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Derivatives and Hedging Activities (Tables)
 9 Months Ended
Mar. 31, 2015
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
 
Nine months ended
 
March 31,
 
March 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
Net foreign exchange derivative contract (gains) losses
$
(3,255
)
 
$
114

 
$
(6,741
)
 
$
2,511

Net foreign currency transactional and re-measurement (gains) losses
4,881

 
(57
)
 
9,347

 
(2,185
)
Net foreign currency (gains) losses
$
1,626

 
$
57

 
$
2,606

 
$
326
Derivative Instruments
The Company used the following derivative instruments, located on its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above:
 
As of March 31, 2015
 
Fair Value  of
Derivatives
Designated as Hedge
Instruments
 
Fair Value  of
Derivatives
Not Designated as Hedge
Instruments
 
(in thousands)
Derivative assets:(a)
 
 
 
Forward foreign currency exchange contracts
$
—

 
$
9

Cross currency swap agreements
$
—

 
$
651

Derivative liabilities:(b)
 
 
 
Forward foreign currency exchange contracts
$
—

 
$
571

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