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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Mar. 31, 2016	Apr. 21, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	ASPEN TECHNOLOGY INC /DE/
Entity Central Index Key	0000929940
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		81,867,428
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Subscription and software	$ 111,722	$ 102,543	$ 333,707	$ 300,002
Services and other	7,495	8,756	24,957	26,213
Total revenue	119,217	111,299	358,664	326,215
Cost of revenue:
Subscription and software	5,266	5,404	15,475	15,813
Services and other	6,754	6,905	21,405	21,142
Total cost of revenue	12,020	12,309	36,880	36,955
Gross profit	107,197	98,990	321,784	289,260
Operating expenses:
Selling and marketing	23,090	23,160	66,704	67,599
Research and development	17,820	20,323	50,398	52,548
General and administrative	15,606	13,776	42,273	36,227
Total operating expenses, net	56,516	57,259	159,375	156,374
Income from operations	50,681	41,731	162,409	132,886
Interest income	90	122	243	389
Interest expense	(330)	(1)	(344)	(8)
Other income (expense), net	(2,686)	414	(1,947)	354
Income before provision for income taxes	47,755	42,266	160,361	133,621
Provision for income taxes	14,584	14,096	53,736	46,020
Net income	$ 33,171	$ 28,170	$ 106,625	$ 87,601
Net income per common share:
Basic (in dollars per share)	$ 0.40	$ 0.32	$ 1.28	$ 0.98
Diluted (in dollars per share)	$ 0.40	$ 0.32	$ 1.27	$ 0.97
Weighted average shares outstanding:
Basic (in shares)	83,081	87,355	83,425	89,509
Diluted (in shares)	83,373	87,853	83,842	90,121

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 33,171	$ 28,170	$ 106,625	$ 87,601
Other comprehensive loss:
Net unrealized gains (losses) on available for sale securities, net of tax effects of ($7) and ($11) for the three and nine months ended March 31, 2016, and ($28) and $14 for the three and nine months ended March 31, 2015	13	53	21	(25)
Foreign currency translation adjustments	(31)	(1,846)	(2,192)	(4,321)
Total other comprehensive loss	(18)	(1,793)	(2,171)	(4,346)
Comprehensive income	$ 33,153	$ 26,377	$ 104,454	$ 83,255

- 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	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net unrealized gains (losses) on available for sale securities, tax effects	$ (7)	$ (28)	$ (11)	$ 14

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 96,910	$ 156,249
Short-term marketable securities	9,025	59,197
Accounts receivable, net	21,749	30,721
Prepaid expenses and other current assets	8,991	10,752
Acquisition bid related deposits	251,670	0
Prepaid income taxes	525	542
Current deferred tax assets	6,117	6,169
Total current assets	394,987	263,630
Long-term marketable securities	0	3,047
Property, equipment and leasehold improvements, net	15,938	18,039
Computer software development costs, net	539	1,026
Goodwill	16,781	17,360
Non-current deferred tax assets	9,731	10,444
Other non-current assets	1,455	1,815
Total assets	439,431	315,361
Current liabilities:
Accounts payable	3,877	5,240
Accrued expenses and other current liabilities	34,627	38,483
Income taxes payable	3,509	1,775
Borrowings under credit agreement	140,000	0
Current deferred revenue	234,285	250,968
Total current liabilities	416,298	296,466
Non-current deferred revenue	30,537	37,919
Other non-current liabilities	28,051	29,522
Commitments and contingencies (Note 13)
Series D redeemable convertible preferred stock
$0.10 par value- Authorized- 3,636 shares as of March 31, 2016 and June 30, 2015 Issued and outstanding- none as of March 31, 2016 and June 30, 2015	0	0
Stockholders' deficit:
Common stock, $0.10 par value- Authorized-210,000,000 shares Issued- 101,920,507 shares at March 31, 2016 and 101,607,520 shares at June 30, 2015 Outstanding- 82,030,943 shares at March 31, 2016 and 84,504,202 shares at June 30, 2015	10,192	10,161
Additional paid-in capital	655,555	641,883
Accumulated deficit	(39,002)	(145,627)
Accumulated other comprehensive income	4,299	6,470
Treasury stock, at cost-19,889,564 shares of common stock at March 31, 2016 and 17,103,318 shares at June 30, 2015	(666,499)	(561,433)
Total stockholders' deficit	(35,455)	(48,546)
Total liabilities and stockholders' deficit	$ 439,431	$ 315,361

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2016	Jun. 30, 2015
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	101,920,507	101,607,520
Common stock, outstanding	82,030,943	84,504,202
Treasury stock, shares	19,889,564	17,103,318

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 106,625	$ 87,601
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,519	4,616
Net foreign currency losses (gains)	1,421	(2,715)
Stock-based compensation	12,313	11,122
Deferred income taxes	695	21,317
Provision for (recovery from) bad debts	174	(471)
Tax benefits from stock-based compensation	1,878	21,843
Excess tax benefits from stock-based compensation	(1,878)	(21,843)
Other non-cash operating activities	257	1,401
Changes in assets and liabilities:
Accounts receivable	8,513	10,897
Prepaid expenses, prepaid income taxes, and other assets	3,446	6,069
Accounts payable, accrued expenses, income taxes payable and other liabilities	(5,583)	(1,198)
Deferred revenue	(23,485)	(222)
Net cash provided by operating activities	108,895	138,417
Cash flows from investing activities:
Purchases of marketable securities	0	(50,065)
Maturities of marketable securities	52,965	66,923
Purchases of property, equipment and leasehold improvements	(2,530)	(5,914)
Acquisition related deposits	(255,067)	0
Payments for capitalized computer software costs	0	(315)
Net cash (used in) provided by investing activities	(204,632)	10,629
Cash flows from financing activities:
Exercises of stock options	2,862	2,046
Repurchases of common stock	(103,128)	(222,878)
Payments of tax withholding obligations related to restricted stock	(3,404)	(3,874)
Excess tax benefits from stock-based compensation	1,878	21,843
Proceeds from credit agreement	140,000	0
Payments of credit agreement issuance costs	(1,587)	0
Net cash provided by (used in) financing activities	36,621	(202,863)
Effect of exchange rate changes on cash and cash equivalents	(223)	(1,747)
Decrease in cash and cash equivalents	(59,339)	(55,564)
Cash and cash equivalents, beginning of period	156,249	199,526
Cash and cash equivalents, end of period	96,910	143,962
Supplemental disclosure of cash flow information:
Income taxes paid, net	51,612	2,933
Supplemental disclosure of non-cash investing and financing activities:
Change in landlord improvement allowance included in leasehold improvements and deferred rent liability	0	6,064
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses	(874)	1,913
Change in common stock repurchases included in accrued expenses	$ 1,938	$ 2,450

Interim Unaudited Consolidated Financial Statements	9 Months Ended
Interim Unaudited Consolidated Financial Statements	Mar. 31, 2016
Interim Unaudited Consolidated Financial Statements
Interim Unaudited Consolidated Financial Statements	1. Interim Unaudited Consolidated Financial Statements The accompanying interim unaudited consolidated financial statements of Aspen Technology, Inc. and its subsidiaries have been prepared on the same basis as our annual consolidated financial statements. We have omitted certain information and footnote disclosures normally included in our annual consolidated financial statements. Such interim unaudited consolidated financial statements have been prepared in conformity with U.S. Generally Accepted Accounting Principles (GAAP), as defined in the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 270, Interim Reporting, for interim financial information and with the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. It is suggested that these unaudited consolidated financial statements be read in conjunction with the audited consolidated financial statements for the year ended June 30, 2015, which are contained in our Annual Report on Form 10-K, as previously filed with the U.S. Securities and Exchange Commission (SEC). In the opinion of management, all adjustments, consisting of normal and recurring adjustments, considered necessary for a fair presentation of the financial position, results of operations, and cash flows at the dates and for the periods presented have been included and all intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the three and nine months ended March 31, 2016 are not necessarily indicative of the results to be expected for the subsequent quarter or for the full fiscal year. The preparation of financial statements in conformity with GAAP 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. Unless the context requires otherwise, references to we, our and us refer to Aspen Technology, Inc. and its subsidiaries.

Significant Accounting Policies

9 Months Ended

Mar. 31, 2016

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.

