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Fair Value Measurements (Tables)

6 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on Recurring and Non-recurring Basis

The assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized in the tables below:

		Fair Value as of December 31, 2020
		Level 1				Level 2				Level 3				Total
Assets:
Investment in GECC		$	19,532			$	-			$	-			$	19,532
Equity investments of Consolidated Fund		$	3,417			$	-			$	-			$	3,417
Total assets		$	22,949			$	-			$	-			$	22,949
Liabilities:
Participation feature of HC LLC Series A-2 Preferred Stock		$	-			$	-			$	-			$	-
Total liabilities		$	-			$	-			$	-			$	-

		Fair Value as of June 30, 2020
(in thousands)		Level 1				Level 2				Level 3				Total
Assets:
Investment in GECC		$	8,705			$	-			$	-			$	8,705
Total assets		$	8,705			$	-			$	-			$	8,705
Liabilities:
Contingent consideration liability		$	-			$	-			$	-			$	-
Total liabilities		$	-			$	-			$	-			$	-

Reconciliation of Changes in Contingent Consideration, Level 3 Liability

The following is a reconciliation of changes in contingent consideration, a Level 3 liability, for the three and six months ended December 31, 2020:

		For the six months ended December 31,
(in thousands)		2020				2019
Beginning balance		$	-			$	1,135
Additions			-				-
Payments			-				-
Change in fair value			-				(1,135	)
Ending balance		$	-			$	-

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are 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. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ 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 (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- 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
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-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

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