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DERIVATIVES AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
As of September 30, 2021, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

Interest Rate DerivativeNumber of InstrumentsNotional Amount
Interest Rate Swap4$230,000
As of September 30, 2021, the Company had the following outstanding foreign currency derivatives that were used to hedge its foreign exchange risks:

Foreign Currency DerivativeNumber of InstrumentsNotional SoldNotional Purchased
Cross-currency swap1€24,700$26,775
Foreign currency forward contract6£5,142€6,000
As of September 30, 2021, the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations:

Foreign Currency DerivativeNumber of InstrumentsNotional SoldNotional Purchased
Cross-currency swap2€76,969$83,225
Derivative Financial Instruments and Classification on Consolidated Balance Sheets The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheet as of September 30, 2021:
Asset DerivativesLiability Derivatives
Balance Sheet LocationFair ValueBalance Sheet LocationFair Value
Derivatives designated as hedging instruments:
Interest rate swapsPrepaid expenses and other current assets$49 Accrued expenses and other current liabilities / Other noncurrent liabilities$330 
Cross-currency swapsPrepaid expenses and other current assets697 Other noncurrent liabilities8,677 
Total derivatives designated as hedging instruments$746 $9,007 


The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheet as of June 30, 2021:
Asset DerivativesLiability Derivatives
Balance Sheet LocationFair ValueBalance Sheet LocationFair Value
Derivatives designated as hedging instruments:
Interest rate swapsPrepaid expenses and other current assets$43 Accrued expenses and other current liabilities / Other noncurrent liabilities$312 
Cross-currency swapsPrepaid expenses and other current assets656 Other noncurrent liabilities11,656 
Total derivatives designated as hedging instruments$699 $11,968 
Pre-Tax Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss
The following table presents the pre-tax effect of cash flow hedge accounting on AOCL as of September 30, 2021 and 2020:

Derivatives in Cash Flow Hedging RelationshipsAmount of Gain (Loss) Recognized in AOCL on DerivativesLocation of Gain (Loss) Reclassified from AOCL into IncomeAmount of Gain (Loss) Reclassified from AOCL into Income
Three Months Ended September 30,Three Months Ended September 30,
2021202020212020
Interest rate swaps$(117)$61 Interest and other financing expense, net$(104)$(58)
Cross-currency swaps776 (1,177)Interest and other financing expense, net / Other expense (income), net738 (1,183)
Foreign currency forward contracts19 (2)Cost of sales— 73 
Total$678 $(1,118)$634 $(1,168)
Pre-Tax Effect of Derivative Financial Instruments Electing Cash Flow Hedge Accounting on Consolidated Statements of Operations
The following table presents the pre-tax effect of the Company’s derivative financial instruments electing cash flow hedge accounting on the Consolidated Statements of Operations as of September 30, 2021 and 2020:
Location and Amount of Gain (Loss) Recognized in the Consolidated Statement of Operations on Cash Flow Hedging Relationships
Three Months Ended September 30, 2021Three Months Ended September 30, 2020
Cost of salesInterest and other financing expense, netOther expense (income), netCost of salesInterest and other financing expense, netOther expense (income), net
The effects of cash flow hedging:
Gain (loss) on cash flow hedging relationships
Interest rate swaps
Amount of loss reclassified from AOCL into income$— $(104)$— $— $(58)$— 
Cross-currency swaps
Amount of gain (loss) reclassified from AOCL into income$— $41 $697 $— $41 $(1,224)
Foreign currency forward contracts
Amount of gain reclassified from AOCL into income$— $— $— $73 $— $— 
Pre-Tax Effect of Net Investment Hedges on Accumulated Other Comprehensive Loss and the Consolidated Statements of Operations
The following table presents the pre-tax effect of the Company’s net investment hedges on AOCL and the Consolidated Statements of Operations as of September 30, 2021 and 2020:
Derivatives in Net Investment Hedging RelationshipsAmount of Gain (Loss) Recognized in AOCL on DerivativesLocation of Gain (Loss) Recognized in Income on DerivativesAmount of Gain (Loss) Recognized in Income on Derivatives
Three Months Ended September 30,Three Months Ended September 30,
2021202020212020
Cross-currency swaps$2,417 $(3,658)Interest and other financing expense, net$130 $129 
Pre-Tax Effect of Derivative Financial Instruments Not Designated as Hedging Instruments on the Consolidated Statements of Operations
The following table presents the effect of the Company’s derivative financial instruments that are not designated as hedging instruments on the Consolidated Statements Operations as of September 30, 2021 and 2020:

Derivatives Not Designated as Hedging InstrumentsLocation of Gain (Loss) Recognized in Income on DerivativeAmount of Gain (Loss) Recognized in Income on Derivatives
Three Months Ended September 30,
20212020
Foreign currency forward contractsOther expense (income), net$— $124