Fair Value of Financial Instruments (Tables)

6 Months Ended

Dec. 31, 2018

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, 2018 and June 30, 2018, respectively, that are recorded at fair value, 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)	$	69.8	$	—	$	—	$	69.8
Other current assets:
Securities	0.2		—		—		0.2
Other non-current assets:
Securities	71.3		—		—		71.3
Total assets as of December 31, 2018	$	141.3	$	—	$	—	$	141.3
Liabilities:
Contingent consideration obligations	—		—		17.4		17.4
Total liabilities as of December 31, 2018	$	—	$	—	$	17.4	$	17.4



	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash and cash equivalents:
Money market funds (1)	$	86.8	$	—	$	—	$	86.8
Other current assets:
Securities	0.1		—		—		0.1
Other non-current assets:
Securities	66.9		—		—		66.9
Total assets as of June 30, 2018	$	153.8	$	—	$	—	$	153.8
Liabilities:
Contingent consideration obligations	—		—		18.6		18.6
Total liabilities as of June 30, 2018	$	—	$	—	$	18.6	$	18.6

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(1)	Money market funds include money market deposit account balances of $20.0 million and $28.4 million as of December 31, 2018 and June 30, 2018, respectively.

Schedule of Changes in Level 3 Financial Liabilities

The following table sets forth an analysis of changes during the three and six months ended December 31, 2018 and 2017, in Level 3 financial liabilities of the Company:



	Three Months Ended December 31,					Six Months Ended December 31,
	2018			2017		2018			2017
						(in millions)
Beginning balance	$	18.1		$	8.4	$	18.6		$	6.7
Additional contingent consideration incurred	—			2.7		—			4.5
Increase (decrease) in contingent consideration liability	—			—		—			—
Foreign currency impact on contingent consideration liability	(0.2		)	0.2		(0.6		)	0.2
Payments	(0.4		)	—		(0.6		)	—
Ending balance	$	17.4		$	11.3	$	17.4		$	11.3