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Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivatives

(in thousands)			March 31, 2024						June 30, 2023
Derivatives designated as hedging instruments
Other current assets - range forward contracts			$	126					$	—
Total derivatives designated as hedging instruments			126						—
Derivatives not designated as hedging instruments
Other current assets - currency forward contracts			$	3					$	68
Other current liabilities - currency forward contracts			(10)						(100)
Total derivatives not designated as hedging instruments			(7)						(32)
Total derivatives			$	119					$	(32)

(Gains) losses related to derivatives not designated as hedging instruments

related to derivatives not designated as hedging instruments have been recognized as follows:

			Three Months Ended March 31,												Nine Months Ended March 31,
(in thousands)			2024						2023						2024						2023
Other (income) expense, net - currency forward contracts			$	14					$	56					$	43					$	(447)

Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location

As of March 31, 2024, the foreign currency-denominated intercompany loans payable designated as net investment hedges consisted of:

Instrument			Notional (EUR and CNY in thousands)(2)			Notional (USD in thousands)(2)			Maturity
Foreign currency-denominated intercompany loan payable			€	10,147		$	10,967		June 2024
Foreign currency-denominated intercompany loan payable			€	11,007		$	11,897		June 2024
Foreign currency-denominated intercompany loan payable			¥	110,710		$	15,316		November 2024
Foreign currency-denominated intercompany loan payable			¥	109,136		$	15,098		February 2025

(2) Includes principal and accrued interest.

Schedule of Cash Hedges

The following represents gains (losses), net of tax, related to cash flow hedges:

			Three Months Ended March 31,												Nine Months Ended March 31,
(in thousands)			2024						2023						2024						2023
Unrealized gain (loss) recognized in other comprehensive income			$	16					$	—					$	(43)					$	—

No portion of the gains or losses recognized in earnings was due to ineffectiveness and no amounts were excluded from our effectiveness testing for the three months ended March 31, 2024 and 2023.

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Schedule of Cash Hedges

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging 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 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B

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Tabular disclosure for net investment hedges 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.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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

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