XML 41 R31.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Derivative Instruments (Tables) | 6 Months Ended
--- | ---
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the notional volumes for the coffee-related derivative instruments held by the Company at December 31, 2021 and June 30, 2021:
(In thousands) |  | December 31, 2021 |  | June 30, 2021
Derivative instruments designated as cash flow hedges: |  |  |  |
Long coffee pounds |  | 14,663 |  |  | 14,625 |
Derivative instruments not designated as cash flow hedges: |  |  |  |
Long coffee pounds |  | 2,921 |  |  | 6,886 |
Total |  | 17,584 |  |  | 21,511 |
Schedule of Fair Values of Derivative Instruments on the Consolidated Balance Sheets | Fair values of derivative instruments on the Company’s consolidated balance sheets:
|  | Derivative Instruments Designated as Cash Flow Hedges |  | Derivative Instruments Not Designated as Accounting Hedges
(In thousands) |  | December 31, 2021 |  | June 30, 2021 |  | December 31, 2021 |  | June 30, 2021
Financial Statement Location: |  |  |  |  |  |  |  |
Short-term derivative assets: |  |  |  |  |  |  |  |
Coffee-related derivative instruments |  | $ | 8,783 |  |  | $ | 3,823 |  |  | $ | 1,238 |  |  | $ | 528 |
Long-term derivative assets: |  |  |  |  |  |  |  |
Coffee-related derivative instruments (1) |  | — |  |  | 292 |  |  | — |  |  | — |
Short-term derivative liabilities: |  |  |  |  |  |  |  |
Coffee-related derivative instruments |  | 25 |  |  | 20 |  |  | 788 |  |  | 3 |
Interest rate swap derivative instruments |  | — |  |  | — |  |  | 1,331 |  |  | 1,532 |
Long-term derivative liabilities: |  |  |  |  |  |  |  |
Coffee-related derivative instruments (2) |  | — |  |  | — |  |  | — |  |  | — |
Interest rate swap derivative instruments (2) |  | — |  |  | — |  |  | 710 |  |  | 1,653 |
________________ (1) Included in “Other assets” on the Company's consolidated balance sheets. (2) Included in “Other long-term liabilities” on the Company's consolidated balance sheets.
Schedule of Pretax Effect of Derivative Instruments on Earnings and OCI | The following table presents pretax net gains and losses for the Company's derivative instruments designated as cash flow hedges, as recognized in “AOCI,” “Cost of goods sold” and “Other, net”.
|  | Three Months Ended December 31, |  | Six Months Ended December 31, |  | Financial Statement Classification
(In thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020 |
Net losses recognized in AOCI - Interest rate swap |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (304) |  |  | AOCI
Net losses recognized from AOCI to earnings - Interest rate swap |  | (4) |  |  | (9) |  |  | (4) |  |  | (344) |  |  | Interest Expense
Net losses reclassified from AOCI to earnings for de-designated Interest rate swap |  | (304) |  |  | (320) |  |  | (618) |  |  | (659) |  |  | Interest Expense
Net gains (losses) recognized in AOCI - Coffee-related |  | 5,132 |  |  | 3,101 |  |  | 10,991 |  |  | 7,366 |  |  | AOCI
Net gains (losses) recognized in earnings - Coffee - related |  | 3,712 |  |  | 240 |  |  | 5,632 |  |  | 604 |  |  | Cost of goods sold
Schedule of Net Realized and Unrealized Gains and Losses Recorded in 'Other, net' | Net gains and losses recorded in “Other, net” are as follows:
|  | Three Months Ended December 31, |  | Six Months Ended December 31,
(In thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Net gains on coffee-related derivative instruments(1) |  | $ | 872 |  |  | $ | 1,338 |  |  | $ | 2,422 |  |  | $ | 1,834 |
Non-operating pension and other postretirement benefits(2) |  | 895 |  |  | 7,744 |  |  | 1,789 |  |  | 15,488 |
Other gains (losses), net |  | — |  |  | (2) |  |  | — |  |  | 317 |
Other, net |  | $ | 1,767 |  |  | $ | 9,080 |  |  | $ | 4,211 |  |  | $ | 17,639 |
___________ (1) Excludes net gains and losses on coffee-related derivative instruments designated as cash flow hedges recorded in cost of goods sold in the three and six months ended December 31, 2021 and 2020. (2) Presented in accordance with ASU 2017-07.
Schedule of Offsetting Assets | The following table presents the Company’s net exposure from its offsetting derivative asset and liability positions, as well as cash collateral on deposit with its counterparties as of the reporting dates indicated:
(In thousands) |  |  |  | Gross Amount Reported on Balance Sheet |  | Netting Adjustments |  | Cash Collateral Posted |  | Net Exposure
December 31, 2021 |  | Derivative Assets |  | $ | 10,021 |  |  | $ | (813) |  |  | $ | — |  |  | $ | 9,208 |
|  | Derivative Liabilities |  | 2,854 |  |  | (813) |  |  | — |  |  | 2,041 |
June 30, 2021 |  | Derivative Assets |  | 4,643 |  |  | (23) |  |  | — |  |  | 4,620 |
|  | Derivative Liabilities |  | 3,208 |  |  | (23) |  |  | — |  |  | 3,185 |
Schedule of Offsetting Liabilities | The following table presents the Company’s net exposure from its offsetting derivative asset and liability positions, as well as cash collateral on deposit with its counterparties as of the reporting dates indicated:
(In thousands) |  |  |  | Gross Amount Reported on Balance Sheet |  | Netting Adjustments |  | Cash Collateral Posted |  | Net Exposure
December 31, 2021 |  | Derivative Assets |  | $ | 10,021 |  |  | $ | (813) |  |  | $ | — |  |  | $ | 9,208 |
|  | Derivative Liabilities |  | 2,854 |  |  | (813) |  |  | — |  |  | 2,041 |
June 30, 2021 |  | Derivative Assets |  | 4,643 |  |  | (23) |  |  | — |  |  | 4,620 |
|  | Derivative Liabilities |  | 3,208 |  |  | (23) |  |  | — |  |  | 3,185 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 + Details
Name: | us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 + Details
Name: | us-gaap_OffsettingLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the 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 4C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CC -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL109998890-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration