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Derivative Financial Instruments (Tables) | 12 Months Ended
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Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Instruments | The following table summarizes the total fair value, including interest accruals, and outstanding notional amounts of derivative instruments as of June 30, 2023 and June 30, 2022 (in thousands):
| June 30, 2023 |  | June 30, 2022
| Notional Amount |  | Derivative Assets |  | Derivative Liabilities |  | Notional Amount |  | Derivative Assets |  | Derivative Liabilities
Derivatives designated as cash flow hedges
Interest rate contracts - cash flow hedges | $ | 800,000 |  |  | $ | 751 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Derivatives not designated as hedges
Interest rate contracts | 2,102,944 |  |  | 49,794 |  |  | — |  |  | 1,690,000 |  |  | 49,983 |  |  | — |
Total gross derivative assets/liabilities | $ | 2,902,944 |  |  | $ | 50,545 |  |  | $ | — |  |  | $ | 1,690,000 |  |  | $ | 49,983 |  |  | $ | — |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following table summarizes the impact of the cash flow hedges on AOCI (in thousands):
|  | Year ended June 30, 2023
Balance at beginning of period |  | $ | — |
Changes in fair value |  | 805 |
Amounts reclassified into earnings (1) |  | 54 |
Balance at end of period (2) |  | $ | 751 |
(1)The amounts reclassified into earnings is presented in the consolidated statements of income within funding costs. (2)Over the next 12 months, we expect to reclassify $0.8 million of net derivative gains included in AOCI into funding costs within our consolidated statement of operations and comprehensive loss.
Summary of Gain (Loss) on Derivative Instruments | The following table summarizes the impact of the derivative instruments on income and indicates where within the consolidated statement of operations and comprehensive loss such impact is reported (in thousands):
Location of gains (losses) where the effects of derivatives are recorded |  | Year ended June 30,
| 2023 |  | 2022
The effects of cash flow hedging
Funding costs |  | 54 |  |  | — |
The effects of derivatives not designated in hedging relationships
Other income, net |  | 48,074 |  |  | 48,607 |

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- 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
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