XML 62 R52.htm IDEA: XBRL DOCUMENT v3.23.3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Sep. 30, 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 September 30, 2023												As of June 30, 2023
Instrument						Balance Sheet Location			Asset						Liability						Asset						Liability
Derivatives designated as hedges:
Cash flow hedge						Prepaid expenses and other current assets (Accounts payable and accrued liabilities)			$	—					$	(963)					$	1,530					$	—
Net investment hedge						Prepaid expenses and other current assets (Accounts payable and accrued liabilities)			304						(70,748)						596						(87,855)
Total derivatives designated as hedges									304						(71,711)						2,126						(87,855)
Derivatives not designated as hedges:
Cross currency swap contracts						Prepaid expenses and other current assets (Accounts payable and accrued liabilities)			627						(55,441)						1,421						(73,336)
Total derivatives not designated as hedges									627						(55,441)						1,421						(73,336)
Total derivatives									$	931					$	(127,152)					$	3,547					$	(161,191)

The effects of gains (losses) from derivative instruments on our Condensed Consolidated Statements of Income is as follows:

												Three Months Ended September 30,
Instrument						Income Statement Location						2023						2022
Derivatives designated as hedges:
Cash flow hedge						Operating expenses						$	(12)					$	(800)
Net investment hedge						Interest and other related expense, net						922						—
Derivatives not designated as hedges:
Deal-contingent forward contract						Other income (expense), net						—						(125,331)
Non-contingent forward contract						Other income (expense), net						—						(26,203)
Cross currency swap contracts						Other income (expense), net						17,895						(29,927)
Cross currency swap contracts						Interest and other related expense, net						856						—
Total												$	19,661					$	(182,261)

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 September 30,
			Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income Location						2023						2022
Gain (loss) recognized in OCI (loss) on cash flow hedge (effective portion)			Unrealized gain (loss) on cash flow hedge						$	(2,505)					$	(4,546)
Gain (loss) recognized in OCI (loss) on net investment hedge (effective portion)			Net foreign currency translation adjustment						$	17,107					$	—
Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedge			Operating expenses						$	(12)					$	(800)
Gain (loss) reclassified from AOCI into income (excluded from effectiveness testing) - net investment hedge			Interest and other related expense, net						$	561					$	—

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 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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

+ Details

Name:	us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

+ Details

Name:	us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration