Fair Value of Financial Instruments (Tables)

6 Months Ended

Dec. 31, 2016

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables set forth the Company’s financial assets and liabilities at December 31, 2016 and June 30, 2016, respectively, that are measured at fair value on a recurring basis during the period, segregated by level within the fair value hierarchy:



	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash and cash equivalents:
Money market funds (1)	$	89.2	$	—	$	—	$	89.2
Other current assets:
Available-for-sale securities	0.1		—		—		0.1
Other non-current assets:
Available-for-sale securities	44.5		—		1.1		45.6
Total assets as of December 31, 2016	$	133.8	$	—	$	1.1	$	134.9
Liabilities
Contingent consideration obligations:	—		—		5.9		5.9
Total liabilities as of December 31, 2016	$	—	$	—	$	5.9	$	5.9



	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash and cash equivalents:
Money market funds (1)	$	121.0	$	—	$	—	$	121.0
Other current assets:
Available-for-sale securities	0.1		—		—		0.1
Other non-current assets:
Available-for-sale securities	34.4		—		1.1		35.5
Total assets as of June 30, 2016	$	155.5	$	—	$	1.1	$	156.6
Liabilities
Contingent consideration obligations:	—		—		5.5		5.5
Total liabilities as of June 30, 2016	$	—	$	—	$	5.5	$	5.5

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(1)	Money market funds include money market deposit account balances of $41.4 million and $91.0 million as of December 31, 2016 and June 30, 2016, respectively.

Schedule of Changes in Level 3 Financial Assets

The following table sets forth an analysis of changes during the six months ended December 31, 2016 and 2015, in Level 3 financial assets of the Company:



	December 31, 2016		December 31, 2015
	(in millions)
Beginning balance	$	1.1	$	1.1
Net realized/unrealized gains (losses)	—		—
Purchases	—		—
Transfers in (out) of Level 3	—		—
Ending balance	$	1.1	$	1.1

Schedule of Changes in Level 3 Financial Liabilities

The following table sets forth an analysis of changes during the six months ended December 31, 2016 and 2015, in Level 3 financial liabilities of the Company:



	December 31, 2016		December 31, 2015
	(in millions)
Beginning balance	$	5.5	$	15.7
Additional contingent consideration incurred	—		0.7
Increase (decrease) in contingent consideration liability	0.3		(1.0		)
Payments	—		(1.0		)
Ending balance	$	5.9	$	14.4