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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Jun. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Components of accounts receivable

 

 

 

 

 

 

 

 

 

 

June 30,

 

 

 

2014

 

2015

 

Billed receivables

 

$

189,489

    

$

181,805

 

Unbilled receivables

 

 

1,975

 

 

2,614

 

Less allowance for doubtful accounts

 

 

(5,691)

 

 

(5,900)

 

Total

 

$

185,773

 

$

178,519

 

 

Summary of fair values of our financial assets and liabilities

The following is a summary of the investments carried at fair value (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

    

 

 

    

June 30,

    

 

 

    

 

 

    

June 30,

 

 

 

Level 1

 

Level 2

 

2014

 

Level 1

 

Level 2

 

2015

 

Equity securities

 

 

414

 

 

4,671

 

 

5,085

 

 

291

 

 

6,024

 

 

6,315

 

Insurance company contracts

 

 

 —

 

 

17,383

 

 

17,383

 

 

 —

 

 

20,100

 

 

20,100

 

Bonds

 

 

 —

 

 

1,695

 

 

1,695

 

 

 —

 

 

1,972

 

 

1,972

 

Derivative contracts

 

 

 —

 

 

28

 

 

28

 

 

 —

 

 

(41)

 

 

(41)

 

Total

 

$

414

 

$

23,777

 

$

24,191

 

$

291

 

$

28,055

 

$

28,346

 

 

Schedule of computation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted earnings per share for the fiscal years ended June 30 (in thousands, except earnings per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2014

 

2015

 

Net income available to common stockholders

 

$

44,135

 

$

47,894

 

$

65,151

 

Weighted average shares outstanding—basic

 

 

19,956

 

 

19,952

 

 

19,799

 

Dilutive effect of stock options

 

 

612

 

 

635

 

 

727

 

Weighted average shares outstanding—diluted

 

 

20,568

 

 

20,587

 

 

20,526

 

Basic earnings per share

 

$

2.21

 

$

2.40

 

$

3.29

 

Diluted earnings per share

 

$

2.15

 

$

2.33

 

$

3.17

 

 

Schedule of changes in warranty provisions

 

 

 

 

 

 

    

Provision for

 

 

 

Warranties

 

 

 

(in thousands)

 

Balance on June 30,  2012

 

$

17,562

 

Warranty claims provision

 

 

1,948

 

Settlements made

 

 

(6,620)

 

Balance on June 30,  2013

 

$

12,890

 

Warranty claims provision

 

 

5,573

 

Settlements made

 

 

(6,540)

 

Balance on June 30,  2014

 

$

11,923

 

Warranty claims provision

 

 

6,043

 

Settlements made

 

 

(5,228)

 

Balance on June 30,  2015

 

$

12,738