XML 32 R23.htm IDEA: XBRL DOCUMENT
v3.10.0.1

INVESTMENTS (Tables) | 3 Months Ended
--- | ---
Sep. 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 September 30, 2018, and June 30, 2018. Note that the change in presentation is the result of the adoption of ASU 2016-01.
|  | September 30, 2018 |
(dollars in thousands) |  | Cost |  |  | Unrealized Gains (Losses) |  |  | Fair Value |
Securities at fair value1 |  |  |  |  |  |  |  |  |  |  |  |
Common stock - International |  | $ | 2,554 |  |  | $ | 2,151 |  |  | $ | 4,705 |
Common stock - Domestic |  |  | 45 |  |  |  | (45 | ) |  |  | - |
Mutual funds - Fixed income |  |  | 8,785 |  |  |  | 5 |  |  |  | 8,790 |
Mutual funds - Domestic equity |  |  | 929 |  |  |  | (109 | ) |  |  | 820 |
Total securities at fair value |  | $ | 12,313 |  |  | $ | 2,002 |  |  | $ | 14,315 |
|  | 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 | ) |  |  | - |
Total trading securities |  |  | 8,365 |  |  |  | 22 |  |  |  | (208 | ) |  |  | 8,179 |
Available-for-sale securities2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock - International |  |  | 2,554 |  |  |  | 3,213 |  |  |  | (94 | ) |  |  | 5,673 |
Mutual funds - Fixed income |  |  | 1,000 |  |  |  | - |  |  |  | (9 | ) |  |  | 991 |
Mutual funds - Domestic equity |  |  | 394 |  |  |  | 28 |  |  |  | - |  |  |  | 422 |
Total available-for-sale securities3 |  |  | 3,948 |  |  |  | 3,241 |  |  |  | (103 | ) |  |  | 7,086 |
Total securities at fair value |  | $ | 12,313 |  |  | $ | 3,263 |  |  | $ | (311 | ) |  | $ | 15,265 |
1 | Changes in u nrealized and realized gains and losses on securities at fair value are included in earnings in the statement of operations.
1 | Prior to July 1, 2018, changes in u nrealized and realized gains and losses on trading securities were included in earnings in the statement of operations.
2 | Prior to July 1, 2018, changes in u nrealized gains and losses on available-for-sale securities were excluded from earnings and recorded in other comprehensive income as a separate component of shareholders’ equity until realized.
3 | Net unrealized gains on available-for-sale securities gross and net of tax as of June 3 0, 201 8, were $3,138 and $2,089, respectively.
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | The following table shows the gross unrealized losses and fair values of available-for-sale investment securities with unrealized losses aggregated by investment category and length of time that individual securities were in a continuous unrealized loss position as of June 30, 2018. No disclosures are required as of September 30, 2018, due the adoption of ASU 2016-01.
|  | June 30, 2018 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |  |  | Total |
|  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |
|  |  |  |  |  | Unrealized |  |  |  |  |  |  | Unrealized |  |  |  |  |  |  | Unrealized |
(dollars in thousands) |  | Fair Value |  |  | Losses |  |  | Fair Value |  |  | Losses |  |  | Fair Value |  |  | Losses |
Available-for-sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock - International |  | $ | 39 |  |  | $ | (94 | ) |  | $ | - |  |  | $ | - |  |  | $ | 39 |  |  | $ | (94 | )
Mutual funds - Fixed income |  |  | 991 |  |  |  | (9 | ) |  |  | - |  |  |  | - |  |  |  | 991 |  |  |  | (9 | )
Total available-for-sale securities with unrealized losses |  | $ | 1,030 |  |  | $ | (103 | ) |  | $ | - |  |  | $ | - |  |  | $ | 1,030 |  |  | $ | (103 | )
Gain (Loss) on Securities [Table Text Block] | The following summarizes investment income (loss) reflected in earnings:
|  | Three Months Ended |
(dollars in thousands) |  | September 30, |
Investment Income (Loss) |  | 2018 |  |  | 2017 |
Realized losses on sales of fair valued securities 1 |  | $ | - |  |  | $ | (647 | )
Unrealized gains (losses) on fair valued securities 2 |  |  | (951 | ) |  |  | 686 |
Realized foreign currency gains (losses) |  |  | 2 |  |  |  | (22 | )
Impairments in equity investments that do not have readily determinable fair values |  |  | (29 | ) |  |  | - |
Dividend and interest income |  |  | 71 |  |  |  | 192 |
Total Investment Income (Loss) |  | $ | (907 | ) |  | $ | 209 |
1 | The p rior year amount shown includes $654 in realized losses on sales of trading securities and $7 in realized gains on sales of available-for-sale securities for the three months ended September 30, 2017. These classifications were used prior to the adoption of ASU 2016-01 effective July 1, 2018.
2 | The prior year amount shown includes $686 in unrealized gains on trading securities for the three months ended September 30, 2017 (classification used prior to the adoption of ASU 2016-01 effective July 1, 2018).
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following presents fair value measurements, as of September 30, 2018, and June 30, 2018, for the major categories of U.S. Global’s investments measured at fair value on a recurring basis:
|  | September 30, 2018 |
|  | Quoted Prices |  |  | Significant Other Inputs |  |  | Significant Unobservable Inputs |  |  |
(dollars in thousands) |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | Total |
Securities at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock - International |  | $ | 4,705 |  |  | $ | - |  |  | $ | - |  |  | $ | 4,705 |
Common stock - Domestic |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Mutual funds - Fixed income |  |  | 8,790 |  |  |  | - |  |  |  | - |  |  |  | 8,790 |
Mutual funds - Domestic equity |  |  | 820 |  |  |  | - |  |  |  | - |  |  |  | 820 |
Total securities at fair value |  | $ | 14,315 |  |  | $ | - |  |  | $ | - |  |  | $ | 14,315 |
|  | 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 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total trading securities |  |  | 8,179 |  |  |  | - |  |  |  | - |  |  |  | 8,179 |
Available-for-sale securities |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock - International |  |  | 5,673 |  |  |  | - |  |  |  | - |  |  |  | 5,673 |
Mutual funds - Fixed income |  |  | 991 |  |  |  | - |  |  |  | - |  |  |  | 991 |
Mutual funds - Domestic equity |  |  | 422 |  |  |  | - |  |  |  | - |  |  |  | 422 |
Total available-for-sale securities |  |  | 7,086 |  |  |  | - |  |  |  | - |  |  |  | 7,086 |
Total securities at fair value |  | $ | 15,265 |  |  | $ | - |  |  | $ | - |  |  | $ | 15,265 |
Equity Method Investments [Table Text Block] | Summarized income statement information on the Galileo Partners Fund for the period of the Company’s investment through September 30, 2017, is as follows:
Galileo Partners Fund |  |  |  |
Summary Financial Information |  |  |  |
For the Period from August 31, 2017 (investment) to September 30, 2017 |
(dollars in thousands) |  |  |  |
Realized gains on sales of investments |  | $ | 154 |
Unrealized gains on investments |  |  | 6,102 |
Fund fees and expenses, including performance fees |  |  | (1,432 | )
Net income of fund |  | $ | 4,824 |
Company's share of income from equity method investment |  | $ | 1,513 |

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