Derivative Financial Instruments (Notes)

12 Months Ended

Jun. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

Derivative Financial Instruments

Hedges of Interest Rate Risk

During fiscal 2013, we have entered into interest rate swap contracts to manage differences in the amount, timing, and duration of our known or expected cash interest payments related to our debt. Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for us making fixed-rate payments over the life of the derivative agreements without exchange of the underlying notional amount.

The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recorded in accumulated other comprehensive loss and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. If a derivative is deemed to be ineffective, we recognize the ineffective portion of the change in fair value of the derivatives directly in earnings. During the fiscal year ended June 30, 2013, we did not hold any derivative instruments that were determined to be ineffective.

Amounts reported in accumulated other comprehensive loss related to interest rate swap contracts will be reclassified to interest expense as interest payments are accrued or made on our variable-rate debt. Assuming these derivative instruments continue to qualify for hedge accounting, as of June 30, 2013, we estimate that $193 will be reclassified from accumulated other comprehensive loss to interest income during the twelve months ending June 30, 2014. As of June 30, 2013, we had seven outstanding interest rate swap contracts indexed to one-month LIBOR. These instruments were designated as cash flow hedges of interest rate risk and have varying start dates and maturity dates from2013 - 2017. As the start date of certain contracts has not yet commenced, the notional amount of our outstanding contracts is in excess of the variable-rate debt being hedged as of the balance sheet date.

Interest rate swap contracts outstanding:	Notional Amounts
Contracts accruing interest as of June 30, 2013	$	155,000
Contracts with a future start date	40,000
Total	$	195,000

Hedges of Currency Risk

During fiscal 2013, we have executed currency forward contracts in order to mitigate our exposure to fluctuations in various currencies against our reporting currency, the U.S. dollar. We currently have outstanding currency forward contracts that qualify as cash flow hedges intended to offset the effect of exchange rate fluctuations on our net income. Currency forward agreements involve fixing the exchange rate for delivery of a specified amount of currency on a specified date.

The effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in accumulated other comprehensive loss and is subsequently reclassified into earnings in the period in which the hedged forecasted transaction affects earnings. We recognize the ineffective portion of the change in fair value of the derivatives directly in earnings. Assuming our currency forward contracts continue to qualify for hedge accounting, as of June 30, 2013, we estimate that $133 will be reclassified from accumulated other comprehensive loss to expense during the twelve months ending June 30, 2014.

As of June 30, 2013, we had the following outstanding currency forward contracts that were used to hedge fluctuations in the US Dollar value of forecasted transactions denominated in Canadian Dollar, Danish Krone, Great British Pound, Swedish Krona, and Swiss Franc:

Notional Amount	Effective Date	Maturity Date	Number of Instruments	Index
$22,412	May 15, 2013	Various through September 30, 2013	15	Various

Financial Instrument Presentation

The table below presents the fair value of our derivative financial instruments as well as their classification on the balance sheet as of June 30, 2013 and 2012:

	Asset Derivatives						Liability Derivatives
	June 30, 2013			June 30, 2012			June 30, 2013				June 30, 2012
Derivative designated as hedging instrument	Balance Sheet Line Item	Fair Value		Balance Sheet Line Item	Fair Value		Balance Sheet Line Item	Fair Value			Balance Sheet Line Item	Fair Value
Interest rate swaps	Other current assets	$	344	Other current assets	$	—	Other current liabilities/other liabilities	$	(70	)	Other current liabilities/other liabilities	$	—
Currency forward contracts	Other current assets	70		Other current assets	—		Other current liabilities	(203		)	Other current liabilities	—
Total derivatives designated as hedging instruments		$	414		$	—		$	(273	)		$	—

As of June 30, 2013 there is no material impact on our balance sheet presentation for the netting of derivative financial instruments.

The following table presents the effect of our derivative financial instruments designated as hedging instruments and their classification within comprehensive income for the fiscal years ended June 30, 2013 and 2012:

Derivatives in Hedging Relationships	Amount of Gain (Loss) Recognized in Comprehensive Income on Derivatives (Effective Portion)
	Year Ended June 30,
In thousands	2013			2012
Interest Rate Swaps	$	387		$	—
Currency contracts that hedge revenue	280			—
Currency contracts that hedge cost of revenue	(263		)	—
Currency contracts that hedge technology and development expense	80			—
Currency contracts that hedge general and administrative expense	(1		)	—
	$	483		$	—

The following table presents reclassifications out of accumulated other comprehensive loss for the fiscal years ended June 30, 2013 and 2012:

Details about Accumulated Other Comprehensive Loss Components	Amount Reclassified from Accumulated Other Comprehensive Loss to Net Income Gain/(Loss)					Affected line item in the Statement of Operations
	Year Ended June 30,
In thousands	2013			2012
Currency contracts that hedge revenue	$	293		$	—	Revenue
Currency contracts that hedge cost of revenue	(92		)	—		Cost of revenue
Currency contracts that hedge technology and development expense	27			—		Technology and development expense
Currency contracts that hedge general and administrative expense	1			—		General and administrative expense
Interest Rate Swaps	189			—		Interest expense
Total before income tax	418			—		Total before Income Tax
Income tax expense	(21		)	—		Income tax provision
Total	$	397		$	—

The following table presents the effect of our de-designated derivative financial instruments that no longer qualify as hedging instruments and the mark to market impact recorded within the statement of operations:

Derivatives not classified as hedging instruments under ASC 815	Amount of Gain (Loss) Recognized in Income				Location of Gain (Loss) Recognized in Income (Ineffective Portion)
	Year Ended June 30,
In thousands	2013		2012
Currency contracts	$	29	$	—	Other income (expense)