Fair Value of Financial Instruments (Tables)

3 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value

The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis as of September 30, 2017:

	Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(in thousands)
Assets:
Deferred compensation plan investments, current and non-current portion	$	22,619	$	22,619	$	—	$	—
Forward foreign currency exchange contracts	128		—		128		—
Interest rate swap agreement	67		—		67		—
Total assets at fair value	$	22,814	$	22,619	$	195	$	—
Liabilities:
Deferred compensation plan investments, current and non-current portion	$	22,619	$	22,619	$	—	$	—
Forward foreign currency exchange contracts	66		—		66		—
Liability for contingent consideration, current and non-current portion	103,493		—		—		103,493
Total liabilities at fair value	$	126,178	$	22,619	$	66	$	103,493

The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis as of June 30, 2017:

	Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(in thousands)
Assets:
Deferred compensation plan investments, current and non-current portion	$	21,439	$	21,439	$	—	$	—
Forward foreign currency exchange contracts	35		—		35		—
Interest rate swap agreement	21		—		21		—
Total assets at fair value	$	21,495	$	21,439	$	56	$	—
Liabilities:
Deferred compensation plan investments, current and non-current portion	$	21,074	$	21,074	$	—	$	—
Forward foreign currency exchange contracts	131		—		131		—
Liability for contingent consideration, current and non-current portion	114,036		—		—		114,036
Total liabilities at fair value	$	135,241	$	21,074	$	131	$	114,036

Schedule of Changes in Fair Value of Contingent Considerations

The table below provides a summary of the changes in fair value of the Company’s contingent considerations (Level 3) for the Network1, Intelisys and POS Portal earnouts for the quarter ended September 30, 2017:

	Contingent consideration for the quarter ended
	September 30, 2017
	Barcode, Networking & Security Segment		Communications & Services Segment
	(in thousands)
Fair value at beginning of period	$	—	$	114,036
Issuance of contingent consideration	13,098		—
Payments	—		(40,858		)
Change in fair value of contingent consideration	69		16,812
Foreign currency translation adjustment	—		336
Fair value at end of period	$	13,167	$	90,326

The table below provides a summary of the changes in fair value of the Company’s contingent considerations (Level 3) for the Imago, Network1 and Intelisys earnouts for the quarter ended September 30, 2016. The contingent consideration due to the former shareholders of Imago was paid in full during the quarter ended December 31, 2016.

	Contingent consideration for the quarter ended
	September 30, 2016
	Barcode, Networking & Security Segment		Communications & Services Segment
	(in thousands)
Fair value at beginning of period	$	—	$	24,652
Issuance of contingent consideration	—		95,000
Payments	—		(8,634		)
Change in fair value of contingent consideration	—		169
Foreign currency translation adjustment	—		(352		)
Fair value at end of period	$	—	$	110,835

Valuation techniques and significant observable inputs used in recurring Level 3 fair value measurements for our contingent consideration liabilities as of September 30, 2017 and June 30, 2017 were as follows.

Reporting Period	Valuation Technique	Significant Unobservable Inputs	Weighted Average Rates
September 30, 2017	Discounted cash flow	Weighted average cost of capital	14.3	%
		Adjusted EBITDA growth rate	17.6	%
June 30, 2017	Discounted cash flow	Weighted average cost of capital	14.2	%
		Adjusted EBITDA growth rate	17.0	%