Marketable Securities

9 Months Ended

Mar. 31, 2014

Marketable Securities

Marketable Securities

4. Marketable Securities

The fair value of the Company’s marketable securities was based on estimates of fair value as of March 31, 2014 and June 30, 2013. The following is a summary of marketable securities, all of which were classified as available-for-sale as of March 31, 2014 and June 30, 2013:

March 31, 2014 ($ in millions)	Cost		Unrealized Losses			Estimated Fair Value
Non-current
Municipal auction rate securities	$	5.9	$	(0.4	)	$	5.5

June 30, 2013 ($ in millions)	Cost		Unrealized Losses			Estimated Fair Value
Non-current
Municipal auction rate securities	$	5.9	$	(0.5	)	$	5.4

For the nine months ended March 31, 2014 and 2013, proceeds from sales and maturities of marketable securities were $0.0 million.