Investments

9 Months Ended

Mar. 31, 2019

Investments Debt And Equity Securities [Abstract]

Investments

Note 6. Investments

The Company considers all highly liquid investments held at major banks, certificates of deposit and other securities with original maturities of three months or less to be cash equivalents.

The Company classifies all of its investments as available-for-sale at the time of purchase because management intends that these investments are available for current operations and includes these investments on its balance sheet as short-term investments. Investments with original maturities longer than three months include commercial paper, U.S. agency securities, non-U.S. government securities and investment-grade corporate debt securities. Investments classified as available-for-sale are recorded at fair market value with the related unrealized gains and losses included in accumulated other comprehensive income, a component of stockholders’ equity. Realized gains and losses are recorded based on specific identification of each security’s cost basis.

The Company sold all of its investments in fiscal 2018 and as such, no investments were outstanding as of March 31, 2019 and June 30, 2018.