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Derivatives and Hedging Activities (Tables)
3 Months Ended
Sep. 30, 2022
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, 2022 and 2021 are as follows:
 Quarter ended
September 30,
 20222021
 (in thousands)
Net foreign exchange derivative contract losses (gains)$438 $(1,651)
Net foreign currency transactional and re-measurement losses484 2,136 
Net foreign currency exchange losses$922 $485 
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, 2022 and 2021, are as follows:
Quarter ended
September 30,
 20222021
(in thousands)
Net interest expense recognized as a result of interest rate swap$32 $580 
Unrealized gain (loss) in fair value of interest rate swap2,500 (15)
Net increase in accumulated other comprehensive income2,532 565 
Income tax effect653 152 
Net increase in accumulated other comprehensive income, net of tax$1,879 $413 
Schedule of Derivative Instruments
The Company used the following derivative instruments at September 30, 2022 and June 30, 2022, reflected in its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above:

 September 30, 2022June 30, 2022
 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$ $4 $— $— 
Foreign currency hedgePrepaid expenses and other current assets$8 $ $— $— 
Interest rate swap agreementOther non-current assets$4,218 $ $1,686 $— 
Derivative liabilities:
Foreign exchange contractsAccrued expenses and other current liabilities$ $ $— $
Foreign currency hedgeAccrued expenses and other current liabilities$ $ $93 $—