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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jun. 30, 2015	Aug. 06, 2015	Dec. 31, 2014
Document and Entity Information
Entity Registrant Name	ASPEN TECHNOLOGY INC /DE/
Entity Central Index Key	0000929940
Document Type	10-K
Document Period End Date	Jun. 30, 2015
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			$ 2,742,967,100
Entity Common Stock, Shares Outstanding		84,015,600
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Revenue:
Subscription and software	$ 405,640	$ 350,486	$ 276,585
Services and other	34,761	40,967	34,802
Total revenue	440,401	391,453	311,387
Cost of revenue:
Subscription and software	21,165	20,141	20,148
Service and other	28,411	32,547	30,200
Total cost of revenue	49,576	52,688	50,348
Gross profit	390,825	338,765	261,039
Operating expenses:
Selling and marketing	92,736	94,827	93,655
Research and development	69,584	68,410	62,516
General and administrative	48,713	45,819	49,273
Restructuring charges	0	(15)	(5)
Total operating expenses	211,033	209,041	205,439
Income from operations	179,792	129,724	55,600
Interest income	487	1,124	3,379
Interest expense	(30)	(37)	(424)
Other (expense), net	(778)	(2,278)	(1,117)
Income before provision for income taxes	179,471	128,533	57,438
Provision for income taxes	61,064	42,750	12,176
Net income	$ 118,407	$ 85,783	$ 45,262
Net income per common share:
Basic (in dollars per share)	$ 1.34	$ 0.93	$ 0.48
Diluted (in dollars per share)	$ 1.33	$ 0.92	$ 0.47
Weighted average shares outstanding:
Basic (in shares)	88,398	92,648	93,586
Diluted (in shares)	89,016	93,665	95,410

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 118,407	$ 85,783	$ 45,262
Other comprehensive income (loss):
Net unrealized (losses) gains on available for sale securities, net of tax effects of $15, ($32) and $28 for fiscal years 2015, 2014 and 2013	(29)	59	(52)
Foreign currency translation adjustments	(2,873)	2,050	(780)
Total other comprehensive income (loss)	(2,902)	2,109	(832)
Comprehensive income	$ 115,505	$ 87,892	$ 44,430

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net unrealized (losses) gains on available for sale securities, tax effects	$ 15	$ (32)	$ 28

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Current assets:
Cash and cash equivalents	$ 156,249	$ 199,526
Short-term marketable securities	59,197	67,619
Accounts receivable, net	30,721	38,532
Current portion of installments receivable, net	1,589	640
Unbilled services	1,108	1,656
Prepaid expenses and other current assets	8,055	10,567
Prepaid income taxes	542	605
Current deferred tax assets	6,169	10,537
Total current assets	263,630	329,682
Long-term marketable securities	3,047	31,270
Non-current installments receivable, net	253	811
Property, equipment and leasehold improvements, net	18,039	7,588
Computer software development costs, net	1,026	1,390
Goodwill	17,360	19,276
Non-current deferred tax assets	10,444	12,765
Other non-current assets	1,562	5,190
Total assets	315,361	407,972
Current liabilities:
Accounts payable	5,240	412
Accrued expenses and other current liabilities	38,483	34,984
Income taxes payable	1,775	2,168
Current deferred revenue	250,968	228,940
Total current liabilities	296,466	266,504
Non-current deferred revenue	37,919	45,942
Other non-current liabilities	29,522	11,850
Commitments and contingencies (Note 8)
Series D redeemable convertible preferred stock
$0.10 par value-Authorized-3,636 shares as of June 30, 2015 and 2014 Issued and outstanding-none as of June 30, 2015 and 2014	0	0
Stockholders' (deficit) equity:
Common stock, $0.10 par value-Authorized-210,000,000 shares Issued-101,607,520 shares at June 30, 2015 and 101,033,545,740 shares at June 30, 2014 Outstanding-84,504,202 shares at June 30, 2015 and 91,661,850 shares at June 30, 2014	10,161	10,103
Additional paid-in capital	641,883	591,324
Accumulated deficit	(145,627)	(264,034)
Accumulated other comprehensive income	6,470	9,372
Treasury stock, at cost-17,103,318 shares of common stock at June 30, 2015 and 9,371,890 at June 30, 2014	(561,433)	(263,089)
Total stockholders' (deficit) equity	(48,546)	83,676
Total liabilities and stockholders' (deficit) equity	$ 315,361	$ 407,972

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED BALANCE SHEETS
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	101,607,520	101,033,740
Common stock, Outstanding	84,504,202	91,661,850
Treasury stock, shares	17,103,318	9,371,890

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' (DEFICIT) EQUITY - USD ($) $ in Thousands	Common Stock.	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Treasury Stock	Total
Balance at Jun. 30, 2012	$ 9,666	$ 547,546	$ (395,079)	$ 8,095	$ (56,636)	$ 113,592
Balance (in shares) at Jun. 30, 2012	96,663,580				3,197,625
Comprehensive income (loss):
Net income			45,262			45,262
Other comprehensive income (loss)				(832)		(832)
Exercise of stock options	$ 275	20,868				21,143
Exercise of stock options (in shares)	2,743,772
Issuance of restricted stock units	$ 54	(7,759)				(7,705)
Issuance of restricted stock units (in shares)	538,193
Repurchase of common stock					$ (84,677)	(84,677)
Repurchase of common stock (in shares)					3,064,151
Stock-based compensation		14,637				14,637
Excess tax benefits from stock-based compensation		478				478
Balance at Jun. 30, 2013	$ 9,995	575,770	(349,817)	7,263	$ (141,313)	101,898
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	$ 72	8,638				8,710
Exercise of stock options (in shares)	723,330
Issuance of restricted stock units	$ 36	(7,867)				(7,831)
Issuance of restricted stock units (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	$ 10,103	591,324	(264,034)	9,372	$ (263,089)	$ 83,676
Balance (in shares) at Jun. 30, 2014	101,033,740				9,371,890	101,033,740
Comprehensive income (loss):
Net income			118,407			$ 118,407
Other comprehensive income (loss)				(2,902)		(2,902)
Exercise of stock options	$ 31	4,635				4,666
Exercise of stock options (in shares)	308,847
Issuance of restricted stock units	$ 27	(5,684)				(5,657)
Issuance of restricted stock units (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	$ 10,161	$ 641,883	$ (145,627)	$ 6,470	$ (561,433)	$ (48,546)
Balance (in shares) at Jun. 30, 2015	101,607,520				17,103,318	101,607,520

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:
Net income	$ 118,407	$ 85,783	$ 45,262
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,216	5,215	5,229
Net foreign currency loss (gain)	(1,552)	1,934	(952)
Stock-based compensation	14,584	14,056	14,637
Deferred income taxes	20,112	34,596	5,127
Provision for bad debts	(513)	1,793	489
Tax benefits from stock based compensation	37,024	727	478
Excess tax benefits from stock-based compensation	(37,024)	(727)	(478)
Other non-cash operating activities	1,619	1,847	818
Changes in assets and liabilities:
Accounts receivable	8,028	(3,179)	(6,094)
Unbilled services	526	301	(380)
Prepaid expenses, prepaid income taxes, and other assets	4,070	947	3,827
Installments receivables	(364)	13,607	39,419
Accounts payable, accrued expenses, and other liabilities	5,933	906	(5,425)
Deferred revenue	14,919	42,325	44,605
Net cash provided by operating activities	191,985	200,131	146,562
Cash flows from investing activities:
Purchases of marketable securities	(50,065)	(68,356)	(97,597)
Maturities of marketable securities	85,535	60,265	4,549
Purchases of property, equipment and leasehold improvements	(7,645)	(4,011)	(4,507)
Insurance proceeds	0	0	2,222
Purchase of technology intangibles	0	(400)	(902)
Capitalized computer software development costs	(359)	(685)	(1,156)
Net cash provided by (used in) investing activities	27,466	(13,187)	(97,391)
Cash flows from financing activities:
Exercises of stock options	4,662	8,710	21,143
Repayments of secured borrowings	0	0	(11,010)
Repurchases of common stock	(297,246)	(121,776)	(84,677)
Payments of tax withholding obligations related to restricted stock	(5,699)	(7,831)	(7,705)
Excess tax benefits from stock-based compensation	37,024	727	478
Net cash used in financing activities	(261,259)	(120,170)	(81,771)
Effect of exchange rate changes on cash and cash equivalents	(1,469)	320	(210)
(Decrease) increase in cash and cash equivalents	(43,277)	67,094	(32,810)
Cash and cash equivalents, beginning of year	199,526	132,432	165,242
Cash and cash equivalents, end of year	156,249	199,526	132,432
Supplemental disclosure of cash flow information:
Income taxes paid, net	3,712	7,157	4,645
Interest paid	$ 30	$ 37	$ 424

Operations	12 Months Ended
Operations	Jun. 30, 2015
Operations
Operations	(1) Operations Aspen Technology, Inc., together with its subsidiaries, is a leading global provider of mission-critical 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 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, 2015.

Significant Accounting Policies

12 Months Ended

Jun. 30, 2015

Significant Accounting Policies

Significant Accounting Policies

(2) 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.

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, 2015 and 2014:

	Fair Value		Cost		Unrealized Gains		Unrealized Losses
	(Dollars in Thousands)
June 30, 2015:
U.S. corporate bonds	$	59,197	$	59,223	$	8	$	(34	)

Total short-term marketable securities	$	59,197	$	59,223	$	8	$	(34	)


U.S. corporate bonds	$	3,047	$	3,055	$	—	$	(8	)

Total long-term marketable securities	$	3,047	$	3,055	$	—	$	(8	)


June 30, 2014:
U.S. corporate bonds	$	67,619	$	67,587	$	39	$	(7	)

Total short-term marketable securities	$	67,619	$	67,587	$	39	$	(7	)


U.S. corporate bonds	$	31,270	$	31,290	$	1	$	(21	)

Total long-term marketable securities	$	31,270	$	31,290	$	1	$	(21	)

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 ranging from July 2015 through August 2016 as of June 30, 2015 and from July 2014 through May 2016 as of June 30, 2014, respectively.

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 2015 and 2014, 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

Depreciation expense was $4.7 million, $3.3 million and $3.4 million for fiscal 2015, 2014 and 2013, respectively.

(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. 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. For fiscal 2016 and beyond, we do not expect the changes to our licensing model to have any material impact on subscription revenue or deferred revenue.

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, and during fiscal 2010, 2011 and 2012, the lower revenue resulted in operating losses.

Revenue Recognition

We generate revenue from the following sources: (1) licensing software products; (2) providing SMS and training; and (3) providing professional services. We sell our software products to end users under fixed-term and perpetual licenses. As a standard business practice, we offer extended payment term options for our fixed-term license arrangements, which are generally payable on an annual basis. Certain of our fixed-term license agreements include product mixing rights that allow customers the flexibility to change or alternate the use of multiple products included in the license arrangement after those products are delivered to the customer. We refer to these arrangements as token arrangements. Tokens are fixed units of measure. The amount of software usage is limited by the number of tokens purchased by the customer.

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). 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 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 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 certain SMS offerings, professional services, and training, but not for our software products or our Premier Plus SMS offering. 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 a result, all perpetual license agreements that include legacy SMS entered into subsequent to June 30, 2014 will be recognized ratably over the legacy SMS service period. Loss of VSOE on legacy SMS offerings sold with our perpetual license arrangements did not have a material impact on our revenue in fiscal 2015 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 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 a result, all perpetual license agreements that include legacy SMS entered into subsequent to June 30, 2014 will be recognized ratably over the legacy SMS service period. Loss of VSOE on legacy SMS offerings sold with our perpetual license arrangements did not have a material impact on our revenue in fiscal 2015 and is not expected to have a material impact on our revenue in future periods.

