Tellurian Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2012

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the amounts of assets and liabilities carried at fair value by the level in which they are classified within the valuation hierarchy for the years ended:



	June 30, 2012
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Cash and cash equivalents	$	41,215	$	—	$	—	$	41,215
Securities available for sale	155		—		—		155
	$	41,370	$	—	$	—	$	41,370
Liabilities
Contingent consideration payable	$	—	$	—	$	4,072	$	4,072

	June 30, 2011
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Cash and cash equivalents	$	20,417	$	—	$	—	$	20,417
Securities available for sale	238		—		—		238
	$	20,655	$	—	$	—	$	20,655

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents a roll forward of liabilities measured at fair value using significant unobservable inputs (Level 3) as of:



	June 30, 2012
	(In thousands)
Balance at beginning of year	$	—
Contingent consideration payable addition	4,072
Balance at end of year	$	4,072

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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