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Financial Instruments (Tables)
6 Months Ended
Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
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

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

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

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

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

 


 
 
 
 
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