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Fair Value Measurements (Tables) | 6 Months Ended
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Dec. 31, 2024
Notes Tables |
Schedule of information by level for financial assets and liabilities that are measured at fair value on a recurring basis | ​ The following tables provide information by level for financial assets and liabilities that are measured at fair value on a recurring basis (in thousands). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ |  | Total |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | value as of | ​ | Fair Value Measurements Using
​ | Balance Sheet Location | ​ | December 31, | ​ | Inputs Considered as
​ | ​ | ​ | 2024 | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets | ​ |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Derivatives designated as hedging instruments - cash flow hedges | Other current assets | ​ | $ | 6,063 | ​ | $ | — | ​ | $ | 6,063 | ​ | $ | —
Derivatives designated as hedging instruments - cash flow hedges | Other assets | ​ | ​ | 528 | ​ | ​ | — | ​ | ​ | 528 | ​ | ​ | —
Derivatives designated as hedging instruments - net investment hedge | Other assets | ​ | ​ | 2,699 | ​ | ​ | — | ​ | ​ | 2,699 | ​ | ​ | —
Total assets | ​ | ​ | $ | 9,290 | ​ | $ | — | ​ | $ | 9,290 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ |  | Total |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | value as of | ​ | Fair Value Measurements Using
​ | Balance Sheet Location | ​ | June 30, | ​ | Inputs Considered as
​ | ​ |  | 2024 |  | Level 1 |  | Level 2 |  | Level 3
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets | ​ |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Certificates of deposit(1) | Short-term available-for-sale investments | ​ | $ | 1,072 | ​ | $ | 1,072 | ​ | $ | — | ​ | $ | —
Derivatives designated as hedging instruments - cash flow hedges | Other current assets | ​ | ​ | 805 | ​ | ​ | — | ​ | ​ | 805 | ​ | ​ | —
Derivatives designated as hedging instruments - cash flow hedges | Other assets | ​ |  | 9,813 | ​ |  | — | ​ |  | 9,813 | ​ |  | —
Total assets | ​ | ​ | $ | 11,690 | ​ | $ | 1,072 | ​ | $ | 10,618 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivatives designated as hedging instruments - net investment hedge | Other long-term liabilities | ​ | $ | 2,051 | ​ | $ | — | ​ | $ | 2,051 | ​ | $ | —
Total liabilities | ​ | ​ | $ | 2,051 | ​ | $ | — | ​ | $ | 2,051 | ​ | $ | —
(1) | The certificates of deposit have contractual maturity dates within one year.
Schedule of contractual amounts of the outstanding instruments | The following table presents the contractual amounts of the Company's outstanding instruments (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ |  | December 31, | ​ | June 30,
Instruments | ​ | Designation |  | 2024 | ​ | 2024
Forward starting swaps(1) | ​ | Cash flow hedge | ​ | $ | 300 | ​ | $ | 300
Cross-currency swap(2) | ​ | Net investment hedge | ​ | ​ | 140 | ​ | ​ | 150
​ (1) In May 2021, the Company entered into a forward starting swap designated as a cash flow hedge on forecasted debt based on $200 million of notional principal. The effective date of the swap was November 2022 with the full swap maturing in November 2025. In March 2023, the Company entered into a forward starting swap designated as a cash flow hedge on forecasted debt based on $100 million of notional principal. The effective date of the swap was April 2023 with the full swap maturing in April 2025. In August 2024, the Company entered into a new forward starting swap designated as a cash flow hedge on forecasted debt based on $100 million of notional principal that will go into effect in April 2025 to replace a swap that matures in April 2025. The effective date of the new swap is April 2025 with the full swap maturing in April 2026. (2) In July 2023, the Company entered into a pay-fixed rate, receive-fixed rate cross-currency swap contract with a total notional amount of $150 million that was designated as a hedge to lock in the Swiss franc (CHF) rate for a portion of the Company's CHF net investment in its Lunaphore subsidiary in Switzerland. The objective of the hedge is to protect the net investment in the Company's CHF-denominated operations against changes in the spot exchange rates, on a pre-tax basis. The hedging instrument has three interim settlement dates, which will reduce the notional on the hedging instrument by $10 million at each interim date, and will reduce the notional to $110 million at maturity.
Schedule of pretax amount of the gains and losses on our hedging instruments and the classification of those gains and losses | The pretax amount of the gains and losses on our hedging instruments and the classification of those gains and losses within our Consolidated Financial Statements for the three and six months ended December 31, 2024 and 2023 were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | (Gain) Loss Recognized in Accumulated Other Comprehensive Loss
​ |  | ​ | Quarter Ended | ​ | Six Months Ended
​ | ​ | ​ | December 31, | ​ | December 31,
​ |  | ​ | 2024 |  | 2023 | ​ | 2024 | ​ | 2023
Cash flow hedges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Forward starting swaps | ​ | ​ | $ | 1,689 |  | $ | 5,669 | ​ | $ | 6,699 | ​ | $ | 7,956
Net investment hedges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cross-currency swap | ​ | ​ | ​ | (7,690) |  | ​ | 7,545 | ​ | ​ | (2,525) | ​ | ​ | 7,243
Total | ​ | ​ | $ | (6,001) | ​ | $ | 13,214 | ​ | $ | 4,174 | ​ | $ | 15,199
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | (Gain) Loss Reclassified into Income | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | Quarter Ended | ​ | Six Months Ended | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | December 31, | ​ | December 31, | ​ | Location of (Gain) Loss
​ |  | ​ | 2024 |  | 2023 | ​ | 2024 | ​ | 2023 | ​ | in Income Statement
Cash flow hedges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Forward starting swaps | ​ | ​ | $ | (2,155) |  | $ | (2,620) | ​ | $ | (4,754) | ​ | $ | (5,159) | ​ | Interest expense
Net investment hedges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cross-currency swap | ​ | ​ | ​ | (660) |  | ​ | (837) | ​ | ​ | (1,442) | ​ | ​ | (1,535) | ​ | Interest expense
Total | ​ | ​ | $ | (2,815) | ​ | $ | (3,457) | ​ | $ | (6,196) | ​ | $ | (6,694) | ​ | ​ | ​ | ​ | ​ | ​

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: 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 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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