Revenue Reclassification

Prior to fiscal 2014, legacy SMS revenue was classified within services and other revenue in our consolidated statements of operations. Cost of legacy SMS revenue was included within cost of services and other revenue. Beginning with fiscal 2014, legacy SMS revenue is included within subscription and software revenue in our consolidated statements of operations. We reclassified legacy SMS revenue into subscription and software revenue in our consolidated statements of operations based on the following rationale:


	i)	Legacy SMS revenue had decreased since fiscal 2010, and been offset by a corresponding increase in subscription and software revenue as customers transitioned to our aspenONE licensing model and to point product arrangements with Premier Plus SMS.
	ii)	Legacy SMS revenue was no longer significant in relation to our total revenue due to the number of our term license arrangements that had been converted to the aspenONE licensing model.
	iii)	We expected legacy SMS revenue to continue to decrease as expiring license arrangements were renewed on the aspenONE licensing model.
	iv)	We manage legacy SMS as a part of our broader software licensing business. The distinction between legacy SMS revenue and revenue from aspenONE licensing and point product arrangements with Premier Plus SMS included for the full contract term no longer represents a meaningful difference from a line of business standpoint since we assess business performance on a combined basis.
	v)	Legacy SMS revenue and revenue from our aspenONE license arrangements share the same revenue recognition methodology and are both recognized on a ratable basis.

The following table summarizes the impact of revenue and cost of revenue reclassifications for fiscal 2013:

	Classification in Consolidated Statements of Operations for the Year Ended June 30,		Year Ended June 30,
	2015 and 2014	2013	2015		2014		2013
			(Dollars in Thousands)
Legacy SMS revenue	Subscription and software	Services and other	$	20,467	$	30,341	$	36,931
Cost of Legacy SMS revenue	Subscription and software	Services and other	$	4,036	$	5,571	$	7,360

Prior to fiscal 2014, services and other revenue included revenue related to professional services, training, legacy SMS and other revenue. Beginning with fiscal 2014, legacy SMS revenue is included within subscription and software revenue in our consolidated statements of operations.

The following tables summarize the impact of legacy SMS revenue and cost of revenue reclassification on our previously presented consolidated statements of operations for fiscal 2013:

	Impact on Consolidated Statements of Operations for the Year Ended June 30, 2013
	As Previously Reported		Reclassifications			As Currently Reported
	(Dollars in Thousands)
Subscription and software revenue:
Legacy SMS	$	—	$	36,931		$	36,931
Subscription and software		239,654		—			239,654

	$	239,654	$	36,931		$	276,585


Services and other revenue:
Legacy SMS	$	—	$	(36,931	)	$	(36,931	)
Professional services, training and other		71,733		—			71,733

	$	71,733	$	(36,931	)	$	34,802


Cost of subscription and software revenue:
Cost of legacy SMS revenue	$	—	$	7,360		$	7,360
Cost of subscription and software revenue		12,788		—			12,788

	$	12,788	$	7,360		$	20,148


Cost of services and other revenue:
Cost of legacy SMS revenue	$	—	$	(7,360	)	$	(7,360	)
Cost of professional services, training and other revenue		37,560		—			37,560

	$	37,560	$	(7,360	)	$	30,200

Services and Other

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.

For arrangements under the upfront revenue model, a portion of the arrangement fee is generally recorded as deferred revenue due to the inclusion of an undelivered element, typically certain of our legacy SMS offerings or professional services. The amount of revenue allocated to undelivered elements is based on the VSOE for those elements using the residual method, and is earned and recognized as revenue as each element is delivered.

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, 2015 and 2014, 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. Installments receivable are classified as current and non-current in our consolidated balance sheets based on the maturity date of the related installment. Non-current installments receivable consist of receivables with a due date greater than one year from the period-end date. 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, 2015.

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, 2015, our current and non-current installments receivable of $1.6 million and $0.3 million are presented net of unamortized discounts of less than $0.1 million each, respectively.

As of June 30, 2014, our gross current and non-current installments receivable of $0.7 million and $0.9 million are presented net of unamortized discounts and allowance for doubtful accounts of less than $0.1 million each, respectively.

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 2015 and 2014, respectively:

	Year Ended June 30,
	2015			2014
	(Dollars in Thousands)
Balance, beginning of year	$	3,465		$	1,615
Provision for bad debts		(1,032	)		1,922
Write-offs		(797	)		(72	)

Balance, end of year	$	1,636		$	3,465

The following table summarizes our accounts receivable, net of the related allowance for doubtful accounts, as of June 30, 2015 and 2014:

	Gross		Allowance		Net
	(Dollars in Thousands)
June 30, 2015:
Accounts Receivable	$	32,357	$	1,636	$	30,721

	$	32,357	$	1,636	$	30,721


June 30, 2014:
Accounts Receivable	$	41,997	$	3,465	$	38,532

	$	41,997	$	3,465	$	38,532

(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 accounts receivable, installments receivable and accounts payable. The estimated fair value of these financial instruments approximates their carrying value.

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, 2015 and 2014, 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, 2015:
Cash equivalents	$	130,232	$	—
Marketable securities		—		62,244
June 30, 2014:
Cash equivalents	$	175,875	$	—
Marketable securities		—		98,889

At June 30, 2015 and 2014, 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 $0.4 million, $0.7 million and $1.2 million during the years ended June 30, 2015, 2014 and 2013, respectively. Total amortization expense charged to operations was approximately $0.7 million, $1.0 million and $1.1 million for the years ended June 30, 2015, 2014 and 2013, respectively. Computer software development accumulated amortization totaled $73.3 million and $72.7 million as of June 30, 2015 and 2014, respectively. Weighted average remaining useful life of computer software development costs was 1.1 years and 1.9 years at June 30, 2015 and 2014, 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, 2015, 2014 and 2013, 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' 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. Foreign currency transaction and remeasurement losses were $0.8 million, $2.3 million and $1.2 million in fiscal 2015, 2014 and 2013, respectively.

(l) Net Income (Loss) Per Share

Basic income (loss) per share is determined by dividing net income (loss) by the weighted average common shares outstanding during the period. Diluted income (loss) per share is determined by dividing net income (loss) 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 (loss) per share based on the treasury stock method.

For the years ended June 30, 2015, 2014 and 2013, 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,
	2015		2014		2013
	(Dollars and Shares in Thousands, Except per Share Data)
Net income (loss)	$	118,407	$	85,783	$	45,262


Weighted average shares outstanding		88,398		92,648		93,586
Dilutive impact from:
Employee equity awards		618		1,017		1,824
Dilutive weighted average shares outstanding		89,016		93,665		95,410
Income (loss) per share
Basic	$	1.34	$	0.93	$	0.48
Dilutive	$	1.33	$	0.92	$	0.47

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,
	2015		2014		2013
	(Shares in Thousands)
Employee equity awards		587		291		443

(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, 2015, our investments in marketable securities consist primarily of investment grade fixed income corporate debt securities with maturities ranging from less than 1 month to 14 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, 2015, one customer receivable balance represented approximately 11% of our total receivables. The balance was collected subsequent to June 30, 2015.

(n) Intangible Assets, Goodwill, Computer Software Developed for Internal Use and Long-Lived 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, 2015 and 2014:

	Gross Carrying Amount		Accumulated Amortization			Effect of currency translation		Net Carrying Amount		Weighted Average Remaining Life (in Years)
	(Dollars in Thousands)
June 30, 2015:
Technology and patents	$	2,596	$	(2,646	)	$	197	$	147		0.4

Total	$	2,596	$	(2,646	)	$	197	$	147		0.4


June 30, 2014:
Technology and patents	$	2,596	$	(1,899	)	$	197	$	894		1.1

Total	$	2,596	$	(1,899	)	$	197	$	894		1.1

Amortization expense for technology and patents is included in operating expenses and amounted to $0.7 million, $0.9 million and $0.7 million in fiscal 2015, 2014 and 2013, respectively. Amortization expense is expected to approximate $0.1 million for fiscal 2016.

Goodwill:

During fiscal 2014, we re-aligned our reporting units to reflect our revised operating and reportable segment structure (refer to Note 10). As a result of this re-alignment, goodwill previously assigned to our SMS, training and other reporting unit was combined with goodwill in our license reporting unit, which is currently known as the subscription and software reporting unit. The carrying amount of goodwill of our professional services reporting unit, currently known as the services reporting unit, was zero at June 30, 2015 and 2014 and consisted of gross goodwill of $5.1 million offset by accumulated impairment losses of $(5.1) million as of the end of each period.

The changes in the carrying amount of goodwill for our subscription and software reporting unit during fiscal years ending June 30, 2015 and 2014 were as follows:

	Amount
	(Dollars in Thousands)
Balance as of June 30, 2013:
Goodwill	$	84,701
Accumulated impairment losses		(65,569	)

	$	19,132

Effect of currency translation		144

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

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 31st 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, 2014 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 2015 and 2014.

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 2015, 2014, and 2013, we capitalized direct labor costs of $0.3 million, $0.8 million and $0.6 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:

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.

(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 2015, 2014 and 2013 are disclosed in the accompanying consolidated statements of comprehensive income (loss).

As of June 30, 2015, 2014 and 2013, accumulated other comprehensive income is comprised of foreign translation adjustments of $6.5 million, $9.4 million $7.3 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.

(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.

(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 (benefit from) income taxes.

(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 8 for discussion of these matters and related liability accruals.

(s) Advertising Costs

Advertising costs are expensed as incurred and are classified as sales and marketing expenses. We incurred advertising expenses of $2.9 million, $2.1 million and $2.9 million during fiscal 2015, 2014 and 2013, respectively. We had less than $0.1 million in prepaid advertising costs included in the accompanying consolidated balance sheets as of June 30, 2015 and 2014.

(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 2015 and 2014, we acquired certain technologies for $3.3 million and $4.9 million, respectively, that we plan to modify and enhance for release as a commercially available product. 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.

(u) Recently Adopted Accounting Pronouncements

In fiscal 2015, we adopted ASU 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items, which did not have an impact on our reported financial position or results of operations and cash flows.

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. 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 not permitted. 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.

Secured Borrowings and Collateralized Receivables	12 Months Ended
Secured Borrowings and Collateralized Receivables	Jun. 30, 2015
Secured Borrowings and Collateralized Receivables
Secured Borrowings and Collateralized Receivables	(3) Secured Borrowings and Collateralized Receivables We had no outstanding secured borrowings as of June 30, 2015 and 2014 since the balance due to the financial institutions was repaid in full during fiscal 2013. Prior to the repayment of secured borrowings, we maintained arrangements with financial institutions for borrowings secured by our installments receivable contracts for which limited recourse existed against us. Under these programs, we and the financial institution negotiated the amount borrowed and interest rate secured by each receivable for each transaction. The customers' payments of the underlying receivables funded the repayment of the related amounts borrowed. The collateralized receivables earned interest income, and the secured borrowings accrued borrowing costs at approximately the same interest rate. These arrangements were accounted for as secured borrowings. Proceeds from and payments on the secured borrowings are presented as components of cash flows from financing activities in the accompanying consolidated statements of cash flows. Reductions of secured borrowings were recognized as financing cash flows upon payment to the financial institutions, and operating cash flows from collateralized receivables were recognized upon customer payments of amounts due.

Supplementary Balance Sheet Information

12 Months Ended

Jun. 30, 2015

Supplementary Balance Sheet Information

Supplementary Balance Sheet Information

(4) Supplemental Balance Sheet Information

Property, equipment and leasehold improvements in the accompanying consolidated balance sheets consist of the following:

	Year Ended June 30,
	2015			2014
	(Dollars in Thousands)
Property, equipment and leasehold improvements—at cost:
Computer equipment	$	11,614		$	11,772
Purchased software		23,338			23,720
Furniture & fixtures		6,653			4,530
Leasehold improvements		12,225			3,448
Accumulated depreciation		(35,791	)		(35,882	)

Property, equipment and leasehold improvements—net	$	18,039		$	7,588

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 $0.6 million as of June 30, 2015 and 2014.

