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Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Dec. 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)	December 31, 2019			June 30, 2019
Derivatives designated as hedging instruments
Other current assets - range forward contracts	$	211		$	145
Total derivatives designated as hedging instruments	211			145
Derivatives not designated as hedging instruments
Other current assets - currency forward contracts	—			8
Other current liabilities - currency forward contracts	(200		)	(56		)
Total derivatives not designated as hedging instruments	(200		)	(48		)
Total derivatives	$	11		$	97

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



	Three Months Ended December 31,						Six Months Ended December 31,
(in thousands)	2019			2018			2019		2018
Other income, net - currency forward contracts	$	(1	)	$	(2	)	$	112	$	76

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



	Three Months Ended December 31,				Six Months Ended December 31,
(in thousands)	2019		2018		2019		2018
Gains (losses) recognized in other comprehensive income (loss), net	$	461	$	170	$	856	$	(91	)
Losses reclassified from accumulated other comprehensive loss into cost of goods sold and other income, net	$	391	$	565	$	550	$	1,097

As of December 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	€	28,527	$	32,060	June 26, 2022
Foreign currency-denominated intercompany loan payable	20,028		22,508		November 22, 2021

⁽²⁾ Includes principal and accrued interest.