XML 46 R31.htm IDEA: XBRL DOCUMENT v3.21.1
Derivatives and Hedging Activities (Tables)
 9 Months Ended
Mar. 31, 2021
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 included in the Condensed Consolidated Income Statements for the quarters and nine months ended March 31, 2021 and 2020 are as follows:
 Quarter endedNine months ended
March 31,March 31,
 2021202020212020
 (in thousands)
Net foreign exchange derivative contract (gains) losses$(1,061)$(3,264)$852 $(3,749)
Net foreign currency transactional and re-measurement losses (gains)1,020 3,168 (74)3,835 
Net foreign currency exchange (gains) losses$(41)$(96)$778 $86 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The components of the cash flow hedge included in the Condensed Consolidated Statement of Comprehensive Income for the quarters and nine months ended March 31, 2021 and 2020, are as follows:
Quarter endedNine months ended
March 31,March 31,
 2021202020212020
(in thousands)
Net interest expense recognized as a result of interest rate swap$557 $180 $1,682 $343 
Unrealized gain (loss) in fair value of interest rate swap1,549 (5,518)1,281 (5,890)
Net increase (decrease) in accumulated other comprehensive income2,106 (5,338)2,963 (5,547)
Income tax effect524 (1,292)754 (1,330)
Net increase (decrease) in accumulated other comprehensive income, net of tax$1,582 $(4,046)$2,209 $(4,217)
Schedule of Derivative Instruments
The Company used the following derivative instruments at March 31, 2021 and June 30, 2020, reflected in its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above:

 March 31, 2021June 30, 2020
 Balance Sheet LocationFair Value  of
Derivatives
Designated 
as Hedge Instruments		Fair Value  of
Derivatives
Not Designated as  Hedge Instruments		Fair Value  of
Derivatives
Designated
as Hedge Instruments		Fair Value  of
Derivatives
Not Designated as Hedge Instruments
 (in thousands)
Derivative liabilities:
Foreign exchange contractsAccrued expenses and other current liabilities$— $45 $— $26 
Foreign currency hedgeAccrued expenses and other current liabilities$275 $— $— $— 
Interest rate swap agreementOther long-term liabilities$6,340 $— $9,433 $—