Investments	6 Months Ended
Dec. 31, 2021
Investments [Abstract]
Investments	(5) Investments We have equity investments in privately and publicly held companies that are unconsolidated entities. The following discusses our investments in marketable equity securities, non-marketable equity securities, and investments accounted for under the equity method. Our marketable equity securities are publicly traded stocks measured at fair value and classified within Level 1 in the fair value hierarchy because we use quoted prices for identical assets in active markets. Marketable equity securities are recorded in prepaid expenses and other current assets on the condensed consolidated balance sheets. Non-marketable equity securities consist of investments in privately held companies without readily determinable fair values and are recorded in prepaid taxes and other non-current assets on the condensed consolidated balance sheets. Non-marketable equity securities are reported at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. We assess non-marketable equity securities at least quarterly for impairment and consider qualitative and quantitative factors including the investee's financial metrics, product and commercial outlook and cash usage. All gains and losses on marketable and non-marketable equity securities, realized and unrealized, are recognized in gain (loss) on equity investments as a component of other income (loss), net on the condensed consolidated statements of operations. 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 as a component of other income (loss), net on the condensed consolidated statements of operations. Equity investments by measurement category were as follows (in thousands): Measurement category December 31,‎2021 June 30,‎2021Fair value $ 19,566 $ 29,084 Measurement alternative 35,180 23,002 Equity method 13,854 17,154 Total $ 68,600 $ 69,240 The following tables show a reconciliation of the changes in our equity investments (in thousands): Six Months Ended December 31, 2021 Non-marketable securities Marketable securities Equity method investments TotalBalance at the beginning of the period $ 23,002 $ 29,084 $ 17,154 $ 69,240 Net additions (reductions) to investments (1) 4,665 (3,213) - 1,452 Observable price adjustments on non-marketable equity securities 5,367 - - 5,367 Unrealized losses on marketable equity securities - (7,942) - (7,942)Realized gains on marketable and non-marketable equity securities 2,355 1,637 - 3,992 Impairment of investments (209) - - (209)Loss attributable to equity method investments - - (3,300) (3,300)Carrying value at the end of the period $ 35,180 $ 19,566 $ 13,854 $ 68,600 (1)Net additions (reductions) to investments includes additions from purchases, reductions due to exits of securities, or reclassifications due to our acquisition of an investee in which we held a prior equity interest. Six Months Ended December 31, 2020 Non-marketable securities Marketable securities Equity method investments TotalBalance at the beginning of the period $ 30,033 $ - $ 14,109 $ 44,142 Additions to investments 1,946 - 12,500 14,446 Unrealized gains on marketable equity securities - 4,776 - 4,776 Reclassifications (2) (10,569) 10,569 - -Loss attributable to equity method investments - - (4,928) (4,928)Carrying value at the end of the period $ 21,410 $ 15,345 $ 21,681 $ 58,436 (2)During the six months ended December 31, 2020, one of our investments, which was previously accounted for under the measurement alternative, completed its initial public offering which resulted in a change of accounting methodology to fair value. Net unrealized losses recognized for equity investments in non-marketable and marketable securities held as of December 31, 2021 for the three and six months ended December 31, 2021 were $6.9 million and $2.8 million, respectively. Net unrealized gains and losses recognized for equity investments in non-marketable and marketable securities held as of December 31, 2020 were a loss of $3.7 million for three months ended December 31, 2020 and a gain of $4.8 million for six months ended December 31, 2020.

Investments

6 Months Ended

Dec. 31, 2021

(5) Investments We have equity investments in privately and publicly held companies that are unconsolidated entities. The following discusses our investments in marketable equity securities, non-marketable equity securities, and investments accounted for under the equity method. Our marketable equity securities are publicly traded stocks measured at fair value and classified within Level 1 in the fair value hierarchy because we use quoted prices for identical assets in active markets. Marketable equity securities are recorded in prepaid expenses and other current assets on the condensed consolidated balance sheets. Non-marketable equity securities consist of investments in privately held companies without readily determinable fair values and are recorded in prepaid taxes and other non-current assets on the condensed consolidated balance sheets. Non-marketable equity securities are reported at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. We assess non-marketable equity securities at least quarterly for impairment and consider qualitative and quantitative factors including the investee's financial metrics, product and commercial outlook and cash usage. All gains and losses on marketable and non-marketable equity securities, realized and unrealized, are recognized in gain (loss) on equity investments as a component of other income (loss), net on the condensed consolidated statements of operations. 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 as a component of other income (loss), net on the condensed consolidated statements of operations. Equity investments by measurement category were as follows (in thousands): Measurement category December 31,‎2021 June 30,‎2021Fair value $ 19,566 $ 29,084 Measurement alternative 35,180 23,002 Equity method 13,854 17,154 Total $ 68,600 $ 69,240 The following tables show a reconciliation of the changes in our equity investments (in thousands): Six Months Ended December 31, 2021 Non-marketable securities Marketable securities Equity method investments TotalBalance at the beginning of the period $ 23,002 $ 29,084 $ 17,154 $ 69,240 Net additions (reductions) to investments (1) 4,665 (3,213) - 1,452 Observable price adjustments on non-marketable equity securities 5,367 - - 5,367 Unrealized losses on marketable equity securities - (7,942) - (7,942)Realized gains on marketable and non-marketable equity securities 2,355 1,637 - 3,992 Impairment of investments (209) - - (209)Loss attributable to equity method investments - - (3,300) (3,300)Carrying value at the end of the period $ 35,180 $ 19,566 $ 13,854 $ 68,600 (1)Net additions (reductions) to investments includes additions from purchases, reductions due to exits of securities, or reclassifications due to our acquisition of an investee in which we held a prior equity interest. Six Months Ended December 31, 2020 Non-marketable securities Marketable securities Equity method investments TotalBalance at the beginning of the period $ 30,033 $ - $ 14,109 $ 44,142 Additions to investments 1,946 - 12,500 14,446 Unrealized gains on marketable equity securities - 4,776 - 4,776 Reclassifications (2) (10,569) 10,569 - -Loss attributable to equity method investments - - (4,928) (4,928)Carrying value at the end of the period $ 21,410 $ 15,345 $ 21,681 $ 58,436 (2)During the six months ended December 31, 2020, one of our investments, which was previously accounted for under the measurement alternative, completed its initial public offering which resulted in a change of accounting methodology to fair value. Net unrealized losses recognized for equity investments in non-marketable and marketable securities held as of December 31, 2021 for the three and six months ended December 31, 2021 were $6.9 million and $2.8 million, respectively. Net unrealized gains and losses recognized for equity investments in non-marketable and marketable securities held as of December 31, 2020 were a loss of $3.7 million for three months ended December 31, 2020 and a gain of $4.8 million for six months ended December 31, 2020.