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Debt (Text Block) | 12 Months Ended
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Jun. 30, 2016
Debt Disclosure [Abstract] |
Debt and Capital Leases Disclosures [Text Block] | DEBT The Company’s outstanding long and short term debt is as follows:
| June 30, |  | June 30,
| 2016 |  | 2015
LONG TERM DEBT |  |  |
Revolving credit facility | $ | — |  |  | $ | 50,000 |
Capital leases | — |  |  | 816 |
| — |  |  | 50,816 |
Less current maturities | — |  |  | 714 |
Debt, net of current maturities | $ | — |  |  | $ | 50,102 |
SHORT TERM DEBT |  |  |
Capital leases | $ | 200 |  |  | $ | 1,881 |
Current maturities of long-term debt | — |  |  | 714 |
Notes payable and current maturities of long term debt | $ | 200 |  |  | $ | 2,595 |
The following table summarizes the annual principal payments required as of June 30, 2016:
Years ended June 30, |
2017 | $ | 200 |
| $ | 200 |
Capital leases The Company has entered into various capital lease obligations for the use of certain computer equipment. The Company currently has short term capital lease obligations totaling $200 at June 30, 2016. Included in property and equipment are assets under capital leases totaling $2,329, which have accumulated depreciation totaling $898. Revolving credit facility The revolving credit facility provides for borrowings of up to $300,000, which may be increased by the Company at any time until maturity to $600,000. The credit facility bears interest at a variable rate equal to (a) a rate based on LIBOR or (b) an alternate base rate (the highest of (i) the Prime Rate for such day, (ii) the sum of the Federal Funds Effective Rate for such day plus 0.50% and (iii) the Eurocurrency Rate for a one month Interest Period on such day for dollars plus 1.0%), plus an applicable percentage in each case determined by the Company's leverage ratio. The credit facility is guaranteed by certain subsidiaries of the Company. The credit facility is subject to various financial covenants that require the Company to maintain certain financial ratios as defined in the agreement. As of June 30, 2016, the Company was in compliance with all such covenants. The revolving loan terminates February 20, 2020 and at June 30, 2016 there was no outstanding balance. Other lines of credit The Company renewed an unsecured bank credit line on March 3, 2014 which provides for funding of up to $5,000 and bears interest at the prime rate less 1%. The credit line was renewed through April 30, 2017. At June 30, 2016, no amount was outstanding. Interest The Company paid interest of $1,320, $1,111, and $620 during the years ended June 30, 2016, 2015, and 2014, respectively.

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- Definition The entire disclosure for debt and capital lease obligations can be reported. Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Also includes descriptions and amounts of capital leasing arrangements that consist of direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease. + References No definition available. + Details
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- References No definition available. + Details
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