Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments and Hedging Activities (Tables)

v2.4.0.6
Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Sep. 30, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments, Location, Designated and Non-Designated, Gains (Losses)
The locations and amounts of designated and non-designated derivative instruments’ gains and losses reported in the condensed consolidated financial statements for the indicated periods were as follows:
 
 
Three months ended
September 30,
(In thousands)
Location in Financial Statements
2012
 
2011
Derivatives Designated as Hedging Instruments
 
 
 
 
Losses in accumulated OCI on derivatives (effective portion)
Accumulated OCI
$
(241
)
 
$
(1,194
)
Gains (losses) reclassified from accumulated OCI into income (effective portion):
Revenues
$
(491
)
 
$
(284
)
 
Costs of revenues
(601
)
 
61

 
Total losses reclassified from accumulated OCI into income (effective portion)
$
(1,092
)
 
$
(223
)
Gains recognized in income on derivatives (ineffectiveness portion and amount excluded from effectiveness testing)
Interest income and other, net
$
51

 
$
43

Derivatives Not Designated as Hedging Instruments
 
 
 
 
Gains (losses) recognized in income
Interest income and other, net
$
673

 
$
(12,568
)
Schedule of Notional Amounts of Derivatives Outstanding
The U.S. dollar equivalent of all outstanding notional amounts of hedge contracts, with maximum maturity of 13 months, as of the dates indicated below was as follows: 
(In thousands)
As of
September 30, 2012
 
As of
June 30, 2012
Cash flow hedge contracts
 
 
 
Purchase
$
6,162

 
$
14,689

Sell
$
28,420

 
$
29,362

Other foreign currency hedge contracts
 
 
 
Purchase
$
122,507

 
$
121,965

Sell
$
137,524

 
$
126,827

Schedule of Derivative Instruments, Fair Value
The locations and fair value amounts of the Company’s derivative instruments reported in its Condensed Consolidated Balance Sheets as of the dates indicated below were as follows: 
 
Asset Derivatives
 
Liability Derivatives
 
Balance Sheet Location
 
As of
September 30, 2012
 
As of
June 30, 2012
 
Balance Sheet Location
 
As of
September 30, 2012
 
As of
June 30, 2012
(In thousands)
 
Fair Value
 
 
 
Fair Value
Derivatives designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
Other current assets
 
$
324

 
$
128

 
Other current liabilities
 
$
130

 
$
736

Total derivatives designated as hedging instruments
 
 
$
324

 
$
128

 
 
 
$
130

 
$
736

Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
Other current assets
 
$
809

 
$
1,279

 
Other current liabilities
 
$
1,649

 
$
1,173

Total derivatives not designated as hedging instruments
 
 
$
809

 
$
1,279

 
 
 
$
1,649

 
$
1,173

Total derivatives
 
 
$
1,133

 
$
1,407

 
 
 
$
1,779

 
$
1,909

Balances and Changes in Accumulated Other Comprehensive Income Related to Derivative Instruments
The following table provides the balances and changes in accumulated other comprehensive income (loss) related to derivative instruments for the indicated periods:
 
Three months ended
September 30,
(In thousands)
2012
 
2011
Beginning balance
$
(962
)
 
$
12

Amount reclassified to income
1,092

 
223

Net change
(241
)
 
(1,194
)
Ending balance
$
(111
)
 
$
(959
)