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Derivatives and Hedging Activities (Tables)
 9 Months Ended
Mar. 31, 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:
 
Quarter ended
 
Nine months ended
 
March 31,
 
March 31,
 
2017
 
2016
 
2017
 
2016
 
(in thousands)
Net foreign exchange derivative contract (gains) losses
$
735

 
$
286

 
$
(225
)
 
$
(2,014
)
Net foreign currency transactional and re-measurement (gains) losses
(24
)
 
67

 
1,856

 
3,622

Net foreign currency (gains) losses
$
711

 
$
353

 
$
1,631

 
$
1,608
Derivative Instruments
The Company used the following derivative instruments, reflected in its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above:
 
As of March 31, 2017
 
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
$
—

 
$
614

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

 
$
274

(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.