(b)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 a 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.

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 primarily under fixed-term licenses 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 nor in the three and nine months ended March 31, 2016 and is not expected to have a material impact on our revenue in future periods.

We allocate the arrangement consideration among the elements included in our multi-element arrangements using the residual method. Under the residual method, the VSOE of the undelivered elements is deferred and the remaining portion of the arrangement fee is recognized as revenue upon delivery of the software, assuming all other revenue recognition criteria are met. If VSOE does not exist for an undelivered element in an arrangement, revenue is deferred until such evidence does exist for the undelivered elements, or until all elements are delivered, whichever is earlier. Under the upfront revenue model, the residual license fee is recognized upon delivery of the software provided all other revenue recognition criteria were met.

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 nor in the three and nine months ended March 31, 2016 and is not expected to have a material impact on our revenue in future periods.

Services and Other Revenue

Professional Services Revenue

Professional services are provided to customers on a time-and-materials (T&M) or fixed-price basis. We recognize professional services fees for our T&M contracts based upon hours worked and contractually agreed-upon hourly rates. Revenue from fixed-price engagements is recognized using the proportional performance method based on the ratio of costs incurred to the total estimated project costs. Project costs are typically expensed as incurred. The use of the proportional performance method is dependent upon our ability to reliably estimate the costs to complete a project. We use historical experience as a basis for future estimates to complete current projects. Additionally, we believe that costs are the best available measure of performance. Out-of-pocket expenses which are reimbursed by customers are recorded as revenue.

In certain circumstances, professional services revenue may be recognized over a longer time period than the period over which the services are performed. If the costs to complete a project are not estimable or the completion is uncertain, the revenue is recognized upon completion of the services. In circumstances in which professional services are sold as a single arrangement with, or in contemplation of, a new aspenONE license or point product arrangement with Premier Plus SMS, revenue is deferred and recognized on a ratable basis over the longer of (i) the period the services are performed, or (ii) the license term. When we provide professional services considered essential to the functionality of the software, we recognize the combined revenue from the sale of the software and related services using the completed contract or percentage-of-completion method.

We have occasionally been required to commit unanticipated additional resources to complete projects, which resulted in losses on those contracts. Provisions for estimated losses on contracts are made during the period in which such losses become probable and can be reasonably estimated.

Training Revenue

We provide training services to our customers, including on-site, Internet-based, public and customized training. Revenue is recognized in the period in which the services are performed. In circumstances in which training services are sold as a single arrangement with, or in contemplation of, a new aspenONE license or point product arrangement with Premier Plus SMS, revenue is deferred and recognized on a ratable basis over the longer of (i) the period the services are performed or (ii) the license term.

Deferred Revenue

Deferred revenue includes amounts billed or collected in advance of revenue recognition, including arrangements under the aspenONE licensing model, point product arrangements with Premier Plus SMS, legacy SMS arrangements, professional services, and training. Under the aspenONE licensing model and for point product arrangements with Premier Plus SMS, VSOE does not exist for the undelivered elements, and as a result, the arrangement fees are recognized ratably (i.e., on a subscription basis) over the term of the license. Deferred revenue is recorded as each invoice becomes due.

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 March 31, 2016 and June 30, 2015, we had not experienced any material losses related to these indemnification obligations and no claims with respect thereto were outstanding. We do not expect significant claims related to these indemnification obligations, and consequently, have not established any related reserves.

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. Please refer to Note 13 for discussion of these matters and related liability accruals.

(d)Foreign Currency Transactions

Foreign currency exchange gains and losses generated from the settlement and remeasurement of transactions denominated in currencies other than the functional currency of our subsidiaries are recognized in our results of operations as incurred as a component of other income (expense), net. Net foreign currency gains (losses) were ($2.7) million and ($2.0) million during the three and nine months ended March 31, 2016, which included $(3.4) million of foreign exchange losses resulting from amounts in escrow (refer to Note 4 for further discussion of the Acquisition Bid) and $0.4 million during both the three-month and nine-month periods ended March 31, 2015.

(e)Recently Issued Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU No. 2014-09 was issued by the FASB as a part of the joint project with the International Accounting Standards Board (IASB) to clarify revenue recognition principles and develop a common revenue standard for the U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).

ASU No. 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption of ASU No. 2014-09 is permitted but not before December 15, 2016. The amendments included within ASU No. 2014-09 should be applied by using one of the following methods:

Retrospectively to each prior reporting period presented. The entity may elect any of the practical expedients described in ASU No. 2014-09 when applying this method.

Retrospectively with the cumulative effect of initially applying ASU No. 2014-09 recognized at the date of initial application. In the reporting periods that include the date of the initial application of ASU No. 2014-09, the entity should disclose the amount by which each financial statement line item is affected by the application of ASU No. 2014-09 in the current reporting period as compared to the guidance that was in effect before the change.

We will adopt ASU No. 2014-09 during the first quarter of fiscal 2019. We are currently evaluating the impact of ASU No. 2014-09 on our financial position, results of operations and cash flows.

In April 2015, the FASB issued ASU No. 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement. The amendment provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not include a software license, the customer should account for a cloud computing arrangement as a service contract.The amendment will be effective for annual reporting periods beginning on or after December 15, 2015. We are currently evaluating the impact of ASU No. 2015-05 on our financial position, results of operations and cash flows.

In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. ASU 2015-03 amends current presentation guidance by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Prior to the issuance of ASU No. 2015-03, debt issuance costs were required to be presented as an asset on the balance sheet. In August 2015, the FASB issued ASU No. 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. ASU No. 2015-15 states that debt issuance costs related to line of credit arrangements can be presented as an asset, similar to the treatment prior to the issuance of ASU No. 2015-03. We adopted the provisions of ASU No. 2015-03 and ASU No. 2015-15 during the second quarter of fiscal 2016. As of March 31, 2016, the issuance costs related to our Credit Agreement (as described in Note 9) were recorded in prepaid expenses and other current assets in our consolidated balance sheet. Adjustments to prior periods to conform to the current period presentation were not required as we did not have deferred finance costs on the balance sheet in prior periods.

In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments, which eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. The ASU instead requires an acquirer to recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment. The ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. We adopted ASU No. 2015-16 during the second quarter of fiscal 2016. The adoption of ASU No. 2015-16 did not impact our consolidated financial position, results of operations or cash flows because we did not have any business combinations during those periods.

In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. The amendment requires entities with a classified balance sheet to present all deferred tax assets and liabilities as noncurrent. The ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2016. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2015-17 on our financial position.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). Under the amendment, lessees will be required to recognize virtually all of their leases on the balance sheet, by recording a right-of-use asset and lease liability. The ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2016-02 on our financial position, results of operations and cash flows.

In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net). The amendment clarifies the implementation guidance for principal versus agent considerations as contained in ASU No. 2014-09, Revenue from Contracts with Customers. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to a customer. ASU No. 2016-08 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption of ASU No. 2016-08 is permitted but not before December 15, 2016. We will adopt ASU No. 2016-08 during the first quarter of fiscal 2019. We are currently evaluating the impact of ASU No. 2016-08 on our financial position, results of operations and cash flows.

In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendment identifies several areas for simplification applicable to entities that issue share-based payment awards to their employees, including income tax consequences, the option to recognize gross stock compensation expense with actual forfeitures recognized when they occur, and certain classifications on the statements of cash flows. The ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2016. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2016-09 on our financial position, results of operations and cash flows.

(f)Other

For further information with regard to our “Significant Accounting Policies,” please refer to Note 2 of our Consolidated Financial Statements and Notes thereto included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2015.

Marketable Securities

9 Months Ended

Mar. 31, 2016

Marketable Securities

Marketable Securities

3. Marketable Securities

The following table summarizes the fair value, the amortized cost and unrealized holding gains (losses) on our marketable securities as of March 31, 2016 and June 30, 2015:

	Fair Value		Cost		Unrealized Gains		Unrealized Losses
	(Dollars in Thousands)
March 31, 2016:
U.S. corporate bonds	$	9,025	$	9,026	$	1	$	(2	)

Total short-term marketable securities	$	9,025	$	9,026	$	1	$	(2	)


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	)

Our marketable securities were classified as available-for-sale and reported at fair value on the unaudited consolidated balance sheets. Net unrealized gains (losses) were reported as a separate component of accumulated other comprehensive income, net of tax. Realized gains (losses) on investments were recognized in earnings as incurred. Our investments consisted primarily of investment grade fixed income corporate debt securities with maturity dates ranging from May 2016 through August 2016 as of March 31, 2016 and from July 2015 through August 2016 as of June 30, 2015.

