FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Dec. 31, 2014

Fair Value Measurements on Recurring Basis

The following presents fair value measurements, as of December 31, 2014, and June 30, 2014, for the major categories of U.S. Global’s investments measured at fair value on a recurring basis:



	Fair Value Measurement using
	December 31, 2014
(dollars in thousands)	Quoted Prices (Level 1)		Significant Other Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Trading securities
Offshore fund	$	—	$	560	$	—	$	560
Mutual funds - Fixed income	16,069		—		—		16,069
Mutual funds - Domestic equity	386		—		—		386
Other	—		—		—		—
Total trading securities	16,455		560		—		17,015

Available-for-sale securities
Common stock - Domestic	1,198		—		—		1,198
Common stock - International	873		1		—		874
Corporate debt	—		382		238		620
Mutual funds - Fixed income	1,222		—		—		1,222
Mutual funds - Domestic equity	466		—		—		466
Other	167		—		—		167
Total available-for-sale securities	3,926		383		238		4,547
Total Investments Measured at Fair Value on a Recurring Basis	$	20,381	$	943	$	238	$	21,562



	Fair Value Measurement using
	June 30, 2014
(dollars in thousands)	Quoted Prices (Level 1)		Significant Other Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Trading securities
Offshore fund	$	—	$	998	$	—	$	998
Mutual funds - Fixed income	16,333		—		—		16,333
Mutual funds - Domestic equity	459		—		—		459
Other	27		—		—		27
Total trading securities	16,819		998		—		17,817

Available-for-sale securities
Common stock - Domestic	1,118		—		—		1,118
Common stock - International	1,406		3		—		1,409
Corporate debt	292		1,090		250		1,632
Mutual funds - Fixed income	1,247		—		—		1,247
Mutual funds - Domestic equity	550		—		—		550
Other	240		—		—		240
Total available-for-sale securities	4,853		1,093		250		6,196
Total Investments Measured at Fair Value on a Recurring Basis	$	21,672	$	2,091	$	250	$	24,013

Summary of Investments Measured at Fair Value on Recurring Basis

The following table is a reconciliation of investments for which unobservable inputs (Level 3) were used in determining fair value during the six months ended December 31, 2014, and December 31, 2013:



	Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis
	December 31, 2014			December 31, 2013
(dollars in thousands)	Corporate Debt			Common Stock - International			Corporate Debt		Other
Beginning Balance	$	250		$	95		$	—	$	163
Return of capital/principal payments received	(12		)	—			—		—
Total gains or losses (realized/unrealized)
Included in earnings (investment income)	—			—			—		—
Included in other comprehensive income	—			(1		)	—		(6		)
Purchases	—			—			250		97
Sales	—			—			—		—
Transfers into Level 3	—			—			—		—
Transfers out of Level 3	—			—			—		—
Ending Balance	$	238		$	94		$	250	$	254

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details