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Fixed Income Securities
12 Months Ended
Jun. 30, 2012
Fixed Income Securities [Abstract]  
Fixed Income Securities

Note 3 — Fixed Income Securities

 

We hold available-for-sale fixed income securities comprised of U.S. treasury securities and obligations of the U.S. government, government agencies and authorities; corporate bonds; and obligations of states, municipalities and political subdivisions (See Note 6 for the fixed income securities by type of security). The fixed income securities are classified either as short-term investments or non-current assets (within other assets on the consolidated balance sheet) depending on the date of their maturity. Additional information on fixed income security balances is provided in the following table as of June 30, 2012 and 2011:

 

                   
  June 30, 2012 June 30, 2011
  Amortized Unrealized Estimated Amortized Unrealized Estimated
  Cost Gains Fair Value Cost Gains Fair Value
Short-term investments: due in                 
 one year or less$ 40,213 $ 208 $ 40,421 $ 43,227 $ 430 $ 43,657
Non-current assets: due in                  
 one through five years  11,924   5   11,929   49,625   769   50,394

Proceeds from sales and maturities of investments for available-for-sale fixed income securities during the fiscal year ended June 30, 2012 were $68.5 million, resulting in a gain of $0.1 million. Proceeds from sales and maturities of investments for available-for-sale fixed income securities during the fiscal years ended June 30, 2011 and 2010 were $72.7 million and $16.2 million, respectively, resulting in a gain of $0.3 million and an insignificant loss, respectively. Proceeds from the sales and maturities of held-to-maturity fixed income securities during the fiscal year ended June 30, 2011 were $14.3 million, resulting in insignificant gains. There were no sales of held-to-maturity fixed income securities in the fiscal years ended June 30, 2012 and 2010. There were no investments that have been in a continuous loss position for more than three months, and there have been no other-than-temporary impairments recognized.