XML 39 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1

Fair Value of Financial Instruments (Tables)

3 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value

The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis as of September 30, 2018:

	Total				Quoted prices in active markets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
	(in thousands)
Assets:
Deferred compensation plan investments, current and non-current portion	$	25,365			$	25,365			$	—			$	—
Forward foreign currency exchange contracts	250				—				250				—
Interest rate swap agreement	1,797				—				1,797				—
Total assets at fair value	$	27,412			$	25,365			$	2,047			$	—
Liabilities:
Deferred compensation plan investments, current and non-current portion	$	25,365			$	25,365			$	—			$	—
Forward foreign currency exchange contracts	196				—				196				—
Liability for contingent consideration, current and non-current portion	80,173				—				—				80,173
Total liabilities at fair value	$	105,734			$	25,365			$	196			$	80,173

The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis as of June 30, 2018:

	Total				Quoted prices in active markets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
	(in thousands)
Assets:
Deferred compensation plan investments, current and non-current portion	$	23,352			$	23,352			$	—			$	—
Forward foreign currency exchange contracts	157				—				157				—
Interest rate swap agreement	1,604				—				1,604				—
Total assets at fair value	$	25,113			$	23,352			$	1,761			$	—
Liabilities:
Deferred compensation plan investments, current and non-current portion	$	23,352			$	23,352			$	—			$	—
Forward foreign currency exchange contracts	156				—				156				—
Liability for contingent consideration, current and non-current portion	108,233				—				—				108,233
Total liabilities at fair value	$	131,741			$	23,352			$	156			$	108,233

Schedule of Changes in Fair Value of Contingent Considerations

Valuation techniques and significant observable inputs used in recurring Level 3 fair value measurements for our contingent consideration liabilities as of September 30, 2018 and June 30, 2018 were as follows.

Reporting Period		Valuation Technique		Significant Unobservable Inputs		Weighted Average Rates
September 30, 2018		Discounted cash flow		Weighted average cost of capital		15.1	%
				Adjusted EBITDA growth rate		15.2	%
June 30, 2018		Discounted cash flow		Weighted average cost of capital		14.8	%
				Adjusted EBITDA growth rate		18.2	%

The table below provides a summary of the changes in fair value of the Company’s contingent considerations (Level 3) for the Network1 and Intelisys earnouts for the quarter ended September 30, 2018.

	Contingent consideration for the quarter ended
	September 30, 2018
	Barcode, Networking & Security Segment				Communications & Services Segment				Total
	(in thousands)
Fair value at beginning of period	$	—			$	108,233			$	108,233
Issuance of contingent consideration	—				—				—
Payments	—				(32,247		)		(32,247		)
Change in fair value of contingent consideration	—				4,584				4,584
Foreign currency translation adjustment	—				(397		)		(397		)
Fair value at end of period	$	—			$	80,173			$	80,173

The table below provides a summary of the changes in fair value of the Company’s contingent considerations (Level 3) for the Network1, Intelisys and POS Portal earnouts for the quarter ended September 30, 2017.

	Contingent consideration for the quarter ended
	September 30, 2017
	Barcode, Networking & Security Segment				Communications & Services Segment				Total
	(in thousands)
Fair value at beginning of period	$	—			$	114,036			$	114,036
Issuance of contingent consideration	13,098				—				13,098
Payments	—				(40,858		)		(40,858		)
Change in fair value of contingent consideration	69				16,812				16,881
Foreign currency translation adjustment	—				336				336
Fair value at end of period	$	13,167			$	90,326			$	103,493

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

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258

+ Details

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

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

+ Details

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