| Schedule of Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets |
The fair values of outstanding derivative instruments are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of
March 31, 2024 | | As of
June 30, 2023 | | Instrument | | Balance Sheet Location | Asset | | Liability | | Asset | | Liability | | Derivatives designated as hedges: | | | | | | | | | | | Cash flow hedge | | Prepaid expenses and other current assets (Accounts payable and accrued liabilities) | $ | — | | | $ | (509) | | | $ | 1,530 | | | $ | — | | | Net investment hedge | | Prepaid expenses and other current assets (Accounts payable and accrued liabilities) | 243 | | | (98,774) | | | 596 | | | (87,855) | | Total derivatives designated as hedges | | | $ | 243 | | | $ | (99,283) | | | $ | 2,126 | | | $ | (87,855) | | | | | | | | | | | | Derivatives not designated as hedges: | | | | | | | | | | | Cross currency swap contracts | | Prepaid expenses and other current assets (Accounts payable and accrued liabilities) | 572 | | | (76,886) | | | 1,421 | | | (73,336) | | Total derivatives not designated as hedges | | | $ | 572 | | | $ | (76,886) | | | $ | 1,421 | | | $ | (73,336) | | | Total derivatives | | | $ | 815 | | | $ | (176,169) | | | $ | 3,547 | | | $ | (161,191) | |
The effects of gains (losses) from derivative instruments on our Condensed Consolidated Statements of Income is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
March 31, | | Nine Months Ended
March 31, | | Instrument | | Income Statement Location | | 2024 | | 2023 | | 2024 | | 2023 | | Derivatives designated as hedges: | | | | | | | | | | | | Cash flow hedge | | Operating expenses | | $ | (160) | | | $ | (951) | | | $ | (618) | | | $ | (3,249) | | | Net investment hedge | | Interest and other related expense, net | | 920 | | | 491 | | | 2,735 | | | 491 | | | | | | | | | | | | | | Derivatives not designated as hedges: | | | | | | | | | | | | Deal-contingent forward contract | | Other income (expense), net | | — | | | 9,072 | | | — | | | 9,357 | | | Non-contingent forward contract | | Other income (expense), net | | — | | | 2,489 | | | — | | | 9,052 | | | Cross currency swap contracts | | Other income (expense), net | | 16,671 | | | 23,197 | | | (3,551) | | | 6,495 | | | Cross currency swap contracts | | Interest and other related expense, net | | 854 | | | 627 | | | 2,540 | | | 627 | | | Total | | | | $ | 18,285 | | | $ | 34,925 | | | $ | 1,106 | | | $ | 22,773 | |
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| Schedule of Effects of Derivative Instruments on Income and Other Comprehensive Income (OCI) |
The effects of the cash flow and net investment hedges on our Condensed Consolidated Statements of Comprehensive Income: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income Location | | Three Months Ended
March 31, | | Nine Months Ended
March 31, | | | 2024 | | 2023 | | 2024 | | 2023 | | Gain (loss) recognized in OCI (loss) on cash flow hedge (effective portion) | Unrealized gain (loss) on cash flow hedge | | $ | (2,223) | | | $ | 53 | | | $ | (2,657) | | | $ | (3,187) | | | Gain (loss) recognized in OCI (loss) on net investment hedge (effective portion) | Net foreign currency translation adjustment | | $ | 15,096 | | | $ | (11,093) | | | $ | (10,919) | | | $ | (11,093) | | | Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedge | Operating expenses | | $ | (160) | | | $ | (951) | | | $ | (618) | | | $ | (3,249) | | | Gain (loss) reclassified from AOCI into income (excluded from effectiveness testing) - net investment hedge | Interest and other related expense, net | | $ | 561 | | | $ | 187 | | | $ | 1,683 | | | $ | 187 | |
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