BALANCE SHEET COMPONENTS (Tables)
 12 Months Ended
Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]  
Inventories
Inventories consisted of the following (in thousands):
June 30,
20202019
Finished goods$282,381 $260,895 
Raw materials3,562 3,386 
Total$285,943 $264,281 
Property and equipment, net
Property and equipment, net consisted of the following (in thousands):
June 30,
20202019
Testing equipment$12,476 $10,258 
Tooling equipment13,601 10,624 
Leasehold improvements12,944 11,712 
Computer and other equipment7,676 7,264 
Software7,266 6,870 
Furniture and fixtures2,147 2,083 
Corporate aircraft64,659 — 
Property and Equipment, Gross120,769 48,811 
Less: Accumulated depreciation(42,247)(35,193)
Property and Equipment, net$78,522 $13,618 
Other long-term assets
Other long-term assets consisted of the following (in thousands):
June 30,
20202019
Deposits on aircraft (1)
$— $42,000 
Hong Kong tax deposit (2)
35,495 19,960 
Intangible assets, net (3)
3,063 3,257 
Other long-term assets (4)
4,665 8,724 
Total$43,223 $73,941 
(1) The Company made $42 million and $15 million in deposits related to the purchase of an airplane in fiscal 2019 and fiscal 2020. During the third quarter of fiscal 2020, the Company made its final payment that was due upon transfer of title and receipt of the airplane. As a result, the Company reclassified the $57 million in deposits related to the purchase, to Property and Equipment, net on our Consolidated Balance Sheet. As a result of an independent security study, the Company’s independent directors approved the purchase of the airplane, which Mr. Pera will be expected to use for all business and personal air travel.
(2) The Company made a total of $35.5 million of deposits with the Hong Kong Inland Revenue Department (“IRD”) in connection with extending the statute of limitation for income tax examinations currently under audit for the 2010-2014 tax years. Of that amount, $15.5 million, $13.4 million, and $6.6 million were made during fiscal year 2020, 2019 and 2018, respectively. We expect the $35.5 million of deposits made with the IRD to be refunded upon completion of the audit. See Note 14 to the consolidated financial statements for additional details regarding this ongoing tax audit.
(3) Accumulated amortization was $1.8 million and $1.6 million as June 30, 2020 and June 30, 2019, respectively.
(4) During fiscal 2019, the Company entered into a $5 million strategic cost method investment where the Company acquired preferred stock. The shares were recorded at cost in Other Long-Term Assets on our Consolidated Balance Sheet. During fiscal 2020, the Company recorded an impairment charge of $5 million. This unrealized loss is reflected in Interest expense and other, net on the Consolidated Statement of Operations and Comprehensive Income.
Other accrued liabilities
Other current liabilities consisted of the following (in thousands):
June 30,
20202019
Deferred revenue — short term revenue$16,464 $15,338 
Accrued expenses12,148 14,203 
Lease Liability — current7,056 — 
Warranty accrual4,538 4,518 
Accrued compensation and benefits4,084 3,866 
Customer Deposits2,061 2,982 
Reserves for sales returns1,275 783 
Other payables6,096 42,543 
Total$53,722 $84,233 

Other Long-Term Liabilities
June 30,
20202019
Deferred Revenue — long term$6,254 $6,525 
Other long-term liabilities58 1,915 
Total$6,312 $8,440