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Derivatives
 9 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives
  • 12.   Derivatives
The fair value of these derivative instruments is determined based upon pricing models using observable market inputs for these types of financial instruments (level 2 inputs per ASC 820).
At March 31, 2014, significant outstanding derivatives employed to manage market risk and designated as cash flow hedges were as follows:
 
​
Instrument
​
​
Hedge
​
​
Notional 
Amount at 
March 31, 
2014
​
​
Fair value as of
​
​
March 31, 
2014
​
​
June 30, 
2013
​
​
Options
​
​
Brazilian Real calls
​
​
R$96,000
​
​
​
$
334
 
​
​
​
​
$
365
 
​
​
​
Options
​
​
Brazilian Real puts
​
​
(R$96,000)
​
​
​
$
(264
)
​
​
​
​
$
(1,004
)
​
​
​
​
​
​
​
​
​
​
​
​
​
​
 
The unrecognized gains (losses) at March 31, 2014 are unrealized and will fluctuate depending on future exchange rates until the underlying contracts mature. Of the $70 of unrecognized gains (losses) on derivative instruments included in accumulated other comprehensive income (loss) at March 31, 2014, the Company anticipates approximately $6 of the current fair value would be recorded in earnings within the next twelve months. The Company recognizes gains (losses) on derivative instruments as a component of cost of goods sold when the hedged item is sold. The Company hedges forecasted transactions for periods not exceeding the next twenty-four months.