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Fair Value Measurements
6 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Fair Value Measurements
11.    Fair Value Measurements
 
Short-term investments
We consider the carrying amounts of short-term investments to be representative of their fair value because of the nature of the items.
Contingent Consideration on Acquisitions
We determine the fair value of contingent consideration on acquisitions based on contractual terms, our current forecast of performance factors related to the acquired business and an applicable discount rate.
Derivatives
We determine the fair value of derivative instruments based upon pricing models using observable market inputs for these types of financial instruments, such as spot and forward currency translation rates, and interest rate curves.
Fair Value of Assets (Liabilities)
As of
December 31, 2017
June 30, 2017
Level 1
Level 2
Level 3
Level 1
Level 2
Level 3
Short-term investments
$ 27,000 $ $ $ $ $
Derivatives asset
$  — $  — $  — $  — $ 2,686 $  —
Interest rate swap
$  — $ 1,788 $  — $  — $  — $  —
Contingent consideration on 
acquisitions
$  — $  — $ (8,079) $  — $  — $ (7,644)
 
The table below provides a summary of the changes in the fair value of Level 3 assets (liabilities):
Balance, June 30, 2017
$ (7,644)
Acquisition-related accrued interest
(505)
Payment
70
Balance, December 31, 2017
$ (8,079)