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Marketable Investment Securities

12 Months Ended

Jun. 30, 2016

Investments, Debt and Equity Securities [Abstract]

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, 2016 and 2015 were as follows:

		Amortized cost				Gross unrealized holding gains				Gross unrealized holding losses				Estimated fair value
At June 30, 2016:
Cash and cash equivalents:
Cash		$	66.1			$	—			$	—			$	66.1
Cash equivalents			2.4				—				—				2.4
Total cash and cash equivalents			68.5				—				—				68.5
Available-for-sale:
Corporate bonds and notes			50.8				0.2				—				51.0
Municipal bonds			85.4				0.2				—				85.6
Federal agency issues			25.5				—				—				25.5
US government securities			8.2				0.1				—				8.3
Total		$	238.4			$	0.5			$	—			$	238.9

		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
US government securities			—				—				—				—
Total		$	185.4			$	0.1			$	(0.1	)		$	185.4

Cash, cash equivalents, and maturities of debt securities classified as available-for-sale are as follows at June 30, 2016:

		Amortized cost				Estimated fair value
Cash		$	66.1			$	66.1
Cash equivalents			2.4				2.4
Available-for-sale:
Due within one year			90.5				90.5
Due after one year through five years			79.4				79.9
Due after five years			—				—
Total		$	238.4			$	238.9

Debt securities in an unrealized loss position as of June 30, 2016 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, 2016 and 2015 are debt securities. Debt securities available-for-sale in a gross unrealized loss position as of June 30, 2016 and 2015 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, 2016:
Debt securities:
Corporate bonds and notes			5.0				—				1.5				—				6.5				—
Municipal bonds			7.6				—				6.3				—				13.9				—
Federal agency issues			6.0				—				—				—				6.0				—
US government securities			—				—				—				—				—				—
		$	18.6			$	—			$	7.8			$	—			$	26.4			$	—
		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	)

Additional information relating to fair value of marketable investment securities can be found in Note 12.

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- References

No definition available.

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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=73527792&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=73527792&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=73527792&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=73527792&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=73527792&loc=d3e27405-111563

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