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Derivative Financial Instruments (Notes) | 3 Months Ended
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Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivative Financial Instruments Hedges of Interest Rate Risk We enter into interest rate swap contracts to manage differences in the amount of our known or expected cash payments related to our debt. Our objective in using interest rate derivatives is to add stability to interest expense and to manage our exposure to interest rate movements. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for us making fixed-rate payments over the life of the derivative agreements without exchange of the underlying notional amount. The effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in accumulated other comprehensive (loss) income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. If a derivative is deemed to be ineffective, the ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During the three months ended September 30, 2014 and 2013, we did not hold any interest rate derivative instruments that were determined to be ineffective. Amounts reported in accumulated other comprehensive (loss) income related to interest rate swap contracts will be reclassified to interest expense as interest payments are accrued or made on our variable-rate debt. Assuming these derivative instruments continue to qualify for hedge accounting, as of September 30, 2014, we estimate that $944 will be reclassified from accumulated other comprehensive (loss) income to interest income during the twelve months ending June 30, 2015. As of September 30, 2014, we had eight outstanding interest rate swap contracts indexed to one-month LIBOR. These instruments were designated as cash flow hedges of interest rate risk and have varying start dates and maturity dates from July 2014 through January 2017. Since the start date of certain contracts has not yet commenced, the notional amount of our outstanding contracts is in excess of the variable-rate debt being hedged as of the balance sheet date.
Interest rate swap contracts outstanding: |  | Notional Amounts
Contracts accruing interest as of September 30, 2014 |  | $ | 255,000 |
Contracts with a future start date |  | 40,000 |
Total |  | $ | 295,000 |
Hedges of Currency Risk We execute currency forward contracts in order to mitigate our exposure to fluctuations in various currencies against our reporting currency, the U.S. dollar. We use currency derivatives, specifically currency forward contracts, to manage this exposure. We did not elect hedge accounting for our current currency forward contract activity, as we performed an analysis to evaluate the benefits of hedge accounting relative to the additional economic cost of trade execution and administrative burden. However, we may elect to apply hedge accounting in future scenarios. During the three months ended September 30, 2014 and 2013, we have experienced volatility within other income (expense), net in our consolidated statements of operations from unrealized gains and losses on the mark-to-market of outstanding currency forward contracts. We expect this volatility to continue in future periods for contracts for which we do not apply hedge accounting. The effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in accumulated other comprehensive (loss) income and is subsequently reclassified into earnings in the period in which the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings as a component of other income (expense), net. As of September 30, 2014, we have no outstanding currency forward contracts that qualify for hedge accounting and, as such, there are no current balances to be reclassified into earnings over the next twelve months. As of September 30, 2014, we had the following outstanding currency forward contracts that were not designated for hedge accounting and were used to hedge fluctuations in the U.S. Dollar value of forecasted transactions denominated in Canadian Dollar, Danish Krone, The Euro, Great British Pound, Indian Rupee, New Zealand Dollar, Norwegian Krone, Swedish Krona, and Swiss Franc:
Notional Amount |  | Effective Date |  | Maturity Date |  | Number of Instruments |  | Index
$175,124 |  | December 2013 through September 2014 |  | Various dates through March 2016 |  | 266 |  | Various
Financial Instrument Presentation The table below presents the fair value of our derivative financial instruments as well as their classification on the balance sheet as of September 30, 2014 and June 30, 2014:
| September 30, 2014
| Asset Derivatives |  | Liability Derivatives
Derivatives designated as hedging instruments | Balance Sheet line item |  | Gross amounts of recognized assets |  | Gross amount offset in consolidated balance sheet |  | Net amount |  | Balance Sheet line item |  | Gross amounts of recognized liabilities |  | Gross amount offset in consolidated balance sheet |  | Net amount
Interest rate swaps | Other non-current assets |  | $ | 163 |  |  | $ | (61 | ) |  | $ | 102 |  |  | Other current liabilities/other liabilities |  | $ | (264 | ) |  | $ | — |  |  | $ | (264 | )
Total derivatives designated as hedging instruments |  |  | $ | 163 |  |  | $ | (61 | ) |  | $ | 102 |  |  |  |  | $ | (264 | ) |  | $ | — |  |  | $ | (264 | )
