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Derivative Instruments (Tables)
3 Months Ended 6 Months Ended
Dec. 31, 2022
Dec. 31, 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 December 31, 2022 and June 30, 2022:
(In thousands)December 31, 2022June 30, 2022
Derivative instruments designated as cash flow hedges:
  Long coffee pounds3,638 4,200 
Derivative instruments not designated as cash flow hedges:
  Long coffee pounds8,377 516 
  Short coffee pounds(4,688)— 
      Total7,327 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)December 31, 2022June 30, 2022December 31, 2022June 30, 2022
Financial Statement Location:
Short-term derivative assets:
Coffee-related derivative instruments (1)$271 $2,144 $295 $555 
Interest rate swap derivative instruments (1)— — 1,270 323 
Long-term derivative assets:
    Coffee-related derivative instruments (2)— 37 — 140 
Interest rate swap derivative instruments (2)— — — 166 
Short-term derivative liabilities:
Coffee-related derivative instruments (3)885 4,467 2,346 
________________
(1) Included in “Short-term derivative assets” on the Company's consolidated balance sheets.
(2) Included in “Long-term derivative assets” on the Company's consolidated balance sheets.
(3) Included in “Short-term derivative liabilities” on the Company's consolidated balance sheets.
Schedule of Pretax Effect of Derivative Instruments on Earnings and OCI  
The following table presents pretax net gains and losses for the Company's derivative instruments designated as cash flow hedges, as recognized in “AOCI,” “Cost of goods sold” and “Interest expense”.
Three Months Ended December 31,Six Months Ended December 31,Financial Statement Classification
(In thousands)2022202120222021
Net (gains) losses recognized from AOCI to earnings - Interest rate swap(6)(4)386 (4)Interest Expense
Net losses reclassified from AOCI to earnings for de-designated Interest rate swap(273)(304)(952)(618)Interest Expense
Net (losses) gains recognized in AOCI - Coffee-related(2,284)5,132 (2,812)10,991 AOCI
Net gains recognized in earnings - Coffee - related600 3,712 1,881 5,632 Cost of goods sold
Schedule of Net Realized and Unrealized Gains and Losses Recorded in 'Other, net'  
Net gains and losses recorded in “Other, net” are as follows:
 Three Months Ended December 31,Six Months Ended December 31,
(In thousands)2022202120222021
Net (losses) gains on coffee-related derivative instruments (1)$(4,167)$872 $(3,605)$2,422 
Non-operating pension and other postretirement benefits727 895 1,455 1,789 
Other gains, net170 — 488 — 
             Other, net $(3,270)$1,767 $(1,662)$4,211 
___________
(1) Excludes net gains and losses on coffee-related derivative instruments designated as cash flow hedges recorded in cost of goods sold in the three and six months ended December 31, 2022 and 2021.
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table provides the balances and changes in accumulated other comprehensive income (loss) related to derivative instruments for the indicated periods:
Three Months Ended December 31,Six Months Ended December 31,
(In thousands)2022202120222021
Accumulated other comprehensive income beginning balance$(170)$(8,429)$(1,692)$(4,176)
Net (gains) losses recognized from AOCI to earnings - Interest rate swap(6)(4)386 (4)
Net losses reclassified from AOCI to earnings for partial unwind of interest swap - Interest rate swap(273)(304)(952)(618)
Net losses (gains) recognized in AOCI - Coffee-related2,284 (5,132)2,812 (10,991)
Net gains recognized in earnings - Coffee-related600 3,712 1,881 5,632 
Accumulated other comprehensive income ending balance$2,435 $(10,157)$2,435 $(10,157)
 
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 SheetNetting AdjustmentsCash Collateral PostedNet Exposure
December 31, 2022Derivative Assets$1,836 $(566)$— $1,270 
Derivative Liabilities5,352 (566)— 4,786 
June 30, 2022Derivative Assets3,365 (2,349)— 1,016 
Derivative Liabilities2,349 (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 SheetNetting AdjustmentsCash Collateral PostedNet Exposure
December 31, 2022Derivative Assets$1,836 $(566)$— $1,270 
Derivative Liabilities5,352 (566)— 4,786 
June 30, 2022Derivative Assets3,365 (2,349)— 1,016 
Derivative Liabilities2,349 (2,349)— —