XML 40 R30.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Derivative Instruments (Tables) | 3 Months Ended
--- | ---
Sep. 30, 2022
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 September 30, 2022 and June 30, 2022:
(In thousands) |  | September 30, 2022 |  | June 30, 2022
Derivative instruments designated as cash flow hedges: |  |  |  |
Long coffee pounds |  | 4,238 |  |  | 4,200 |
Derivative instruments not designated as cash flow hedges: |  |  |  |
Long coffee pounds |  | 1,172 |  |  | 516 |
Total |  | 5,410 |  |  | 4,716 |
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) |  | September 30, 2022 |  | June 30, 2022 |  | September 30, 2022 |  | June 30, 2022
Financial Statement Location: |  |  |  |  |  |  |  |
Short-term derivative assets: |  |  |  |  |  |  |  |
Coffee-related derivative instruments (1) |  | $ | 803 |  |  | $ | 2,144 |  |  | $ | 927 |  |  | $ | 555 |
Interest rate swap derivative instruments (1) |  | — |  |  | — |  |  | 1,129 |  |  | 323 |
Long-term derivative assets: |  |  |  |  |  |  |  |
Coffee-related derivative instruments (2) |  | 34 |  |  | 37 |  |  | — |  |  | 140 |
Interest rate swap derivative instruments (2) |  | — |  |  | — |  |  | 102 |  |  | 166 |
Short-term derivative liabilities: |  |  |  |  |  |  |  |
Coffee-related derivative instruments (3) |  | 42 |  |  | 3 |  |  | 2,413 |  |  | 2,346 |
________________ (1) Included in “Short-term derivative assets” on the Company's consolidated balance sheets. (2) Included in “Long-term derivative assets” on the Company's consolidated balance sheets. (3) Included in “Short-term derivative 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 September 30, |  | Financial Statement Classification
(In thousands) |  |  |  |  |  | 2022 |  | 2021 |
Net losses reclassified from AOCI to earnings for de-designated Interest rate swap |  |  |  |  |  | (286) |  |  | (314) |  |  | Interest Expense
Net(losses) gains recognized in AOCI - Coffee-related |  |  |  |  |  | (527) |  |  | 5,859 |  |  | AOCI
Net gains recognized in earnings - Coffee - related |  |  |  |  |  | 1,281 |  |  | 1,920 |  |  | 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 September 30,
(In thousands) |  |  |  |  |  | 2022 |  | 2021
Net gains on coffee-related derivative instruments (1) |  |  |  |  |  | $ | 562 |  |  | $ | 1,550 |
Non-operating pension and other postretirement benefits |  |  |  |  |  | 728 |  |  | 894 |
Other gains, net |  |  |  |  |  | 318 |  |  | — |
Other, net |  |  |  |  |  | $ | 1,608 |  |  | $ | 2,444 |
___________ (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 months ended September 30, 2022 and 2021.
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table provides the balances and changes in accumulated other comprehensive income (loss) related to derivative instruments for the indicated periods:
|  | Three Months Ended September 30,
(In thousands) |  | 2022 |  | 2021
Accumulated other comprehensive income beginning balance |  | $ | (1,692) |  |  | $ | (4,176) |
Net losses reclassified from AOCI to earnings for partial unwind of interest swap - Interest rate swap |  | (286) |  |  | (314) |
Net losses (gains) recognized in AOCI - Coffee-related |  | 527 |  |  | (5,859) |
Net gains recognized in earnings - Coffee-related |  | 1,281 |  |  | 1,920 |
Accumulated other comprehensive income ending balance |  | $ | (170) |  |  | $ | (8,429) |
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
September 30, 2022 |  | Derivative Assets |  | $ | 2,894 |  |  | $ | (1,469) |  |  | $ | — |  |  | $ | 1,425 |
|  | Derivative Liabilities |  | 2,455 |  |  | (1,469) |  |  | — |  |  | 986 |
June 30, 2022 |  | Derivative Assets |  | 3,365 |  |  | (2,349) |  |  | — |  |  | 1,016 |
|  | Derivative Liabilities |  | 2,349 |  |  | (2,349) |  |  | — |  |  | — |
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
September 30, 2022 |  | Derivative Assets |  | $ | 2,894 |  |  | $ | (1,469) |  |  | $ | — |  |  | $ | 1,425 |
|  | Derivative Liabilities |  | 2,455 |  |  | (1,469) |  |  | — |  |  | 986 |
June 30, 2022 |  | Derivative Assets |  | 3,365 |  |  | (2,349) |  |  | — |  |  | 1,016 |
|  | Derivative Liabilities |  | 2,349 |  |  | (2,349) |  |  | — |  |  | — |

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 https://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 https://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 https://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 https://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 of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
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 https://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 https://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 https://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 https://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 https://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