Aspen Technology 10-K 11 Aug 16 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2016	Aug. 04, 2016	Dec. 31, 2015
Document and Entity Information
Entity Registrant Name	ASPEN TECHNOLOGY INC /DE/
Entity Central Index Key	929,940
Document Type	10-K
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 2,753,103,878
Entity Common Stock, Shares Outstanding		79,737,554
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Revenue:
Subscription and software	$ 440,408	$ 405,640	$ 350,486
Services and other	31,936	34,761	40,967
Total revenue	472,344	440,401	391,453
Cost of revenue:
Subscription and software	20,376	21,165	20,141
Services and other	28,235	28,411	32,547
Total cost of revenue	48,611	49,576	52,688
Gross profit	423,733	390,825	338,765
Operating expenses:
Selling and marketing	91,536	92,736	94,827
Research and development	67,152	69,584	68,410
General and administrative	53,664	48,713	45,804
Total operating expenses	212,352	211,033	209,041
Income from operations	211,381	179,792	129,724
Interest income	441	487	1,124
Interest expense	(1,212)	(30)	(37)
Other income (expense), net	29	(778)	(2,278)
Income before provision for income taxes	210,639	179,471	128,533
Provision for income taxes	70,688	61,064	42,750
Net income	$ 139,951	$ 118,407	$ 85,783
Net income per common share:
Basic (in dollars per share)	$ 1.69	$ 1.34	$ 0.93
Diluted (in dollars per share)	$ 1.68	$ 1.33	$ 0.92
Weighted average shares outstanding:
Basic (in shares)	82,892	88,398	92,648
Diluted (in shares)	83,309	89,016	93,665

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 139,951	$ 118,407	$ 85,783
Other comprehensive income:
Net unrealized gains (losses) on available for sale securities, net of tax effects of $12, $15 and $(32) for fiscal years 2016, 2015 and 2014	22	(29)	59
Foreign currency translation adjustments	(3,841)	(2,873)	2,050
Total other comprehensive (loss) income	(3,819)	(2,902)	2,109
Comprehensive income	$ 136,132	$ 115,505	$ 87,892

CONSOLIDATED STATEMENTS OF COM4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net unrealized gains (losses) on available for sale securities, tax effects	$ 12	$ 15	$ (32)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 318,336	$ 156,249
Short-term marketable securities	3,006	59,197
Accounts receivable, net	20,476	30,721
Prepaid expenses and other current assets	13,948	10,752
Prepaid income taxes	5,557	542
Current deferred tax assets	0	6,169
Total current assets	361,323	263,630
Long-term marketable securities	0	3,047
Property, equipment and leasehold improvements, net	15,825	18,039
Computer software development costs, net	720	1,026
Goodwill	23,438	17,360
Intangible assets, net	5,000	147
Non-current deferred tax assets	12,236	10,444
Other non-current assets	1,196	1,668
Total assets	419,738	315,361
Current liabilities:
Accounts payable	3,559	5,240
Accrued expenses and other current liabilities	36,105	38,483
Income taxes payable	439	1,775
Borrowings under credit agreement	140,000	0
Current deferred revenue	252,520	250,968
Total current liabilities	432,623	296,466
Non-current deferred revenue	29,558	37,919
Other non-current liabilities	32,591	29,522
Commitments and contingencies (Note 12)
Series D redeemable convertible preferred stock, $0.10 par value—Authorized—3,636 shares as of June 30, 2016 and 2015 Issued and outstanding—none as of June 30, 2016 and 2015	0	0
Stockholders' deficit:
Common stock, $0.10 par value—Authorized—210,000,000 shares Issued—102,031,960 shares at June 30, 2016 and 101,607,520 shares at June 30, 2015 Outstanding—80,177,950 shares at June 30, 2016 and 84,504,202 shares at June 30, 2015	10,203	10,161
Additional paid-in capital	659,287	641,883
Accumulated deficit	(5,676)	(145,627)
Accumulated other comprehensive income	2,651	6,470
Treasury stock, at cost—21,854,010 shares of common stock at June 30, 2016 and 17,103,318 shares at June 30, 2015	(741,499)	(561,433)
Total stockholders' deficit	(75,034)	(48,546)
Total liabilities and stockholders' deficit	$ 419,738	$ 315,361

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2016	Jun. 30, 2015
Statement of Financial Position [Abstract]
Series D redeemable convertible preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Series D redeemable convertible preferred stock, authorized	3,636	3,636
Series D redeemable convertible preferred stock, issued	0	0
Series D redeemable convertible preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, authorized	210,000,000	210,000,000
Common stock, issued	102,031,960	101,607,520
Common stock, outstanding	80,177,950	84,504,202
Treasury stock, shares	21,854,010	17,103,318

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' (DEFICIT) EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Treasury Stock
Balance at Jun. 30, 2013	$ 101,898	$ 9,995	$ 575,770	$ (349,817)	$ 7,263	$ (141,313)
Balance (in shares) at Jun. 30, 2013		99,945,545				6,261,776
Comprehensive income (loss):
Net income	85,783			85,783
Other comprehensive income (loss)	2,109				2,109
Exercise of stock options	8,710	$ 72	8,638
Exercise of stock options (in shares)		723,330
Withholding taxes related to restricted stock units net share settlement	(7,831)	$ 36	(7,867)
Withholding taxes related to restricted stock units net share settlement (in shares)		364,865
Repurchase of common stock	$ (121,776)					$ (121,776)
Repurchase of common stock (in shares)	3,110,114					3,110,114
Stock-based compensation	$ 14,056		14,056
Excess tax benefits from stock-based compensation	727		727
Balance at Jun. 30, 2014	83,676	$ 10,103	591,324	(264,034)	9,372	$ (263,089)
Balance (in shares) at Jun. 30, 2014		101,033,740				9,371,890
Comprehensive income (loss):
Net income	118,407			118,407
Other comprehensive income (loss)	(2,902)				(2,902)
Exercise of stock options	4,666	$ 31	4,635
Exercise of stock options (in shares)		308,847
Withholding taxes related to restricted stock units net share settlement	(5,657)	$ 27	(5,684)
Withholding taxes related to restricted stock units net share settlement (in shares)		264,933
Repurchase of common stock	$ (298,344)					$ (298,344)
Repurchase of common stock (in shares)	7,731,428					7,731,428
Stock-based compensation	$ 14,584		14,584
Excess tax benefits from stock-based compensation	37,024		37,024
Balance at Jun. 30, 2015	$ (48,546)	$ 10,161	641,883	(145,627)	6,470	$ (561,433)
Balance (in shares) at Jun. 30, 2015	101,607,520	101,607,520				17,103,318
Comprehensive income (loss):
Net income	$ 139,951			139,951
Other comprehensive income (loss)	(3,819)				(3,819)
Exercise of stock options	3,920	$ 20	3,900
Exercise of stock options (in shares)		201,706
Withholding taxes related to restricted stock units net share settlement	(4,409)	$ 22	(4,431)
Withholding taxes related to restricted stock units net share settlement (in shares)		222,734
Repurchase of common stock	$ (180,066)					$ (180,066)
Repurchase of common stock (in shares)	4,750,692					4,750,692
Stock-based compensation	$ 15,727		15,727
Excess tax benefits from stock-based compensation	2,208		2,208
Balance at Jun. 30, 2016	$ (75,034)	$ 10,203	$ 659,287	$ (5,676)	$ 2,651	$ (741,499)
Balance (in shares) at Jun. 30, 2016	102,031,960	102,031,960				21,854,010

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 139,951	$ 118,407	$ 85,783
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,061	6,216	5,215
Net foreign currency (gain) loss	(3,666)	(1,552)	1,934
Stock-based compensation	15,727	14,584	14,056
Deferred income taxes	2,499	20,112	34,596
Provision for bad debts	260	(513)	1,793
Tax benefits from stock-based compensation	2,208	37,024	727
Excess tax benefits from stock-based compensation	(2,208)	(37,024)	(727)
Other non-cash operating activities	321	1,619	1,847
Changes in assets and liabilities:
Accounts receivable	9,382	8,028	(3,179)
Unbilled services	0	526	301
Prepaid expenses, prepaid income taxes, and other assets	(7,681)	4,070	947
Installment receivables	1,575	(364)	13,607
Accounts payable, accrued expenses and other liabilities	(4,489)	5,933	906
Deferred revenue	(6,196)	14,919	42,325
Net cash provided by operating activities	153,744	191,985	200,131
Cash flows from investing activities:
Purchase of marketable securities	0	(50,065)	(68,356)
Maturities of marketable securities	58,973	85,535	60,265
Purchase of property, equipment and leasehold improvements	(3,483)	(7,645)	(4,011)
Purchase of technology intangibles	0	0	(400)
Payments for business acquisitions	(8,000)	0	0
Capitalized computer software development costs	(269)	(359)	(685)
Net cash provided by (used in) investing activities	47,221	27,466	(13,187)
Cash flows from financing activities:
Exercise of stock options	3,924	4,662	8,710
Repurchases of common stock	(178,604)	(297,246)	(121,776)
Payment of tax withholding obligations related to restricted stock	(4,480)	(5,699)	(7,831)
Excess tax benefits from stock-based compensation	2,208	37,024	727
Proceeds from credit agreement	140,000	0	0
Payments of credit agreement issuance costs	(1,707)	0	0
Net cash used in financing activities	(38,659)	(261,259)	(120,170)
Effect of exchange rate changes on cash and cash equivalents	(219)	(1,469)	320
(Decrease) increase in cash and cash equivalents	162,087	(43,277)	67,094
Cash and cash equivalents, beginning of year	156,249	199,526	132,432
Cash and cash equivalents, end of year	318,336	156,249	199,526
Supplemental disclosure of cash flow information:
Income tax paid, net	69,028	3,712	7,157
Interest paid	963	30	37
Supplemental disclosure of non-cash investing and financing activities:
Change in landlord improvement allowance included in leasehold improvements and deferred rent liability	0	6,064	0
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses	(825)	675	0
Change in common stock repurchases included in accounts payable and accrued expenses	$ 1,462	$ 1,098	$ 0

Operations

Operations	12 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operations	Operations Aspen Technology, Inc., together with its subsidiaries, is a leading global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. Our aspenONE software and related services have been developed specifically for companies in the process industries, which consist of energy, chemicals, engineering and construction, as well as consumer packaged goods, power, metals and mining, pulp and paper, pharmaceuticals and biofuels. Customers use our solutions to improve their competitiveness and profitability by increasing throughput and productivity, reducing operating costs, enhancing capital efficiency, and decreasing working capital requirements. We operate globally in 31 countries as of June 30, 2016 .

