v2.4.0.6
Fair Value Measurements
 12 Months Ended
Jun. 30, 2012
Fair Value Measurements [Abstract]  
Fair Value Measurements
(2) Fair Value Measurements

Fair Value of Financial Instruments

Cash, cash equivalents, short-term investments, accounts receivable, accounts payable, accrued expenses, and short-term notes payable, as reported in the consolidated financial statements, approximate their fair value because of the short-term maturity of those instruments. The fair value of the Company’s long-term debt is based on the present value of expected cash flows, considering expected maturities and using current interest rates available to the Company for borrowings with similar terms. The carrying amount of the Company’s long-term debt approximates its fair value. The fair value of the Company’s long-term debt is disclosed in Note (6).

The following table presents assets and liabilities that were measured at fair value on a recurring basis at June 30, 2012:

 

 

                                 
          Fair Value Measurements at Reporting Date Using:  
         

Quoted Prices

in Active

Markets for

Identical

Assets

    

Significant

Other

Observable

Inputs

    

Significant

Unobservable

Inputs

  
    Carrying Amount     (Level 1)     (Level 2)     (Level 3)  

Assets:

                                

Available-for-sale securities

   $ 17,145       —       $ 17,145       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 17,145       —       $ 17,145       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

                                

Interest rate contract

   $ 472       —       $ 472       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 472       —       $ 472       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

The following table presents assets and liabilities that were measured at fair value on a recurring basis at July 2, 2011:

 

                                 
          Fair Value Measurements at Reporting Date Using:  
         

Quoted Prices

in Active

Markets for

Identical

Assets

    

Significant

Other

Observable

Inputs

    

Significant

Unobservable

Inputs

  
    Carrying Amount     (Level 1)     (Level 2)     (Level 3)  

Assets:

                                

Available-for-sale securities

   $ 12,073       —       $ 12,073       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 12,073       —       $ 12,073       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

                                

Interest rate contract

   $ 268       —       $ 268       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 268       —       $ 268       —