Fair Value Disclosure (Tables)

3 Months Ended

Sep. 30, 2013

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, 2013 and June 30, 2013 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, 2013	Level 1		Level 2		Level 3		Asset at Fair Value
Money market funds	$	310	$	—	$	—	$	310
Auction rate securities	—		—		2,637		2,637
Total	$	310	$	—	$	2,637	$	2,947

June 30, 2013	Level 1		Level 2		Level 3		Asset at Fair Value
Money market funds	$	310	$	—	$	—	$	310
Auction rate securities	—		—		2,637		2,637
Total	$	310	$	—	$	2,637	$	2,947

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, 2013 and 2012 (in thousands):



	Three Months Ended September 30,
	2013		2012
Balance as of beginning of period	$	2,637	$	2,923
Total realized gains or (losses) included in net income	—		—
Total unrealized gains or (losses) included in other comprehensive income	—		—
Sales and settlements at par	—		—
Transfers in and/or out of Level 3	—		—
Balance as of end of period	$	2,637	$	2,923

Schedule of Long-term Investments Reconciliation

The following is a summary of the Company’s long-term investments as of September 30, 2013 and June 30, 2013 (in thousands):



	September 30, 2013
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value
Auction rate securities	$	2,750	$	—	$	(113	)	$	2,637

	June 30, 2013
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value
Auction rate securities	$	2,750	$	—	$	(113	)	$	2,637

- 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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