The fair values of outstanding derivative instruments are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of
September 30, 2024 | | As of
June 30, 2024 | | 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) | $ | 418 | | | $ | — | | | $ | — | | | $ | (828) | | | Net investment hedge | | Prepaid expenses and other current assets (Accounts payable and accrued liabilities) | 52 | | | (114,263) | | | 654 | | | (88,186) | | Total derivatives designated as hedges | | | 470 | | | (114,263) | | | 654 | | | (89,014) | | | | | | | | | | | | | Derivatives not designated as hedges: | | | | | | | | | | | Cross currency swap contracts | | Prepaid expenses and other current assets (Accounts payable and accrued liabilities) | 402 | | | (95,155) | | | 1,473 | | | (70,220) | | Total derivatives not designated as hedges | | | 402 | | | (95,155) | | | 1,473 | | | (70,220) | | | Total derivatives | | | $ | 872 | | | $ | (209,418) | | | $ | 2,127 | | | $ | (159,234) | |
The effects of gains (losses) from derivative instruments on our Condensed Consolidated Statements of Income is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Instrument | | Income Statement Location | | 2024 | | 2023 | | Derivatives designated as hedges: | | | | | | | | Cash flow hedge | | Operating expenses | | $ | (356) | | | $ | (12) | | | Net investment hedge | | Interest and other related expense, net | | 727 | | | 922 | | | | | | | | | | Derivatives not designated as hedges: | | | | | | | | Cross currency swap contracts | | Other income (expense), net | | (24,935) | | | 17,895 | | | Cross currency swap contracts | | Interest and other related expense, net | | 681 | | | 856 | | | Total | | | | $ | (23,883) | | | $ | 19,661 | |
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