Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Accumulated Other Comprehensive Income

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Note 7 - Accumulated Other Comprehensive Income
 9 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Comprehensive Income (Loss) Note [Text Block]
Note 7.
Accumulated Other Comprehensive Income:
 
Changes in accumulated other comprehensive income (loss), net of tax, for the nine months ended March 31, 2016 consists of (in thousands):
 
 
 
Unrealized
Gains
(Losses) on
Available-
for-Sale
Investments
 
 
Foreign
Currency
Translation
Adjustments
 
 
Total
 
                         
Beginning balance
   $ 14,382     $ (44,975
)
   $ (30,593
)
Other comprehensive income
     (32,605
)
     (13,262
)
     (45,867
)
Ending balance
  $ (18,222
)
   $ (58,257
)
   $ (76,480
)
 
The unrealized loss on available-for-sale investments for the nine months ended March 31, 2016 includes $13.7 million of unrealized gross losses related to our investment in ChemoCentryx, Inc (CCXI). As of March 31, 2016, the stock price of CCXI was $2.49 per share compared to our cost basis of $4.73 per share. Based upon our analysis, we believe there is insufficient information to conclude that the impairment of our investment in CCXI is other-than-temporary. As such, we have concluded that the impairment is temporary and have classified the impairment within other comprehensive income.