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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 9 Months Ended
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Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets | The fair values of outstanding derivative instruments are as follows:
|  |  | As of March 31, 2023 |  | As of June 30, 2022
Instrument |  | Balance Sheet Location | Asset |  | Liability |  | Asset |  | Liability
Derivatives designated as hedges: |  |  |  |  |  |  |  |  |
Cash flow hedge |  | Accounts payable and accrued liabilities | $ | — |  |  | $ | (830) |  |  | $ | — |  |  | $ | (892) |
Net investment hedge |  | Accounts payable and accrued liabilities | — |  |  | (66,601) |  |  | — |  |  | — |
Total derivatives designated as hedges: |  |  | $ | — |  |  | $ | (67,431) |  |  | $ | — |  |  | $ | (892) |
Derivatives not designated as hedges: |  |  |  |  |  |  |  |  |
Cross currency swap contracts |  | Accounts payable and accrued liabilities | — |  |  | (57,061) |  |  | — |  |  | — |
Total derivatives not designated as hedges: |  |  | $ | — |  |  | $ | (57,061) |  |  | $ | — |  |  | $ | — |
Total derivatives |  |  | $ | — |  |  | $ | (124,492) |  |  | $ | — |  |  | $ | (892) |
The effects of gains (losses) from derivative instruments on our Condensed Consolidated Statements of Income is as follows:
|  |  |  | Three Months Ended March 31, |  | Nine Months Ended March 31,
Instrument |  | Income Statement Location |  | 2023 |  | 2022 |  | 2023 |  | 2022
Derivatives designated as hedges: |  |  |  |  |  |  |  |  |  |
Cash flow hedge |  | Operating expenses |  | $ | (951) |  |  | $ | (298) |  |  | $ | (3,249) |  |  | $ | 117 |
Net investment hedge |  | Interest and other related expense, net |  | 491 |  |  | — |  |  | 491 |  |  | — |
Derivatives not designated as hedges: |  |  |  |  |  |  |  |  |  |
Deal-contingent forward contract |  | Other income (expense), net |  | 9,072 |  |  | — |  |  | 9,357 |  |  | — |
Non-contingent forward contract |  | Other income (expense), net |  | 2,489 |  |  | — |  |  | 9,052 |  |  | — |
Cross currency swap contracts |  | Other income (expense), net |  | 23,197 |  |  | — |  |  | 6,495 |  |  | — |
Cross currency swap contracts |  | Interest and other related expense, net |  | 627 |  |  | — |  |  | 627 |  |  | — |
Total |  |  |  | $ | 34,925 |  |  | $ | (298) |  |  | $ | 22,773 |  |  | $ | 117 |
Schedule of Effects of Derivative Instruments on Income and Other Comprehensive Income (OCI) | The effects of the cash flow and net investment hedges on our Condensed Consolidated Statements of Comprehensive Income:
|  |  | Three Months Ended March 31, |  | Nine Months Ended March 31,
| Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income Location |  | 2023 |  | 2022 |  | 2023 |  | 2022
Gain (loss) recognized in OCI (loss) on cash flow hedge (effective portion) | Unrealized gain (loss) on cash flow hedge |  | $ | 53 |  |  | $ | 881 |  |  | $ | (3,187) |  |  | $ | (455) |
Gain (loss) recognized in OCI (loss) on net investment hedge (effective portion) | Net foreign currency translation adjustment |  | $ | (11,093) |  |  | $ | — |  |  | $ | (11,093) |  |  | $ | — |
Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedge | Operating expenses |  | $ | (951) |  |  | $ | (298) |  |  | $ | (3,249) |  |  | $ | 117 |
Gain (loss) reclassified from AOCI into income (excluded from effectiveness testing) - net investment hedge | Interest and other related expense, net |  | $ | 187 |  |  | $ | — |  |  | $ | 187 |  |  | $ | — |

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure for fair value 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 -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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