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Fair Value of Financial Instruments (Tables)

12 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Summary of Fair Value and Carrying Value of Convertible Notes

The fair value and carrying value of the convertible notes were as follows at June 30, 2019 ($000):

	Fair Value				Carrying Value
Convertible notes	$	365,700			$	301,141

Summary by Level of Fair Value of Financial Instruments Measured on Recurring Basis

The following tables provide a summary by level of the fair value of financial instruments that are measured on a recurring basis as of June 30, 2019 and 2018 ($000):

		Fair Value Measurements at June 30, 2019 Using:
						Quoted Prices in				Significant
						Active Markets				Other				Significant
						for Identical				Observable				Unobservable
						Assets				Inputs				Inputs
		June 30, 2019				(Level 1)				(Level 2)				(Level 3)
Liabilities:
Foreign currency forward contracts		$	139			$	-			$	139			$	-
Contingent earnout arrangements		$	4,397			$	-			$	-			$	4,397
Net put option		$	2,024			$	-			$	-			$	2,024

		Fair Value Measurements at June 30, 2018 Using:
						Quoted Prices in				Significant
						Active Markets				Other				Significant
						for Identical				Observable				Unobservable
						Assets				Inputs				Inputs
		June 30, 2018				(Level 1)				(Level 2)				(Level 3)
Assets:
Foreign currency forward contracts		$	121			$	-			$	121			$	-
Liabilities:
Contingent earnout arrangements		$	5,405			$	-			$	-			$	5,405
Net put option		$	2,024			$	-			$	-			$	2,024

Reconciliation of Beginning and Ending Fair Value Measurements of Level Three Contingent Earnout Arrangements Related to Company's Acquisitions

The following table presents a reconciliation of the beginning and ending fair value measurements of the Company’s level 3 contingent earnout arrangements related to the Company’s acquisitions and the net put option relating to the purchase of the equity investment in November 2017 ($000):

	Significant
	Unobservable Inputs
	(Level 3)
Balance at July 1, 2018	$	7,429
Activity:
Payments		(4,524	)
Changes in fair value recorded in other expense (income), net		(881	)
Other earnout arrangements		4,397
Balance at June 30, 2019	$	6,421

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

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