We review our marketable securities for impairment at each reporting period to determine if any of our securities have experienced an other-than-temporary decline in fair value in accordance with the provisions of ASC Topic 320, Investments- Debt and Equity Securities. We consider factors, such as the length of time and extent to which the market value has been less than the cost, the financial condition and near-term prospects of the issuer, our intent to sell, and 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. As of March 31, 2016 and 2015, our marketable securities were not considered other-than-temporarily impaired and, as such, we did not recognize impairment losses during the three and nine month periods then ended. Unrealized losses were attributable to changes in interest rates.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Acquisition Bid	9 Months Ended
Acquisition Bid	Mar. 31, 2016
Acquisition Bid
Acquisition Bid	4. Acquisition Bid On January 12, 2016, we announced the terms of a recommended all cash offer (the “Offer”) for the share capital of KBC Advanced Technologies plc (“KBC”). Under the terms of the Offer (the “Acquisition Bid”), KBC shareholders would have received 185 Pence Sterling in cash for each share, which valued KBC at approximately £158 million. The Offer was conditioned on, among other things, KBC’s shareholder approval and the approval of the High Court of Justice of England and Wales. The Offer was to have been funded by cash on hand of approximately $91.0 million and $140.0 million from a bridge credit agreement (the “Bridge Credit Agreement”) entered into on January 12, 2016 with JPMorgan Chase Bank, N.A. (“JPMCB”). We deposited $91.0 million in escrow along with $23.1 million to fund potential foreign exchange fluctuations and $0.8 million for potential costs. On February 26, 2016, we entered into a credit agreement (the “Credit Agreement”), providing for a principal amount of up to $250.0 million (refer to Note 9 for further discussion of the Credit Agreement). On the same day, we borrowed $140.0 million under the Credit Agreement and deposited the amount in the escrow account, and canceled the Bridge Credit Agreement. On February 17, 2016, KBC announced it had agreed to accept an acquisition offer of 210 Pence Sterling per share from Yokogawa Electric Corporation (“Yokogawa”) and we announced we did not intend to revise our offer. On April 7, 2016, Yokogawa completed its acquisition of KBC and on April 8, 2016, $251.7 million was returned to us from the escrow account. During the three months ended March 31, 2016, a portion of the escrow balance was held in GBP for a period of time, which resulted in $3.4 million of foreign exchange losses and fees that were recognized in our results of operations as a component of other income (expense), net. During the three and nine months ended March 31, 2016, we incurred $4.2 million and $5.2 million, respectively, of costs related to the Acquisition Bid and the Bridge Credit Agreement which were recognized in our results of operations as a component of general and administrative expenses.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Goodwill

9 Months Ended

Mar. 31, 2016

Goodwill

Goodwill

5. Goodwill

The changes in the carrying amount of goodwill for our subscription and software reporting unit during the nine months ended March 31, 2016 and fiscal year ended June 30, 2015 were as follows:

	Amount
	(Dollars in Thousands)
Balance as of June 30, 2014:
Goodwill	$	84,845
Accumulated impairment losses	(65,569		)

	$	19,276


Effect of currency translation	(1,916		)


Balance as of June 30, 2015:
Goodwill	$	82,929
Accumulated impairment losses	(65,569		)

	$	17,360


Effect of currency translation	(579		)


Balance as of March 31, 2016:
Goodwill	$	82,350
Accumulated impairment losses	(65,569		)

	$	16,781

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, 2015 and, based upon the results of our qualitative assessment, determined that it was not likely that its fair value was less than its carrying amount. As such, we did not perform the two-step goodwill impairment test and did not recognize impairment losses as a result of our analysis. If an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value, goodwill will be evaluated for impairment between annual tests. No triggering events indicating goodwill impairment occurred during the three and nine months ended March 31, 2016.

Income Taxes	9 Months Ended
Income Taxes	Mar. 31, 2016
Income Taxes
Income Taxes	6. Income Taxes The effective tax rate for the periods presented was primarily the result of income earned in the U.S., taxed at U.S. federal and state statutory income tax rates, income earned in foreign tax jurisdictions taxed at the applicable rates, as well as the impact of permanent differences between book and tax income. Our effective tax rate for the three months ended March 31, 2016 was 30.6% as compared to 33.4% for the corresponding period of the prior fiscal year. Our effective tax rate for the nine months ended March 31, 2016 was 33.5% as compared to 34.4% for the corresponding period of the prior fiscal year. Our effective tax rate decreased for the three and nine months ended March 31, 2016 compared to the same period in 2015 primarily due to a statutory reversal of a FIN 48 liability. During the three and nine months ended March 31, 2016 and 2015, our income tax expense was driven primarily by pre-tax profitability in our domestic and foreign operations, the impact of permanent items, and the 2016 statutory reversal of a FIN 48 liability mentioned above. The permanent items are predominately a U.S. domestic production activity deduction being slightly offset by non-deductible stock-based compensation expense. Our effective tax rate for the three and nine months ended March 31, 2016 and 2015 differs from the U.S. federal statutory income tax rate primarily as a result of the impact of the permanent items. We use the “with and without” ordering approach to calculate our tax provision. This methodology requires us to utilize all other tax attributes before recognizing excess tax benefits. Excess tax benefits are generated when the deductible value of stock-based compensation for income tax purposes exceeds the value recognized for financial statement purposes. Excess tax benefits are not included as a component of deferred tax assets. When realized, excess tax benefits reduce income taxes payable and increase additional paid in capital. In our unaudited consolidated statements of cash flows, the excess tax benefits of $1.9 million and $21.8 million were reported as sources of cash flows from financing activities with offsetting reductions to cash flows from operating activities during the nine months ended March 31, 2016 and 2015, respectively. 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 those earnings 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.

Fair Value	9 Months Ended
Fair Value	Mar. 31, 2016
Fair Value
Fair Value	7. Fair Value We determine fair value by utilizing a fair value hierarchy that ranks the quality and reliability of the information used in its determination. Fair values determined using “Level 1 inputs” utilize unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access. Fair values determined using “Level 2 inputs” utilize data points that are observable, such as quoted prices, interest rates and yield curves for similar assets and liabilities. Cash equivalents of $39.0 million and $130.2 million as of March 31, 2016 and June 30, 2015, respectively, were 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 of $9.0 million and $62.2 million as of March 31, 2016 and June 30, 2015, respectively, were reported at fair value calculated in accordance with the market approach, utilizing market consensus pricing models with quoted prices that were directly or indirectly observable, or “Level 2 inputs.” Financial instruments not measured or recorded at fair value in the accompanying unaudited consolidated financial statements consist of accounts receivable, installments receivable and accounts payable. The estimated fair value of these financial instruments approximates their carrying value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Supplementary Balance Sheet Information

9 Months Ended

Mar. 31, 2016

Supplementary Balance Sheet Information

Supplementary Balance Sheet Information

8. Supplementary Balance Sheet Information

Our accounts receivable, net of the related allowance for doubtful accounts, were as follows as of March 31, 2016 and June 30, 2015.

	Gross		Allowance		Net
	(Dollars in Thousands)
March 31, 2016:
Accounts receivable	$	23,918	$	2,169	$	21,749

	$	23,918	$	2,169	$	21,749


June 30, 2015:
Accounts receivable	$	32,357	$	1,636	$	30,721

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

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

	March 31, 2016			June 30, 2015
	(Dollars in Thousands)
Property, equipment and leasehold improvements - at cost:
Computer equipment	$	10,272		$	11,614
Purchased software	23,154			23,338
Furniture & fixtures	6,735			6,653
Leasehold improvements	12,202			12,225
Accumulated depreciation	(36,425		)	(35,791		)

Property, equipment and leasehold improvements - net	$	15,938		$	18,039

During the nine months ended March 31, 2016, we wrote off fully depreciated property, equipment and leasehold improvements that were no longer in use with gross book values of $2.9 million.

