XML 43 R29.htm IDEA: XBRL DOCUMENT v3.19.1

Fair Value of Financial Instruments (Tables)

9 Months Ended

Mar. 31, 2019

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 March 31, 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	$	24,574			$	24,574			$	—			$	—
Forward foreign currency exchange contracts	581				—				581				—
Interest rate swap agreement	524				—				524				—
Total assets at fair value	$	25,679			$	24,574			$	1,105			$	—
Liabilities:
Deferred compensation plan investments, current and non-current portion	$	24,574			$	24,574			$	—			$	—
Forward foreign currency exchange contracts	112				—				112				—
Liability for contingent consideration, current and non-current portion	74,259				—				—				74,259
Total liabilities at fair value	$	98,945			$	24,574			$	112			$	74,259

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

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 and nine months ended March 31, 2019.

	Contingent consideration for the quarter ended												Contingent consideration for the nine months ended
	March 31, 2019												March 31, 2019
	Barcode, Networking & Security Segment				Communications & Services Segment				Total				Barcode, Networking & Security Segment				Communications & Services Segment				Total
	(in thousands)
Fair value at beginning of period	$	—			$	71,886			$	71,886			$	—			$	108,233			$	108,233
Issuance of contingent consideration	—				—				—				—				—				—
Payments	—				(2,736		)		(2,736		)		—				(45,796		)		(45,796		)
Change in fair value of contingent consideration	—				5,101				5,101				—				11,535				11,535
Foreign currency translation adjustment	—				8				8				—				287				287
Fair value at end of period	$	—			$	74,259			$	74,259			$	—			$	74,259			$	74,259

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 and nine months ended March 31, 2018.

	Contingent consideration for the quarter ended												Contingent consideration for the nine months ended
	March 31, 2018												March 31, 2018
	Barcode, Networking & Security Segment				Communications & Services Segment				Total				Barcode, Networking & Security Segment				Communications & Services Segment				Total
	(in thousands)
Fair value at beginning of period	$	—			$	97,031			$	97,031			$	—			$	114,036			$	114,036
Issuance of contingent consideration	—				—				—				13,098				—				13,098
Payments	—				—				—				(13,167		)		(40,858		)		(54,025		)
Change in fair value of contingent consideration	—				4,801				4,801				69				28,526				28,595
Foreign currency translation adjustment	—				(54		)		(54		)		—				74				74
Fair value at end of period	$	—			$	101,778			$	101,778			$	—			$	101,778			$	101,778

Valuation techniques and significant observable inputs used in recurring Level 3 fair value measurements for our contingent consideration liability related to Intelisys as of March 31, 2019 and June 30, 2018 were as follows.

Reporting Period		Valuation Technique		Significant Unobservable Inputs		Weighted Average Rates
March 31, 2019		Discounted cash flow		Weighted average cost of capital		14.9	%
				Adjusted EBITDA growth rate		15.3	%
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=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