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Fair Value Measurements (Notes)
 9 Months Ended
Mar. 31, 2014
Fair Value Disclosures [Abstract]  
Fair Value Measurements
Investments and Fair Value Measurements
The following table summarizes our investments in available-for-sale securities:
 
March 31, 2014
 
Amortized Cost Basis
 
Unrealized gain
 
Estimated Fair Value
Available-for-sale securities
 
 
 
 
 
Plaza Create Co. Ltd. common shares (1)
$
4,644

 
$
6,283

 
$
10,927

Total investments in available-for-sale securities
$
4,644

 
$
6,283

 
$
10,927

________________________
(1) On February 28, 2014, we purchased shares in our publicly traded Japanese joint venture partner. Refer to Note 12 for further discussion of the separate joint business arrangement.
We did not have any outstanding available-for-sale securities for the year ended June 30, 2013.
The following tables summarize our financial assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy:
 
March 31, 2014
 
Total
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets
 
 
 
 
 
 
 
Available-for-sale securities
$
10,927

 
$
10,927

 
$
—

 
$
—

Interest rate swap contracts
124

 
—

 
124

 
—

Currency forward contracts
401

 
—

 
401

 
—

Total assets recorded at fair value
$
11,452

 
$
10,927

 
$
525

 
$
—

 


 


 


 


Liabilities


 


 


 


Interest rate swap contracts
$
(189
)
 
$
—

 
$
(189
)
 
$
—

Currency forward contracts
(3,056
)
 
—

 
(3,056
)
 
—

Total liabilities recorded at fair value
$
(3,245
)
 
$
—

 
$
(3,245
)
 
$
—

 
June 30, 2013
 
Total
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets
 
 
 
 
 
 
 
Interest rate swap contracts
$
344

 
$
—

 
$
344

 
$
—

Currency forward contracts
70

 
—

 
70

 
—

Total assets recorded at fair value
$
414

 
$
—

 
$
414

 
$
—

 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Interest rate swap contracts
$
(70
)
 
$
—

 
$
(70
)
 
$
—

Currency forward contracts
(203
)
 
—

 
(203
)
 
—

Total liabilities recorded at fair value
$
(273
)
 
$
—

 
$
(273
)
 
$
—


The fair value of our Level 1 financial assets are based on quoted market prices of the identical underlying security. The fair values of our Level 2 financial assets and liabilities are obtained using quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets in markets that are not active; and inputs other than quoted prices, e.g., interest rates and yield curves. During the three and nine months ended March 31, 2014 and March 31, 2013 there were no significant transfers in or out of Level 1, Level 2 and Level 3 classifications.     
The valuations of the derivatives intended to mitigate our interest rate and currency risk are determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each instrument. This analysis utilizes observable market-based inputs, including interest rate curves, interest rate volatility, or spot and forward exchange rates, and reflects the contractual terms of these instruments, including the period to maturity. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements.     
Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to appropriately reflect both our own nonperformance risk and the respective counterparties' nonperformance risk in the fair value measurement. However, as of March 31, 2014, we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. As a result, we have determined that our derivative valuations in their entirety are classified in Level 2 in the fair value hierarchy.
As of March 31, 2014 and June 30, 2013, the carrying amounts of cash and cash equivalents, receivables, accounts payable, and other current liabilities approximated their estimated fair values. As of March 31, 2014 the carrying value of our debt was $201,953 and the fair value was $206,657. As of June 30, 2013, we performed an evaluation of the estimated fair value of our debt and determined that the fair value approximates the carrying value of the liability. Our debt is a variable rate debt instrument indexed to LIBOR that resets periodically. The estimated fair value of our debt was determined using available market information based on recent trades or activity of debt instruments with substantially similar risks, terms and maturities, which fall within Level 2 under the fair value hierarchy. The estimated fair value of assets and liabilities disclosed above may not be representative of actual values that could have been or will be realized in the future.