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Currency forward contracts | Other current assets / other assets |  | $ | 4,008 |  |  | $ | (898 | ) |  | $ | 3,110 |  |  | Other current liabilities |  | $ | (66 | ) |  | $ | — |  |  | $ | (66 | )
Total derivatives not designated as hedging instruments |  |  | $ | 4,008 |  |  | $ | (898 | ) |  | $ | 3,110 |  |  |  |  | $ | (66 | ) |  | $ | — |  |  | $ | (66 | )
| June 30, 2014
| Asset Derivatives |  | Liability Derivatives
Derivatives designated as hedging instruments | Balance Sheet line item |  | Gross amounts of recognized assets |  | Gross amount offset in consolidated balance sheet |  | Net amount |  | Balance Sheet line item |  | Gross amounts of recognized liabilities |  | Gross amount offset in consolidated balance sheet |  | Net amount
Interest rate swaps | Other non-current assets |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | Other current liabilities/other liabilities |  | $ | (771 | ) |  | $ | 26 |  |  | $ | (745 | )
Total derivatives designated as hedging instruments |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | (771 | ) |  | $ | 26 |  |  | $ | (745 | )
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Currency forward contracts | Other current assets |  | $ | 410 |  |  | $ | (28 | ) |  | $ | 382 |  |  | Other current liabilities |  | $ | (1,058 | ) |  | $ | 252 |  |  | $ | (806 | )
Total derivatives not designated as hedging instruments |  |  | $ | 410 |  |  | $ | (28 | ) |  | $ | 382 |  |  |  |  | $ | (1,058 | ) |  | $ | 252 |  |  | $ | (806 | )
The following table presents the effect of our derivative financial instruments designated as hedging instruments and their classification within comprehensive (loss) income for the three months ended September 30, 2014 and 2013:
Derivatives in Hedging Relationships |  | Amount of Gain (Loss) Recognized in Comprehensive (Loss) Income on Derivatives (Effective Portion)
|  | Three Months Ended September 30,
In thousands |  | 2014 |  | 2013
Currency contracts that hedge revenue |  | — |  |  | (107 | )
Currency contracts that hedge cost of revenue |  | — |  |  | 59 |
Currency contracts that hedge technology and development expense |  | — |  |  | 70 |
Currency contracts that hedge general and administrative expense |  | — |  |  | 12 |
Interest rate swaps |  | 299 |  |  | (294 | )
|  | $ | 299 |  |  | $ | (260 | )
The following table presents reclassifications out of accumulated other comprehensive (loss) income for the three months ended September 30, 2014 and 2013:
Details about Accumulated Other Comprehensive (Loss) Income Components |  | Amount Reclassified from Accumulated Other Comprehensive (Loss) Income to Net Income Gain/(Loss) |  | Affected line item in the Statement of Operations
|  | Three Months Ended September 30, |  |
In thousands |  | 2014 |  | 2013 |  |
Currency contracts that hedge revenue |  | $ | — |  |  | $ | (120 | ) |  | Revenue
Currency contracts that hedge cost of revenue |  | — |  |  | (112 | ) |  | Cost of revenue
Currency contracts that hedge technology and development expense |  | — |  |  | 122 |  |  | Technology and development expense
Currency contracts that hedge general and administrative expense |  | — |  |  | 11 |  |  | General and administrative expense
Interest rate swaps |  | (284 | ) |  | (75 | ) |  | Interest income (expense), net
Total before income tax |  | (284 | ) |  | (174 | ) |  | Income (loss) before income taxes and loss in equity interests
Income tax |  | 71 |  |  | 15 |  |  | Income tax provision (benefit)
Total |  | $ | (213 | ) |  | $ | (159 | ) |  |
The following table presents the adjustment to fair value recorded within the statement of operations for derivative instruments for which we did not elect hedge accounting, as well as the effect of our de-designated derivative financial instruments that no longer qualify as hedging instruments in the period:
Derivatives not classified as hedging instruments |  | Amount of Gain (Loss) Recognized in Income |  | Location of Gain (Loss) Recognized in Income (Ineffective Portion)
|  | Three Months Ended September 30, |  |
In thousands |  | 2014 |  | 2013 |  |
Currency contracts |  | $ | 3,451 |  |  | $ | (5,209 | ) |  | Other income (expense), net

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80748-113994 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5618551-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5708775-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624181-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4H -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624258-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624163-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5708773-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4D -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624177-113959 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41620-113959 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579245-113959 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5580258-113959 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579240-113959 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41641-113959 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41638-113959 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959 + Details
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