| Schedule of information by level for financial assets and liabilities that are measured at fair value on a recurring basis |
The following tables provide information by level for financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):
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|
|
|
|
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|
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|
|
Total |
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|
|
|
|
|
|
|
|
|
|
|
carrying |
|
|
|
|
|
|
|
|
|
|
|
|
value as of |
|
Fair Value Measurements Using |
|
Balance Sheet Location |
|
September 30, |
|
Inputs Considered as |
|
|
|
2025 |
|
Level 1 |
|
Level 2 |
|
Level 3 |
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange traded securities(1) |
Other assets |
|
$ |
8,682 |
|
$ |
8,682 |
|
$ |
— |
|
$ |
— |
Derivatives designated as hedging instruments - cash flow hedges |
Other current assets |
|
|
1,141 |
|
|
— |
|
|
1,141 |
|
|
— |
Notes receivable(2) |
Other current assets |
|
|
4,873 |
|
|
— |
|
|
— |
|
|
4,873 |
Notes receivable(2) |
Other assets |
|
|
7,744 |
|
|
— |
|
|
— |
|
|
7,744 |
Total assets |
|
|
$ |
22,440 |
|
$ |
8,682 |
|
$ |
1,141 |
|
$ |
12,617 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives designated as hedging instruments - net investment hedge |
Other long-term liabilities |
|
$ |
16,481 |
|
$ |
— |
|
$ |
16,481 |
|
$ |
— |
Total liabilities |
|
|
$ |
16,481 |
|
$ |
— |
|
$ |
16,481 |
|
$ |
— |
(1)Exchange traded securities received from the buyer in the sale of Exosome Diagnostics.
(2)Notes receivable relate to the divestiture of our businesses held-for-sale.
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|
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|
|
|
|
|
|
|
|
Total |
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|
|
|
|
|
|
|
|
|
|
|
carrying |
|
|
|
|
|
|
|
|
|
|
|
|
value as of |
|
Fair Value Measurements Using |
|
Balance Sheet Location |
|
June 30, |
|
Inputs Considered as |
|
|
|
2025 |
|
Level 1 |
|
Level 2 |
|
Level 3 |
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives designated as hedging instruments - cash flow hedges |
Other current assets |
|
$ |
2,843 |
|
$ |
— |
|
$ |
2,843 |
|
$ |
— |
Note receivable(1) |
Other current assets |
|
|
3,078 |
|
|
— |
|
|
— |
|
|
3,078 |
Note receivable(1) |
Other assets |
|
|
2,184 |
|
|
— |
|
|
— |
|
|
2,184 |
Total assets |
|
|
$ |
8,105 |
|
$ |
— |
|
$ |
2,843 |
|
$ |
5,262 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives designated as hedging instruments - net investment hedge |
Other long-term liabilities |
|
$ |
18,034 |
|
$ |
— |
|
$ |
18,034 |
|
$ |
— |
Total liabilities |
|
|
$ |
18,034 |
|
$ |
— |
|
$ |
18,034 |
|
$ |
— |
| (1) |
Note receivable relates to the divestiture of our business held-for-sale. |
|
| Schedule of contractual amounts of the outstanding instruments |
The following table presents the contractual amounts of the Company's outstanding instruments (in millions):
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|
September 30, |
|
June 30, |
Instruments |
|
Designation |
|
2025 |
|
2025 |
Forward starting swaps(1) |
|
Cash flow hedge |
|
$ |
200 |
|
$ |
200 |
Cross-currency swap(2) |
|
Net investment hedge |
|
|
130 |
|
|
140 |
(1) |
In May 2021, the Company entered into a forward starting swap designated as a cash flow hedge on forecasted debt based on $200 million of notional principal. The effective date of the swap was November 2022 with the full swap maturing in November 2025. |
(2) |
In July 2023, the Company entered into a pay-fixed rate, receive-fixed rate cross-currency swap contract with a total notional amount of $150 million that was designated as a hedge to lock in the Swiss franc (CHF) rate for a portion of the Company's CHF net investment in its Lunaphore subsidiary in Switzerland. The objective of the hedge is to protect the net investment in the Company's CHF-denominated operations against changes in the spot exchange rates, on a pre-tax basis. The hedging instrument has three remaining interim settlement dates, which will reduce the notional on the hedging instrument by $10 million at each interim date, and will reduce the notional to $110 million at maturity. |
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| Schedule of pretax amount of the gains and losses on our hedging instruments and the classification of those gains and losses |
The pretax amount of the gains and losses on our hedging instruments and the classification of those gains and losses within our Condensed Consolidated Financial Statements for the quarters ended September 30, 2025 and 2024 were as follows (in thousands):
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|
|
|
|
|
|
(Gain) Loss Recognized in Accumulated Other Comprehensive Loss |
|
|
|
Quarter Ended |
|
|
|
September 30, |
|
|
|
2025 |
|
2024 |
Cash flow hedges |
|
|
|
|
|
|
|
Forward starting swaps |
|
|
$ |
3,009 |
|
$ |
5,010 |
Net investment hedges |
|
|
|
|
|
|
|
Cross-currency swap |
|
|
|
(717) |
|
|
5,165 |
Total |
|
|
$ |
2,292 |
|
$ |
10,175 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Gain) Loss Reclassified into Income |
|
|
|
|
|
|
|
|
|
Quarter Ended |
|
|
|
|
|
|
|
|
|
September 30, |
|
Income Statement |
|
|
|
2025 |
|
2024 |
|
Classification |
Cash flow hedges |
|
|
|
|
|
|
|
|
|
|
|
|
|
Forward starting swaps |
|
|
$ |
(1,921) |
|
$ |
(2,599) |
|
Interest expense |
Net investment hedges |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cross-currency swap |
|
|
|
(613) |
|
|
(782) |
|
Interest expense |
Total |
|
|
$ |
(2,534) |
|
$ |
(3,381) |
|
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|
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|