Derivatives and Hedging Activities (Tables)

3 Months Ended

Sep. 30, 2020

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

Schedule of 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 included in the Condensed Consolidated Income Statements for the quarters ended September 30, 2020 and 2019 are as follows:

	Quarter ended
	September 30,
	2020		2019
	(in thousands)
Net foreign exchange derivative contract losses (gains)	$	95	$	(1,153)
Net foreign currency transactional and re-measurement losses	343		1,399
Net foreign currency exchange losses	$	438	$	246

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

The components of the cash flow hedge included in the Condensed Consolidated Statement of Comprehensive (Loss) Income for the quarters ended September 30, 2020 and 2019, are as follows:

	Quarter ended
	September 30,
	2020		2019
	(in thousands)
Net interest expense recognized as a result of interest rate swap	$	560	$	27
Unrealized loss in fair value of interest rate swap	(402)		(1,440)
Net increase (decrease) in accumulated other comprehensive (loss) income	$	158	$	(1,413)
Income tax effect	49		(342)
Net increase (decrease) in accumulated other comprehensive (loss) income, net of tax	$	109	$	(1,071)

Schedule of Derivative Instruments

The Company used the following derivative instruments at September 30, 2020 and June 30, 2020, reflected in its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above:

		September 30, 2020				June 30, 2020
	Balance Sheet Location	Fair Value  of Derivatives Designated  as Hedge Instruments		Fair Value  of Derivatives Not Designated as  Hedge Instruments		Fair Value  of Derivatives Designated as Hedge Instruments		Fair Value  of Derivatives Not Designated as Hedge Instruments
		(in thousands)
Derivative liabilities:
Foreign exchange contracts	Accrued expenses and other current liabilities	$	—	$	41	$	—	$	26
Interest rate swap agreement	Other long-term liabilities	$	9,232	$	—	$	9,433	$	—