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Investments | 9 Months Ended
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Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Investments | 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 | March 31, 2022 |  | June 30, 2021
Fair value | $ | 17,842 |  |  | $ | 29,084 |
Measurement alternative | 38,180 |  |  | 23,002 |
Equity method | 12,477 |  |  | 17,154 |
Total | $ | 68,499 |  |  | $ | 69,240 |
The following tables show a reconciliation of the changes in our equity investments (in thousands):
| Nine Months Ended March 31, 2022
| 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) | 7,665 |  |  | (3,202) |  |  | 1,250 |  |  | 5,713 |
Observable price adjustments on non-marketable equity securities | 5,367 |  |  | — |  |  | — |  |  | 5,367 |
Unrealized losses on marketable equity securities | — |  |  | (9,666) |  |  | — |  |  | (9,666) |
Realized gains on marketable and non-marketable equity securities | 2,355 |  |  | 1,626 |  |  | — |  |  | 3,981 |
Impairment of investments | (209) |  |  | — |  |  | — |  |  | (209) |
Loss attributable to equity method investments | — |  |  | — |  |  | (5,927) |  |  | (5,927) |
Carrying value at the end of the period | $ | 38,180 |  |  | $ | 17,842 |  |  | $ | 12,477 |  |  | $ | 68,499 |
(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.
| 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 |
Additions to investments | 2,538 |  |  | 5,000 |  |  | 12,500 |  |  | 20,038 |
Observable price adjustments on non-marketable equity securities | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
Unrealized gains on marketable equity securities | — |  |  | 8,442 |  |  | — |  |  | 8,442 |
Reclassifications (2) | (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 |
(2)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. Net unrealized losses recognized for equity investments in non-marketable and marketable securities held as of March 31, 2022 for the three and nine months ended March 31, 2022 were $1.7 million and $4.5 million, respectively. Net unrealized gains recognized for equity investments in non-marketable and marketable securities 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.

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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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