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Auction Rate Securities (Tables)
 9 Months Ended
Mar. 31, 2017
Text Block [Abstract]  
ARS Investments

The ARS investments we held as of March 31, 2017, including the original cost basis, other-than-temporary impairment included in retained earnings, new cost basis, unrealized gain, and fair value, consisted of the following (in millions):

 

 

 

Original

Cost Basis

 

 

Other-than-

temporary

Impairment

in Retained

Earnings

 

 

New Cost

Basis

 

 

Unrealized

Gain

 

 

Fair Value

 

Preferred stock

 

$

5.0

 

 

$

(5.0

)

 

$

-

 

 

$

1.5

 

 

$

1.5

 

The ARS investments we held as of June 30, 2016, including the original cost basis, other-than-temporary impairment included in retained earnings, new cost basis, unrealized gain, and fair value, consisted of the following (in millions):

 

 

 

Original

Cost Basis

 

 

Other-than-

temporary

Impairment

in Retained

Earnings

 

 

New Cost

Basis

 

 

Unrealized

Gain

 

 

Fair Value

 

Credit linked notes

 

$

7.5

 

 

$

(2.2

)

(1)

$

5.3

 

 

$

1.8

 

 

$

7.1

 

Preferred stock

 

 

5.0

 

 

 

(5.0

)

 

 

-

 

 

 

1.5

 

 

 

1.5

 

Total ARS

 

$

12.5

 

 

$

(7.2

)

 

$

5.3

 

 

$

3.3

 

 

$

8.6

 

 

(1)

Other-than-temporary impairment in retained earnings is partially offset by cumulative accretion of $4.4 million on non-current investments.  Accretion is reclassified from accumulated other comprehensive income and recorded in the condensed consolidated statements of income as non-cash interest income.