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Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
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Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table presents the fair value of the Company’s derivative financial instrument on a gross basis, as well as its classification on the Company’s consolidated balance sheets as of June 30:
(in thousands) |  | 2021 |  | 2020
Derivatives Designated as Hedging Instruments |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Cash flow hedge |  | Other current liabilities |  | $ | (236) |  |  | Other current liabilities |  | $ | (1,669) |
Schedule of Derivative Instrument (Losses) Gains | The following table presents the unrealized gains (losses) deferred to accumulated other comprehensive income (loss) resulting from the Company’s derivative instruments designated as cash flow hedging instruments as of June 30:
(in thousands) |  | 2021 |  | 2020
Unrealized gain (loss), before taxes |  | $ | 1,251 |  |  | $ | (1,723) |
Income tax (expense) benefit |  | (310) |  |  | 428 |
Unrealized gain (loss), net of taxes |  | $ | 941 |  |  | $ | (1,295) |
The following table presents information about the reclassification of gains and losses from accumulated other comprehensive income (loss) into earnings resulting from the Company’s derivative instruments designated as cash flow hedging instruments as of June 30:
(in thousands) |  | 2021 |  | 2020
Interest expense |  | $ | 721 |  |  | $ | 54 |
Income tax benefit |  | (179) |  |  | (13) |
Net reclassification into earnings |  | $ | 542 |  |  | $ | 41 |
Amounts included in accumulated other comprehensive income (loss) are recorded net of the related income tax effects. The following table details the changes in accumulated other comprehensive income (loss):
(in thousands) |  | Derivative Instruments
Balance at June 30, 2020 |  | $ | (1,254) |
Unrealized gains, net of related tax expense of $0.3 million |  | 941 |
Amount reclassified into earnings, net of related taxes of $0.2 million |  | 542 |
Balance at June 30, 2021 |  | $ | 229 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
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