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Fair Value Measurement | 6 Months Ended
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Dec. 31, 2016
Fair Value Disclosures [Abstract] |
Fair Value Measurement | Fair Value Measurement The accounting standard for fair value measurements defines fair value, establishes a market-based framework or hierarchy for measuring fair value, and expands disclosures about fair value measurements. The standard is applicable whenever assets and liabilities are measured and included in the financial statements at fair value. The fair value hierarchy established in the standard prioritizes the inputs used in valuation techniques into three levels as follows: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. The following tables present the carrying amounts, estimated fair values, and valuation input levels of certain financial instruments as of December 31, 2016, and June 30, 2016:
|  | December 31, 2016
|  | Carrying |  | Fair Value Measured Using |  | Fair
(in thousands) |  | Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Value
Available-for-Sale Securities |  |  |  |  |  |  |  |  |  |
Mutual Funds - Corporate & Government Debt |  | $ | 9,025 |  |  | $ | 9,025 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,025 |
Held-to-Maturity Securities |  |  |  |  |  |  |  |  |  |
Bonds: 0-1 year |  | 955 |  |  | — |  |  | 954 |  |  | — |  |  | 954 |
Bonds: 1-3 years |  | 2,449 |  |  | — |  |  | 2,439 |  |  | — |  |  | 2,439 |
Bonds: 3-5 years |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Time deposits: 1-90 days |  | 1,002 |  |  | — |  |  | 1,002 |  |  | — |  |  | 1,002 |
Time deposits: 91-360 days |  | 199 |  |  | — |  |  | 199 |  |  | — |  |  | 199 |
Time deposits: over 360 days |  | 799 |  |  | — |  |  | 800 |  |  | — |  |  | 800 |
Total |  | $ | 14,429 |  |  | $ | 9,025 |  |  | $ | 5,394 |  |  | $ | — |  |  | $ | 14,419 |
|  | June 30, 2016
|  | Carrying |  | Fair Value Measured Using |  | Fair
(in thousands) |  | Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Value
Available-for-Sale Securities |  |  |  |  |  |  |  |  |  |
Mutual Funds - Corporate & Government Debt |  | $ | 12,807 |  |  | $ | 12,807 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,807 |
Held-to-Maturity Securities |  |  |  |  |  |  |  |  |  |
Bonds: 0-1 year |  | 353 |  |  | — |  |  | 352 |  |  |  |  | 352 |
Bonds: 1-3 years |  | 3,160 |  |  | — |  |  | 3,166 |  |  | — |  |  | 3,166 |
Bonds: 3-5 years |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Time deposits: 1-90 days |  | 2,243 |  |  | — |  |  | 2,244 |  |  | — |  |  | 2,244 |
Time deposits: 91-360 days |  | 1,699 |  |  | — |  |  | 1,703 |  |  | — |  |  | 1,703 |
Time deposits: over 360 days |  | 1,048 |  |  | — |  |  | 1,050 |  |  | — |  |  | 1,050 |
Total |  | $ | 21,310 |  |  | $ | 12,807 |  |  | $ | 8,515 |  |  | $ | — |  |  | $ | 21,322 |
The value of our available-for-sale investments is based on pricing from third-party pricing vendors, who may use quoted prices in active markets for identical assets (Level 1 inputs). Our held-to-maturity investments are recorded at amortized costs, as management’s intent is to hold such investments until maturity. The fair value of our held-to-maturity investments with maturities less than 90 days is considered the amortized value; the fair value measurements used for bonds and time deposits with maturities greater than 90 days is considered Level 2 and uses pricing from third-party pricing vendors who use quoted prices for identical or similar securities in both active and inactive markets.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13537-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13504-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + Details
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