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STOCKHOLDERS' EQUITY | 12 Months Ended
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Jun. 30, 2022
Equity [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS’ EQUITY Preferred Stock The Company is authorized to issue “blank check” preferred stock of up to 5,000 shares with such designations, rights and preferences as may be determined from time to time by the Board of Directors. Accordingly, the Board of Directors is empowered to issue, without stockholder approval, preferred stock with dividends, liquidation, conversion, voting or other rights which could decrease the amount of earnings and assets available for distribution to holders of the Company’s common stock. At June 30, 2022 and 2021, no prefer red stock was issued or outstanding. Accumulated Other Comprehensive Loss The following table presents the changes in accumulated other comprehensive loss (“AOCL”):
| Fiscal Year Ended June 30,
| 2022 |  | 2021
Foreign currency translation adjustments: |  |  |
Other comprehensive (loss) income before reclassifications | $ | (102,113) |  |  | $ | 85,581 |
Amounts reclassified into income (1) | — |  |  | 16,073 |
Deferred gains (losses) on cash flow hedging instruments: |  |  |
Amount of gain (loss) recognized in AOCL on derivatives | 3,511 |  |  | (810) |
Amount of gain (loss) reclassified from AOCL into income (expense) (2) | (2,711) |  |  | 1,290 |
Deferred gains (losses) on fair value hedging instruments: |  |  |
Amount of gain recognized in AOCL on derivatives | 559 |  |  | — |
Amount of gain reclassified from AOCL into income | (59) |  |  | — |
Deferred gain (losses) on net investment hedging instruments: |  |  |
Amount of gain (loss) recognized in AOCL on derivatives | 9,954 |  |  | (3,359) |
Amount of gain reclassified from AOCL into income (3) | (612) |  |  | (394) |
Net change in AOCL | $ | (91,471) |  |  | $ | 98,381 |
(1)Foreign currency translation gains or losses of foreign subsidiaries related to divested businesses are reclassified into income once the liquidation of the respective foreign subsidiaries is substantially complete. At the completion of the sales of Danival, Fruit and GG UniqueFiber®, the Company reclassified 16,073 of translations from AOCL to the Company's results of operation s. (2)Amounts reclassified into income (expense) for deferred gains (losses) on cash flow hedging instruments are recorded on the Consolidated Statements of Operations as follows:
| Fiscal Year Ended June 30,
| 2022 |  | 2021
Cost of sales | $ | 108 |  |  | $ | 68 |
Interest and other financing expense, net | $ | 105 |  |  | $ | (150) |
Other expense (income), net | $ | 3,218 |  |  | $ | (1,556) |
(3)Amounts reclassified into income for deferred gains on net investment hedging instruments are recognized in “interest and other financing expense, net” in the Consolidated Statements of Operations and were $772 and $498 for the fiscal years ended June 30, 2022 and 2021, respectively. Share Repurchase Program In June 2017, August 2021 and January 2022, the Company's Board of Directors authorized the repurchase of up to $250,000, $300,000 and $200,000 of the Company’s issued and outstanding common stock, respectively. Share repurchases under each of the 2021 and 2022 authorizations commenced after the previous authorizations were fully utilized. Repurchases may be made from time to time in the open market, pursuant to pre-set trading plans, in private transactions or otherwise. The current 2022 authorization does not have a stated expiration date. The extent to which the Company repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations. In November 2021, the Company entered into a share repurchase agreement with affiliates of Engaged Capital, LLC (collectively, the “Selling Stockholders”), pursuant to which the Company repurchased 1,700 shares directly from the Selling Stockholders at a price of $45.00 per share (see Note 21, Related Party Transactions). During the fiscal year ended June 30, 2022, the Company repurchased 10,626 shares under the repurchase program, inclusive of the shares repurchased from the Selling Stockholders, for a total of $408,886, excluding commissions, at an average price of $38.48 per share. As of June 30, 2022, the Company had $173,514 of remaining authorization under the share repurchase program. During the fiscal year ended June 30, 2021, the Company repurchased 3,080 shares under the repurchase program for a total of $107,421, excluding commissions, at an average price of $34.87 per share. Of that amount, $1,415 was included in accrued expenses and other current liabilities on the Consolidated Balance Sheet as of June 30, 2021 pending settlement of trade.

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