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

	March 31, 2016		June 30, 2015
	(Dollars in Thousands)

Royalties and outside commissions	$	3,000	$	2,879
Payroll and payroll-related	13,264		18,965
Other	18,363		16,639

Total accrued expenses and other current liabilities	$	34,627	$	38,483

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

	March 31, 2016		June 30, 2015
	(Dollars in Thousands)

Deferred rent	$	6,177	$	5,273
Other (1)	21,874		24,249

Total other non-current liabilities	$	28,051	$	29,522

(1)

Other was comprised primarily of our reserve for uncertain tax positions of $20.0 million and $22.6 million as of March 31, 2016 and June 30, 2015, respectively.

Credit Agreement	9 Months Ended
Credit Agreement	Mar. 31, 2016
Credit Agreement
Credit Agreement	9. Credit Agreement On February 26, 2016, in conjunction with the Acquisition Bid described in Note 4, we entered into a Credit Agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, Silicon Valley Bank, as syndication agent, and the lenders and other parties named therein (the “Lenders”), providing for a principal amount of up to $250.0 million. The indebtedness evidenced by the Credit Agreement matures on February 26, 2021. Prior to the maturity of the Credit Agreement, any amounts borrowed may be repaid and, subject to the terms and conditions of the Credit Agreement, borrowed again in whole or in part without penalty. As of March 31, 2016, we had $140.0 million in outstanding borrowings under the Credit Agreement, which was utilized for the Acquisition Bid related escrow described in Note 4. Borrowings under the Credit Agreement bear interest at a rate equal to either, at our option, the sum of (a) the highest of (1) the rate of interest publicly announced by JPMorgan Chase Bank, N.A. as its prime rate in effect, (2) the Federal Funds Effective Rate plus 0.5%, and (3) the one-month Adjusted LIBO Rate plus 1.0%, plus (b) a margin initially of 0.5% for the first full fiscal quarter ending after the date of the Credit Agreement and thereafter based on our Leverage Ratio; or the Adjusted LIBO Rate plus a margin initially of 1.5% for the first full fiscal quarter ending after the date of the Credit Agreement and thereafter based on our Leverage Ratio. We must also pay, on a quarterly basis, an unused commitment fee at a rate of between 0.2% and 0.3% per annum, based on our Leverage Ratio. All borrowings under the Credit Agreement are secured by liens on substantially all of our assets. The Credit Agreement contains affirmative and negative covenants customary for facilities of this type, including restrictions on: incurrence of additional debt; liens; fundamental changes; asset sales; restricted payments; and transactions with affiliates. The Credit Agreement contains financial covenants regarding maintenance as of the end of each fiscal quarter, commencing with the quarter ending June 30, 2016, of a maximum Leverage Ratio of 3.0 to 1.0 and a minimum Interest Coverage Ratio of 3.0 to 1.0.

Stock-Based Compensation

9 Months Ended

Mar. 31, 2016

Stock-Based Compensation

Stock-Based Compensation

10. Stock-Based Compensation

Stock Compensation Plans and General Award Terms

We have issued stock options and restricted stock units (RSUs) to our employees and outside directors, pursuant to our 2005 Stock Incentive Plan (the 2005 Plan) and our 2010 Equity Incentive Plan (the 2010 Plan). The 2005 Plan was approved by the stockholders on May 26, 2005 and expired on March 31, 2015.

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-Based Compensation Accounting

We recognize stock-based compensation expense on a straight-line basis, net of forfeitures, over the requisite service period for time-vested awards. Our share-based awards are accounted for as equity instruments. Our policy is to issue new shares upon the exercise of stock awards.

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 post-vesting 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.

The weighted average estimated fair value of option awards granted during the three months ended March 31, 2016 and 2015 was $10.47 and $11.55, respectively. The weighted average estimated fair value of option awards granted during the nine months ended March 31, 2016 and 2015 was $13.19 and $13.44, respectively.

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

	Nine Months Ended
	March 31,
	2016		2015
Risk-free interest rate	1.4	%	1.5	%
Expected dividend yield	0.0	%	0.0	%
Expected life (in years)	4.7		4.6
Expected volatility factor	34.1	%	35.0	%

The stock-based compensation expense and its classification in the unaudited consolidated statements of operations for the three and nine months ended March 31, 2016 and 2015 are as follows:

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2016		2015		2016		2015
	(Dollars in Thousands)
Recorded as expenses:
Cost of services and other	$	343	$	336	$	1,049	$	1,014
Selling and marketing	1,797		778		3,547		2,282
Research and development	871		959		2,543		2,923
General and administrative	1,367		1,383		5,174		4,903

Total stock-based compensation	$	4,378	$	3,456	$	12,313	$	11,122

A summary of stock option and RSU activity under all equity plans for the nine months ended March 31, 2016 is as follows:

	Stock Options							Restricted Stock Units
	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in 000’s)		Shares		Weighted Average Grant Date Fair Value
Outstanding at June 30, 2015	1,214,257		$	27.25	7.26	$	22,232	542,432		$	36.13
Granted	424,991		42.71					419,245		41.91
Settled (RSUs)	—							(268,231	)	35.69
Exercised	(136,528	)	20.94					—
Cancelled / Forfeited	(107,778	)	37.18					(111,928	)	36.70

Outstanding at March 31, 2016	1,394,942		$	31.81	7.39	$	10,627	581,518		$	40.39


Vested and exercisable at March 31, 2016	837,968		$	25.92	6.42	$	10,007	—

Vested and expected to vest as of March 31, 2016	1,336,466		$	31.39	7.33	$	10,568	520,439		$	40.33

The weighted average grant-date fair value of RSUs granted during the three months ended March 31, 2016 and 2015 was $31.97 and $35.23, respectively. The weighted average grant-date fair value of RSUs granted during the nine months ended March 31, 2016 and 2015 was $41.91 and $42.64, respectively. During the three months ended March 31, 2016 and 2015, the total fair value of shares vested from RSU grants was $3.6 million and $3.8 million, respectively, and during the nine months ended March 31, 2016 and 2015 was $9.8 million and $11.5 million, respectively.

At March 31, 2016, the total future unrecognized compensation cost related to stock options was $6.2 million and is expected to be recorded over a weighted average period of 2.7 years. At March 31, 2016, the total future unrecognized compensation cost related to RSUs was $20.7 million and is expected to be recorded over a weighted average period of 2.7 years.

The total intrinsic value of options exercised during the three months ended March 31, 2016 and 2015 was $0.3 million and $1.1 million, respectively. The total intrinsic value of options exercised during the nine months ended March 31, 2016 and 2015 was $2.6 million and $4.1 million, respectively. We received $2.9 million and $2.0 million in cash proceeds from option exercises during the nine months ended March 31, 2016 and 2015, respectively. We withheld $3.4 million and $3.9 million for withholding taxes on vested RSUs during the nine months ended March 31, 2016 and 2015, respectively.

At March 31, 2016, common stock reserved for future issuance or settlement under equity compensation plans was 5.5 million shares.

Stockholders' Deficit	9 Months Ended
Stockholders' Deficit	Mar. 31, 2016
Stockholders' Deficit
Stockholders' Deficit	11. Stockholders’ Deficit Stock Repurchases On January 28, 2015, we publicly announced a share repurchase program for up to $450 million worth of our common stock and terminated the previous program that had been approved by the Board of Directors on April 23, 2014. On April 26, 2016, the Board of Directors approved a $400 million increase in the current share repurchase plan. The timing and amount of any shares repurchased are based on market conditions and other factors. All shares of our common stock repurchased have been recorded as treasury stock under the cost method. We repurchased 2,786,246 shares of our common stock for $105.1 million during the nine months ended March 31, 2016. We repurchased 7,731,428 shares of our common stock for $298.3 million during fiscal 2015. As of March 31, 2016, the remaining dollar value under the stock repurchase program approved on January 28, 2015 was $196.3 million, which was subsequently increased by $400 million. Accumulated Other Comprehensive Income As of March 31, 2016, accumulated other comprehensive income was comprised of foreign currency translation adjustments of $4.3 million and net unrealized losses on available for sale securities of less than $0.1 million. As of March 31, 2015, accumulated other comprehensive income was comprised of foreign currency translation adjustments of $5.0 million and net unrealized losses on available for sale securities of less than $0.1 million. As of June 30, 2015, accumulated other comprehensive income was comprised of foreign currency translation adjustments of $6.5 million and net unrealized losses on available for sale securities of less than $0.1 million. As of June 2014, accumulated other comprehensive income was comprised of foreign currency translation adjustments of $9.4 million and net unrealized gains on available for sale securities of less than $0.1 million.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08.(d),(e))
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-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Net Income Per Share

9 Months Ended

Mar. 31, 2016

Net Income Per Share

Net Income Per Share

12. Net Income Per Share

Basic income per share is determined by dividing net income by the weighted average common shares outstanding during the period. Diluted income per share is determined by dividing net income by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and other commitments to be settled in common stock are included in the calculation of diluted net income per share based on the treasury stock method.

The calculations of basic and diluted net income per share and basic and dilutive weighted average shares outstanding for the three and nine months ended March 31, 2016 and 2015 are as follows:

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2016		2015		2016		2015
	(Dollars and Shares in Thousands, Except per Share Data)

Net income	$	33,171	$	28,170	$	106,625	$	87,601


Weighted average shares outstanding	83,081		87,355		83,425		89,509

Dilutive impact from:
Share-based payment awards	292		498		417		612

Dilutive weighted average shares outstanding	83,373		87,853		83,842		90,121


Income per share
Basic	$	0.40	$	0.32	$	1.28	$	0.98
Dilutive	$	0.40	$	0.32	$	1.27	$	0.97

For the three and nine months ended March 31, 2016 and 2015, certain employee equity awards were anti-dilutive based on the treasury stock method. Additionally, during the three and nine months ended March 31, 2016, options to purchase 640,366 shares and 577,105 shares of our common stock were not included in the computation of dilutive weighted average shares outstanding, as of March 31, 2016, because their exercise prices ranged from $34.36 per share to $47.40 per share and were greater than the average market price of our common stock during the periods then ended. These options were outstanding as of March 31, 2016 and expire at various dates through March 28, 2026.

The following employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive as of March 31, 2016 and 2015:

	Three Months Ended		Nine Months Ended
	March 31,		March 31,
	2016	2015	2016	2015
	(Shares in Thousands)

Employee equity awards	1,250	801	1,092	762

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Mar. 31, 2016
Commitments and Contingencies
Commitments and Contingencies	13. Commitments and Contingencies Operating Leases We lease certain facilities under non-cancellable operating leases with terms in excess of one year. Rental expense on leased facilities under operating leases was approximately $2.0 million and $2.2 million during the three months ended March 31, 2016 and 2015 and $6.1 million and $6.0 million during the nine months ended March 31, 2016 and 2015, respectively. 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 to $7.0 million ($9.9 million of base rent net of $2.9 million landlord incentive applied against base rent). 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 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 is $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 amounted to approximately $1.0 million in fiscal 2016. Standby letters of credit for $3.5 million as of March 31, 2016 secure our performance on professional services contracts, certain facility leases and potential liabilities. This is an increase from $2.2 million as of June 30, 2015. The letters of credit expire at various dates through fiscal 2025. Legal Matters In the ordinary course of business, we are, from time to time, involved in lawsuits, claims, investigations, proceedings and threats of litigation. These matters include an April 2004 claim by a customer that certain of our software products and implementation services failed to meet the customer’s expectations. In March 2014, a judgment was issued by the trial court against us in the amount of approximately 1.9 million Euro (“€”) plus interest and a portion of legal fees. We subsequently filed an appeal of that judgment. As of March 2016, the appellate court has modified the judgement of the trial court and determined that we must pay damages in the amount of approximately €1.7 million plus interest, with the possibility of additional damages yet to be determined by the appellate court. While the outcome of the proceedings and claims referenced above cannot be predicted with certainty, there were no such matters, as of March 31, 2016 that, in the opinion of management, are reasonably possible to have a material adverse effect on our financial position, results of operations or cash flows. Liabilities, if applicable, related to the aforementioned matters discussed in this Note have been included in our accrued liabilities at March 31, 2016, and are not material to our financial position for the period then ended. As of March 31, 2016, we do not believe that there is a reasonable possibility of a material loss exceeding the amounts already accrued for the proceedings or matters discussed above. However, the results of litigation (including the above-referenced appeal proceedings) 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.

Segment Information

9 Months Ended

Mar. 31, 2016

Segment Information

Segment Information

14. Segment 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.

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 in the financial statements of our Form 10-K for the year ended June 30, 2015). We do not track assets or capital expenditures by operating segments. Consequently, it is not practical to present assets, capital expenditures, depreciation or amortization by operating segments.

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

	Subscription and software			Services			Total
	(Dollars in Thousands)
Three Months Ended March 31, 2016
Segment revenue	$	111,722		$	7,495		$	119,217
Segment expenses (1)	(46,176		)	(6,754		)	(52,930		)

Segment profit	$	65,546		$	741		$	66,287

Three Months Ended March 31, 2015
Segment revenue	$	102,543		$	8,756		$	111,299
Segment expenses (1)	(48,887		)	(6,905		)	(55,792		)

Segment profit	$	53,656		$	1,851		$	55,507


Nine Months Ended March 31, 2016
Segment revenue	$	333,707		$	24,957		$	358,664
Segment expenses (1)	(132,577		)	(21,405		)	(153,982		)

Segment profit	$	201,130		$	3,552		$	204,682


Nine Months Ended March 31, 2015
Segment revenue	$	300,002		$	26,213		$	326,215
Segment expenses (1)	(135,960		)	(21,142		)	(157,102		)

Segment profit	$	164,042		$	5,071		$	169,113

(1)

Our reportable segments’ operating expenses include expenses directly attributable to the segments. Segment expenses include selling and marketing, research and development, stock-based compensation and certain corporate expenses incurred in support of the segments. Segment expenses do not include allocations of general and administrative; interest income, net; and other income (expense), net.

Reconciliation to Income before Income Taxes

The following table presents a reconciliation of total segment profit to income before income taxes for the three and nine months ended March 31, 2016 and 2015:

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2016			2015			2016			2015
	(Dollars in Thousands)

Total segment profit for reportable segments	$	66,287		$	55,507		$	204,682		$	169,113
General and administrative	(15,606		)	(13,776		)	(42,273		)	(36,227		)
Other income (expense), net	(2,686		)	414			(1,947		)	354
Interest income (net)	(240		)	121			(101		)	381

Income before income taxes	$	47,755		$	42,266		$	160,361		$	133,621

- 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
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+ Details

Significant Accounting Policies (Policies)

9 Months Ended

Mar. 31, 2016

Significant Accounting Policies

Principles of Consolidation

(a)Principles of Consolidation

Revenue Recognition

(b)Revenue Recognition

Transition to the aspenONE Licensing Model

In fiscal 2010, we introduced the following changes to our licensing model:

(i)

(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

Services and Other Revenue

Professional Services Revenue

Training Revenue

Deferred Revenue

Other Licensing Matters

Loss Contingencies

Foreign Currency Transactions

(d)Foreign Currency Transactions

Recently Issued Accounting Pronouncements

(e)Recently Issued 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.

- Definition

Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.

+ References + Details

Marketable Securities (Tables)

9 Months Ended

Mar. 31, 2016

Marketable Securities

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)
March 31, 2016:
U.S. corporate bonds	$	9,025	$	9,026	$	1	$	(2	)

Total short-term marketable securities	$	9,025	$	9,026	$	1	$	(2	)


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	)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

Goodwill (Tables)

9 Months Ended

Mar. 31, 2016

Goodwill

Changes in carrying amount of goodwill by reporting unit

	Amount
	(Dollars in Thousands)
Balance as of June 30, 2014:
Goodwill	$	84,845
Accumulated impairment losses	(65,569		)

	$	19,276


Effect of currency translation	(1,916		)


Balance as of June 30, 2015:
Goodwill	$	82,929
Accumulated impairment losses	(65,569		)

	$	17,360


Effect of currency translation	(579		)


Balance as of March 31, 2016:
Goodwill	$	82,350
Accumulated impairment losses	(65,569		)

	$	16,781

Supplementary Balance Sheet Information (Tables)

9 Months Ended

Mar. 31, 2016

Supplementary Balance Sheet Information

Schedule of accounts receivable, net allowance for doubtful accounts

	Gross		Allowance		Net
	(Dollars in Thousands)
March 31, 2016:
Accounts receivable	$	23,918	$	2,169	$	21,749

	$	23,918	$	2,169	$	21,749


June 30, 2015:
Accounts receivable	$	32,357	$	1,636	$	30,721

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

Schedule of property, equipment and leasehold improvements

	March 31, 2016			June 30, 2015
	(Dollars in Thousands)
Property, equipment and leasehold improvements - at cost:
Computer equipment	$	10,272		$	11,614
Purchased software	23,154			23,338
Furniture & fixtures	6,735			6,653
Leasehold improvements	12,202			12,225
Accumulated depreciation	(36,425		)	(35,791		)

Property, equipment and leasehold improvements - net	$	15,938		$	18,039

Schedule of accrued expenses and other current liabilities

	March 31, 2016		June 30, 2015
	(Dollars in Thousands)

Royalties and outside commissions	$	3,000	$	2,879
Payroll and payroll-related	13,264		18,965
Other	18,363		16,639

Total accrued expenses and other current liabilities	$	34,627	$	38,483

Schedule of other non-current liabilities

	March 31, 2016		June 30, 2015
	(Dollars in Thousands)

Deferred rent	$	6,177	$	5,273
Other (1)	21,874		24,249

Total other non-current liabilities	$	28,051	$	29,522

(1)

Other was comprised primarily of our reserve for uncertain tax positions of $20.0 million and $22.6 million as of March 31, 2016 and June 30, 2015, respectively.

Stock-Based Compensation (Tables)

9 Months Ended

Mar. 31, 2016

Stock-Based Compensation

Schedule of weighted average assumptions

	Nine Months Ended
	March 31,
	2016		2015
Risk-free interest rate	1.4	%	1.5	%
Expected dividend yield	0.0	%	0.0	%
Expected life (in years)	4.7		4.6
Expected volatility factor	34.1	%	35.0	%

Schedule of stock-based compensation expense

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2016		2015		2016		2015
	(Dollars in Thousands)
Recorded as expenses:
Cost of services and other	$	343	$	336	$	1,049	$	1,014
Selling and marketing	1,797		778		3,547		2,282
Research and development	871		959		2,543		2,923
General and administrative	1,367		1,383		5,174		4,903

Total stock-based compensation	$	4,378	$	3,456	$	12,313	$	11,122

Schedule of stock option 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, 2015	1,214,257		$	27.25	7.26	$	22,232	542,432		$	36.13
Granted	424,991		42.71					419,245		41.91
Settled (RSUs)	—							(268,231	)	35.69
Exercised	(136,528	)	20.94					—
Cancelled / Forfeited	(107,778	)	37.18					(111,928	)	36.70

Outstanding at March 31, 2016	1,394,942		$	31.81	7.39	$	10,627	581,518		$	40.39


Vested and exercisable at March 31, 2016	837,968		$	25.92	6.42	$	10,007	—

Vested and expected to vest as of March 31, 2016	1,336,466		$	31.39	7.33	$	10,568	520,439		$	40.33

Net Income Per Share (Tables)

9 Months Ended

Mar. 31, 2016

Net Income Per Share

Schedule of calculations of basic and diluted net income per share and basic and dilutive weighted average shares outstanding

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2016		2015		2016		2015
	(Dollars and Shares in Thousands, Except per Share Data)

Net income	$	33,171	$	28,170	$	106,625	$	87,601


Weighted average shares outstanding	83,081		87,355		83,425		89,509

Dilutive impact from:
Share-based payment awards	292		498		417		612

Dilutive weighted average shares outstanding	83,373		87,853		83,842		90,121


Income per share
Basic	$	0.40	$	0.32	$	1.28	$	0.98
Dilutive	$	0.40	$	0.32	$	1.27	$	0.97

Schedule of employee equity awards excluded from the calculation of dilutive weighted average shares outstanding

	Three Months Ended		Nine Months Ended
	March 31,		March 31,
	2016	2015	2016	2015
	(Shares in Thousands)

Employee equity awards	1,250	801	1,092	762

Segment Information (Tables)

9 Months Ended

Mar. 31, 2016

Segment Information

Summary of reportable segments' profits

	Subscription and software			Services			Total
	(Dollars in Thousands)
Three Months Ended March 31, 2016
Segment revenue	$	111,722		$	7,495		$	119,217
Segment expenses (1)	(46,176		)	(6,754		)	(52,930		)

Segment profit	$	65,546		$	741		$	66,287

Three Months Ended March 31, 2015
Segment revenue	$	102,543		$	8,756		$	111,299
Segment expenses (1)	(48,887		)	(6,905		)	(55,792		)

Segment profit	$	53,656		$	1,851		$	55,507


Nine Months Ended March 31, 2016
Segment revenue	$	333,707		$	24,957		$	358,664
Segment expenses (1)	(132,577		)	(21,405		)	(153,982		)

Segment profit	$	201,130		$	3,552		$	204,682


Nine Months Ended March 31, 2015
Segment revenue	$	300,002		$	26,213		$	326,215
Segment expenses (1)	(135,960		)	(21,142		)	(157,102		)

Segment profit	$	164,042		$	5,071		$	169,113

(1)

Schedule of reconciliation of total segment operating profit to income before income taxes

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2016			2015			2016			2015
	(Dollars in Thousands)

Total segment profit for reportable segments	$	66,287		$	55,507		$	204,682		$	169,113
General and administrative	(15,606		)	(13,776		)	(42,273		)	(36,227		)
Other income (expense), net	(2,686		)	414			(1,947		)	354
Interest income (net)	(240		)	121			(101		)	381

Income before income taxes	$	47,755		$	42,266		$	160,361		$	133,621

Significant Accounting Policies - Revenue Recognition and Other Licensing Matters (Details) $ in Millions	9 Months Ended
	Mar. 31, 2016 USD ($) claim	Jun. 30, 2015 claim
Revenue Recognition
Period over which customers typically received SMS	1 year
Concessions given on contract modification to an existing term arrangement \| $	$ 0.0
Other Licensing Matters
Number of claims outstanding \| claim	0	0

Significant Accounting Policies - Foreign Currency Transactions (Details) - Other income (expense), net - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Foreign Currency Transactions
Foreign currency transaction and remeasurement gains (losses)	$ (2.7)	$ 0.4	$ (2.0)	$ 0.4
KBC
Foreign Currency Transactions
Foreign currency transaction and remeasurement gains (losses)	$ (3.4)		$ (3.4)

Marketable Securities - Fair Value, Amortized Cost and Unrealized Holding Gains (Losses) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Short-term marketable securities
Marketable Securities
Fair Value	$ 9,025	$ 59,197
Cost	9,026	59,223
Unrealized Gains	1	8
Unrealized Losses	(2)	(34)
Long-term marketable securities
Marketable Securities
Fair Value		3,047
Cost		3,055
Unrealized Gains		0
Unrealized Losses		(8)
U.S. corporate bonds \| Short-term marketable securities
Marketable Securities
Fair Value	9,025	59,197
Cost	9,026	59,223
Unrealized Gains	1	8
Unrealized Losses	$ (2)	(34)
U.S. corporate bonds \| Long-term marketable securities
Marketable Securities
Fair Value		3,047
Cost		3,055
Unrealized Gains		0
Unrealized Losses		$ (8)

Marketable Securities - Other-than-temporary Impairment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Other-than-temporary Impairment
Impairment losses	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Acquisition Bid (Details) £ / shares in Units, $ in Thousands, £ in Millions				3 Months Ended		9 Months Ended
	Apr. 08, 2016 USD ($)	Feb. 26, 2016 USD ($)	Jan. 12, 2016 USD ($)	Mar. 31, 2016 USD ($)	Mar. 31, 2015 USD ($)	Mar. 31, 2016 USD ($)	Mar. 31, 2015 USD ($)	Feb. 17, 2016 £ / shares	Jan. 12, 2016 GBP (£) £ / shares	Jan. 12, 2016 USD ($)	Jun. 30, 2015 USD ($)
Acquisition Bid
Amount outstanding				$ 140,000		$ 140,000					$ 0
Other income (expense), net
Acquisition Bid
Foreign currency exchange gains (losses)				(2,700)	$ 400	(2,000)	$ 400
KBC
Acquisition Bid
Proposed transaction value, per share (in GBP per share) \| £ / shares									£ 1.85
Proposed transaction value \| £									£ 158
Proposed transaction value, funded by cash on hand										$ 91,000
Amount placed in escrow, cash funding portion			$ 91,000
Amount placed in escrow, foreign exchange fluctuations			23,100
Amount placed in escrow, costs that may become payable under the Bridge Credit Agreement			$ 800
Amount returned from escrow account	$ 251,700
KBC \| Other income (expense), net
Acquisition Bid
Foreign currency exchange gains (losses)				(3,400)		(3,400)
KBC \| General and administrative
Acquisition Bid
Acquisition Bid and Bridge Credit Agreement costs				4,200		5,200
KBC \| Yokogawa
Acquisition Bid
Proposed transaction value, per share (in GBP per share) \| £ / shares								£ 2.10
Bridge Loan \| Bridge Credit Agreement
Acquisition Bid
Principal amount										$ 140,000
Debt amount canceled		$ 140,000
Line of Credit \| Credit Agreement
Acquisition Bid
Principal amount		250,000
Amount outstanding		$ 140,000		$ 140,000		$ 140,000

Goodwill - Goodwill, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2014
Goodwill:
Goodwill, net, total	$ 16,781	$ 17,360
Subscription and software
Goodwill:
Goodwill	82,350	82,929	$ 84,845
Accumulated impairment losses	(65,569)	(65,569)	(65,569)
Goodwill, net, total	$ 16,781	$ 17,360	$ 19,276

Goodwill - Goodwill Roll Forward (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2016	Jun. 30, 2015
Goodwill:
Goodwill, net, beginning balance	$ 17,360
Goodwill, net, ending balance	16,781	$ 17,360
Subscription and software
Goodwill:
Goodwill, net, beginning balance	17,360	19,276
Effect of currency translation	(579)	(1,916)
Goodwill, net, ending balance	$ 16,781	$ 17,360

Goodwill - Impairment Loss (Details) $ in Thousands	3 Months Ended	9 Months Ended
Goodwill - Impairment Loss (Details) $ in Thousands	Mar. 31, 2016 USD ($) item	Mar. 31, 2016 USD ($) item
Goodwill:
Impairment loss recognized \| $	$ 0	$ 0
Number of triggering events indicating goodwill impairment occurred \| item	0	0

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income Taxes
Effective income tax rate	30.60%	33.40%	33.50%	34.40%
Excess tax benefits from stock-based compensation			$ 1,878	$ 21,843

Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015
Level 1 Inputs
Fair Value
Cash equivalents	$ 39.0	$ 130.2
Level 2 Inputs \| U.S. corporate bonds
Fair Value
Marketable securities	$ 9.0	$ 62.2

Supplementary Balance Sheet Information - Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Accounts Receivable
Account receivable, Gross	$ 23,918	$ 32,357
Account receivable, Allowance	2,169	1,636
Account receivable, Net	$ 21,749	$ 30,721

Supplementary Balance Sheet Information - Property, Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Property, equipment and leasehold improvements
Accumulated depreciation	$ (36,425)	$ (35,791)
Property, equipment and leasehold improvements-net	15,938	18,039
Computer equipment
Property, equipment and leasehold improvements
Property, equipment and leasehold improvements-at cost	10,272	11,614
Purchased software
Property, equipment and leasehold improvements
Property, equipment and leasehold improvements-at cost	23,154	23,338
Furniture & fixtures
Property, equipment and leasehold improvements
Property, equipment and leasehold improvements-at cost	6,735	6,653
Leasehold improvements
Property, equipment and leasehold improvements
Property, equipment and leasehold improvements-at cost	$ 12,202	$ 12,225

Supplementary Balance Sheet Information - Property, Equipment and Leasehold Improvements - Write-offs (Details) $ in Millions	9 Months Ended
	Mar. 31, 2016 USD ($)
Supplementary Balance Sheet Information
Fully depreciated property, equipment and leasehold improvements written-off, gross book value	$ 2.9
Fully depreciated property, equipment and leasehold improvements written-off, accumulated depreciation	$ 2.9

Supplementary Balance Sheet Information - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Accrued expenses and other current liabilities
Royalties and outside commissions	$ 3,000	$ 2,879
Payroll and payroll-related	13,264	18,965
Other	18,363	16,639
Total accrued expenses and other current liabilities	$ 34,627	$ 38,483

Supplementary Balance Sheet Information - Other Non-current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Other non-current liabilities
Deferred rent	$ 6,177	$ 5,273
Other	21,874	24,249
Total other non-current liabilities	$ 28,051	$ 29,522

Supplementary Balance Sheet Information - Reserve for Uncertain Tax Positions (Details) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015
Reserve for uncertain tax positions
Reserve for uncertain tax positions	$ 20.0	$ 22.6

Credit Agreement (Details) $ in Thousands	Feb. 26, 2016 USD ($)	Mar. 31, 2016 USD ($)	Jun. 30, 2015 USD ($)
Credit Agreement
Amount outstanding		$ 140,000	$ 0
Line of Credit \| Credit Agreement
Credit Agreement
Principal amount	$ 250,000
Amount outstanding	$ 140,000	$ 140,000
Margin rate (as a percent)	0.50%
Maximum leverage ratio	3.0
Minimum interest coverage ratio	3.0
Line of Credit \| Credit Agreement \| Minimum
Credit Agreement
Commitment fee percentage (as a percent)	0.20%
Line of Credit \| Credit Agreement \| Maximum
Credit Agreement
Commitment fee percentage (as a percent)	0.30%
Line of Credit \| Credit Agreement \| Federal Funds Effective Rate
Credit Agreement
Variable rate spread (as a percent)	0.50%
Line of Credit \| Credit Agreement \| Adjusted LIBOR
Credit Agreement
Variable rate spread (as a percent)	1.00%
Margin rate (as a percent)	1.50%

Stock-Based Compensation - Stock Compensation Plans and General Award Terms (Details)	9 Months Ended
	Mar. 31, 2016
Stock Options
Stock Compensation Plans and General Award Terms
Award vesting period	4 years
Stock Options \| Minimum
Stock Compensation Plans and General Award Terms
Expiration period	7 years
Stock Options \| Maximum
Stock Compensation Plans and General Award Terms
Expiration period	10 years
Restricted Stock Units
Stock Compensation Plans and General Award Terms
Award vesting period	4 years

Stock-Based Compensation - Stock-Based Compensation Accounting (Details) - Stock Options - $ / shares	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Stock-Based Compensation Accounting
Weighted average fair value (in dollars per share)	$ 10.47	$ 11.55	$ 13.19	$ 13.44
Risk-free interest rate (as a percent)			1.40%	1.50%
Expected dividend yield (as a percent)			0.00%	0.00%
Expected life (in years)			4 years 8 months 12 days	4 years 7 months 6 days
Expected volatility factor (as a percent)			34.10%	35.00%

Stock-Based Compensation - Stock-Based Compensation Expense and its Classification in the Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Recorded as expenses:
Total stock-based compensation	$ 4,378	$ 3,456	$ 12,313	$ 11,122
Cost of services and other
Recorded as expenses:
Total stock-based compensation	343	336	1,049	1,014
Selling and marketing
Recorded as expenses:
Total stock-based compensation	1,797	778	3,547	2,282
Research and development
Recorded as expenses:
Total stock-based compensation	871	959	2,543	2,923
General and administrative
Recorded as expenses:
Total stock-based compensation	$ 1,367	$ 1,383	$ 5,174	$ 4,903

Stock-Based Compensation - Stock Option Activity (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2016	Jun. 30, 2015
Stock options activity
Outstanding, beginning of period (in shares)	1,214,257
Granted (in shares)	424,991
Exercised (in shares)	(136,528)
Cancelled / Forfeited (in shares)	(107,778)
Outstanding, end of period (in shares)	1,394,942	1,214,257
Vested and exercisable, end of period (in shares)	837,968
Vested and expected to vest, end of period (in shares)	1,336,466
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 27.25
Granted (in dollars per share)	42.71
Exercised (in dollars per share)	20.94
Cancelled / Forfeited (in dollars per share)	37.18
Outstanding, end of period (in dollars per share)	31.81	$ 27.25
Vested and exercisable, end of period (in dollars per share)	25.92
Vested and expected to vest, end of period (in dollars per share)	$ 31.39
Weighted Average Remaining Contractual Term
Outstanding, end of period	7 years 4 months 21 days	7 years 3 months 4 days
Vested and exercisable, end of period	6 years 5 months 1 day
Vested and expected to vest, end of period	7 years 3 months 29 days
Aggregate Intrinsic Value
Outstanding, end of period	$ 10,627	$ 22,232
Vested and exercisable, end of period	10,007
Vested and expected to vest, end of period	$ 10,568

Stock-Based Compensation - RSU Activity (Details) - Restricted Stock Units - $ / shares	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Restricted stock units activity
Outstanding, beginning of period (in shares)			542,432
Granted (in shares)			419,245
Settled (in shares)			(268,231)
Cancelled / Forfeited (in shares)			(111,928)
Outstanding, end of period (in shares)	581,518		581,518
Vested and expected to vest (in shares)	520,439		520,439
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share)			$ 36.13
Granted (in dollars per share)	$ 31.97	$ 35.23	41.91	$ 42.64
Settled (RSUs) (in dollars per share)			35.69
Cancelled / Forfeited (in dollars per share)			36.70
Outstanding, end of period (in dollars per share)	40.39		40.39
Vested and expected to vest, end of period (in dollars per share)	$ 40.33		$ 40.33

Stock-Based Compensation - Additional Disclosures (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Restricted Stock Units
Stock-based compensation, additional disclosures
Weighted average grant-date fair value of RSUs granted	$ 31.97	$ 35.23	$ 41.91	$ 42.64
Total fair value of shares vested from RSU grants	$ 3.6	$ 3.8	$ 9.8	$ 11.5
Total unrecognized compensation cost	20.7		$ 20.7
Total unrecognized compensation cost, period of recognition			2 years 8 months 12 days
Excess tax benefits from stock-based compensation			$ 3.4	3.9
Stock Options
Stock-based compensation, additional disclosures
Total unrecognized compensation cost	6.2		$ 6.2
Total unrecognized compensation cost, period of recognition			2 years 8 months 12 days
Total intrinsic value of options exercised	$ 0.3	$ 1.1	$ 2.6	4.1
Cash proceeds from option exercises			$ 2.9	$ 2.0
2010 Plan
Stock-based compensation, additional disclosures
Common stock reserved for future issuance or settlement (in shares)	5.5		5.5

Stockholders' Deficit - Stock Repurchase Program (Details) - USD ($) $ in Millions		9 Months Ended	12 Months Ended
	Apr. 26, 2016	Mar. 31, 2016	Jun. 30, 2015	Jan. 28, 2015
Stockholders' Deficit
Approved stock repurchase program, authorized amount				$ 450.0
Remaining capacity under the stock repurchase program		$ 196.3
Approved increase	$ 400.0
Repurchase of common stock (in shares)		2,786,246	7,731,428
Repurchase of common stock, amount		$ 105.1	$ 298.3

Stockholders' Deficit - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income
Foreign translation adjustments	$ 4.3	$ 6.5	$ 5.0	$ 9.4
Maximum
Accumulated Other Comprehensive Income
Net unrealized gains (losses) on available for sale securities	$ (0.1)	$ (0.1)	$ (0.1)	$ 0.1

Net Income Per Share - Calculations of Basic and Diluted Net Income per Share and Basic and Dilutive Weighted Average Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Net Income Per Share
Net income	$ 33,171	$ 28,170	$ 106,625	$ 87,601
Weighted average shares outstanding (in shares)	83,081	87,355	83,425	89,509
Dilutive impact from:
Share-based payment awards (in shares)	292	498	417	612
Dilutive weighted average shares outstanding (in shares)	83,373	87,853	83,842	90,121
Income per share
Basic (in dollars per share)	$ 0.40	$ 0.32	$ 1.28	$ 0.98
Dilutive (in dollars per share)	$ 0.40	$ 0.32	$ 1.27	$ 0.97

- 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

Net Income Per Share - Stock Options Excluded from the Computation of Dilutive Weighted Average Shares Outstanding (Details) - $ / shares	3 Months Ended	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2016
Stock Options
Employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive
Options to purchase shares of common stock (in shares)	640,366	577,105
Stock Options
Employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive
Exercise price range, low end of range (in dollars per share)	$ 34.36	$ 34.36
Exercise price range, high end of range (in dollars per share)	$ 47.40	$ 47.40

Net Income Per Share - Employee Equity Awards Excluded from the Calculation of Dilutive Weighted Average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Employee Equity Awards
Employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive
Employee equity awards (in shares)	1,250	801	1,092	762

Commitments and Contingencies - Rental Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Operating Leases
Rent expense	$ 2.0	$ 2.2	$ 6.1	$ 6.0
Minimum
Operating Leases
Operating lease terms			1 year

Commitments and Contingencies - Houston, Texas Lease (Details) - Office location in Houston, Texas - USD ($) $ in Millions	Aug. 31, 2015	Jul. 31, 2015
Operating Leases
Future minimum non-cancelable lease payments	$ 7.0	$ 1.8
Future minimum non-cancelable lease payments including landlord incentive	9.9
Landlord incentive	2.9
Minimum
Operating Leases
Base annual rent	1.3
Maximum
Operating Leases
Base annual rent	$ 1.5

Commitments and Contingencies - Singapore Lease (Details) - Office location in Singapore $ in Millions	1 Months Ended
	Dec. 31, 2015 USD ($) ft²	Mar. 31, 2016 USD ($)
Operating Leases
Initial term of lease	60 months
Area of office space (in square feet) \| ft²	11,343
Base annual rent	$ 0.6
Extension period of lease term	36 months
Future minimum non-cancelable lease payments	$ 3.1
Capital expenditures
Operating Leases
Aggregate amount of capital expenditures with respect to the leased premises in fiscal 2016		$ 1.0

Commitments and Contingencies - Standby Letters of Credit (Details) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015
Standby Letter of Credit
Operating Leases
Standby letters of credit	$ 3.5	$ 2.2

Commitments and Contingencies - Legal Matters (Details) € in Millions	1 Months Ended
	Mar. 31, 2014 EUR (€)	Mar. 31, 2016 EUR (€) claim
Legal Matters
Matters that might have a material adverse effect on financial position, results of operations or cash flows \| claim		0
Customer claim
Legal Matters
Judgment issued	€ 1.9
Damages, plus interest, with the possibility of additional damages to be determined		€ 1.7

Segment Information - Summary of Reportable Segments' Profits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Summary of reportable segments' profits
Segment revenue	$ 119,217	$ 111,299	$ 358,664	$ 326,215
Segment profit	50,681	41,731	162,409	132,886
Operating segments
Summary of reportable segments' profits
Segment expenses	(52,930)	(55,792)	(153,982)	(157,102)
Segment profit	66,287	55,507	204,682	169,113
Subscription and software
Summary of reportable segments' profits
Segment revenue	111,722	102,543	333,707	300,002
Subscription and software \| Operating segments
Summary of reportable segments' profits
Segment expenses	(46,176)	(48,887)	(132,577)	(135,960)
Segment profit	65,546	53,656	201,130	164,042
Services
Summary of reportable segments' profits
Segment revenue	7,495	8,756	24,957	26,213
Services \| Operating segments
Summary of reportable segments' profits
Segment expenses	(6,754)	(6,905)	(21,405)	(21,142)
Segment profit	$ 741	$ 1,851	$ 3,552	$ 5,071

Segment Information - Reconciliation of Total Segment Profit to Income before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Reconciliation to Income before Income Taxes
Total segment profit for reportable segments	$ 50,681	$ 41,731	$ 162,409	$ 132,886
General and administrative	(15,606)	(13,776)	(42,273)	(36,227)
Other income (expense), net	(2,686)	414	(1,947)	354
Interest income (net)	(240)	121	(101)	381
Income before provision for income taxes	47,755	42,266	160,361	133,621
Operating segments
Reconciliation to Income before Income Taxes
Total segment profit for reportable segments	$ 66,287	$ 55,507	$ 204,682	$ 169,113