Investments

12 Months Ended

Jun. 30, 2023

Equity Method Investments and Joint Ventures [Abstract]

Equity investments by measurement category as of June 30, 2023 and June 30, 2022 were as follows (in thousands):


Measurement category	2023		2022
Fair value	$	12,423	$	9,167
Measurement alternative	68,748		39,290
Equity method	65,366		9,918
Total	$	146,537	$	58,375

The following table shows a reconciliation of the changes in our equity investments for the year ended June 30, 2023 (in thousands):


	Non-marketable securities		Marketable securities		Equity method investments		Total
Balance at the beginning of the period	$	39,290	$	9,167	$	9,918	$	58,375
Additions to investments (1)	21,738		4,991		62,733		89,462
Observable price adjustments on non-marketable equity securities	12,612		—		—		12,612
Impairment of investments	(4,892)		—		—		(4,892)
Realized gains on marketable and non-marketable equity securities	3,937		—		—		3,937
Proceeds from exits of investments	(3,937)		—		—		(3,937)
Unrealized losses on marketable equity securities	—		(1,735)		—		(1,735)
Loss attributable to equity method investments	—		—		(7,265)		(7,265)
Dividends received	—		—		(2,873)		(2,873)
Foreign currency translation adjustments	—		—		2,853		2,853
Carrying value at the end of the period	$	68,748	$	12,423	$	65,366	$	146,537

(1)Includes additions from purchases and an equity method investment acquired and measured at fair value via our acquisition of MEDIFOX DAN. Refer to Note 17 herein.

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 (2)	11,775		(3,202)		1,250		9,823
Observable price adjustments on non-marketable equity securities	5,367		—		—		5,367
Impairment of investments	(3,209)		—		—		(3,209)
Realized gains on marketable and non-marketable equity securities	2,355		1,626		—		3,981
Unrealized losses on marketable equity securities	—		(18,341)		—		(18,341)
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

(2)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.

Net unrealized gains and losses recognized in the years ended June 30, 2023, 2022 and 2021 for equity investments in non-marketable and marketable securities still held as of those respective dates were a gain of $6.0 million, a loss of $16.2 million, and a gain of $14.5 million, respectively.