| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
The following tables provide information by level for financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):
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Total |
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carrying |
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value as of |
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Fair Value Measurements Using |
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June 30, |
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Inputs Considered as |
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2022 |
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Level 1 |
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Level 2 |
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Level 3 |
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Assets |
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Exchange traded securities(1) |
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$ |
59,962 |
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$ |
59,962 |
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$ |
— |
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$ |
— |
Certificates of deposit(2) |
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14,500 |
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14,500 |
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— |
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— |
Derivative instruments - cash flow hedges |
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11,026 |
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— |
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11,026 |
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— |
Total assets |
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$ |
85,488 |
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$ |
74,462 |
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$ |
11,026 |
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$ |
— |
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Liabilities |
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Contingent consideration |
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$ |
5,000 |
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$ |
— |
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$ |
— |
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$ |
5,000 |
Derivative instruments - cash flow hedges |
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476 |
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— |
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476 |
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— |
Total liabilities |
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$ |
5,476 |
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$ |
— |
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$ |
476 |
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$ |
5,000 |
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Total |
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carrying |
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value as of |
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Fair Value Measurements Using |
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June 30, |
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Inputs Considered as |
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2021 |
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Level 1 |
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Level 2 |
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Level 3 |
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Assets |
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Exchange traded securities(1) |
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$ |
19,963 |
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$ |
18,581 |
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$ |
1,382 |
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$ |
— |
Certificates of deposit(2) |
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12,500 |
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12,500 |
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— |
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— |
Derivative instruments - cash flow hedges |
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275 |
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— |
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275 |
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— |
Total assets |
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$ |
32,738 |
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$ |
31,081 |
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$ |
1,657 |
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$ |
— |
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Liabilities |
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Contingent consideration |
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$ |
29,400 |
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$ |
— |
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$ |
— |
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$ |
29,400 |
Derivative instruments - cash flow hedges |
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8,376 |
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— |
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8,376 |
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— |
Total liabilities |
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$ |
37,776 |
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$ |
— |
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$ |
8,376 |
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$ |
29,400 |
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(1) |
Included in available-for-sale investments on the balance sheet. The fair value of the Company’s available-for-sale equity investment in CCXI as of June 30, 2022 and June 30, 2021 was $36.0 million and $20.0 million, respectively. The cost basis in the Company’s investment in CCXI at June 30, 2022 and June 30, 2021 was $6.6 million and $6.6 million respectively. The Company exercised the warrant via net share settlement to acquire 66,833 additional shares of CCXI equity shares during the year ended June 30, 2022. The warrant was valued at $1.4 million as of June 30, 2021. The Company also purchased exchange traded investment grade bond funds during the year ended June 30, 2022. The cost basis and fair value of these exchange traded investment grade bond funds as of June 30, 2022 was $25.0 million and $23.9 million, respectively.
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(2) |
Included in available-for-sale investments on the balance sheet. The certificates of deposit have contractual maturity dates within one year. |
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| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
The following table presents a reconciliation of the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in thousands):
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June 30, |
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2022 |
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2021 |
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Fair value at the beginning of period |
$ |
29,400 |
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$ |
6,137 |
Purchase price contingent consideration (Note 4) |
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— |
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18,300 |
Change in fair value of contingent consideration |
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(20,400) |
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5,300 |
Payments |
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(4,000) |
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(337) |
Fair value at the end of period |
$ |
5,000 |
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$ |
29,400 |
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