Fair Value Disclosure (Tables)

3 Months Ended

Sep. 30, 2012

Schedule of Fair Value, Cash Equivalents and Long-term Investments Measured on Recurring Basis

The following table sets forth the Company’s cash equivalents and long-term investments as of September 30, 2012 and June 30, 2012 which are measured at fair value on a recurring basis by level within the fair value hierarchy. These are classified based on the lowest level of input that is significant to the fair value measurement, (in thousands):



September 30, 2012	Level 1		Level 2		Level 3		Asset at Fair Value
Money market funds	$	12	$	—	$	—	$	12
Auction rate securities	—		—		2,923		2,923
Total	$	12	$	—	$	2,923	$	2,935

June 30, 2012	Level 1		Level 2		Level 3		Asset at Fair Value
Money market funds	$	411	$	—	$	—	$	411
Auction rate securities	—		—		2,923		2,923
Total	$	411	$	—	$	2,923	$	3,334

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation of the Company’s financial assets measured at fair value on a recurring basis, consisting of long-term auction rate securities, using significant unobservable inputs (Level 3) for the three months ended September 30, 2012 and 2011 (in thousands):



	Three Months Ended September 30,
	2012		2011
Balance as of beginning of period	$	2,923	$	5,188
Total realized gains or (losses) included in net income	—		—
Total unrealized gains or (losses) included in other comprehensive income	—		156
Sales and settlements at par	—		(1,675		)
Transfers in and/or out of Level 3	—		—
Balance as of end of period	$	2,923	$	3,669

Schedule of Long-term Investments Reconciliation

The following is a summary of the Company’s long-term investments as of September 30, 2012 and June 30, 2012 (in thousands):



	September 30, 2012
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value
Auction rate securities	$	3,050	$	—	$	(127	)	$	2,923

	June 30, 2012
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value
Auction rate securities	$	3,050	$	—	$	(127	)	$	2,923

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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