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Financial instruments (Tables)

3 Months Ended

Sep. 30, 2021

Carrying values and estimated fair values of long-term debt

The carrying value of long-term debt, which excludes the impact of net unamortized debt issuance costs, and estimated fair value of long-term debt are as follows:


	September 30, 2021		June 30, 2021
Carrying value of long-term debt	$	6,625,692	$	6,646,029
Estimated fair value of long-term debt	7,406,724		7,527,268

Fair value derivative instruments reported in consolidated balance sheet

The location and fair value of derivative financial instruments reported in the Consolidated Balance Sheet are as follows:


	Balance Sheet Caption	September 30, 2021		June 30, 2021
Net investment hedges


Cross-currency swap contracts	Other liabilities	$	53,723	$	71,798
Cash flow hedges
Forward exchange contracts	Non-trade and notes receivable	9,463		5,376
Forward exchange contracts	Other accrued liabilities	6,364		9,435
Costless collar contracts	Non-trade and notes receivable	807		110
Costless collar contracts	Other accrued liabilities	3,308		901

Derivative and non-derivative financial instruments, gain (losses) recorded in accumulated other comprehensive (loss)

Gains (losses) on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss) on the Consolidated Balance Sheet are as follows:


	Three Months Ended
	September 30,
		2021		2020
Cross-currency swap contracts		$	12,371	$	(17,134)
Foreign denominated debt		14,864		(25,727)

Financial assets and liabilities measured at fair value on a recurring basis

A summary of financial assets and liabilities that were measured at fair value on a recurring basis at September 30, 2021 and June 30, 2021 are as follows:


			Quoted Prices		Significant Other		Significant
	Fair		In Active		Observable		Unobservable
	Value at		Markets		Inputs		Inputs
	September 30, 2021		(Level 1)		(Level 2)		(Level 3)
Assets:
Equity securities	$	19,169	$	19,169	$	—	$	—



Derivatives	10,270		—		10,270		—

Liabilities:
Derivatives	63,395		—		63,395		—


			Quoted Prices		Significant Other		Significant
	Fair		In Active		Observable		Unobservable
	Value at		Markets		Inputs		Inputs
	June 30, 2021		(Level 1)		(Level 2)		(Level 3)
Assets:
Equity securities	$	20,517	$	20,517	$	—	$	—



Derivatives	5,486		—		5,486		—

Liabilities:
Derivatives	82,134		—		82,134		—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details