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies (a) Principles of Consolidation The accompanying consolidated financial statements include the accounts of Aspen Technology, Inc. and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain line items in prior period financial statements have been reclassified to conform to currently reported presentations. (b) Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. (c) Cash and Cash Equivalents Cash and cash equivalents consist of short-term, highly liquid investments with remaining maturities of three months or less when purchased. (d) Marketable Securities The following table summarizes the fair value, the amortized cost and unrealized holding gains (losses) on our marketable securities as of June 30, 2016 and 2015 : Fair Value Cost Unrealized Gains Unrealized Losses (Dollars in Thousands) June 30, 2016: U.S. corporate bonds with maturities less than one year $ 3,006 $ 3,006 $ — $ — Total short-term marketable securities $ 3,006 $ 3,006 $ — $ — June 30, 2015: U.S. corporate bonds with maturities less than one year $ 59,197 $ 59,223 $ 8 $ (34 ) Total short-term marketable securities $ 59,197 $ 59,223 $ 8 $ (34 ) U.S. corporate bonds with maturities greater than one year $ 3,047 $ 3,055 $ — $ (8 ) Total long-term marketable securities $ 3,047 $ 3,055 $ — $ (8 ) Our marketable securities are classified as available-for-sale and reported at fair value on the consolidated balance sheets. Net unrealized gains (losses) are reported as a separate component of accumulated other comprehensive income, net of tax. Realized gains and losses on investments are recognized in earnings as incurred. Our investments consist primarily of investment grade fixed income corporate debt securities with maturity dates in August 2016 as of June 30, 2016 and ranging from July 2015 through August 2016 as of June 30, 2015 . We review our marketable securities for impairment at each reporting period to determine if any of our securities have experienced an other-than-temporary decline in fair value in accordance with the provisions of ASC Topic 320, Investments—Debt and Equity Securities . We consider factors, such as the length of time and extent to which the market value has been less than the cost, the financial condition and near-term prospects of the issuer, our intent to sell, or whether it is more likely than not we will be required to sell the investment before recovery of its amortized cost basis. If we believe that an other-than-temporary decline in fair value has occurred, we write down the investment to fair value and recognize the credit loss in earnings and the non-credit loss in accumulated other comprehensive income. During fiscal 2016 and 2015 , our marketable securities were not considered other-than-temporarily impaired and, as such, we did not recognize impairment losses during the periods then ended. Unrealized losses are attributable to changes in interest rates. (e) Property and Equipment Property and equipment are stated at cost. We provide for depreciation and amortization, primarily computed using the straight-line method, by charges to operations in amounts estimated to allocate the cost of the assets over their estimated useful lives, as follows: Asset Classification Estimated Useful Life Computer equipment 3 years Purchased software 3 - 5 years Furniture and fixtures 3 - 10 years Leasehold improvements Life of lease or asset, whichever is shorter (f) Revenue Recognition Transition to the aspenONE Licensing Model Prior to fiscal 2010, we offered term or perpetual licenses to specific products, or specifically defined sets of products, which we refer to as point products. The majority of our license revenue was recognized under an "upfront revenue model," in which the net present value of the aggregate license fees was recognized as revenue upon shipment of the point products, provided all revenue recognition criteria were met. Customers typically received one year of post-contract software maintenance and support, or SMS, with their license agreements and then could elect to renew SMS annually. Revenue from SMS was recognized ratably over the period in which the SMS was delivered. In fiscal 2010, we introduced the following changes to our licensing model: (i) We began offering our software on a subscription basis, allowing our customers access to all products within a licensed suite (aspenONE Engineering or aspenONE Manufacturing and Supply Chain). SMS is included for the entire term of the arrangement and customers are entitled to any software products or updates introduced into the licensed suite. We refer to this license arrangement as our aspenONE licensing model. (ii) We began to include SMS for the entire term on our point product term arrangements. In fiscal 2012, we introduced Premier Plus SMS. As part of this offering, customers receive 24x7 support, faster response times, dedicated technical advocates and access to web-based training modules. Premier Plus SMS is exclusively available as a component of our term contract arrangements and we are unable to establish VSOE for this deliverable because we don't offer it on a stand-alone basis. Revenue related to our aspenONE licensing model and point product arrangements with Premier Plus SMS are both recognized over the term of the arrangement on a ratable basis. The changes to our licensing model resulted in a significant reduction to license revenue in fiscal 2010, as compared to fiscal periods preceding our licensing model changes. From fiscal 2010 through fiscal 2015, as customer license arrangements previously executed under the upfront revenue model reached the end of their terms and were renewed under the aspenONE licensing model, we recognized increasing amounts of subscription revenue and deferred revenue. The value of our installed base of software licenses was also growing during this period which further contributed to growth in subscription and deferred revenue. Many of our license arrangements were five or six years in duration when the aspenONE licensing model was introduced at the start of fiscal 2010, and consequently, a number of arrangements executed under the upfront revenue model did not reach the end of their original term until the end of fiscal 2015. The changes to our licensing model did not have any material impact on subscription revenue or deferred revenue for fiscal 2016 and we do not expect any material impact on subscription revenue or deferred revenue for fiscal 2017 and beyond. The changes to our licensing model introduced in fiscal 2010 did not change the method or timing of customer billings or cash collections. In addition, the changes to our licensing model did not impact the incurrence or timing of our expenses. Since there was no corresponding expense reduction to offset the lower revenue during fiscal years 2010-2015, operating income was lower than what would have been reported under a fully transitioned revenue model. Revenue Recognition We generate revenue from the following sources: (1) Subscription and software revenue; and (2) Services and other revenue. Four basic criteria must be satisfied before software license revenue can be recognized: persuasive evidence of an arrangement between us and an end user; delivery of our product has occurred; the fee for the product is fixed or determinable; and collection of the fee is probable. Persuasive evidence of an arrangement —We use a signed contract as evidence of an arrangement for software licenses and SMS. For professional services we use a signed contract and a work proposal to evidence an arrangement. In cases where both a signed contract and a purchase order are required by the customer, we consider both taken together as evidence of the arrangement. Delivery of our product —Software and the corresponding access keys are generally delivered to customers via disk media with standard shipping terms of Free Carrier, our warehouse (i.e., FCA, named place) or electronic delivery. Our software license agreements do not contain conditions for acceptance. Fee is fixed or determinable —We assess whether a fee is fixed or determinable at the outset of the arrangement. Significant judgment is involved in making this assessment. Under our historical upfront revenue model, we are able to demonstrate that the fees are fixed or determinable for all arrangements, including those for our term licenses that contain extended payment terms. We have an established history of collecting under the terms of these contracts without providing concessions to customers. In addition, we also assess whether a contract modification to an existing term arrangement constitutes a concession. In making this assessment, significant analysis is performed to ensure that no concessions are given. Our software license agreements do not include a right of return or exchange. For license arrangements executed under the historical upfront revenue model, we recognize license revenue upon delivery of the software product, provided all other revenue recognition requirements are met. We cannot assert that the fees under our aspenONE licensing model and point product arrangements with Premier Plus SMS are fixed or determinable because the rights provided to customers, and the economics of the arrangements, are not comparable to our transactions with other customers under the upfront revenue model. As a result, the amount of revenue recognized for these arrangements is limited by the amount of customer payments that become due. Collection of fee is probable —We assess the probability of collecting from each customer at the outset of the arrangement based on a number of factors, including the customer's payment history, its current creditworthiness, economic conditions in the customer's industry and geographic location, and general economic conditions. If in our judgment collection of a fee is not probable, revenue is recognized as cash is collected, provided all other conditions for revenue recognition have been met. Vendor-Specific Objective Evidence of Fair Value We have established VSOE for professional services and certain training offerings, but not for our software products or our SMS offerings. We assess VSOE for SMS, professional services, and training, based on an analysis of standalone sales of the offerings using the bell-shaped curve approach. We do not have a history of selling our Premier Plus SMS offering to customers on a standalone basis, and as a result are unable to establish VSOE for this deliverable. As of July 1, 2014, we are no longer able to establish VSOE for legacy SMS offerings sold with our perpetual license arrangements. As of July 1, 2015, we were no longer able to establish VSOE for SMS offerings sold with our legacy term license arrangements. As a result, all perpetual license agreements and legacy term agreements that include legacy SMS entered into subsequent to June 30, 2014 and June 30, 2015, respectively, will be recognized ratably over the legacy SMS service period. Loss of VSOE on legacy SMS offerings sold with our perpetual license and legacy term arrangements did not have a material impact on our revenue in fiscal 2016 and is not expected to have a material impact on our revenue in future periods. We allocate the arrangement consideration among the elements included in our multi-element arrangements using the residual method. Under the residual method, the VSOE of the undelivered elements is deferred and the remaining portion of the arrangement fee is recognized as revenue upon delivery of the software, assuming all other revenue recognition criteria are met. If VSOE does not exist for an undelivered element in an arrangement, revenue is deferred until such evidence does exist for the undelivered elements, or until all elements are delivered, whichever is earlier. Under the historical upfront revenue model, the residual license fee is recognized upon delivery of the software provided all other revenue recognition criteria were met. Arrangements that qualified for upfront recognition during fiscal 2014 and prior periods included sales of perpetual licenses, amendments to existing legacy term arrangements and renewals of legacy term arrangements. Subscription and Software Revenue Subscription and software revenue consists of product and related revenue from our (i) aspenONE licensing model; (ii) point product arrangements with our Premier Plus SMS offering included for the contract term; (iii) legacy arrangements including (a) amendments to existing legacy term arrangements, (b) renewals of legacy term arrangements and (c) legacy arrangements that are being recognized over time as a result of not previously meeting one or more of the requirements for recognition under the upfront revenue model; (iv) legacy SMS arrangements; and (v) perpetual arrangements. When a customer elects to license our products under our aspenONE licensing model, our Premier Plus SMS offering is included for the entire term of the arrangement and the customer receives, for the term of the arrangement, the right to any new unspecified future software products and updates that may be introduced into the licensed aspenONE software suite. Due to our obligation to provide unspecified future software products and updates, we are required to recognize revenue ratably over the term of the arrangement, once the other revenue recognition criteria noted above have been met. Our point product arrangements with Premier Plus SMS include SMS for the term of the arrangement. Since we do not have VSOE for our Premier Plus SMS offering, the SMS element of our point product arrangements is not separable. As a result, revenue associated with point product arrangements with Premier Plus SMS included for the contract term is recognized ratably over the term of the arrangement, once the other revenue recognition criteria have been met. Perpetual and legacy term license arrangements do not include the same rights as those provided to customers under the aspenONE licensing model and point product arrangements with Premier Plus SMS. Legacy SMS revenue is generated from legacy SMS offerings provided in support of perpetual and legacy term license arrangements. Customers typically receive SMS for one year and then can elect to renew SMS annually. During fiscal 2014 and prior periods, we had VSOE for certain legacy SMS offerings sold with perpetual and term license arrangements and could therefore separate the undelivered elements. Accordingly, license fee revenue for perpetual and legacy term license arrangements was recognized upon delivery of the software products using the residual method, provided all other revenue recognition requirements were met. VSOE of fair value for the undelivered SMS component sold with our perpetual and term license arrangements was deferred and subsequently amortized into revenue ratably over the contractual term of the SMS arrangement. As of July 1, 2014, we are no longer able to establish VSOE for our legacy SMS offerings sold with our perpetual license arrangements. As of July 1, 2015, we were no longer able to establish VSOE for SMS offerings sold with our legacy term license arrangements. As a result, all perpetual license agreements and legacy term agreements that include legacy SMS entered into subsequent to June 30, 2014 and June 30, 2015, respectively, will be recognized ratably over the legacy SMS service period. Loss of VSOE on legacy SMS offerings sold with our perpetual license and legacy term arrangements did not have a material impact on our revenue in fiscal 2016 and is not expected to have a material impact on our revenue in future periods. Services and Other Revenue Professional Services Revenue Professional services are provided to customers on a time-and-materials (T&M) or fixed-price basis. We recognize professional services fees for our T&M contracts based upon hours worked and contractually agreed-upon hourly rates. Revenue from fixed-price engagements is recognized using the proportional performance method based on the ratio of costs incurred to the total estimated project costs. Project costs are typically expensed as incurred. The use of the proportional performance method is dependent upon our ability to reliably estimate the costs to complete a project. We use historical experience as a basis for future estimates to complete current projects. Additionally, we believe that costs are the best available measure of performance. Out-of-pocket expenses which are reimbursed by customers are recorded as revenue. In certain circumstances, professional services revenue may be recognized over a longer time period than the period over which the services are performed. If the costs to complete a project are not estimable or the completion is uncertain, the revenue is recognized upon completion of the services. In circumstances in which professional services are sold as a single arrangement with, or in contemplation of, a new aspenONE license or point product arrangement with Premier Plus SMS, revenue is deferred and recognized on a ratable basis over the longer of (i) the period the services are performed, or (ii) the license term. When we provide professional services considered essential to the functionality of the software, we recognize the combined revenue from the sale of the software and related services using the completed contract or percentage-of-completion method. We have occasionally been required to commit unanticipated additional resources to complete projects, which resulted in losses on those contracts. Provisions for estimated losses on contracts are made during the period in which such losses become probable and can be reasonably estimated. Training Revenue We provide training services to our customers, including on-site, Internet-based, public and customized training. Revenue is recognized in the period in which the services are performed. In circumstances in which training services are sold as a single arrangement with, or in contemplation of, a new aspenONE license or point product arrangement with Premier Plus SMS, revenue is deferred and recognized on a ratable basis over the longer of (i) the period the services are performed or (ii) the license term. Deferred Revenue Deferred revenue includes amounts billed or collected in advance of revenue recognition, including arrangements under the aspenONE licensing model, point product arrangements with Premier Plus SMS, legacy SMS arrangements, professional services, and training. Under the aspenONE licensing model and for point product arrangements with Premier Plus SMS, VSOE does not exist for the undelivered elements, and as a result, the arrangement fees are recognized ratably (i.e., on a subscription basis) over the term of the license. Deferred revenue is recorded as each invoice becomes due. Other Licensing Matters Our standard licensing agreements include a product warranty provision. We have not experienced significant claims related to software warranties beyond the scope of SMS support, which we are already obligated to provide, and consequently, we have not established reserves for warranty obligations. Our agreements with our customers generally require us to indemnify the customer against claims that our software infringes third-party patent, copyright, trademark or other proprietary rights. Such indemnification obligations are generally limited in a variety of industry-standard respects, including our right to replace an infringing product. As of June 30, 2016 and 2015 , we had not experienced any material losses related to these indemnification obligations and no claims with respect thereto were outstanding. We do not expect significant claims related to these indemnification obligations, and consequently, have not established any related reserves. (g) Installments Receivable Installments receivable resulting from product sales under the upfront revenue model are discounted to present value at prevailing market rates at the date the contract is signed, taking into consideration the customer's credit rating. The finance element is recognized using the effective interest method over the relevant license term and is classified as interest income. Current installments receivable consist of invoices with a due date of less than one year but greater than 45 days from the period-end date. Once an installments receivable invoice becomes due within 45 days, it is reclassified as a trade accounts receivable in our consolidated balance sheets. As a result, we did not have any past due installments receivable as of June 30, 2016 . Our non-current installments receivable are within the scope of Accounting Standards Update (ASU) No. 2010-20, Receivables (Topic 310): Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses . As our portfolio of financing receivables arises from the sale of our software licenses, the methodology for determining our allowance for doubtful accounts is based on the collective population of receivables and is not stratified by class or portfolio segment. We consider factors such as existing economic conditions, country risk, customers' credit rating and past payment history in determining our allowance for doubtful accounts. We reserve against our installments receivable when the related trade accounts receivable have been past due for over a year, or when there is a specific risk of uncollectability. Our specific reserve reflects the full value of the related installments receivable for which collection has been deemed uncertain. We transfer an installment receivable reserve balance into a trade accounts receivable allowance when an installment receivable ages into a trade account receivable. We write-off receivables when they are considered uncollectable based on our judgment. In instances when we write-off specific customers' trade accounts receivable, we also write off any related current and non-current installments receivable balances. As of June 30, 2016 and June 30, 2015 , our current installments receivable of $0.3 million and $1.6 million , respectively, are included within prepaid expenses and other current assets in our consolidated balance sheets. As of June 30, 2015, our non-current installments receivable of $0.3 million is included within other non-current assets in our consolidated balance sheets. Under the aspenONE licensing model and for point product arrangements with Premier Plus SMS included for the contract term, the installment payments are not considered fixed or determinable and, as a result, are not included as installments receivable on our consolidated balance sheet. (h) Allowance for Doubtful Accounts and Discounts We make judgments as to our ability to collect outstanding receivables and provide allowances for the portion of receivables when a loss is reasonably expected to occur. The allowance for doubtful accounts is established to represent the best estimate of the net realizable value of the outstanding accounts receivable. The development of the allowance for doubtful accounts is based on a review of past due amounts, historical write-off and recovery experience, as well as aging trends affecting specific accounts and general operational factors affecting all accounts. In addition, factors are developed utilizing historical trends in bad debts and allowances. We consider current economic trends when evaluating the adequacy of the allowance for doubtful accounts. If circumstances relating to specific customers change or unanticipated changes occur in the general business environment, our estimates of the recoverability of receivables could be further adjusted. The following table presents our allowance for doubtful accounts activity for accounts receivable in fiscal 2016 and 2015 , respectively: Year Ended June 30, 2016 2015 (Dollars in Thousands) Balance, beginning of year $ 1,636 $ 3,465 Provision for bad debts 1,032 (1,032 ) Write-offs (1,064 ) (797 ) Balance, end of year $ 1,604 $ 1,636 The following table summarizes our accounts receivable, net of the related allowance for doubtful accounts, as of June 30, 2016 and 2015 : Gross Allowance Net (Dollars in Thousands) June 30, 2016: Accounts Receivable $ 22,080 $ 1,604 $ 20,476 $ 22,080 $ 1,604 $ 20,476 June 30, 2015: Accounts Receivable $ 32,357 $ 1,636 $ 30,721 $ 32,357 $ 1,636 $ 30,721 (i) Fair Value of Financial Instruments We determine fair value of financial and non-financial assets and liabilities in accordance with provisions of ASC Topic 820, Fair Value Measurements and Disclosures (ASC 820). ASC 820 defines fair value as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. ASC 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities, and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 Inputs—Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs—Inputs other than quoted prices included in Level 1 that are observable for an asset or a liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for an asset or a liability (such as interest rates, yield curves, volatilities, prepayment speeds, credit risks, etc.), or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs—Unobservable inputs for determining fair values of assets or liabilities that reflect an entity's own assumptions in pricing assets or liabilities. Cash Equivalents. Cash equivalents are reported at fair value utilizing quoted market prices in identical markets, or "Level 1 Inputs." Our cash equivalents consist of short-term, highly liquid investments with remaining maturities of three months or less when purchased. Marketable Securities. Marketable securities are reported at fair value calculated in accordance with the market approach, utilizing market consensus pricing models with quoted prices that are directly or indirectly observable, or "Level 2 Inputs". Financial instruments not measured or recorded at fair value in the accompanying consolidated financial statements consist of cash, accounts receivable, installments receivable, accounts payable and accrued liabilities. The estimated fair value of these financial instruments approximates their carrying value. The estimated fair value of the borrowings under the credit agreement approximates its carrying value due to the floating interest rate. The following table summarizes financial assets and financial liabilities measured and recorded at fair value on a recurring basis in the accompanying consolidated balance sheets as of June 30, 2016 and 2015 , segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Fair Value Measurements at Reporting Date Using, Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs) Significant Other Observable Inputs (Level 2 Inputs) (Dollars in Thousands) June 30, 2016: Cash equivalents $ 286,200 $ — Marketable securities — 3,006 June 30, 2015: Cash equivalents $ 130,232 $ — Marketable securities — 62,244 At June 30, 2016 and 2015 , we did not have any assets or liabilities measured at fair value on a recurring basis using significant unobservable inputs ("Level 3 Inputs"). Certain non-financial assets, including goodwill, finite-lived intangible assets and other non-financial long-lived assets, are measured at fair value using market and income approaches on a non-recurring basis when there is an indication of impairment. (j) Computer Software Development Costs Certain computer software development costs are capitalized in the accompanying consolidated balance sheets. Capitalization of computer software development costs begins upon establishing technological feasibility defined as meeting specifications determined by the program design. Amortization of capitalized computer software development costs is provided on a product-by-product basis using the greater of (a) the amount computed using the ratio that current gross revenue for a product bears to total of current and anticipated future gross revenue for that product or (b) the straight-line method, beginning upon commercial release of the product, and continuing over the remaining estimated economic life of the product, not to exceed three years . Total computer software costs capitalized were $0.3 million , $0.4 million and $0.7 million during the years ended June 30, 2016 , 2015 and 2014 , respectively. Total amortization expense charged to operations was approximately $0.6 million , $0.7 million and $1.0 million for the years ended June 30, 2016 , 2015 and 2014 , respectively. Computer software development accumulated amortization totaled $73.8 million and $73.3 million as of June 30, 2016 and 2015 , respectively. Weighted average remaining useful life of computer software development costs was 0.7 years and 1.1 years at June 30, 2016 and 2015 , respectively. At each balance sheet date, we evaluate the unamortized capitalized software costs for potential impairment by comparing the balance to the net realizable value of the products. During the years ending June 30, 2016 , 2015 and 2014 , our computer software development costs were not considered impaired and as such, we did not recognize impairment losses during the periods then ended. (k) Foreign Currency Translation The determination of the functional currency of subsidiaries is based on the subsidiaries' financial and operational environment and is the local currency of the subsidiary. Gains and losses from foreign currency translation related to entities whose functional currency is their local currency are credited or charged to accumulated other comprehensive income included in stockholders' (deficit) equity in the consolidated balance sheets. In all instances, foreign currency transaction and remeasurement gains or losses are credited or charged to the consolidated statements of operations as incurred as a component of other income (expense), net. Net foreign currency transaction and remeasurement gains (losses) were less than $0.1 million , $(0.8) million and $(2.3) million in fiscal 2016 , 2015 and 2014 , respectively. Fiscal 2016 other income (expense), net included $3.4 million of foreign currency exchange losses related to the Acquisition Bid (refer to Note 4, Acquisitions, for further discussion). (l) Net Income Per Share Basic income per share is determined by dividing net income by the weighted average common shares outstanding during the period. Diluted income per share is determined by dividing net income by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and other commitments to be settled in common stock are included in the calculation of diluted income per share based on the treasury stock method. For the years ended June 30, 2016 , 2015 and 2014 , certain employee equity awards were anti-dilutive based on the treasury stock method. The calculations of basic and diluted net income (loss) per share and basic and diluted weighted average shares outstanding are as follows: Year Ended June 30, 2016 2015 2014 (Dollars and Shares in Thousands, Except per Share Data) Net income $ 139,951 $ 118,407 $ 85,783 Weighted average shares outstanding 82,892 88,398 92,648 Dilutive impact from: Employee equity awards 417 618 1,017 Dilutive weighted average shares outstanding 83,309 89,016 93,665 Income per share Basic $ 1.69 $ 1.34 $ 0.93 Dilutive $ 1.68 $ 1.33 $ 0.92 The following potential c

Property and Equipment

Property and Equipment	12 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property, equipment and leasehold improvements in the accompanying consolidated balance sheets consist of the following: Year Ended June 30, 2016 2015 (Dollars in Thousands) Property, equipment and leasehold improvements—at cost: Computer equipment $ 10,387 $ 11,614 Purchased software 23,705 23,338 Furniture & fixtures 6,712 6,653 Leasehold improvements 12,523 12,225 Accumulated depreciation (37,502 ) (35,791 ) Property, equipment and leasehold improvements—net $ 15,825 $ 18,039 During fiscal 2016 , we wrote off fully depreciated property, equipment and leasehold improvements that were no longer in use with gross book values of $3.0 million . Depreciation expense was $ 5.1 million , $ 4.7 million and $ 3.3 million for fiscal 2016 , 2015 and 2014 , respectively. We account for asset retirement obligations in accordance with ASC Topic 410, Asset Retirement and Environmental Obligations . Our asset retirement obligations relate to leasehold improvements for leased properties. The balance of our asset retirement obligations was $0.9 million and $0.6 million as of June 30, 2016 and 2015 , respectively.

Acquisitions

Acquisitions	12 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Acquisitions	Acquisitions In January 2016 we placed an offer to acquire the share capital of KBC Advanced Technologies plc (“KBC”) for 185 Pence Sterling per share, which valued KBC at approximately £158 million ("the Acquisition Bid"). The Acquisition Bid was to have been funded by cash on hand of approximately $91.0 million , which was held in escrow, and $140.0 million to be funded by a credit facility. On February 26, 2016, we entered into a $250.0 million credit agreement (the “Credit Agreement”) and borrowed $140.0 million (refer to Note 9 for further discussion of the Credit Agreement). In February 2016, KBC announced it had agreed to accept an acquisition offer of 210 Pence Sterling per share from Yokogawa Electric Corporation (“Yokogawa”) and we announced we did not intend to revise our offer. In April 2016 KBC was acquired by Yokogawa. A portion of the escrow balance was held in GBP for a period of time, which resulted in foreign exchange losses. During the year ended June 30, 2016, we incurred $5.2 million of costs related to the Acquisition Bid, as well as $3.4 million of foreign exchange losses, which were recognized in our results of operations as a component of general and administrative expenses and other income (expense), net, respectively. In June 2016, we completed the acquisition of all the outstanding shares of Fidelis Group, LLC ("Fidelis"), a provider of asset reliability software used to predict and optimize asset performance. The purchase price consisted of $8.0 million of cash paid at closing and up to $2.0 million payment to be paid in December 2017. A preliminary allocation of the purchase price is as follows. The valuation of acquired intangible assets and the deferred tax liabilities are considered preliminary as of June 30, 2016. Amount (Dollars in Thousands) Tangible assets acquired, net $ 65 Identifiable intangible assets: Developed technology 1,100 Customer relationships 700 In-process Research and Development 3,200 Goodwill 6,784 Deferred tax liabilities, net (1,849 ) Total assets acquired $ 10,000 We used the income approach to determine the values of the identifiable intangible assets. The weighted-average discount rate (or rate of return) used to determine the value of the Fidelis intangible assets was 18% and the effective tax rate used was 34% . The values of the developed technology, in-process research and development and customer relationships are being amortized on a straight-line basis over their estimated useful lives of 10.0 years , 11.0 years and 8.0 years , respectively. The in-process research and development will begin amortization upon completion, which is expected in fiscal 2017. The weighted-average amortization period for these amortizable identifiable intangible assets is approximately 10.4 years . The goodwill, which is not deductible for tax purposes, reflects the value of the assembled workforce and the company-specific synergies we expect to realize by selling Fidelis products and services to our existing customers. The results of operations of Fidelis have been included prospectively in our results of operations since the date of acquisition. Our results of operations giving effect to the Fidelis acquisition as if it had occurred at the beginning of fiscal 2016 would not differ materially from reported results.

Intangible Assets

Intangible Assets	12 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets We include in our amortizable intangible assets those intangible assets acquired in our business and asset acquisitions. We amortize acquired intangible assets with finite lives over their estimated economic lives, generally using the straight-line method. Each period, we evaluate the estimated remaining useful lives of acquired intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of amortization. Acquired intangibles are removed from the accounts when fully amortized and no longer in use. Intangible assets consist of the following as of June 30, 2016 and 2015 : Gross Carrying Amount Accumulated Amortization Effect of currency translation Net Carrying Amount Weighted Average Remaining Life (in Years) (Dollars in Thousands) June 30, 2016: Technology and patents $ 3,696 $ (2,046 ) $ (550 ) $ 1,100 10.0 In process research & development 3,200 — — $ 3,200 11.0 Customer relationships 700 — — $ 700 8.0 Total $ 7,596 $ (2,046 ) $ (550 ) $ 5,000 10.4 June 30, 2015: Technology and patents $ 2,596 $ (2,646 ) $ 197 $ 147 0.4 Total $ 2,596 $ (2,646 ) $ 197 $ 147 0.4 Amortization expense for technology and patents is included in operating expenses and amounted to $0.1 million , $0.7 million and $0.9 million in fiscal 2016 , 2015 and 2014 , respectively. Amortization expense is expected to be approximately $0.2 million in fiscal 2017 , $0.5 million in fiscal 2018 , $0.5 million in fiscal 2019 , $0.5 million in fiscal 2020 , $0.5 million in fiscal 2021 , and $2.8 million thereafter.

Goodwill

Goodwill	12 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill for our subscription and software reporting unit during fiscal years ending June 30, 2016 and 2015 were as follows: Amount (Dollars in Thousands) Balance as of June 30, 2014: Goodwill $ 84,845 Accumulated impairment losses (65,569 ) $ 19,276 Effect of currency translation (1,916 ) Balance as of June 30, 2015: Goodwill $ 82,929 Accumulated impairment losses (65,569 ) $ 17,360 Acquisition 6,784 Effect of currency translation (706 ) Balance as of June 30, 2016: Goodwill $ 89,007 Accumulated impairment losses (65,569 ) $ 23,438 We test goodwill for impairment annually (or more often if impairment indicators arise), at the reporting unit level. We first assess qualitative factors to determine whether the existence of events or circumstances indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If we determine based on this assessment that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we perform the two-step goodwill impairment test. The first step requires us to determine the fair value of the reporting unit and compare it to the carrying amount, including goodwill, of such reporting unit. If the fair value exceeds the carrying amount, no impairment loss is recognized. However, if the carrying amount of the reporting unit exceeds its fair value, the goodwill of the unit may be impaired. The amount of impairment, if any, is measured based upon the implied fair value of goodwill at the valuation date. Fair value of a reporting unit is determined using a combined weighted average of a market-based approach (utilizing fair value multiples of comparable publicly traded companies) and an income-based approach (utilizing discounted projected cash flows). In applying the income-based approach, we would be required to make assumptions about the amount and timing of future expected cash flows, growth rates and appropriate discount rates. The amount and timing of future cash flows would be based on our most recent long-term financial projections. The discount rate we would utilize would be determined using estimates of market participant risk-adjusted weighted-average costs of capital and reflect the risks associated with achieving future cash flows. We have elected December 31 st as the annual impairment assessment date and perform additional impairment tests if triggering events occur. We performed our annual impairment test for the subscription and software reporting unit as of December 31, 2015 and, based upon the results of our qualitative assessment, determined that it was not likely that its fair value was less than its carrying amount. As such, we did not perform the two-step goodwill impairment test and did not recognize impairment losses as a result of our analysis. If an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value, goodwill will be evaluated for impairment between annual tests. No triggering events indicating goodwill impairment occurred during fiscal 2016 , 2015 and 2014 .

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Jun. 30, 2016
Balance Sheet Related Disclosures [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other current liabilities in the accompanying consolidated balance sheets consist of the following: Year Ended June 30, 2016 2015 (Dollars in Thousands) Royalties and outside commissions $ 2,640 $ 2,879 Payroll and payroll-related 17,809 18,965 Other 15,656 16,639 Total accrued expenses and other current liabilities $ 36,105 $ 38,483 Other non-current liabilities in the accompanying consolidated balance sheets consist of the following: Year Ended June 30, 2016 2015 (Dollars in Thousands) Deferred rent $ 6,361 $ 5,273 Uncertain tax positions 23,535 19,870 Other 2,695 4,379 Total other non-current liabilities $ 32,591 $ 29,522

Common Stock

Common Stock	12 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Common Stock	Common Stock On January 28, 2015, our Board of Directors approved a share repurchase program for up to $450 million worth of our common stock. On April 26, 2016, the Board of Directors approved a $400 million increase in the current share repurchase plan. The timing and amount of any shares repurchased are based on market conditions and other factors. All share repurchases of our common stock have been recorded as treasury stock under the cost method. We repurchased 4,750,692 shares, 7,731,428 shares and 3,110,114 shares of our common stock for $180.1 million , $298.3 million and $121.8 million during fiscal 2016 , 2015 and 2014 , respectively. As of June 30, 2016 , the remaining dollar value under the stock repurchase program was $521.3 million .

Credit Agreement

Credit Agreement	12 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Credit Agreement	Credit Agreement On February 26, 2016, we entered into a $250.0 million Credit Agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, Silicon Valley Bank, as syndication agent, and the lenders and other parties named therein (the “Lenders”). The indebtedness evidenced by the Credit Agreement matures on February 26, 2021. Prior to the maturity of the Credit Agreement, any amounts borrowed may be repaid and, subject to the terms and conditions of the Credit Agreement, borrowed again in whole or in part without penalty. As of June 30, 2016 , we had $140.0 million in outstanding borrowings under the Credit Agreement. Borrowings under the Credit Agreement bear interest at a rate equal to either, at our option, the sum of (a) the highest of (1) the rate of interest publicly announced by JPMorgan Chase Bank, N.A. as its prime rate in effect, (2) the Federal Funds Effective Rate plus 0.5% , and (3) the one-month Adjusted LIBO Rate plus 1.0% , plus (b) a margin initially of 0.5% for the first full fiscal quarter ending after the date of the Credit Agreement and thereafter based on our Leverage Ratio; or the Adjusted LIBO Rate plus a margin initially of 1.5% for the first full fiscal quarter ending after the date of the Credit Agreement and thereafter based on our Leverage Ratio. We must also pay, on a quarterly basis, an unused commitment fee at a rate of between 0.2% and 0.3% per annum, based on our Leverage Ratio. The interest rate as of June 30, 2016 was 1.96% . All borrowings under the Credit Agreement are secured by liens on substantially all of our assets. The Credit Agreement contains affirmative and negative covenants customary for facilities of this type, including restrictions on: incurrence of additional debt; liens; fundamental changes; asset sales; restricted payments; and transactions with affiliates. The Credit Agreement contains financial covenants regarding maintenance as of the end of each fiscal quarter, commencing with the quarter ending June 30, 2016, of a maximum Leverage Ratio of 3.0 to 1.0 and a minimum Interest Coverage Ratio of 3.0 to 1.0. We were in compliance with all covenants as of June 30, 2016.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Compensation Plans In April 2010, the shareholders approved the establishment of the 2010 Equity Incentive Plan (the 2010 Plan), which provides for the issuance of a maximum of 7,000,000 shares of common stock. The 2010 Plan provides for the grant of incentive and nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, other stock-related awards, and performance awards that may be settled in cash, stock, or other property. As of June 30, 2016 , there were 3,537,843 shares of common stock available for issuance subject to awards under the 2010 Plan. In May 2005, the shareholders approved the establishment of the 2005 Stock Incentive Plan (the 2005 Plan), which provides for the issuance of a maximum of 4,000,000 shares of common stock. The 2005 Plan provides for the grant of incentive and nonqualified stock options and other stock-based awards, including the grant of shares based upon certain conditions, the grant of securities convertible into common stock and the grant of stock appreciation rights. Restricted stock and other stock-based awards granted under the 2005 Plan may not exceed, in the aggregate, 4,000,000 shares of common stock. The 2005 Plan expired on March 31, 2015. General Award Terms We issue stock options and restricted stock units (RSUs) to our employees and outside directors, pursuant to shareholder-approved equity compensation plans. Option awards are granted with an exercise price equal to the market closing price of our stock on the trading day prior to the grant date. Those options generally vest over four years and expire within 7 or 10 years of grant. RSUs generally vest over four years . Historically, our practice has been to settle stock option exercises and RSU vesting through newly-issued shares. Stock Compensation Accounting Our stock-based compensation is accounted for as awards of equity instruments. Our policy is to issue new shares upon the exercise of stock awards. We use the "with-and-without" approach for determining if excess tax benefits are realized under ASC 718. We utilize the Black-Scholes option valuation model for estimating the fair value of options granted. The Black-Scholes option valuation model incorporates assumptions regarding expected stock price volatility, the expected life of the option, the risk-free interest rate, dividend yield and the market value of our common stock. The expected stock price volatility is determined based on our stock's historic prices over a period commensurate with the expected life of the award. The expected life of an option represents the period for which options are expected to be outstanding as determined by historic option exercises and cancellations. The risk-free interest rate is based on the U.S. Treasury yield curve for notes with terms approximating the expected life of the options granted. The expected dividend yield is zero, based on our history and expectation of not paying dividends on common shares. We recognize compensation costs on a straight-line basis, net of estimated forfeitures, over the requisite service period for time-vested awards. The weighted average estimated fair value of option awards granted during fiscal 2016 , 2015 and 2014 was $13.16 , $13.43 and $11.56 respectively. We utilized the Black-Scholes option valuation model with the following weighted average assumptions: Year Ended June 30, 2016 2015 2014 Risk-free interest rate 1.4 % 1.5 % 1.3 % Expected dividend yield None None None Expected life (in years) 4.6 4.6 4.6 Expected volatility factor 34 % 35 % 39 % The stock-based compensation expense and its classification in the accompanying consolidated statements of operations for fiscal 2016 , 2015 and 2014 was as follows: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Recorded as expenses: Cost of service and other $ 1,390 $ 1,351 $ 1,239 Selling and marketing 4,351 3,056 3,280 Research and development 3,423 3,881 4,129 General and administrative 6,563 6,296 5,408 Total stock-based compensation $ 15,727 $ 14,584 $ 14,056 A summary of stock option and RSU activity under all equity plans in fiscal 2016 is as follows: Stock Options Restricted Stock Units Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in 000's) Shares Weighted Average Grant Date Fair Value Outstanding at June 30, 2015 1,214,257 $ 27.25 7.26 $ 22,232 542,432 $ 36.13 Granted 428,083 42.66 422,120 41.86 Settled (RSUs) (341,496 ) 35.74 Exercised (201,706 ) 19.44 Cancelled / Forfeited (126,492 ) 37.61 (129,724 ) 37.09 Outstanding at June 30, 2016 1,314,142 $ 32.47 7.23 $ 12,340 493,332 $ 41.06 Exercisable at June 30, 2016 836,756 $ 27.46 6.40 $ 11,485 Vested and expected to vest at June 30, 2016 1,265,478 $ 32.10 7.18 $ 12,280 443,222 $ 40.97 During fiscal 2016 , 2015 and 2014 , the weighted average grant-date fair value of RSUs granted was $41.86 , $42.65 and $33.07 , respectively. During fiscal 2016 , 2015 and 2014 the total fair value of vested shares from RSU grants amounted to $12.7 million , $16.1 million and $22.2 million , respectively. As of June 30, 2016 , the total future unrecognized compensation cost related to stock options and RSUs was $5.4 million and $17.8 million , respectively, and both are expected to be recorded over a weighted average period of 2.5 years . During fiscal 2016 , 2015 and 2014 the weighted average exercise price of stock options granted was $42.66 , $42.66 and $33.06 . The total intrinsic value of options exercised during fiscal 2016 , 2015 and 2014 was $4.1 million , $8.2 million and $19.9 million , respectively. We received $3.9 million , $4.6 million and $8.7 million in cash proceeds from option exercises during fiscal 2016 , 2015 and 2014 , respectively. We paid $4.4 million , $5.7 million and $7.8 million for withholding taxes on vested RSUs during fiscal 2016 , 2015 and 2014 , respectively. At June 30, 2016 , common stock reserved for future issuance or settlement under equity compensation plans was 5.3 million shares.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income before provision for income taxes consists of the following: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Domestic $ 201,885 $ 175,805 $ 121,329 Foreign 8,754 3,666 7,204 Income before provision for income taxes $ 210,639 $ 179,471 $ 128,533 The provision for income taxes shown in the accompanying consolidated statements of operations is composed of the following: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Federal— Current $ 56,535 $ — $ — Deferred 7,496 55,895 32,996 State— Current 1,866 2,176 528 Deferred 204 729 1,005 Foreign— Current 4,554 3,382 7,785 Deferred 33 (1,118 ) 436 $ 70,688 $ 61,064 $ 42,750 The provision for income taxes differs from that based on the federal statutory rate due to the following: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Federal tax provision at statutory rate $ 73,723 $ 62,815 $ 44,989 State income taxes 1,153 2,114 78 Subpart F and dividend income 3,581 2,799 6,667 Foreign taxes and rate differences (663 ) (222 ) 1,881 Stock-based compensation 1,359 763 631 Tax credits (3,867 ) (3,562 ) (8,902 ) Tax contingencies (581 ) (641 ) (261 ) Return to provision adjustments 658 384 150 Domestic Production Activity Deduction (4,892 ) (3,600 ) (2,443 ) Valuation allowance 49 176 (16 ) Other 168 38 (24 ) Provision for income taxes $ 70,688 $ 61,064 $ 42,750 Deferred tax assets (liabilities) consist of the following at June 30, 2016 and 2015 : Year Ended June 30, 2016 2015 (Dollars in Thousands) Deferred tax assets: Federal and state credits $ 1,270 $ 2,144 Capital loss carryforwards 8,073 8,028 Foreign loss carryforwards 1,742 2,133 Deferred revenue 7,821 5,620 Other reserves and accruals 6,762 6,838 Intangible assets 1,616 2,478 Property, leasehold improvements, and other basis differences 1,853 2,136 Other temporary differences 870 2,916 30,007 32,293 Deferred tax liabilities: Deferred revenue (1,276 ) (1,362 ) Intangible assets (2,912 ) (1,065 ) Property, leasehold improvements, and other basis differences (3,305 ) (2,812 ) Other temporary differences (508 ) (645 ) (8,001 ) (5,884 ) Valuation allowance (10,119 ) (10,144 ) Net deferred tax assets $ 11,887 $ 16,265 Reflected in the deferred tax assets above at June 30, 2016 , we have foreign net operating loss carryforwards of $6.9 million some of which will expire beginning in 2019 and others with unlimited carryforwards, state research and development credits of $1.2 million which begin to expire in 2025, and U.S. federal alternative minimum tax credit carryforwards of $0.4 million which has an unlimited carryforward. In fiscal 2016 and fiscal 2015 , we recorded reductions in the income taxes payable of $2.2 million and $37.0 million , respectively, with an increase to additional paid in capital, for the benefits of excess stock-based compensation deductions recognized during the period in the United States and United Kingdom. Our valuation allowance for deferred tax assets was $10.1 million and $10.1 million as of June 30, 2016 and 2015 respectively. The most significant portion of the valuation allowance is attributable to a reserve against US capital loss carryforward deferred tax asset of $8.1 million . We have determined that we underwent an ownership change (as defined under section 382 of the Internal Revenue Code of 1986, as amended) during fiscal 2011 . As such, the utilization of certain tax attributes is subject to an annual limitation. The annual limitation is not expected to impact the realizability of the deferred tax assets. For fiscal 2016 , our income tax provision included amounts determined under the provisions of ASC 740 intended to satisfy additional income tax assessments, including interest and penalties, that could result from any tax return positions for which the likelihood of sustaining the position on audit does not meet a threshold of "more likely than not." Tax liabilities were recorded as a component of our income taxes payable and other non-current liabilities. The ultimate amount of taxes due will not be known until examinations are completed and settled or the audit periods are closed by statutes. A reconciliation of the reserve for uncertain tax positions is as follows: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Uncertain tax positions, beginning of year $ 19,870 $ 21,193 $ 22,031 Gross increases—tax positions in prior period 67 238 112 Gross increases—tax positions in current period 5,474 — — Gross decreases—lapse of statutes (1,772 ) (1,024 ) (823 ) Currency translation adjustment (104 ) (537 ) (127 ) Uncertain tax positions, end of year $ 23,535 $ 19,870 $ 21,193 At June 30, 2016 , the total amount of unrecognized tax benefits is $23.5 million . Upon being recognized, the amount would reduce the effective tax rate. Our policy is to recognize interest and penalties related to income tax matters as provision for (benefit from) income taxes. At June 30, 2016 , we had approximately $1.2 million of accrued interest and $0.8 million of penalties related to uncertain tax positions. We recorded a benefit for interest and penalties of approximately $0.8 million during fiscal 2016 . During the fourth quarter of fiscal 2016 , we were notified by the Internal Revenue Services (“IRS”) that the fiscal 2015 U.S. federal income tax return will be audited. We believe our allowances for income tax contingencies are adequate and do not expect final resolution of the audit for approximately 12 months. Based on the information currently available, we do not anticipate a significant increase or decrease to our tax contingencies. We also continue to be subject to examination by the IRS for tax years 2007 to 2015. We are subject to income tax in many jurisdictions outside the U.S. Our operations in certain jurisdictions remain subject to examination for tax years 2006 to 2015, some of which are currently under audit by local tax authorities. The resolutions of these audits are not expected to be material to our consolidated financial statements.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases We lease certain facilities and various office equipment under non-cancellable operating leases with terms in excess of one year. Rental expense, including short term leases, maintenance charges and taxes on leased facilities, was approximately $8.3 million , $8.3 million and $7.1 million for fiscal years 2016 , 2015 and 2014 , respectively. Future minimum lease payments under these leases as of June 30, 2016 are as follows: Year Ended June 30, Operating Leases (Dollars in Thousands) 2017 $ 5,973 2018 6,815 2019 7,475 2020 6,979 2021 5,733 Thereafter 16,703 Total $ 49,678 Standby letters of credit for $3.5 million secure our performance on professional services contracts and certain facility leases. The letters of credit expire at various dates through fiscal 2025. Legal Matters In the ordinary course of business, we are, from time to time, involved in lawsuits, claims, investigations, proceedings and threats of litigation. These matters include an April 2004 claim by a customer that certain of our software products and implementation services failed to meet the customer's expectations. In March 2014, a judgment was issued by the trial court against us in the amount of approximately 1.9 million Euro ("€") plus interest and a portion of legal fees. We subsequently filed an appeal of that judgment. As of June 2016, the appellate court determined that we are liable for damages in the amount of approximately €1.7 million plus interest, with the possibility of additional damages to be determined in further proceedings by the appellate court. While the outcome of the proceedings and claims referenced above cannot be predicted with certainty, there are no such matters, as of June 30, 2016 that, in the opinion of management, are reasonably possible to have a material adverse effect on our financial position, results of operations or cash flows. Liabilities, if applicable, related to the aforementioned matters discussed in this Note have been included in our accrued liabilities at June 30, 2016 , and are not material to our financial position for the periods then ended. As of June 30, 2016 , we do not believe that there is a reasonable possibility of a material loss exceeding the amounts already accrued for the proceedings or matters discussed above. However, the results of litigation (including the above-referenced appeal) and claims cannot be predicted with certainty; unfavorable resolutions are possible and could materially affect our results of operations, cash flows or financial position. In addition, regardless of the outcome, litigation could have an adverse impact on us because of attorneys' fees and costs, diversion of management resources and other factors.

Retirement Plans

Retirement Plans	12 Months Ended
	Jun. 30, 2016
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Retirement and Profit Sharing Plans	Retirement Plans We maintain a defined contribution retirement plan under Section 401(k) of the Internal Revenue Code (IRC) covering all eligible employees, as defined. Under the plan, a participant may elect to defer receipt of a stated percentage of his or her compensation, subject to limitation under the IRC, which would otherwise be payable to the participant for any plan year. We may make discretionary contributions to this plan, including making matching contributions of 50% , up to a maximum of 6% of an employee's pretax contribution. We made matching contributions of approximately $2.4 million , $2.2 million and $2.0 million in fiscal 2016 , 2015 and 2014 , respectively. Additionally, we participate in certain government mandated and defined contribution plans throughout the world for which we comply with all funding requirements.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment and Geographic Information	Segment and Geographic Information Operating segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and to assess performance. Our chief operating decision maker is our President and Chief Executive Officer. We have two operating and reportable segments, which are consistent with our reporting units: i) subscription and software and ii) services. The subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services. The services segment includes professional services and training. The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies (refer to Note 2). We do not track assets or capital expenditures by operating segments. Consequently, it is not practical to present assets, capital expenditures, depreciation or amortization by operating segments. The following table presents a summary of our reportable segments' profits: Subscription Services Total (Dollars in Thousands) Year Ended June 30, 2016: Segment revenue $ 440,408 $ 31,936 $ 472,344 Segment expenses(1) (179,064 ) (28,235 ) (207,299 ) Segment profit $ 261,344 $ 3,701 $ 265,045 Year Ended June 30, 2015: Segment revenue $ 405,640 $ 34,761 $ 440,401 Segment expenses(1) (183,485 ) (28,411 ) (211,896 ) Segment profit $ 222,155 $ 6,350 $ 228,505 Year Ended June 30, 2014: Segment revenue $ 350,486 $ 40,967 $ 391,453 Segment expenses(1) (183,378 ) (32,547 ) (215,925 ) Segment profit $ 167,108 $ 8,420 $ 175,528 ____________________________________________ (1) Our reportable segments’ operating expenses include expenses directly attributable to the segments. Segment expenses include selling and marketing, research and development, stock-based compensation and certain corporate expenses incurred in support of the segments. Segment expenses do not include allocations of general and administrative; interest income, net; and other income (expense), net. Reconciliation to Income Before Provision for Income Taxes The following table presents a reconciliation of total segment operating profit to income before provision for income taxes: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Total segment profit for reportable segments $ 265,045 $ 228,505 $ 175,528 General and administrative (53,664 ) (48,713 ) (45,804 ) Other income (expense), net 29 (778 ) (2,278 ) Interest income (net) (771 ) 457 1,087 Income before provision for income taxes $ 210,639 $ 179,471 $ 128,533 Geographic Information: Revenue to external customers is attributed to individual countries based on the location the product or services are sold. Domestic and international sales as a percentage of total revenue are as follows: Year Ended June 30, 2016 2015 2014 United States 35.4 % 34.6 % 35.5 % Europe 29.6 30.6 30.2 Other(1) 35.0 34.8 34.3 100.0 % 100.0 % 100.0 % ____________________________________________ (1) Other consists primarily of Asia Pacific, Canada, Latin America and the Middle East. We have long-lived assets of approximately $31.6 million that are located domestically and $14.6 million that reside in other geographic locations as of June 30, 2016 . We had long-lived assets of approximately $23.8 million that were located domestically and $14.2 million that reside in other geographic locations as of June 30, 2015 .

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Jun. 30, 2016
Quarterly Financial Data [Abstract]
Quarterly Financial Data (Unaudited)	Quarterly Financial Data (Unaudited) The following tables present quarterly consolidated statement of operations data for fiscal 2016 and 2015 . The below data is unaudited but, in our opinion, reflects all adjustments necessary for a fair presentation of this data in accordance with GAAP: Three Months Ended June 30, March 31, December 31, 2015 September 30, (Dollars and Shares in Thousands, Except per Share Data) Total revenue $ 113,680 $ 119,217 $ 119,151 $ 120,296 Gross profit 101,949 107,197 107,263 107,324 Income from operations 48,972 50,681 56,299 55,429 Net income 33,326 33,171 36,683 36,771 Net income per common share: Basic $ 0.41 $ 0.40 $ 0.44 $ 0.44 Diluted $ 0.41 $ 0.40 $ 0.44 $ 0.44 Weighted average shares outstanding: Basic 81,282 83,081 83,315 83,876 Diluted 81,599 83,373 83,703 84,320 Three Months Ended June 30, March 31, December 31, 2014 September 30, (Dollars and Shares in Thousands, Except per Share Data) Total revenue $ 114,186 $ 111,299 $ 107,790 $ 107,126 Gross profit 101,565 98,990 95,525 94,745 Income from operations 46,906 41,731 46,521 44,634 Net income 30,806 28,170 30,464 28,967 Net income per common share: Basic $ 0.36 $ 0.32 $ 0.34 $ 0.32 Diluted $ 0.36 $ 0.32 $ 0.34 $ 0.32 Weighted average shares outstanding: Basic 85,056 87,355 89,942 91,183 Diluted 85,585 87,853 90,471 91,891

Significant Accounting Polici24

Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Principles of Consolidation	(a) Principles of Consolidation The accompanying consolidated financial statements include the accounts of Aspen Technology, Inc. and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain line items in prior period financial statements have been reclassified to conform to currently reported presentations.
Management Estimates	(b) Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	(c) Cash and Cash Equivalents Cash and cash equivalents consist of short-term, highly liquid investments with remaining maturities of three months or less when purchased.
Marketable Securities	(d) Marketable Securities The following table summarizes the fair value, the amortized cost and unrealized holding gains (losses) on our marketable securities as of June 30, 2016 and 2015 : Fair Value Cost Unrealized Gains Unrealized Losses (Dollars in Thousands) June 30, 2016: U.S. corporate bonds with maturities less than one year $ 3,006 $ 3,006 $ — $ — Total short-term marketable securities $ 3,006 $ 3,006 $ — $ — June 30, 2015: U.S. corporate bonds with maturities less than one year $ 59,197 $ 59,223 $ 8 $ (34 ) Total short-term marketable securities $ 59,197 $ 59,223 $ 8 $ (34 ) U.S. corporate bonds with maturities greater than one year $ 3,047 $ 3,055 $ — $ (8 ) Total long-term marketable securities $ 3,047 $ 3,055 $ — $ (8 ) Our marketable securities are classified as available-for-sale and reported at fair value on the consolidated balance sheets. Net unrealized gains (losses) are reported as a separate component of accumulated other comprehensive income, net of tax. Realized gains and losses on investments are recognized in earnings as incurred. Our investments consist primarily of investment grade fixed income corporate debt securities with maturity dates in August 2016 as of June 30, 2016 and ranging from July 2015 through August 2016 as of June 30, 2015 . We review our marketable securities for impairment at each reporting period to determine if any of our securities have experienced an other-than-temporary decline in fair value in accordance with the provisions of ASC Topic 320, Investments—Debt and Equity Securities . We consider factors, such as the length of time and extent to which the market value has been less than the cost, the financial condition and near-term prospects of the issuer, our intent to sell, or whether it is more likely than not we will be required to sell the investment before recovery of its amortized cost basis. If we believe that an other-than-temporary decline in fair value has occurred, we write down the investment to fair value and recognize the credit loss in earnings and the non-credit loss in accumulated other comprehensive income. During fiscal 2016 and 2015 , our marketable securities were not considered other-than-temporarily impaired and, as such, we did not recognize impairment losses during the periods then ended. Unrealized losses are attributable to changes in interest rates.
Property and Equipment	(e) Property and Equipment Property and equipment are stated at cost. We provide for depreciation and amortization, primarily computed using the straight-line method, by charges to operations in amounts estimated to allocate the cost of the assets over their estimated useful lives, as follows: Asset Classification Estimated Useful Life Computer equipment 3 years Purchased software 3 - 5 years Furniture and fixtures 3 - 10 years Leasehold improvements Life of lease or asset, whichever is shorter
Revenue Recognition	(f) Revenue Recognition Transition to the aspenONE Licensing Model Prior to fiscal 2010, we offered term or perpetual licenses to specific products, or specifically defined sets of products, which we refer to as point products. The majority of our license revenue was recognized under an "upfront revenue model," in which the net present value of the aggregate license fees was recognized as revenue upon shipment of the point products, provided all revenue recognition criteria were met. Customers typically received one year of post-contract software maintenance and support, or SMS, with their license agreements and then could elect to renew SMS annually. Revenue from SMS was recognized ratably over the period in which the SMS was delivered. In fiscal 2010, we introduced the following changes to our licensing model: (i) We began offering our software on a subscription basis, allowing our customers access to all products within a licensed suite (aspenONE Engineering or aspenONE Manufacturing and Supply Chain). SMS is included for the entire term of the arrangement and customers are entitled to any software products or updates introduced into the licensed suite. We refer to this license arrangement as our aspenONE licensing model. (ii) We began to include SMS for the entire term on our point product term arrangements. In fiscal 2012, we introduced Premier Plus SMS. As part of this offering, customers receive 24x7 support, faster response times, dedicated technical advocates and access to web-based training modules. Premier Plus SMS is exclusively available as a component of our term contract arrangements and we are unable to establish VSOE for this deliverable because we don't offer it on a stand-alone basis. Revenue related to our aspenONE licensing model and point product arrangements with Premier Plus SMS are both recognized over the term of the arrangement on a ratable basis. The changes to our licensing model resulted in a significant reduction to license revenue in fiscal 2010, as compared to fiscal periods preceding our licensing model changes. From fiscal 2010 through fiscal 2015, as customer license arrangements previously executed under the upfront revenue model reached the end of their terms and were renewed under the aspenONE licensing model, we recognized increasing amounts of subscription revenue and deferred revenue. The value of our installed base of software licenses was also growing during this period which further contributed to growth in subscription and deferred revenue. Many of our license arrangements were five or six years in duration when the aspenONE licensing model was introduced at the start of fiscal 2010, and consequently, a number of arrangements executed under the upfront revenue model did not reach the end of their original term until the end of fiscal 2015. The changes to our licensing model did not have any material impact on subscription revenue or deferred revenue for fiscal 2016 and we do not expect any material impact on subscription revenue or deferred revenue for fiscal 2017 and beyond. The changes to our licensing model introduced in fiscal 2010 did not change the method or timing of customer billings or cash collections. In addition, the changes to our licensing model did not impact the incurrence or timing of our expenses. Since there was no corresponding expense reduction to offset the lower revenue during fiscal years 2010-2015, operating income was lower than what would have been reported under a fully transitioned revenue model. Revenue Recognition We generate revenue from the following sources: (1) Subscription and software revenue; and (2) Services and other revenue. Four basic criteria must be satisfied before software license revenue can be recognized: persuasive evidence of an arrangement between us and an end user; delivery of our product has occurred; the fee for the product is fixed or determinable; and collection of the fee is probable. Persuasive evidence of an arrangement —We use a signed contract as evidence of an arrangement for software licenses and SMS. For professional services we use a signed contract and a work proposal to evidence an arrangement. In cases where both a signed contract and a purchase order are required by the customer, we consider both taken together as evidence of the arrangement. Delivery of our product —Software and the corresponding access keys are generally delivered to customers via disk media with standard shipping terms of Free Carrier, our warehouse (i.e., FCA, named place) or electronic delivery. Our software license agreements do not contain conditions for acceptance. Fee is fixed or determinable —We assess whether a fee is fixed or determinable at the outset of the arrangement. Significant judgment is involved in making this assessment. Under our historical upfront revenue model, we are able to demonstrate that the fees are fixed or determinable for all arrangements, including those for our term licenses that contain extended payment terms. We have an established history of collecting under the terms of these contracts without providing concessions to customers. In addition, we also assess whether a contract modification to an existing term arrangement constitutes a concession. In making this assessment, significant analysis is performed to ensure that no concessions are given. Our software license agreements do not include a right of return or exchange. For license arrangements executed under the historical upfront revenue model, we recognize license revenue upon delivery of the software product, provided all other revenue recognition requirements are met. We cannot assert that the fees under our aspenONE licensing model and point product arrangements with Premier Plus SMS are fixed or determinable because the rights provided to customers, and the economics of the arrangements, are not comparable to our transactions with other customers under the upfront revenue model. As a result, the amount of revenue recognized for these arrangements is limited by the amount of customer payments that become due. Collection of fee is probable —We assess the probability of collecting from each customer at the outset of the arrangement based on a number of factors, including the customer's payment history, its current creditworthiness, economic conditions in the customer's industry and geographic location, and general economic conditions. If in our judgment collection of a fee is not probable, revenue is recognized as cash is collected, provided all other conditions for revenue recognition have been met. Vendor-Specific Objective Evidence of Fair Value We have established VSOE for professional services and certain training offerings, but not for our software products or our SMS offerings. We assess VSOE for SMS, professional services, and training, based on an analysis of standalone sales of the offerings using the bell-shaped curve approach. We do not have a history of selling our Premier Plus SMS offering to customers on a standalone basis, and as a result are unable to establish VSOE for this deliverable. As of July 1, 2014, we are no longer able to establish VSOE for legacy SMS offerings sold with our perpetual license arrangements. As of July 1, 2015, we were no longer able to establish VSOE for SMS offerings sold with our legacy term license arrangements. As a result, all perpetual license agreements and legacy term agreements that include legacy SMS entered into subsequent to June 30, 2014 and June 30, 2015, respectively, will be recognized ratably over the legacy SMS service period. Loss of VSOE on legacy SMS offerings sold with our perpetual license and legacy term arrangements did not have a material impact on our revenue in fiscal 2016 and is not expected to have a material impact on our revenue in future periods. We allocate the arrangement consideration among the elements included in our multi-element arrangements using the residual method. Under the residual method, the VSOE of the undelivered elements is deferred and the remaining portion of the arrangement fee is recognized as revenue upon delivery of the software, assuming all other revenue recognition criteria are met. If VSOE does not exist for an undelivered element in an arrangement, revenue is deferred until such evidence does exist for the undelivered elements, or until all elements are delivered, whichever is earlier. Under the historical upfront revenue model, the residual license fee is recognized upon delivery of the software provided all other revenue recognition criteria were met. Arrangements that qualified for upfront recognition during fiscal 2014 and prior periods included sales of perpetual licenses, amendments to existing legacy term arrangements and renewals of legacy term arrangements. Subscription and Software Revenue Subscription and software revenue consists of product and related revenue from our (i) aspenONE licensing model; (ii) point product arrangements with our Premier Plus SMS offering included for the contract term; (iii) legacy arrangements including (a) amendments to existing legacy term arrangements, (b) renewals of legacy term arrangements and (c) legacy arrangements that are being recognized over time as a result of not previously meeting one or more of the requirements for recognition under the upfront revenue model; (iv) legacy SMS arrangements; and (v) perpetual arrangements. When a customer elects to license our products under our aspenONE licensing model, our Premier Plus SMS offering is included for the entire term of the arrangement and the customer receives, for the term of the arrangement, the right to any new unspecified future software products and updates that may be introduced into the licensed aspenONE software suite. Due to our obligation to provide unspecified future software products and updates, we are required to recognize revenue ratably over the term of the arrangement, once the other revenue recognition criteria noted above have been met. Our point product arrangements with Premier Plus SMS include SMS for the term of the arrangement. Since we do not have VSOE for our Premier Plus SMS offering, the SMS element of our point product arrangements is not separable. As a result, revenue associated with point product arrangements with Premier Plus SMS included for the contract term is recognized ratably over the term of the arrangement, once the other revenue recognition criteria have been met. Perpetual and legacy term license arrangements do not include the same rights as those provided to customers under the aspenONE licensing model and point product arrangements with Premier Plus SMS. Legacy SMS revenue is generated from legacy SMS offerings provided in support of perpetual and legacy term license arrangements. Customers typically receive SMS for one year and then can elect to renew SMS annually. During fiscal 2014 and prior periods, we had VSOE for certain legacy SMS offerings sold with perpetual and term license arrangements and could therefore separate the undelivered elements. Accordingly, license fee revenue for perpetual and legacy term license arrangements was recognized upon delivery of the software products using the residual method, provided all other revenue recognition requirements were met. VSOE of fair value for the undelivered SMS component sold with our perpetual and term license arrangements was deferred and subsequently amortized into revenue ratably over the contractual term of the SMS arrangement. As of July 1, 2014, we are no longer able to establish VSOE for our legacy SMS offerings sold with our perpetual license arrangements. As of July 1, 2015, we were no longer able to establish VSOE for SMS offerings sold with our legacy term license arrangements. As a result, all perpetual license agreements and legacy term agreements that include legacy SMS entered into subsequent to June 30, 2014 and June 30, 2015, respectively, will be recognized ratably over the legacy SMS service period. Loss of VSOE on legacy SMS offerings sold with our perpetual license and legacy term arrangements did not have a material impact on our revenue in fiscal 2016 and is not expected to have a material impact on our revenue in future periods. Services and Other Revenue Professional Services Revenue Professional services are provided to customers on a time-and-materials (T&M) or fixed-price basis. We recognize professional services fees for our T&M contracts based upon hours worked and contractually agreed-upon hourly rates. Revenue from fixed-price engagements is recognized using the proportional performance method based on the ratio of costs incurred to the total estimated project costs. Project costs are typically expensed as incurred. The use of the proportional performance method is dependent upon our ability to reliably estimate the costs to complete a project. We use historical experience as a basis for future estimates to complete current projects. Additionally, we believe that costs are the best available measure of performance. Out-of-pocket expenses which are reimbursed by customers are recorded as revenue. In certain circumstances, professional services revenue may be recognized over a longer time period than the period over which the services are performed. If the costs to complete a project are not estimable or the completion is uncertain, the revenue is recognized upon completion of the services. In circumstances in which professional services are sold as a single arrangement with, or in contemplation of, a new aspenONE license or point product arrangement with Premier Plus SMS, revenue is deferred and recognized on a ratable basis over the longer of (i) the period the services are performed, or (ii) the license term. When we provide professional services considered essential to the functionality of the software, we recognize the combined revenue from the sale of the software and related services using the completed contract or percentage-of-completion method. We have occasionally been required to commit unanticipated additional resources to complete projects, which resulted in losses on those contracts. Provisions for estimated losses on contracts are made during the period in which such losses become probable and can be reasonably estimated. Training Revenue We provide training services to our customers, including on-site, Internet-based, public and customized training. Revenue is recognized in the period in which the services are performed. In circumstances in which training services are sold as a single arrangement with, or in contemplation of, a new aspenONE license or point product arrangement with Premier Plus SMS, revenue is deferred and recognized on a ratable basis over the longer of (i) the period the services are performed or (ii) the license term. Deferred Revenue Deferred revenue includes amounts billed or collected in advance of revenue recognition, including arrangements under the aspenONE licensing model, point product arrangements with Premier Plus SMS, legacy SMS arrangements, professional services, and training. Under the aspenONE licensing model and for point product arrangements with Premier Plus SMS, VSOE does not exist for the undelivered elements, and as a result, the arrangement fees are recognized ratably (i.e., on a subscription basis) over the term of the license. Deferred revenue is recorded as each invoice becomes due. Other Licensing Matters Our standard licensing agreements include a product warranty provision. We have not experienced significant claims related to software warranties beyond the scope of SMS support, which we are already obligated to provide, and consequently, we have not established reserves for warranty obligations. Our agreements with our customers generally require us to indemnify the customer against claims that our software infringes third-party patent, copyright, trademark or other proprietary rights. Such indemnification obligations are generally limited in a variety of industry-standard respects, including our right to replace an infringing product. As of June 30, 2016 and 2015 , we had not experienced any material losses related to these indemnification obligations and no claims with respect thereto were outstanding. We do not expect significant claims related to these indemnification obligations, and consequently, have not established any related reserves.
Installments Receivable	(g) Installments Receivable Installments receivable resulting from product sales under the upfront revenue model are discounted to present value at prevailing market rates at the date the contract is signed, taking into consideration the customer's credit rating. The finance element is recognized using the effective interest method over the relevant license term and is classified as interest income. Current installments receivable consist of invoices with a due date of less than one year but greater than 45 days from the period-end date. Once an installments receivable invoice becomes due within 45 days, it is reclassified as a trade accounts receivable in our consolidated balance sheets. As a result, we did not have any past due installments receivable as of June 30, 2016 . Our non-current installments receivable are within the scope of Accounting Standards Update (ASU) No. 2010-20, Receivables (Topic 310): Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses . As our portfolio of financing receivables arises from the sale of our software licenses, the methodology for determining our allowance for doubtful accounts is based on the collective population of receivables and is not stratified by class or portfolio segment. We consider factors such as existing economic conditions, country risk, customers' credit rating and past payment history in determining our allowance for doubtful accounts. We reserve against our installments receivable when the related trade accounts receivable have been past due for over a year, or when there is a specific risk of uncollectability. Our specific reserve reflects the full value of the related installments receivable for which collection has been deemed uncertain. We transfer an installment receivable reserve balance into a trade accounts receivable allowance when an installment receivable ages into a trade account receivable. We write-off receivables when they are considered uncollectable based on our judgment. In instances when we write-off specific customers' trade accounts receivable, we also write off any related current and non-current installments receivable balances. As of June 30, 2016 and June 30, 2015 , our current installments receivable of $0.3 million and $1.6 million , respectively, are included within prepaid expenses and other current assets in our consolidated balance sheets. As of June 30, 2015, our non-current installments receivable of $0.3 million is included within other non-current assets in our consolidated balance sheets. Under the aspenONE licensing model and for point product arrangements with Premier Plus SMS included for the contract term, the installment payments are not considered fixed or determinable and, as a result, are not included as installments receivable on our consolidated balance sheet.
Allowance for Doubtful Accounts and Discounts	(h) Allowance for Doubtful Accounts and Discounts We make judgments as to our ability to collect outstanding receivables and provide allowances for the portion of receivables when a loss is reasonably expected to occur. The allowance for doubtful accounts is established to represent the best estimate of the net realizable value of the outstanding accounts receivable. The development of the allowance for doubtful accounts is based on a review of past due amounts, historical write-off and recovery experience, as well as aging trends affecting specific accounts and general operational factors affecting all accounts. In addition, factors are developed utilizing historical trends in bad debts and allowances. We consider current economic trends when evaluating the adequacy of the allowance for doubtful accounts. If circumstances relating to specific customers change or unanticipated changes occur in the general business environment, our estimates of the recoverability of receivables could be further adjusted. The following table presents our allowance for doubtful accounts activity for accounts receivable in fiscal 2016 and 2015 , respectively: Year Ended June 30, 2016 2015 (Dollars in Thousands) Balance, beginning of year $ 1,636 $ 3,465 Provision for bad debts 1,032 (1,032 ) Write-offs (1,064 ) (797 ) Balance, end of year $ 1,604 $ 1,636 The following table summarizes our accounts receivable, net of the related allowance for doubtful accounts, as of June 30, 2016 and 2015 : Gross Allowance Net (Dollars in Thousands) June 30, 2016: Accounts Receivable $ 22,080 $ 1,604 $ 20,476 $ 22,080 $ 1,604 $ 20,476 June 30, 2015: Accounts Receivable $ 32,357 $ 1,636 $ 30,721 $ 32,357 $ 1,636 $ 30,721
Fair Value of Financial Instruments	(i) Fair Value of Financial Instruments We determine fair value of financial and non-financial assets and liabilities in accordance with provisions of ASC Topic 820, Fair Value Measurements and Disclosures (ASC 820). ASC 820 defines fair value as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. ASC 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities, and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 Inputs—Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs—Inputs other than quoted prices included in Level 1 that are observable for an asset or a liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for an asset or a liability (such as interest rates, yield curves, volatilities, prepayment speeds, credit risks, etc.), or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs—Unobservable inputs for determining fair values of assets or liabilities that reflect an entity's own assumptions in pricing assets or liabilities. Cash Equivalents. Cash equivalents are reported at fair value utilizing quoted market prices in identical markets, or "Level 1 Inputs." Our cash equivalents consist of short-term, highly liquid investments with remaining maturities of three months or less when purchased. Marketable Securities. Marketable securities are reported at fair value calculated in accordance with the market approach, utilizing market consensus pricing models with quoted prices that are directly or indirectly observable, or "Level 2 Inputs". Financial instruments not measured or recorded at fair value in the accompanying consolidated financial statements consist of cash, accounts receivable, installments receivable, accounts payable and accrued liabilities. The estimated fair value of these financial instruments approximates their carrying value. The estimated fair value of the borrowings under the credit agreement approximates its carrying value due to the floating interest rate. The following table summarizes financial assets and financial liabilities measured and recorded at fair value on a recurring basis in the accompanying consolidated balance sheets as of June 30, 2016 and 2015 , segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Fair Value Measurements at Reporting Date Using, Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs) Significant Other Observable Inputs (Level 2 Inputs) (Dollars in Thousands) June 30, 2016: Cash equivalents $ 286,200 $ — Marketable securities — 3,006 June 30, 2015: Cash equivalents $ 130,232 $ — Marketable securities — 62,244 At June 30, 2016 and 2015 , we did not have any assets or liabilities measured at fair value on a recurring basis using significant unobservable inputs ("Level 3 Inputs"). Certain non-financial assets, including goodwill, finite-lived intangible assets and other non-financial long-lived assets, are measured at fair value using market and income approaches on a non-recurring basis when there is an indication of impairment.
Computer Software Development Costs	(j) Computer Software Development Costs Certain computer software development costs are capitalized in the accompanying consolidated balance sheets. Capitalization of computer software development costs begins upon establishing technological feasibility defined as meeting specifications determined by the program design. Amortization of capitalized computer software development costs is provided on a product-by-product basis using the greater of (a) the amount computed using the ratio that current gross revenue for a product bears to total of current and anticipated future gross revenue for that product or (b) the straight-line method, beginning upon commercial release of the product, and continuing over the remaining estimated economic life of the product, not to exceed three years . Total computer software costs capitalized were $0.3 million , $0.4 million and $0.7 million during the years ended June 30, 2016 , 2015 and 2014 , respectively. Total amortization expense charged to operations was approximately $0.6 million , $0.7 million and $1.0 million for the years ended June 30, 2016 , 2015 and 2014 , respectively. Computer software development accumulated amortization totaled $73.8 million and $73.3 million as of June 30, 2016 and 2015 , respectively. Weighted average remaining useful life of computer software development costs was 0.7 years and 1.1 years at June 30, 2016 and 2015 , respectively. At each balance sheet date, we evaluate the unamortized capitalized software costs for potential impairment by comparing the balance to the net realizable value of the products. During the years ending June 30, 2016 , 2015 and 2014 , our computer software development costs were not considered impaired and as such, we did not recognize impairment losses during the periods then ended.
Foreign Currency Transactions	(k) Foreign Currency Translation The determination of the functional currency of subsidiaries is based on the subsidiaries' financial and operational environment and is the local currency of the subsidiary. Gains and losses from foreign currency translation related to entities whose functional currency is their local currency are credited or charged to accumulated other comprehensive income included in stockholders' (deficit) equity in the consolidated balance sheets. In all instances, foreign currency transaction and remeasurement gains or losses are credited or charged to the consolidated statements of operations as incurred as a component of other income (expense), net. Net foreign currency transaction and remeasurement gains (losses) were less than $0.1 million , $(0.8) million and $(2.3) million in fiscal 2016 , 2015 and 2014 , respectively. Fiscal 2016 other income (expense), net included $3.4 million of foreign currency exchange losses related to the Acquisition Bid (refer to Note 4, Acquisitions, for further discussion).
Net Income (Loss) Per Share	(l) Net Income Per Share Basic income per share is determined by dividing net income by the weighted average common shares outstanding during the period. Diluted income per share is determined by dividing net income by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and other commitments to be settled in common stock are included in the calculation of diluted income per share based on the treasury stock method. For the years ended June 30, 2016 , 2015 and 2014 , certain employee equity awards were anti-dilutive based on the treasury stock method. The calculations of basic and diluted net income (loss) per share and basic and diluted weighted average shares outstanding are as follows: Year Ended June 30, 2016 2015 2014 (Dollars and Shares in Thousands, Except per Share Data) Net income $ 139,951 $ 118,407 $ 85,783 Weighted average shares outstanding 82,892 88,398 92,648 Dilutive impact from: Employee equity awards 417 618 1,017 Dilutive weighted average shares outstanding 83,309 89,016 93,665 Income per share Basic $ 1.69 $ 1.34 $ 0.93 Dilutive $ 1.68 $ 1.33 $ 0.92 The following potential common shares were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive at the balance sheet date: Year Ended June 30, 2016 2015 2014 (Shares in Thousands) Employee equity awards 1,028 587 291
Concentration of Credit Risk	(m) Concentration of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk are principally cash and cash equivalents, marketable securities, accounts receivable and installments receivable. Our cash is held in financial institutions and our cash equivalents are invested in money market mutual funds that we believe to be of high credit quality. At June 30, 2016 , our investments in marketable securities consist primarily of investment grade fixed income corporate debt securities with maturities of less than 2 months . We diversify our investment portfolio by investing in multiple types of investment-grade securities and attempt to mitigate a risk of loss by using a third-party investment manager. Concentration of credit risk with respect to receivables is limited to certain customers to which we make substantial sales. To reduce risk, we assess the financial strength of our customers. We do not require collateral or other security in support of our receivables. As of June 30, 2016 , we had two customer receivable balances that represented approximately 10% and 15% of our total receivables. As of June 30, 2015 , we had one customer receivable balance that represented approximately 11% of our total receivables and was collected subsequent to June 30, 2015 .
Computer Software Developed for Internal Use	(n) Computer Software Developed for Internal Use and Long-Lived Assets Computer Software Developed for Internal Use: Computer software developed for internal use is capitalized in accordance with ASC Topic 350-40, Intangibles Goodwill and Other—Internal Use Software . We capitalize direct labor costs incurred to develop internal-use software during the application development stage after determining software technological requirements and obtaining management approval for funding projects probable of completion. In fiscal 2016 there were no capitalized direct labor costs associated with our development of software for internal use. In fiscal 2015 and 2014 , we capitalized direct labor costs of $0.3 million and $0.8 million , respectively, associated with our development of software for internal use. These costs are included within property, plant and equipment in our consolidated balance sheets.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets: We evaluate our long-lived assets, which include finite-lived intangible assets, property and leasehold improvements for impairment as events and circumstances indicate that the carrying amount of an asset or a group of assets may not be recoverable. We assess the recoverability of the asset or a group of assets based on the undiscounted future cash flows the asset is expected to generate, and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset are less than its carrying value. If an asset or a group of assets are deemed to be impaired, the amount of the impairment loss, if any, represents the excess of the asset's or a group of assets' carrying value compared to their estimated fair values.
Comprehensive Income	(o) Comprehensive Income Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income (loss) and its components for fiscal 2016 , 2015 and 2014 are disclosed in the accompanying consolidated statements of comprehensive income. As of June 30, 2016 , 2015 and 2014 , accumulated other comprehensive income is comprised of foreign translation adjustments of $2.7 million , $6.5 million $9.4 million , respectively, and net unrealized gains (losses) on available for sale securities of less than ($0.1) million , $(0.1) million and $0.1 million , respectively.
Accounting for Stock-Based Compensation	(p) Accounting for Stock-Based Compensation Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the vesting period.
Income Taxes	(q) Income Taxes Deferred income taxes are recognized based on temporary differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using the statutory tax rates and laws expected to apply to taxable income in the years in which the temporary differences are expected to reverse. Valuation allowances are provided against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the timing of the temporary differences becoming deductible. Management considers, among other available information, scheduled reversals of deferred tax liabilities, projected future taxable income, limitations of availability of net operating loss carryforwards, and other matters in making this assessment. We do not provide deferred taxes on unremitted earnings of foreign subsidiaries since we intend to indefinitely reinvest either currently or sometime in the foreseeable future. Unrecognized provisions for taxes on undistributed earnings of foreign subsidiaries, which are considered indefinitely reinvested, are not material to our consolidated financial position or results of operations. We are continuously subject to examination by the IRS, as well as various state and foreign jurisdictions. The IRS and other taxing authorities may challenge certain deductions and credits reported by us on our income tax returns. In accordance with provisions of ASC Topic 740, Income Taxes (ASC 740), an entity should recognize a tax benefit when it is more-likely-than-not, based on the technical merits, that the position would be sustained upon examination by a taxing authority. The amount to be recognized, if the more-likely-than-not threshold was passed, should be measured as the largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Furthermore, any change in the recognition, de-recognition or measurement of a tax position should be recorded in the period in which the change occurs. We account for interest and penalties related to uncertain tax positions as part of the provision for income taxes.
Loss Contingencies	(r) Loss Contingencies We accrue estimated liabilities for loss contingencies arising from claims, assessments, litigation and other sources when it is probable that a liability has been incurred and the amount of the claim assessment or damages can be reasonably estimated. We believe that we have sufficient accruals to cover any obligations resulting from claims, assessments or litigation that have met these criteria. Refer to Note 12 for discussion of these matters and related liability accruals.
Advertising Costs	(s) Advertising Costs Advertising costs are expensed as incurred and are classified as sales and marketing expenses. We incurred advertising expenses of $2.3 million , $2.9 million and $2.1 million during fiscal 2016 , 2015 and 2014 , respectively.
Research and Development Expense	(t) Research and Development Expense We charge research and development expenditures to expense as the costs are incurred. Research and development expenses consist primarily of personnel expenses related to the creation of new products, enhancements and engineering changes to existing products and costs of acquired technology prior to establishing technological feasibility. During fiscal 2016 , 2015 and 2014 , we acquired certain technologies for $0.3 million , $3.3 million and $4.9 million , respectively. At the time we acquired the technology, the project to develop a commercially available product did not meet the definition of having reached technological feasibility and as such, the entire cost of the acquired technology was expensed as research and development expense.
Recent Accounting Pronouncements	(u) Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU No. 2014-09 was issued by the FASB as a part of the joint project with the International Accounting Standards Board (IASB) to clarify revenue recognition principles and develop a common revenue standard for the U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). ASU No. 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption of ASU No. 2014-09 is permitted but not before December 15, 2016. The amendments included within ASU No. 2014-09 should be applied by using one of the following methods: Retrospectively to each prior reporting period presented. The entity may elect any of the practical expedients described in ASU No. 2014-09 when applying this method. Retrospectively with the cumulative effect of initially applying ASU No. 2014-09 recognized at the date of initial application. In the reporting periods that include the date of the initial application of ASU No. 2014-09, the entity should disclose the amount by which each financial statement line item is affected by the application of ASU No. 2014-09 in the current reporting period as compared to the guidance that was in effect before the change. We will adopt ASU No. 2014-09 during the first quarter of fiscal 2019. We are currently evaluating the impact of ASU No. 2014-09 on our financial position, results of operations and cash flows. In April 2015, the FASB issued ASU No. 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement . The amendment provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not include a software license, the customer should account for a cloud computing arrangement as a service contract. The amendment will be effective for annual reporting periods beginning on or after December 15, 2015. We are currently evaluating the impact of ASU No. 2015-05 on our financial position, results of operations and cash flows. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . ASU 2015-03 amends current presentation guidance by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Prior to the issuance of ASU No. 2015-03, debt issuance costs were required to be presented as an asset on the balance sheet. In August 2015, the FASB issued ASU No. 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements . ASU No. 2015-15 states that debt issuance costs related to line of credit arrangements can be presented as an asset, similar to the treatment prior to the issuance of ASU No. 2015-03. We adopted the provisions of ASU No. 2015-03 and ASU No. 2015-15 during the second quarter of fiscal 2016. As of June 30, 2016, the issuance costs related to our Credit Agreement (as described in Note 9) were recorded in prepaid expenses and other current assets in our consolidated balance sheet. Adjustments to prior periods to conform to the current period presentation were not required as we did not have deferred finance costs on the balance sheet in prior periods. In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments , which eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. The ASU instead requires an acquirer to recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment. The ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. We adopted ASU No. 2015-16 during the second quarter of fiscal 2016. The adoption of ASU No. 2015-16 did not have a material impact our consolidated financial position, results of operations or cash flows. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes, which simplifies the presentation of deferred income taxes by removing the requirement to bifurcate deferred income tax assets and liabilities between current and non-current. The ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2016. Early adoption is permitted. The Company elected early adoption in the fourth quarter of fiscal 2016, and deferred income tax assets and liabilities are presented as non-current in the consolidated balance sheets at June 30, 2016. This adoption was applied prospectively and prior periods have not been reclassified. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) . Under the amendment, lessees will be required to recognize virtually all of their leases on the balance sheet, by recording a right-of-use asset and lease liability. The ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2016-02 on our financial position, results of operations and cash flows. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) . The amendment clarifies the implementation guidance for principal versus agent considerations as contained in ASU No. 2014-09, Revenue from Contracts with Customers . The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to a customer. ASU No. 2016-08 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption of ASU No. 2016-08 is permitted but not before December 15, 2016. We will adopt ASU No. 2016-08 during the first quarter of fiscal 2019. We are currently evaluating the impact of ASU No. 2016-08 on our financial position, results of operations and cash flows. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . The amendment identifies several areas for simplification applicable to entities that issue share-based payment awards to their employees, including income tax consequences, the option to recognize gross stock compensation expense with actual forfeitures recognized when they occur, and certain classifications on the statements of cash flows. The ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2016. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2016-09 on our financial position, results of operations and cash flows. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing . The amendment clarifies the process of identifying performance obligations and the licensing implementation guidance as contained in ASU No. 2014-09, Revenue from Contracts with Customers . ASU No. 2016-10 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption of ASU No. 2016-10 is permitted but not before December 15, 2016. We will adopt ASU No. 2016-10 during the first quarter of fiscal 2019. We are currently evaluating the impact of ASU No. 2016-10 on our financial position, results of operations and cash flows. In May 2016, the FASB issued ASU No. 2016-11, Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting . The amendment rescinds certain SEC comments as codified in ASC Topic 605, Revenue Recognition , effective upon the adoption of ASU No. 2014-09, Revenue from Contracts with Customers . ASU No. 2016-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption of ASU No. 2016-09 is permitted but not before December 15, 2016. We will adopt ASU No. 2016-09 during the first quarter of fiscal 2019. We are currently evaluating the impact of ASU No. 2016-09 on our financial position, results of operations and cash flows. In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients . The amendment clarifies issues such as assessing collectibility, noncash considerations, contract modifications, and completed contracts at transition as contained in ASU No. 2014-09, Revenue from Contracts with Customers . ASU No. 2016-12 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption of ASU No. 2016-12 is permitted but not before December 15, 2016. We will adopt ASU No. 2016-12 during the first quarter of fiscal 2019. We are currently evaluating the impact of ASU No. 2016-12 on our financial position, results of operations and cash flows.

