Fair Value Disclosure (Tables)

3 Months Ended

Sep. 30, 2016

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 September 30, 2016 and June 30, 2016 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, 2016	Level 1		Level 2		Level 3		Asset at Fair Value
Money market funds	$	312	$	—	$	—	$	312
Auction rate securities	—		—		2,643		2,643
Total	$	312	$	—	$	2,643	$	2,955

June 30, 2016	Level 1		Level 2		Level 3		Asset at Fair Value
Money market funds	$	315	$	—	$	—	$	315
Auction rate securities	—		—		2,643		2,643
Total	$	315	$	—	$	2,643	$	2,958

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 months ended September 30, 2016 and 2015 (in thousands):



	Three Months Ended September 30,
	2016		2015
Balance as of beginning of period	$	2,643	$	2,633
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	$	2,643	$	2,633

Summary of long-term investments

The following is a summary of the Company’s long-term investments as of September 30, 2016 and June 30, 2016 (in thousands):



	September 30, 2016
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value
Auction rate securities	$	2,750	$	—	$	(107	)	$	2,643

	June 30, 2016
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value
Auction rate securities	$	2,750	$	—	$	(107	)	$	2,643