STOCKHOLDERS’ EQUITY

Preferred Stock

The Company is authorized to issue “blank check” preferred stock of up to 5,000 shares with such designations, rights and preferences as may be determined from time to time by the Board of Directors. Accordingly, the Board of Directors is empowered to issue, without stockholder approval, preferred stock with dividends, liquidation, conversion, voting or other rights which could decrease the amount of earnings and assets available for distribution to holders of the Company’s Common Stock. At June 30, 2017 and 2016, no preferred stock was issued or outstanding.

Common Stock Issued

See Note 4, Acquisitions, for details surrounding issuance of the Company’s common stock in connection with recent acquisitions.

Accumulated Other Comprehensive Loss

The following tables present the changes in accumulated other comprehensive loss:



	Fiscal Year Ended June 30,
	2017			2016
Foreign currency translation adjustments:
Other comprehensive loss before reclassifications ⁽¹⁾	$	(22,951	)	$	(129,874	)
Deferred gains/(losses) on cash flow hedging instruments:
Other comprehensive income before reclassifications	196			4,666
Amounts reclassified into income ⁽²⁾	(575		)	(5,193		)
Unrealized gain on available for sale investment:
Other comprehensive loss before reclassifications	(51		)	(79		)
Amounts reclassified into income ⁽³⁾	13			—
Net change in accumulated other comprehensive loss	$	(23,368	)	$	(130,480	)


(1)	Foreign currency translation adjustments included intra-entity foreign currency transactions that were of a long-term investment nature of $18,385 and $107,221 for the fiscal years ended June 30, 2017 and 2016, respectively.


(2)	Amounts reclassified into income for deferred gains on cash flow hedging instruments are recorded in “Cost of sales” in the Consolidated Statements of Income and, before taxes, were $1,233 and $6,788 for the fiscal years ended June 30, 2017 and 2016, respectively.

(3)

Amounts reclassified into income for gains on sale of available for sale investments were based on the average cost of the shares held (See Note 13, Investments and Joint Ventures). Such amounts are recorded in “Other (income)/expense, net” in the Consolidated Statements of Income and was $21 before taxes for the fiscal year ended June 30, 2017. There were no amounts reclassified into income for the fiscal year ended June 30, 2016.