(7) Investments

The aggregate carrying amount of our investments at June 30, 2019 and June 30, 2018, which are included within our other non-current assets on our consolidated balance sheets, was $52.1 million and $41.2 million, respectively.

Investments whereby we do not have significant influence or control over the investee are accounted for initially at cost. These investments are not exchange traded and therefore not supported with observable market prices. We have determined that these investments do not have readily determinable fair values and are therefore revalued only when there are observable price changes in orderly transactions for identifiable or similar investments of the same issuer. We also estimate the fair value of our equity investments to assess whether impairment losses shall be recorded using Level 3 inputs. 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 years ended June 30, 2019 and June 30, 2018, we recognized $15.0 million and $11.6 million, respectively, of impairment losses related to our equity investments, which was recorded in other, net. The carrying value of these investments was $30.4 million and $41.2 million, at June 30, 2019 and June 30, 2018, respectively.

Equity investments whereby we have significant influence but not control over the investee, and are not the primary beneficiary of the investee’s activities, are accounted for under the equity method. Under this method, we record our share of gains or losses attributable to equity method investments, which were $15.8 million during the year ended June 30, 2019 and were recorded in loss attributable to equity method investments. The carrying value of these investments was $21.7 million and $0.0 million at June 30, 2019 and June 30, 2018, respectively.

We have determined that the fair value of our investments exceed their carrying values. The following table shows a reconciliation of the changes in our investments during the years ended June 30, 2019 and June 30, 2018 (in thousands):


	2019		2018
Balance at the beginning of the period	$	41,226	$	38,324
Investments		46,717		14,495
Impairment of investments		(15,007)		(11,593)
Loss attributable to equity method investments		(15,833)		-
Acquisition of controlling interest in previously held investment (note 21)		(5,000)		-
Balance at the end of the period	$	52,103	$	41,226