We account for restructuring activities in accordance with ASC Topic 420, Exit or Disposal Cost Obligations. We have undertaken no restructuring actions during fiscal 2015, 2014, or 2013. Net restructuring charges consisted of credits of less than $0.1 million in fiscal 2015, 2014 and 2013. Accrued facility exit costs were $0.1 million as of June 30, 2015, 2014 and 2013. Cash payments related to accrued facility exit costs were less than $0.1 million during fiscal 2015 and 2014 and $0.8 million during fiscal 2013. We expect to pay the remaining facility exit cost obligations over the remaining lease terms that will expire on various dates through 2017.

Accrued expenses and other current liabilities in the accompanying consolidated balance sheets consist of the following:

	Year Ended June 30,
	2015		2014
	(Dollars in Thousands)
Royalties and outside commissions	$	2,879	$	3,596
Payroll and payroll-related		18,965		19,347
Other		16,639		12,041

Total accrued expenses and other current liabilities	$	38,483	$	34,984

Other non-current liabilities in the accompanying consolidated balance sheets consist of the following:

	Year Ended June 30,
	2015		2014
	(Dollars in Thousands)
Deferred rent	$	5,273	$	402
Other*		24,249		11,448

Total other non-current liabilities	$	29,522	$	11,850


(1)	During fiscal 2015, we received $6.1 million of landlord-funded leasehold improvements related to our new principal executive offices located in Bedford, Massachusetts. The landlord-funded leasehold improvements were recorded as property, plant and equipment and deferred rent in our consolidated balance sheets as of June 30, 2015 and are being amortized as a reduction to rent expense over the life of the lease. During fiscal 2014, we determined that $1.5 million of improvements made to the Bedford, Massachusetts offices were owned by the landlord. As of June 30, 2014, the $1.5 million of improvements were recorded within other non-current assets in our consolidated balance sheets and were reclassified as a reduction to deferred rent during fiscal 2015 when we occupied the facility. The improvements are being amortized as additional rent expense over the life of the lease. Please refer to Note 8 for further information on the lease.
(2)	Other was comprised primarily of our net reserve for uncertain tax positions of $22.6 million and $9.3 million as of June 30, 2015 and June 30, 2014, respectively. We account for unrecognized tax benefits in accordance with ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. In accordance with ASU 2013-11, deferred tax assets should be presented net of liabilities for uncertain tax positions provided there are specific deferred tax assets available to settle the uncertain income tax liabilities. As of June 30, 2014, we had sufficient deferred tax assets available to settle a portion of our reserve for uncertain tax positions, and consequently, only a portion of our total reserve for uncertain tax positions was reported as a non-current liability in our consolidated balance sheets. As of June 30, 2015, we no longer had deferred tax assets available to net against our reserve for uncertain tax positions, and, as a result, the total reserve for uncertain tax positions was presented as a non-current liability in our unaudited consolidated balance sheets as of June 30, 2015. Our total reserve for uncertain tax positions was approximately $22.6 million and $21.2 million as of June 30, 2015 and June 30, 2014, respectively.

Common Stock	12 Months Ended
Common Stock	Jun. 30, 2015
Common Stock
Common Stock	(5) 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. This share repurchase program replaced the prior program approved by the Board of Directors on April 23, 2014 that had a value of up to $200 million and remaining capacity of approximately $25.4 million and was terminated on January 28, 2015. The program approved on April 23, 2014, had replaced the prior program approved by the Board of Directors on April 23, 2013 that had a value of up to $150 million. The program approved on April 23, 2013 had replaced a repurchase program approved by the Board of Directors on October 24, 2012 with a value of up to $100 million. The program approved on October 24, 2012 had replaced a repurchase program approved by the Board of Directors on November 1, 2011 with a value of up to $100 million. 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 7,731,428 shares and 3,110,114 shares of our common stock for $298.3 million and $121.8 million during fiscal 2015 and 2014, respectively. As of June 30, 2015, the remaining dollar value under the stock repurchase program approved on January 28, 2015 was $301.4 million.

Stock-Based Compensation

12 Months Ended

Jun. 30, 2015

Stock-Based Compensation

Stock-Based Compensation

(6) 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, 2015, there were 4,146,931 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 2015, 2014 and 2013 was $13.43, $11.56 and $9.76 respectively.

We utilized the Black-Scholes option valuation model with the following weighted average assumptions:

	Year Ended June 30,
	2015			2014			2013
Risk-free interest rate		1.5	%		1.3	%		0.6	%
Expected dividend yield		None			None			None
Expected life (in years)		4.6			4.6			4.8
Expected volatility factor		35	%		39	%		49	%

The stock-based compensation expense and its classification in the accompanying consolidated statements of operations for fiscal 2015, 2014 and 2013 was as follows:

	Year Ended June 30,
	2015		2014		2013
	(Dollars in Thousands)
Recorded as expenses:
Cost of service and other	$	1,351	$	1,239	$	1,281
Selling and marketing		3,056		3,280		3,890
Research and development		3,881		4,129		2,969
General and administrative		6,296		5,408		6,497

Total stock-based compensation	$	14,584	$	14,056	$	14,637

A summary of stock option and RSU activity under all equity plans in fiscal 2015 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, 2014		1,246,528		$	20.30		7.14	$	32,543		617,269		$	25.74
Granted		315,521			42.66						373,071			42.65
Settled (RSUs)											(408,654	)		27.23
Exercised		(308,847	)		15.10
Cancelled / Forfeited		(38,945	)		25.96						(39,254	)		27.29

Outstanding at June 30, 2015		1,214,257		$	27.25		7.26	$	22,232		542,432		$	36.13


Exercisable at June 30, 2015		764,052		$	22.00		6.55	$	18,000
Vested and expected to vest at June 30, 2015		1,160,576		$	26.57		7.17	$	22,024		478,028		$	36.48

During fiscal 2015, 2014 and 2013, the weighted average grant-date fair value of RSUs granted was $42.65, $33.07 and $23.46, respectively. During fiscal 2015, 2014 and 2013 the total fair value of vested shares from RSU grants amounted to $16.1 million, $22.2 million and $22.5 million, respectively.

As of June 30, 2015, the total future unrecognized compensation cost related to stock options and RSUs was $4.9 million and $17.4 million, respectively, and both are expected to be recorded over a weighted average period of 2.5 years.

During fiscal 2015, 2014 and 2013 the weighted average exercise price of stock options granted was $42.66, $33.06 and $23.40. The total intrinsic value of options exercised during fiscal 2015, 2014 and 2013 was $8.2 million, $19.9 million and $55.7 million, respectively. We received $4.6 million, $8.7 million and $21.1 million in cash proceeds from option exercises during fiscal 2015, 2014 and 2013, respectively. We paid $5.7 million, $7.8 million and $7.7 million for withholding taxes on vested RSUs during fiscal 2015, 2014 and 2013, respectively.

At June 30, 2015, common stock reserved for future issuance or settlement under equity compensation plans was 5.9 million shares.

The compensation committee and Board of Directors completed its annual program grant for fiscal 2016 and authorized and approved the grant of 320,968 RSUs and 350,933 stock options with a grant date of August 3, 2015.

Income Taxes

12 Months Ended

Jun. 30, 2015

Income Taxes

Income Taxes

(7) Income Taxes

Income (loss) before provision for (benefit from) income taxes consists of the following:

	Year Ended June 30,
	2015		2014		2013
	(Dollars in Thousands)
Domestic	$	175,805	$	121,329	$	54,587
Foreign		3,666		7,204		2,851

Income (loss) before provision for (benefit from) income taxes	$	179,471	$	128,533	$	57,438

The provision for (benefit from) income taxes shown in the accompanying consolidated statements of operations is composed of the following:

	Year Ended June 30,
	2015			2014		2013
	(Dollars in Thousands)
Federal—
Current	$	—		$	—	$	—
Deferred		55,895			32,996		7,867
State—
Current		2,176			528		136
Deferred		729			1,005		693
Foreign—
Current		3,382			7,785		7,068
Deferred		(1,118	)		436		(3,588	)

	$	61,064		$	42,750	$	12,176

The provision for (benefit from) income taxes differs from that based on the federal statutory rate due to the following:

	Year Ended June 30,
	2015			2014			2013
	(Dollars in Thousands)
Federal tax provision (benefit) at statutory rate	$	62,815		$	44,989		$	20,103
State income taxes		2,114			78			88
Subpart F and dividend income		2,799			6,667			4,456
Foreign taxes and rate differences		(222	)		1,881			2,298
Stock-based compensation		763			631			900
Tax credits		(3,562	)		(8,902	)		(4,816	)
Tax contingencies		(641	)		(261	)		(168	)
Return to provision adjustments		384			150			(149	)
Domestic Production Activity Deduction		(3,600	)		(2,443	)		—
Valuation allowance		176			(16	)		(1,813	)
Benefit from foreign restructuring		—			—			(9,266	)
Other		38			(24	)		543

Provision for (benefit from) income taxes	$	61,064		$	42,750		$	12,176

Deferred tax assets (liabilities) consist of the following at June 30, 2015 and 2014:

	Year Ended June 30,
	2015			2014
	(Dollars in Thousands)
Deferred tax assets:
Federal and state credits	$	2,144		$	4,354
Foreign tax credits		—			4,752
Federal and state loss carryforwards					104
Capital loss carryforwards		8,028			8,012
Foreign loss carryforwards		2,133			1,672
Deferred revenue		5,620			4,823
Restructuring accruals		19			26
Other reserves and accruals		6,819			6,074
Intangible assets		2,478			419
Property, leasehold improvements, and other basis differences		2,136			2,005
Other temporary differences		2,916			3,065

		32,293			35,306
Deferred tax liabilities:
Deferred revenue		(1,362	)		(194	)
Intangible assets		(1,065	)		(1,295	)
Property, leasehold improvements, and other basis differences		(2,812	)		(298	)
Other temporary differences		(645	)		(826	)

		(5,884	)		(2,613	)
Valuation allowance		(10,144	)		(9,959	)

Net deferred tax assets	$	16,265		$	22,734

Reflected in the deferred tax assets above at June 30, 2015, we have foreign net operating loss carryforwards of $8.0 million some of which will expire beginning in 2019 and others with unlimited carryforwards, state research and development credits of $1.8 million which begin to expire in 2023, and U.S. federal alternative minimum tax credit carryforwards of $0.4 million which has an unlimited carryforward.

In addition, for U.S. federal income tax purposes at June 30, 2015, we had $2.6 million in foreign tax credits and $1.9 million of research and development tax credits, which will expire between 2024 and 2033. These credits are excluded from the above deferred tax schedule at June 30, 2015 and will be credited to additional paid in capital when such credits reduce taxes payable on the "with and without" approach.

In fiscal 2015 and fiscal 2014, we recorded reductions in the income taxes payable of $37.0 million and $0.7 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.

In fiscal 2013, we restructured our Canadian affiliate, AspenTech Canada Ltd ("ATC"). The restructuring was considered a deemed liquidation for tax purposes resulting in (i) the elimination of a deferred tax liability of $9.3 million associated with a basis difference and (ii) recognition of a capital loss for tax purposes of $22.2 million.

Our valuation allowance for deferred tax assets was $10.1 million and $9.9 million as of June 30, 2015 and 2014 respectively. The most significant portion of the valuation allowance is attributable to reserve against US capital loss carryforward deferred tax asset of $8.0 million discussed in the preceding paragraph.

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 2015, 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,
	2015			2014			2013
	(Dollars in Thousands)
Uncertain tax positions, beginning of year	$	21,193		$	22,031		$	21,906
Gross increases—tax positions in prior period		238			112			1,150
Gross decreases—lapse of statutes		(1,024	)		(823	)		(1,172	)
Currency translation adjustment		(537	)		(127	)		147

Uncertain tax positions, end of year	$	19,870		$	21,193		$	22,031

At June 30, 2015, the total amount of unrecognized tax benefits is $19.9 million, upon 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, 2015, we had approximately $1.9 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 $0.2 million during fiscal 2015. We do not anticipate the total amount of unrecognized tax benefits to significantly change within the next twelve months.

Fiscal years 2007-2014 are subject to audit in the United States and Canada.

Subsidiaries of Aspen Technology in a number of countries outside of the U.S. and Canada are also subject to tax audits. The Company estimates that the effects of such tax audits are not material to these consolidated financial statements.

