Company: AFRM
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001820953-25-000052
Chunk: 47

Company: Affirm Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 $0.1 million and $2.6 million, respectively, within other income, net in the interim consolidated statement of operations and comprehensive income (loss). For the three and nine months ended March 31, 2024, there were no upward or downward adjustments due to observable changes in orderly transactions. Fixed Term Deposits Our fixed term deposits matured as of March 31, 2025. For the period ending June 30, 2024, fixed term deposits were $35.2 million. Fixed term deposits consisted of interest bearing deposits held at financial institutions with original maturities greater than three months but no more than twelve months. These deposits were carried at cost, which approximates fair value, and were included in other assets within the interim condensed consolidated balance sheets.

11.   Derivative Financial Instruments

The following table summarizes the total fair value, including interest accruals, and outstanding notional amounts of derivative instruments as of March 31, 2025 and June 30, 2024 (in thousands):March 31, 2025June 30, 2024Notional AmountDerivative AssetsDerivative LiabilitiesNotional AmountDerivative AssetsDerivative LiabilitiesDerivatives designated as cash flow hedgesInterest rate contracts - cash flow hedges$— $— $— $150,000 $4 $— Derivatives not designated as hedgesInterest rate contracts412,489 3,808 86 854,589 17,203 38 Total gross derivative assets/liabilities$412,489 $3,808 $86 $1,004,589 $17,207 $38 

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The following table summarizes the impact of the cash flow hedges on Accumulated Other Comprehensive Income (“AOCI”) (in thousands):Three Months Ended March 31,Nine Months Ended March 31,2025202420252024Balance at beginning of period$(174)$900 $1,407 $751 Changes in fair value(1,205)1,085 (2,478)1,996 Amounts reclassified into earnings (1)(74)(335)(382)(1,097)Balance at end of period (2)$(1,453)$1,650 $(1,453)$1,650 (1)The amounts reclassified into earnings are presented in the interim consolidated statements of income within funding costs.(2)As of March 31,