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Derivatives and Hedging Activities (Tables)
 3 Months Ended
Sep. 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:

 
Quarter ended
 
September 30,
 
2012
 
2011
 
(in thousands)
Net foreign exchange derivative contract (gains) losses
$
1,223

 
$
1,212

Net foreign currency transactional and re-measurement (gains) losses
(1,150
)
 
2,361

Net foreign currency (gains) losses
$
73

 
$
3,573
Derivative Instruments
The Company has the following derivative instruments located on its condensed consolidated balance sheet, utilized for the risk management purposes detailed above:

 
As of September 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
$
—

 
$
10

Derivative liabilities:(b)
 
 
 
Foreign exchange contracts
$
—

 
$
30

(a)
All derivative assets are recorded as prepaid expenses and other current assets in the condensed consolidated balance sheet.
(b)
All derivative liabilities are recorded as accrued expenses and other current liabilities in the condensed consolidated balance sheet.