Tellurian Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

9 Months Ended

Mar. 31, 2013

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 as follows:



	March 31, 2013
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Cash and cash equivalents	$	14,516	$	—	$	—	$	14,516
Securities available for sale ⁽¹⁾	125		—		—		125
	$	14,641	$	—	$	—	$	14,641
Liabilities
Contingent consideration payable	$	—	$	—	$	4,244	$	4,244

	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 ⁽¹⁾	155		—		—		155
	$	41,370	$	—	$	—	$	41,370
Liabilities
Contingent consideration payable	$	—	$	—	$	4,072	$	4,072

⁽¹⁾ Included in the unaudited condensed consolidated balance sheets under prepaid and other assets.

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) for the nine months ended March 31, 2013:



	Total
	(In thousands)
June 30, 2012	$	4,072
Accretion of contingent consideration payable	172
March 31, 2013	$	4,244

- 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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