Derivatives and Hedging Activities (Tables)

6 Months Ended

Dec. 31, 2012

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

Derivative Contracts and Changes in Underlying Value of the Foreign Currency Exposures

Summarized financial information related to these derivative contracts and changes in the underlying value of the foreign currency exposures are as follows:

	Quarter ended					Six months ended
	December 31,					December 31,
	2012		2011			2012			2011
	(in thousands)
Net foreign exchange derivative contract (gains) losses	$	105	$	(15	)	$	1,333		$	1,197
Net foreign currency transactional and re-measurement (gains) losses	6		(267		)	(1,150		)	2,094
Net foreign currency (gains) losses	$	111	$	(282	)	$	183		$	3,291

Derivative Instruments

The Company has the following derivative instruments located on its condensed consolidated balance sheet, utilized for the risk management purposes detailed above:

	As of December 31, 2012
	Fair Value  of Derivatives Designated as Hedge Instruments		Fair Value  of Derivatives Not Designated as Hedge Instruments
	(in thousands)
Derivative assets:(a)
Foreign exchange contracts	$	—	$	142
Derivative liabilities:(b)
Foreign exchange contracts	$	—	$	161

(a) All derivative assets are recorded as prepaid expenses and other current assets in the condensed consolidated balance sheet.

(b) All derivative liabilities are recorded as accrued expenses and other current liabilities in the condensed consolidated balance sheet.