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, 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 June 30, 2015 and June 30, 2014.



in thousands
June 30,	2015				2014
	Carrying Amount		Fair value		Carrying Amount		Fair value

Financial assets:
Cash	$	20,927	$	20,927	$	13,193	$	13,193
Receivables, advances receivables and secured loans	79,341		79,341		80,640		80,640
Derivative assets - open sale and purchase commitments, net, included in receivable	1,722		1,722		22,170		22,170
Derivative assets - futures contracts included in receivables	5,363		5,363		—		—
Derivative assets - forward contracts included in receivables	4,279		4,279		14		14
Income taxes receivable from Former Parent	1,095		1,095		3,139		3,139
Financial liabilities:
Lines of credit	$	147,000	$	147,000	$	135,200	$	135,200
Liability for borrowed metals	9,500		9,500		8,709		8,709
Product financing obligation	39,425		39,425		24,610		24,610
Derivative liabilities - open sale and purchase commitments, net, included in payables	10,989		10,989		848		848
Derivative liabilities - futures contracts included in payables	—		—		8,078		8,078
Derivative liabilities - forward contracts included in payables	—		—		14,873		14,873
Accounts payable, margin accounts, advances and other payables	57,547		57,547		53,627		53,627
Accrued liabilities	5,330		5,330		6,070		6,070

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, 2015 and June 30, 2014 aggregated by the level in the fair value hierarchy within which the measurements fall:



	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 Balance
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
Liability on margin accounts	6,908		—		—		6,908
Derivative liabilities — open sales and purchase commitments, net	10,989		—		—		10,989
Total liabilities, valued at fair value	$	66,822	$	—	$	—	$	66,822

____________________

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



	June 30, 2014
	Quoted Price in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Instruments		Inputs		Inputs
in thousands	(Level 1)		(Level 2)		(Level 3)		Total Balance
Assets:
Inventory ⁽¹⁾	$	172,990	$	—	$	—	$	172,990
Derivative assets — open sale and purchase commitments, net	22,170		—		—		22,170
Derivative assets — forward contracts	14		—		—		14
Total assets, valued at fair value	$	195,174	$	—	$	—	$	195,174
Liabilities:
Liability on borrowed metals	$	8,709	$	—	$	—	$	8,709
Product financing arrangement	24,610		—		—		24,610
Liability on margin accounts	8,983		—		—		8,983
Derivative liabilities — open sale and purchase commitments, net	848		—		—		848
Derivative liabilities — futures contracts	8,078		—		—		8,078
Derivative liabilities — forward contracts	14,873		—		—		14,873
Total liabilities valued at fair value	$	66,101	$	—	$	—	$	66,101