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10-K/A
ACETO CORP filed this Form 10-K/A on 11/09/2017
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ACETO CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

YEARS ENDED JUNE 30, 2017, 2016 AND 2015

(in thousands, except per-share amounts)

 

The carrying values of all financial instruments classified as a current asset or current liability are deemed to approximate fair value because of the short maturity of these instruments. The fair values of the Company’s notes receivable and short-term and long-term bank loans were based upon current rates offered for similar financial instruments to the Company.

 

The following tables summarize the valuation of the Company’s financial assets and liabilities which were determined by using the following inputs at June 30, 2017 and 2016:

 

   Fair Value Measurements at June 30, 2017 Using 
   Quoted Prices
in Active
Markets
(Level 1)
   Significant
Other
Observable
Inputs
(Level 2)
  

Significant

Unobservable
Inputs

(Level 3)

   Total 
Cash equivalents:                    
Time deposits   -   $5,781    -   $5,781 
Investments:                    
Time deposits   -    2,046    -    2,046 
                     
Foreign currency contracts-assets (1)   -    486    -    486 
Foreign currency contracts-liabilities (2)   -    137    -    137 
Derivative liability for interest rate swap(3)        581         581 
Contingent consideration (4)   -    -   $2,952    2,952 

 

(1)Included in “Other receivables” in the accompanying Consolidated Balance Sheet as of June 30, 2017.
(2)Included in “Accrued expenses” in the accompanying Consolidated Balance Sheet as of June 30, 2017.
(3)Included in “Long-term liabilities” in the accompanying Consolidated Balance Sheet as of June 30, 2017.
(4)$145 included in “Accrued expenses” and $2,807 included in “Long-term liabilities” in the accompanying Consolidated Balance Sheet as of June 30, 2017.

 

   Fair Value Measurements at June 30, 2016 Using 
   Quoted Prices
in Active
Markets
(Level 1)
   Significant
Other
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
   Total 
Cash equivalents:                    
Time deposits   -   $6,249    -   $6,249 
Investments:                    
Time deposits   -    881    -    881 
                     
Foreign currency contracts-assets (5)   -    160    -    160 
Foreign currency contracts-liabilities (6)   -    169    -    169 
Contingent consideration (7)   -    -   $132    132 

 

(5)Included in “Other receivables” in the accompanying Consolidated Balance Sheet as of June 30, 2016.
(6)Included in “Accrued expenses” in the accompanying Consolidated Balance Sheet as of June 30, 2016.
(7)Included in “Long-term liabilities” in the accompanying Consolidated Balance Sheet as of June 30, 2016.

 

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