XML 63 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8

Fair Value Measurements

9 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

• 13.   Fair Value Measurements

In assessing the fair value of financial instruments at March 31, 2014, the Company has used a variety of methods and assumptions which were based on estimates of market conditions and risks existing at the time.

Current Assets and Liabilities

The carrying amounts of cash and cash equivalents, trade receivables, trade payables and short-term debt are considered to be representative of their fair value because of the current nature of these investments.

Long Term Debt

The fair values of the Senior Notes are estimated based on quoted broker prices (level 2 inputs per ASC 820) and the fair values of the term loans are estimated based on quoted yields for the Senior Notes which are similar in structure, maturity and interest rate (level 2 inputs per ASC 820).

​	As of	​	​	March 31, 2014					​	​	June 30, 2013					​
​	Carrying values	​	​	​	​	​		​	​	​	​	​	​		​	​
​	9.25% senior notes due July 1, 2018	​	​	​	$	300,000		​	​	​	​	$	300,000		​	​
​	Less unamortized original issue discount	​	​	​	​	(2,105	)	​	​	​	​	​	(2,402	)	​	​
​	​	​	​	​	​	297,895		​	​	​	​	​	297,598		​	​
​	​	​	​	​	​	​		​	​	​	​	​	​		​	​
​	Term loan payable to Mayflower due December 31, 2016	​	​	​	​	24,000		​	​	​	​	​	24,000		​	​
​	Term loan payable to BFI due August 1, 2014	​	​	​	​	10,000		​	​	​	​	​	10,000		​	​
​	Less unamortized discount	​	​	​	​	(39	)	​	​	​	​	​	(126	)	​	​
​	​	​	​	​	​	9,961		​	​	​	​	​	9,874		​	​
​	Fair values	​	​	​	​	​		​	​	​	​	​	​		​	​
​	9.25% senior notes due July 1, 2018	​	​	​	$	318,000		​	​	​	​	$	322,500		​	​
​	Term loan payable to Mayflower due December 31, 2016	​	​	​	​	27,701		​	​	​	​	​	26,968		​	​
​	Term loan payable to BFI due August 1, 2014	​	​	​	​	10,293		​	​	​	​	​	10,644		​

X

- 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 825

-SubTopic 10

-Section 50

-Paragraph 21

-URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13537-108611



Reference 2: 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=28364263&loc=d3e13433-108611



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 820

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258



Reference 5: 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 6: 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=28364263&loc=d3e13504-108611

+ Details

Name:	us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration