DERIVATIVES AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

As of September 30, 2022, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

Interest Rate Derivative	Number of Instruments	Notional Amount
Interest rate swap	8	$630,000

As of September 30, 2022, the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations:

Foreign Currency Derivative	Number of Instruments	Notional Sold	Notional Purchased
Cross-currency swap	4	€100,300	$105,804

As of September 30, 2022, the Company had the following outstanding foreign currency derivatives that were used to hedge changes in fair value attributable to foreign exchange risk:

Foreign Currency Derivative	Number of Instruments	Notional Sold	Notional Purchased
Cross-currency swap	1	€24,700	$26,021

As of September 30, 2022 and June 30, 2022, the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges:

	Carrying Amount of the Hedged Asset				Cumulative Amount of Fair Value Hedge Adjustment Included in the Carrying Amount of the Hedged Asset
	September 30, 2022		June 30, 2022		September 30, 2022		June 30, 2022
Intercompany loan receivable	$	24,211	$	25,899	$	1,688	$	122

Derivative Financial Instruments and Classification on Consolidated Balance Sheets

The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheet as of September 30, 2022:

	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate swaps	Prepaid expenses and other current assets	$	15,161	Accrued expenses and other current liabilities / Other noncurrent liabilities	$	—
Cross-currency swaps	Prepaid expenses and other current assets	10,435		Other noncurrent liabilities	—
Total derivatives designated as hedging instruments		$	25,596		$	—

The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheet as of June 30, 2022:

	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate swaps	Prepaid expenses and other current assets	$	4,230	Accrued expenses and other current liabilities / Other noncurrent liabilities	$	3,184
Cross-currency swaps	Prepaid expenses and other current assets	3,246		Other noncurrent liabilities	—
Total derivatives designated as hedging instruments		$	7,476		$	3,184

Pre-Tax Effect of Hedge Accounting on Accumulated Other Comprehensive Loss

The following table presents the pre-tax effect of cash flow hedge accounting on AOCL for the three months ended September 30, 2022 and 2021:

Derivatives in Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in AOCL on Derivatives				Location of Gain (Loss) Reclassified from AOCL into Income (Expense)	Amount of Gain (Loss) Reclassified from AOCL into Income (Expense)
	Three Months Ended September 30,					Three Months Ended September 30,
	2022		2021			2022		2021
Interest rate swaps	$	15,262	$	(117)	Interest and other financing expense, net	$	1,146	$	(104)
Cross-currency swaps	—		776		Interest and other financing expense, net / Other (income) expense, net	(115)		738
Foreign currency forward contracts	—		19		Cost of sales	—		—
Total	$	15,262	$	678		$	1,031	$	634

The following table presents the pre-tax effect of fair value hedge accounting on AOCL for the three months ended September 30, 2022 and 2021:

Derivatives in Fair value Hedging Relationships	Amount of Gain Recognized in AOCL on Derivatives				Location of Gain Reclassified from AOCL into Income on Derivatives (Amount Excluded from Effectiveness Testing)	Amount of Gain Reclassified from AOCL into Income on Derivatives (Amount Excluded from Effectiveness Testing)
	Three Months Ended September 30,					Three Months Ended September 30,
	2022		2021			2022		2021
Cross-currency swaps	$	1,539	$	—	Interest and other financing expense, net	$	123	$	—
Total	$	1,539	$	—		$	123	$	—

Pre-Tax Effect of Derivative Financial Instruments Electing Hedge Accounting on Consolidated Statements of Operations

The following table presents the pre-tax effect of the Company’s derivative financial instruments electing cash flow hedge accounting on the Consolidated Statements of Operations for the three months ended of September 30, 2022 and 2021:

				Location and Amount of Gain (Loss) Recognized in the Consolidated Statements of Operations on Cash Flow Hedging Relationships
				Three Months Ended September 30, 2022						Three Months Ended September 30, 2021
				Cost of sales		Interest and other financing expense, net		Other expense/income, net		Cost of sales		Interest and other financing expense, net		Other expense/income, net
The effects of cash flow hedging:
	Gain (Loss) on cash flow hedging relationships
		Interest rate swaps
			Amount of gain (loss) reclassified from AOCL into income	$	—	$	1,146	$	—	$	—	$	(104)	$	—
		Cross-currency swaps
			Amount of (loss) gain reclassified from AOCL into income	$	—	$	(115)	$	—	$	—	$	41	$	697

The following table presents the pre-tax effect of the Company’s derivative financial instruments electing fair value hedge accounting on the Consolidated Statements of Operations as of September 30, 2022 and 2021:

				Location and Amount of Gain Recognized in the Consolidated Statements of Operations on Fair Value Hedging Relationships
				Three Months Ended September 30, 2022						Three Months Ended September 30, 2021
				Cost of sales		Interest and other financing expense, net		Other expense (income), net		Cost of sales		Interest and other financing expense, net		Other expense (income), net
The effects of fair value hedging:
	Gain on fair value hedging relationships
		Cross-currency swaps
			Amount of gain reclassified from AOCL into income	$	—	$	123	$	1,688	$	—	$	—	$	—

Pre-Tax Effect of Net Investment Hedges on Accumulated Other Comprehensive Loss and the Consolidated Statements of Operations

The following table presents the pre-tax effect of the Company’s net investment hedges on AOCL and the Consolidated Statements of Operations for the three months ended September 30, 2022 and 2021:

Derivatives in Net Investment Hedging Relationships	Amount of Gain Recognized in AOCL on Derivatives				Location of (Loss) Gain Recognized in Income (Expense) on Derivatives	Amount of (Loss) Gain Recognized in Income (Expense) on Derivatives
	Three Months Ended September 30,					Three Months Ended September 30,
	2022		2021			2022		2021
Cross-currency swaps	$	6,268	$	2,417	Interest and other financing expense, net	$	(495)	$	130