Commitments and Contingencies

12 Months Ended

Jun. 30, 2015

Commitments and Contingencies

Commitments and Contingencies

(8) 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, $7.1 million and $6.7 million for fiscal years 2015, 2014 and 2013, respectively.

Future minimum lease payments under these leases and scheduled sublease payments as of June 30, 2015 are as follows:

Year Ended June 30,	Gross Payments		Scheduled Sublease Payments		Net Payments
	(Dollars in Thousands)
2016	$	8,325	$	159	$	8,166
2017		5,607		13		5,594
2018		5,015				5,015
2019		4,770				4,770
2020		4,469				4,469
Thereafter		17,775				17,775

Total	$	45,961	$	172	$	45,789

In August 2015, we executed a lease amendment for our Houston, Texas, location. The amendment extended the original lease termination date from July 2016 until February 2023 and increased future non-cancelable lease payments from $1.8 million, reflected in the above table, to $9.9 million. Base annual rent under the amended lease ranges between $1.3 million and $1.5 million, excluding our pro-rata share of taxes and expenses. In addition, under the amended lease we will not receive the $0.2 million of sub-lease income detailed in the above table.

In August 2015, we entered into a new lease agreement for our office location in Singapore. The initial term of the lease is for 60 months and approximately 11,343 square feet, commencing December 2015. Base annual rent will be $0.6 million, excluding our proportionate share of taxes and other expenses. Subject to the terms and conditions of the lease, we may extend the lease for an additional 36 month term. Future minimum non-cancelable lease payments due over the term of the lease amount to approximately $3.1 million. Aggregate capital expenditures, including leasehold improvements, furniture and equipment, with respect to the leased premises are estimated to total approximately $1.1 million. Payments of $0.7 million for binding contractual obligations related to the new facility capital expenditures are expected to be made in fiscal 2016.

Standby letters of credit for $2.2 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, including proceedings related to intellectual property rights. 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 in favor of the claimant customer against us in the amount of approximately $2.6 million plus interest and a portion of legal fees. We have filed an appeal of the judgment.

While the outcome of the proceedings and claims referenced above cannot be predicted with certainty, there are no such matters, as of June 30, 2015 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, 2015, and are not material to our financial position for the periods then ended. As of June 30, 2015, 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 and Profit Sharing Plans	12 Months Ended
Retirement and Profit Sharing Plans	Jun. 30, 2015
Retirement and Profit Sharing Plans
Retirement and Profit Sharing Plans	(9) Retirement and Profit Sharing 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 $2.2 million, $2.0 million and $1.9 million in fiscal 2015, 2014 and 2013, 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 Information

12 Months Ended

Jun. 30, 2015

Segment and Geographic Information

Segment and Geographic Information

(10) 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.

Prior to fiscal 2014, we had three operating and reportable segments: license; SMS, training and other; and professional services. As our customers have transitioned to our aspenONE licensing model, legacy SMS revenue has decreased and has been offset by a corresponding increase in revenue from aspenONE licensing arrangements and from point product arrangements with Premier Plus SMS (for further information on transition to the aspenONE licensing model and its impact on revenue and our results of operations, please refer to Note 2). As a result, legacy SMS revenue is no longer significant in relation to our total revenue and no longer represents a significant line of business.

We manage legacy SMS as a part of our broader software licensing business and assess business performance on a combined basis. Our President and Chief Executive Officer evaluates software licensing and maintenance on an aggregate basis in deciding how to assess performance. Effective July 1, 2013, we re-aligned our operating and reportable segments into 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.

Our prior period reportable segment information has been reclassified to reflect the current segment structure and conform to the current period presentation.

The following table presents a summary of our reportable segments' profits:

	Subscription and software			Services			Total
	(Dollars in Thousands)
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


Year Ended June 30, 2013:
Segment revenue	$	276,585		$	34,802		$	311,387
Segment expenses(1)		(176,319	)		(30,200	)		(206,519	)

Segment profit	$	100,266		$	4,602		$	104,868


(1)	Our reportable segments' operating expenses include expenses directly attributable to the segments. Segment expenses do not include allocations of general and administrative; restructuring; interest income, net; and other (income) expense, net. As a result of operating and reportable segments realignment, certain costs are more directly attributable to our new operating segments. Starting with fiscal 2014, segment expenses include selling and marketing, research and development, stock-based compensation and certain corporate expenses incurred in support of the segments. Prior to fiscal 2014, segment expenses included certain allocations of selling and marketing; general and administrative; and research and development and did not include restructuring and other corporate expenses incurred in support of these functions.

Reconciliation to Income (Loss) Before Provision for (Benefit from) Income Taxes

The following table presents a reconciliation of total segment operating profit to income (loss) before provision for (benefit from) income taxes:

	Year Ended June 30,
	2015			2014			2013
	(Dollars in Thousands)
Total segment profit for reportable segments	$	228,505		$	175,528		$	104,868
General and administrative		(48,713	)		(45,819	)		(49,273	)
Restructuring charges		—			15			5
Other income (expense), net		(778	)		(2,278	)		(1,117	)
Interest income (net)		457			1,087			2,955

Income (loss) before provision for (benefit from) income taxes	$	179,471		$	128,533		$	57,438

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,
	2015			2014			2013
United States		34.6	%		35.5	%		38.5	%
Europe		30.6			30.2			29.3
Other(1)		34.8			34.3			32.2

		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 $23.8 million that are located domestically and $14.2 million that reside in other geographic locations as of June 30, 2015. We had long-lived assets of approximately $16.7 million that were located domestically and $16.8 million that reside in other geographic locations as of June 30, 2014.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-Section 50
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-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Quarterly Financial Data (Unaudited)

12 Months Ended

Jun. 30, 2015

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited)

(11) Quarterly Financial Data (Unaudited)

The following tables present quarterly consolidated statement of operations data for fiscal 2015 and 2014. 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, 2015		March 31, 2015		December 31, 2014		September 30, 2014
	(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

	Three Months Ended
	June 30, 2014		March 31, 2014		December 31, 2013		September 30, 2013
	(Dollars and Shares in Thousands, Except per Share Data)
Total revenue	$	101,532	$	103,587	$	98,769	$	87,565
Gross profit		88,653		88,299		86,326		75,487
Income from operations		37,361		31,402		36,112		24,849
Net income		26,678		20,843		23,263		14,999
Net income per common share:
Basic	$	0.29	$	0.23	$	0.25	$	0.16
Diluted	$	0.29	$	0.22	$	0.25	$	0.16
Weighted average shares outstanding:
Basic		91,916		92,414		92,839		93,410
Diluted		92,710		93,365		93,816		94,522

Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2015

Significant Accounting Policies

Principles of Consolidation

(a) Principles of Consolidation

Reclassifications

Certain line items in prior period financial statements have been reclassified to conform to currently reported presentations.

Management Estimates

(b) Management Estimates

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, 2015 and 2014:

	Fair Value		Cost		Unrealized Gains		Unrealized Losses
	(Dollars in Thousands)
June 30, 2015:
U.S. corporate bonds	$	59,197	$	59,223	$	8	$	(34	)

Total short-term marketable securities	$	59,197	$	59,223	$	8	$	(34	)


U.S. corporate bonds	$	3,047	$	3,055	$	—	$	(8	)

Total long-term marketable securities	$	3,047	$	3,055	$	—	$	(8	)


June 30, 2014:
U.S. corporate bonds	$	67,619	$	67,587	$	39	$	(7	)

Total short-term marketable securities	$	67,619	$	67,587	$	39	$	(7	)


U.S. corporate bonds	$	31,270	$	31,290	$	1	$	(21	)

Total long-term marketable securities	$	31,270	$	31,290	$	1	$	(21	)

Property and Equipment

(e) Property and Equipment

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

Depreciation expense was $4.7 million, $3.3 million and $3.4 million for fiscal 2015, 2014 and 2013, respectively.

Revenue Recognition

(f) Revenue Recognition

Transition to the aspenONE Licensing Model

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.

Revenue Recognition

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.

Vendor-Specific Objective Evidence of Fair Value

Subscription and Software Revenue

Revenue Reclassification


	i)	Legacy SMS revenue had decreased since fiscal 2010, and been offset by a corresponding increase in subscription and software revenue as customers transitioned to our aspenONE licensing model and to point product arrangements with Premier Plus SMS.
	ii)	Legacy SMS revenue was no longer significant in relation to our total revenue due to the number of our term license arrangements that had been converted to the aspenONE licensing model.
	iii)	We expected legacy SMS revenue to continue to decrease as expiring license arrangements were renewed on the aspenONE licensing model.
	iv)	We manage legacy SMS as a part of our broader software licensing business. The distinction between legacy SMS revenue and revenue from aspenONE licensing and point product arrangements with Premier Plus SMS included for the full contract term no longer represents a meaningful difference from a line of business standpoint since we assess business performance on a combined basis.
	v)	Legacy SMS revenue and revenue from our aspenONE license arrangements share the same revenue recognition methodology and are both recognized on a ratable basis.

The following table summarizes the impact of revenue and cost of revenue reclassifications for fiscal 2013:

	Classification in Consolidated Statements of Operations for the Year Ended June 30,		Year Ended June 30,
	2015 and 2014	2013	2015		2014		2013
			(Dollars in Thousands)
Legacy SMS revenue	Subscription and software	Services and other	$	20,467	$	30,341	$	36,931
Cost of Legacy SMS revenue	Subscription and software	Services and other	$	4,036	$	5,571	$	7,360

The following tables summarize the impact of legacy SMS revenue and cost of revenue reclassification on our previously presented consolidated statements of operations for fiscal 2013:

	Impact on Consolidated Statements of Operations for the Year Ended June 30, 2013
	As Previously Reported		Reclassifications			As Currently Reported
	(Dollars in Thousands)
Subscription and software revenue:
Legacy SMS	$	—	$	36,931		$	36,931
Subscription and software		239,654		—			239,654

	$	239,654	$	36,931		$	276,585


Services and other revenue:
Legacy SMS	$	—	$	(36,931	)	$	(36,931	)
Professional services, training and other		71,733		—			71,733

	$	71,733	$	(36,931	)	$	34,802


Cost of subscription and software revenue:
Cost of legacy SMS revenue	$	—	$	7,360		$	7,360
Cost of subscription and software revenue		12,788		—			12,788

	$	12,788	$	7,360		$	20,148


Cost of services and other revenue:
Cost of legacy SMS revenue	$	—	$	(7,360	)	$	(7,360	)
Cost of professional services, training and other revenue		37,560		—			37,560

	$	37,560	$	(7,360	)	$	30,200

Services and Other

Professional Services Revenue

Training Revenue

Deferred Revenue

Other Licensing Matters

Installments Receivable

(g) Installments Receivable

As of June 30, 2015, our current and non-current installments receivable of $1.6 million and $0.3 million are presented net of unamortized discounts of less than $0.1 million each, respectively.

Allowance for Doubtful Accounts and Discounts

(h) Allowance for Doubtful Accounts and Discounts

The following table presents our allowance for doubtful accounts activity for accounts receivable in fiscal 2015 and 2014, respectively:

	Year Ended June 30,
	2015			2014
	(Dollars in Thousands)
Balance, beginning of year	$	3,465		$	1,615
Provision for bad debts		(1,032	)		1,922
Write-offs		(797	)		(72	)

Balance, end of year	$	1,636		$	3,465

The following table summarizes our accounts receivable, net of the related allowance for doubtful accounts, as of June 30, 2015 and 2014:

	Gross		Allowance		Net
	(Dollars in Thousands)
June 30, 2015:
Accounts Receivable	$	32,357	$	1,636	$	30,721

	$	32,357	$	1,636	$	30,721


June 30, 2014:
Accounts Receivable	$	41,997	$	3,465	$	38,532

	$	41,997	$	3,465	$	38,532

Fair Value of Financial Instruments

(i) Fair Value of Financial Instruments

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 3 Inputs—Unobservable inputs for determining fair values of assets or liabilities that reflect an entity's own assumptions in pricing assets or liabilities.

