Financial Instruments

6 Months Ended

Dec. 31, 2012

Financial Instruments

Financial Instruments

4. Financial Instruments

The following tables summarize the fair value of financial instruments measured on a recurring basis as of December 31, 2012 and June 30, 2012 (in thousands):

	Fair value measurement using
Type of instrument and line item in condensed consolidated balance sheets	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total balance
Assets at December 31, 2012
Money market funds - included in cash and cash equivalents	$	20,086	$	—	$	—	$	20,086
Certificate of deposits - included in cash and cash equivalents	$	9,139	$	—	$	—	$	9,139
Assets at June 30, 2012
Money market funds - included in cash and cash equivalents	$	40,068	$	—	$	—	$	40,068
Certificate of deposits - included in cash and cash equivalents	$	6,742	$	—	$	—	$	6,742

The following tables summarize the fair value of financial instruments that are not measured on a recurring basis as of December 31, 2012 and June 30, 2012 (in thousands):

	Fair value measurement using
Type of instrument and line item in condensed consolidated balance sheets	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total balance
At December 31, 2012
Long-term debt	$	—	$	100,400	$	—	$	100,400
At June 30, 2012
Long-term debt	$	—	$	101,400	$	—	$	101,400

The long-term debt is measured on a non-recurring basis using Level 2 inputs based upon observable inputs of the Company’s underlying stock price and the time value of the conversion option, since an observable quoted price of the 3.75% Convertible Notes is not readily available.