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Summary of Significant Accounting Policy (Tables)

6 Months Ended

Dec. 31, 2017

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 intangible assets

		December 31, 2017									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		$	(8.1)		$	9.5		$	17.6		$	(7.6)		$	10.0
Customer and distributor relationships			20.5			(12.7)			7.8			20.1			(12.0)			8.1
Developed technology			3.2			(2.0)			1.2			2.9			(1.7)			1.2
Other			1.4			(0.5)			0.9			1.4			(0.5)			0.9
Total		$	42.7		$	(23.3)		$	19.4		$	42.0		$	(21.8)		$	20.2

Schedule of assets and liabilities measured at fair value on a nonrecurring basis

The following table summarizes certain fair value information at December 31, 2017 for assets or 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

4,000

—

—

4,000

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

The following table summarizes certain fair value information at December 31, 2017 for assets or 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

$

1,340

$

—

$

—

$

1,340

The following table summarizes certain fair value information at June 30, 2017 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)

Contingent consideration associated with acquisitions

$

2,806

$

—

$

—

$

2,806

Schedule of activity related to fair value measurements categorized as Level 3 of the valuation hierarchy, valued on a recurring basis

The following tables summarize the activity during the three and six months ended December 31, 2017 and 2016 for assets and liabilities measured at fair value on a recurring basis:

		Three Months Ended December 31, 2017
					Purchases,
		Fair Value			Issuances,			Unrealized			Fair Value
Description		September 30, 2017			and Settlements			Gains/(Losses)			December 31, 2017
			(In thousands)
Contingent consideration associated with acquisitions		$	838		$	500		$	2		$	1,340
Total		$	838		$	500		$	2		$	1,340

		Three Months Ended December 31, 2016
					Purchases,
		Fair Value			Issuances,			Unrealized			Fair Value
Description		September 30, 2016			and Settlements			Gains (Losses)			December 31, 2016
		(In thousands)
Redeemable Noncontrolling Interest in Middlebury Interactive Learning		$	9,201		$	(9,134)		$	(67)		$	—
Contingent consideration associated with acquisitions			2,955			—			8			2,963
Total		$	12,156		$	(9,134)		$	(59)		$	2,963

			Six Months Ended December 31, 2017
					Purchases,
		Fair Value			Issuances,			Unrealized			Fair Value
Description		June 30, 2017			and Settlements			Gains (Losses)			December 31, 2017
		(In thousands)
Contingent consideration associated with acquisitions		$	2,806		$	(1,319)		$	(147)		$	1,340
Total		$	2,806		$	(1,319)		$	(147)		$	1,340

			Six Months Ended December 31, 2016
					Purchases,
		Fair Value			Issuances,			Unrealized			Fair Value
Description		June 30, 2016			and Settlements			Gains (Losses)			December 31, 2016
		(In thousands)
Redeemable Noncontrolling Interest in Middlebury Interactive Learning		$	6,801		$	(9,134)		$	2,333		$	—
Contingent consideration associated with acquisitions			2,947			—			16			2,963
Total		$	9,748		$	(9,134)		$	2,349		$	2,963

Schedule of calculation of basic and diluted net income (loss) per share

		Three Months Ended						Six Months Ended
		December 31,						December 31,
		2017			2016			2017			2016
			(In thousands except share and per share data)
Basic net income (loss) per share computation:
Net income (loss) attributable to common stockholders		$	13,259		$	11,652		$	5,203		$	(2,181)
Weighted average common shares  — basic			39,347,244			38,104,909			39,227,708			38,021,807
Basic net income (loss) per share		$	0.34		$	0.31		$	0.13		$	(0.06)
Diluted net income (loss) per share computation:
Net income (loss) attributable to common stockholders		$	13,259		$	11,652		$	5,203		$	(2,181)
Share computation:
Weighted average common shares  — basic			39,347,244			38,104,909			39,227,708			38,021,807
Effect of dilutive stock options and restricted stock awards			1,338,423			902,367			1,545,309			—
Weighted average common shares  — diluted			40,685,667			39,007,276			40,773,017			38,021,807
Diluted net income (loss) per share		$	0.33		$	0.30		$	0.13		$	(0.06)

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