The Company values its inventory at lower of cost or net realizable value. Cost is computed using standard cost, which approximates actual cost, on a first-in, first-out basis. The Company adjusts the carrying value of its inventory when conditions exist that suggest that inventory may be in excess of anticipated demand or is obsolete based upon assumptions about future demand. At the point of the loss recognition, a new, lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis. Any written down or obsolete inventory subsequently sold has not had a material impact on gross margin for any of the periods presented.

	December 31, 2019		June 30, 2019
Finished goods	$	62,116	$	49,492
Raw materials		17,548		14,097
Total Inventories	$	79,664	$	63,589

	December 31, 2019			June 30, 2019
Computers and equipment	$	74,694		$	72,309
Purchased software		32,199			29,126
Office equipment, furniture and fixtures		11,453			10,815
Leasehold improvements		52,499			51,245
Total property and equipment		170,845			163,495
Less: accumulated depreciation and amortization		(102,907	)		(89,941	)
Property and equipment, net	$	67,938		$	73,554

Deferred revenue represents amounts for (i) deferred maintenance and support revenue (ii) deferred SaaS revenue, and (iii) other deferred revenue including professional services and training when the revenue recognition criteria have not been met.

The majority of the Company’s hardware products are shipped with either a one-year warranty or a limited lifetime warranty, and software products receive a 90-day warranty for media only. Upon shipment of products to its customers, the Company estimates expenses for the cost to repair or replace products that may be returned under warranty and accrues a liability in cost of product revenue for this amount. The determination of the Company’s warranty requirements is based on actual historical experience with the product or product family, estimates of repair and replacement costs and any product warranty problems that are identified after shipment. The Company estimates and adjusts these accruals at each balance sheet date in accordance with changes in these factors.

The following table summarizes the activity related to the Company’s product warranty liability during the three and six months ended December 31, 2019 and 2018 (in thousands):

	Three Months Ended						Six Months Ended
	December 31, 2019			December 31, 2018			December 31, 2019			December 31, 2018
Balance beginning of period	$	15,988		$	12,601		$	14,779		$	12,807
Warranties assumed due to acquisitions		—			—			570			—
New warranties issued		5,539			4,145			11,461			7,867
Warranty expenditures		(5,318	)		(3,938	)		(10,601	)		(7,866	)
Balance end of period	$	16,209		$	12,808		$	16,209		$	12,808

To facilitate sales of its products in the normal course of business, the Company indemnifies its resellers and end-user customers with respect to certain matters. The Company has agreed to hold the customer harmless against losses arising from a breach of intellectual property infringement or other. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. It is not possible to estimate the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material impact on its operating results or financial position.

	December 31, 2019		June 30, 2019
Acquisition related deferred payments, less current portion	$	7,741	$	9,604
Contingent consideration obligations, less current portion		930		2,688
Other contractual obligations, less current portion		22,529		26,261
Other		3,039		15,597
Total other long-term liabilities	$	34,239	$	54,150

The Company may be subject to concentration of credit risk as a result of certain financial instruments consisting of accounts receivable and short-term investments. The Company does not invest an amount exceeding 10% of its combined cash or cash equivalents in the securities of any one obligor or maker, except for obligations of the United States government, obligations of United States government agencies and money market accounts.