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Derivatives and Hedging Activities (Tables)
3 Months Ended
Sep. 30, 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 ended September 30, 2021 and 2020 are as follows:
 Quarter ended
September 30,
 20212020
 (in thousands)
Net foreign exchange derivative contract (gains) losses$(1,651)$95 
Net foreign currency transactional and re-measurement losses2,136 343 
Net foreign currency exchange losses$485 $438 
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 ended September 30, 2021 and 2020, are as follows:
Quarter ended
September 30,
 20212020
(in thousands)
Net interest expense recognized as a result of interest rate swap$580 $560 
Unrealized loss in fair value of interest rate swap(15)(402)
Net increase in accumulated other comprehensive income565 158 
Income tax effect152 49 
Net increase in accumulated other comprehensive income, net of tax$413 $109 
Schedule of Derivative Instruments The Company used the following derivative instruments at September 30, 2021 and June 30, 2021, reflected in its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above:
 September 30, 2021June 30, 2021
 Balance Sheet LocationFair Value  of
Derivatives
Designated 
as Hedge Instruments
Fair Value  of
Derivatives
Not Designated as  Hedge Instruments
Fair Value  of
Derivatives
Designated
as Hedge Instruments
Fair Value  of
Derivatives
Not Designated as Hedge Instruments
 (in thousands)
Derivative assets:
Foreign exchange contractsPrepaid expenses and other current assets$ $5 $— $— 
Foreign currency hedgePrepaid expenses and other current assets$268 $ $187 $— 
Derivative liabilities:
Foreign exchange contractsAccrued expenses and other current liabilities$ $ $— $
Interest rate swap agreementOther long-term liabilities$5,675 $ $6,280 $—