Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Sep. 30, 2017

The fair value of derivatives designated and not designated as hedging instruments in the condensed consolidated balance sheet are as follows:



(in thousands)	September 30, 2017			June 30, 2017
Derivatives designated as hedging instruments
Other current assets - range forward contracts	$	38		$	1
Other current liabilities - range forward contracts	(1,510		)	(671		)
Other assets - range forward contracts	15			—
Other liabilities - range forward contracts	—			(101		)
Total derivatives designated as hedging instruments	(1,457		)	(771		)
Derivatives not designated as hedging instruments
Other current assets - currency forward contracts	110			358
Other current liabilities - currency forward contracts	(164		)	(138		)
Total derivatives not designated as hedging instruments	(54		)	220
Total derivatives	$	(1,511	)	$	(551	)

Gains related to derivatives not designated as hedging instruments have been recognized as follows:



	Three Months Ended September 30,
(in thousands)	2017			2016
Other expense, net - currency forward contracts	$	(116	)	$	(318	)

The following represents gains and losses related to cash flow hedges:



	Three Months Ended September 30,
(in thousands)	2017			2016
Losses recognized in other comprehensive loss, net	$	(619	)	$	(125	)
Losses reclassified from accumulated other comprehensive loss into other expense, net	$	392		$	386

As of September 30, 2017, the foreign currency-denominated intercompany loans payable designated as net investment hedges consisted of:



Instrument	Notional (EUR in thousands)⁽²⁾		Notional (USD in thousands)⁽²⁾		Maturity
Foreign currency-denominated intercompany loan payable	€	26,728	$	31,616	June 26, 2022
Foreign currency-denominated intercompany loan payable	8,653		10,235		November 20, 2018
Foreign currency-denominated intercompany loan payable	2,041		2,414		October 11, 2019

⁽²⁾ Includes principal and accrued interest.