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Investments and Derivative Instruments | 3 Months Ended
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Sep. 30, 2012
Investments, Fair Value and Derivatives [Abstract] |
Investments and Derivative Instruments | Investments and Derivative Instruments The Company purchases various derivative instruments as investments or to create economic hedges of its interest rate risk and commodity price risk. At September 30, 2012 and 2011, derivative instruments were not designated as accounting hedges as defined by ASC 815, “Accounting for Derivative Instruments and Hedging Activities.” The fair value of derivative instruments is based upon broker quotes. The Company records unrealized gains and losses on trading securities and changes in the market value of certain coffee contracts meeting the definition of derivatives in "Other, net" in the consolidated statements of operations. The Company groups its assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are:
• | Level 1—Valuation is based upon quoted prices for identical instruments traded in active markets.
• | Level 2—Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.
• | Level 3—Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.
Assets and liabilities measured and recorded at fair value on a recurring basis were as follows (in thousands):
As of September 30, 2012 (Unaudited) |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Preferred stock(1) |  | $ | 20,214 |  |  | $ | 14,856 |  |  | $ | 5,358 |  |  | $ | — |
Futures, options and other derivative assets(1) |  | $ | 377 |  |  | $ | — |  |  | $ | 377 |  |  | $ | — |
Derivative liabilities |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
As of June 30, 2012 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Preferred stock(1) |  | $ | 19,395 |  |  | $ | 14,078 |  |  | $ | 5,317 |  |  | $ | — |
Futures, options and other derivatives(1) |  | $ | 1,626 |  |  | $ | — |  |  | $ | 1,626 |  |  | $ | — |
Derivative liabilities(2) |  | $ | 410 |  |  | $ | — |  |  | $ | 410 |  |  | $ | — |
____________________ (1) Included in "Short-term investments" on the consolidated balance sheets. (2) Included in "Accounts payable" on the consolidated balance sheet. There were no significant transfers of securities between Level 1 and Level 2. Gains and losses, both realized and unrealized, are included in "Other, net" on the statement of operations and in the "Net (gain) loss on investments" in the consolidated statements of cash flows. Net realized and unrealized gains and losses are as follows:
|  | Three Months Ended
|  | September 30,
(In thousands) |  | 2012 |  | 2011
|  | (Unaudited)
Coffee-related derivatives: |  |  |  |
Unrealized gains |  | $ | 1,157 |  |  | $ | — |
Unrealized losses |  | (10 | ) |  | (2,740 | )
Realized gains |  | 381 |  |  | 59 |
Realized losses |  | (825 | ) |  | (1,012 | )
Net realized and unrealized gains (losses) |  | 703 |  |  | (3,693 | )
Net gains (losses) from sales of assets |  | 3,213 |  |  | (98 | )
Other gains, net |  | 1,029 |  |  | 1,384 |
Other, net |  | $ | 4,945 |  |  | $ | (2,407 | )
Preferred stock investments as of September 30, 2012 consisted of securities with a fair value of $18.4 million in an unrealized gain position and securities with a fair value of $1.8 million in an unrealized loss position. Preferred stock investments as of June 30, 2012 consisted of securities with a fair value of $16.5 million in an unrealized gain position and securities with a fair value of $2.9 million in an unrealized loss position. The following tables show gross unrealized losses (although such losses have been recognized in the consolidated statements of operations) and fair value for those investments that were in an unrealized loss position as of September 30, 2012 and June 30, 2012, aggregated by the length of time those investments have been in a continuous loss position:
|  | September 30, 2012 (Unaudited)
|  | Less than 12 Months |  | Total
(In thousands) |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Preferred stock |  | $ | 445 |  |  | $ | (3 | ) |  | $ | 1,806 |  |  | $ | (46 | )
|  | June 30, 2012
|  | Less than 12 Months |  | Total
(In thousands) |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Preferred stock |  | $ | 1,750 |  |  | $ | (16 | ) |  | $ | 2,891 |  |  | $ | (40 | )

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- Definition The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80784-113994 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624181-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708775-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41635-113959 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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