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Derivatives (Tables)

6 Months Ended

Mar. 31, 2021

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Details of Derivatives Held to Manage Foreign Currency Risk

The following table provides details of the derivatives held as of March 31, 2021 and September 30, 2020 to manage foreign currency risk.

		Notional Amount
Description	Borrowing	March 31, 2021	September 30, 2020	Hedge Designation
Cross-Currency Swaps	3.4% Notes	USD 250 million swapped to EUR 223 million	USD 250 million swapped to EUR 223 million	Net investment
Forward Foreign Currency Contracts ⁽¹⁾	N/A	USD 29 million	USD 54 million	No designation

⁽¹⁾

As of March 31, 2021, Cabot’s forward foreign exchange contracts were denominated in Indonesian rupiah and Czech koruna. As of September 30, 2020, Cabot’s forward foreign exchange contracts were denominated in Canadian dollar, Indonesian rupiah and Czech koruna. At both March 31, 2021 and September 30, 2020 the fair value of these derivative instruments were a nominal amount.

Summary Impact of Cross-currency Swaps to AOCI and Consolidated Statements of Operations

The following table summarizes the impact of the cross-currency swaps to AOCI and the Consolidated Statements of Operations:

	Three Months Ended March 31
	2021			2020		2021			2020			2021		2020
Description	Gain/(Loss) Recognized in AOCI					(Gain)/Loss Reclassified from AOCI into Interest Expense in the Consolidated Statements of Operations						(Gain)/Loss Recognized in Interest Expense in the Consolidated Statements of Operations (Amount Excluded from Effectiveness Testing)
	(In millions)
Cross-currency swaps	$	(5	)	$	14	$	(2	)	$	(2	)	$	1	$	1

	Six Months Ended March 31
	2021			2020		2021			2020			2021		2020
Description	Gain/(Loss) Recognized in AOCI					(Gain)/Loss Reclassified from AOCI into Interest Expense in the Consolidated Statements of Operations						(Gain)/Loss Recognized in Interest Expense in the Consolidated Statements of Operations (Amount Excluded from Effectiveness Testing)
	(In millions)
Cross-currency swaps	$	(18	)	$	10	$	(3	)	$	(3	)	$	1	$	1

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details