Marketable Investment Securities |
(2) |
Marketable Investment
Securities |
The Company has
classified its marketable investment securities as
available-for-sale securities. These securities are carried at
estimated fair value with unrealized holding gains and losses, net
of the related tax effect, included in accumulated other
comprehensive loss in stockholders’ equity until realized.
Gains and losses on investment security transactions are reported
on the specific-identification method. Dividend and interest income
are recognized when earned. The amortized cost, gross unrealized
holding gains, gross unrealized holding losses, and fair value for
available-for-sale securities by major security type and class of
security at September 30, 2014 and June 30, 2014 were as
follows:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Gross |
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|
Gross |
|
|
|
|
|
|
|
|
|
unrealized |
|
|
unrealized |
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|
|
|
|
|
Amortized |
|
|
holding |
|
|
holding |
|
|
Estimated |
|
(In thousands) |
|
cost |
|
|
gains |
|
|
losses |
|
|
fair value |
|
At September 30,
2014:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
|
|
$ |
63,238 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
63,238 |
|
Cash equivalents
|
|
|
6,565 |
|
|
|
— |
|
|
|
— |
|
|
|
6,565 |
|
Restricted cash
|
|
|
22,674 |
|
|
|
— |
|
|
|
— |
|
|
|
22,674 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash , cash
equivalents and restricted cash
|
|
|
92,477 |
|
|
|
— |
|
|
|
— |
|
|
|
92,477 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-sale
securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds and
notes
|
|
|
43,157 |
|
|
|
21 |
|
|
|
(18 |
) |
|
|
43,160 |
|
Municipal bonds
|
|
|
85,412 |
|
|
|
225 |
|
|
|
(3 |
) |
|
|
85,634 |
|
Federal agency
issues
|
|
|
15,081 |
|
|
|
8 |
|
|
|
(3 |
) |
|
|
15,086 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total available-for-sale
securities
|
|
|
143,650 |
|
|
|
254 |
|
|
|
(24 |
) |
|
|
143,880 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash, cash
equivalents and available-for-sale securities
|
|
$ |
236,127 |
|
|
$ |
254 |
|
|
$ |
(24 |
) |
|
$ |
236,357 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Gross |
|
|
Gross |
|
|
|
|
|
|
|
|
|
unrealized |
|
|
unrealized |
|
|
|
|
|
|
Amortized |
|
|
holding |
|
|
holding |
|
|
Estimated |
|
(In thousands) |
|
cost |
|
|
gains |
|
|
losses |
|
|
fair
value |
|
At June 30,
2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
|
|
$ |
45,181 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
45,181 |
|
Cash equivalents
|
|
|
19,639 |
|
|
|
1 |
|
|
|
— |
|
|
|
19,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash and cash
equivalents
|
|
|
64,820 |
|
|
|
1 |
|
|
|
— |
|
|
|
64,821 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-sale
securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds and
notes
|
|
|
44,449 |
|
|
|
36 |
|
|
|
(11 |
) |
|
|
44,474 |
|
Municipal bonds
|
|
|
137,821 |
|
|
|
334 |
|
|
|
(3 |
) |
|
|
138,152 |
|
Federal agency
issues
|
|
|
23,134 |
|
|
|
12 |
|
|
|
(7 |
) |
|
|
23,139 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total available-for-sale
securities
|
|
|
205,404 |
|
|
|
382 |
|
|
|
(21 |
) |
|
|
205,765 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash, cash
equivalents and available-for-sale securities
|
|
$ |
270,224 |
|
|
$ |
383 |
|
|
$ |
(21 |
) |
|
$ |
270,586 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash, cash
equivalents, restricted cash, and maturities of debt securities
classified as available-for-sale securities are as follows at
September 30, 2014:
|
|
|
|
|
|
|
|
|
|
|
Amortized |
|
|
Estimated |
|
(In thousands) |
|
cost |
|
|
fair value |
|
Cash
|
|
$ |
63,238 |
|
|
$ |
63,238 |
|
Cash equivalents
|
|
|
6,565 |
|
|
|
6,565 |
|
Restricted cash
|
|
|
22,674 |
|
|
|
22,674 |
|
Available-for-sale:
|
|
|
|
|
|
|
|
|
Due within one
year
|
|
|
89,722 |
|
|
|
89,807 |
|
Due after one year through
five years
|
|
|
53,928 |
|
|
|
54,073 |
|
Due after five
years
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
236,127 |
|
|
$ |
236,357 |
|
|
|
|
|
|
|
|
|
|
The Company has
restricted cash of $22.7 million at September 30, 2014.
Restricted cash consists of a pledged account for a specific
contractual arrangement and is subject to certain contingences that
must be met in the future.
|