Fair Value Disclosure (Tables)

6 Months Ended

Dec. 31, 2015

Schedule of cash equivalents and long-term investments measured at fair value on a recurring basis

The following table sets forth the Company’s cash equivalents and long-term investments as of December 31, 2015 and June 30, 2015 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):



December 31, 2015	Level 1		Level 2		Level 3		Asset at Fair Value
Money market funds	$	312	$	—	$	—	$	312
Auction rate securities	—		—		2,633		2,633
Total	$	312	$	—	$	2,633	$	2,945

June 30, 2015	Level 1		Level 2		Level 3		Asset at Fair Value
Money market funds	$	310	$	—	$	—	$	310
Auction rate securities	—		—		2,633		2,633
Total	$	310	$	—	$	2,633	$	2,943

Reconciliation of financial assets measured at fair value on a recurring basis

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 and six months ended December 31, 2015 and 2014 (in thousands):



	Three Months Ended December 31,				Six Months Ended December 31,
	2015		2014		2015		2014
Balance as of beginning of period	$	2,633	$	2,647	$	2,633	$	2,647
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	$	2,633	$	2,647	$	2,633	$	2,647

Summary of long-term investments

The following is a summary of the Company’s long-term investments as of December 31, 2015 and June 30, 2015 (in thousands):



	December 31, 2015
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value
Auction rate securities	$	2,750	$	—	$	(117	)	$	2,633

	June 30, 2015
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value
Auction rate securities	$	2,750	$	—	$	(117	)	$	2,633