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69
June 30, 2014
Asset Derivatives Liability Derivatives
Derivatives designated as
hedging instruments
Balance
Sheet line
item
Gross
amounts of
recognized
assets
Gross amount
offset in
consolidated
balance sheet Net amount
Balance
Sheet line
item
Gross
amounts of
recognized
liabilities
Gross amount
offset in
consolidated
balance sheet Net amount
Interest rate swaps . . . .
Other
non-
current
assets $ — $ — $ —
Other
current
liabilities /
other
liabilities $ (771)$ 26 $ (745)
Total derivatives
designated as hedging
instruments . . . . . . . . . . $—$ —$— $
(771)$ 26 $ (745)
Derivatives not
designated as hedging
instruments
Currency forward
contracts . . . . . . . . . . . .
Other
current
assets $ 410 $ (28) $ 382
Other
current
liabilities $ (1,058) $ 252 $(806)
Total derivatives not
designated as hedging
instruments . . . . . . . . . . $ 410 $ (28) $ 382 $ (1,058) $ 252 $(806)
The following table presents the effect of our derivative financial instruments designated as hedging
instruments and their classification within comprehensive income (loss) for the years ended June 30, 2015, 2014
and 2013:
Derivatives in Hedging Relationships
Amount of Gain (Loss) Recognized in Comprehensive
(Loss) Income on Derivatives (Effective Portion)
Year Ended June 30,
In thousands 2015 2014 2013
Currency contracts that hedge revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (107) 280
Currency contracts that hedge cost of revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . —59(263)
Currency contracts that hedge technology and development expense. . . . . . . . . . . . . . . . . —7080
Currency contracts that hedge general and administrative expense. . . . . . . . . . . . . . . . . . . —12 (1)
Interest rate swaps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,417) (1,319) 387
Cross-currency swaps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (7,779) — —
$ (9,196) $ (1,285) $ 483
The following table presents reclassifications out of accumulated other comprehensive (loss) income for the
years ended June 30, 2015, 2014 and 2013:
Details about Accumulated Other
Comprehensive (Loss) Income Components
Amount Reclassified from Accumulated Other
Comprehensive (Loss) Income to Net Income
Gain/(Loss)
Affected line item in the
Statement of Operations
Year Ended June 30,
In thousands 2015 2014 2013
Currency contracts that hedge revenue. . . . . . . . $—$(120) $ 293 Revenue
Currency contracts that hedge cost of revenue . . — (112)(92) Cost of revenue
Currency contracts that hedge technology and
development expense . . . . . . . . . . . . . . . . . . . . . —122 27 Technology and development expense
Currency contracts that hedge general and
administrative expense . . . . . . . . . . . . . . . . . . . . —11 1 General and administrative expense
Interest rate swaps . . . . . . . . . . . . . . . . . . . . . . . (1,087)(372) 189 Interest expense, net
Total before income tax (1,087)(471) 418 Income (loss) before income taxes and
loss in equity interests
Income tax 272 75 (21) Income tax provision
Total $(815)$ (396) $ 397
Form 10-K