	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, 2015:
Cash equivalents	$	130,232	$	—
Marketable securities		—		62,244
June 30, 2014:
Cash equivalents	$	175,875	$	—
Marketable securities		—		98,889

At June 30, 2015 and 2014, we did not have any assets or liabilities measured at fair value on a recurring basis using significant unobservable inputs ("Level 3 Inputs").

Computer Software Development Costs

(j) Computer Software Development Costs

Foreign Currency Transactions

(k) Foreign Currency Translation

Net Income (Loss) Per Share

(l) Net Income (Loss) Per Share

	Year Ended June 30,
	2015		2014		2013
	(Dollars and Shares in Thousands, Except per Share Data)
Net income (loss)	$	118,407	$	85,783	$	45,262


Weighted average shares outstanding		88,398		92,648		93,586
Dilutive impact from:
Employee equity awards		618		1,017		1,824
Dilutive weighted average shares outstanding		89,016		93,665		95,410
Income (loss) per share
Basic	$	1.34	$	0.93	$	0.48
Dilutive	$	1.33	$	0.92	$	0.47

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,
	2015		2014		2013
	(Shares in Thousands)
Employee equity awards		587		291		443

Concentration of Credit Risk

(m) Concentration of Credit Risk

Intangible Assets

Intangible Assets:

Intangible assets consist of the following as of June 30, 2015 and 2014:

	Gross Carrying Amount		Accumulated Amortization			Effect of currency translation		Net Carrying Amount		Weighted Average Remaining Life (in Years)
	(Dollars in Thousands)
June 30, 2015:
Technology and patents	$	2,596	$	(2,646	)	$	197	$	147		0.4

Total	$	2,596	$	(2,646	)	$	197	$	147		0.4


June 30, 2014:
Technology and patents	$	2,596	$	(1,899	)	$	197	$	894		1.1

Total	$	2,596	$	(1,899	)	$	197	$	894		1.1

Goodwill

Goodwill:

The changes in the carrying amount of goodwill for our subscription and software reporting unit during fiscal years ending June 30, 2015 and 2014 were as follows:

	Amount
	(Dollars in Thousands)
Balance as of June 30, 2013:
Goodwill	$	84,701
Accumulated impairment losses		(65,569	)

	$	19,132

Effect of currency translation		144

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

Computer Software Developed for Internal Use

Computer Software Developed for Internal Use:

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets:

Comprehensive Income

(o) Comprehensive Income

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

Loss Contingencies

(r) Loss Contingencies

Advertising Costs

(s) Advertising Costs

Research and Development Expense

(t) Research and Development Expense

Recently Adopted Accounting Pronouncements

(u) Recently Adopted Accounting Pronouncements

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.

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.

Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2015

Significant Accounting Policies

Summary of the fair value, the amortized cost and unrealized holding gains (losses) on marketable securities

	Fair Value		Cost		Unrealized Gains		Unrealized Losses
	(Dollars in Thousands)
June 30, 2015:
U.S. corporate bonds	$	59,197	$	59,223	$	8	$	(34	)

Total short-term marketable securities	$	59,197	$	59,223	$	8	$	(34	)


U.S. corporate bonds	$	3,047	$	3,055	$	—	$	(8	)

Total long-term marketable securities	$	3,047	$	3,055	$	—	$	(8	)


June 30, 2014:
U.S. corporate bonds	$	67,619	$	67,587	$	39	$	(7	)

Total short-term marketable securities	$	67,619	$	67,587	$	39	$	(7	)


U.S. corporate bonds	$	31,270	$	31,290	$	1	$	(21	)

Total long-term marketable securities	$	31,270	$	31,290	$	1	$	(21	)

Property and equipment, estimated useful lives

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

Summary of impact of revenue and cost of revenue reclassifications

	Classification in Consolidated Statements of Operations for the Year Ended June 30,		Year Ended June 30,
	2015 and 2014	2013	2015		2014		2013
			(Dollars in Thousands)
Legacy SMS revenue	Subscription and software	Services and other	$	20,467	$	30,341	$	36,931
Cost of Legacy SMS revenue	Subscription and software	Services and other	$	4,036	$	5,571	$	7,360

Summary of impact of legacy SMS revenue and cost of revenue reclassification on previously presented unaudited consolidated statements of operations

	Impact on Consolidated Statements of Operations for the Year Ended June 30, 2013
	As Previously Reported		Reclassifications			As Currently Reported
	(Dollars in Thousands)
Subscription and software revenue:
Legacy SMS	$	—	$	36,931		$	36,931
Subscription and software		239,654		—			239,654

	$	239,654	$	36,931		$	276,585


Services and other revenue:
Legacy SMS	$	—	$	(36,931	)	$	(36,931	)
Professional services, training and other		71,733		—			71,733

	$	71,733	$	(36,931	)	$	34,802


Cost of subscription and software revenue:
Cost of legacy SMS revenue	$	—	$	7,360		$	7,360
Cost of subscription and software revenue		12,788		—			12,788

	$	12,788	$	7,360		$	20,148


Cost of services and other revenue:
Cost of legacy SMS revenue	$	—	$	(7,360	)	$	(7,360	)
Cost of professional services, training and other revenue		37,560		—			37,560

	$	37,560	$	(7,360	)	$	30,200

Allowance for doubtful accounts activity for accounts receivable

	Year Ended June 30,
	2015			2014
	(Dollars in Thousands)
Balance, beginning of year	$	3,465		$	1,615
Provision for bad debts		(1,032	)		1,922
Write-offs		(797	)		(72	)

Balance, end of year	$	1,636		$	3,465

Accounts receivable, net balances

	Gross		Allowance		Net
	(Dollars in Thousands)
June 30, 2015:
Accounts Receivable	$	32,357	$	1,636	$	30,721

	$	32,357	$	1,636	$	30,721


June 30, 2014:
Accounts Receivable	$	41,997	$	3,465	$	38,532

	$	41,997	$	3,465	$	38,532

Financial assets and financial liabilities measured and recorded at fair value on a recurring basis

	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, 2015:
Cash equivalents	$	130,232	$	—
Marketable securities		—		62,244
June 30, 2014:
Cash equivalents	$	175,875	$	—
Marketable securities		—		98,889

Calculations of basic and diluted net income (loss) per share

	Year Ended June 30,
	2015		2014		2013
	(Dollars and Shares in Thousands, Except per Share Data)
Net income (loss)	$	118,407	$	85,783	$	45,262


Weighted average shares outstanding		88,398		92,648		93,586
Dilutive impact from:
Employee equity awards		618		1,017		1,824
Dilutive weighted average shares outstanding		89,016		93,665		95,410
Income (loss) per share
Basic	$	1.34	$	0.93	$	0.48
Dilutive	$	1.33	$	0.92	$	0.47

Potential common shares excluded from calculation of dilutive weighted average shares outstanding

	Year Ended June 30,
	2015		2014		2013
	(Shares in Thousands)
Employee equity awards		587		291		443

Intangible assets

	Gross Carrying Amount		Accumulated Amortization			Effect of currency translation		Net Carrying Amount		Weighted Average Remaining Life (in Years)
	(Dollars in Thousands)
June 30, 2015:
Technology and patents	$	2,596	$	(2,646	)	$	197	$	147		0.4

Total	$	2,596	$	(2,646	)	$	197	$	147		0.4


June 30, 2014:
Technology and patents	$	2,596	$	(1,899	)	$	197	$	894		1.1

Total	$	2,596	$	(1,899	)	$	197	$	894		1.1

Changes in carrying amount of goodwill by reporting unit

	Amount
	(Dollars in Thousands)
Balance as of June 30, 2013:
Goodwill	$	84,701
Accumulated impairment losses		(65,569	)

	$	19,132

Effect of currency translation		144

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

Supplementary Balance Sheet Information (Tables)

12 Months Ended

Jun. 30, 2015

Supplementary Balance Sheet Information

Property, equipment and leasehold improvements

	Year Ended June 30,
	2015			2014
	(Dollars in Thousands)
Property, equipment and leasehold improvements—at cost:
Computer equipment	$	11,614		$	11,772
Purchased software		23,338			23,720
Furniture & fixtures		6,653			4,530
Leasehold improvements		12,225			3,448
Accumulated depreciation		(35,791	)		(35,882	)

Property, equipment and leasehold improvements—net	$	18,039		$	7,588

Accrued expenses and other current liabilities

	Year Ended June 30,
	2015		2014
	(Dollars in Thousands)
Royalties and outside commissions	$	2,879	$	3,596
Payroll and payroll-related		18,965		19,347
Other		16,639		12,041

Total accrued expenses and other current liabilities	$	38,483	$	34,984

Other non-current liabilities

	Year Ended June 30,
	2015		2014
	(Dollars in Thousands)
Deferred rent	$	5,273	$	402
Other*		24,249		11,448

Total other non-current liabilities	$	29,522	$	11,850


(1)	During fiscal 2015, we received $6.1 million of landlord-funded leasehold improvements related to our new principal executive offices located in Bedford, Massachusetts. The landlord-funded leasehold improvements were recorded as property, plant and equipment and deferred rent in our consolidated balance sheets as of June 30, 2015 and are being amortized as a reduction to rent expense over the life of the lease. During fiscal 2014, we determined that $1.5 million of improvements made to the Bedford, Massachusetts offices were owned by the landlord. As of June 30, 2014, the $1.5 million of improvements were recorded within other non-current assets in our consolidated balance sheets and were reclassified as a reduction to deferred rent during fiscal 2015 when we occupied the facility. The improvements are being amortized as additional rent expense over the life of the lease. Please refer to Note 8 for further information on the lease.
(2)	Other was comprised primarily of our net reserve for uncertain tax positions of $22.6 million and $9.3 million as of June 30, 2015 and June 30, 2014, respectively. We account for unrecognized tax benefits in accordance with ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. In accordance with ASU 2013-11, deferred tax assets should be presented net of liabilities for uncertain tax positions provided there are specific deferred tax assets available to settle the uncertain income tax liabilities. As of June 30, 2014, we had sufficient deferred tax assets available to settle a portion of our reserve for uncertain tax positions, and consequently, only a portion of our total reserve for uncertain tax positions was reported as a non-current liability in our consolidated balance sheets. As of June 30, 2015, we no longer had deferred tax assets available to net against our reserve for uncertain tax positions, and, as a result, the total reserve for uncertain tax positions was presented as a non-current liability in our unaudited consolidated balance sheets as of June 30, 2015. Our total reserve for uncertain tax positions was approximately $22.6 million and $21.2 million as of June 30, 2015 and June 30, 2014, respectively.

Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2015

Stock-Based Compensation

Weighted average assumptions

	Year Ended June 30,
	2015			2014			2013
Risk-free interest rate		1.5	%		1.3	%		0.6	%
Expected dividend yield		None			None			None
Expected life (in years)		4.6			4.6			4.8
Expected volatility factor		35	%		39	%		49	%

Stock-based compensation expense

	Year Ended June 30,
	2015		2014		2013
	(Dollars in Thousands)
Recorded as expenses:
Cost of service and other	$	1,351	$	1,239	$	1,281
Selling and marketing		3,056		3,280		3,890
Research and development		3,881		4,129		2,969
General and administrative		6,296		5,408		6,497

Total stock-based compensation	$	14,584	$	14,056	$	14,637

Stock options and RSU activity

	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, 2014		1,246,528		$	20.30		7.14	$	32,543		617,269		$	25.74
Granted		315,521			42.66						373,071			42.65
Settled (RSUs)											(408,654	)		27.23
Exercised		(308,847	)		15.10
Cancelled / Forfeited		(38,945	)		25.96						(39,254	)		27.29

Outstanding at June 30, 2015		1,214,257		$	27.25		7.26	$	22,232		542,432		$	36.13


Exercisable at June 30, 2015		764,052		$	22.00		6.55	$	18,000
Vested and expected to vest at June 30, 2015		1,160,576		$	26.57		7.17	$	22,024		478,028		$	36.48

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2015

Income Taxes

Income (loss) before provision for (benefit from) income taxes

	Year Ended June 30,
	2015		2014		2013
	(Dollars in Thousands)
Domestic	$	175,805	$	121,329	$	54,587
Foreign		3,666		7,204		2,851

Income (loss) before provision for (benefit from) income taxes	$	179,471	$	128,533	$	57,438

Provision for (benefit from) income taxes

	Year Ended June 30,
	2015			2014		2013
	(Dollars in Thousands)
Federal—
Current	$	—		$	—	$	—
Deferred		55,895			32,996		7,867
State—
Current		2,176			528		136
Deferred		729			1,005		693
Foreign—
Current		3,382			7,785		7,068
Deferred		(1,118	)		436		(3,588	)

	$	61,064		$	42,750	$	12,176

Income tax reconciliation based on federal statutory rate

	Year Ended June 30,
	2015			2014			2013
	(Dollars in Thousands)
Federal tax provision (benefit) at statutory rate	$	62,815		$	44,989		$	20,103
State income taxes		2,114			78			88
Subpart F and dividend income		2,799			6,667			4,456
Foreign taxes and rate differences		(222	)		1,881			2,298
Stock-based compensation		763			631			900
Tax credits		(3,562	)		(8,902	)		(4,816	)
Tax contingencies		(641	)		(261	)		(168	)
Return to provision adjustments		384			150			(149	)
Domestic Production Activity Deduction		(3,600	)		(2,443	)		—
Valuation allowance		176			(16	)		(1,813	)
Benefit from foreign restructuring		—			—			(9,266	)
Other		38			(24	)		543

Provision for (benefit from) income taxes	$	61,064		$	42,750		$	12,176

Deferred tax assets and liabilities

	Year Ended June 30,
	2015			2014
	(Dollars in Thousands)
Deferred tax assets:
Federal and state credits	$	2,144		$	4,354
Foreign tax credits		—			4,752
Federal and state loss carryforwards					104
Capital loss carryforwards		8,028			8,012
Foreign loss carryforwards		2,133			1,672
Deferred revenue		5,620			4,823
Restructuring accruals		19			26
Other reserves and accruals		6,819			6,074
Intangible assets		2,478			419
Property, leasehold improvements, and other basis differences		2,136			2,005
Other temporary differences		2,916			3,065

		32,293			35,306
Deferred tax liabilities:
Deferred revenue		(1,362	)		(194	)
Intangible assets		(1,065	)		(1,295	)
Property, leasehold improvements, and other basis differences		(2,812	)		(298	)
Other temporary differences		(645	)		(826	)

		(5,884	)		(2,613	)
Valuation allowance		(10,144	)		(9,959	)

Net deferred tax assets	$	16,265		$	22,734

Reconciliation of reserve for uncertain tax positions

	Year Ended June 30,
	2015			2014			2013
	(Dollars in Thousands)
Uncertain tax positions, beginning of year	$	21,193		$	22,031		$	21,906
Gross increases—tax positions in prior period		238			112			1,150
Gross decreases—lapse of statutes		(1,024	)		(823	)		(1,172	)
Currency translation adjustment		(537	)		(127	)		147

Uncertain tax positions, end of year	$	19,870		$	21,193		$	22,031

Commitments and Contingencies (Tables)

12 Months Ended

Jun. 30, 2015

Commitments and Contingencies

Schedule of future minimum lease payments

Year Ended June 30,	Gross Payments		Scheduled Sublease Payments		Net Payments
	(Dollars in Thousands)
2016	$	8,325	$	159	$	8,166
2017		5,607		13		5,594
2018		5,015				5,015
2019		4,770				4,770
2020		4,469				4,469
Thereafter		17,775				17,775

Total	$	45,961	$	172	$	45,789

Segment and Geographic Information (Tables)

12 Months Ended

Jun. 30, 2015

Segment and Geographic Information

Summary of reportable segments' profits

	Subscription and software			Services			Total
	(Dollars in Thousands)
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


Year Ended June 30, 2013:
Segment revenue	$	276,585		$	34,802		$	311,387
Segment expenses(1)		(176,319	)		(30,200	)		(206,519	)

Segment profit	$	100,266		$	4,602		$	104,868


(1)	Our reportable segments' operating expenses include expenses directly attributable to the segments. Segment expenses do not include allocations of general and administrative; restructuring; interest income, net; and other (income) expense, net. As a result of operating and reportable segments realignment, certain costs are more directly attributable to our new operating segments. Starting with fiscal 2014, segment expenses include selling and marketing, research and development, stock-based compensation and certain corporate expenses incurred in support of the segments. Prior to fiscal 2014, segment expenses included certain allocations of selling and marketing; general and administrative; and research and development and did not include restructuring and other corporate expenses incurred in support of these functions.

Reconciliation of total segment operating profit to income (loss) before provision for (benefit from) income taxes

	Year Ended June 30,
	2015			2014			2013
	(Dollars in Thousands)
Total segment profit for reportable segments	$	228,505		$	175,528		$	104,868
General and administrative		(48,713	)		(45,819	)		(49,273	)
Restructuring charges		—			15			5
Other income (expense), net		(778	)		(2,278	)		(1,117	)
Interest income (net)		457			1,087			2,955

Income (loss) before provision for (benefit from) income taxes	$	179,471		$	128,533		$	57,438

Domestic and international Sales as a Percentage of total revenue

	Year Ended June 30,
	2015			2014			2013
United States		34.6	%		35.5	%		38.5	%
Europe		30.6			30.2			29.3
Other(1)		34.8			34.3			32.2

		100.0	%		100.0	%		100.0	%


(1)	Other consists primarily of Asia Pacific, Canada, Latin America and the Middle East.

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Jun. 30, 2015

Quarterly Financial Data (Unaudited)

Quarterly consolidated statement of operations data

	Three Months Ended
	June 30, 2015		March 31, 2015		December 31, 2014		September 30, 2014
	(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

	Three Months Ended
	June 30, 2014		March 31, 2014		December 31, 2013		September 30, 2013
	(Dollars and Shares in Thousands, Except per Share Data)
Total revenue	$	101,532	$	103,587	$	98,769	$	87,565
Gross profit		88,653		88,299		86,326		75,487
Income from operations		37,361		31,402		36,112		24,849
Net income		26,678		20,843		23,263		14,999
Net income per common share:
Basic	$	0.29	$	0.23	$	0.25	$	0.16
Diluted	$	0.29	$	0.22	$	0.25	$	0.16
Weighted average shares outstanding:
Basic		91,916		92,414		92,839		93,410
Diluted		92,710		93,365		93,816		94,522

Operations (Details)	Jun. 30, 2015 country
Operations
Number of countries of operations	31

Significant Accounting Policies (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Short-term Marketable Securities
Marketable Securities
Fair Value	$ 59,197	$ 67,619
Cost	59,223	67,587
Unrealized Gain	8	39
Unrealized Loss	(34)	(7)
Long-term Marketable Securities
Marketable Securities
Fair Value	3,047	31,270
Cost	3,055	31,290
Unrealized Gain	0	1
Unrealized Loss	(8)	(21)
U.S. corporate bonds \| Short-term Marketable Securities
Marketable Securities
Fair Value	59,197	67,619
Cost	59,223	67,587
Unrealized Gain	8	39
Unrealized Loss	(34)	(7)
U.S. corporate bonds \| Long-term Marketable Securities
Marketable Securities
Fair Value	3,047	31,270
Cost	3,055	31,290
Unrealized Gain	0	1
Unrealized Loss	$ (8)	$ (21)

Significant Accounting Policies (Details 2) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Property and Equipment
Depreciation expense	$ 4.7	$ 3.3	$ 3.4
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 and fixtures \| Minimum
Property and Equipment
Estimated Useful Life	3 years
Furniture and fixtures \| Maximum
Property and Equipment
Estimated Useful Life	10 years

Significant Accounting Policies (Details 3) $ in Thousands	12 Months Ended
Significant Accounting Policies (Details 3) $ in Thousands	Jun. 30, 2015 USD ($) claim	Jun. 30, 2014 USD ($)	Jun. 30, 2013 USD ($)
Revenue and cost of revenue reclassifications
Subscription and software revenue	$ 405,640	$ 350,486	$ 276,585
Services and other	34,761	40,967	34,802
Cost of subscription and software revenue	21,165	20,141	20,148
Cost of services and other revenue	28,411	32,547	30,200
Revenue recognition
Concessions given on contract modification to an existing term arrangement	$ 0
Other Licensing Matters
Number of claims outstanding \| claim	0
As Previously Reported
Revenue and cost of revenue reclassifications
Subscription and software revenue			239,654
Services and other			71,733
Cost of subscription and software revenue			12,788
Cost of services and other revenue			37,560
Reclassifications
Revenue and cost of revenue reclassifications
Subscription and software revenue			36,931
Services and other			(36,931)
Cost of subscription and software revenue			7,360
Cost of services and other revenue			(7,360)
Legacy SMS
Revenue and cost of revenue reclassifications
Period over which customers typically received SMS	1 year
Subscription and software revenue	$ 20,467	30,341	36,931
Services and other			(36,931)
Cost of subscription and software revenue	$ 4,036	$ 5,571	7,360
Cost of services and other revenue			(7,360)
Legacy SMS \| As Previously Reported
Revenue and cost of revenue reclassifications
Subscription and software revenue			0
Services and other			0
Cost of subscription and software revenue			0
Cost of services and other revenue			0
Legacy SMS \| Reclassifications
Revenue and cost of revenue reclassifications
Subscription and software revenue			36,931
Services and other			(36,931)
Cost of subscription and software revenue			7,360
Cost of services and other revenue			(7,360)
Subscription and Software
Revenue and cost of revenue reclassifications
Subscription and software revenue			239,654
Cost of subscription and software revenue			12,788
Subscription and Software \| As Previously Reported
Revenue and cost of revenue reclassifications
Subscription and software revenue			239,654
Cost of subscription and software revenue			12,788
Subscription and Software \| Reclassifications
Revenue and cost of revenue reclassifications
Subscription and software revenue			0
Cost of subscription and software revenue			0
Professional services, training and other
Revenue and cost of revenue reclassifications
Services and other			71,733
Cost of services and other revenue			37,560
Professional services, training and other \| As Previously Reported
Revenue and cost of revenue reclassifications
Services and other			71,733
Cost of services and other revenue			37,560
Professional services, training and other \| Reclassifications
Revenue and cost of revenue reclassifications
Services and other			0
Cost of services and other revenue			$ 0

Significant Accounting Policies (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Installments Receivable
Threshold period for classification of installments receivable to trade accounts receivable (as a percent)	45 days
Installments receivable, current
Current installments receivable, net	$ 1,589	$ 640
Installments receivable, non-current
Non-current installments receivable, net	253	811
Maximum
Installments receivable, current
Unamortized discounts on installments receivable, current	100	100
Allowance for doubtful accounts on installments receivable, current		100
Installments receivable, non-current
Unamortized discounts on installments receivable, non-current	$ 100	100
Allowance for doubtful accounts on installments receivable, non-current		$ 100

Significant Accounting Policies (Details 5) - Allowance for doubtful accounts, current - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Allowance for doubtful accounts
Balance, beginning of year	$ 3,465	$ 1,615
Provision for bad debts	(1,032)	1,922
Write-offs	(797)	(72)
Balance, end of year	$ 1,636	$ 3,465

Significant Accounting Policies (Details 6) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Accounts Receivable
Gross	$ 32,357	$ 41,997
Allowance	1,636	3,465
Account receivable, Net	$ 30,721	$ 38,532

Significant Accounting Policies (Details 7) - Recurring - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	$ 130,232	$ 175,875
Marketable Securities	0	0
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Marketable Securities	$ 62,244	$ 98,889

Significant Accounting Policies (Details 8) - Computer Software Development Costs - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
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	$ 0.4	$ 0.7	$ 1.2
Amortization of expense charged to operations	0.7	1.0	$ 1.1
Computer software development accumulated amortization	$ 73.3	$ 72.7
Weighted average remaining useful life of computer software development costs	1 year 1 month 6 days	1 year 10 months 24 days

