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Derivatives (Tables)

12 Months Ended

Jun. 30, 2023

Derivatives

Schedule of Derivative Instruments

The following table summarizes the location and fair value amounts of all derivative contracts in the consolidated balance sheets as of June 30, 2023 and 2022 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Derivatives not designated

​

​

​

​

​

​

​

​

as hedging contracts

​

Balance sheet

​

Derivative Contract Assets

​

Balance sheet

​

Derivative Contract Liabilities

under ASC 815

location

June 30, 2023

June 30, 2022

location

June 30, 2023

June 30, 2022

Commodity contracts

​

Current assets - derivative contract assets

​

$

—

​

$

170

​

Current liabilities - derivative contract liabilities

​

$

—

​

$

2,164

Commodity contracts

​

Other assets - derivative contract assets

​

​

—

​

​

—

​

Long term liabilities - derivative contract liabilities

​

​

—

​

​

—

Total derivatives not designated as hedging contracts under ASC 815

​

​

​

$

—

​

$

170

​

​

​

$

—

​

$

2,164

Derivative Instruments, Gain (Loss)

​

​	​	​	​	​	​	​	​	​
Derivatives not designated	​	Location of gain (loss)	​	​	​	​	​	​
as hedging contracts	​	recognized in income on	​	Years Ended June 30,
under ASC 815		derivative contracts	​	2023			2022
Commodity contracts:	​	​	​	​	​	​	​	​
Realized gain (loss) on derivative contracts	​	Other income and expenses - net gain (loss) on derivative contracts	​	$	(1,481)	​	$	(1,769)
Unrealized gain (loss) on derivative contracts	​	Other income and expenses - net gain (loss) on derivative contracts	​	​	1,994	​	​	(1,994)
Total net gain (loss) on derivative contracts	​	​	​	$	513	​	$	(3,763)

Offsetting Assets

The following table shows the potential effects of master netting arrangements on the fair value of the Company’s derivative contracts as of June 30, 2022 (in thousands):

​

​	​	​	​	​	​	​
​	​	Derivative Contracts Assets		​	Derivative Contracts Liabilities
Offsetting of Derivative Assets and Liabilities		June 30, 2022			June 30, 2022
Gross amounts presented in the Consolidated Balance Sheet	​	$	170	​	$	2,164
Amounts not offset in the Consolidated Balance Sheet	​	​	(170)	​	​	(170)
Net amount	​	$	—	​	$	1,994

Offsetting Liabilities

The following table shows the potential effects of master netting arrangements on the fair value of the Company’s derivative contracts as of June 30, 2022 (in thousands):

​

​	​	​	​	​	​	​
​	​	Derivative Contracts Assets		​	Derivative Contracts Liabilities
Offsetting of Derivative Assets and Liabilities		June 30, 2022			June 30, 2022
Gross amounts presented in the Consolidated Balance Sheet	​	$	170	​	$	2,164
Amounts not offset in the Consolidated Balance Sheet	​	​	(170)	​	​	(170)
Net amount	​	$	—	​	$	1,994

​

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