Derivative Contracts (Tables)

3 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table sets forth the notional amounts of our hedging derivative instruments as of September 30, 2022 (in thousands, except for average interest rate):

	Notional Amounts of Derivative Instruments
	Notional Amount by Term to Maturity								Classification by Notional Amount
	Under 12 months		Over 12 months			Total			Cash Flow Hedge			Non Hedge		Total
Forward contracts	$	588,272	$	42,679		$	630,951		$	461,595		$	169,356	$	630,951
Interest rate swaps:
Notional amount	$	—	$	650,000		$	650,000		$	650,000		$	—	$	650,000
Average interest rate			0.81		%	0.81		%	0.81		%			0.81		%

The following table sets forth the notional amounts of our hedging derivative instruments as of June 30, 2022 (in thousands, except for average interest rate):

	Notional Amounts of Derivative Instruments
	Notional Amount by Term to Maturity								Classification by Notional Amount
	Under 12 months		Over 12 months			Total			Cash Flow Hedge			Non Hedge		Total
Forward contracts	$	612,523	$	37,015		$	649,538		$	401,534		$	248,004	$	649,538
Interest rate swaps:
Notional amount	$	—	$	650,000		$	650,000		$	650,000		$	—	$	650,000
Average interest rate			0.81		%	0.81		%	0.81		%			0.81		%

Schedule of Fair Value of Derivative Instruments

The fair value of the Company’s derivative instruments were as follows (in thousands):

	Balance Sheet Location	September 30, 2022		June 30, 2022
Derivative assets
Derivatives designated as hedging instruments:
Interest rate swaps	Prepaid expenses and other current assets	21,282		13,296
Interest rate swaps	Other assets	40,991		30,367
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Prepaid expenses and other current assets	228		389
Total derivative assets		$	62,501	$	44,052
Derivative liabilities
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	Accrued expenses and other current liabilities	$	31,003	$	18,208
Foreign exchange forward contracts	Other non-current liabilities	1,802		812
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Accrued expenses and other current liabilities	4,716		5,080
Total derivative liabilities		$	37,521	$	24,100

Schedule of Pre-Tax Effects of Derivatives Designated as Cash Flow Hedging Instruments

The pre-tax effects of derivatives designated as cash flow hedging instruments on the condensed consolidated financial statements were as follows (in thousands):

	Three Months Ended September 30,
	2022		2021
Beginning balance of accumulated gains (losses) in accumulated other comprehensive loss	$	24,502	$	(2,936)
Gross unrealized gains (losses) recognized in other comprehensive loss	286		(13,859)
Net (gains) losses reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:
Recognized in cost of revenues	514		(180)
Recognized in research and development	3,479		869
Recognized in marketing and sales	406		(45)
Recognized in general and administrative	1,581		(329)
Recognized in finance cost	(2,297)		783
Ending balance of accumulated gains (losses) in accumulated other comprehensive income (loss)	$	28,471	$	(15,697)