Note 15.

Other Accrued Liabilities

The components of other accrued liabilities were as follows:

Year Ended June 30,	2015		2014
($000)
Deferred revenue		8,767		4,318
Warranty reserve		3,251		2,859
Acquisition holdbacks	$	-	$	10,000
Other accrued liabilities		12,558		14,344
	$	24,576	$	31,521

In June 2013, the Company received notice from the noncontrolling interest holder of II-VI HIGHYAG of its intention to exercise a put option. The value of the put option was calculated using a formulaic model based upon earnings before interest, income taxes, depreciation and amortization (EBITDA), revenue growth and other variables. The price for the 25.07% noncontrolling interest the Company did not already own was $7.6 million; in addition, a dividend of $1.0 million also was declared and was paid to the noncontrolling interest holder in fiscal year 2014. These amounts were paid in August 2013.

Changes in the carrying amount of the Company’s redeemable noncontrolling interest were as follows:

Year Ended June 30,	2015		2014		2013
($000)
Balance at Beginning of Year	$	-	$	-	$	5,160
Net earnings attributable to redeemable noncontrolling interest		-		-		1,118
Other changes		-		-		(585	)
Redemption value adjustment to redeemable noncontrolling interest		-		-		2,875
Reclassification of redeemable noncontrolling interest to Other accrued liabilities		-		-		(8,568	)
Balance at End of Year	$	-	$	-	$	-

The following table summarizes the change in the carrying value of the company’s warranty reserve included in Other Accrued Liabilities as of and for the year ended June 30, 2015.

Year Ended June 30,	2015
($000)
Balance-Beginning of Year	$	2,859
Settlements during the period		(4,655	)
Additional warranty liability recorded		5,047
Balance-End of Year	$	3,251