A-Mark Precious Metals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Assets and Liabilities, at Fair Value (Tables)

Assets and Liabilities, at Fair Value (Tables)

6 Months Ended

Dec. 31, 2015

Schedule of financial instruments not required to be carried at fair value

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments as of December 31, 2015 and June 30, 2015.



in thousands
	December 31, 2015				June 30, 2015
	Carrying Amount		Fair value		Carrying Amount		Fair value

Financial assets:
Cash	$	3,375	$	3,375	$	20,927	$	20,927
Receivables and advances, net	22,557		22,557		30,025		30,025
Secured loans	57,708		57,708		49,316		49,316
Derivative assets - open sale and purchase commitments, net	2,779		2,779		1,722		1,722
Derivative assets - futures contracts	11,411		11,411		5,363		5,363
Derivative assets - forward contracts	2,933		2,933		4,279		4,279
Income taxes receivable from Former Parent	—		—		1,095		1,095
Financial liabilities:
Lines of credit	$	162,500	$	162,500	$	147,000	$	147,000
Liability on borrowed metals	4,234		4,234		9,500		9,500
Product financing arrangements	50,504		50,504		39,425		39,425
Derivative liabilities - liability on margin accounts	6,329		6,329		6,908		6,908
Derivative liabilities - open sale and purchase commitments, net	13,601		13,601		10,989		10,989
Accounts payable, advances and other payables	56,059		56,059		50,639		50,639
Accrued liabilities	5,593		5,593		5,330		5,330
Income taxes payable to Former Parent	510		510		—		—

Schedule of fair value, assets and liabilities measured on recurring basis

The following tables present information about the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 and June 30, 2015 aggregated by the level in the fair value hierarchy within which the measurements fall:



	December 31, 2015
	Quoted Price in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Instruments		Inputs		Inputs
in thousands	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Inventory ⁽¹⁾	$	239,703	$	—	$	—	$	239,703
Derivative assets — open sale and purchase commitments, net	2,779		—		—		2,779
Derivative assets — futures contracts	11,411		—		—		11,411
Derivative assets — forward contracts	2,933		—		—		2,933
Total assets valued at fair value	$	256,826	$	—	$	—	$	256,826
Liabilities:
Liability on borrowed metals	$	4,234	$	—	$	—	$	4,234
Product financing arrangement	50,504		—		—		50,504
Derivative liabilities — liability on margin accounts	6,329		—		—		6,329
Derivative liabilities — open sales and purchase commitments, net	13,601		—		—		13,601
Total liabilities, valued at fair value	$	74,668	$	—	$	—	$	74,668

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⁽¹⁾ Commemorative coin inventory totaling $0.1 million is held at lower of cost or market and is thus excluded from this table.



	June 30, 2015
	Quoted Price in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Instruments		Inputs		Inputs
in thousands	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Inventory ⁽¹⁾	$	189,983	$	—	$	—	$	189,983
Derivative assets — open sale and purchase commitments, net	1,722		—		—		1,722
Derivative assets — futures contracts	5,363		—		—		5,363
Derivative assets — forward contracts	4,279		—		—		4,279
Total assets, valued at fair value	$	201,347	$	—	$	—	$	201,347
Liabilities:
Liability on borrowed metals	$	9,500	$	—	$	—	$	9,500
Product financing arrangement	39,425		—		—		39,425
Derivative liabilities — liability on margin accounts	6,908		—		—		6,908
Derivative liabilities — open sale and purchase commitments, net	10,989		—		—		10,989
Total liabilities, valued at fair value	$	66,822	$	—	$	—	$	66,822

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⁽¹⁾ Commemorative coin inventory totaling $1.5 million is held at lower of cost or market and is thus excluded from this table.