| Goodwill
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, | Six Months Ended September 30, | |||||||
2015 | 2015 | |||||||
Net sales | $ | 21,368 | $ | 44,002 | ||||
Cost of goods sold | 7,874 | 16,712 | ||||||
Gross profit | 13,494 | 27,290 | ||||||
Operating expenses: | ||||||||
Marketing and selling | 11,044 | 22,675 | ||||||
Research and development | 6,005 | 11,668 | ||||||
General and administrative | 1,777 | 3,469 | ||||||
Restructuring charges, net | 5,550 | 7,007 | ||||||
Total operating expenses | 24,376 | 44,819 | ||||||
Operating loss from discontinued operations | (10,882 | ) | (17,529 | ) | ||||
Interest expense and other expense, net | (40 | ) | (133 | ) | ||||
Loss from discontinued operations before income taxes | (10,922 | ) | (17,662 | ) | ||||
Provision for income taxes | 1,433 | 116 | ||||||
Net loss from discontinued operations | $ | (12,355 | ) | $ | (17,778 | ) |
|
Purchase price | $ | 54,242 | ||
Fair value of contingent consideration (earn-out) | 18,000 | |||
Fair value of total consideration transferred | $ | 72,242 |
Estimated Fair Value | ||||
Cash and cash equivalents | $ | 255 | ||
Accounts receivable | 272 | |||
Inventories | 10,214 | |||
Other current assets | 611 | |||
Property, plant, and equipment | 1,165 | |||
Intangible assets | 50,280 | |||
Other assets | 27 | |||
Total identifiable assets acquired | 62,824 | |||
Accounts payable | (10,513 | ) | ||
Accrued liabilities | (1,227 | ) | ||
Other current liabilities | (5,226 | ) | ||
Other long-term liabilities | (283 | ) | ||
Net identifiable assets acquired | $ | 45,575 | ||
Goodwill | 26,667 | |||
Net assets acquired | $ | 72,242 |
Preliminary Fair Value | Estimated Useful Life (years) | |||
Developed technology | $ | 18,450 | 4 | |
In-process research & development ("IPR&D") | 2,550 | Not Applicable | ||
Customer relationships | 19,900 | 8 | ||
Trade name | 9,380 | 6 | ||
Total intangible assets acquired | $ | 50,280 |
|
Three Months Ended September 30, | Six Months Ended September 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Cost of goods sold | $ | 638 | $ | 580 | $ | 1,313 | $ | 1,185 | ||||||||
Marketing and selling | 3,244 | 1,997 | 6,681 | 4,061 | ||||||||||||
Research and development | 917 | 655 | 1,831 | 1,328 | ||||||||||||
General and administrative | 3,651 | 3,074 | 7,142 | 6,248 | ||||||||||||
Restructuring | — | — | — | 7 | ||||||||||||
Total share-based compensation expense | 8,450 | 6,306 | 16,967 | 12,829 | ||||||||||||
Income tax benefit | (1,886 | ) | (1,160 | ) | (3,701 | ) | (2,497 | ) | ||||||||
Total share-based compensation expense, net of income tax | $ | 6,564 | $ | 5,146 | $ | 13,266 | $ | 10,332 |
|
|
September 30, 2016 | March 31, 2016 | |||||||
Accounts receivable, net: | ||||||||
Accounts receivable | $ | 446,430 | $ | 332,553 | ||||
Allowance for doubtful accounts | (805 | ) | (667 | ) | ||||
Allowance for sales returns | (22,090 | ) | (18,526 | ) | ||||
Allowance for cooperative marketing arrangements | (30,969 | ) | (28,157 | ) | ||||
Allowance for customer incentive programs | (57,472 | ) | (60,872 | ) | ||||
Allowance for pricing programs | (94,488 | ) | (81,553 | ) | ||||
$ | 240,606 | $ | 142,778 | |||||
Inventories: | ||||||||
Raw materials | $ | 35,805 | $ | 48,489 | ||||
