Summary of Significant Accounting Policy (Tables)

9 Months Ended

Mar. 31, 2018

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, 2018						June 30, 2017
($in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Trade names	$	17.6	$	(8.3)	$	9.3	$	17.6	$	(7.6)	$	10.0
Customer and distributor relationships		20.5		(13.0)		7.5		20.1		(12.0)		8.1
Developed technology		3.2		(2.1)		1.1		2.9		(1.7)		1.2
Other		1.4		(0.6)		0.8		1.4		(0.5)		0.9
Total	$	42.7	$	(24.0)	$	18.7	$	42.0	$	(21.8)	$	20.2

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

The following table summarizes certain fair value information at March 31, 2018 for assets or liabilities measured at fair value on a nonrecurring 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)
Lease exit liability	$	3,120	$	—	$	—	$	3,120

The following table summarizes certain fair value information at June 30, 2017 for assets and liabilities measured at fair value on a nonrecurring 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)
Held for sale asset	$	1,200	$	—	$	—	$	1,200
Lease exit liability		4,841		—		—		4,841

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

The following table summarizes certain fair value information at March 31, 2018 for assets or 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)
Contingent consideration associated with acquisitions	$	1,342	$	—	$	—	$	1,342

The following table summarizes certain fair value information at June 30, 2017 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)
Contingent consideration associated with acquisitions	$	2,806	$	—	$	—	$	2,806

Schedule of activity related to fair value measurements categorized as Level 3 of the valuation hierarchy, valued on a recurring basis

The following tables summarize the activity during the three and nine months ended March 31, 2018 and 2017 for assets and liabilities measured at fair value on a recurring basis:

	Three Months Ended March 31, 2018
			Purchases,
	FairValue		Issuances,		Unrealized		Fair Value
Description	December 31, 2017		and Settlements		Gains/(Losses)		March 31, 2018
		(In thousands)
Contingent consideration associated with acquisitions	$	1,340	$	—	$	2	$	1,342
Total	$	1,340	$	—	$	2	$	1,342

	Three Months Ended March 31, 2017
			Purchases,
	Fair Value		Issuances,		Unrealized		Fair Value
Description	December 31, 2016		and Settlements		Gains (Losses)		March 31, 2017
	(In thousands)
Contingent consideration associated with acquisitions	$	2,963	$	—	$	8	$	2,971
Total	$	2,963	$	—	$	8	$	2,971

		Nine Months Ended March 31, 2018
			Purchases,
	Fair Value		Issuances,		Unrealized		Fair Value
Description	June 30, 2017		and Settlements		Gains (Losses)		March 31, 2018
	(In thousands)
Contingent consideration associated with acquisitions	$	2,806	$	(1,319)	$	(145)	$	1,342
Total	$	2,806	$	(1,319)	$	(145)	$	1,342

		Nine Months Ended March 31, 2017
			Purchases,
	Fair Value		Issuances,		Unrealized		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	$	—
Contingent consideration associated with acquisitions		2,947		—		24		2,971
Total	$	9,748	$	(9,134)	$	2,357	$	2,971

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

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2018		2017		2018		2017
		(In thousands except share and per sharedata)
Basic net income per share computation:
Net income attributable to common stockholders	$	13,070	$	9,115	$	18,273	$	6,934
Weighted average common shares  — basic		39,644,074		38,376,984		39,366,497		38,145,671
Basic net income per share	$	0.33	$	0.24	$	0.46	$	0.18
Diluted net income per share computation:
Net income attributable to common stockholders	$	13,070	$	9,115	$	18,273	$	6,934
Share computation:
Weighted average common shares  — basic		39,644,074		38,376,984		39,366,497		38,145,671
Effect of dilutive stock options and restricted stock awards		1,122,129		951,143		1,404,940		810,410
Weighted average common shares  — diluted		40,766,203		39,328,127		40,771,437		38,956,081
Diluted net income per share	$	0.32	$	0.23	$	0.45	$	0.18