Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instruments

The following table presents our assets and liabilities related to derivative instruments on a gross basis within the condensed consolidated balance sheets (in thousands):

	December 31, 2024		June 30, 2024		Balance Sheet Caption
Derivative Assets
Designated as Hedging Instruments
Foreign cross-currency swaps – Fair Value Hedge	$	1,555	$	—	Prepaid taxes and other non-current assets
Foreign cross-currency swaps – Net Investment Hedge	5,043		—		Prepaid taxes and other non-current assets
Not Designated as Hedging Instruments
Foreign currency hedging instruments	5,958		2,343		Prepaid taxes and other non-current assets
Foreign currency hedging instruments	—		89		Prepaid taxes and other non-current assets
Total derivative assets	$	12,556	$	2,432
Derivative Liabilities
Designated as Hedging Instruments
Foreign cross-currency swaps – Fair Value Hedge	$	—	$	10,472	Other long-term liabilities
Foreign cross-currency swaps – Net Investment Hedge	—		21,270		Other long-term liabilities
Not Designated as Hedging Instruments
Foreign currency hedging instruments	18,228		4,654		Accrued expenses
Foreign currency hedging instruments	—		142		Other long-term liabilities
Total derivative liabilities	$	18,228	$	36,538

Schedule of Derivative Gains (Losses)

We recognized the following gains (losses) on the foreign cross currency swaps designated as fair value hedges (in thousands):

	Three Months Ended December 31,				Six Months Ended December 31,
	2024		2023		2024		2023
Gain (loss) recognized in other comprehensive income (loss)	$	1,657	$	2,002	$	2,086	$	2,590
Gain (loss) recognized on cross-currency swap in interest (expense) income, net (amount excluded from effectiveness testing)	$	1,128	$	881	$	2,202	$	2,061
Gain (loss) recognized on cross-currency swap in other, net	$	22,187	$	(13,003)	$	9,942	$	(3,732)
Gain (loss) recognized on intercompany debt in other, net	$	(22,187)	$	13,003	$	(9,942)	$	3,732

We recognized the following gains (losses) on the foreign cross currency swaps designated as net investment hedges (in thousands):

	Three Months Ended December 31,				Six Months Ended December 31,
	2024		2023		2024		2023
Gain (loss) recognized in cumulative translation adjustment within other comprehensive income (loss)	$	55,049	$	(27,828)	$	26,313	$	(4,393)
Gain (loss) recognized from the excluded components in interest (expense) income, net	$	2,885	$	2,293	$	5,652	$	5,306

We recognized the following gains (losses) in the condensed consolidated statement of operations on derivatives not designated as hedging instruments (in thousands):

	Three Months Ended December 31,				Six Months Ended December 31,
	2024		2023		2024		2023
Gain (loss) recognized on foreign currency hedging instruments in other, net	$	(46,228)	$	30,654	$	(3,445)	$	15,581
Gain (loss) recognized on other foreign-currency-denominated transactions in other, net	46,653		(31,435)		1,421		(13,789)
Total	$	425	$	(781)	$	(2,024)	$	1,792