,677	$	2,397
Non-current		2,838			4,591		7,429

Total, net	$	3,558		$	6,268	$	9,826

June 30, 2016	Lease Receivables			Financed Service Contracts and Other		Total
Gross	$	4,998		$	5,840	$	10,838
Residual value		—			—		—
Unearned income		(623	)		—		(623	)
Allowance for credit loss		—			—		—

Total, net	$	4,375		$	5,840	$	10,215


Reported as:
Current	$	840		$	1,778	$	2,618
Non-current		3,535			4,062		7,597

Total, net	$	4,375		$	5,840	$	10,215

Actual cash collections may differ from the contracted maturities due to early customer buyouts, refinancing, or defaults. Future minimum lease payments to be received as of June 30, 2017 are presented as follows (in thousands):

Year Ending June 30,	Amount
2018	$	930
2019		930
2020		930
2021		930
2022		310

Total	$	4,030

Inventories

Inventories consisted of the following (in thousands):

	June 30, 2017		June 30, 2016
Raw materials	$	38,803	$	49,618
Work-in-process		15,471		20,175
Finished goods		50,780		46,194

Inventories	$	105,054	$	115,987

The Company reclassified $0.9 million between raw materials and finished good as of June 30, 2016 to conform to current year's presentation of inventories.

Property and Equipment, net

Property and equipment consisted of the following (in thousands):

	June 30, 2017			June 30, 2016
Furniture and fixtures	$	4,364		$	4,527
Computer and office equipment		11,802			11,485
Software		11,457			11,104
Leasehold improvements		23,164			21,632
Machinery and equipment		48,742			47,171
Construction in progress		3,533			4,412

		103,062			100,331
Less: Accumulated depreciation		(80,000	)		(72,453	)

Property and equipment, net	$	23,062		$	27,878

Depreciation and amortization expense related to property and equipment for the years ended June 30, 2017, 2016 and 2015 was $10.3 million, $10.3 million and $11.6 million, respectively.

Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in accumulated other comprehensive income (loss) by component (in thousands):

	Foreign Currency Items			Unrealized Gains and (Losses) on Available-for-Sale Securities			Change in Defined Pension Benefit Obligation			Total
Balance at June 30, 2015	$	1,168		$	(77	)	$	(1,517	)	$	(426	)
Other comprehensive income (loss) before reclassifications		(47	)		63			(549	)		(533	)
Amounts reclassified from accumulated other comprehensive loss		—			(1	)		—			(1	)

Net current period other comprehensive income (loss)		(47	)		62			(549	)		(534	)

Balance at June 30, 2016		1,121			(15	)		(2,066	)		(960	)

Other comprehensive income (loss)		33			(74	)		949			908

Balance at June 30, 2017	$	1,154		$	(89	)	$	(1,117	)	$	(52	)