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

Annual report pursuant to Section 13 and 15(d)

Assets and Liabilities, at Fair Value (Tables)

Assets and Liabilities, at Fair Value (Tables)

12 Months Ended

Jun. 30, 2016

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 June 30, 2016 and June 30, 2015.



in thousands
	June 30, 2016				June 30, 2015
	Carrying Amount		Fair value		Carrying Amount		Fair value

Financial assets:
Cash	$	17,142	$	17,142	$	20,927	$	20,927
Receivables, net	43,302		43,302		30,025		30,025
Secured loans	70,504		70,504		49,316		49,316
Derivative assets - open sale and purchase commitments, net	32,347		32,347		1,722		1,722
Derivative assets - futures contracts	—		—		5,363		5,363
Derivative assets - forward contracts	1,385		1,385		4,279		4,279
Income tax receivables	7,318		7,318		7,846		7,846
Income taxes receivable from Former Parent	203		203		1,095		1,095
Financial liabilities:
Lines of credit	$	212,000	$	212,000	$	147,000	$	147,000
Liability on borrowed metals	4,352		4,352		9,500		9,500
Product financing arrangement	59,358		59,358		39,425		39,425
Derivative liabilities - liability on margin accounts	8,182		8,182		6,908		6,908
Derivative liabilities - open sale and purchase commitments, net	1,919		1,919		10,989		10,989
Derivative liabilities - futures contracts	13,914		13,914		—		—
Derivative liabilities - forward contracts	12,439		12,439		—		—
Accounts payable, advances and other payables	46,769		46,769		50,639		50,639
Accrued liabilities	7,660		7,660		5,330		5,330

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 June 30, 2016 and June 30, 2015 aggregated by the level in the fair value hierarchy within which the measurements fall:



	June 30, 2016
	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⁾	$	245,041	$	—	$	—	$	245,041
Derivative assets — open sale and purchase commitments, net	32,347		—		—		32,347
Derivative assets — forward contracts	1,385		—		—		1,385
Total assets, valued at fair value	$	278,773	$	—	$	—	$	278,773
Liabilities:
Liability on borrowed metals	$	4,352	$	—	$	—	$	4,352
Product financing arrangement	59,358		—		—		59,358
Derivative liabilities — liability on margin accounts	8,182		—		—		8,182
Derivative liabilities — open sales and purchase commitments, net	1,919		—		—		1,919
Derivative liabilities — future contracts	13,914		—		—		13,914
Derivative liabilities — forward contracts	12,439		—		—		12,439
Total liabilities, valued at fair value	$	100,164	$	—	$	—	$	100,164

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⁽¹⁾ Commemorative coin inventory totaling $16,000 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.