Held-to-maturity Securities

6 Months Ended

Dec. 31, 2012

Held-to-maturity Securities

Note 6—Held-to-maturity Securities

The Company’s investment securities classified as held-to-maturity consist of high-grade debt instruments. These investments are carried at amortized cost. Gross unrecognized holding gains and losses, and fair values of these securities at December 31, 2012 and June 30, 2012 are as follows (in thousands):

	December 31, 2012								June 30, 2012
	Amortized Cost		Gross Unrecognized Holding				Aggregate Fair Value		Amortized Cost		Gross Unrecognized Holding				Aggregate Fair Value
			Gains		Losses						Gains		Losses
Current	$	—	$	—	$	—	$	—	$	706	$	4	$	—	$	710
Long-Term		509		15		—		524		512		20		—		532
Total	$	509	$	15	$	—	$	524	$	1,218	$	24	$	—	$	1,242

The fair value of investments in held-to-maturity securities is valued under the market approach through the use of quoted prices for similar investments in active markets, a Level 2 fair value measurement. See Note 4, Fair Value Measurements, for the three-level valuation hierarchy.

The contractual maturities of the investment securities classified as held-to-maturity at December 31, 2012 are as follows (in thousands):

Contractual Maturities	Amortized Cost		Aggregate Fair Value		Weighted- Average Interest Rate
Less than 1 year	$	—	$	—		0	%
Due after 1 year through 3 years		509		524		2.66	%
Total	$	509	$	524		2.66	%