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INVESTMENTS (Tables)
 9 Months Ended
Mar. 31, 2014
Investments, Debt and Equity Securities [Abstract]  
Schedule of Trading and Available-for-Sale Securities
The following details the components of the Company’s investments as of March 31, 2014, and June 30, 2013.
 
 
March 31, 2014 (in thousands)
 
 
 
 
Gross Unrealized
 
 
 
 
Cost
 
Gains
 
(Losses)
 
Fair Value
Trading securities 1
 
 
 
 
 
 
 
 
Offshore fund
 
$
1,184

 
$
—

 
$
(310
)
 
$
874

Mutual funds - Fixed income
 
17,236

 
69

 
(5
)
 
17,300

Mutual funds - Domestic equity
 
535

 
—

 
(80
)
 
455

Other
 
107

 
—

 
(90
)
 
17

Total trading securities
 
$
19,062

 
$
69

 
$
(485
)
 
$
18,646

 
 
 
 
 
 
 
 
 
Available-for-sale securities 2
 
 
 
 
 
 
 
 
Common stock - Domestic
 
$
378

 
$
414

 
$
(4
)
 
$
788

Common stock - International
 
661

 
699

 
(5
)
 
1,355

Corporate debt
 
1,706

 
35

 
(17
)
 
1,724

Mutual funds - Fixed income
 
1,475

 
9

 
(3
)
 
1,481

Mutual funds - Domestic equity
 
660

 
—

 
(2
)
 
658

Other
 
232

 
6

 
(3
)
 
235

Total available-for-sale securities 3
 
$
5,112

 
$
1,163

 
$
(34
)
 
$
6,241

 
 
 
June 30, 2013 (in thousands)
 
 
 
 
Gross Unrealized
 
 
 
 
Cost
 
Gains
 
(Losses)
 
Fair Value
Trading securities 1
 
 
 
 
 
 
 
 
Offshore fund
 
$
1,184

 
$
—

 
$
(398
)
 
$
786

Mutual funds - Emerging markets
 
516

 
—

 
(156
)
 
360

Mutual funds - Fixed income
 
3,116

 
75

 
—

 
3,191

Mutual funds - Domestic equity
 
535

 
—

 
(136
)
 
399

Other
 
107

 
—

 
(85
)
 
22

Total trading securities
 
$
5,458

 
$
75

 
$
(775
)
 
$
4,758

 
 
 
 
 
 
 
 
 
Available-for-sale securities 2
 
 
 
 
 
 
 
 
Common stock - Domestic
 
$
266

 
$
313

 
$
—

 
$
579

Common stock - International
 
604

 
216

 
(5
)
 
815

Offshore fund
 
5,000

 
—

 
(288
)
 
4,712

Mutual funds - Fixed income
 
1,000

 
4

 
—

 
1,004

Mutual funds - Domestic equity
 
1,010

 
756

 
—

 
1,766

Other
 
185

 
—

 
(8
)
 
177

Total available-for-sale securities 3
 
$
8,065

 
$
1,289

 
$
(301
)
 
$
9,053

 
1 
Unrealized and realized gains and losses on trading securities are included in earnings in the statement of operations.
2 
Unrealized gains and losses on available-for-sale securities are excluded from earnings and recorded in other comprehensive income as a separate component of shareholders’ equity until realized.
3 
Net unrealized gains on available-for-sale securities gross and net of tax as of March 31, 2014, are $1,129 and $745, respectively, and as of June 30, 2013, are $988 and $652, respectively.
Summary of Gross Unrealized Losses and Fair Values of Available-for-Sale Investment Securities
The following tables show the gross unrealized losses and fair values of available-for-sale investment securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
 
 
March 31, 2014 (in thousands)
 
 
Less Than 12 Months
 
12 Months or Greater
 
Total
 
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
Available-for-sale securities
 
 
 
 
 
 
 
 
 
 
 
 
Common stock - Domestic
 
$
200

 
$
(4
)
 
$
—

 
$
—

 
$
200

 
$
(4
)
Common stock - International
 
107

 
(5
)
 
—

 
—

 
107

 
(5
)
Corporate debt
 
27

 
(17
)
 
—

 
—

 
27

 
(17
)
Mutual funds - Fixed income
 
371

 
(3
)
 
—

 
—

 
371

 
(3
)
Mutual funds - Domestic equity
 
116

 
(2
)
 
—

 
—

 
116

 
(2
)
Other
 
59

 
(3
)
 
—

 
—

 
59

 
(3
)
Total available-for-sale securities
 
$
880


$
(34
)
 
$
—

 
$
—


$
880


$
(34
)
 
 
 
June 30, 2013 (in thousands)
 
 
Less Than 12 Months
 
12 Months or Greater
 
Total
 
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
Available-for-sale securities
 
 
 
 
 
 
 
 
 
 
 
 
Common stock - International
 
$
95

 
$
(5
)
 
$
—

 
$
—

 
$
95

 
$
(5
)
Offshore fund
 
—

 
—

 
4,712

 
(288
)
 
4,712

 
(288
)
Other
 
166

 
(8
)
 
—

 
—

 
166

 
(8
)
Total available-for-sale securities
 
$
261

 
$
(13
)
 
$
4,712

 
$
(288
)
 
$
4,973

 
$
(301
)
Investment Income (Loss) Reflected in Earnings
The following summarizes investment income reflected in earnings for the periods discussed:
Investment Income (Loss)
 
Nine Months Ended March 31,
 
Three Months Ended March 31,
 
 
2014
 
2013
 
2014
 
2013
Realized gains on sales of available-for-sale securities
 
$
999,342

 
$
234,709

 
$
306,669

 
$
17,509

Realized losses on sales of trading securities
 
(168,364
)
 
(244,627
)
 
(146
)
 
—

Unrealized gains (losses) on trading securities
 
283,731

 
280,472

 
5,539

 
(68,267
)
Realized foreign currency gains
 
6,466

 
1,658

 
1,939

 
4,409

Other-than-temporary declines in available-for sale securities
 
(2,972
)
 
(41,837
)
 
(2,972
)
 
—

Dividend and interest income
 
364,213

 
115,182

 
62,512

 
30,268

Total Investment Income (Loss)
 
$
1,482,416

 
$
345,557

 
$
373,541

 
$
(16,081
)