Company: TEAM
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001650372-25-000009
Chunk: 15

Company: Atlassian Corp
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 HedgeNon HedgeTotalForward contracts$837,182 $71,701$908,883$651,303$257,580 $908,883

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The fair value of the Company’s derivative instruments were as follows (in thousands):Balance Sheet LocationDecember 31, 2024June 30, 2024Derivative assetsDerivatives designated as hedging instruments:Foreign exchange forward contractsPrepaid expenses and other current assets$— $8,255 Foreign exchange forward contractsOther non-current assets— 867 Derivatives not designated as hedging instruments:Foreign exchange forward contractsPrepaid expenses and other current assets457 170 Total derivative assets$457 $9,292 Derivative liabilitiesDerivatives designated as hedging instruments:Foreign exchange forward contractsAccrued expenses and other current liabilities$31,153 $1,197 Foreign exchange forward contractsOther non-current liabilities3,600 7 Derivatives not designated as hedging instruments:Foreign exchange forward contractsAccrued expenses and other current liabilities6,157 497 Total derivative liabilities$40,910 $1,701 The pre-tax effects of derivatives designated as cash flow hedging instruments on the condensed consolidated financial statements were as follows (in thousands):Three Months Ended December 31,Six Months Ended December 31,2024202320242023Beginning balance of accumulated gains in accumulated other comprehensive income (loss)$51,930 $35,583 $41,424 $48,170 Gross unrealized gains (losses) recognized in other comprehensive income (loss)(57,867)17,413 (39,852)9,343 Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income (loss) into profit or loss:Recognized in cost of revenues32 533 (11)976 Recognized in research and development(2,049)3,738 (2,489)5,202 Recognized in marketing and sales(48)531 9 901 Recognized in general and administrative(400)1,079 (328)1,779 Recognized in interest expense(6,865)(7,571)(14,020)(15,065)Ending balance of accumulated gains (losses) in accumulated other comprehensive income (loss)$(15,267)$51,306 $(15,267)$51,306 

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6. Property and Equipment