Financial Instruments (Tables)
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6 Months Ended |
Dec. 31, 2016 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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Investments Classified by Contractual Maturity Date |
The contractual maturities of available-for-sale investments at December 31, 2016 and June 30, 2016 are as follows: | | | | | | | | | | | | | | | | | | December 31, 2016 | | June 30, 2016 | | Amortized Cost | | Fair Value | | Amortized Cost | | Fair Value | Less than one year | $ | 15,784 |
| | $ | 15,785 |
| | $ | 29,960 |
| | $ | 29,990 |
| One to three years | 148,806 |
| | 149,105 |
| | 144,100 |
| | 144,625 |
| Above three years | 43,745 |
| | 43,790 |
| | 34,276 |
| | 34,275 |
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Schedule of Carrying Values and Estimated Fair Values of Debt Instruments |
The carrying value of long-term debt and estimated fair value of long-term debt are as follows: | | | | | | | | | | | | December 31, 2016 | | June 30, 2016 | Carrying value of long-term debt | | $ | 2,726,300 |
| | $ | 2,733,140 |
| Estimated fair value of long-term debt | | 2,924,259 |
| | 3,133,989 |
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Schedule of Derivative Instruments in Statement of Financial Position, Fair Value |
he following summarizes the location and fair value of significant derivative financial instruments reported in the Consolidated Balance Sheet as of December 31, 2016 and June 30, 2016:
| | | | | | | | | | | | | | Balance Sheet Caption | | December 31, 2016 | | June 30, 2016 | Net investment hedges | | | | | | | Cross-currency swap contracts | | Other assets | | $ | 32,828 |
| | $ | 24,771 |
| Cash flow hedges | | | | | | | Costless collar contracts | | Non-trade and notes receivable | | 536 |
| | — |
| Costless collar contracts | | Other accrued liabilities | | 5,542 |
| | 8,368 |
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Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance |
Gains on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss) in the Consolidated Balance Sheet are as follows: | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | December 31, | | December 31, | | 2016 | | 2015 | | 2016 | | 2015 | Cross-currency swap contracts | $ | 8,907 |
| | $ | 4,630 |
| | $ | 5,019 |
| | $ | 7,793 |
| Foreign denominated debt | 4,934 |
| | 5,407 |
| | 4,261 |
| | 4,273 |
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Schedule of Financial Assets & Liabilities Measured at Fair Value |
A summary of financial assets and liabilities that were measured at fair value on a recurring basis at December 31, 2016 and June 30, 2016 are as follows: | | | | | | | | | | | | | | | | | | | | | | Quoted Prices |
| | Significant Other |
| | Significant |
| | | Fair |
| | In Active |
| | Observable |
| | Unobservable |
| | | Value at |
| | Markets |
| | Inputs |
| | Inputs |
| | | December 31, 2016 |
| | (Level 1) |
| | (Level 2) |
| | (Level 3) |
| Assets: | | | | | | | | | Equity securities | | $ | 1,711 |
| | $ | 1,711 |
| | $ | — |
| | $ | — |
| Government bonds | | 15,279 |
| | 15,279 |
| | — |
| | — |
| Corporate bonds | | 188,552 |
| | 188,552 |
| | — |
| | — |
| Asset-backed and mortgage-backed securities | | 4,848 |
| | — |
| | 4,848 |
| | — |
| Derivatives | | 32,991 |
| | — |
| | 32,991 |
| | — |
| Investments measured at net asset value | | 379,501 |
| | | | | | | Liabilities: | | | | | | | | | Derivatives | | 8,557 |
| | — |
| | 8,557 |
| | — |
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| | | | | | | | | | | | | | | | | | | | | | Quoted Prices |
| | Significant Other |
| | Significant |
| | | Fair |
| | In Active |
| | Observable |
| | Unobservable |
| | | Value at |
| | Markets |
| | Inputs |
| | Inputs |
| | | June 30, 2016 |
| | (Level 1) |
| | (Level 2) |
| | (Level 3) |
| Assets: | | | | | | | | | Equity securities | | $ | 1,296 |
| | $ | 1,296 |
| | $ | — |
| | $ | — |
| Government bonds | | 15,764 |
| | 15,764 |
| | — |
| | — |
| Corporate bonds | | 184,380 |
| | 184,380 |
| | — |
| | — |
| Asset-backed and mortgage-backed securities | | 8,746 |
| | — |
| | 8,746 |
| | — |
| Derivatives | | 25,303 |
| | — |
| | 25,303 |
| | — |
| Investments measured at net asset value | | 361,770 |
| | | | | | | Liabilities: | | | | | | | | | Derivatives | | 13,028 |
| | — |
| | 13,028 |
| | — |
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