Derivatives and Hedging Activities (Tables)

12 Months Ended

Jun. 30, 2019

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:

	Fiscal year ended June 30,
	2019			2018		2017
	(in thousands)
Net foreign exchange derivative contract loss (gain)	$	(558	)	$	386	$	146
Net foreign currency transactional and re-measurement loss	1,714			1,710		1,773
Net foreign currency loss	$	1,156		$	2,096	$	1,919

Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The components of the cash flow hedge included in accumulated other comprehensive (loss) income, net of income taxes, in the Consolidated Statements of Shareholders’ Equity, are as follows:

	Fiscal Year Ended June 30,
	2019			2018		2017
	(in thousands)
Net interest (income) expense recognized as a result of interest rate swap	$	(233	)	$	161	$	7
Unrealized (loss) gain in fair value of interest swap rates	(4,159		)	1,422		14
Net increase in accumulated other comprehensive (loss) income	(4,392		)	1,583		21
Income tax effect	(1,115		)	494		8
Net increase in accumulated other comprehensive (loss) income, net of tax	$	(3,277	)	$	1,089	$	13

Derivative Instruments

The Company has the following derivative instruments located on the Consolidated Balance Sheets and Income Statements as of June 30, 2019, utilized for the risk management purposes detailed above:

	June 30, 2019
	Balance Sheet Location	Fair Value of  Derivatives Designated as  Hedge Instruments		Fair Value of  Derivatives Not Designated as Hedge Instruments
		(in thousands)
Derivative assets:
Foreign exchange contracts	Prepaid expenses and other current assets	$	—	$	168
Derivative liabilities:
Foreign exchange contracts	Accrued expenses and other current liabilities	$	—	$	165
Interest rate swap agreement	Other current liabilities	$	3,504	$	—

The Company has the following derivative instruments located on the Consolidated Balance Sheets and Income Statements as of June 30, 2018, utilized for the risk management purposes detailed above:

	June 30, 2018
	Balance Sheet Location	Fair Value of  Derivatives Designated as  Hedge Instruments		Fair Value of  Derivatives Not Designated as Hedge Instruments
		(in thousands)
Derivative assets:
Foreign exchange contracts	Prepaid expenses and other current assets	$	—	$	157
Interest rate swap agreement	Other current assets	$	1,604	$	—
Derivative liabilities:
Foreign exchange contracts	Accrued expenses and other current liabilities	$	—	$	156