Derivatives (Tables)

6 Months Ended

Dec. 31, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Foreign Exchange Contracts, Primarily Forward Contracts

At December 31, 2016 and June 30, 2016, we had outstanding foreign exchange contracts, primarily forward contracts, which are summarized below:

	December 31, 2016					June 30, 2016
	Gross Notional Value		Fair Value Asset/ (Liability)(1)			Gross Notional Value		Fair Value Asset/ (Liability)(1)
Currency Hedged (Buy/Sell):
U.S. Dollar/Euro	$	1,099,086	$	157,961		$	1,516,094	$	149,901
Indian Rupee/U.S. Dollar		260,200		7,068			251,355		(721	)
U.S. Dollar/Chinese Yuan		158,071		961			-		-
Euro/U.S. Dollar		140,579		(8,424	)		224,921		(6,280	)
Chinese Yuan/U.S. Dollar		25,486		(954	)		-		-
Mexican Peso/U.S. Dollar		16,519		(271	)		-		-
GBP/Euro		8,939		(95	)		-		-
Euro/Russian Rubles		8,125		(526	)		3,601		(667	)
U.S. Dollar/Russian Rubles		4,712		(590	)		9,517		(478	)
U.S. Dollar/Brazilian Real		3,863		(652	)		20,958		(2,459	)
U.S. Dollar/Australian Dollar		-		-			745		(37	)
Total	$	1,725,580	$	154,478		$	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 December 31, 2016 and June 30, 2016:

		Fair Value
Derivatives Designated as Cash Flow Hedges, Gross:	Balance Sheet Location	December 31, 2016		June 30, 2016
Other assets:
Foreign exchange contracts	Other current assets	$	93,467	$	69,122
Foreign exchange contracts	Other assets		52,375		67,232
Total assets			145,842		136,354
Other liabilities:
Foreign exchange contracts	Accrued liabilities	$	1,887	$	3,482
Foreign exchange contracts	Other non-current liabilities		2,232		993
Total liabilities			4,119		4,475
Net asset for derivatives designated as    hedging instruments		$	141,723	$	131,879
Derivatives Designated as Economic Hedges, Gross:
Other assets:
Foreign exchange contracts	Other current assets	$	21,217	$	14,761
Foreign exchange contracts	Other assets		251		345
Total assets			21,468		15,106
Other liabilities:
Foreign exchange contracts	Accrued liabilities	$	8,187	$	5,763
Foreign exchange contracts	Other non-current liabilities		526		1,963
Total liabilities			8,713		7,726
Net asset for economic hedges		$	12,755	$	7,380
Total net derivative asset		$	154,478	$	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 December 31, 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 December 31,
		2016			2015			2016			2015			2016		2015
Foreign exchange contracts	Cost of sales	$	22,065		$	21,042		$	(94	)	$	(88	)	$	-	$	-
Foreign exchange contracts	SG&A		(93	)		24			-			-			-		-
Foreign exchange contracts	Foreign exchange losses (gains), net		(3,953	)		-			-			-			-		(3	)
Interest rate lock	Interest expense, net		(6	)		(5	)		-			-			-		-
Total cash flow hedges		$	18,013		$	21,061		$	(94	)	$	(88	)	$	-	$	(3	)

Derivative	Gain/(Loss) Recognized in AOCI (Effective Portion)
	Three Months Ended December 31,
	2016		2015
Foreign exchange contracts	$	55,613	$	41,467

The following tables summarize the activity of our derivative instruments designated as cash flow hedges for the six months ended December 31, 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
		Six Months Ended December 31,
		2016			2015			2016		2015			2016		2015
Foreign exchange contracts	Cost of sales	$	42,158		$	43,299		$	111	$	(116	)	$		$	-
Foreign exchange contracts	SG&A		(80	)		24			-		-			-		-
Foreign exchange contracts	Foreign exchange losses (gains), net		(3,335	)		-			-		-			-		(1	)
Interest rate lock	Interest expense, net		(11	)		(10	)		-		-			-		-
Total cash flow hedges		$	38,732		$	43,313		$	111	$	(116	)	$	-	$	(1	)

Derivative	Gain/(Loss) Recognized in AOCI (Effective Portion)
	Six months ended December 31,
	2016		2015
Foreign exchange contracts	$	53,944	$	51,448

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, 2016 and 2015:

	Location of Derivative Gain/(Loss)	Three Months Ended December 31,					Six Months Ended December 31,
Derivative	Recognized in Income	2016			2015		2016			2015
Foreign exchange contracts	Cost of sales	$	8,686		$	3,605	$	7,375		$	4,489
Foreign exchange contracts	Foreign exchange losses (gains), net		(5,266	)		2,963		(4,948	)		(3,479	)
Foreign exchange contracts	SG&A		(24	)		-		(26	)		-