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Fair Value of Financial Instruments
 12 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
Accounting guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Under this guidance, the Company is required to
classify certain assets and liabilities based on the fair value hierarchy, which groups fair value-measured assets and liabilities based upon the following levels of inputs:

•Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
•Level 2 – Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability;
•Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity).

The assets and liabilities maintained by the Company that are required to be measured at fair value on a recurring basis include deferred compensation plan investments, forward foreign currency exchange contracts, foreign currency hedge agreements, interest rate swap agreements and contingent consideration owed to the previous owners of Intelisys. The carrying value of debt listed in Note 8 - Short-Term Borrowings and Long Term Debt is considered to approximate fair value, as the Company's debt instruments are indexed to a variable rate using the market approach (Level 2 criteria).

The following table summarizes the valuation of the Company's remaining assets and liabilities measured at fair value on a recurring basis as of June 30, 2024:
TotalQuoted
prices  in
active
markets
(Level  1)		Significant
other
observable
inputs
(Level 2)
(in thousands)
Assets:
Deferred compensation plan investments, current and non-current portion$31,014 $31,014 $— 
Interest rate swap agreement2,698 — 2,698 
Foreign currency hedge345 — 345 
Total assets at fair value$34,057 $31,014 $3,043 
Liabilities:
Deferred compensation plan investments, current and non-current portion$31,014 $31,014 $— 
Forward foreign currency exchange contracts12 — 12 
Total liabilities at fair value$31,026 $31,014 $12 

The following table presents assets and liabilities measured at fair value on a recurring basis as of June 30, 2023:
TotalQuoted
prices  in
active
markets
(Level  1)		Significant
other
observable
inputs
(Level 2)
(in thousands)
Assets:
Deferred compensation plan investments, current and non-current portion$28,209 $28,209 $— 
Forward currency exchange contracts1 — $1 
Interest rate swap agreement4,687 — 4,687 
Foreign currency hedge100 — $100 
Total assets at fair value$32,997 $28,209 $4,788 
Liabilities:
Deferred compensation plan investments, current and non-current portion$28,229 $28,229 $— 
Total liabilities at fair value$28,229 $28,229 $— 

The investments in the deferred compensation plan are held in a "rabbi trust" and include mutual funds and cash equivalents for payment of non-qualified benefits for certain retired, terminated or active employees. These investments are recorded to prepaid and other current assets or other non-current assets depending on their corresponding, anticipated distributions to recipients, which are reported in accrued expenses and other current liabilities or other long-term liabilities, respectively.

Derivative instruments, such as foreign currency forward contracts, are measured using the market approach on a recurring basis considering foreign currency spot rates and forward rates quoted by banks or foreign currency dealers and interest rates quoted by banks (Level 2). Fair values of interest rate swaps are measured using standard valuation models with inputs that can be derived from observable market transactions, including LIBOR spot and forward rates (Level 2). Foreign currency contracts and interest rate swap agreements are classified in the Consolidated Balance Sheet as prepaid expenses and other current assets or accrued expenses and other current liabilities, depending on the respective instruments' favorable or unfavorable positions. See Note 9 - Derivatives and Hedging Activities.