XML 40 R28.htm IDEA: XBRL DOCUMENT
v3.10.0.1

INVESTMENTS (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2018
Disclosure Text Block Supplement [Abstract] |
Unrealized Gain (Loss) on Investments [Table Text Block] | The following details the components of the Company’s investments recorded at fair value as of June 30, 2018, and 2017:
|  | June 30, 2018 |
(dollars in thousands) |  | Cost |  |  | Unrealized Gains |  |  | Unrealized (Losses) |  |  | Fair Value |
Trading securities1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds - Fixed income |  | $ | 7,785 |  |  | $ | 22 |  |  | $ | - |  |  | $ | 7,807 |
Mutual funds - Domestic equity |  |  | 535 |  |  |  | - |  |  |  | (163 | ) |  |  | 372 |
Other |  |  | 45 |  |  |  | - |  |  |  | (45 | ) |  |  | - |
Offshore fund |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total trading securities |  |  | 8,365 |  |  |  | 22 |  |  |  | (208 | ) |  |  | 8,179 |
Available-for-sale securities2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock - Domestic |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Common stock - International |  |  | 2,554 |  |  |  | 3,213 |  |  |  | (94 | ) |  |  | 5,673 |
Corporate debt |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Mutual funds - Fixed income |  |  | 1,000 |  |  |  | - |  |  |  | (9 | ) |  |  | 991 |
Mutual funds - Domestic equity |  |  | 394 |  |  |  | 28 |  |  |  | - |  |  |  | 422 |
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total available-for-sale securities3 |  |  | 3,948 |  |  |  | 3,241 |  |  |  | (103 | ) |  |  | 7,086 |
Total securities at fair value |  | $ | 12,313 |  |  | $ | 3,263 |  |  | $ | (311 | ) |  | $ | 15,265 |
|  | June 30, 2017 |
(dollars in thousands) |  | Cost |  |  | Unrealized Gains |  |  | Unrealized (Losses) |  |  | Fair Value |
Trading securities1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds - Fixed income |  | $ | 8,884 |  |  | $ | 50 |  |  | $ | (7 | ) |  | $ | 8,927 |
Mutual funds - Domestic equity |  |  | 535 |  |  |  | - |  |  |  | (157 | ) |  |  | 378 |
Other |  |  | 45 |  |  |  | - |  |  |  | (45 | ) |  |  | - |
Offshore fund |  |  | 1,184 |  |  |  | - |  |  |  | (769 | ) |  |  | 415 |
Total trading securities |  |  | 10,648 |  |  |  | 50 |  |  |  | (978 | ) |  |  | 9,720 |
Available-for-sale securities2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock - Domestic |  |  | 109 |  |  |  | 4 |  |  |  | - |  |  |  | 113 |
Common stock - International |  |  | 191 |  |  |  | 12 |  |  |  | - |  |  |  | 203 |
Corporate debt |  |  | 1,042 |  |  |  | 427 |  |  |  | - |  |  |  | 1,469 |
Mutual funds - Fixed income |  |  | 1,148 |  |  |  | 1 |  |  |  | (5 | ) |  |  | 1,144 |
Mutual funds - Domestic equity |  |  | 394 |  |  |  | 12 |  |  |  | - |  |  |  | 406 |
Other |  |  | 56 |  |  |  | 10 |  |  |  | - |  |  |  | 66 |
Total available-for-sale securities3 |  |  | 2,940 |  |  |  | 466 |  |  |  | (5 | ) |  |  | 3,401 |
Total securities at fair value |  | $ | 13,588 |  |  | $ | 516 |  |  | $ | (983 | ) |  | $ | 13,121 |
1 | Unrealized and realized gains and losses on trading securities are included in earnings in the statement of operations.
2 | Unrealized gains and losses on available-for-sale securities are excluded from earnings and recorded in other comprehensive income (loss) as a separate component of shareholders’ equity until realized.
3 | Net unrealized gains (losses) on available-for-sale securities gross and net of tax as of June 30, 201 8, are $3,138 and $2,089, respectively, and as of June 30, 201 7, are $461 and $461, respectively.
Gain (Loss) on Securities [Table Text Block] | The following summarizes investment income (loss) reflected in earnings for the periods presented.
(dollars in thousands) |  | Year Ended June 30, |
Investment Income |  | 2018 |  |  | 2017 |
Realized gains on sales of available-for-sale securities |  | $ | 669 |  |  | $ | 31 |
Realized losses on sales of trading securities |  |  | (736 | ) |  |  | - |
Unrealized gains on trading securities |  |  | 742 |  |  |  | 15 |
Realized foreign currency losses |  |  | (59 | ) |  |  | (37 | )
Other-than-temporary declines in available-for-sale securities |  |  | - |  |  |  | (411 | )
Other-than-temporary declines in securities held at cost |  |  | - |  |  |  | (72 | )
Dividend and interest income |  |  | 888 |  |  |  | 820 |
Total Investment Income |  | $ | 1,504 |  |  | $ | 346 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | The following summarizes investment income (loss) reflected in earnings for the periods presented.
