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Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Assets (Liabilities)

The following tables set forth the fair value of the Company’s financial assets(liabilities) that are re-measured on a regular basis:

		Level 1				Level 2				Level 3				Total
June 30, 2018
Money market funds (a)		$	12.5			$	—			$	—			$	12.5
Corporate bonds and notes			2.8				50.5				—				53.3
Municipal bonds			—				29.2				—				29.2
Federal agency issues			—				12.4				—				12.4
US government securities			—				8.3				—				8.3
Contingent consideration			—				—				(14.5	)			(14.5	)
Total		$	15.3			$	100.4			$	(14.5	)		$	101.2

(a) Money market funds are primarily comprised of exchange traded funds and accrued interest

		Level 1				Level 2				Level 3				Total
June 30, 2017
Money market funds (a)		$	7.4			$	—			$	—			$	7.4
Corporate bonds and notes			—				50.4				—				50.4
Municipal bonds			—				36.9				—				36.9
Federal agency issues			—				13.8				—				13.8
US government securities			—				7.2				—				7.2
Contingent consideration			—				—				(140.5	)			(140.5	)
Total		$	7.4			$	108.3			$	(140.5	)		$	(24.8	)

(a) Money market funds are primarily comprised of exchange traded funds and accrued interest

Change in Fair Value of Contingent Consideration

The following table reconciles the change in the fair value of the contingent consideration during the periods presented:

	Carrying Amount
Balance June 30, 2017	$	140.5
Payment of contingent consideration		(65.1	)
Change in fair value recognized in the statement of operations		(61.2	)
Translation adjustments recognized in other comprehensive income		0.3
Balance June 30, 2018	$	14.5

X

- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ 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 (a)
-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 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 3: 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

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- References

No definition available.

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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

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