Summary of Significant Accounting Policies (Tables)

9 Months Ended

Mar. 31, 2017

Summary of Significant Accounting Policies

Schedule of useful lives of property and equipment

	Useful Life
Student and state testing computers	3 -  5 years
Computer hardware	3 years
Computer software	3 - 5 years
Web site development	3 years
Office equipment	5 years
Furniture and fixtures	7 years
Leasehold improvements	3 - 12 years

Schedule of intangible assets

	March 31, 2017						June 30, 2016
($in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Trade names	$	17.6	$	(7.4)	$	10.2	$	17.6	$	(6.9)	$	10.7
Customer and distributor relationships		20.1		(11.7)		8.4		20.1		(10.6)		9.5
Developed technology		2.9		(1.6)		1.3		2.9		(1.2)		1.7
Other		1.4		(0.4)		1.0		1.4		(0.2)		1.2
Total	$	42.0	$	(21.1)	$	20.9	$	42.0	$	(18.9)	$	23.1

Schedule of assets and liabilities measured at fair value on a recurring basis

The following table summarizes certain fair value information at June 30, 2016 for assets and liabilities measured at fair value on a recurring basis:

	Fair Value Measurements Using:
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Input		Inputs
Description	Fair Value		(Level 1)		(Level 2)		(Level 3)
		(In thousands)
Redeemable Noncontrolling Interest in Middlebury Interactive Learning	$	6,801	$	—	$	—	$	6,801
Total	$	6,801	$	—	$	—	$	6,801

The following tables summarize the activity during the three and nine months ended March 31, 2017 for assets and liabilities measured at fair value on a recurring basis; there was no activity during the three and nine months ended March 31, 2016:

	Three Months Ended March 31,
			Purchases,
	FairValue		Issuances,		Realized		Fair Value
Description	December 31, 2016		and Settlements		Gains/(Losses)		March 31, 2017
		(In thousands)
Redeemable Noncontrolling Interest in Middlebury Interactive Learning	$	—	$	—	$	—	$	—
Total	$	—	$	—	$	—	$	—

		Nine Months Ended March 31,
			Purchases,
	Fair Value		Issuances,		Realized		Fair Value
Description	June 30, 2016		and Settlements		Gains/(Losses)		March 31, 2017
	(In thousands)
Redeemable Noncontrolling Interest in Middlebury Interactive Learning	$	6,801	$	(9,134)	$	2,333	$	—
Total	$	6,801	$	(9,134)	$	2,333	$	—

Schedule of calculation of basic and diluted net income (loss) per share

	Three Months Ended March 31,				Nine Months Ended March 31,
	2017		2016		2017		2016
		(In thousands except share and per sharedata)
Basic net income per share computation:
Net income attributable to common stockholders	$	9,115	$	14,273	$	6,934	$	10,018
Weighted average common shares  — basic		38,376,984		37,692,826		38,145,671		37,562,106
Basic net income per share	$	0.24	$	0.38	$	0.18	$	0.27
Diluted net income per share computation:
Net income attributable to common stockholders	$	9,115	$	14,273	$	6,934	$	10,018
Share computation:
Weighted average common shares  — basic		38,376,984		37,692,826		38,145,671		37,562,106
Effect of dilutive stock options and restricted stock awards		951,143		1,307,045		810,410		997,098
Weighted average common shares  — diluted		39,328,127		38,999,871		38,956,081		38,559,204
Diluted net income per share	$	0.23	$	0.37	$	0.18	$	0.26