|  | June 30, 2018 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |  |  | Total |
|  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |
(dollars in thousands) |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
Available-for-sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock - Domestic |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Common stock - International |  |  | 39 |  |  |  | (94 | ) |  |  | - |  |  |  | - |  |  |  | 39 |  |  |  | (94 | )
Corporate debt |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Mutual funds - Fixed income |  |  | 991 |  |  |  | (9 | ) |  |  | - |  |  |  | - |  |  |  | 991 |  |  |  | (9 | )
Mutual funds - Domestic equity |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total available-for-sale securities |  | $ | 1,030 |  |  | $ | (103 | ) |  | $ | - |  |  | $ | - |  |  | $ | 1,030 |  |  | $ | (103 | )
|  | June 30, 2017 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |  |  | Total |
|  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |
(dollars in thousands) |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
Available-for-sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock - Domestic |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Common stock - International |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Corporate debt |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Mutual funds - Fixed income |  |  | - |  |  |  | - |  |  |  | 95 |  |  |  | (5 | ) |  |  | 95 |  |  |  | (5 | )
Mutual funds - Domestic equity |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total available-for-sale securities |  | $ | - |  |  | $ | - |  |  | $ | 95 |  |  | $ | (5 | ) |  | $ | 95 |  |  | $ | (5 | )
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following presents fair value measurements, as of each balance sheet date, for the major categories of U.S. Global’s investments measured at fair value on a recurring basis:
|  | June 30, 2018 |
|  | Quoted Prices |  |  | Significant Other Inputs |  |  | Significant Unobservable Inputs |  |  |  |  |
(dollars in thousands) |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | Total |
Trading securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds - Fixed income |  | $ | 7,807 |  |  | $ | - |  |  | $ | - |  |  | $ | 7,807 |
Mutual funds - Domestic equity |  |  | 372 |  |  |  | - |  |  |  | - |  |  |  | 372 |
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Offshore fund investment measured at net asset value1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Total trading securities |  |  | 8,179 |  |  |  | - |  |  |  | - |  |  |  | 8,179 |
Available-for-sale securities |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock - Domestic |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Common stock - International |  |  | 5,673 |  |  |  | - |  |  |  | - |  |  |  | 5,673 |
Corporate debt |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Mutual funds - Fixed income |  |  | 991 |  |  |  | - |  |  |  | - |  |  |  | 991 |
Mutual funds - Domestic equity |  |  | 422 |  |  |  | - |  |  |  | - |  |  |  | 422 |
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total available-for-sale securities |  |  | 7,086 |  |  |  | - |  |  |  | - |  |  |  | 7,086 |
Total securities at fair value |  | $ | 15,265 |  |  | $ | - |  |  | $ | - |  |  | $ | 15,265 |
|  | June 30, 2017 |
|  | Quoted Prices |  |  | Significant Other Inputs |  |  | Significant Unobservable Inputs |  |  |  |  |
(dollars in thousands) |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | Total |
Trading securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds - Fixed income |  | $ | 8,927 |  |  | $ | - |  |  | $ | - |  |  | $ | 8,927 |
Mutual funds - Domestic equity |  |  | 378 |  |  |  | - |  |  |  | - |  |  |  | 378 |
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Offshore fund investment measured at net asset value1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 415 |
Total trading securities |  |  | 9,305 |  |  |  | - |  |  |  | - |  |  |  | 9,720 |
Available-for-sale securities |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock - Domestic |  |  | 113 |  |  |  | - |  |  |  | - |  |  |  | 113 |
Common stock - International |  |  | 203 |  |  |  | - |  |  |  | - |  |  |  | 203 |
Corporate debt |  |  | 1,469 |  |  |  | - |  |  |  | - |  |  |  | 1,469 |
Mutual funds - Fixed income |  |  | 1,144 |  |  |  | - |  |  |  | - |  |  |  | 1,144 |
Mutual funds - Domestic equity |  |  | 406 |  |  |  | - |  |  |  | - |  |  |  | 406 |
Other |  |  | 66 |  |  |  | - |  |  |  | - |  |  |  | 66 |
Total available-for-sale securities |  |  | 3,401 |  |  |  | - |  |  |  | - |  |  |  | 3,401 |
Total securities at fair value |  | $ | 12,706 |  |  | $ | - |  |  | $ | - |  |  | $ | 13,121 |
1 | In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical ex p edient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Balance Sheets.
Equity Method Investments [Table Text Block] | Summarized income statement information on the Galileo Partners Fund for the period of the Company’s investment is as follows:
Galileo Partners Fund |  |  |  |
Summary Financial Information |  |  |  |
For the Period from August 31, 2017 (investment) to June 30, 2018 |
(dollars in thousands) |  |  |  |
Realized gains on sales of investments |  | $ | 6,254 |
Decrease in unrealized gains on investments |  |  | (28 | )
Fund fees and expenses, including performance fees |  |  | (1,677 | )
Net income of fund |  | $ | 4,549 |

X
- Definition Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockSupplementAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://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 2: 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 Reference 3: 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 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of realized and unrealized gain (loss) on investment in security. + References No definition available. + Details
Name: | us-gaap_GainLossOnInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of unrealized gains and losses on investments. + References No definition available. + Details
Name: | us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration