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 $3.5 million and $3.8 million at September 30, 2020 and June 30, 2020, respectively, and are included in Other Assets in the unaudited condensed consolidated balance sheet. The Company evaluates the credit quality of an obligor at contract inception and monitors credit quality over the term of the underlying transactions. The Company performs a credit analysis for all new customers and reviews payment history, current order backlog, financial performance of the customers and other variables that augment or mitigate the inherent credit risk of a particular transaction. Such variables include the underlying value and liquidity of the collateral, the essential use of the equipment, the contract term and the inclusion of credit enhancements, such as guarantees, letters of credit or security deposits. The Company classifies accounts as high risk when it considers the financing receivable to be impaired or when management believes there is a significant near-term risk of non-payment. The Company performed an assessment of the allowance for credit losses and impairments related to its financing receivables as of September 30, 2020 and June 30, 2020. Based upon such assessment, the Company recorded an allowance for credit losses related to such financing receivables of $4.4 million at each of the periods ended September 30, 2020 and June 30, 2020, respectively.

A summary of the Company’s financing receivables is presented as follows (in thousands):

	September 30, 2020			June 30, 2020
Gross	$	13,042		$	13,019
Residual value		—			—
Unearned income		(1,805	)		(1,774	)
Allowance for credit loss		(4,380	)		(4,369	)
Total, net	$	6,857		$	6,876
Reported as:
Current	$	3,337		$	3,084
Non-current		3,520			3,792
Total, net	$	6,857		$	6,876

	September 30, 2020		June 30, 2020
Raw materials	$	57,168	$	48,037
Work-in-process		17,722		17,798
Finished goods		66,127		68,539
Inventories, net	$	141,017	$	134,374

	September 30, 2020			June 30, 2020
Furniture and fixtures	$	1,869		$	1,961
Computer and office equipment		10,486			10,896
Software		11,493			11,606
Leasehold improvements		26,082			26,206
Machinery and equipment		48,524			48,830
Construction in progress		800			623
		99,254			100,122
Less: Accumulated depreciation		(84,714	)		(84,773	)
Property and equipment, net	$	14,540		$	15,349

Depreciation expense related to property and equipment for the three months ended September 30, 2020 and 2019 was $1.6 million and $1.8 million, respectively.

The changes in accumulated other comprehensive income (loss) are excluded from earnings and reported as a component of stockholders’ equity. The foreign currency translation adjustment results from those subsidiaries not using the U.S. 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 to the U.S. Dollar at the current exchange rates at the end of each period. Revenues and expenses are translated at average exchange rates in effect during the period.

The components of accumulated other comprehensive income (loss) in the equity section of the Company’s condensed consolidated balance sheet are as follows (in thousands):

	September 30, 2020			June 30, 2020
Cumulative foreign currency translation adjustment	$	2,240		$	752
Defined benefit pension obligation		(1,231	)		(1,236	)
Accumulated other comprehensive income (loss)	$	1,009		$	(484	)