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Derivatives and Hedging Activities (Tables) | 12 Months Ended
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Jun. 30, 2020
General Discussion of Derivative Instruments and Hedging Activities [Abstract] |
Schedule of 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, |  |  |  |
| 2020 |  | 2019 |  | 2018
| (in thousands) |  |  |  |
Net foreign exchange derivative contract (gain) loss | $ | (3,975) |  |  | $ | 235 |  |  | $ | (436) |
Net foreign currency transactional and re-measurement loss | 4,500 |  |  | 400 |  |  | 1,614 |
Net foreign currency loss | $ | 525 |  |  | $ | 635 |  |  | $ | 1,178 |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The components of the cash flow hedge included in accumulated other comprehensive (loss) income, net of income taxes, in the Consolidated Statements of Shareholders’ Equity, are as follows:
| Fiscal Year Ended June 30, |  |
| 2020 | 2019 | 2018
| (in thousands) |  |
Net interest expense (income) recognized as a result of interest rate swap | $ | 799 |  | $ | (233) |  | $ | 161 |
Unrealized (loss) gain in fair value of interest swap rates | (6,900) |  | (4,159) |  | 1,422 |
Net increase in accumulated other comprehensive (loss) income | (6,101) |  | (4,392) |  | 1,583 |
Income tax effect | 1,455 |  | 1,115 |  | (494) |
Net increase in accumulated other comprehensive (loss) income, net of tax | $ | (4,646) |  | $ | (3,277) |  | $ | 1,089 |
Schedule of Derivative Instruments | The Company has the following derivative instruments for continuing operations located on the Consolidated Balance Sheets as of June 30, 2020, utilized for the risk management purposes detailed above:
| June 30, 2020 |  |  |  |
| Balance Sheet Location |  | Fair Value of Derivatives Designated as Hedge Instruments |  | Fair Value of Derivatives Not Designated as Hedge Instruments
|  |  | (in thousands) |  |
Derivative liabilities: |  |  |  |  |
Foreign exchange contracts | Accrued expenses and other current liabilities |  | $ | — |  |  | $ | 26 |
Interest rate swap agreement | Other current liabilities |  | $ | 9,433 |  |  | $ | — |
The Company has the following derivative instruments located on the Consolidated Balance Sheets as of June 30, 2019, utilized for the risk management purposes detailed above:
| June 30, 2019 |  |  |  |
| Balance Sheet Location |  | Fair Value of Derivatives Designated as Hedge Instruments |  | Fair Value of Derivatives Not Designated as Hedge Instruments
|  |  | (in thousands) |  |
Derivative liabilities: |  |  |  |  |
Foreign exchange contracts | Accrued expenses and other current liabilities |  | $ | — |  |  | $ | 21 |
Interest rate swap agreement | Other current liabilities |  | $ | 3,504 |  |  | $ | — |

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959 + Details
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