Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instruments

The following table presents our assets and liabilities related to derivative instruments on a gross basis within the condensed consolidated balance sheets (in thousands):

	September 30, 2024		June 30, 2024		Balance Sheet Caption
Derivative Assets
Not Designated as Hedging Instruments
Foreign currency hedging instruments	$	24,664	$	2,343	Prepaid expenses and other current assets
Foreign currency hedging instruments	—		89		Prepaid taxes and other non-current assets
Total derivative assets	$	24,664	$	2,432
Derivative Liabilities
Designated as Hedging Instruments
Foreign cross-currency swaps – Fair Value Hedge	$	22,289	$	10,472	Other long-term liabilities
Foreign cross-currency swaps – Net Investment Hedge	50,006		21,270		Other long-term liabilities
Not Designated as Hedging Instruments
Foreign currency hedging instruments	2,438		4,654		Accrued expenses
Foreign currency hedging instruments	—		142		Other long-term liabilities
Total derivative liabilities	$	74,733	$	36,538

Schedule of Derivative Gains (Losses)

We recognized the following gains (losses) on the foreign cross currency swaps designated as fair value hedges (in thousands):

	Three Months Ended September 30,
	2024		2023
Gain (loss) recognized in other comprehensive income (loss)	$	429	$	588
Gain (loss) recognized on cross-currency swap in interest (expense) income, net (amount excluded from effectiveness testing)	$	1,074	$	1,181
Gain (loss) recognized on cross-currency swap in other, net	$	(12,246)	$	9,271
Gain (loss) recognized on intercompany debt in other, net	$	12,246	$	(9,271)

We recognized the following gains (losses) on the foreign cross currency swaps designated as net investment hedges (in thousands):

	Three Months Ended September 30,
	2024		2023
Gain (loss) recognized in cumulative translation adjustment within other comprehensive income (loss)	$	(28,736)	$	23,436
Gain (loss) recognized from the excluded components in interest (expense) income, net	$	2,767	$	3,013

We recognized the following gains (losses) in the condensed consolidated statement of operations on derivatives not designated as hedging instruments (in thousands):

	Three Months Ended September 30,
	2024		2023
Gain (loss) recognized on foreign currency hedging instruments in other, net	$	42,783	$	(15,073)
Gain (loss) recognized on other foreign-currency-denominated transactions in other, net	(45,231)		17,646
Total	$	(2,448)	$	2,573