Derivatives and Hedging Activities (Tables)

9 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

As of March 31, 2025, 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	4	$	400,000

As of March 31, 2025, the Company had the following outstanding foreign currency derivatives that were used to hedge its foreign exchange risks:

Foreign Currency Derivative	Number of Instruments	Notional Sold		Notional Purchased
Foreign currency forward contract	6	£	14,642	€	17,350

As of March 31, 2025, 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	$	103,312

As of March 31, 2025, 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	$	25,453

As of March 31, 2025 and June 30, 2024, the following amounts were recorded on the consolidated balance sheets 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
	March 31, 2025		June 30, 2024		March 31, 2025		June 30, 2024
Intercompany loan receivable	$	26,671	$	26,465	$	206	$	(480	)

Schedule of 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 March 31, 2025:

	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	$	3,510	Accrued expenses and other current liabilities	$	—
Interest rate swaps	Other noncurrent assets		1,126	Other noncurrent liabilities		—
Cross-currency swaps	Prepaid expenses and other current assets		2,333	Accrued expenses and other current liabilities		—
Cross-currency swaps	Other noncurrent assets		—	Other noncurrent liabilities		8,161
Foreign currency forward contracts	Prepaid expenses and other current assets		—	Accrued expenses and other current liabilities		119
Total derivatives designated as hedging instruments		$	6,969		$	8,280

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, 2024:

	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	$	7,455	Accrued expenses and other current liabilities	$	—
Interest rate swaps	Other noncurrent assets		5,151	Other noncurrent liabilities		—
Cross-currency swaps	Prepaid expenses and other current assets		2,376	Accrued expenses and other current liabilities		—
Cross-currency swaps	Other noncurrent assets		—	Other noncurrent liabilities		3,333
Total derivatives designated as hedging instruments		$	14,982		$	3,333

Schedule of Hedges Included Cash Flow Hedges, Net Investment Hedges and Fair Value Hedges on Accumulated Other Comprehensive Income Loss

The following table presents the pre-tax effect of the Company’s cash flow hedges, net investment hedges, and fair value hedges on AOCL for the three and nine months ended March 31, 2025 and 2024:

	Amount of (Loss) Gain Recognized in AOCL on Derivatives
	Three Months Ended March 31,						Nine Months Ended March 31,
	2025			2024			2025			2024
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	(1,633	)	$	7,274		$	(2,611	)	$	5,028
Foreign currency forward contracts		152			(1	)		(304	)		50
Derivatives in net investment hedging relationships:
Cross-currency swaps		(3,512	)		2,322			(215	)		659
Derivatives in fair value hedging relationships:
Cross-currency swaps		(864	)		572			(52	)		163
	$	(5,857	)	$	10,167		$	(3,182	)	$	5,900

Schedule of Pre-tax Effect of Cash Flow Hedges, Net Investment Hedges and Fair Value Hedges on the Consolidated Statements of Operations, Recorded in Interest and Other Financing Expense, Net

The following table presents the pre-tax effect of the Company’s cash flow hedges, net investment hedges, and fair value hedges on the consolidated statements of operations, recorded in interest and other financing expense, net, for the three and nine months ended March 31, 2025 and 2024:

	Amount of Gain Reclassified from AOCL into Income (Expense)
	Three Months Ended March 31,						Nine Months Ended March 31,
	2025			2024			2025			2024
Derivatives in cash flow hedging relationships:
Interest and other financing expense, net:
Interest rate swaps	$	1,311		$	2,363		$	5,359		$	7,037
Foreign currency forward contracts		(92	)		—			36			—
Cost of sales:
Foreign currency forward contracts		(134	)		(10	)		(134	)		(10	)
Derivatives in net investment hedging relationships:
Cross-currency swaps		450			489			1,439			1,479
Derivatives in fair value hedging relationships:
Cross-currency swaps(1)		(995	)		122			146			369
	$	540		$	2,964		$	6,846		$	8,875

(1)Net of amount that is excluded from effectiveness testing. The amount of gain, excluded from effectiveness testing, reclassified from AOCL into income for the three months ended March 31, 2025 and 2024 was $104 and $122, respectively. The amount of gain, excluded from effectiveness testing, reclassified from AOCL into income for the nine months ended March 31, 2025 and 2024 was $351 and $369, respectively.