Derivatives (Tables)

9 Months Ended

Mar. 31, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Foreign Exchange Contracts, Primarily Forward Contracts

At March 31, 2016 and June 30, 2015, we had outstanding foreign exchange contracts, primarily forward contracts, which are summarized below:

	March 31, 2016					June 30, 2015
	GrossNotional Value		Fair Value Asset/ (Liability)(1)			Gross Notional Value		Fair Value Asset/ (Liability)(1)
Currency Hedged (Buy/Sell):
U.S. Dollar/Euro	$	1,597,741	$	131,760		$	1,479,685	$	208,532
Indian Rupee/U.S. Dollar		238,125		599			205,150		(935	)
Euro/U.S. Dollar		157,419		(1,904	)		153,549		(15,994	)
Mexican Pesos/U.S. Dollar		14,697		529			0		0
Chinese Yuan/U.S. Dollar		13,512		(44	)		0		0
Japanese Yen/Euro		8,528		504			0		0
Euro/Russian Rubles		3,428		(347	)		5,963		(865	)
U.S. Dollar/Brazilian Real		3,349		(389	)		6,148		318
U.S. Dollar/Russian Rubles		2,157		(133	)		1,613		24
Russian Rubles/U.S. Dollar		1,099		43			0		0
U.S. Dollar/Australian Dollar		766		(52	)		0		0
Swiss Franc/Euro		-		-			32,050		4,262
Total	$	2,040,821	$	130,566		$	1,884,158	$	195,342

⁽¹⁾ Represents the net receivable/(payable) included in our Condensed Consolidated Balance Sheets within Other current assets, Other assets, Accrued liabilities and Other non-current liabilities, as applicable.

Summary of Fair Value Amounts of Derivative Instruments

The following tables provide a summary of the fair value amounts of our derivative instruments as of March 31, 2016 and June 30, 2015:

		Fair Value
Derivatives Designated as Cash Flow Hedges, Gross:	Balance Sheet Location	March 31, 2016		June 30, 2015
Other assets:
Foreign exchange contracts	Other current assets	$	56,852	$	73,082
Foreign exchange contracts	Other assets		68,815		121,496
Total assets			125,667		194,578
Other liabilities:
Foreign exchange contracts	Accrued liabilities	$	1,886	$	1,034
Foreign exchange contracts	Other non-current liabilities		2,153		1,654
Total liabilities			4,039		2,688
Net asset for derivatives designated as hedging    instruments		$	121,628	$	191,890
Derivatives Designated as Economic Hedges, Gross:
Other assets:
Foreign exchange contracts	Other current assets	$	14,209	$	20,226
Foreign exchange contracts	Other assets		22		85
Total assets			14,231		20,311
Other liabilities:
Foreign exchange contracts	Accrued liabilities	$	3,746	$	13,288
Foreign exchange contracts	Other non-current liabilities		1,547		3,571
Total liabilities			5,293		16,859
Net asset for economic hedges:		$	8,938	$	3,452
Total net derivative asset		$	130,566	$	195,342

Schedule of Derivative Activity for Derivatives Designated as Cash Flow Hedges

The following tables show derivative activity for derivatives designated as cash flow hedges for the three months ended March 31, 2016 and 2015:

Derivative	Location of Derivative Gain/(Loss) Recognized in Income	Gain/(Loss) Reclassified from AOCI into Income (Effective Portion)						Gain/(Loss) Recognized in Income on Derivatives (Ineffective Portion)					Gain/(Loss) from Amounts Excluded from Effectiveness Testing
		Three Months Ended March 31,
		2016			2015			2016			2015		2016		2015
Foreign exchange contracts	Cost of sales	$	24,354		$	15,392		$	(316	)	$	174	$		$	-
Foreign exchange contracts	SG&A		(427	)		(3	)		-			-		-		-
Foreign exchange contracts	Foreign exchange losses    (gains), net		-			-			-			-		1		(9	)
Interest rate lock	Interest expense, net		(5	)		-			-			-		-		-
Total cash flow hedges		$	23,922		$	15,389		$	(316	)	$	174	$	1	$	(9	)

Derivative	Gain/(Loss) Recognized in AOCI (Effective Portion)
	Three Months Ended March 31,
	2016			2015
Foreign exchange contracts	$	(51,488	)	$	148,115

The following tables show derivative activity for derivatives designated as cash flow hedges for the nine months ended March 31, 2016 and 2015:

Derivative	Location of Derivative Gain/(Loss) Recognized in Income	Gain/(Loss) Reclassified from AOCI into Income (Effective Portion)					Gain/(Loss) Recognized in Income on Derivatives (Ineffective Portion)					Gain/(Loss) from Amounts Excluded from Effectiveness Testing
		Nine months ended March 31,
		2016			2015		2016			2015		2016		2015
Foreign exchange contracts	Cost of sales	$	67,653		$	21,942	$	(432	)	$	2,197	$		$	-
Foreign exchange contracts	SG&A		(403	)		215		-			-		-		-
Foreign exchange contracts	Foreign exchange losses    (gains), net		-			-		-			-		-		(18	)
Interest rate lock	Interest expense, net		(15	)		-		-			-		-		-
Total cash flow hedges		$	67,235		$	22,157	$	(432	)	$	2,197	$	-	$	(18	)

Derivative	Gain/(Loss) Recognized in AOCI (Effective Portion)
	Nine months ended March 31,
	2016			2015
Foreign exchange contracts	$	(40	)	$	311,226

Summary of Gains and Losses from Derivative Instruments that are Not Designated as Hedging Instruments

The following table summarizes gains and losses from our derivative instruments that are not designated as hedging instruments for the three and nine months ended March 31, 2016 and 2015:

		Three Months Ended March 31,						Nine months ended March 31,
Derivative	Location of Derivative Gain/(Loss)	2016			2015			2016			2015
Foreign exchange contracts	Cost of sales	$	(4,740	)	$	13,473		$	(251	)	$	25,606
Foreign exchange contracts	Foreign exchange losses (gains),    net		4,770			(17,450	)		1,291			(39,822	)