Derivatives (Tables)

6 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Foreign Exchange Contracts, Primarily Forward Contracts

At December 31, 2015 and June 30, 2015, we had outstanding foreign exchange contracts, primarily forward contracts, which are summarized below:

	December 31, 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	$	1,735,012	$	215,788		$	1,479,685	$	208,532
Indian Rupee/U.S. Dollar		217,600		(1,387	)		205,150		(935	)
Euro/U.S. Dollar		150,531		(8,434	)		153,549		(15,994	)
Swiss Franc/U.S. Dollar		26,949		498			0		0
U.S. Dollar/Swiss Franc		26,949		242			0		0
Chinese Yuan/U.S. Dollar		26,810		(405	)		0		0
Japanese Yen/Euro		15,963		655			0		0
Mexican Pesos/U.S. Dollar		14,594		(172	)		0		0
U.S. Dollar/Brazilian Real		8,731		168			6,148		318
Euro/Russian Rubles		4,550		217			5,963		(865	)
U.S. Dollar/Russian Rubles		4,245		170			1,613		24
Russian Rubles/U.S. Dollar		2,164		(139	)		0		0
Russian Rubles/Euro		1,379		(40	)		0		0
U.S. Dollar/Australian Dollar		729		(15	)		0		0
Swiss Franc/Euro		0		0			32,050		4,262
Total	$	2,236,206	$	207,146		$	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 December 31, 2015 and June 30, 2015:

		Fair Value
Derivatives Designated as Cash Flow Hedges, Gross:	Balance Sheet Location	December 31, 2015		June 30, 2015
Other assets:
Foreign exchange contracts	Other current assets	$	82,994	$	73,082
Foreign exchange contracts	Other assets		116,993		121,496
Total assets			199,987		194,578
Other liabilities:
Foreign exchange contracts	Accrued liabilities	$	1,789	$	1,034
Foreign exchange contracts	Other non-current liabilities		1,252		1,654
Total liabilities			3,041		2,688
Net asset for derivatives designated as hedging instruments		$	196,946	$	191,890
Derivatives Designated as Economic Hedges, Gross:
Other assets:
Foreign exchange contracts	Other current assets	$	18,987	$	20,226
Foreign exchange contracts	Other assets		0		85
Total assets			18,987		20,311
Other liabilities:
Foreign exchange contracts	Accrued liabilities	$	6,661	$	13,288
Foreign exchange contracts	Other non-current liabilities		2,126		3,571
Total liabilities			8,787		16,859
Net asset for economic hedges:		$	10,200	$	3,452
Total net derivative asset		$	207,146	$	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 December 31, 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 December 31,
		2015			2014		2015			2014			2015			2014
Foreign exchange contracts	Cost of sales	$	21,042		$	7,353	$	(88	)	$	(19	)	$	0		$	0
Foreign exchange contracts	SG&A		24			165		0			0			0			0
Foreign exchange contracts	Foreign exchange losses, net		0			0		0			0			(3	)		(5	)
Interest rate lock	Interest expense, net		(5	)		0		0			0			0			0
Total cash flow hedges		$	21,061		$	7,518	$	(88	)	$	(19	)	$	(3	)	$	(5	)

Derivative	Gain/(Loss) Recognized in AOCI (Effective Portion)
	Three Months Ended December 31,
	2015		2014
Foreign exchange contracts	$	41,467	$	55,680

The following tables show derivative activity for derivatives designated as cash flow hedges for the six months ended December 31, 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
		Six Months Ended December 31,
		2015			2014		2015			2014		2015			2014
Foreign exchange contracts	Cost of sales	$	43,299		$	6,550	$	(116	)	$	2,023	$	0		$	0
Foreign exchange contracts	SG&A		24			218		0			0		0			0
Foreign exchange contracts	Foreign exchange losses, net		0			0		0			0		(1	)		(9	)
Interest rate lock	Interest expense, net		(10	)		0		0			0		0			0
Total cash flow hedges		$	43,313		$	6,768	$	(116	)	$	2,023	$	(1	)	$	(9	)

Derivative	Gain/(Loss) Recognized in AOCI (Effective Portion)
	Six Months Ended December 31,
	2015		2014
Foreign exchange contracts	$	51,448	$	163,111

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 and six months ended December 31, 2015 and 2014:

		Three Months Ended December 31,					Six Months Ended December 31,
Derivative	Location of Derivative Gain/(Loss)	2015		2014			2015			2014
Foreign exchange contracts – forwards	Cost of sales	$	3,605	$	3,796		$	4,489		$	12,133
Foreign exchange contracts – forwards	Foreign exchange (gains) losses, net		2,963		(5,736	)		(3,479	)		(22,372	)