XML 65 R35.htm IDEA: XBRL DOCUMENT
v3.19.2

Fair Value of Financial Instruments (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2019
Fair Value Disclosures [Abstract] |
Short-term Investments and Financial Instruments | 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, 2019:
| 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 | $ | 25,787 |  |  | $ | 25,787 |  |  | $ | — |  |  | $ | — |
Forward foreign currency exchange contracts | 168 |  |  | — |  |  | 168 |  |  | — |
Total assets at fair value | $ | 25,955 |  |  | $ | 25,787 |  |  | $ | 168 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Deferred compensation plan investments, current and non-current portion | $ | 25,787 |  |  | $ | 25,787 |  |  | $ | — |  |  | $ | — |
Forward foreign currency exchange contracts | 165 |  |  | — |  |  | 165 |  |  | — |
Interest rate swap agreement | 3,504 |  |  | — |  |  | 3,504 |  |  | — |
Liability for contingent consideration, current and non-current | 77,925 |  |  | — |  |  | — |  |  | 77,925 |
Total liabilities at fair value | $ | 107,381 |  |  | $ | 25,787 |  |  | $ | 3,669 |  |  | $ | 77,925 |
The following table presents 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 | 108,233 |  |  | — |  |  | — |  |  | 108,233 |
Total liabilities at fair value | $ | 131,741 |  |  | $ | 23,352 |  |  | $ | 156 |  |  | $ | 108,233 |
Fair Value, Business Acquisition, Liability for Contingent Consideration | The table below provides a summary of the changes in fair value of the Company’s contingent considerations for the Network1, and Intelisys earnouts, which is measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the fiscal year ended June 30, 2019. The final earnout payment due to former shareholders of Network1 was paid during fiscal year ended June 30, 2019.
| Contingent Consideration for the Fiscal Year Ended
| June 30, 2019
| Worldwide Barcode, Networking & Security Segment |  | Worldwide Communications & Services Segment |  | Total
| (in thousands)
Fair value at beginning of period | $ | — |  |  | $ | 108,233 |  |  | $ | 108,233 |
Payments | — |  |  | (45,796 | ) |  | (45,796 | )
Change in fair value | — |  |  | 15,200 |  |  | 15,200 |
Fluctuation due to foreign currency exchange | — |  |  | 288 |  |  | 288 |
Fair value at end of period | $ | — |  |  | $ | 77,925 |  |  | $ | 77,925 |
The table below provides a summary of the changes in fair value of the Company’s contingent considerations for the Network1, Intelisys and POS Portal earnouts, which is measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the fiscal year ended June 30, 2018.The contingent consideration due to the former shareholders of POS Portal was paid in full during fiscal year ended June 30, 2018.
| Contingent Consideration for the Fiscal Year Ended
| June 30, 2018
| Worldwide Barcode, Networking & Security Segment |  | Worldwide 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 | (13,167 | ) |  | (40,858 | ) |  | (54,025 | )
Adjustments to contingent consideration (1) | — |  |  | (779 | ) |  | (779 | )
Change in fair value | 69 |  |  | 36,974 |  |  | 37,043 |
Fluctuation due to foreign currency exchange | — |  |  | (1,140 | ) |  | (1,140 | )
Fair value at end of period | $ | — |  |  | $ | 108,233 |  |  | $ | 108,233 |
Scheduled maturities of the Company’s contingent considerations at June 30, 2019 are as follows:
| Contingent Consideration
| (in thousands)
Fiscal year: |
2020 | $ | 38,393 |
2021 | 39,532 |
Total contingent consideration payments | $ | 77,925 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | Valuation techniques and significant observable inputs used in recurring Level 3 fair value measurements for our contingent consideration liabilities as of June 30, 2019 and 2018 were as follows.
Reporting Period |  | Valuation Technique |  | Significant Unobservable Inputs |  | Weighted Average Rates
June 30, 2019 |  | Discounted cash flow |  | Weighted average cost of capital |  | 14.2 | %
|  |  |  | Adjusted EBITDA growth rate |  | 21.5 | %
June 30, 2018 |  | Discounted cash flow |  | Weighted average cost of capital |  | 14.8 | %
|  |  |  | Adjusted EBITDA growth rate |  | 18.2 | %

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=117815213&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=117815213&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 contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionContingentConsiderationTextBlock
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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration