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Summary of Significant Accounting Policy (Tables) | 12 Months Ended
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Jun. 30, 2018
Summary of Significant Accounting Policies |
Schedule of useful lives of property and equipment |
|  | Useful Life
Student and state testing computers |  | 3 - 5 years
Computer hardware |  | 3 years
Computer software |  | 3 - 5 years
Web site development |  | 3 years
Office equipment |  | 5 years
Furniture and fixtures |  | 7 years
Leasehold improvements |  | 3 - 12 years
Schedule of goodwill activity |
($ in millions) |  | Amount
Goodwill |  |  |
Balance as of June 30, 2015 |  | $ | 66.2
Acquisition of LTS |  |  | 21.1
Balance as of June 30, 2016 |  | $ | 87.3
Adjustment to purchase price of LTS |  |  | (0.1)
Balance as of June 30, 2017 |  | $ | 87.2
Acquisition of Big Universe, Inc. |  |  | 3.0
Balance as of June 30, 2018 |  | $ | 90.2
Schedule of intangible assets |
|  | June 30, 2018 |  | June 30, 2017
($ in millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
Trade names |  | $ | 17.6 |  | $ | (8.5) |  | $ | 9.1 |  | $ | 17.6 |  | $ | (7.6) |  | $ | 10.0
Customer and distributor relationships |  |  | 20.5 |  |  | (13.4) |  |  | 7.1 |  |  | 20.1 |  |  | (12.0) |  |  | 8.1
Developed technology |  |  | 3.2 |  |  | (2.2) |  |  | 1.0 |  |  | 2.9 |  |  | (1.7) |  |  | 1.2
Other |  |  | 1.4 |  |  | (0.6) |  |  | 0.8 |  |  | 1.4 |  |  | (0.5) |  |  | 0.9
Total |  | $ | 42.7 |  | $ | (24.7) |  | $ | 18.0 |  | $ | 42.0 |  | $ | (21.8) |  | $ | 20.2
Schedule of calculation of basic and diluted net income (loss) per share |
|  |  | Year Ended June 30,
|  |  | 2018 |  | 2017 |  | 2016
|  |  | (In thousands except share and per share data)
Basic net income per share computation: |  |  |  |  |  |  |  |  |  |
Net income attributable to common stockholders |  |  | $ | 27,620 |  | $ | 451 |  | $ | 9,035
Weighted average common shares — basic |  |  |  | 39,282,674 |  |  | 38,298,581 |  |  | 37,613,782
Basic net income per share |  |  | $ | 0.70 |  | $ | 0.01 |  | $ | 0.24
Diluted net income per share computation: |  |  |  |  |  |  |  |  |  |
Net income attributable to common stockholders |  |  | $ | 27,620 |  | $ | 451 |  | $ | 9,035
Share computation: |  |  |  |  |  |  |  |  |  |
Weighted average common shares — basic |  |  |  | 39,282,674 |  |  | 38,298,581 |  |  | 37,613,782
Effect of dilutive stock options and restricted stock awards |  |  |  | 1,355,070 |  |  | 1,202,353 |  |  | 1,236,606
Weighted average common shares — diluted |  |  |  | 40,637,744 |  |  | 39,500,934 |  |  | 38,850,388
Diluted net income per share |  |  | $ | 0.68 |  | $ | 0.01 |  | $ | 0.23
Schedule of assets and liabilities measured at fair value on a nonrecurring basis | The following table summarizes certain fair value information at June 30, 2018 for assets and liabilities measured at fair value on a nonrecurring 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)
Lease exit liability |  | $ | 2,758 |  | $ | — |  | $ | — |  | $ | 2,758
The following table summarizes certain fair value information at June 30, 2017 for assets and liabilities measured at fair value on a nonrecurring 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)
Held for sale asset |  | $ | 1,200 |  | $ | — |  | $ | — |  | $ | 1,200
Lease exit liability |  |  | 4,841 |  |  | — |  |  | — |  |  | 4,841
Schedule of 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)
Contingent consideration associated with acquisitions |  | $ | 1,345 |  | $ | — |  | $ | — |  | $ | 1,345
The following table summarizes certain fair value information at June 30, 2017 for assets and liabilities measured at fair value on a recurring basis.
Schedule of activity related to fair value measurements categorized as Level 3 of the valuation hierarchy, valued 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)
Contingent consideration associated with acquisitions |  | $ | 2,806 |  | $ | — |  | $ | — |  | $ | 2,806
The following table presents activity related to the Company’s fair value measurements categorized as Level 3 of the valuation hierarchy, valued on a recurring basis, for the year ended June 30, 2018.
|  |  | Year Ended June 30, 2018
|  |  |  |  | Purchases, |  |  |  |  |  |
|  | Fair Value |  | Issuances, |  | Unrealized |  | Fair Value
Description |  | June 30, 2017 |  | and Settlements |  | Gains (Losses) |  | June 30, 2018
|  | (In thousands)
Contingent consideration associated with acquisitions |  | $ | 2,806 |  | $ | (1,319) |  | $ | (142) |  | $ | 1,345
The following table presents activity related to the Company’s fair value measurements categorized as Level 3 of the valuation hierarchy, valued on a recurring basis, for the year ended June 30, 2017.
|  |  | Year Ended June 30, 2017
|  |  |  |  | Purchases, |  |  |  |  |  |
|  | Fair Value |  | Issuances, |  | Unrealized |  | Fair Value
Description |  | June 30, 2016 |  | and Settlements |  | Gains (Losses) |  | June 30, 2017
|  | (In thousands)
Redeemable noncontrolling interest in Middlebury Interactive Learning |  | $ | 6,801 |  | $ | (9,134) |  | $ | 2,333 |  | $ | —
Contingent consideration associated with acquisitions |  |  | 2,947 |  |  | — |  |  | (141) |  |  | 2,806
Total |  | $ | 9,748 |  | $ | (9,134) |  | $ | 2,192 |  | $ | 2,806
The following table presents activity related to the Company’s fair value measurements categorized as Level 3 of the valuation hierarchy, valued on a recurring basis, for the year ended June 30, 2016.
|  |  | Year Ended June 30, 2016
|  |  |  |  | Purchases, |  |  |  |  |  |
|  | Fair Value |  | Issuances, |  | Unrealized |  | Fair Value
Description |  | June 30, 2015 |  | and Settlements |  | Gains (Losses) |  | June 30, 2016
|  | (In thousands)
Redeemable noncontrolling interest in Middlebury Interactive Learning |  | $ | 6,801 |  | $ | — |  | $ | — |  | $ | 6,801
Contingent consideration associated with acquisitions |  |  | — |  |  | 2,942 |  |  | 5 |  |  | 2,947
Total |  | $ | 6,801 |  | $ | 2,942 |  | $ | 5 |  | $ | 9,748

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