Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Mar. 31, 2019

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



(in thousands)	March 31, 2019			June 30, 2018
Derivatives designated as hedging instruments
Other current assets - range forward contracts	$	862		$	799
Other current liabilities - range forward contracts	—			(5		)
Other assets - range forward contracts	—			27
Total derivatives designated as hedging instruments	862			821
Derivatives not designated as hedging instruments
Other current assets - currency forward contracts	—			839
Other current liabilities - currency forward contracts	(184		)	(202		)
Total derivatives not designated as hedging instruments	(184		)	637
Total derivatives	$	678		$	1,458

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



	Three Months Ended March 31,					Nine Months Ended March 31,
(in thousands)	2019			2018		2019		2018
Other income, net - currency forward contracts	$	(11	)	$	182	$	65	$	(26	)

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



	Three Months Ended March 31,					Nine Months Ended March 31,
(in thousands)	2019		2018			2019		2018
Gains (losses) recognized in other comprehensive income (loss), net	$	695	$	(782	)	$	603	$	(1,688	)
Losses reclassified from accumulated other comprehensive loss into other income, net	$	403	$	761		$	1,500	$	2,024

As of March 31, 2019, 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	€	40,287	$	45,250	June 27, 2019
Foreign currency-denominated intercompany loan payable	30,074		33,780		June 27, 2019
Foreign currency-denominated intercompany loan payable	27,925		31,366		June 26, 2022
Foreign currency-denominated intercompany loan payable	6,527		7,332		November 20, 2021
Foreign currency-denominated intercompany loan payable	2,028		2,278		October 11, 2019

⁽²⁾ Includes principal and accrued interest.