Fair Value Measurements (Tables)

9 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Assets and Liabilities

The following table sets forth the fair value of the financial assets and liabilities that the Company re-measures on a regular basis:

	Level 1		Level 2		Level 3			Total
March 31, 2020
Money market funds (a)	$	17.3	$	—	$	—		$	17.3
Corporate bonds and notes		—		61.0		—			61.0
Municipal bonds		—		20.0		—			20.0
Federal agency issues		—		5.6		—			5.6
US government securities		—		16.7		—			16.7
Contingent consideration		—		—		(6.7	)		(6.7	)
Total	$	17.3	$	103.3	$	(6.7	)	$	113.9

(a) Money market funds are primarily comprised of exchange traded funds and accrued interest.

	Level 1		Level 2		Level 3			Total
June 30, 2019
Money market funds (a)	$	17.2	$	—	$	—		$	17.2
Corporate bonds and notes		2.5		64.4		—			66.9
Municipal bonds		—		15.4		—			15.4
Federal agency issues		—		9.0		—			9.0
US government securities		—		9.8		—			9.8
Contingent consideration		—		—		(13.8	)		(13.8	)
Total	$	19.7	$	98.6	$	(13.8	)	$	104.5

(a) Money market funds are primarily comprised of exchange traded funds and accrued interest.

Change in Fair Value of Contingent Consideration

The following table reconciles the change in the fair value of the contingent consideration during the periods presented:

	Carrying amount
Balance June 30, 2019	$	13.8
Payment of contingent consideration		(3.9	)
Change in fair value recognized in the income statement		(2.8	)
Translation adjustments recognized in other comprehensive income		(0.4	)
Ending balance March 31, 2020	$	6.7