Derivatives (Tables)

3 Months Ended

Sep. 30, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Foreign Exchange Contracts, Primarily Forward Contracts

At September 30, 2016 and June 30, 2016, we had outstanding foreign exchange contracts, primarily forward contracts, which are summarized below:

	September 30, 2016					June 30, 2016
	GrossNotional Value		Fair Value Asset/ (Liability)(1)			Gross Notional Value		Fair Value Asset/ (Liability)(1)
Currency Hedged (Buy/Sell):
U.S. Dollar/Euro	$	1,229,309	$	117,825		$	1,516,094	$	149,901
Indian Rupee/U.S. Dollar		238,655		6,286			251,355		(721	)
Euro/U.S. Dollar		145,722		(375	)		224,921		(6,280	)
U.S. Dollar/Chinese Yuan		46,507		(226	)		-		-
Chinese Yuan/U.S. Dollar		39,794		42			-		-
U.S. Dollar/Brazilian Real		12,122		(1,636	)		20,958		(2,459	)
Euro/Russian Rubles		11,610		(150	)		3,601		(667	)
Russian Rubles/Euro		7,952		89			-		-
U.S. Dollar/Russian Rubles		7,849		(679	)		9,517		(478	)
Australian Dollar/U.S. Dollar		766		9			-		0
U.S. Dollar/Australian Dollar		766		(61	)		745		(37	)
Total	$	1,741,052	$	121,124		$	2,027,191	$	139,259

⁽¹⁾ Represents the net receivable 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, 2016 and June 30, 2016:

		Fair Value
Derivatives Designated as Cash Flow Hedges, Gross:	Balance Sheet Location	September 30, 2016		June 30, 2016
Other assets:
Foreign exchange contracts	Other current assets	$	63,430	$	69,122
Foreign exchange contracts	Other assets		49,376		67,232
Total assets			112,806		136,354
Other liabilities:
Foreign exchange contracts	Accrued liabilities	$	2,184	$	3,482
Foreign exchange contracts	Other non-current liabilities		244		993
Total liabilities			2,428		4,475
Net asset for derivatives designated as hedging instruments		$	110,378	$	131,879
Derivatives Designated as Economic Hedges, Gross:
Other assets:
Foreign exchange contracts	Other current assets	$	13,583	$	14,761
Foreign exchange contracts	Other assets		262		345
Total assets			13,845		15,106
Other liabilities:
Foreign exchange contracts	Accrued liabilities	$	1,090	$	5,763
Foreign exchange contracts	Other non-current liabilities		2,009		1,963
Total liabilities			3,099		7,726
Net asset for economic hedges		$	10,746	$	7,380
Total net derivative asset		$	121,124	$	139,259

Schedule of the Activity for Derivatives Instruments Designated as Cash Flow Hedges

The following tables summarize the activity of our derivative instruments designated as cash flow hedges for the three months ended September 30, 2016 and 2015:

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,
		2016			2015		2016		2015			2016		2015
Foreign exchange contracts	Cost of sales	$	20,093		$	22,257	$	205	$	(28	)	$	-	$	-
Foreign exchange contracts	SG&A		13			-		-		-			-		-
Foreign exchange contracts	Foreign exchange gains, net		618			-		-		-			-		2
Interest rate lock	Interest expense, net		(5	)		5		-		-			-		-
Total cash flow hedges		$	20,719		$	22,262	$	205	$	(28	)	$	-	$	2

Derivative	Gain/(Loss) Recognized in AOCI (Effective Portion)
	Three Months Ended September 30,
	2016			2015
Foreign exchange contracts	$	(1,669	)	$	9,981

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, 2016 and 2015:

		Three Months Ended September 30,
Derivative	Location of Derivative Gain/(Loss) Recognized in Income	2016			2015
Foreign exchange contracts	Cost of sales	$	(1,311	)	$	884
Foreign exchange contracts	Foreign exchange gains, net		318			(516	)
Foreign exchange contracts	SG&A	$	(2	)	$	-