Intangible Assets (Policies)

Intangible Assets (Policies)	12 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets We include in our amortizable intangible assets those intangible assets acquired in our business and asset acquisitions. We amortize acquired intangible assets with finite lives over their estimated economic lives, generally using the straight-line method. Each period, we evaluate the estimated remaining useful lives of acquired intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of amortization. Acquired intangibles are removed from the accounts when fully amortized and no longer in use. Intangible assets consist of the following as of June 30, 2016 and 2015 : Gross Carrying Amount Accumulated Amortization Effect of currency translation Net Carrying Amount Weighted Average Remaining Life (in Years) (Dollars in Thousands) June 30, 2016: Technology and patents $ 3,696 $ (2,046 ) $ (550 ) $ 1,100 10.0 In process research & development 3,200 — — $ 3,200 11.0 Customer relationships 700 — — $ 700 8.0 Total $ 7,596 $ (2,046 ) $ (550 ) $ 5,000 10.4 June 30, 2015: Technology and patents $ 2,596 $ (2,646 ) $ 197 $ 147 0.4 Total $ 2,596 $ (2,646 ) $ 197 $ 147 0.4 Amortization expense for technology and patents is included in operating expenses and amounted to $0.1 million , $0.7 million and $0.9 million in fiscal 2016 , 2015 and 2014 , respectively. Amortization expense is expected to be approximately $0.2 million in fiscal 2017 , $0.5 million in fiscal 2018 , $0.5 million in fiscal 2019 , $0.5 million in fiscal 2020 , $0.5 million in fiscal 2021 , and $2.8 million thereafter.

Goodwill (Policies)

Goodwill (Policies)	12 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	The changes in the carrying amount of goodwill for our subscription and software reporting unit during fiscal years ending June 30, 2016 and 2015 were as follows: Amount (Dollars in Thousands) Balance as of June 30, 2014: Goodwill $ 84,845 Accumulated impairment losses (65,569 ) $ 19,276 Effect of currency translation (1,916 ) Balance as of June 30, 2015: Goodwill $ 82,929 Accumulated impairment losses (65,569 ) $ 17,360 Acquisition 6,784 Effect of currency translation (706 ) Balance as of June 30, 2016: Goodwill $ 89,007 Accumulated impairment losses (65,569 ) $ 23,438 We test goodwill for impairment annually (or more often if impairment indicators arise), at the reporting unit level. We first assess qualitative factors to determine whether the existence of events or circumstances indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If we determine based on this assessment that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we perform the two-step goodwill impairment test. The first step requires us to determine the fair value of the reporting unit and compare it to the carrying amount, including goodwill, of such reporting unit. If the fair value exceeds the carrying amount, no impairment loss is recognized. However, if the carrying amount of the reporting unit exceeds its fair value, the goodwill of the unit may be impaired. The amount of impairment, if any, is measured based upon the implied fair value of goodwill at the valuation date. Fair value of a reporting unit is determined using a combined weighted average of a market-based approach (utilizing fair value multiples of comparable publicly traded companies) and an income-based approach (utilizing discounted projected cash flows). In applying the income-based approach, we would be required to make assumptions about the amount and timing of future expected cash flows, growth rates and appropriate discount rates. The amount and timing of future cash flows would be based on our most recent long-term financial projections. The discount rate we would utilize would be determined using estimates of market participant risk-adjusted weighted-average costs of capital and reflect the risks associated with achieving future cash flows. We have elected December 31 st as the annual impairment assessment date and perform additional impairment tests if triggering events occur. We performed our annual impairment test for the subscription and software reporting unit as of December 31, 2015 and, based upon the results of our qualitative assessment, determined that it was not likely that its fair value was less than its carrying amount. As such, we did not perform the two-step goodwill impairment test and did not recognize impairment losses as a result of our analysis. If an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value, goodwill will be evaluated for impairment between annual tests. No triggering events indicating goodwill impairment occurred during fiscal 2016 , 2015 and 2014 .

Significant Accounting Polici27

Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of the fair value, the amortized cost and unrealized holding gains (losses) on marketable securities	The following table summarizes the fair value, the amortized cost and unrealized holding gains (losses) on our marketable securities as of June 30, 2016 and 2015 : Fair Value Cost Unrealized Gains Unrealized Losses (Dollars in Thousands) June 30, 2016: U.S. corporate bonds with maturities less than one year $ 3,006 $ 3,006 $ — $ — Total short-term marketable securities $ 3,006 $ 3,006 $ — $ — June 30, 2015: U.S. corporate bonds with maturities less than one year $ 59,197 $ 59,223 $ 8 $ (34 ) Total short-term marketable securities $ 59,197 $ 59,223 $ 8 $ (34 ) U.S. corporate bonds with maturities greater than one year $ 3,047 $ 3,055 $ — $ (8 ) Total long-term marketable securities $ 3,047 $ 3,055 $ — $ (8 )
Property and equipment, estimated useful lives	We provide for depreciation and amortization, primarily computed using the straight-line method, by charges to operations in amounts estimated to allocate the cost of the assets over their estimated useful lives, as follows: Asset Classification Estimated Useful Life Computer equipment 3 years Purchased software 3 - 5 years Furniture and fixtures 3 - 10 years Leasehold improvements Life of lease or asset, whichever is shorter
Allowance for doubtful accounts activity for accounts receivable	The following table presents our allowance for doubtful accounts activity for accounts receivable in fiscal 2016 and 2015 , respectively: Year Ended June 30, 2016 2015 (Dollars in Thousands) Balance, beginning of year $ 1,636 $ 3,465 Provision for bad debts 1,032 (1,032 ) Write-offs (1,064 ) (797 ) Balance, end of year $ 1,604 $ 1,636
Accounts receivable, net balances	The following table summarizes our accounts receivable, net of the related allowance for doubtful accounts, as of June 30, 2016 and 2015 : Gross Allowance Net (Dollars in Thousands) June 30, 2016: Accounts Receivable $ 22,080 $ 1,604 $ 20,476 $ 22,080 $ 1,604 $ 20,476 June 30, 2015: Accounts Receivable $ 32,357 $ 1,636 $ 30,721 $ 32,357 $ 1,636 $ 30,721
Financial assets and financial liabilities measured and recorded at fair value on a recurring basis	The following table summarizes financial assets and financial liabilities measured and recorded at fair value on a recurring basis in the accompanying consolidated balance sheets as of June 30, 2016 and 2015 , segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Fair Value Measurements at Reporting Date Using, Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs) Significant Other Observable Inputs (Level 2 Inputs) (Dollars in Thousands) June 30, 2016: Cash equivalents $ 286,200 $ — Marketable securities — 3,006 June 30, 2015: Cash equivalents $ 130,232 $ — Marketable securities — 62,244
Calculations of basic and diluted net income (loss) per share	The calculations of basic and diluted net income (loss) per share and basic and diluted weighted average shares outstanding are as follows: Year Ended June 30, 2016 2015 2014 (Dollars and Shares in Thousands, Except per Share Data) Net income $ 139,951 $ 118,407 $ 85,783 Weighted average shares outstanding 82,892 88,398 92,648 Dilutive impact from: Employee equity awards 417 618 1,017 Dilutive weighted average shares outstanding 83,309 89,016 93,665 Income per share Basic $ 1.69 $ 1.34 $ 0.93 Dilutive $ 1.68 $ 1.33 $ 0.92
Potential common shares excluded from calculation of dilutive weighted average shares outstanding	The following potential common shares were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive at the balance sheet date: Year Ended June 30, 2016 2015 2014 (Shares in Thousands) Employee equity awards 1,028 587 291

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Property, equipment and leasehold improvements	Property, equipment and leasehold improvements in the accompanying consolidated balance sheets consist of the following: Year Ended June 30, 2016 2015 (Dollars in Thousands) Property, equipment and leasehold improvements—at cost: Computer equipment $ 10,387 $ 11,614 Purchased software 23,705 23,338 Furniture & fixtures 6,712 6,653 Leasehold improvements 12,523 12,225 Accumulated depreciation (37,502 ) (35,791 ) Property, equipment and leasehold improvements—net $ 15,825 $ 18,039

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	A preliminary allocation of the purchase price is as follows. The valuation of acquired intangible assets and the deferred tax liabilities are considered preliminary as of June 30, 2016. Amount (Dollars in Thousands) Tangible assets acquired, net $ 65 Identifiable intangible assets: Developed technology 1,100 Customer relationships 700 In-process Research and Development 3,200 Goodwill 6,784 Deferred tax liabilities, net (1,849 ) Total assets acquired $ 10,000

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	Intangible assets consist of the following as of June 30, 2016 and 2015 : Gross Carrying Amount Accumulated Amortization Effect of currency translation Net Carrying Amount Weighted Average Remaining Life (in Years) (Dollars in Thousands) June 30, 2016: Technology and patents $ 3,696 $ (2,046 ) $ (550 ) $ 1,100 10.0 In process research & development 3,200 — — $ 3,200 11.0 Customer relationships 700 — — $ 700 8.0 Total $ 7,596 $ (2,046 ) $ (550 ) $ 5,000 10.4 June 30, 2015: Technology and patents $ 2,596 $ (2,646 ) $ 197 $ 147 0.4 Total $ 2,596 $ (2,646 ) $ 197 $ 147 0.4

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in carrying amount of goodwill by reporting unit	The changes in the carrying amount of goodwill for our subscription and software reporting unit during fiscal years ending June 30, 2016 and 2015 were as follows: Amount (Dollars in Thousands) Balance as of June 30, 2014: Goodwill $ 84,845 Accumulated impairment losses (65,569 ) $ 19,276 Effect of currency translation (1,916 ) Balance as of June 30, 2015: Goodwill $ 82,929 Accumulated impairment losses (65,569 ) $ 17,360 Acquisition 6,784 Effect of currency translation (706 ) Balance as of June 30, 2016: Goodwill $ 89,007 Accumulated impairment losses (65,569 ) $ 23,438

Accrued Expenses and Other Li32

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Jun. 30, 2016
Balance Sheet Related Disclosures [Abstract]
Accrued expenses and other current liabilities	Accrued expenses and other current liabilities in the accompanying consolidated balance sheets consist of the following: Year Ended June 30, 2016 2015 (Dollars in Thousands) Royalties and outside commissions $ 2,640 $ 2,879 Payroll and payroll-related 17,809 18,965 Other 15,656 16,639 Total accrued expenses and other current liabilities $ 36,105 $ 38,483
Other non-current liabilities	Other non-current liabilities in the accompanying consolidated balance sheets consist of the following: Year Ended June 30, 2016 2015 (Dollars in Thousands) Deferred rent $ 6,361 $ 5,273 Uncertain tax positions 23,535 19,870 Other 2,695 4,379 Total other non-current liabilities $ 32,591 $ 29,522

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted average assumptions	We utilized the Black-Scholes option valuation model with the following weighted average assumptions: Year Ended June 30, 2016 2015 2014 Risk-free interest rate 1.4 % 1.5 % 1.3 % Expected dividend yield None None None Expected life (in years) 4.6 4.6 4.6 Expected volatility factor 34 % 35 % 39 %
Stock-based compensation expense	The stock-based compensation expense and its classification in the accompanying consolidated statements of operations for fiscal 2016 , 2015 and 2014 was as follows: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Recorded as expenses: Cost of service and other $ 1,390 $ 1,351 $ 1,239 Selling and marketing 4,351 3,056 3,280 Research and development 3,423 3,881 4,129 General and administrative 6,563 6,296 5,408 Total stock-based compensation $ 15,727 $ 14,584 $ 14,056
Stock options and RSU activity	A summary of stock option and RSU activity under all equity plans in fiscal 2016 is as follows: Stock Options Restricted Stock Units Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in 000's) Shares Weighted Average Grant Date Fair Value Outstanding at June 30, 2015 1,214,257 $ 27.25 7.26 $ 22,232 542,432 $ 36.13 Granted 428,083 42.66 422,120 41.86 Settled (RSUs) (341,496 ) 35.74 Exercised (201,706 ) 19.44 Cancelled / Forfeited (126,492 ) 37.61 (129,724 ) 37.09 Outstanding at June 30, 2016 1,314,142 $ 32.47 7.23 $ 12,340 493,332 $ 41.06 Exercisable at June 30, 2016 836,756 $ 27.46 6.40 $ 11,485 Vested and expected to vest at June 30, 2016 1,265,478 $ 32.10 7.18 $ 12,280 443,222 $ 40.97

