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Derivative Instruments | 12 Months Ended
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Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments | Note 4. Derivative Instruments Derivative Instruments Held Coffee-Related Derivative Instruments The Company is exposed to commodity price risk associated with its price to be fixed green coffee purchase contracts, which are described further in Note 2. The Company utilizes forward and option contracts to manage exposure to the variability in expected future cash flows from forecasted purchases of green coffee attributable to commodity price risk. Certain of these coffee-related derivative instruments utilized for risk management purposes have been designated as cash flow hedges, while other coffee-related derivative instruments have not been designated as cash flow hedges or do not qualify for hedge accounting despite hedging the Company's future cash flows on an economic basis. All derivative instruments designated and not designated as cash flow hedges were settled as of March 2025. The following table summarizes the notional volumes for the coffee-related derivative instruments held by the Company at June 30, 2025 and 2024:
|  | As of June 30,
(In thousands) |  | 2025 |  | 2024
Derivative instruments not designated as cash flow hedges: |  |  |  |
Long coffee pounds |  | — |  |  | 71 |
Total |  | — |  |  | 71 |
Effect of Derivative Instruments on the Financial Statements Balance Sheets Fair values of derivative instruments on the Company's consolidated balance sheets:
|  |  |  | Derivative Instruments Not Designated as Accounting Hedges
|  |  |  | As of June 30,
(In thousands) |  |  |  |  |  | 2025 |  | 2024
Financial Statement Location: |  |  |  |  |  |  |  |
Coffee-related derivative instruments(1) |  |  |  |  |  | $ | — |  |  | $ | 11 |
Coffee-related derivative instruments(2) |  |  |  |  |  | — |  |  | 33 |
Coffee-related derivative instruments(3) |  |  |  |  |  | — |  |  | 730 |
Coffee-related derivative instruments(4) |  |  |  |  |  | — |  |  | 1,505 |
________________ (1) Included in “Short-term derivative assets” on the Company's consolidated balance sheets. (2) Included in “Other assets” on the Company's consolidated balance sheets. (3) Included in “Short-term derivative liability” on the Company's consolidated balance sheets. (4) Included in “Other Long-term liabilities” on the Company's consolidated balance sheets. Statements of Operations 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 “Interest expense”.
|  | Year Ended June 30, |  |  |  |  |  | Financial Statement Classification
(In thousands) |  | 2025 |  | 2024 |  |  |  |  |
Net (gains) losses recognized in AOCI - Coffee-related |  | — |  |  | (406) |  |  |  |  |  |  | AOCI
Net (loss) gains recognized in earnings - Coffee-related |  | 313 |  |  | (615) |  |  |  |  |  |  | Costs of goods sold
For the fiscal years ended June 30, 2025 and 2024 there were no gains or losses recognized in earnings as a result of excluding amounts from the assessment of hedge effectiveness. Net (gains) losses on derivative instruments in the Company's consolidated statements of cash flows also includes net (gains) losses on coffee-related derivative instruments designated as cash flow hedges reclassified to cost of goods sold from AOCI in the fiscal years ended June 30, 2025 and 2024 . Gains and losses on derivative instruments not designated as accounting hedges are included in “Other, net” in the Company's consolidated statements of operations and in “Net (gains) losses on derivative instruments and investments” in the Company's consolidated statements of cash flows. Net gains and losses recorded in “Other, net” are as follows:
|  | Year Ended June 30, |  |
(In thousands) |  | 2025 |  | 2024 |  |
Net gains (losses) on coffee-related derivative instruments (1) |  | $ | (3,810) |  |  | $ | 503 |  |  |
Non-operating pension and other postretirement benefit plans credits |  | 3,965 |  |  | 3,648 |  |  |
Other (losses) gains, net |  | 2,112 |  |  | 2,073 |  |  |
Other, net |  | $ | 2,267 |  |  | $ | 6,224 |  |  |
___________ (1) Excludes net losses and net gains on coffee-related derivative instruments designated as cash flow hedges recorded in cost of goods sold in the fiscal years ended June 30, 2025 and 2024. Statement of Comprehensive Income (Loss) As of June 30, 2024, accumulated other comprehensive loss beginning balance was $1.2 million, net gains recognized in AOCI - coffee-related of $406 thousand, and net loss recognized in earnings - coffee-related of $615 thousand. All derivatives were settled for the year-ended June 30, 2025, resulting in a $313 thousand net gain recognized in earnings - coffee-related in the current year. Offsetting of Derivative Assets and Liabilities The Company has agreements in place that allow for the financial right of offset for derivative assets and liabilities at settlement or in the event of default under the agreements. Additionally, under certain coffee derivative agreements, the Company maintains accounts with its counterparties to facilitate financial derivative transactions in support of its risk management activities. 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
As of June 30, 2024 |  | Derivative Assets |  | 44 |  |  | (44) |  |  | — |  |  | — |
|  | Derivative Liabilities |  | 2,235 |  |  | (44) |  |  | — |  |  | 2,191 |
Cash Flow Hedges Changes in the fair value of the Company’s coffee-related derivative instruments designated as cash flow hedges are deferred in AOCI and subsequently reclassified into cost of goods sold in the same period or periods in which the hedged forecasted purchases affect earnings, or when it is probable that the hedged forecasted transaction will not occur by the end of the originally specified time period.

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