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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Jun. 30, 2011
FAIR VALUE MEASUREMENTS |
Schedule of assets and liabilities measured at fair value on a recurring basis |
|  |  |  | Fair Value Measurements Using Inputs Considered as |
--- | --- | --- | --- | --- | ---
|  | Fair Value at June 30, 2011 |
|  | Level 1 |  | Level 2 |  | Level 3 |
|  |  |  | (Dollars in thousands) |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |
Non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |
| Derivative instruments |  | $ | 212 |  | $ | — |  | $ | 212 |  | $ | — |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
| Derivative instruments |  | $ | 599 |  | $ | — |  | $ | 599 |  | $ | — |
Non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
| Equity put option |  | $ | 22,700 |  | $ | — |  | $ | — |  | $ | 22,700 |
|  |  |  | Fair Value Measurements Using Inputs Considered as |
--- | --- | --- | --- | --- | ---
|  | Fair Value at June 30, 2010 |
|  | Level 1 |  | Level 2 |  | Level 3 |
|  |  |  | (Dollars in thousands) |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |
Non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |
| Derivative instruments |  | $ | 274 |  | $ | — |  | $ | 274 |  | $ | — |
| Preferred shares |  |  | 3,502 |  |  | — |  |  | — |  |  | 3,502 |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
| Derivative instruments |  | $ | 401 |  | $ | — |  | $ | 401 |  | $ | — |
Non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
| Derivative instruments |  | $ | 1,039 |  | $ | — |  | $ | 1,039 |  | $ | — |
| Equity put option |  |  | 22,009 |  |  | — |  |  | — |  |  | 22,009 |
Schedule of changes in Level 3 financial instruments measured at fair value on a recurring basis |
|  | Changes in Financial Instruments Measured at Level 3 Fair Value Classified as |
--- | --- | --- | ---
|  | Preferred Shares |  | Equity Put Option |
|  | (Dollars in thousands) |
Balance at July 1, 2010 |  | $ | 3,502 |  | $ | 22,009 |
| Total realized and unrealized gains (losses): |  |  |  |  |  |  |
|  | Included in other comprehensive income (loss) |  |  | 433 |  |  | 3,847 |
|  | Included in equity in income (loss) of affiliated companies |  |  | — |  |  | (2,442 | )
|  | Transfer out of Level 3 |  |  | — |  |  | (714 | )
|  | Other than temporary impairment |  |  | (3,935 | ) |  | — |
Balance at June 30, 2011 |  | $ | — |  | $ | 22,700 |
|  | Changes in Financial Instruments Measured at Level 3 Fair Value Classified as |
--- | --- | --- | ---
|  | Preferred Shares |  | Equity Put Option |
|  | (Dollars in thousands) |
Balance at July 1, 2009 |  | $ | — |  | $ | 24,161 |
| Total realized and unrealized gains (losses): |  |  |  |  |  |  |
|  | Additions to Level 3 |  |  | 3,362 |  |  | — |
|  | Included in other comprehensive income (loss) |  |  | 140 |  |  | (2,620 | )
|  | Included in equity in income (loss) of affiliated companies |  |  | — |  |  | 468 |
Balance at June 30, 2010 |  | $ | 3,502 |  | $ | 22,009 |
Schedule of assets and liabilities measured at fair value on a nonrecurring basis |
|  | June 30, 2011 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Losses |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
|  | (Dollars in thousands) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Goodwill—Promenade(1) |  | $ | 240,910 |  | $ | — |  | $ | — |  | $ | 240,910 |  | $ | (74,100 | )
Total |  | $ | 240,910 |  | $ | — |  | $ | — |  | $ | 240,910 |  | $ | (74,100 | )
(1) Goodwill of the Promenade salon concept with a carrying value of $315.0 million was written down to its implied fair value, resulting in an impairment charge of $74.1 million, which was recorded during fiscal year 2011. The Company recorded $0.3 million of translation rate adjustments during the fourth quarter of fiscal year 2011 on the Promenade salon concept goodwill balance.
|  | June 30, 2010 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Losses |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
|  | (Dollars in thousands) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Goodwill—Regis(1) |  | $ | 102,180 |  | $ | — |  | $ | — |  | $ | 102,180 |  | $ | (35,277 | )
Total |  | $ | 102,180 |  | $ | — |  | $ | — |  | $ | 102,180 |  | $ | (35,277 | )
(1) Goodwill of the Regis salon concept with a carrying value of $136.6 million was written down to its implied fair value, resulting in an impairment charge of $35.3 million, which was recorded during fiscal year 2010. The Company recorded $0.8 million of translation rate adjustments during the fourth quarter of fiscal year 2010 on the Regis salon concept goodwill balance.

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- Definition Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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, 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, issuances, 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 asset or liability. + Details
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- Definition Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 820 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258 + Details
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