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income before provision for income taxes	Income before provision for income taxes consists of the following: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Domestic $ 201,885 $ 175,805 $ 121,329 Foreign 8,754 3,666 7,204 Income before provision for income taxes $ 210,639 $ 179,471 $ 128,533
Provision for income taxes	The provision for income taxes shown in the accompanying consolidated statements of operations is composed of the following: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Federal— Current $ 56,535 $ — $ — Deferred 7,496 55,895 32,996 State— Current 1,866 2,176 528 Deferred 204 729 1,005 Foreign— Current 4,554 3,382 7,785 Deferred 33 (1,118 ) 436 $ 70,688 $ 61,064 $ 42,750
Income tax reconciliation based on federal statutory rate	The provision for income taxes differs from that based on the federal statutory rate due to the following: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Federal tax provision at statutory rate $ 73,723 $ 62,815 $ 44,989 State income taxes 1,153 2,114 78 Subpart F and dividend income 3,581 2,799 6,667 Foreign taxes and rate differences (663 ) (222 ) 1,881 Stock-based compensation 1,359 763 631 Tax credits (3,867 ) (3,562 ) (8,902 ) Tax contingencies (581 ) (641 ) (261 ) Return to provision adjustments 658 384 150 Domestic Production Activity Deduction (4,892 ) (3,600 ) (2,443 ) Valuation allowance 49 176 (16 ) Other 168 38 (24 ) Provision for income taxes $ 70,688 $ 61,064 $ 42,750
Deferred tax assets and liabilities	Deferred tax assets (liabilities) consist of the following at June 30, 2016 and 2015 : Year Ended June 30, 2016 2015 (Dollars in Thousands) Deferred tax assets: Federal and state credits $ 1,270 $ 2,144 Capital loss carryforwards 8,073 8,028 Foreign loss carryforwards 1,742 2,133 Deferred revenue 7,821 5,620 Other reserves and accruals 6,762 6,838 Intangible assets 1,616 2,478 Property, leasehold improvements, and other basis differences 1,853 2,136 Other temporary differences 870 2,916 30,007 32,293 Deferred tax liabilities: Deferred revenue (1,276 ) (1,362 ) Intangible assets (2,912 ) (1,065 ) Property, leasehold improvements, and other basis differences (3,305 ) (2,812 ) Other temporary differences (508 ) (645 ) (8,001 ) (5,884 ) Valuation allowance (10,119 ) (10,144 ) Net deferred tax assets $ 11,887 $ 16,265
Reconciliation of reserve for uncertain tax positions	A reconciliation of the reserve for uncertain tax positions is as follows: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Uncertain tax positions, beginning of year $ 19,870 $ 21,193 $ 22,031 Gross increases—tax positions in prior period 67 238 112 Gross increases—tax positions in current period 5,474 — — Gross decreases—lapse of statutes (1,772 ) (1,024 ) (823 ) Currency translation adjustment (104 ) (537 ) (127 ) Uncertain tax positions, end of year $ 23,535 $ 19,870 $ 21,193

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum lease payments	Future minimum lease payments under these leases as of June 30, 2016 are as follows: Year Ended June 30, Operating Leases (Dollars in Thousands) 2017 $ 5,973 2018 6,815 2019 7,475 2020 6,979 2021 5,733 Thereafter 16,703 Total $ 49,678

Segment and Geographic Inform36

Segment and Geographic Information (Tables)	12 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Summary of reportable segments' profits	The following table presents a summary of our reportable segments' profits: Subscription Services Total (Dollars in Thousands) Year Ended June 30, 2016: Segment revenue $ 440,408 $ 31,936 $ 472,344 Segment expenses(1) (179,064 ) (28,235 ) (207,299 ) Segment profit $ 261,344 $ 3,701 $ 265,045 Year Ended June 30, 2015: Segment revenue $ 405,640 $ 34,761 $ 440,401 Segment expenses(1) (183,485 ) (28,411 ) (211,896 ) Segment profit $ 222,155 $ 6,350 $ 228,505 Year Ended June 30, 2014: Segment revenue $ 350,486 $ 40,967 $ 391,453 Segment expenses(1) (183,378 ) (32,547 ) (215,925 ) Segment profit $ 167,108 $ 8,420 $ 175,528 ____________________________________________ (1) Our reportable segments’ operating expenses include expenses directly attributable to the segments. Segment expenses include selling and marketing, research and development, stock-based compensation and certain corporate expenses incurred in support of the segments. Segment expenses do not include allocations of general and administrative; interest income, net; and other income (expense), net.
Reconciliation of total segment operating profit to income before provision for income taxes	The following table presents a reconciliation of total segment operating profit to income before provision for income taxes: Year Ended June 30, 2016 2015 2014 (Dollars in Thousands) Total segment profit for reportable segments $ 265,045 $ 228,505 $ 175,528 General and administrative (53,664 ) (48,713 ) (45,804 ) Other income (expense), net 29 (778 ) (2,278 ) Interest income (net) (771 ) 457 1,087 Income before provision for income taxes $ 210,639 $ 179,471 $ 128,533
Domestic and international Sales as a Percentage of total revenue	Revenue to external customers is attributed to individual countries based on the location the product or services are sold. Domestic and international sales as a percentage of total revenue are as follows: Year Ended June 30, 2016 2015 2014 United States 35.4 % 34.6 % 35.5 % Europe 29.6 30.6 30.2 Other(1) 35.0 34.8 34.3 100.0 % 100.0 % 100.0 % ____________________________________________ (1) Other consists primarily of Asia Pacific, Canada, Latin America and the Middle East.

Quarterly Financial Data (Una37

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Jun. 30, 2016
Quarterly Financial Data [Abstract]
Quarterly consolidated statement of operations data	The following tables present quarterly consolidated statement of operations data for fiscal 2016 and 2015 . The below data is unaudited but, in our opinion, reflects all adjustments necessary for a fair presentation of this data in accordance with GAAP: Three Months Ended June 30, March 31, December 31, 2015 September 30, (Dollars and Shares in Thousands, Except per Share Data) Total revenue $ 113,680 $ 119,217 $ 119,151 $ 120,296 Gross profit 101,949 107,197 107,263 107,324 Income from operations 48,972 50,681 56,299 55,429 Net income 33,326 33,171 36,683 36,771 Net income per common share: Basic $ 0.41 $ 0.40 $ 0.44 $ 0.44 Diluted $ 0.41 $ 0.40 $ 0.44 $ 0.44 Weighted average shares outstanding: Basic 81,282 83,081 83,315 83,876 Diluted 81,599 83,373 83,703 84,320 Three Months Ended June 30, March 31, December 31, 2014 September 30, (Dollars and Shares in Thousands, Except per Share Data) Total revenue $ 114,186 $ 111,299 $ 107,790 $ 107,126 Gross profit 101,565 98,990 95,525 94,745 Income from operations 46,906 41,731 46,521 44,634 Net income 30,806 28,170 30,464 28,967 Net income per common share: Basic $ 0.36 $ 0.32 $ 0.34 $ 0.32 Diluted $ 0.36 $ 0.32 $ 0.34 $ 0.32 Weighted average shares outstanding: Basic 85,056 87,355 89,942 91,183 Diluted 85,585 87,853 90,471 91,891

Operations - Narrative (Details

Operations - Narrative (Details)	Jun. 30, 2016country
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries of operations	31

Significant Accounting Polici39

Significant Accounting Policies - Fair Value, Amortized Cost and Unrealized Holding Gains (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Short-term Marketable Securities
Marketable Securities
Fair Value	$ 3,006	$ 59,197
Cost	3,006	59,223
Unrealized Gain	0	8
Unrealized Loss	0	(34)
Long-term Marketable Securities
Marketable Securities
Fair Value		3,047
Cost		3,055
Unrealized Gain		0
Unrealized Loss		(8)
U.S. corporate bonds | Short-term Marketable Securities
Marketable Securities
Fair Value	3,006	59,197
Cost	3,006	59,223
Unrealized Gain	0	8
Unrealized Loss	$ 0	(34)
U.S. corporate bonds | Long-term Marketable Securities
Marketable Securities
Fair Value		3,047
Cost		3,055
Unrealized Gain		0
Unrealized Loss		$ (8)

Significant Accounting Polici40

Significant Accounting Policies - Estimate Useful Lives of Property and Equipment (Details)	12 Months Ended
	Jun. 30, 2016
Computer equipment
Property and Equipment
Estimated Useful Life	3 years
Purchased software | Minimum
Property and Equipment
Estimated Useful Life	3 years
Purchased software | Maximum
Property and Equipment
Estimated Useful Life	5 years
Furniture & fixtures | Minimum
Property and Equipment
Estimated Useful Life	3 years
Furniture & fixtures | Maximum
Property and Equipment
Estimated Useful Life	10 years

Significant Accounting Polici41

Significant Accounting Policies - Revenue Recognition (Details)	12 Months Ended
	Jun. 30, 2016USD ($)claims
Revenue recognition
Concessions given on contract modification to an existing term arrangement | $	$ 0
Other Licensing Matters
Number of claims outstanding | claims	0
Legacy SMS
Revenue and cost of revenue reclassifications
Period over which customers typically received SMS	1 year

Significant Accounting Polici42

Significant Accounting Policies - Installments Receivable (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Accounting Policies [Abstract]
Threshold period for classification of installments receivable to trade accounts receivable (in days)	45 days
Current installments receivable, net	$ 0.3	$ 1.6
Non-current installments receivable, net		$ 0.3

Significant Accounting Polici43

Significant Accounting Policies - Allowance For Doubtful Accounts (Details) - Allowance for doubtful accounts, current - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Allowance for doubtful accounts
Balance, beginning of year	$ 1,636	$ 3,465
Provision for bad debts	1,032	(1,032)
Write-offs	(1,064)	(797)
Balance, end of year	$ 1,604	$ 1,636

Significant Accounting Polici44

Significant Accounting Policies - Accounts Receivable, Net of the Related Allowance For Doubtful Accounts (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Accounts Receivable
Gross	$ 22,080	$ 32,357
Allowance	1,604	1,636
Net	$ 20,476	$ 30,721

Significant Accounting Polici45

Significant Accounting Policies - Fair Value of Financial Instruments (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	$ 286,200	$ 130,232
Marketable Securities	0	0
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Marketable Securities	$ 3,006	$ 62,244

Significant Accounting Polici46

Significant Accounting Policies - Computer Software Development Costs (Details) - Computer Software Development Costs - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Computer Software Development Costs for Internal Use
Maximum period over which amortization of computer software development costs provided on a product-by-product basis using straight-line method	3 years
Computer software cost capitalized	$ 0.3	$ 0.4	$ 0.7
Amortization of expense charged to operations	0.6	0.7	$ 1
Computer software development accumulated amortization	$ 73.8	$ 73.3
Weighted average remaining useful life of computer software development costs	8 months 1 day	1 year 1 month 6 days

Significant Accounting Polici47

Significant Accounting Policies - Foreign Currency Translation (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Foreign Currency Transactions
Net foreign currency transaction and remeasurement gains (losses)	$ 0.1	$ (0.8)	$ (2.3)
KBC | Other Income (Expense), net
Foreign Currency Transactions
Net foreign currency transaction and remeasurement gains (losses)	$ (3.4)

Significant Accounting Polici48

Significant Accounting Policies - Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net income	$ 33,326	$ 33,171	$ 36,683	$ 36,771	$ 30,806	$ 28,170	$ 30,464	$ 28,967	$ 139,951	$ 118,407	$ 85,783
Weighted average shares outstanding (in shares)	81,282	83,081	83,315	83,876	85,056	87,355	89,942	91,183	82,892	88,398	92,648
Dilutive impact from:
Employee equity awards (in shares)									417	618	1,017
Dilutive weighted average shares outstanding (in shares)	81,599	83,373	83,703	84,320	85,585	87,853	90,471	91,891	83,309	89,016	93,665
Income per share
Basic (in dollars per share)	$ 0.41	$ 0.40	$ 0.44	$ 0.44	$ 0.36	$ 0.32	$ 0.34	$ 0.32	$ 1.69	$ 1.34	$ 0.93
Dilutive (in dollars per share)	$ 0.41	$ 0.40	$ 0.44	$ 0.44	$ 0.36	$ 0.32	$ 0.34	$ 0.32	$ 1.68	$ 1.33	$ 0.92

Significant Accounting Polici49

Significant Accounting Policies - Antidilutive Shares (Details) - shares shares in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Employee Equity Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share
Employee equity awards (in shares)	1,028	587	291

Significant Accounting Polici50

Significant Accounting Policies - Concentration of Credit Risk (Details) - customer_receivable_balance	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Concentration of Credit Risk
Maturity period of marketable securities, maximum	2 months
Number of customer's receivables balance representing a concentration	2	1
Accounts and installments receivable | Customers concentration risk
Concentration of Credit Risk
Percentage of total receivables		11.00%
Customer One | Accounts and installments receivable | Customers concentration risk
Concentration of Credit Risk
Percentage of total receivables	10.00%
Customer Two | Accounts and installments receivable | Customers concentration risk
Concentration of Credit Risk
Percentage of total receivables	15.00%

Significant Accounting Polici51

Significant Accounting Policies - Computer Software Developed For Internal Use (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Software Development
Computer Software Development Costs for Internal Use
Capitalized costs for computer software developed for internal use, net	$ 0	$ 0.3	$ 0.8

Significant Accounting Polici52

Significant Accounting Policies - Comprehensive Income (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Comprehensive Income
Foreign translation adjustments	$ 2.7	$ 6.5	$ 9.4
Maximum
Comprehensive Income
Net unrealized gains (losses) on available for sale securities	$ (0.1)	$ (0.1)	$ 0.1

Significant Accounting Polici53

Significant Accounting Policies - Advertising Costs & Research and Development Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Advertising expenses
Advertising expenses	$ 2.3	$ 2.9	$ 2.1
Research and Development Expense
Technology acquired	$ 0.3	$ 3.3	$ 4.9

Property and Equipment - Proper

Property and Equipment - Property, Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Property, Plant and Equipment [Line Items]
Accumulated depreciation	$ (37,502)	$ (35,791)
Property, equipment and leasehold improvements-net	15,825	18,039
Computer equipment
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements-at cost	10,387	11,614
Purchased software
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements-at cost	23,705	23,338
Furniture & fixtures
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements-at cost	6,712	6,653
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements-at cost	$ 12,523	$ 12,225

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment [Abstract]
Fully depreciated property, equipment and leasehold improvements written-off, gross book value	$ 3
Depreciation	5.1	$ 4.7	$ 3.3
Asset retirement obligation	$ 0.9	$ 0.6

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) £ / shares in Units, £ in Millions	1 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Feb. 26, 2016USD ($)	Feb. 17, 2016£ / shares	Jan. 12, 2016USD ($)	Jan. 12, 2016GBP (£)£ / shares
Acquisition Bid
Borrowings under credit agreement	$ 140,000,000	$ 140,000,000	$ 0
Net foreign currency transaction and remeasurement losses		(100,000)	800,000	$ 2,300,000
Purchase price		8,000,000	$ 0	$ 0
KBC
Acquisition Bid
Proposed transaction value per share | £ / shares								£ 1.85
Proposed transaction value | £								£ 158
Proposed transaction value, funded by cash on hand							$ 91,000,000
Fidelis
Acquisition Bid
Purchase price	8,000,000
Future contingent consideration payment	$ 2,000,000	$ 2,000,000
Weighted average discount rate (as a percent)	18.00%
Effective tax rate (as a percent)	34.00%
Weighted average remaining life		10 years 4 months 11 days
Bridge Loan | Credit Agreement
Acquisition Bid
Borrowings under credit agreement							$ 140,000,000
Line of Credit | Credit Agreement
Acquisition Bid
Borrowings under credit agreement	$ 140,000,000	$ 140,000,000			$ 140,000,000
Principal amount					$ 250,000,000
General and administrative | KBC
Acquisition Bid
Acquisition bid and bridge credit agreement costs		5,200,000
Other Income (Expense), net | KBC
Acquisition Bid
Net foreign currency transaction and remeasurement losses		$ 3,400,000
Developed technology | Fidelis
Acquisition Bid
Finite-lived intangible asset, useful life		10 years
In process research & development | Fidelis
Acquisition Bid
Finite-lived intangible asset, useful life		11 years
Customer relationships | Fidelis
Acquisition Bid
Finite-lived intangible asset, useful life		8 years
Yokogawa | KBC
Acquisition Bid
Proposed transaction value per share | £ / shares						£ 2.10

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Business Acquisition [Line Items]
Goodwill	$ 23,438	$ 17,360
Fidelis
Business Acquisition [Line Items]
Tangible assets acquired, net	65
Goodwill	6,784
Deferred tax liabilities, net	(1,849)
Total assets acquired	10,000
Fidelis | Developed technology
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	1,100
Fidelis | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	700
Fidelis | In process research & development
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 3,200

