2. Balance Sheet Components

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, totaled $1.1 million and $2.8 million at March 31, 2015 and June 30, 2014, respectively and are included in Other Assets in the consolidated balance sheets. There was no balance in the allowance for doubtful accounts related to such financing receivables as of March 31, 2015 and June 30, 2014, respectively, as revenue is recognized on a cash basis for these receivables.

Inventories

Inventories consisted of the following (in thousands):

	March 31,		June 30,
	2015		2014
Raw materials	$	46,739	$	37,003
Work-in-process	22,654		17,692
Finished goods	40,312		33,057
Inventories	$	109,705	$	87,752

Property and equipment, net

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

	March 31,			June 30,
	2015			2014
Furniture and fixtures	$	4,756		$	5,351
Computer and office equipment	11,408			10,540
Software	10,915			10,736
Leasehold improvements	19,390			18,991
Machinery and equipment	45,524			45,730
Construction in progress	5,890			5,877
	97,883			97,225
Less: Accumulated depreciation	(68,027		)	(62,834		)
Property and equipment, net	$	29,856		$	34,391

Depreciation expense related to property and equipment for the three and nine months ended March 31, 2015 was $2.9 million and $8.9 million, respectively. Depreciation expense related to property and equipment for the three and nine months ended March 31, 2014 was $3.0 million and $9.1 million, respectively.