XML 56 R38.htm IDEA: XBRL DOCUMENT v3.23.2
Derivatives and Hedging Activities (Tables)
 12 Months Ended
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,
 202320222021
 (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 $845 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The components of the cash flow hedge included in accumulated other comprehensive (loss) income, net of income taxes, in the Consolidated Statements of Shareholders’ Equity, are as follows:
Fiscal Year Ended June 30,
 202320222021
 (in thousands)
Net interest (income) expense recognized as a result of interest rate swap$(1,553)$2,088 $2,250 
Unrealized gain in fair value of interest swap rates4,554 5,748 731 
Net increase in accumulated other comprehensive income (loss)3,001 7,836 2,981 
Income tax effect747 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 LocationFair 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$— $1 
Interest rate swap agreementOther current assets$4,687 $— 
Foreign currency hedgeOther 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 LocationFair Value of  Derivatives
Designated as  Hedge
Instruments		Fair Value of  Derivatives
Not Designated as Hedge
Instruments
 (in thousands)
Derivative assets:
Interest rate swap agreementOther current assets$1,686 $— 
Derivative liabilities:
Foreign exchange contractsAccrued expenses and other current liabilities$— $5 
Foreign currency hedgeOther current liabilities$93 $—