At September 30, 2020 and 2019, the Company’s Canadian subsidiary had CAN$3.4 million and CAN$9.3 million, respectively, of Canadian dollar denominated intercompany accounts payable owed to one of the Company’s U.S subsidiaries. In order to mitigate its exposure to movements in foreign currency rates between the U.S. dollar and Canadian dollar, the Company routinely enters into foreign currency forward contracts to hedge a portion of its exposure to changes in the value of the Canadian dollar. At September 30, 2019, the Company had a short-term hedge contract of CAN$7.0 million with a United States bank to reduce the impact on cash flows from movements in the Canadian dollar/U.S. dollar currency exchange rate, which was not designated as a hedge for accounting purposes. The Company had no hedge contracts at September 30, 2020.

The following table summarizes the gross fair value of all derivative instruments, which are not designated as hedging instruments and their location in the consolidated balance sheets (in thousands):

Derivative Instrument	Location	AS OF SEPTEMBER 30,
		2020		2019
Foreign Currency Forward Contracts	Accrued Expenses and Other Current Liabilities	$	—	$	4

The following table summarizes the impact of the Company’s derivatives on the consolidated statements of operations (in thousands):

		YEAR ENDED SEPTEMBER 30,
Derivative Instrument	Location	2020		2019
Foreign Currency Forward Contracts	Other Income (Expense)	$	154	$	552

Amounts in the above table include realized and unrealized derivative gains and losses.