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Financing Arrangements
6 Months Ended
Dec. 31, 2011
Financing Arrangements [Abstract]  
Debt Disclosure [Text Block]
Financing Arrangements
Adept has a revolving line of credit with Silicon Valley Bank, or SVB. Adept originally entered into the Loan and Security Agreement and related agreements for the revolving line in May 2009. On March 25, 2011, Adept entered into an Amendment No. 3 to Loan and Security Agreement with SVB to amend the Loan and Security Agreement, dated May 1, 2009, as previously amended. Adept also entered into a new Loan and Security Agreement (EX-IM Loan Facility) with SVB and related agreements (the “EX-IM Loan Documents”), pursuant to which a portion of the revolving line (the “EX-IM Line”) is now guaranteed by the Export-Import Bank of the United States, and Adept’s potential borrowing base is expanded by enabling advances against foreign accounts receivable and export-related inventory. Please refer to the audited consolidated financial statements and Note 6 thereto for the fiscal year ended June 30, 2011 included in Adept's Annual Report on Form 10-K as filed with the SEC on September 6, 2011, and Note 17 in this Form 10-Q, for additional disclosures on the revolving line of credit.
During the second quarter of fiscal 2012, Adept became subject to the lockbox arrangements under the Loan and Security Agreement. Under the lock-box arrangement, all qualifying daily domestic cash receipts are applied on either the next or second business day to repay outstanding obligations under the Loan and Security Agreement with any excess transferred to Adept's deposit account with SVB. Paragraph 470-10-45-5A of Accounting Standards Codification Topic 470, Debt (“ASC 470”) indicates that when such arrangements exist, all outstanding borrowings under a revolving credit facility such as the Loan Security Agreement are to be classified as a current liability. As such, Adept has reclassified the outstanding line of credit balance from long-term liabilities to a current liability, however the maturity date for borrowings against domestic accounts receivable remains March 25, 2013.