Derivatives and Hedging Activities (Tables)

9 Months Ended

Mar. 31, 2013

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						Nine months ended
	March 31,						March 31,
	2013			2012			2013			2012
	(in thousands)
Net foreign exchange derivative contract (gains) losses	$	(2,092	)	$	(1,666	)	$	(759	)	$	2,863
Net foreign currency transactional and re-measurement (gains) losses	2,237			1,386			1,087			708
Net foreign currency (gains) losses	$	145		$	280		$	328		$	3,571

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 March 31, 2013
	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	$	—	$	248
Derivative liabilities:(b)
Foreign exchange contracts	$	—	$	200

(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.