Significant Accounting Policies (Details 9) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Foreign Currency Transactions
Net foreign currency transaction and remeasurement losses	$ 0.8	$ 2.3	$ 1.2

Significant Accounting Policies (Details 10) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Net (Loss) Income Per Common Share
Net income (loss)	$ 30,806	$ 28,170	$ 30,464	$ 28,967	$ 26,678	$ 20,843	$ 23,263	$ 14,999	$ 118,407	$ 85,783	$ 45,262
Weighted average shares outstanding (in shares)	85,056	87,355	89,942	91,183	91,916	92,414	92,839	93,410	88,398	92,648	93,586
Dilutive impact from:
Employee equity awards (in shares)									618	1,017	1,824
Dilutive weighted average shares outstanding (in shares)	85,585	87,853	90,471	91,891	92,710	93,365	93,816	94,522	89,016	93,665	95,410
Income per share
Basic (in dollars per share)	$ 0.36	$ 0.32	$ 0.34	$ 0.32	$ 0.29	$ 0.23	$ 0.25	$ 0.16	$ 1.34	$ 0.93	$ 0.48
Dilutive (in dollars per share)	$ 0.36	$ 0.32	$ 0.34	$ 0.32	$ 0.29	$ 0.22	$ 0.25	$ 0.16	$ 1.33	$ 0.92	$ 0.47

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Significant Accounting Policies (Details 11) - shares shares in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Employee Equity Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share
Employee equity awards (in shares)	587	291	443

Significant Accounting Policies (Details 12)	12 Months Ended
Significant Accounting Policies (Details 12)	Jun. 30, 2015 item
Concentration of Credit Risk
Maturity period of marketable securities, maximum minimum period	1 month
Maturity period of marketable securities, maximum	14 months
Number of customer's receivables balance representing a concentration	1
Accounts and installments receivable \| Customers concentration risk
Concentration of Credit Risk
Percentage of total receivables	11.00%

Significant Accounting Policies (Details 13) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Finite-Lived Intangible Assets, Net
Gross Carrying Amount	$ 2,596	$ 2,596
Accumulated Amortization	(2,646)	(1,899)
Effect of currency translation	197	197
Net Carrying Amount	147	894
Intangible asset amortization expense	700	$ 900	$ 700
Future Amortization Expense
Amortization expense - 2016	$ 100
Weighted average
Finite-Lived Intangible Assets, Net
Weighted Average Remaining Life	4 months 24 days	1 year 1 month 6 days
Technology and patents
Finite-Lived Intangible Assets, Net
Gross Carrying Amount	$ 2,596	$ 2,596
Accumulated Amortization	(2,646)	(1,899)
Effect of currency translation	197	197
Net Carrying Amount	$ 147	$ 894
Technology and patents \| Weighted average
Finite-Lived Intangible Assets, Net
Weighted Average Remaining Life	4 months 24 days	1 year 1 month 6 days

Significant Accounting Policies (Details 14) $ in Thousands	12 Months Ended
Significant Accounting Policies (Details 14) $ in Thousands	Jun. 30, 2015 USD ($) item	Jun. 30, 2014 USD ($) item
Goodwill:
Goodwill, net, beginning balance	$ 19,276
Goodwill, net, ending balance	$ 17,360	$ 19,276
Number of triggering events indicating goodwill impairment occurred \| item	0	0
Subscription and software
Goodwill:
Goodwill, gross, beginning balance	$ 84,845	$ 84,701
Accumulated impairment losses, beginning balance	(65,569)	(65,569)
Goodwill, net, beginning balance	19,276	19,132
Effect of currency translation	(1,916)	144
Goodwill, gross, ending balance	82,929	84,845
Accumulated impairment losses, ending balance	(65,569)	(65,569)
Goodwill, net, ending balance	17,360	19,276
Services
Goodwill:
Goodwill, gross, beginning balance	5,100
Accumulated impairment losses, beginning balance	(5,100)
Goodwill, net, beginning balance	0
Goodwill, gross, ending balance	5,100	5,100
Accumulated impairment losses, ending balance	(5,100)	(5,100)
Goodwill, net, ending balance	$ 0	$ 0

Significant Accounting Policies (Details 15) - USD ($) $ in Millions	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Software Development
Computer Software Development Costs for Internal Use
Capitalized costs for computer software developed for internal use, net	$ 0.3	$ 0.8	$ 0.6

Significant Accounting Policies (Details 16) - USD ($) $ in Millions	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Comprehensive Income
Foreign translation adjustments	$ 6.5	$ 9.4	$ 7.3
Maximum
Comprehensive Income
Net unrealized gains (losses) on available for sale securities	$ (0.1)	$ 0.1	$ (0.1)

Significant Accounting Policies (Details 17) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Advertising expenses
Advertising expenses	$ 2.9	$ 2.1	$ 2.9
Research and Development Expense
Technology acquired	3.3	4.9
Maximum
Advertising expenses
Prepaid advertising costs	$ 0.1	$ 0.1

Secured Borrowings and Collateralized Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2015	Jun. 30, 2014
Secured Borrowings and Collateralized Receivables
Total secured borrowings	$ 0.0	$ 0.0

Supplementary Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Property, equipment and leasehold improvements
Accumulated depreciation	$ (35,791)	$ (35,882)
Property, equipment and leasehold improvements-net	18,039	7,588
Computer equipment
Property, equipment and leasehold improvements
Property, equipment and leasehold improvements-at cost	11,614	11,772
Purchased software
Property, equipment and leasehold improvements
Property, equipment and leasehold improvements-at cost	23,338	23,720
Furniture and fixtures
Property, equipment and leasehold improvements
Property, equipment and leasehold improvements-at cost	6,653	4,530
Leasehold improvements
Property, equipment and leasehold improvements
Property, equipment and leasehold improvements-at cost	$ 12,225	$ 3,448

Supplementary Balance Sheet Information (Details 2) - USD ($) $ in Millions	Jun. 30, 2015	Jun. 30, 2014
Asset retirement obligations
Balance of asset retirement obligations	$ 0.6	$ 0.6

Supplementary Balance Sheet Information (Details 3) $ in Thousands	12 Months Ended
	Jun. 30, 2015 USD ($) action	Jun. 30, 2014 USD ($) action	Jun. 30, 2013 USD ($) action
Restructuring charges
Number of restructuring actions taken \| action	0	0	0
Restructuring credits	$ 0	$ 15	$ 5
Accrued facility exit costs	100	100
Cash payments related to accrued facility exit costs			800
Maximum
Restructuring charges
Restructuring credits	100	100	$ 100
Cash payments related to accrued facility exit costs	$ 100	$ 100

Supplementary Balance Sheet Information (Details 4) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Accrued expenses and other current liabilities
Royalties and outside commissions	$ 2,879	$ 3,596
Payroll and payroll-related	18,965	19,347
Other	16,639	12,041
Total accrued expenses and other liabilities	$ 38,483	$ 34,984

Supplementary Balance Sheet Information (Details 5) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Other non-current liabilities
Deferred rent	$ 5,273	$ 402
Other	24,249	11,448
Total other non-current liabilities	$ 29,522	$ 11,850

Supplementary Balance Sheet Information (Details 6) - Office space in Bedford, Massachusetts - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Land-lord funded leasehold improvements
Landlord improvement allowance included in leasehold improvements and deferred rent liability	$ 6.1
Leasehold improvements deemed to be owned by the landlord		$ 1.5
Leasehold improvements, reclassified as a reduction to deferred rent	$ 1.5
Other non-current assets
Land-lord funded leasehold improvements
Land-lord funded leasehold improvements		$ 1.5

Supplementary Balance Sheet Information (Details 7) - USD ($) $ in Millions	Jun. 30, 2015	Jun. 30, 2014
Reserve for uncertain tax positions
Net reserve for uncertain tax positions	$ 22.6	$ 9.3
Gross reserve of uncertain tax positions	$ 22.6	$ 21.2

Common Stock (Details) - USD ($) $ in Thousands	12 Months Ended
Common Stock (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013	Jan. 28, 2015	Apr. 23, 2014	Apr. 23, 2013	Oct. 24, 2012	Nov. 01, 2011
Common Stock
Approved stock repurchase program, authorized amount				$ 450,000	$ 200,000	$ 150,000	$ 100,000	$ 100,000
Repurchase of common stock (in shares)	7,731,428	3,110,114
Repurchase of common stock, amount	$ 298,344	$ 121,776	$ 84,677
Remaining capacity under the stock repurchase program	$ 301,400			$ 25,400

Stock-Based Compensation (Details) - $ / shares	12 Months Ended
Stock-Based Compensation (Details) - $ / shares	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013	Apr. 30, 2010	May 31, 2005
Stock-based compensation, additional disclosures
Common stock reserved for future issuance or settlement (in shares)	5,900,000
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)	4,146,931
2005 Plan
Stock-based compensation, additional disclosures
Maximum number of shares authorized (in shares)					4,000,000
Stock Options
General award terms
Award vesting period	4 years
Weighted average assumptions
Weighted average fair value (in dollars per share)	$ 13.43	$ 11.56	$ 9.76
Risk-free interest rate (as a percent)	1.50%	1.30%	0.60%
Expected dividend yield (as a percent)	0.00%	0.00%	0.00%
Expected life	4 years 7 months 6 days	4 years 7 months 6 days	4 years 9 months 18 days
Expected volatility factor (as a percent)	35.00%	39.00%	49.00%
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 (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Recorded as expenses:
Total stock-based compensation	$ 14,584	$ 14,056	$ 14,637
Cost of services and other
Recorded as expenses:
Total stock-based compensation	1,351	1,239	1,281
Selling and marketing
Recorded as expenses:
Total stock-based compensation	3,056	3,280	3,890
Research and development
Recorded as expenses:
Total stock-based compensation	3,881	4,129	2,969
General and administrative
Recorded as expenses:
Total stock-based compensation	$ 6,296	$ 5,408	$ 6,497

Stock-Based Compensation (Details 3) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2016 USD ($) $ / shares shares	Jun. 30, 2015 USD ($) $ / shares shares	Jun. 30, 2014 USD ($) $ / shares shares	Jun. 30, 2013 USD ($) $ / shares
Weighted Average Grant Date Fair Value
Payments related to tax withholding \| $		$ 5,699	$ 7,831	$ 7,705
Stock Options
Stock options activity
Outstanding, beginning of period (in shares)	1,214,257	1,246,528
Granted (in shares)		315,521
Exercised (in shares)		(308,847)
Cancelled / Forfeited (in shares)		(38,945)
Outstanding, end of period (in shares)		1,214,257	1,246,528
Vested and exercisable, end of period (in shares)		764,052
Vested and expected to vest, end of period (in shares)		1,160,576
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share) \| $ / shares	$ 27.25	$ 20.30
Granted (in dollars per share) \| $ / shares		42.66	$ 33.06	$ 23.40
Exercised (in dollars per share) \| $ / shares		15.10
Cancelled / Forfeited (in dollars per share) \| $ / shares		25.96
Outstanding, end of period (in dollars per share) \| $ / shares		27.25	$ 20.30
Vested and exercisable, end of period (in dollars per share) \| $ / shares		22.00
Vested and expected to vest, end of period (in dollars per share) \| $ / shares		$ 26.57
Weighted Average Remaining Contractual Term
Outstanding, end of period		7 years 3 months 4 days	7 years 1 month 21 days
Vested and exercisable, end of period		6 years 6 months 18 days
Vested and expected to vest, end of period		7 years 2 months 1 day
Aggregate Intrinsic Value
Outstanding, beginning of period \| $	$ 22,232	$ 32,543
Outstanding, end of period \| $		22,232	$ 32,543
Vested and exercisable, end of period \| $		18,000
Vested and expected to vest, end of period \| $		22,024
Weighted Average Grant Date Fair Value
Total unrecognized compensation cost \| $		$ 4,900
Total unrecognized compensation cost, period of recognition		2 years 6 months
Total intrinsic value of options exercised \| $		$ 8,200	19,900	$ 55,700
Cash proceeds from option exercises \| $		4,600	8,700	21,100
Payments related to tax withholding \| $		$ 5,700	$ 7,800	$ 7,700
Stock Options \| Forecast
Stock options activity
Granted (in shares)	350,933
Restricted Stock Units
Restricted stock units activity
Outstanding, beginning of period (in shares)	542,432	617,269
Granted (in shares)		373,071
Settled (in shares)		(408,654)
Cancelled / Forfeited (in shares)		(39,254)
Outstanding, end of period (in shares)		542,432	617,269
Vested and expected to vest (in shares)		478,028
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share) \| $ / shares	$ 36.13	$ 25.74
Granted (in dollars per share) \| $ / shares		42.65	$ 33.07	$ 23.46
Settled (RSUs) (in dollars per share) \| $ / shares		27.23
Cancelled / Forfeited (in dollars per share) \| $ / shares		27.29
Outstanding, end of period (in dollars per share) \| $ / shares		$ 36.13	$ 25.74
Vested and expected to vest, end of period (in dollars per share) \| $ / shares		36.48
Total fair value of shares vested from RSU grants \| $		$ 16,100	$ 22,200	$ 22,500
Total unrecognized compensation cost \| $		$ 17,400
Total unrecognized compensation cost, period of recognition		2 years 6 months
Restricted Stock Units \| Forecast
Restricted stock units activity
Granted (in shares)	320,968

