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Derivatives and Hedging Activities (Tables)
 12 Months Ended
Jun. 30, 2012
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Derivative Contracts and Changes in Underlying Value of the Foreign Currency Exposures
Summarized financial information related to these derivative contracts and changes in the underlying value of the foreign currency exposures are as follows:
 
Fiscal Year Ended June 30,
 
2012
 
2011
 
2010
 
(in thousands)
Net foreign exchange derivative contract gain (loss)
$
(1,480
)
 
$
(2,706
)
 
$
(1,065
)
Net foreign currency transactional and re-measurement gain (loss)
$
(2,286
)
 
$
1,741

 
$
826

Net foreign currency gain (loss)
$
(3,766
)
 
$
(965
)
 
$
(239
)
Components of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (loss)
The components of the cash flow hedge included in accumulated other comprehensive income (loss), net of income taxes, in the consolidated statements of shareholders’ equity, are as follows:
 
Fiscal Year Ended June 30,
 
2012
 
2011
 
(in thousands)
Net interest expense recognized as a result of interest rate swap
$
216

 
$
859

Unrealized gain (loss) in fair value of interest swap rates
(1
)
 
(119
)
Net increase (decrease) in accumulated other comprehensive income (loss)
$
215

 
$
740

Income tax effect
(76
)
 
(272
)
Net increase (decrease) in accumulated other comprehensive income (loss), net of tax
$
139

 
$
468
Derivative Instruments
The Company has the following derivative instruments located on the Consolidated Balance Sheets and Income Statements, utilized for the risk management purposes detailed above:
 
As of June 30, 2012
 
Fair Value of  Derivatives
Designated as Hedge
Instruments
 
Fair Value of  Derivatives
Not Designated as Hedge
Instruments
 
(in thousands)
Derivative assets:(a)
 
 
 
Foreign exchange contracts
$
—

 
$
21

Derivative liabilities:(b)
 
 
 
Foreign exchange contracts
$
—

 
$
110


(a)
All derivative assets are recorded as prepaid expense and other assets in the Consolidated Balance Sheets.
(b)
All derivative liabilities are recorded as accrued expenses and other liabilities in the Consolidated Balance Sheets.