Finished goods | 232,305 | 180,297 | ||||||
$ | 268,110 | $ | 228,786 | |||||
Other current assets: | ||||||||
Income tax and value-added tax receivables | $ | 21,184 | $ | 22,572 | ||||
Prepaid expenses and other assets | 19,017 | 12,916 | ||||||
$ | 40,201 | $ | 35,488 | |||||
Property, plant and equipment, net: | ||||||||
Property, plant and equipment at cost | $ | 376,287 | 371,212 | |||||
Less: accumulated depreciation and amortization | (291,490 | ) | (278,352 | ) | ||||
$ | 84,797 | $ | 92,860 | |||||
Other assets: | ||||||||
Deferred tax assets | $ | 54,187 | $ | 56,208 | ||||
Trading investments for deferred compensation plan | 14,826 | 14,836 | ||||||
Investments held in privately held companies | 9,900 | 9,247 | ||||||
Other assets | 5,604 | 6,525 | ||||||
$ | 84,517 | $ | 86,816 |
September 30, 2016 | March 31, 2016 | |||||||
Accrued and other current liabilities: | ||||||||
Accrued personnel expenses | $ | 64,163 | $ | 46,025 | ||||
Indirect customer incentive programs | 32,666 | 28,721 | ||||||
Warranty accrual | 13,528 | 11,880 | ||||||
Employee benefit plan obligation | 1,738 | 1,285 | ||||||
Income taxes payable | 2,606 | 1,553 | ||||||
Contingent consideration for business acquisition - current portion | 13,494 | — | ||||||
Other current liabilities | 85,715 | 84,300 | ||||||
$ | 213,910 | $ | 173,764 | |||||
Non-current liabilities: | ||||||||
Warranty accrual | $ | 8,084 | $ | 8,500 | ||||
Obligation for deferred compensation plan | 14,826 | 14,836 | ||||||
Employee benefit plan obligation | 53,335 | 53,909 | ||||||
Deferred rent | 8,656 | 9,424 | ||||||
Deferred tax liability | 1,665 | 1,665 | ||||||
Contingent consideration for business acquisition - non-current portion | 4,506 | — | ||||||
Other non-current liabilities | 1,341 | 1,201 | ||||||
$ | 92,413 | $ | 89,535 |
|
September 30, 2016 | March 31, 2016 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cash equivalents | $ | 100,742 | $ | — | $ | — | $ | 10,000 | $ | — | $ | — | ||||||||||||
Trading investments for deferred compensation plan: | ||||||||||||||||||||||||
Money market funds | $ | 3,051 | $ | — | $ | — | $ | 3,467 | $ | — | $ | — | ||||||||||||
Mutual funds | 11,775 | — | — | 11,369 | — | — | ||||||||||||||||||
Total of trading investments for deferred compensation plan | $ | 14,826 | $ | — | $ | — | $ | 14,836 | $ | — | $ | — | ||||||||||||
Currency exchange derivative assets | $ | — | $ | 909 | $ | — | $ | — | $ | 10 | $ | — | ||||||||||||
Liabilities: | ||||||||||||||||||||||||
Acquisition-related contingent consideration | $ | — | $ | — | $ | 18,000 | $ | — | $ | — | $ | — | ||||||||||||
Currency exchange derivative liabilities | $ | — | $ | 41 | $ | — | $ | — | $ | 1,132 | $ | — |
|
Derivatives | ||||||||||||||||
Asset | Liability | |||||||||||||||
September 30, 2016 | March 31, 2016 | September 30, 2016 | March 31, 2016 | |||||||||||||
Cash flow hedges | $ | 909 | $ | 10 | $ | — | $ | 1,038 |
Three Months Ended September 30, | ||||||||||||||||
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss After Reclassification to Costs of Goods Sold | Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Cash flow hedges | $ | 719 | $ | 1,060 | $ | 155 | $ | (28 | ) |
Six Months Ended September 30, | ||||||||||||||||
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss After Reclassification to Costs of Goods Sold | Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Cash flow hedges | $ | 2,424 | $ | (3,662 | ) | $ | 895 | $ | (2,488 | ) |
|
As of March 31, 2016 | $ | 218,224 | ||
Business acquisitions (See Note 3) | 31,553 | |||
Currency impact | (12 | ) | ||
As of September 30, 2016 | $ | 249,765 |
|
|
Three Months Ended September 30, | Six Months Ended September 30, | ||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||
Beginning of the period | $ | 21,752 | $ | 21,284 | $ | 20,380 | $ | 21,710 | |||||||
Assumed from business acquisition | 150 | — | 1,963 | — | |||||||||||
Provision | 3,163 | 1,879 | 6,340 | 3,792 | |||||||||||
Settlements | (3,452 | ) | (2,677 | ) | (6,880 | ) | (5,245 | ) | |||||||
Currency impact | (1 | ) | (87 | ) | (191 | ) | 142 | ||||||||
End of the period | $ | 21,612 | $ | 20,399 | $ | 21,612 | $ | 20,399 |
|
Three Months Ended September 30, | Six Months Ended September 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Mobile Speakers | $ | 97,172 | $ | 80,550 | $ | 154,468 | $ | 121,094 | ||||||||
Audio-PC & Wearables | 62,254 | 46,342 | 118,833 | 92,041 | ||||||||||||
Gaming | 79,193 | 67,624 | 135,693 | 111,294 | ||||||||||||
Video Collaboration | 28,581 | 20,059 | 52,491 | 41,235 | ||||||||||||
Home Control | 11,807 | 12,610 | 22,974 | 22,864 | ||||||||||||
Pointing Devices | 123,300 | 124,668 | 240,083 | 241,653 | ||||||||||||
Keyboards & Combos | 116,516 | 102,098 | 234,535 | 207,927 | ||||||||||||
Tablet & Other Accessories | 20,614 | 18,549 | 34,499 | 37,358 | ||||||||||||
PC Webcams | 24,307 | 23,360 | 49,569 | 45,041 | ||||||||||||
Other (1) | 560 | 403 | 1,023 | 1,144 | ||||||||||||
Total net retail sales | 564,304 | 496,263 | 1,044,168 | 921,651 | ||||||||||||
OEM | — | 22,231 | — | 44,529 | ||||||||||||
Total net sales | $ | 564,304 | 518,494 | $ | 1,044,168 | $ | 966,180 |
(1) | Other category includes products that the Company currently intends to transition out of, or has already transitioned out of, because they are no longer strategic to the Company's business. |
Three Months Ended September 30, | Six Months Ended September 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Americas | $ | 239,830 | $ | 224,766 | $ | 462,455 | $ | 440,441 | ||||||||
EMEA | 200,636 | 169,162 | 343,558 | 288,774 | ||||||||||||
Asia Pacific | 123,838 | 124,566 | 238,155 | 236,965 | ||||||||||||
Total net sales | $ | 564,304 | $ | 518,494 | $ | 1,044,168 | $ | 966,180 |
September 30, 2016 | March 31, 2016 | |||||||
Americas | $ | 38,157 | $ | 40,221 | ||||
EMEA | 3,704 | 3,194 | ||||||
Asia Pacific | 42,936 | 49,445 | ||||||
$ | 84,797 | $ | 92,860 |
|
Restructuring | ||||||||||||
Termination Benefits | Lease Exit Costs | Total | ||||||||||
Accrual balance at March 31, 2016 | $ | 6,275 | $ | 125 | $ | 6,400 | ||||||
Credits, net | (85 | ) | — | (85 | ) | |||||||
Cash payments | (1,908 | ) | (125 | ) | (2,033 | ) | ||||||
Accrual balance at June 30, 2016 | $ | 4,282 | $ | — | $ | 4,282 | ||||||
Charges | 74 | — | 74 | |||||||||
Cash payments | (1,473 | ) | — | (1,473 | ) | |||||||
Accrual balance at September 30, 2016 | $ | 2,883 | $ | — | $ | 2,883 |
|
|
Three Months Ended September 30, | Six Months Ended September 30, | |||||||
2015 | 2015 | |||||||
Net sales | $ | 21,368 | $ | 44,002 | ||||
Cost of goods sold | 7,874 | 16,712 | ||||||
Gross profit | 13,494 | 27,290 | ||||||
Operating expenses: | ||||||||
Marketing and selling | 11,044 | 22,675 | ||||||
Research and development | 6,005 | 11,668 | ||||||
General and administrative | 1,777 | 3,469 | ||||||
Restructuring charges, net | 5,550 | 7,007 | ||||||
Total operating expenses | 24,376 | 44,819 | ||||||
Operating loss from discontinued operations | (10,882 | ) | (17,529 | ) | ||||
Interest expense and other expense, net | (40 | ) | (133 | ) | ||||
Loss from discontinued operations before income taxes | (10,922 | ) | (17,662 | ) | ||||
Provision for income taxes | 1,433 | 116 | ||||||
Net loss from discontinued operations | $ | (12,355 | ) | $ | (17,778 | ) |
|
Purchase price | $ | 54,242 | ||
Fair value of contingent consideration (earn-out) | 18,000 | |||
Fair value of total consideration transferred | $ | 72,242 |
Estimated Fair Value | ||||
Cash and cash equivalents | $ | 255 | ||
Accounts receivable | 272 | |||
Inventories | 10,214 | |||
Other current assets | 611 | |||
Property, plant, and equipment | 1,165 | |||
Intangible assets | 50,280 | |||
Other assets | 27 | |||
Total identifiable assets acquired | 62,824 | |||
Accounts payable | (10,513 | ) | ||
Accrued liabilities | (1,227 | ) | ||
Other current liabilities | (5,226 | ) | ||
Other long-term liabilities | (283 | ) | ||
Net identifiable assets acquired | $ | 45,575 | ||
Goodwill | 26,667 | |||
Net assets acquired | $ | 72,242 |
Preliminary Fair Value | Estimated Useful Life (years) | |||
Developed technology | $ | 18,450 | 4 | |
In-process research & development ("IPR&D") | 2,550 | Not Applicable | ||
Customer relationships | 19,900 | 8 | ||
Trade name | 9,380 | 6 | ||
Total intangible assets acquired | $ | 50,280 |
|
Three Months Ended September 30, | Six Months Ended September 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Cost of goods sold | $ | 638 | $ | 580 | $ | 1,313 | $ | 1,185 | ||||||||
Marketing and selling | 3,244 | 1,997 | 6,681 | 4,061 | ||||||||||||
Research and development | 917 | 655 | 1,831 | 1,328 | ||||||||||||
General and administrative | 3,651 | 3,074 | 7,142 | 6,248 | ||||||||||||
Restructuring | — | — | — | 7 | ||||||||||||
Total share-based compensation expense | 8,450 | 6,306 | 16,967 | 12,829 | ||||||||||||
Income tax benefit | (1,886 | ) | (1,160 | ) | (3,701 | ) | (2,497 | ) | ||||||||
Total share-based compensation expense, net of income tax | $ | 6,564 | $ | 5,146 | $ | 13,266 | $ | 10,332 |
|
September 30, 2016 | March 31, 2016 | |||||||
Accounts receivable, net: | ||||||||
Accounts receivable | $ | 446,430 | $ | 332,553 | ||||
Allowance for doubtful accounts | (805 | ) | (667 | ) | ||||
Allowance for sales returns | (22,090 | ) | (18,526 | ) | ||||
Allowance for cooperative marketing arrangements | (30,969 | ) | (28,157 | ) | ||||
Allowance for customer incentive programs | (57,472 | ) | (60,872 | ) | ||||
Allowance for pricing programs | (94,488 | ) | (81,553 | ) | ||||
$ | 240,606 | $ | 142,778 | |||||
Inventories: | ||||||||
Raw materials | $ | 35,805 | $ | 48,489 | ||||
Finished goods | 232,305 | 180,297 | ||||||
$ | 268,110 | $ | 228,786 | |||||
Other current assets: | ||||||||
Income tax and value-added tax receivables | $ | 21,184 | $ | 22,572 | ||||
Prepaid expenses and other assets | 19,017 | 12,916 | ||||||
$ | 40,201 | $ | 35,488 | |||||
Property, plant and equipment, net: | ||||||||
Property, plant and equipment at cost | $ | 376,287 | 371,212 | |||||
Less: accumulated depreciation and amortization | (291,490 | ) | (278,352 | ) | ||||
$ | 84,797 | $ | 92,860 | |||||
Other assets: | ||||||||
Deferred tax assets | $ | 54,187 | $ | 56,208 | ||||
Trading investments for deferred compensation plan | 14,826 | 14,836 | ||||||
Investments held in privately held companies | 9,900 | 9,247 | ||||||
Other assets | 5,604 | 6,525 | ||||||
$ | 84,517 | $ | 86,816 |
September 30, 2016 | March 31, 2016 | |||||||
Accrued and other current liabilities: | ||||||||
Accrued personnel expenses | $ | 64,163 | $ | 46,025 | ||||
Indirect customer incentive programs | 32,666 | 28,721 | ||||||
Warranty accrual | 13,528 | 11,880 | ||||||
Employee benefit plan obligation | 1,738 | 1,285 | ||||||
Income taxes payable | 2,606 | 1,553 | ||||||
Contingent consideration for business acquisition - current portion | 13,494 | — | ||||||
Other current liabilities | 85,715 | 84,300 | ||||||
$ | 213,910 | $ | 173,764 | |||||
Non-current liabilities: | ||||||||
Warranty accrual | $ | 8,084 | $ | 8,500 | ||||
Obligation for deferred compensation plan | 14,826 | 14,836 | ||||||
Employee benefit plan obligation | 53,335 | 53,909 | ||||||
Deferred rent | 8,656 | 9,424 | ||||||
Deferred tax liability | 1,665 | 1,665 | ||||||
Contingent consideration for business acquisition - non-current portion | 4,506 | — | ||||||
Other non-current liabilities | 1,341 | 1,201 | ||||||
$ | 92,413 | $ | 89,535 |
|
September 30, 2016 | March 31, 2016 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cash equivalents | $ | 100,742 | $ | — | $ | — | $ | 10,000 | $ | — | $ | — | ||||||||||||
Trading investments for deferred compensation plan: | ||||||||||||||||||||||||
Money market funds | $ | 3,051 | $ | — | $ | — | $ | 3,467 | $ | — | $ | — | ||||||||||||
Mutual funds | 11,775 | — | — | 11,369 | — | — | ||||||||||||||||||
Total of trading investments for deferred compensation plan | $ | 14,826 | $ | — | $ | — | $ | 14,836 | $ | — | $ | — | ||||||||||||
Currency exchange derivative assets | $ | — | $ | 909 | $ | — | $ | — | $ | 10 | $ | — | ||||||||||||
Liabilities: | ||||||||||||||||||||||||
Acquisition-related contingent consideration | $ | — | $ | — | $ | 18,000 | $ | — | $ | — | $ | — | ||||||||||||
Currency exchange derivative liabilities | $ | — | $ | 41 | $ | — | $ | — | $ | 1,132 | $ | — |
|
Derivatives | ||||||||||||||||
Asset | Liability | |||||||||||||||
September 30, 2016 | March 31, 2016 | September 30, 2016 | March 31, 2016 | |||||||||||||
Cash flow hedges | $ | 909 | $ | 10 | $ | — | $ | 1,038 |
Three Months Ended September 30, | ||||||||||||||||
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss After Reclassification to Costs of Goods Sold | Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Cash flow hedges | $ | 719 | $ | 1,060 | $ | 155 | $ | (28 | ) |
Six Months Ended September 30, | ||||||||||||||||
