Cost-Method Investments

6 Months Ended

Dec. 31, 2017

(6) Cost-Method Investments

The aggregate carrying amount of our cost-method investments at December 31, 2017 and June 30, 2017, was $39.8 million and $38.3 million, respectively, and is included in the non-current balance of other assets on the condensed consolidated balance sheets.

We periodically evaluate the carrying value of our cost-method investments, when events and circumstances indicate that the carrying amount of an asset may not be recovered. We estimate the fair value of our cost-method investments to assess whether impairment losses shall be recorded using Level 3 inputs. These investments include our holdings in privately held service and research companies that are not exchange traded and therefore not supported with observable market prices. However, these investments are valued by reference to their net asset values that can be market supported and unobservable inputs including future cash flows. During the six months ended December 31, 2017 and 2016, we recognized $2.3 million and $0.2 million, respectively, of impairment losses related to our cost-method investments. We have determined, after the impairment charge, that the fair value of our remaining investments exceed their carrying values.

The following table shows a reconciliation of the changes in our cost-method investments during the six months ended December 31, 2017 and December 31, 2016 (in thousands):


	Six Months Ended December 31,
	2017		2016
Balance at the beginning of the period	$	38,324	$	33,815
Investments		3,725		3,867
Impairment of cost-method investments		(2,254)		(206)
Balance at the end of the period	$	39,795	$	37,476