Fair Value Measurements

6 Months Ended

Dec. 31, 2011

Fair Value Measurements [Abstract]

Fair Value Measurements

Note 11. Fair Value Measurements

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity's pricing based upon their own market assumptions. The fair value hierarchy consists of the following three levels:

• Level I — Quoted prices for identical instruments in active markets.

• Level II — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

• Level III — Instruments whose significant value drivers are unobservable.

The following table presents for each of these hierarchy levels, the Company's assets that are measured at fair value on a recurring basis:

	Level I		Level II		Level III		Total
December 31, 2011
Assets:
Money market accounts	$	122,268	$	—	$	—	$	122,268
Time deposits		90,298		—		—		90,298
Available-for-sale securities (in Other assets)		32,515		—		—		32,515
Total assets measured at fair value	$	245,081	$	—	$	—	$	245,081
June 30, 2011
Assets:
Money market accounts	$	223,750	$	—	$	—	$	223,750
Time deposits		75,147		—		—		75,147
Available-for-sale securities (in Other assets)		44,880		—		—		44,880
Total assets measured at fair value	$	343,777	$	—	$	—	$	343,777

Money market accounts and time deposits

Money market accounts and time deposits are classified within Level 1 of the fair value hierarchy as they are valued using observable inputs that reflect quoted prices for identical assets in active markets. The carrying amount of the Company's money market accounts and time deposits approximates fair value due to their short-term maturities.

Available-for-sale securities (in Other assets)

The available-for-sale securities category includes available-for-sale marketable equity securities, whose fair value is determined using quoted market prices. Such items are classified in Level 1 (See Note 6).