XML 50 R32.htm IDEA: XBRL DOCUMENT v3.7.0.1
Derivatives and Hedging Activities (Tables)
 12 Months Ended
Jun. 30, 2017
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,
 
2017
 
2016
 
2015
 
(in thousands)
Net foreign exchange derivative contract (gain) loss
$
146

 
$
(1,951
)
 
$
(5,364
)
Net foreign currency transactional and re-measurement (gain) loss
1,773

 
4,522

 
8,408

Net foreign currency (gain) loss
$
1,919

 
$
2,571

 
$
3,044
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, 2017
 
(in thousands)
Net interest expense recognized as a result of interest rate swap
$
7

Unrealized gain (loss) in fair value of interest swap rates
14

Net increase (decrease) in accumulated other comprehensive income (loss)
$
21

Income tax effect
8

Net increase (decrease) in accumulated other comprehensive income (loss), net of tax
$
13
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:

 
June 30, 2017
 
Balance Sheet Location
 
Fair Value of  Derivatives
Designated as  Hedge
Instruments
 
Fair Value of  Derivatives
Not Designated as Hedge
Instruments
 
 
 
(in thousands)
Derivative assets:
 
 
 
 
 
Foreign exchange contracts
Prepaid expenses and other current assets
 
$
—

 
$
35

Interest rate swap agreement
Other non-current assets
 
$
21

 
$
—

Derivative liabilities:
 
 
 
 
 
Foreign exchange contracts
Accrued expenses and other current liabilities
 
$
—

 
$
131