v3.26.1
Derivatives and Hedging Activities - 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 (Details) - Reclassification out of Accumulated Other Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Interest and other financing expense, net $ 1,733 $ 540 $ 5,333 $ 6,846
Cross-currency swaps | Cash Flow Hedging | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Interest and other financing expense, net        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Interest and other financing expense, net 0 (92) 0 36
Cross-currency swaps | Fair Value Hedging | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Interest and other financing expense, net [1] 630 (995) 859 146
Cross-currency swaps | Net Investment Hedging        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Interest and other financing expense, net 474 450 1,442 1,439
Interest Rate Swap | Cash Flow Hedging | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Interest and other financing expense, net        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Interest and other financing expense, net 666 1,311 3,017 5,359
Foreign currency forward contracts | Cash Flow Hedging | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Cost of sales        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Interest and other financing expense, net $ (37) $ (134) $ 15 $ (134)
[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, 2026 and 2025 was $109 and $104, respectively. The amount of gain, excluded from effectiveness testing, reclassified from AOCL into income for the nine months ended March 31, 2026 and 2025 was $331 and $351, respectively.

 

Non-Designated Hedges

Derivatives not designated as hedges are not speculative and are used to manage the Company’s exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements and/or the Company has not elected to apply hedge accounting. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings.

During the nine months ended March 31, 2026, the Company entered into auto-cancellable Target Redemption Forward (“TARF”) contracts to buy up to €13,800, as part of its strategy to manage exposure to certain Euro-denominated liabilities across 13 defined bi-weekly fixed ranges over a six-month period from January 2026 to June 2026. During the three months ended March 31, 2026, the Company recorded a loss of $44 on such TARF contracts, which is included in other expense, net in the consolidated statements of operations.

 

Asset Derivatives

 

 

Liability Derivatives

 

 

Balance Sheet
Location

 

Fair Value

 

 

Balance Sheet
Location

 

Fair Value

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

Target Redemption Forward

 

Prepaid expenses and other current assets

 

$

 

 

Accrued expenses and other current liabilities

 

$

44