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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Mar. 31, 2015
Summary of Significant Accounting Policies |
Schedule of useful lives of property and equipment |
|  | Useful Life |
Student computers and tablets |  | 3 years |
Computer hardware |  | 3 years |
Computer software |  | 3-5 years |
Web site development costs |  | 3 years |
Office equipment |  | 5 years |
Furniture and fixtures |  | 7 years |
Leasehold improvements |  | 3-12 years |
Schedule of goodwill activity |
Rollforward of Goodwill |  | Amount |
|  | ($ in millions) |
Balance as of June 30, 2014 |  | $ | 58.1 |
Acquisition of LearnBop, Inc. |  | 9.0 |
Adjustments due to foreign exchange translations |  | 0.1 |
Balance as of March 31, 2015 |  | $ | 67.2 |
Schedule of intangible assets |
|  | March 31, 2015 |  | June 30, 2014 |
($ in millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |
Trade names |  | $ | 17.5 |  | $ | (5.3 | ) | $ | 12.2 |  | $ | 17.5 |  | $ | (4.6 | ) | $ | 12.9 |
Customer and distributor relationships |  | 18.2 |  | (8.9 | ) | 9.3 |  | 18.2 |  | (7.7 | ) | 10.5 |
Developed technology |  | 1.2 |  | (1.2 | ) | — |  | 1.2 |  | (1.2 | ) | — |
Other |  | 0.5 |  | (0.2 | ) | 0.3 |  | 0.5 |  | (0.2 | ) | 0.3 |
|  | $ | 37.4 |  | $ | (15.6 | ) | $ | 21.8 |  | $ | 37.4 |  | $ | (13.7 | ) | $ | 23.7 |
Schedule of assets and liabilities measured at fair value on a recurring basis | The following table summarizes certain fair value information at March 31, 2015 for assets and liabilities measured at fair value on a recurring basis:
|  | Fair Value Measurements Using: |
|  |  |  | Quoted Prices |  |  |  |  |
|  |  |  | in Active |  | Significant |  |  |
|  |  |  | Markets for |  | Other |  | Significant |
|  |  |  | Identical |  | Observable |  | Unobservable |
|  |  |  | Assets |  | Input |  | Inputs |
Description |  | Fair Value |  | (Level 1) |  | (Level 2) |  | (Level 3) |
|  | (In thousands) |
Redeemable Noncontrolling Interest in Middlebury Joint Venture |  | $ | 16,801 |  | $ | — |  | $ | — |  | $ | 16,801 |
Redeemable Noncontrolling Interest in LearnBop, Inc. |  | 3,000 |  | $ | — |  | $ | — |  | 3,000 |
Total |  | $ | 19,801 |  | $ | — |  | $ | — |  | $ | 19,801 |
The following table summarizes certain fair value information at June 30, 2014 for assets and liabilities measured at fair value on a recurring basis:
|  | Fair Value Measurements Using: |
|  |  |  | Quoted Prices |  |  |  |  |
|  |  |  | in Active |  | Significant |  |  |
|  |  |  | Markets for |  | Other |  | Significant |
|  |  |  | Identical |  | Observable |  | Unobservable |
|  |  |  | Assets |  | Input |  | Inputs |
Description |  | Fair Value |  | (Level 1) |  | (Level 2) |  | (Level 3) |
|  | (In thousands) |
Redeemable Noncontrolling Interest in Middlebury Joint Venture |  | $ | 16,801 |  | $ | — |  | $ | — |  | $ | 16,801 |
Total |  | $ | 16,801 |  | $ | — |  | $ | — |  | $ | 16,801 |
The following table summarizes the activity during the nine months ended March 31, 2015 for assets and liabilities measured at fair value on a recurring basis:
|  | Nine Months Ended March 31, 2015 |
|  |  |  | Purchases, |  |  |  | Fair Value |
|  | Fair Value |  | Issuances, |  | Unrealized |  | March 31, |
Description |  | June 30, 2014 |  | and Settlements |  | Gains/(Losses) |  | 2015 |
|  | (In thousands) |
Redeemable Noncontrolling Interest in Middlebury Joint Venture |  | $ | 16,801 |  | $ | — |  | $ | — |  | $ | 16,801 |
Redeemable Noncontrolling Interest in LearnBop, Inc. |  | — |  | 3,000 |  | — |  | 3,000 |
Total |  | $ | 16,801 |  | $ | 3,000 |  | $ | — |  | $ | 19,801 |
Schedule of calculation of basic and diluted net income per share |
|  | Three Months Ended |  | Nine Months Ended |
|  | March 31, |  | March 31, |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
|  | (In thousands except shares and |  | (In thousands except shares and |
|  | per share data) |  | per share data) |
Basic and dilutive income per share: |  |  |  |  |  |  |  |  |
Net income attributable to common stockholders, including Series A stockholders |  | $ | 17,013 |  | $ | 15,949 |  | $ | 22,568 |  | $ | 7,244 |
Weighted average common shares — basic |  | 37,211,634 |  | 39,596,798 |  | 37,334,598 |  | 39,136,667 |
Weighted average common shares — diluted |  | 37,408,911 |  | 39,596,798 |  | 37,574,665 |  | 39,136,667 |
Basic net income per share |  | $ | 0.46 |  | $ | 0.40 |  | $ | 0.60 |  | $ | 0.19 |
Diluted net income per share |  | $ | 0.45 |  | $ | 0.40 |  | $ | 0.60 |  | $ | 0.19 |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph b -Article 5 + Details
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