XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.24.3

Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended
--- | ---
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Values of Derivative Instruments | The following table presents our assets and liabilities related to derivative instruments on a gross basis within the condensed consolidated balance sheets (in thousands):
| September 30, 2024 |  | June 30, 2024 |  | Balance Sheet Caption
Derivative Assets |  |  |  |  |
Not Designated as Hedging Instruments |  |  |  |  |
Foreign currency hedging instruments | $ | 24,664 |  |  | $ | 2,343 |  |  | Prepaid expenses and other current assets
Foreign currency hedging instruments | — |  |  | 89 |  |  | Prepaid taxes and other non-current assets
Total derivative assets | $ | 24,664 |  |  | $ | 2,432 |  |  |
Derivative Liabilities |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |
Foreign cross-currency swaps – Fair Value Hedge | $ | 22,289 |  |  | $ | 10,472 |  |  | Other long-term liabilities
Foreign cross-currency swaps – Net Investment Hedge | 50,006 |  |  | 21,270 |  |  | Other long-term liabilities
Not Designated as Hedging Instruments |  |  |  |  |
Foreign currency hedging instruments | 2,438 |  |  | 4,654 |  |  | Accrued expenses
Foreign currency hedging instruments | — |  |  | 142 |  |  | Other long-term liabilities
Total derivative liabilities | $ | 74,733 |  |  | $ | 36,538 |  |  |
Schedule of Derivative Gains (Losses) | We recognized the following gains (losses) on the foreign cross currency swaps designated as fair value hedges (in thousands):
| Three Months Ended September 30, |  |
| 2024 |  | 2023 |  |  |  |
Gain (loss) recognized in other comprehensive income (loss) | $ | 429 |  |  | $ | 588 |  |  |  |  |
Gain (loss) recognized on cross-currency swap in interest (expense) income, net (amount excluded from effectiveness testing) | $ | 1,074 |  |  | $ | 1,181 |  |  |  |  |
Gain (loss) recognized on cross-currency swap in other, net | $ | (12,246) |  |  | $ | 9,271 |  |  |  |  |
Gain (loss) recognized on intercompany debt in other, net | $ | 12,246 |  |  | $ | (9,271) |  |  |  |  |
We recognized the following gains (losses) on the foreign cross currency swaps designated as net investment hedges (in thousands):
| Three Months Ended September 30, |  |
| 2024 |  | 2023 |  |  |  |
Gain (loss) recognized in cumulative translation adjustment within other comprehensive income (loss) | $ | (28,736) |  |  | $ | 23,436 |  |  |  |  |
Gain (loss) recognized from the excluded components in interest (expense) income, net | $ | 2,767 |  |  | $ | 3,013 |  |  |  |  |
We recognized the following gains (losses) in the condensed consolidated statement of operations on derivatives not designated as hedging instruments (in thousands):
| Three Months Ended September 30, |  |
| 2024 |  | 2023 |  |  |  |
Gain (loss) recognized on foreign currency hedging instruments in other, net | $ | 42,783 |  |  | $ | (15,073) |  |  |  |  |
Gain (loss) recognized on other foreign-currency-denominated transactions in other, net | (45,231) |  |  | 17,646 |  |  |  |  |
Total | $ | (2,448) |  |  | $ | 2,573 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration