Annual report pursuant to Section 13 and 15(d)

Note 16. Derivative Instruments and Hedging Activities (Tables)

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Note 16. Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Jun. 30, 2011
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The location and fair value amounts of the Company’s derivative instruments reported in its Consolidated Balance Sheets as of June 30, 2011 and 2010 were as follows:
 
Asset Derivatives
 
Liability Derivatives
 
Balance Sheet Location
 
June 30,
2011
 
June 30,
2010
 
Balance Sheet Location
 
June 30,
2011
 
June 30,
2010
(In thousands)
 
Fair Value
 
 
 
Fair Value
Derivatives designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
Other current assets
 
$
145

 
$
125

 
Other current liabilities
 
$
475

 
$
2,033

Total derivatives designated as hedging instruments
 
 
$
145

 
$
125

 
 
 
$
475

 
$
2,033

Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
Other current assets
 
$
1,825

 
$
171

 
Other current liabilities
 
$
1,652

 
$
3,791

Total derivatives not designated as hedging instruments
 
 
$
1,825

 
$
171

 
 
 
$
1,652

 
$
3,791

Total derivatives
 
 
$
1,970

 
$
296

 
 
 
$
2,127

 
$
5,824

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The location and amounts of designated and non-designated derivative instruments’ gains and losses reported in the consolidated financial statements for the fiscal years ended June 30, 2011 and 2010 were as follows:
 
(In thousands)
Location in Financial Statements
As of
June 30, 2011
 
As of
June 30, 2010
Derivatives Designated as Hedging Instruments
 
 
 
 
Gain (loss) in accumulated OCI on derivatives (effective portion)
Accumulated OCI
$
47

 
$
(2,274
)
Loss reclassified from accumulated OCI into income (effective portion):
Revenues
$
(2,491
)
 
$
(1,399
)
 
Costs of revenues
531

 
(493
)
 
Total loss reclassified from accumulated OCI into income (effective portion)
$
(1,960
)
 
$
(1,892
)
Gain (loss) recognized in income on derivatives (ineffectiveness portion and amount excluded from effectiveness testing)
Interest income and other, net
$
468

 
$
(398
)
Derivatives Not Designated as Hedging Instruments
 
 
 
 
Loss recognized in income
Interest income and other, net
$
(2,024
)
 
$
(15,182
)
Schedule Of Notional Amounts Of Outstanding Derivative Positions
The U.S. dollar equivalent of all outstanding notional amounts of hedge contracts, with maximum maturity of 13 months, as of June 30, 2011 and 2010 was as follows:
(In thousands)
As of
June 30, 2011
 
As of
June 30, 2010
Cash flow hedge contracts
 
 
 
Purchase
$
3,381

 
$
15,835

Sell
$
30,133

 
$
32,853

Other foreign currency hedge contracts
 
 
 
Purchase
$
174,499

 
$
82,535

Sell
$
216,738

 
$
104,414

Derivative Activity in Accumulated Other Comprehensive Income
The following table provides the balances and changes in the accumulated other comprehensive income (loss) related to derivative instruments for the fiscal year ended June 30, 2011:
(In thousands)
Year ended
June 30, 2011
Beginning balance
$
(1,995
)
Amount reclassified to income
1,960

Net change
47

Ending balance
$
12