XML 22 R10.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Fair Value | 6 Months Ended
--- | ---
Dec. 31, 2015
Fair Value Disclosures [Abstract] |
Fair Value | 4. Fair Value Financial assets and liabilities, measured at fair value on a recurring basis by level within the fair value hierarchy, consisted of the following (in millions):
|  | December 31, |  |  | June 30, |
|  | 2015 |  |  | 2015 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 345.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 376.3 |  |  | $ | — |  |  | $ | — |
Auction rate securities |  |  | — |  |  |  | — |  |  |  | 14.2 |  |  |  | — |  |  |  | — |  |  |  | 15.8 |
Total available-for-sale securities |  | $ | 345.2 |  |  | $ | — |  |  | $ | 14.2 |  |  | $ | 376.3 |  |  | $ | — |  |  | $ | 15.8 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration liabilities recorded for business combinations |  | $ | — |  |  | $ | — |  |  | $ | 33.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 44.2 |
Foreign currency contract liabilities |  | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1.3 |  |  | $ | — |
In our condensed consolidated balance sheets as of December 31, 2015 and June 30, 2015, money market balances were included in cash and cash equivalents, and auction rate securities, or ARS investments, were included in non-current other assets except for $600,000 of the ARS investments were included in prepaid expenses and other current assets as of June 30, 2015. The contingent consideration liability recorded for business combinations was included in acquisition-related liabilities as of December 31, 2015 and June 30, 2015, respectively. We measure our foreign currency contracts at fair value on a recurring basis. We utilized Level 2 inputs to value the foreign currency forward contracts. Specifically, we utilized quoted prices for similar assets and liabilities in markets that are not active. Key inputs for the foreign currency forward contracts are spot rates and yield curves for the respective currencies. The foreign currency contracts were included in other accrued liabilities as of December 31, 2015 and June 30, 2015. Changes in fair value of our Level 3 financial assets as of December 31, 2015 were as follows (in millions):
Balance as of June 30, 2015 |  | $ | 15.8 |
Net loss |  |  | (1.0 | )
Redemptions |  |  | (0.6 | )
Balance as of December 31, 2015 |  | $ | 14.2 |
Changes in fair value of our Level 3 contingent consideration liabilities as of December 31, 2015 were as follows (in millions):
Balance as of June 30, 2015 |  | $ | 44.2 |
Cash settlement of contingent consideration liability |  |  | (9.6 | )
Accretion and remeasurement |  |  | (1.6 | )
Balance as of December 31, 2015 |  | $ | 33.0 |
In connection with our acquisition of Validity Sensors, Inc., or Validity, we entered into a contingent consideration arrangement. As of December 31, 2015, we may be required to make additional cash payments of up to $100.6 million as consideration to the former Validity stockholders and option holders based on unit sales of products utilizing Validity technology through March 2016. In connection with our acquisition of Pacinian Corporation, or Pacinian, we entered into a contingent consideration arrangement. As of December 31, 2015, we may be required to make additional cash payments of up to $10.0 million as consideration to the former Pacinian stockholders based on unit sales of products utilizing ThinTouch technology through June 2016. Changes in the fair value of our contingent consideration liabilities subsequent to the Validity and Pacinian acquisitions are included in operating expenses as change in contingent consideration in the condensed consolidated statements of income. Cash payments of contingent consideration are classified in the condensed consolidated statements of cash flows as a financing activity up to the amount of the contingent consideration recorded at the time of the acquisition, and as an operating activity for cash payments that exceed the liability recorded at the time of acquisition. There were no transfers in or out of our Level 1, 2, or 3 assets or liabilities during the three and six months ended December 31, 2015 and 2014. The fair values of our accounts receivable and accounts payable approximate their carrying values because of the short-term nature of those instruments. Intangible assets, property and equipment, and goodwill are measured at fair value on a non-recurring basis if impairment is indicated. The interest rate on our bank debt is variable, which is subject to change from time to time to reflect a market interest rate; accordingly, the carrying value of our bank debt approximates fair value.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13537-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13504-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration