Quarterly report pursuant to Section 13 or 15(d)

Long-Term Investments (Tables)

v3.22.0.1
Long-Term Investments (Tables)
 6 Months Ended
Dec. 31, 2021
Long-term Investments [Abstract]  
Schedule of Carrying Value and Ownership Percentage of Investment

The following table shows the carrying value and ownership percentage of the Company's investment in each entity:

 

 

 

December 31, 2021

 

 

June 30, 2021

 

Investee (1)(2)

 

Carrying
Value

 

 

Ownership
Percentage

 

 

Carrying
Value

 

 

Ownership
Percentage

 

 

 

(in thousands)

 

 

 

 

 

(in thousands)

 

 

 

 

Company A

 

$

4,494

 

 

 

7.4

%

 

$

3,795

 

 

 

7.4

%

Company C (3)

 

 

12,570

 

 

 

49.0

%

 

 

1,940

 

 

 

10.0

%

Company D

 

 

11,607

 

 

 

44.9

%

 

 

10,499

 

 

 

44.9

%

Company E

 

 

233

 

 

 

33.3

%

 

 

233

 

 

 

33.3

%

Company F

 

 

2,000

 

 

 

50.0

%

 

 

2,000

 

 

 

50.0

%

 

 

$

30,904

 

 

 

 

 

$

18,467

 

 

 

 

 

(1)
JMB was previously reported as Company B. In March 2021, we acquired the remaining ownership interest in JMB that we did not previously own and consequently consolidated JMB as a wholly-owned subsidiary.
(2)
With the exception of Company E, which is accounted for using the cost method, the Company has the ability to exercise significant influence but not control over the operating and financial decisions of its investees, and is accounted for using the equity method.
(3)
On August 27, 2021, the Company increased its ownership interest in Company C from 10% to 49%, for a purchase price of $9.75 million, consisting of $6.75 million in cash and 61,590 shares of the Company’s common stock. The Company acquired its initial minority investment in January 2019.