XML 44 R30.htm IDEA: XBRL DOCUMENT v3.23.3
Derivatives and Hedging Activities (Tables)
 3 Months Ended
Sep. 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 included in the Condensed Consolidated Income Statements for the quarter ended September 30, 2023 and 2022 are as follows:
 Quarter ended
September 30,
 20232022
 (in thousands)
Net foreign exchange derivative contract (gains) losses$(368)$438 
Net foreign currency transactional and re-measurement losses1,064 484 
Net foreign currency exchange losses$696 $922 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The components of the cash flow hedge included in the Condensed Consolidated Statement of Comprehensive Income for the quarter ended September 30, 2023 and 2022, are as follows:
Quarter ended
September 30,
 20232022
(in thousands)
Net interest (income) expense recognized as a result of interest rate swap$(759)$32 
Unrealized gain in fair value of interest rate swap974 2,500 
Net increase in accumulated other comprehensive income215 2,532 
Income tax effect62 653 
Net increase in accumulated other comprehensive income, net of tax$153 $1,879 
Schedule of Derivative Instruments The Company used the following derivative instruments at September 30, 2023 and June 30, 2023, reflected in its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above:
 September 30, 2023June 30, 2023
 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— $27— $1
Foreign currency hedgePrepaid expenses and other current assets— — $100— 
Interest rate swap agreementOther non-current assets$4,902— $4,687— 
Derivative liabilities:
Foreign currency hedgeAccrued expenses and other current liabilities$108— — —