Derivatives (Tables)

3 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Foreign Exchange Contracts, Primarily Forward Contracts

At September 30, 2015 and June 30, 2015, we had outstanding foreign exchange contracts, primarily forward contracts, which are summarized below:

	September 30, 2015					June 30, 2015
	Gross Notional Value		Fair Value Asset/ (Liability)(1)			Gross Notional Value		Fair Value Asset/ (Liability)(1)
Currency Hedged (Buy/Sell):
U.S. Dollar/Euro	$	1,889,735	$	196,781		$	1,479,685	$	208,532
Indian Rupee/U.S. Dollar		222,425		(3,185	)		205,150		(935	)
Euro/U.S. Dollar		153,944		(4,232	)		153,549		(15,994	)
JPY/Euro		24,025		393			0		0
CNY/U.S. Dollar		41,300		20			0		0
Russian Rubles/U.S. Dollar		3,619		25			0		0
Swiss Franc/Euro		30,829		2,864			32,050		4,262
U.S. Dollar/Brazilian Real		18,246		1,123			6,148		318
Euro/Russian Rubles		5,047		36			5,963		(865	)
U.S. Dollar/Russian Rubles		8,000		(61	)		1,613		24
Total	$	2,397,170	$	193,764		$	1,884,158	$	195,342

⁽¹⁾  Represents the net receivable/(payable) included in our Condensed Consolidated Balance Sheets within Other current assets, Other assets, Accrued liabilities and Other non-current liabilities, as applicable.

Summary of Fair Value Amounts of Derivative Instruments

The following tables provide a summary of the fair value amounts of our derivative instruments as of September 30, 2015 and June 30, 2015:

	Balance Sheet Location	Fair Value
Derivatives Designated as Cash Flow Hedges, Gross:		September 30, 2015		June 30, 2015
Other assets:
Foreign exchange contracts	Other current assets	$	69,590	$	73,082
Foreign exchange contracts	Other assets		114,673		121,496
Total assets			184,263		194,578
Other liabilities:
Foreign exchange contracts	Accrued liabilities	$	1,997	$	1,034
Foreign exchange contracts	Other non-current liabilities		2,999		1,654
Total liabilities			4,996		2,688
Net asset for derivatives designated as hedging instruments			179,267		191,890
Derivatives Designated as Economic Hedges, Gross:
Other assets:
Foreign exchange contracts	Other current assets		18,911		20,226
Foreign exchange contracts	Other assets		0		85
Total assets			18,911		20,311
Other liabilities:
Foreign exchange contracts	Accrued liabilities		2,632		13,288
Foreign exchange contracts	Other non-current liabilities		1,782		3,571
Total liabilities			4,414		16,859
Net asset for economic hedges:			14,497		3,452
Total net derivative asset		$	193,764	$	195,342

Schedule of Derivative Activity for Derivatives Designated as Cash Flow Hedges

The following tables show derivative activity for derivatives designated as cash flow hedges for the three months ended September 30, 2015 and 2014:

Derivative	Location of Derivative Gain/(Loss) Recognized in Income	Gain/(Loss) Reclassified from AOCI into Income (Effective Portion)					Gain/(Loss) Recognized in Income on Derivatives (Ineffective Portion)					Gain/(Loss) from Amounts Excluded from Effectiveness Testing
		Three Months Ended September 30,
		2015		2014			2015			2014		2015		2014
Foreign exchange contracts	Cost of sales	$	22,257	$	(803	)	$	(28	)	$	2,042	$	0	$	0
Foreign exchange contracts	SG&A		0		53			0			0		0		0
Foreign exchange contracts	Foreign exchange losses, net		0		0			0			0		2		(4	)
Interest rate lock	Interest expense, net		5		0			0			0		0		0
Total cash flow hedges		$	22,262	$	(750	)	$	(28	)	$	2,042	$	2	$	(4	)

Derivative	Gain/(Loss) Recognized in AOCI (Effective Portion)
	Three Months Ended September 30,
	2015		2014
Foreign exchange contracts	$	9,981	$	107,431
Total cash flow hedges	$	9,981	$	107,431

Summary of Gains and Losses from Derivative Instruments that are Not Designated as Hedging Instruments

The following table summarizes gains and losses from our derivative instruments that are not designated as hedging instruments for the three months ended September 30, 2015 and 2014:

		Three Months Ended September 30,
Derivative	Location of Derivative Gain/(Loss)	2015			2014
Foreign exchange contracts—forwards	Cost of sales	$	884		$	8,337
Foreign exchange contracts—forwards	Foreign exchange gains, net		(516	)		(16,636	)