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Investments | 9 Months Ended
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Mar. 31, 2021
Investments [Abstract] |
Investments | (5) Investments We have equity investments in privately held companies that are unconsolidated entities. The following discusses our investments in marketable equity securities, non-marketable equity securities, gains and losses on marketable and non-marketable equity securities, as well as our equity securities 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 estimate the fair value of our non-marketable equity investments using Level 3 inputs to assess whether impairment losses shall be recorded. All gains and losses on marketable and non-marketable equity securities, realized and unrealized, are recognized in other, 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, net on the condensed consolidated statements of operations. Equity investments by measurement category were as follows (in thousands):
Measurement category |  | March 31, ‎2021 |  | June 30, ‎2020
Fair value |  | $ | 24,011 |  | $ | -
Measurement alternative |  |  | 23,002 |  |  | 30,033
Equity method |  |  | 16,714 |  |  | 14,109
Total |  | $ | 63,727 |  | $ | 44,142
The following table shows a reconciliation of the changes in our equity investments (in thousands):
|  | Nine Months Ended ‎March 31, 2021
|  | Non-marketable securities |  | Marketable securities |  | Equity method investments |  | Total
Balance at the beginning of the period |  | $ | 30,033 |  | $ | - |  | $ | 14,109 |  | $ | 44,142
Investments |  |  | 2,538 |  |  | 5,000 |  |  | 12,500 |  |  | 20,038
Observable price adjustments on non-marketable equity securities |  |  | 1,000 |  |  | - |  |  | - |  |  | 1,000
Ongoing mark-to-market adjustments on marketable equity securities |  |  | - |  |  | 8,442 |  |  | - |  |  | 8,442
Reclassifications (1) |  |  | (10,569) |  |  | 10,569 |  |  | - |  |  | -
Loss attributable to equity method investments |  |  | - |  |  | - |  |  | (9,895) |  |  | (9,895)
Carrying value at the end of the period |  | $ | 23,002 |  | $ | 24,011 |  | $ | 16,714 |  | $ | 63,727
(1)During the nine months ended March 31, 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.
|  | Nine Months Ended ‎March 31, 2020
|  | Non-marketable securities |  | Marketable securities |  | Equity method investments |  | Total
Balance at the beginning of the period |  | $ | 30,436 |  | $ | - |  | $ | 21,667 |  | $ | 52,103
Investments |  |  | 14,116 |  |  | - |  |  | 17,500 |  |  | 31,616
Impairment of investments |  |  | (14,519) |  |  | - |  |  | - |  |  | (14,519)
Loss attributable to equity method investments |  |  | - |  |  | - |  |  | (19,082) |  |  | (19,082)
Carrying value at the end of the period |  | $ | 30,033 |  | $ | - |  | $ | 20,085 |  | $ | 50,118
Net unrealized gains recognized for equity investments held as of March 31, 2021 for the three and nine months ended March 31, 2021 were $4.7 million and $9.4 million, respectively, which related to publicly traded marketable equity securities and privately held non-marketable securities. Net unrealized losses recognized for equity investments held as of March 31, 2020 for the three and nine months ended March 31, 2020 were $9.1 million and $14.5 million, respectively, which related to impairments of privately held non-marketable securities.

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 321 -URI http://asc.fasb.org/topic&trid=75115024 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -URI http://asc.fasb.org/topic&trid=2197064 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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