Investments

12 Months Ended

Jun. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Equity investments by measurement category as of June 30, 2022 and June 30, 2021 were as follows (in thousands):


Measurement category	2022		2021
Fair value	$	9,167	$	29,084
Measurement alternative	39,290		23,002
Equity method	9,918		17,154
Total	$	58,375	$	69,240

The following table shows a reconciliation of the changes in our equity investments for the year ended June 30, 2022 (in thousands):


	Non-marketable securities		Marketable securities		Equity method investments		Total
Balance at the beginning of the period	$	23,002	$	29,084	$	17,154	$	69,240
Net additions (reductions) to investments (1)	11,775		(3,202)		1,250		9,823
Observable price adjustments on non-marketable equity securities	5,367		—		—		5,367
Unrealized losses on marketable equity securities	—		(18,341)		—		(18,341)
Realized gains on marketable and non-marketable equity securities	2,355		1,626		—		3,981
Impairment of investments	(3,209)		—		—		(3,209)
Loss attributable to equity method investments	—		—		(8,486)		(8,486)
Carrying value at the end of the period	$	39,290	$	9,167	$	9,918	$	58,375

(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.

The following table shows a reconciliation of the changes in our equity investments for the year ended June 30, 2021(in thousands):


	Non-marketable securities		Marketable securities		Equity method investments		Total
Balance at the beginning of the period	$	30,033	$	—	$	14,109	$	44,142
Additions to investments	2,538		5,000		14,250		21,788
Observable price adjustments on non-marketable equity securities	1,000		—		—		1,000
Unrealized gains on marketable equity securities	—		13,515		—		13,515
Reclassifications (2)	(10,569)		10,569		—		—
Loss attributable to equity method investments	—		—		(11,205)		(11,205)
Carrying value at the end of the period	$	23,002	$	29,084	$	17,154	$	69,240

(2)During the year ended June 30, 2021, 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 gains and losses recognized in the years ended June 30, 2022, 2021 and 2020 for equity investments in non-marketable and marketable securities still held as of those respective dates were a loss of $16.2 million, a gain of $14.5 million, and a loss of $14.5 million, respectively.