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss After Reclassification to Costs of Goods Sold | Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Cash flow hedges | $ | 2,424 | $ | (3,662 | ) | $ | 895 | $ | (2,488 | ) |
|
As of March 31, 2016 | $ | 218,224 | ||
Business acquisitions (See Note 3) | 31,553 | |||
Currency impact | (12 | ) | ||
As of September 30, 2016 | $ | 249,765 |
|
Three Months Ended September 30, | Six Months Ended September 30, | ||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||
Beginning of the period | $ | 21,752 | $ | 21,284 | $ | 20,380 | $ | 21,710 | |||||||
Assumed from business acquisition | 150 | — | 1,963 | — | |||||||||||
Provision | 3,163 | 1,879 | 6,340 | 3,792 | |||||||||||
Settlements | (3,452 | ) | (2,677 | ) | (6,880 | ) | (5,245 | ) | |||||||
Currency impact | (1 | ) | (87 | ) | (191 | ) | 142 | ||||||||
End of the period | $ | 21,612 | $ | 20,399 | $ | 21,612 | $ | 20,399 |
|
Three Months Ended September 30, | Six Months Ended September 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Mobile Speakers | $ | 97,172 | $ | 80,550 | $ | 154,468 | $ | 121,094 | ||||||||
Audio-PC & Wearables | 62,254 | 46,342 | 118,833 | 92,041 | ||||||||||||
Gaming | 79,193 | 67,624 | 135,693 | 111,294 | ||||||||||||
Video Collaboration | 28,581 | 20,059 | 52,491 | 41,235 | ||||||||||||
Home Control | 11,807 | 12,610 | 22,974 | 22,864 | ||||||||||||
Pointing Devices | 123,300 | 124,668 | 240,083 | 241,653 | ||||||||||||
Keyboards & Combos | 116,516 | 102,098 | 234,535 | 207,927 | ||||||||||||
Tablet & Other Accessories | 20,614 | 18,549 | 34,499 | 37,358 | ||||||||||||
PC Webcams | 24,307 | 23,360 | 49,569 | 45,041 | ||||||||||||
Other (1) | 560 | 403 | 1,023 | 1,144 | ||||||||||||
Total net retail sales | 564,304 | 496,263 | 1,044,168 | 921,651 | ||||||||||||
OEM | — | 22,231 | — | 44,529 | ||||||||||||
Total net sales | $ | 564,304 | 518,494 | $ | 1,044,168 | $ | 966,180 |
(1) | Other category includes products that the Company currently intends to transition out of, or has already transitioned out of, because they are no longer strategic to the Company's business. |
Three Months Ended September 30, | Six Months Ended September 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Americas | $ | 239,830 | $ | 224,766 | $ | 462,455 | $ | 440,441 | ||||||||
EMEA | 200,636 | 169,162 | 343,558 | 288,774 | ||||||||||||
Asia Pacific | 123,838 | 124,566 | 238,155 | 236,965 | ||||||||||||
Total net sales | $ | 564,304 | $ | 518,494 | $ | 1,044,168 | $ | 966,180 |
September 30, 2016 | March 31, 2016 | |||||||
Americas | $ | 38,157 | $ | 40,221 | ||||
EMEA | 3,704 | 3,194 | ||||||
Asia Pacific | 42,936 | 49,445 | ||||||
$ | 84,797 | $ | 92,860 |
|
Restructuring | ||||||||||||
Termination Benefits | Lease Exit Costs | Total | ||||||||||
Accrual balance at March 31, 2016 | $ | 6,275 | $ | 125 | $ | 6,400 | ||||||
Credits, net | (85 | ) | — | (85 | ) | |||||||
Cash payments | (1,908 | ) | (125 | ) | (2,033 | ) | ||||||
Accrual balance at June 30, 2016 | $ | 4,282 | $ | — | $ | 4,282 | ||||||
Charges | 74 | — | 74 | |||||||||
Cash payments | (1,473 | ) | — | (1,473 | ) | |||||||
Accrual balance at September 30, 2016 | $ | 2,883 | $ | — | $ | 2,883 |
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