XML 29 R10.htm IDEA: XBRL DOCUMENT v3.19.2
Cash, cash equivalents and short-term investments
 12 Months Ended
Jun. 30, 2019
Cash, Cash Equivalents, and Short-term Investments [Abstract]  
Cash, cash equivalents and short-term investments
Cash, cash equivalents and short-term investments
Cash, cash equivalents and short-term investments consisted of the following as of June 30, 2019 (in thousands):
 
 
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Estimated
Fair Value
Cash
 
$
25,987

 
$
—

 
$
—

 
$
25,987

Cash equivalents:
 
 
 
 
 
 
 
 
Money market mutual funds
 
790

 
—

 
—

 
790

Commercial paper
 
498

 
—

 
—

 
498

Total cash equivalents
 
1,288

 
—

 
—

 
1,288

Total cash and cash equivalents
 
27,275

 
—

 
—

 
27,275

Short-term investments:
 
 
 
 
 
 
 
 
U.S. treasury securities
 
3,570

 
6

 
(4
)
 
3,572

U.S. agency securities
 
3,002

 
9

 
(2
)
 
3,009

Asset-backed securities
 
12,319

 
104

 
(10
)
 
12,413

Municipal securities
 
4,124

 
16

 
—

 
4,140

Commercial paper
 
1,986

 
—

 
—

 
1,986

Corporate bonds
 
45,492

 
269

 
(27
)
 
45,734

Total debt securities
 
70,493

 
404

 
(43
)
 
70,854

Marketable equity securities(1)
 
250

 
1,099

 
—

 
1,349

Total short-term investments
 
70,743

 
1,503

 
(43
)
 
72,203

Cash, cash equivalents and short-term investments
 
$
98,018

 
$
1,503

 
$
(43
)
 
$
99,478

(1) Consist of Chess Depository Interests held in an Australian Stock Exchange traded company. Investment was sold subsequent to June 30, 2019.

Cash, cash equivalents and short-term investments consisted of the following as of June 30, 2018 (in thousands):
 
 
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Estimated
Fair Value
Cash
 
$
10,202

 
$
—

 
$
—

 
$
10,202

Cash equivalents:
 
 
 
 
 
 
 
 
Money market mutual funds
 
3,751

 
—

 
—

 
3,751

Commercial paper
 
2,666

 
—

 
—

 
2,666

U.S. treasury securities
 
498

 
—

 
—

 
498

Total cash equivalents
 
6,915

 
—

 
—

 
6,915

Total cash and cash equivalents
 
17,117

 
—

 
—

 
17,117

Short-term investments:
 
 
 
 
 
 
 
 
U.S. treasury securities
 
4,737

 
—

 
(34
)
 
4,703

U.S. agency securities
 
2,424

 
—

 
(16
)
 
2,408

Asset-backed securities
 
8,040

 
1

 
(72
)
 
7,969

Municipal securities
 
2,220

 
—

 
(4
)
 
2,216

Commercial paper
 
1,249

 
—

 
—

 
1,249

Corporate bonds
 
49,717

 
2

 
(435
)
 
49,284

Total short-term investments
 
68,387

 
3

 
(561
)
 
67,829

Cash, cash equivalents and short-term investments
 
$
85,504

 
$
3

 
$
(561
)
 
$
84,946



The following table summarizes the fair value and gross unrealized losses related to available-for-sale securities, aggregated by investment category, that have been in an unrealized loss position for less than 12 months or a continuous unrealized loss position for 12 months or greater, as of June 30, 2019 and 2018 (in thousands):

 
 
June 30, 2019
 
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. treasury securities
 
$
—

 
$
—

 
$
2,992

 
$
(5
)
 
$
2,992

 
$
(5
)
U.S. agency securities
 
—

 
—

 
998

 
(1
)
 
998

 
(1
)
Asset-backed securities
 
—

 
—

 
3,537

 
(11
)
 
3,537

 
(11
)
Commercial paper
 
493

 
(1
)
 
—

 
—

 
493

 
(1
)
Corporate bonds
 
4,600

 
(3
)
 
14,615

 
(24
)
 
19,215

 
(27
)
Total
 
$
5,093

 
$
(4
)
 
$
22,142

 
$
(41
)
 
$
27,235

 
$
(45
)

 
 
June 30, 2018
 
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. treasury securities
 
$
4,703

 
$
(34
)
 
$
—

 
$
—

 
$
4,703

 
$
(34
)
U.S. agency securities
 
1,118

 
(6
)
 
1,290

 
(10
)
 
2,408

 
(16
)
Asset-backed securities
 
5,368

 
(69
)
 
1,562

 
(3
)
 
6,930

 
(72
)
Municipal securities
 
1,716

 
(4
)
 
—

 
—

 
1,716

 
(4
)
Commercial paper
 
1,249

 
—

 
—

 
—

 
1,249

 
—

Corporate bonds
 
34,982

 
(318
)
 
10,880

 
(117
)
 
45,862

 
(435
)
Total
 
$
49,136

 
$
(431
)
 
$
13,732

 
$
(130
)
 
$
62,868

 
$
(561
)


There were 11 securities and 111 securities in an unrealized loss position for less than 12 months at June 30, 2019 and 2018, respectively, and 51 securities and 25 securities in an unrealized loss position for 12 months or greater at June 30, 2019 and 2018, respectively.

The following table summarizes the cost and estimated fair value of fixed income securities classified as short-term investments based on stated maturities as of June 30, 2019 (in thousands):
 
 
 
Amortized
Cost
 
Estimated
Fair Value
Due within one year
 
$
31,526

 
$
31,512

Due between one and two years
 
23,608

 
23,774

Due between two and three years
 
15,359

 
15,568

Total
 
$
70,493

 
$
70,854



Declines in fair value judged to be other-than-temporary on securities available for sale are included as a component of other income, net. In order to determine whether a decline in value is other-than-temporary, we evaluate, among other factors: the duration and extent to which the fair value has been less than the carrying value and our intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair market value. As of June 30, 2019 and 2018, we did not consider any of our short-term investments to be other-than-temporarily impaired.