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Derivatives and Hedging Activities (Tables)
6 Months Ended
Dec. 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 six months ended December 31, 2021 and 2020 are as follows:
 Quarter endedSix months ended
December 31,December 31,
 2021202020212020
 (in thousands)
Net foreign exchange derivative contract (gains) losses$(523)$1,818 $(2,175)$1,913 
Net foreign currency transactional and re-measurement (gains) losses1,003 (1,437)3,141 (1,094)
Net foreign currency exchange losses$480 $381 $966 $819 
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 six months ended December 31, 2021 and 2020, are as follows:
Quarter endedSix months ended
December 31,December 31,
 2021202020212020
(in thousands)
Net interest expense recognized as a result of interest rate swap$579 $565 $1,157 $1,125 
Unrealized gain (loss) in fair value of interest rate swap999 135 983 (268)
Net increase in accumulated other comprehensive income1,578 700 2,140 857 
Income tax effect406 181 555 229 
Net increase in accumulated other comprehensive income, net of tax$1,172 $519 $1,585 $628 
Schedule of Derivative Instruments The Company used the following derivative instruments at December 31, 2021 and June 30, 2021, reflected in its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above:
 December 31, 2021June 30, 2021
 Balance Sheet LocationFair Value  of
Derivatives
Designated 
as Hedge Instruments
Fair Value  of
Derivatives
Not Designated as  Hedge Instruments
Fair Value  of
Derivatives
Designated
as Hedge Instruments
Fair Value  of
Derivatives
Not Designated as Hedge Instruments
 (in thousands)
Derivative assets:
Foreign currency hedgePrepaid expenses and other current assets$ $ $187 $— 
Derivative liabilities:
Foreign exchange contractsAccrued expenses and other current liabilities$ $55 $— $
Foreign currency hedgeAccrued expenses and other current liabilities$283 $ $— $— 
Interest rate swap agreementOther long-term liabilities$4,054 $ $6,280 $—