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Derivatives and Hedging Activities (Tables) | 12 Months Ended
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Jun. 30, 2023
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,
| 2023 |  | 2022 |  | 2021
| (in thousands)
Net foreign exchange derivative contract losses (gains) | $ | 3,928 |  |  | $ | (304) |  |  | $ | 3,462 |
Net foreign currency transactional and re-measurement (gains) losses | (1,760) |  |  | 2,382 |  |  | (2,617) |
Net foreign currency losses | $ | 2,168 |  |  | $ | 2,078 |  |  | $ | 845 |
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,
| 2023 | 2022 | 2021
| (in thousands)
Net interest (income) expense recognized as a result of interest rate swap | $ | (1,553) |  | $ | 2,088 |  | $ | 2,250 |
Unrealized gain in fair value of interest swap rates | 4,554 |  | 5,748 |  | 731 |
Net increase in accumulated other comprehensive income (loss) | 3,001 |  | 7,836 |  | 2,981 |
Income tax effect | 747 |  | 2,003 |  | 732 |
Net increase in accumulated other comprehensive income, net of tax | $ | 2,254 |  | $ | 5,833 |  | $ | 2,249 |
Schedule of Derivative Instruments | The Company has the following derivative instruments for continuing operations located on the Consolidated Balance Sheets as of June 30, 2023, utilized for the risk management purposes detailed above:
| June 30, 2023
| Balance Sheet Location |  | Fair Value of Derivatives Designated as Hedge Instruments |  | Fair Value of Derivatives Not Designated as Hedge Instruments
|  |  | (in thousands)
Derivative assets: |  |  |  |  |
Foreign exchange contracts | Prepaid expenses and other current assets |  | $ | — |  |  | $ | 1 |
Interest rate swap agreement | Other current assets |  | $ | 4,687 |  |  | $ | — |
Foreign currency hedge | Other current assets |  | $ | 100 |  |  | $ | — |
The Company has the following derivative instruments located on the Consolidated Balance Sheets as of June 30, 2022, utilized for the risk management purposes detailed above:
| June 30, 2022
| Balance Sheet Location |  | Fair Value of Derivatives Designated as Hedge Instruments |  | Fair Value of Derivatives Not Designated as Hedge Instruments
|  |  | (in thousands)
Derivative assets: |  |  |  |  |
Interest rate swap agreement | Other current assets |  | $ | 1,686 |  |  | $ | — |
Derivative liabilities: |  |  |  |  |
Foreign exchange contracts | Accrued expenses and other current liabilities |  | $ | — |  |  | $ | 5 |
Foreign currency hedge | Other current liabilities |  | $ | 93 |  |  | $ | — |

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