Fair Value of Financial Instruments (Tables)

3 Months Ended

Sep. 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 September 30, 2020 and June 30, 2020, respectively, that are recorded at fair value, segregated by level within the fair value hierarchy:

	September 30, 2020
	Level 1		Level 2		Level 3		Total
	(In millions)
Assets:
Cash and cash equivalents:
Money market funds (a)	$	120.0	$	—	$	—	$	120.0
Other current assets:
Securities	0.4		—		—		0.4
Other non-current assets:
Securities	108.5		—		—		108.5
Total assets as of September 30, 2020	$	229.0	$	—	$	—	$	229.0
Liabilities:
Contingent consideration obligations	—		—		23.7		23.7
Total liabilities as of September 30, 2020	$	—	$	—	$	23.7	$	23.7

	June 30, 2020
	Level 1		Level 2		Level 3		Total
	(In millions)
Assets:
Cash and cash equivalents:
Money market funds (a)	$	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

_________

(a)Money market funds include money market deposit account balances of $120.0 million and $150.1 million as of September 30, 2020 and June 30, 2020, respectively.

Schedule of Changes in Level 3 Financial Liabilities

The following table sets forth an analysis of changes during the three months ended September 30, 2020 and 2019, respectively, in Level 3 financial liabilities of the Company:

	Three Months Ended September 30,
	2020		2019
	(In millions)
Beginning balance	$	33.1	$	28.4
Foreign currency impact on contingent consideration liability	1.4		(0.4)
Payments	(10.7)		(1.5)
Ending balance	$	23.7	$	26.5