XML 60 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivative Financial Instruments (Tables)
 12 Months Ended
Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments [Table Text Block]
As of June 30, 2018, we had the following outstanding currency derivative 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 Australian Dollar, British Pound, Canadian Dollar, Danish Krone, Euro, Indian Rupee, Mexican Peso, New Zealand Dollar, Norwegian Krone, Philippine Peso and Swedish Krona:
Notional Amount
 
Effective Date
 
Maturity Date
 
Number of Instruments
 
Index
$606,461
 
March 2017 through June 2018
 
Various dates through June 2020
 
518
 
Various
As of June 30, 2018, we had nine outstanding interest rate swap contracts indexed to USD LIBOR. These instruments were designated as cash flow hedges of interest rate risk and have varying start dates and maturity dates through December 2025.
Interest rate swap contracts outstanding:
 
Notional Amounts
Contracts accruing interest as of June 30, 2018
 
$
115,000

Contracts with a future start date
 
300,000

Total
 
$
415,000
Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The table below presents the fair value of our derivative financial instruments as well as their classification on the balance sheet as of June 30, 2018 and June 30, 2017. Our derivative asset and liability balances will fluctuate with interest rate and currency exchange rate volatility.
 
June 30, 2018
 
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
Derivatives in cash flow hedging relationships
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
Other current assets / other assets
 
$
13,374

 
$
(4
)
 
$
13,370

 
Other current liabilities / other liabilities
 
$
—

 
$
—

 
$
—

Cross-currency swaps
Other current assets
 
—

 
—

 
—

 
Other current liabilities
 
(10,659
)
 
—

 
(10,659
)
Derivatives in net investment hedging relationships
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cross-currency swaps
Other current assets
 
—

 
—

 
—

 
Other current liabilities
 
(14,689
)
 
—

 
(14,689
)
Currency forward contracts
Other non-current assets
 
—

 
—

 
—

 
Other current liabilities / other liabilities
 
(13,387
)
 
—

 
(13,387
)
Total derivatives designated as hedging instruments

 
$
13,374

 
$
(4
)
 
$
13,370

 

 
$
(38,735
)
 
$
—

 
$
(38,735
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency forward contracts
Other current assets / other assets
 
$
10,433

 
$
(1,231
)
 
$
9,202

 
Other current liabilities / other liabilities
 
$
(1,080
)
 
$
266

 
$
(814
)
Currency option contracts
Other current assets / other assets
 
1,782

 
—

 
1,782

 
Other current liabilities / other liabilities
 
(85
)
 
—

 
(85
)
Total derivatives not designated as hedging instruments
 
 
$
12,215

 
$
(1,231
)
 
$
10,984

 

 
$
(1,165
)
 
$
266

 
$
(899
)

June 30, 2017

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
Derivatives in cash flow hedging relationships
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
Other non-current assets

$
2,072


$
(355
)

$
1,717


Other current liabilities / other liabilities

$
(483
)

$
—


$
(483
)
Cross-currency swaps
Other non-current assets

—


—


—


Other liabilities

(7,640
)

—


(7,640
)
Derivatives in net investment hedging relationships
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cross-currency swaps
Other non-current assets

—


—


—


Other liabilities

(12,120
)

—


(12,120
)
Currency forward contracts
Other non-current assets

—


—


—


Other liabilities

(9,896
)

—


(9,896
)
Total derivatives designated as hedging instruments


$
2,072


$
(355
)

$
1,717




$
(30,139
)

$
—


$
(30,139
)
















Derivatives not designated as hedging instruments















Currency forward contracts
Other current assets / other assets

$
—


$
—


$
—


Other current liabilities / other liabilities

$
(8,033
)

$
3,229


$
(4,804
)
Currency option contracts
Other current assets / other assets
 
—

 
—

 
—

 
Other current liabilities / other liabilities
 
(651
)
 
—

 
(651
)
Total derivatives not designated as hedging instruments


$
—


$
—


$
—




$
(8,684
)

$
3,229


$
(5,455
)
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net
The following table presents the effect of the effective portion of our derivative financial instruments designated as hedging instruments and their classification within comprehensive income (loss) for the years ended June 30, 2018, 2017 and 2016:
Derivatives in Hedging Relationships
Amount of Gain (Loss) Recognized in Comprehensive Income (Loss) on Derivatives
 
Year Ended June 30,
 
2018
 
2017
 
2016
Derivatives in cash flow hedging relationships
 
 
 
 
 
Interest rate swaps
$
8,545

 
$
2,287

 
$
(1,736
)
Cross-currency swaps
2,976

 
(3,584
)
 
(769
)
Derivatives in net investment hedging relationships
 
 
 
 
 
Cross-currency swaps
(1,476
)
 
(3,721
)
 
2,951

Currency forward contracts
(3,490
)
 
(8,362
)
 
(81
)
 
$
6,555

 
$
(13,380
)
 
$
365
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
The following table presents reclassifications out of accumulated other comprehensive loss for the years ended June 30, 2018, 2017 and 2016:
Details about Accumulated Other
Comprehensive Loss Components
Amount of Net Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income
 
Affected line item in the
Statement of Operations
 
Year Ended June 30,
 
 
 
2018
 
2017
 
2016
 
 
Derivatives in cash flow hedging relationships
 
 
 
 
 
 
 
Interest rate swaps
$
70

 
$
(205
)
 
$
(947
)
 
Interest expense, net
Cross-currency swaps
(1,379
)
 
(1,621
)
 
(1,171
)
 
Other (expense) income, net
Total before income tax
(1,309
)
 
(1,826
)
 
(2,118
)
 
Income (loss) before income taxes
Income tax
349

 
457

 
531

 
Income tax expense
Total
$
(960
)
 
$
(1,369
)
 
$
(1,587
)
 
 
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table presents the adjustment to fair value recorded within the consolidated statements of operations for derivative instruments for which we did not elect hedge accounting, as well as the effect of the ineffective portion and de-designated derivative financial instruments that no longer qualify as hedging instruments in the period:
 
Amount of Gain (Loss) Recognized in Net Income (Loss)
 
Location of Gain (Loss) Recognized in Income (Ineffective Portion)
 
Year Ended June 30,
 
 
 
2018
 
2017
 
2016
 
 
Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
Currency contracts
$
(2,942
)
 
$
663

 
$
14,037

 
Other (expense) income, net
Interest rate swaps
255

 
273

 
(11
)
 
Other (expense) income, net
 
$
(2,687
)
 
$
936

 
$
14,026