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Marketable Investment Securities | 12 Months Ended
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Jun. 30, 2015
Marketable Investment Securities |
3. | MARKETABLE INVESTMENT SECURITIES
The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of security at June 30, 2015 and 2014 were as follows:
|  | Amortized cost |  |  | Gross unrealized holding gains |  |  | Gross unrealized holding losses |  |  | Estimated fair value |
At June 30, 2015: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 54.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 54.7 |
Cash equivalents |  |  | 9.4 |  |  |  | — |  |  |  | — |  |  |  | 9.4 |
Total cash and cash equivalents |  |  | 64.1 |  |  |  | — |  |  |  | — |  |  |  | 64.1 |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds and notes |  |  | 41.8 |  |  |  | — |  |  |  | — |  |  |  | 41.8 |
Municipal bonds |  |  | 66.3 |  |  |  | 0.1 |  |  |  | (0.1 | ) |  |  | 66.3 |
Federal agency issues |  |  | 13.2 |  |  |  | — |  |  |  | — |  |  |  | 13.2 |
Total |  | $ | 185.4 |  |  | $ | 0.1 |  |  | $ | (0.1 | ) |  | $ | 185.4 |
|  | Amortized cost |  |  | Gross unrealized holding gains |  |  | Gross unrealized holding losses |  |  | Estimated fair value |
At June 30, 2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 45.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 45.2 |
Cash equivalents |  |  | 19.6 |  |  |  | — |  |  |  | — |  |  |  | 19.6 |
Total cash and cash equivalents |  |  | 64.8 |  |  |  | — |  |  |  | — |  |  |  | 64.8 |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds and notes |  |  | 44.5 |  |  |  | — |  |  |  | — |  |  |  | 44.5 |
Municipal bonds |  |  | 137.8 |  |  |  | 0.3 |  |  |  | — |  |  |  | 138.1 |
Federal agency issues |  |  | 23.1 |  |  |  | — |  |  |  | — |  |  |  | 23.1 |
Total |  | $ | 270.2 |  |  | $ | 0.3 |  |  | $ | — |  |  | $ | 270.5 |
Cash, cash equivalents, and maturities of debt securities classified as available-for-sale are as follows at June 30, 2015:
|  | Amortized cost |  |  | Estimated fair value |
Cash |  | $ | 54.7 |  |  | $ | 54.7 |
Cash equivalents |  |  | 9.4 |  |  |  | 9.4 |
Available-for-sale: |  |  |  |  |  |  |  |
Due within one year |  |  | 80.7 |  |  |  | 80.7 |
Due after one year through five years |  |  | 40.6 |  |  |  | 40.6 |
Due after five years |  |  | — |  |  |  | — |
Total |  | $ | 185.4 |  |  | $ | 185.4 |
Debt securities in an unrealized loss position as of June 30, 2015 were not impaired at acquisition and the declines in fair value are not attributed to declines in credit quality. Management believes that it is more likely than not that the securities will be held until a recovery of par value. All securities in an unrealized loss position as of June 30, 2015 and 2014 are debt securities. Debt securities available-for-sale in a gross unrealized loss position as of June 30, 2015 and 2014 are summarized as follows:
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Fair value |  |  | Unrealized losses |  |  | Fair value |  |  | Unrealized losses |  |  | Fair value |  |  | Unrealized losses |
At June 30, 2015: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds and notes |  |  | 24.4 |  |  |  | (0.0 | ) |  |  | — |  |  |  | — |  |  |  | 24.4 |  |  |  | (0.0 | )
Municipal bonds |  |  | 24.8 |  |  |  | (0.1 | ) |  |  | — |  |  |  | — |  |  |  | 24.8 |  |  |  | (0.1 | )
Federal agency issues |  |  | 1.9 |  |  |  | (0.0 | ) |  |  | — |  |  |  | — |  |  |  | 1.9 |  |  |  | (0.0 | )
|  | $ | 51.1 |  |  | $ | (0.1 | ) |  | $ | — |  |  | $ | — |  |  | $ | 51.1 |  |  | $ | (0.1 | )
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Fair value |  |  | Unrealized losses |  |  | Fair value |  |  | Unrealized losses |  |  | Fair value |  |  | Unrealized losses |
At June 30, 2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds and notes |  |  | 16.0 |  |  |  | (0.0 | ) |  |  | — |  |  |  | — |  |  |  | 16.0 |  |  |  | (0.0 | )
Municipal bonds |  |  | 8.6 |  |  |  | (0.0 | ) |  |  | — |  |  |  | — |  |  |  | 8.6 |  |  |  | (0.0 | )
Federal agency issues |  |  | 5.0 |  |  |  | (0.0 | ) |  |  | — |  |  |  | — |  |  |  | 5.0 |  |  |  | (0.0 | )
|  | $ | 29.6 |  |  | $ | (0.0 | ) |  | $ | — |  |  | $ | — |  |  | $ | 29.6 |  |  | $ | (0.0 | )
Additional information relating to fair value of marketable investment securities can be found in Note 12.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 + Details
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