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 $2.0 million and $1.6 million at September 30, 2015 and June 30, 2015, 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 September 30, 2015 and June 30, 2015, respectively, as revenue is recognized on a cash basis for these receivables.

Inventories

Inventories consisted of the following (in thousands):

	September 30,		June 30,
	2015		2015
Raw materials	$	50,336	$	46,356
Work-in-process	17,802		15,445
Finished goods	45,660		44,350

Inventories	$	113,798	$	106,151

Property and equipment, net

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

	September 30,			June 30,
	2015			2015
Furniture and fixtures	$	4,677		$	4,674
Computer and office equipment	12,085			11,808
Software	11,088			10,992
Leasehold improvements	20,898			19,428
Machinery and equipment	48,750			47,031
Construction in progress	4,097			8,273

	101,595			102,206
Less: Accumulated depreciation	(72,113		)	(70,377		)

Property and equipment, net	$	29,482		$	31,829

Depreciation expense related to property and equipment for the three months ended September 30, 2015 and 2014 was $2.6 million and $3.0 million, respectively.