Fair Value of Financial Instruments (Tables)

12 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

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 June 30, 2020 and 2019, respectively, which 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)	$	150.1	$	—	$	—	$	150.1
Other current assets:
Securities	0.5		—		—		0.5
Other non-current assets:
Securities	102.0		—		—		102.0
Total assets as of June 30, 2020	$	252.7	$	—	$	—	$	252.7
Liabilities:
Contingent consideration obligations	$	—	$	—	$	33.1	$	33.1
Total liabilities as of June 30, 2020	$	—	$	—	$	33.1	$	33.1

	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash and cash equivalents:
Money market funds (1)	$	68.1	$	—	$	—	$	68.1
Other current assets:
Securities	0.4		—		—		0.4
Other non-current assets:
Securities	81.8		—		—		81.8
Total assets as of June 30, 2019	$	150.3	$	—	$	—	$	150.3
Liabilities:
Contingent consideration obligations	$	—	$	—	$	28.4	$	28.4
Total liabilities as of June 30, 2019	$	—	$	—	$	28.4	$	28.4

(1)Money market funds include money market deposit account balances of $150.1 million and $30.1 million as of June 30, 2020 and 2019, respectively.

Schedule of Changes in Level 3 Financial Liabilities

The following table sets forth an analysis of changes during fiscal years 2020 and 2019 in Level 3 financial liabilities of the Company:

	June 30,
	2020		2019
	(in millions)
Beginning balance	$	28.4	$	18.6
Additional contingent consideration incurred	7.0		7.9
Net increase in contingent consideration liability	1.0		3.6
Foreign currency impact on contingent consideration liability	(0.7)		(0.6)
Payments	(2.6)		(1.0)
Ending balance	$	33.1	$	28.4