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Derivative Financial Instruments (Tables) | 9 Months Ended
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Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments | As of March 31, 2019, we had ten 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 March 31, 2019 |  | $ | 440,000 |
Contracts with a future start date |  | 90,000 |
Total |  | $ | 530,000 |
As of March 31, 2019, 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
$719,830 |  | December 2017 through March 2019 |  | Various dates through March 2021 |  | 550 |  | Various
Derivative Instruments in Statement of Financial Position, Fair Value | The table below presents the fair value of our derivative financial instruments as well as their classification on the balance sheet as of March 31, 2019 and June 30, 2018. Our derivative asset and liability balances will fluctuate with interest rate and currency exchange rate volatility.
| March 31, 2019
| 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 |  | $ | 2,329 |  |  | $ | — |  |  | $ | 2,329 |  |  | Other current liabilities / other liabilities |  | $ | (3,378 | ) |  | $ | 155 |  |  | $ | (3,223 | )
Cross-currency swaps | Other current assets |  | — |  |  | — |  |  | — |  |  | Other current liabilities |  | (3,839 | ) |  | — |  |  | (3,839 | )
Derivatives in net investment hedging relationships |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Currency forward contracts | Other non-current assets |  | 4,194 |  |  | — |  |  | 4,194 |  |  | Other current liabilities / other liabilities |  | (2,250 | ) |  | 637 |  |  | (1,613 | )
Total derivatives designated as hedging instruments |  |  | $ | 6,523 |  |  | $ | — |  |  | $ | 6,523 |  |  |  |  | $ | (9,467 | ) |  | $ | 792 |  |  | $ | (8,675 | )
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cross-currency swaps | Other current assets |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | Other current liabilities |  | $ | (7,512 | ) |  | $ | — |  |  | $ | (7,512 | )
Currency forward contracts | Other current assets / other assets |  | 12,385 |  |  | (4,096 | ) |  | 8,289 |  |  | Other current liabilities / other liabilities |  | (545 | ) |  | 301 |  |  | (244 | )
Currency option contracts | Other current assets / other assets |  | 6,238 |  |  | — |  |  | 6,238 |  |  | Other current liabilities / other liabilities |  | — |  |  | — |  |  | — |
Total derivatives not designated as hedging instruments |  |  | $ | 18,623 |  |  | $ | (4,096 | ) |  | $ | 14,527 |  |  |  |  | $ | (8,057 | ) |  | $ | 301 |  |  | $ | (7,756 | )
| 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 non-current assets |  | $ | 13,374 |  |  | $ | (4 | ) |  | $ | 13,370 |  |  | Other current liabilities / other liabilities |  | $ | — |  |  | $ | — |  |  | $ | — |
Cross-currency swaps | Other non-current assets |  | — |  |  | — |  |  | — |  |  | Other liabilities |  | (10,659 | ) |  | — |  |  | (10,659 | )
Derivatives in net investment hedging relationships |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cross-currency swaps | Other non-current assets |  | — |  |  | — |  |  | — |  |  | Other liabilities |  | (14,689 | ) |  | — |  |  | (14,689 | )
Currency forward contracts | Other non-current assets |  | — |  |  | — |  |  | — |  |  | 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 | )
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 three and nine months ended March 31, 2019 and 2018:
| Amount of Gain (Loss) Recognized in Comprehensive Income (Loss) on Derivatives (Effective Portion)
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2019 |  | 2018 |  | 2019 |  | 2018
Derivatives in cash flow hedging relationships |  |  |  |  |  |  |
Interest rate swaps | $ | (6,102 | ) |  | $ | 6,087 |  |  | $ | (10,916 | ) |  | $ | 7,330 |
Cross-currency swaps | (1,273 | ) |  | 2,321 |  |  | (2,656 | ) |  | 5,492 |
Derivatives in net investment hedging relationships |  |  |  |  |  |  |
Cross-currency swaps | 1,542 |  |  | (3,873 | ) |  | 6,557 |  |  | (10,307 | )
Currency forward contracts | 7,050 |  |  | (5,576 | ) |  | 14,369 |  |  | (13,935 | )
Total | $ | 1,217 |  |  | $ | (1,041 | ) |  | $ | 7,354 |  |  | $ | (11,420 | )
Reclassification out of Accumulated Other Comprehensive Income | The following table presents reclassifications out of accumulated other comprehensive loss for the three and nine months ended March 31, 2019 and 2018:
| Amount of Net Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income |  | Affected line item in the Statement of Operations
| Three Months Ended March 31, |  | Nine Months Ended March 31, |  |
| 2019 |  | 2018 |  | 2019 |  | 2018 |  |
Derivatives in cash flow hedging relationships |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | (314 | ) |  | $ | 100 |  |  | $ | (105 | ) |  | $ | (6 | ) |  | Interest expense, net
Cross-currency swaps | 2,146 |  |  | (3,321 | ) |  | 5,920 |  |  | (8,756 | ) |  | Other (expense) income, net
Total before income tax | 1,832 |  |  | (3,221 | ) |  | 5,815 |  |  | (8,762 | ) |  | Income before income taxes
Income tax | (458 | ) |  | 805 |  |  | (1,454 | ) |  | 2,212 |  |  | Income tax expense (benefit)
Total | $ | 1,374 |  |  | $ | (2,416 | ) |  | $ | 4,361 |  |  | $ | (6,550 | ) |  |
Derivatives Not Designated as Hedging Instruments | 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) |  | Affected line item in the Statement of Operations
| Three Months Ended March 31, |  | Nine Months Ended March 31, |  |
| 2019 |  | 2018 |  | 2019 |  | 2018 |  |
Currency contracts | $ | 1,258 |  |  | $ | (9,103 | ) |  | $ | 19,802 |  |  | $ | (19,382 | ) |  | Other (expense) income, net
Interest rate swaps | 29 |  |  | 1 |  |  | (185 | ) |  | 279 |  |  | Other (expense) income, net
Total | $ | 1,287 |  |  | $ | (9,102 | ) |  | $ | 19,617 |  |  | $ | (19,103 | ) |  |

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