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Marketable Investment Securities

9 Months Ended

Mar. 31, 2019

Investments Debt And Equity Securities [Abstract]

Marketable Investment Securities

(4) MARKETABLE INVESTMENT SECURITIES

The Company has classified its marketable investment securities, all of which are debt securities, as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses, net of the related tax effect, included in accumulated other comprehensive loss in stockholders’ equity until realized. Gains and losses on investment security transactions are reported on the specific-identification method. Dividend and interest income are recognized when earned. The Company’s cash equivalents consist of short-term, highly liquid investments that are readily convertible to known amounts of cash.  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 March 31, 2019 and June 30, 2018 were as follows:

						Gross				Gross
						unrealized				unrealized
		Amortized				holding				holding				Estimated
		cost				gains				losses				fair value
At March 31, 2019:
Cash and cash equivalents:
Cash		$	70.3			$	—			$	—			$	70.3
Cash equivalents			14.6				—				—			$	14.6
Total cash and cash equivalents			84.9				—				—				84.9
Available-for-sale:
Corporate bonds and notes			67.5				0.2				(0.1	)			67.6
Municipal bonds			18.1				—				—				18.1
Federal agency issues			12.1				—								12.1
US government securities			7.3				—				—				7.3
Total		$	189.9			$	0.2			$	(0.1	)		$	190.0

						Gross				Gross
						unrealized				unrealized
		Amortized				holding				holding				Estimated
		cost				gains				losses				fair value
At June 30, 2018:
Cash and cash equivalents:
Cash		$	95.6			$	—			$	—			$	95.6
Cash equivalents			15.3				—				—				15.3
Total cash and cash equivalents			110.9				—				—				110.9
Available-for-sale:
Corporate bonds and notes			50.8				—				(0.3	)			50.5
Municipal bonds			29.3				—				(0.1	)			29.2
Federal agency issues			12.6				—				(0.1	)			12.5
US government securities			8.3				—				(0.1	)			8.2
Total		$	211.9			$	—			$	(0.6	)		$	211.3

Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities are as follows at March 31, 2019:

		Amortized				Estimated
		cost				fair value
Cash		$	70.3			$	70.3
Cash equivalents			14.6				14.6
Available-for-sale:
Due within one year			66.3				66.2
Due after one year through five years			38.7				38.9
Due after five years			—				—
Total		$	189.9			$	190.0

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2176304

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