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Income (loss) before provision for income taxes
Domestic	$ 175,805	$ 121,329	$ 54,587
Foreign	3,666	7,204	2,851
Income (loss) before provision for (benefit from) income taxes	179,471	128,533	57,438
Federal
Current	0	0	0
Deferred	55,895	32,996	7,867
State
Current	2,176	528	136
Deferred	729	1,005	693
Foreign
Current	3,382	7,785	7,068
Deferred	(1,118)	436	(3,588)
Provision for (benefit from) income taxes	$ 61,064	$ 42,750	$ 12,176

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Income Tax Reconciliation
Federal tax provision (benefit) at statutory rate	$ 62,815	$ 44,989	$ 20,103
State income taxes	2,114	78	88
Subpart F and dividend income	2,799	6,667	4,456
Foreign taxes and rate differences	(222)	1,881	2,298
Stock-based compensation	763	631	900
Tax credits	(3,562)	(8,902)	(4,816)
Tax contingencies	(641)	(261)	(168)
Return to provision adjustments	384	150	(149)
Domestic production activity deduction	(3,600)	(2,443)	0
Valuation allowance	176	(16)	(1,813)
Benefit from foreign restructuring	0	0	(9,266)
Other	38	(24)	543
Provision for (benefit from) income taxes	$ 61,064	$ 42,750	$ 12,176

Income Taxes (Details 3) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Deferred tax assets:
Federal and state credits	$ 2,144	$ 4,354
Foreign tax credits	0	4,752
Federal and state loss carryforwards	0	104
Capital loss carryforwards	8,028	8,012
Foreign loss carryforwards	2,133	1,672
Deferred revenue	5,620	4,823
Restructuring accruals	19	26
Other reserves and accruals	6,819	6,074
Intangible assets	2,478	419
Property, leasehold improvements, and other basis differences	2,136	2,005
Other temporary differences	2,916	3,065
Deferred tax assets, total	32,293	35,306
Deferred tax liabilities:
Deferred revenue	(1,362)	(194)
Intangible assets	(1,065)	(1,295)
Property, leasehold improvements, and other basis differences	(2,812)	(298)
Other temporary differences	(645)	(826)
Deferred tax liabilities, total	(5,884)	(2,613)
Valuation allowance	10,144	9,959
Net deferred tax assets	$ 16,265	$ 22,734

Income Taxes (Details 4) $ in Millions	Jun. 30, 2015 USD ($)
Foreign
Operating Loss Carryforwards
Net operating loss carryforwards	$ 8.0

Income Taxes (Details 5) $ in Millions	Jun. 30, 2015 USD ($)
Research and development tax credit carryforward \| State
Tax Credit Carryforward
Tax credit carryforward	$ 1.8
Research and development tax credit carryforward \| Domestic \| U.S. Federal
Tax Credit Carryforward
Tax credit carryforward	1.9
Alternative minimum tax credit carryforward \| Domestic \| U.S. Federal
Tax Credit Carryforward
Tax credit carryforward	0.4
Foreign tax credit carryforwards \| Domestic \| U.S. Federal
Tax Credit Carryforward
Tax credit carryforward	$ 2.6

Income Taxes (Details 6) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 6) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Reduction in income taxes payable
Reduction in income taxes payable	$ 37,024	$ 727	$ 478
Deferred tax liability eliminated on restructuring			9,300
Capital loss recognized for tax purposes			$ 22,200
Deferred tax asset valuation allowance
Deferred tax asset valuation allowance	$ 10,144	$ 9,959

Income Taxes (Details 7) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 7) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Reconciliation of the reserve for uncertain tax positions
Unrecognized tax positions, beginning of year	$ 21,193	$ 22,031	$ 21,906
Gross increases-tax positions in prior period	238	112	1,150
Gross decreases-lapse of statutes	(1,024)	(823)	(1,172)
Currency translation adjustment	(537)	(127)	147
Unrecognized tax positions, end of year	19,870	$ 21,193	$ 22,031
Unrecognized tax benefits that if recognized would reduce the effective tax rate	19,900
Accrued interest	1,900
Accrued penalties related to uncertain tax positions	800
Benefit for interest and penalties	$ 200

Commitments and Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Operating Leases
Rent expense	$ 8,300	$ 7,100	$ 6,700
Gross Payments
2016	8,325
2017	5,607
2018	5,015
2019	4,770
2020	4,469
Thereafter	17,775
Total	45,961
Scheduled Sublease Payments
2016	159
2017	13
2018	0
2019	0
2020	0
Thereafter	0
Total	172
Net Payments
2015	8,166
2016	5,594
2017	5,015
2018	4,770
2019	4,469
Thereafter	17,775
Total	$ 45,789

Commitments and Contingencies (Details 2) $ in Thousands	1 Months Ended
Commitments and Contingencies (Details 2) $ in Thousands	Aug. 31, 2015 USD ($) ft²	Jun. 30, 2015 USD ($)
Operating Leases
Future minimum non-cancelable lease payments		$ 45,961
Standby letters of credit		2,200
Office Location In Houston, Texas
Operating Leases
Future minimum non-cancelable lease payments		$ 1,800
Subsequent Event \| Office Location In Houston, Texas
Operating Leases
Future minimum non-cancelable lease payments	$ 9,900
Sublease rental payments not received	200
Subsequent Event \| Office Location In Houston, Texas \| Minimum
Operating Leases
Base annual rent expense	1,300
Subsequent Event \| Office Location In Houston, Texas \| Maximum
Operating Leases
Base annual rent expense	1,500
Subsequent Event \| Office location In Singapore
Operating Leases
Future minimum non-cancelable lease payments	3,100
Base annual rent expense	$ 600
Initial term of lease	60 months
Area of office space (in square feet) \| ft²	11,343
Extension period of lease term	36 months
Aggregate capital expenditures with respect to the leased premises	$ 1,100
Remaining payments under capital expenditure contractual obligations expected to be made in fiscal 2016	$ 700

Commitments and Contingencies (Details 3) $ in Millions	1 Months Ended
Commitments and Contingencies (Details 3) $ in Millions	Mar. 31, 2014 USD ($)	Jun. 30, 2015 item
Legal Matters
Amount of damages sought \| $	$ 2.6
Matters that might have a material adverse effect on financial position, results of operations or cash flows \| item		0

Retirement and Profit Sharing Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Retirement and Profit Sharing Plans
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	$ 2.2	$ 2.0	$ 1.9

Segment and Geographic Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
Segment and Geographic Information (Details) $ in Thousands	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Sep. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Sep. 30, 2013 USD ($)	Jun. 30, 2015 USD ($) segment	Jun. 30, 2014 USD ($) segment	Jun. 30, 2013 USD ($) segment
Segment and Geographic Information
Number of operating segments \| segment									2	2	3
Number of reportable segments \| segment									2	2	3
Summary of operating segments
Segment revenue	$ 114,186	$ 111,299	$ 107,790	$ 107,126	$ 101,532	$ 103,587	$ 98,769	$ 87,565	$ 440,401	$ 391,453	$ 311,387
Segment expenses									(211,896)	(215,925)	(206,519)
Segment profit	$ 46,906	$ 41,731	$ 46,521	$ 44,634	$ 37,361	$ 31,402	$ 36,112	$ 24,849	179,792	129,724	55,600
Operating segments
Summary of operating segments
Segment profit									228,505	175,528	104,868
Subscription and software
Summary of operating segments
Segment revenue									405,640	350,486	276,585
Segment expenses									(183,485)	(183,378)	(176,319)
Subscription and software \| Operating segments
Summary of operating segments
Segment profit									222,155	167,108	100,266
Services
Summary of operating segments
Segment revenue									34,761	40,967	34,802
Segment expenses									(28,411)	(32,547)	(30,200)
Services \| Operating segments
Summary of operating segments
Segment profit									$ 6,350	$ 8,420	$ 4,602

Segment and Geographic Information (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Reconciliation to Income Before Income Taxes
Segment profit	$ 46,906	$ 41,731	$ 46,521	$ 44,634	$ 37,361	$ 31,402	$ 36,112	$ 24,849	$ 179,792	$ 129,724	$ 55,600
General and administrative									(48,713)	(45,819)	(49,273)
Restructuring charges									0	15	5
Other income (expense), net									(778)	(2,278)	(1,117)
Interest income (net)									457	1,087	2,955
Income before provision for income taxes									179,471	128,533	57,438
Operating segments
Reconciliation to Income Before Income Taxes
Segment profit									$ 228,505	$ 175,528	$ 104,868

Segment and Geographic Information (Details 3) - Geographic concentration risk - Revenue	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
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	34.60%	35.50%	38.50%
Europe
Geographic Information
Sales as a percentage of total revenue	30.60%	30.20%	29.30%
Other
Geographic Information
Sales as a percentage of total revenue	34.80%	34.30%	32.20%

Segment and Geographic Information (Details 4) - USD ($) $ in Millions	Jun. 30, 2015	Jun. 30, 2014
United States
Geographic Information
Long-lived assets	$ 23.8	$ 16.7
Other geographic locations
Geographic Information
Long-lived assets	$ 14.2	$ 16.8

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Quarterly Financial Data (Unaudited)
Total revenue	$ 114,186	$ 111,299	$ 107,790	$ 107,126	$ 101,532	$ 103,587	$ 98,769	$ 87,565	$ 440,401	$ 391,453	$ 311,387
Gross profit	101,565	98,990	95,525	94,745	88,653	88,299	86,326	75,487	390,825	338,765	261,039
Income from operations	46,906	41,731	46,521	44,634	37,361	31,402	36,112	24,849	179,792	129,724	55,600
Net income	$ 30,806	$ 28,170	$ 30,464	$ 28,967	$ 26,678	$ 20,843	$ 23,263	$ 14,999	$ 118,407	$ 85,783	$ 45,262
Net income per common share:
Basic (in dollars per share)	$ 0.36	$ 0.32	$ 0.34	$ 0.32	$ 0.29	$ 0.23	$ 0.25	$ 0.16	$ 1.34	$ 0.93	$ 0.48
Diluted (in dollars per share)	$ 0.36	$ 0.32	$ 0.34	$ 0.32	$ 0.29	$ 0.22	$ 0.25	$ 0.16	$ 1.33	$ 0.92	$ 0.47
Weighted average shares outstanding:
Basic (in shares)	85,056	87,355	89,942	91,183	91,916	92,414	92,839	93,410	88,398	92,648	93,586
Diluted (in shares)	85,585	87,853	90,471	91,891	92,710	93,365	93,816	94,522	89,016	93,665	95,410