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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2016

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Summary of reclassification of consolidated balance sheet line items, due to early adoption of ASU 2015-17

The following table summarizes these reclassifications as follows (in thousands):

	Changes to Consolidated Balance Sheet as of June 30, 2015
	As previously presented DR (CR)			Reclassifications Pursuant to ASU 2015-17			Other Reclassifications			Current DR (CR)
Deferred income tax asset		44,887			(44,887	)					—
Other assets		63,870			2,502						66,372
Income tax payable		(9,610	)		—			9,610			—
Other accrued expenses and current liabilities		(52,593	)		7,638			(9,610	)		(54,565	)
Advances from customers—non-current		(25,000	)					25,000			—
Deferred income tax liability		(65,435	)		34,747						(30,688	)
Other long-term liabilities		(49,623	)					(25,000	)		(74,623	)

					—			—


Net decrease to working capital					(37,249	)		—


Net decrease to total assets					(42,385	)		—

Components of accounts receivable

Components of accounts receivable consisted of (in thousands):

	June 30,
	2015			2016
Accounts receivables	$	184,419		$	148,767
Less allowance for doubtful accounts		(5,900	)		(7,051	)

Total	$	178,519		$	141,716

Summary of fair values of financial assets and liabilities

The fair values of our financial assets and liabilities as of June 30, 2015 and 2016 are categorized as follows (in thousands):

	June 30, 2015										June 30, 2016
	Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3		Total
Assets:
Equity securities	$	291	$	2,150		$	—	$	2,441		$	354	$	—			—	$	354
Insurance company contracts		—		20,100			—		20,100			—		21,353			—		21,353
Interest rate contract		—		(41	)		—		(41	)		—		(31	)		—		(31	)

Total assets	$	291	$	22,209		$	—	$	22,500		$	354	$	21,322		$	—	$	21,676


Liabilities—Contingent payment obligations	$	—	$	—		$	17,175	$	17,175		$	—	$	—		$	17,117	$	17,117

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):

	2014		2015		2016
Net income available to common stockholders	$	47,894	$	65,151	$	26,157


Weighted average shares outstanding—basic		19,952		19,799		19,427
Dilutive effect of equity awards		635		727		649

Weighted average shares outstanding—diluted		20,587		20,526		20,076


Basic earnings per share	$	2.40	$	3.29	$	1.35


Diluted earnings per share	$	2.33	$	3.17	$	1.30

Schedule of changes in warranty provisions

The warranty provision is included in the Other accrued expenses and current liabilities in the consolidated balance sheets, whose activity for each of the three fiscal years ended June 30, 2016 is summarized in the following table (in thousands)

Warranty provision as of June 30, 2013	$	12,890
Warranty claims provision		5,573
Settlements made		(6,540	)

Warranty provision as of June 30, 2014	$	11,923
Warranty claims provision		6,043
Settlements made		(5,228	)

Warranty provision as of June 30, 2015	$	12,738
Warranty claims provision		12,296
Settlements made		(9,086	)

Warranty provision as of June 30, 2016	$	15,948