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 7,596	$ 2,596
Accumulated Amortization	(2,046)	(2,646)
Effect of currency translation	(550)	197
Net Carrying Amount	$ 5,000	$ 147
Weighted average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in Years)	10 years 4 months 11 days	4 months 24 days
In process research & development
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,200
Accumulated Amortization	0
Effect of currency translation	0
Net Carrying Amount	$ 3,200
In process research & development | Weighted average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in Years)	11 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 700
Accumulated Amortization	0
Effect of currency translation	0
Net Carrying Amount	$ 700
Customer relationships | Weighted average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in Years)	8 years
Technology and patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,696	$ 2,596
Accumulated Amortization	(2,046)	(2,646)
Effect of currency translation	(550)	197
Net Carrying Amount	$ 1,100	$ 147
Technology and patents | Weighted average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in Years)	10 years	4 months 24 days

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 0.1	$ 0.7	$ 0.9
Amortization expense - 2017	0.2
Amortization expense - 2018	0.5
Amortization expense - 2019	0.5
Amortization expense - 2020	0.5
Amortization expense - 2021	0.5
Amortization expense - Thereafter	$ 2.8

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Goodwill:
Goodwill, net, beginning balance	$ 17,360
Goodwill, net, ending balance	23,438	$ 17,360
Subscription and software
Goodwill:
Goodwill, gross, beginning balance	82,929	84,845
Accumulated impairment losses, beginning balance	(65,569)	(65,569)
Goodwill, net, beginning balance	17,360	19,276
Acquisition	6,784
Effect of currency translation	(706)	(1,916)
Goodwill, gross, ending balance	89,007	82,929
Accumulated impairment losses, ending balance	(65,569)	(65,569)
Goodwill, net, ending balance	$ 23,438	$ 17,360

Goodwill - Narrative (Details)

Goodwill - Narrative (Details)	12 Months Ended
	Jun. 30, 2016USD ($)triggering_event	Jun. 30, 2015triggering_event	Jun. 30, 2014triggering_event
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment loss recognized | $	$ 0
Number of triggering events indicating goodwill impairment occurred | triggering_event	0	0	0

Accrued Expenses and Other Li62

Accrued Expenses and Other Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Accrued expenses and other current liabilities
Royalties and outside commissions	$ 2,640	$ 2,879
Payroll and payroll-related	17,809	18,965
Other	15,656	16,639
Total accrued expenses and other current liabilities	$ 36,105	$ 38,483

Accrued Expenses and Other Li63

Accrued Expenses and Other Liabilities - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Other non-current liabilities
Deferred rent	$ 6,361	$ 5,273
Uncertain tax positions	23,535	19,870
Other	2,695	4,379
Total other non-current liabilities	$ 32,591	$ 29,522

Common Stock - Narrative (Detai

Common Stock - Narrative (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014	Apr. 26, 2016	Jan. 28, 2015
Common Stock
Approved stock repurchase program, authorized amount				$ 400,000,000	$ 450,000,000
Repurchase of common stock (in shares)	4,750,692	7,731,428	3,110,114
Repurchase of common stock, amount	$ 180,066,000	$ 298,344,000	$ 121,776,000
Remaining capacity under the stock repurchase program	$ 521,300,000

Credit Agreement - Narrative (D

Credit Agreement - Narrative (Details)	Feb. 26, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)
Line of Credit Facility [Line Items]
Borrowings under credit agreement		$ 140,000,000	$ 0
Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Principal amount	$ 250,000,000
Borrowings under credit agreement	$ 140,000,000	$ 140,000,000
Margin rate (as a percent)	0.50%
Effective interest rate (as a percent)	1.96%
Maximum leverage ratio		3
Minimum interest coverage ratio		3
Federal Funds Effective Rate | Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Variable rate spread (as a percent)	0.50%
Adjusted LIBOR | Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Variable rate spread (as a percent)	1.00%
Margin rate (as a percent)	1.50%
Minimum | Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Commitment fee percentage (as a percent)	0.20%
Maximum | Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Commitment fee percentage (as a percent)	0.30%

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Compensation Plans and General Award Terms (Details) - shares	12 Months Ended
	Jun. 30, 2016	Apr. 30, 2010	May 31, 2005
Stock-based compensation, additional disclosures
Common stock reserved for future issuance or settlement (in shares)	5,300,000
2010 Plan
Stock-based compensation, additional disclosures
Maximum number of shares authorized (in shares)		7,000,000
Common stock reserved for future issuance or settlement (in shares)	3,537,843
2005 Plan
Stock-based compensation, additional disclosures
Maximum number of shares authorized (in shares)			4,000,000
Common stock reserved for future issuance or settlement (in shares)			4,000,000
Stock Options
General award terms
Award vesting period	4 years
Stock Options | Minimum
General award terms
Contractual terms	7 years
Stock Options | Maximum
General award terms
Contractual terms	10 years
Restricted Stock Units
General award terms
Award vesting period	4 years

Stock-Based Compensation - St67

Stock-Based Compensation - Stock-Based Compensation Accounting (Details) - Stock Options - $ / shares	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Weighted average assumptions
Weighted average fair value (in dollars per share)	$ 13.16	$ 13.43	$ 11.56
Risk-free interest rate (as a percent)	1.40%	1.50%	1.30%
Expected dividend yield (as a percent)	0.00%	0.00%	0.00%
Expected life (in years)	4 years 7 months 6 days	4 years 7 months 6 days	4 years 7 months 6 days
Expected volatility factor (as a percent)	34.00%	35.00%	39.00%

Stock-Based Compensation - St68

Stock-Based Compensation - Stock Based Compensation Expense and its Classification in the Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Recorded as expenses:
Total stock-based compensation	$ 15,727	$ 14,584	$ 14,056
Cost of services and other
Recorded as expenses:
Total stock-based compensation	1,390	1,351	1,239
Selling and marketing
Recorded as expenses:
Total stock-based compensation	4,351	3,056	3,280
Research and development
Recorded as expenses:
Total stock-based compensation	3,423	3,881	4,129
General and administrative
Recorded as expenses:
Total stock-based compensation	$ 6,563	$ 6,296	$ 5,408

Stock-Based Compensation - St69

Stock-Based Compensation - Stock Option Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2016USD ($)$ / sharesshares	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2014$ / shares
Stock Options
Stock options activity
Outstanding, beginning of period (in shares) | shares	1,214,257
Granted (in shares) | shares	428,083
Exercised (in shares) | shares	(201,706)
Cancelled / Forfeited (in shares) | shares	(126,492)
Outstanding, end of period (in shares) | shares	1,314,142	1,214,257
Vested and exercisable, end of period (in shares) | shares	836,756
Vested and expected to vest, end of period (in shares) | shares	1,265,478
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share) | $ / shares	$ 27.25
Granted (in dollars per share) | $ / shares	42.66	$ 42.66	$ 33.06
Exercised (in dollars per share) | $ / shares	19.44
Cancelled / Forfeited (in dollars per share) | $ / shares	37.61
Outstanding, end of period (in dollars per share) | $ / shares	32.47	$ 27.25
Vested and exercisable, end of period (in dollars per share) | $ / shares	27.46
Vested and expected to vest, end of period (in dollars per share) | $ / shares	$ 32.10
Weighted Average Remaining Contractual Term
Outstanding, end of period	7 years 2 months 24 days	7 years 3 months 4 days
Vested and exercisable, end of period	6 years 4 months 26 days
Vested and expected to vest, end of period	7 years 2 months 6 days
Aggregate Intrinsic Value
Outstanding, beginning of period | $	$ 22,232
Outstanding, end of period | $	12,340	$ 22,232
Vested and exercisable, end of period | $	11,485
Vested and expected to vest, end of period | $	$ 12,280
Restricted Stock Units
Restricted stock units activity
Outstanding, beginning of period (in shares) | shares	542,432
Granted (in shares) | shares	422,120
Settled (in shares) | shares	(341,496)
Cancelled / Forfeited (in shares) | shares	(129,724)
Outstanding, end of period (in shares) | shares	493,332	542,432
Vested and expected to vest (in shares) | shares	443,222
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share) | $ / shares	$ 36.13
Granted (in dollars per share) | $ / shares	41.86	$ 42.65	$ 33.07
Settled (RSUs) (in dollars per share) | $ / shares	35.74
Cancelled / Forfeited (in dollars per share) | $ / shares	37.09
Outstanding, end of period (in dollars per share) | $ / shares	$ 41.06	$ 36.13
Vested and expected to vest, end of period (in dollars per share) | $ / shares	40.97

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Disclosures (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments related to tax withholding	$ 4,480	$ 5,699	$ 7,831
Common stock reserved for future issuance or settlement (in shares)	5,300,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)	$ 41.86	$ 42.65	$ 33.07
Total fair value of shares vested from RSU grants	$ 12,700	$ 16,100	$ 22,200
Total unrecognized compensation cost	$ 17,800
Total unrecognized compensation cost, period of recognition	2 years 6 months
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 5,400
Total unrecognized compensation cost, period of recognition	2 years 6 months
Granted (in dollars per share)	$ 42.66	$ 42.66	$ 33.06
Total intrinsic value of options exercised	$ 4,100	$ 8,200	$ 19,900
Cash proceeds from option exercises	3,900	4,600	8,700
Payments related to tax withholding	$ 4,400	$ 5,700	$ 7,800
2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance or settlement (in shares)	3,537,843

Income Taxes - Income (Loss) be

Income Taxes - Income (Loss) before Provision For (Benefit From) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Income (loss) before provision for income taxes
Domestic	$ 201,885	$ 175,805	$ 121,329
Foreign	8,754	3,666	7,204
Income before provision for income taxes	210,639	179,471	128,533
Federal
Current	56,535	0	0
Deferred	7,496	55,895	32,996
State
Current	1,866	2,176	528
Deferred	204	729	1,005
Foreign
Current	4,554	3,382	7,785
Deferred	33	(1,118)	436
Provision for income taxes	$ 70,688	$ 61,064	$ 42,750

Income Taxes - Provision For (B

Income Taxes - Provision For (Benefit From) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Income Tax Reconciliation
Federal tax provision at statutory rate	$ 73,723	$ 62,815	$ 44,989
State income taxes	1,153	2,114	78
Subpart F and dividend income	3,581	2,799	6,667
Foreign taxes and rate differences	(663)	(222)	1,881
Stock-based compensation	1,359	763	631
Tax credits	(3,867)	(3,562)	(8,902)
Tax contingencies	(581)	(641)	(261)
Return to provision adjustments	658	384	150
Domestic Production Activity Deduction	(4,892)	(3,600)	(2,443)
Valuation allowance	49	176	(16)
Other	168	38	(24)
Provision for income taxes	$ 70,688	$ 61,064	$ 42,750

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Deferred tax assets:
Federal and state credits	$ 1,270	$ 2,144
Capital loss carryforwards	8,073	8,028
Foreign loss carryforwards	1,742	2,133
Deferred revenue	7,821	5,620
Other reserves and accruals	6,762	6,838
Intangible assets	1,616	2,478
Property, leasehold improvements, and other basis differences	1,853	2,136
Other temporary differences	870	2,916
Deferred tax assets, total	30,007	32,293
Deferred tax liabilities:
Deferred revenue	(1,276)	(1,362)
Intangible assets	(2,912)	(1,065)
Property, leasehold improvements, and other basis differences	(3,305)	(2,812)
Other temporary differences	(508)	(645)
Deferred tax liabilities, total	(8,001)	(5,884)
Valuation allowance	10,119	10,144
Net deferred tax assets	$ 11,887	$ 16,265

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Reduction in income taxes payable
Reduction in income taxes payable	$ 2,208	$ 37,024	$ 727
Deferred tax asset valuation allowance
Deferred tax asset valuation allowance	(10,119)	$ (10,144)
Unrecognized tax benefits that if recognized would reduce the effective tax rate	23,500
Accrued interest	1,200
Accrued penalties related to uncertain tax positions	800
Benefit for interest and penalties	800
Foreign
Tax Credit Carryforward
Net operating loss carryforwards	6,900
Research and development tax credit carryforward | State
Tax Credit Carryforward
Tax credit carryforward	1,200
Alternative minimum tax credit carryforward | Domestic | U.S. Federal
Tax Credit Carryforward
Tax credit carryforward	400
Foreign tax credit carryforwards | Domestic | U.S. Federal
Tax Credit Carryforward
Tax credit carryforward	$ 8,100

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the Reserve For Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Reconciliation of the reserve for uncertain tax positions
Uncertain tax positions, beginning of year	$ 19,870	$ 21,193	$ 22,031
Gross increases—tax positions in prior period	67	238	112
Gross increases—tax positions in current period	5,474	0	0
Gross decreases—lapse of statutes	(1,772)	(1,024)	(823)
Currency translation adjustment	(104)	(537)	(127)
Uncertain tax positions, end of year	$ 23,535	$ 19,870	$ 21,193

Commitments and Contingencies -

Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands	Jun. 30, 2016USD ($)
Gross Payments
2,017	$ 5,973
2,018	6,815
2,019	7,475
2,020	6,979
2,021	5,733
Thereafter	16,703
Total	$ 49,678

Commitments and Contingencies77

Commitments and Contingencies - Narrative (Details) € in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Mar. 31, 2014EUR (€)	Jun. 30, 2016USD ($)triggering_event	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2016EUR (€)triggering_event
Leases, Operating [Abstract]
Rent expense | $		$ 8.3	$ 8.3	$ 7.1
Standby letters of credit | $		$ 3.5
Legal Matters
Matters that might have a material adverse effect on financial position, results of operations or cash flows | triggering_event		0			0
Customer Claim
Legal Matters
Judgment issued | €	€ 1.9
Damages, plus interest, with the possibility of additional damages to be determined | €					€ 1.7

Retirement Plans - Narrative (D

Retirement Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Employer matching contributions (as a percent)	50.00%
Maximum employee's pretax contribution that can be matched (as a percent)	6.00%
Employer matching contributions	$ 2.4	$ 2.2	$ 2

Segment and Geographic Inform79

Segment and Geographic Information - Narrative (Details) $ in Millions	12 Months Ended
	Jun. 30, 2016USD ($)segments	Jun. 30, 2015USD ($)
Geographic Information
Number of operating segments | segments	2
Number of reportable segments | segments	2
United States
Geographic Information
Long-lived assets | $	$ 31.6	$ 23.8
Other geographic locations
Geographic Information
Long-lived assets | $	$ 14.6	$ 14.2

Segment and Geographic Inform80

Segment and Geographic Information - Summary of Segments' Profits (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Summary of operating segments
Segment revenue	$ 113,680	$ 119,217	$ 119,151	$ 120,296	$ 114,186	$ 111,299	$ 107,790	$ 107,126	$ 472,344	$ 440,401	$ 391,453
Segment profit	$ 48,972	$ 50,681	$ 56,299	$ 55,429	$ 46,906	$ 41,731	$ 46,521	$ 44,634	211,381	179,792	129,724
Operating Segments
Summary of operating segments
Segment revenue									472,344	440,401	391,453
Segment expenses									(207,299)	(211,896)	(215,925)
Segment profit									265,045	228,505	175,528
Operating Segments | Subscription and software
Summary of operating segments
Segment revenue									440,408	405,640	350,486
Segment expenses									(179,064)	(183,485)	(183,378)
Segment profit									261,344	222,155	167,108
Operating Segments | Services
Summary of operating segments
Segment revenue									31,936	34,761	40,967
Segment expenses									(28,235)	(28,411)	(32,547)
Segment profit									$ 3,701	$ 6,350	$ 8,420

Segment and Geographic Inform81

Segment and Geographic Information - Reconciliation of Total Segment Operating Profit (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Reconciliation to Income Before Income Taxes
Segment profit	$ 48,972	$ 50,681	$ 56,299	$ 55,429	$ 46,906	$ 41,731	$ 46,521	$ 44,634	$ 211,381	$ 179,792	$ 129,724
General and administrative									(53,664)	(48,713)	(45,804)
Other income (expense), net									29	(778)	(2,278)
Income before provision for income taxes									210,639	179,471	128,533
Operating Segments
Reconciliation to Income Before Income Taxes
Segment profit									265,045	228,505	175,528
Segment Reconciling Items
Reconciliation to Income Before Income Taxes
General and administrative									(53,664)	(48,713)	(45,804)
Other income (expense), net									29	(778)	(2,278)
Interest income (net)									$ (771)	$ 457	$ 1,087

Segment and Geographic Inform82

Segment and Geographic Information - Domestic and International Sales as a Percentage of Total Revenue (Details) - Geographic concentration risk - Revenue	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Geographic Information
Sales as a percentage of total revenue	100.00%	100.00%	100.00%
United States
Geographic Information
Sales as a percentage of total revenue	35.40%	34.60%	35.50%
Europe
Geographic Information
Sales as a percentage of total revenue	29.60%	30.60%	30.20%
Other
Geographic Information
Sales as a percentage of total revenue	35.00%	34.80%	34.30%

Quarterly Financial Data (Una83

Quarterly Financial Data (Unaudited) - (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Quarterly Financial Data [Abstract]
Total revenue	$ 113,680	$ 119,217	$ 119,151	$ 120,296	$ 114,186	$ 111,299	$ 107,790	$ 107,126	$ 472,344	$ 440,401	$ 391,453
Gross profit	101,949	107,197	107,263	107,324	101,565	98,990	95,525	94,745	423,733	390,825	338,765
Income from operations	48,972	50,681	56,299	55,429	46,906	41,731	46,521	44,634	211,381	179,792	129,724
Net income	$ 33,326	$ 33,171	$ 36,683	$ 36,771	$ 30,806	$ 28,170	$ 30,464	$ 28,967	$ 139,951	$ 118,407	$ 85,783
Net income per common share:
Basic (in dollars per share)	$ 0.41	$ 0.40	$ 0.44	$ 0.44	$ 0.36	$ 0.32	$ 0.34	$ 0.32	$ 1.69	$ 1.34	$ 0.93
Diluted (in dollars per share)	$ 0.41	$ 0.40	$ 0.44	$ 0.44	$ 0.36	$ 0.32	$ 0.34	$ 0.32	$ 1.68	$ 1.33	$ 0.92
Weighted average shares outstanding:
Basic (in shares)	81,282	83,081	83,315	83,876	85,056	87,355	89,942	91,183	82,892	88,398	92,648
Diluted (in shares)	81,599	83,373	83,703	84,320	85,585	87,853	90,471	91,891	83,309	89,016	93,665