Derivative Instruments (Tables)

9 Months Ended

Mar. 31, 2019

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 March 31, 2019 and June 30, 2018:

(In thousands)	March 31, 2019	June 30, 2018
Derivative instruments designated as cash flow hedges:
Long coffee pounds	35,213	40,913
Derivative instruments not designated as cash flow hedges:
Long coffee pounds	4,394	2,546
Total	39,607	43,459

Schedule of Fair Values of Derivative Instruments on the Consolidated Balance Sheets

Fair values of derivative instruments on the Company’s condensed consolidated balance sheets:

	Derivative Instruments Designated as Cash Flow Hedges				Derivative Instruments Not Designated as Accounting Hedges
	March 31, 2019		June 30, 2018		March 31, 2019		June 30, 2018
(In thousands)
Financial Statement Location:
Short-term derivative assets:
Coffee-related derivative instruments(1)	$	—	$	—	$	4	$	—
Interest rate swap derivative instruments	$	144	$	—	$	—	$	—
Short-term derivative liabilities:
Coffee-related derivative instruments	$	4,428	$	3,081	$	1,069	$	219
Long-term derivative liabilities(2):
Coffee-related derivative instruments	$	493	$	386	$	—	$	—
Interest rate swap derivative instruments	$	221	$	—	$	—	$	—

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(1) Included in “Short-term derivative liabilities” on the Company’s condensed consolidated balance sheets.

(2) Included in “Other long-term liabilities” on the Company’s condensed consolidated balance sheets.

Schedule of Pretax Effect of Derivative Instruments on Earnings and OCI

The following table presents pretax net gains and losses on coffee-related and interest rate swap derivative instruments designated as cash flow hedges, as recognized in AOCI and “Cost of goods sold” (prior period amounts have been retrospectively adjusted to reflect the impact of certain changes in accounting principles and corrections to previously issued financial statements as described in Note 3).

	Three Months Ended March 31,						Nine Months Ended March 31,						Financial Statement Classification
(In thousands)	2019			2018			2019			2018
Net losses recognized in AOCI -Interest rate swap	$	(78	)	$	—		$	(78	)	$	—		AOCI
Net losses recognized in AOCI - Coffee-related	$	(3,988	)	$	(3,265	)	$	(11,176	)	$	(5,718	)	AOCI
Net (losses) gains recognized in earnings - Coffee-related	$	(2,131	)	$	(588	)	$	(6,310	)	$	573		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 March 31,						Nine Months Ended March 31,
(In thousands)	2019			2018			2019			2018
Net losses on coffee-related derivative instruments(1)	$	(893	)	$	(444	)	$	(2,918	)	$	(537	)
Net gains on investments	—			—			—			7
Non-operating pension and other postretirement benefit plans cost(2)	1,394			1,663			4,921			4,988
Other (losses) gains, net	(6		)	598			102			1,324
Other, net	$	495		$	1,817		$	2,105		$	5,782

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(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 nine months ended March 31, 2019 and 2018.

(2) Presented in accordance with newly implemented ASU 2017-07. See Note 2.

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
March 31, 2019	Derivative Assets	$	148	$	(148	)	$	—	$	—
	Derivative Liabilities	$	6,211	$	(148	)	$	—	$	6,063
June 30, 2018	Derivative Assets	$	—	$	—		$	—	$	—
	Derivative Liabilities	$	3,686	$	—		$	—	$	3,686

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
March 31, 2019	Derivative Assets	$	148	$	(148	)	$	—	$	—
	Derivative Liabilities	$	6,211	$	(148	)	$	—	$	6,063
June 30, 2018	Derivative Assets	$	—	$	—		$	—	$	—
	Derivative Liabilities	$	3,686	$	—		$	—	$	3,686