Accumulated Other Comprehensive Loss

6 Months Ended

Dec. 31, 2016

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

9. Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss consist of net loss, unrealized gains and losses on available-for-sale investments, changes in foreign currency exchange rate translation and net changes related to defined benefit pension plan. These components are excluded from earnings and reported as a component of stockholders’ equity. The foreign currency translation adjustment results from those subsidiaries not using the United States dollar as their functional currency since the majority of their economic activities are primarily denominated in their applicable local currency. Accordingly, all assets and liabilities related to these operations are translated at the current exchange rates at the end of each period. The resulting cumulative translation adjustments are recorded directly to the accumulated other comprehensive loss account in stockholders’ equity. Revenues and expenses are translated at average exchange rates in effect during the period.

The components of accumulated other comprehensive loss in the equity section of the balance sheets are as follows (in thousands):

	December 31,			June 30,
	2016			2016
Net unrealized loss on short-term investments	$	(85	)	$	(15	)
Cumulative foreign currency translation adjustment	(85		)	1,121
Defined benefit pension obligation	(2,066		)	(2,066		)
Accumulated other comprehensive loss	$	(2,236	)	$	(960	)