|
Derivative Instruments and Hedging Activities (Tables)
|
9 Months Ended |
|
Jun. 30, 2014
|
| Derivative Instruments and Hedging Activities |
|
| Schedule of notional principal amounts of the outstanding derivative instruments |
The following table shows the notional principal amounts of our outstanding derivative instruments as of June 30, 2014 and September 30, 2013 (in thousands):
|
|
|
Notional Principal |
|
|
|
|
June 30, 2014 |
|
September 30, 2013 |
|
|
Instruments designated as accounting hedges: |
|
|
|
|
|
|
Foreign currency forwards |
|
$ |
395,213 |
|
$ |
361,337 |
|
|
Forward starting swap |
|
— |
|
58,415 |
|
|
|
|
|
|
|
|
|
Instruments not designated as accounting hedges: |
|
|
|
|
|
|
Foreign currency forwards |
|
$ |
1,195 |
|
$ |
2,697 |
|
|
Forward starting swap |
|
55,962 |
|
— |
| |
| Schedule of fair value of derivative financial instruments |
The table below presents the fair value of our derivative financial instruments that qualify for hedge accounting as well as their classification in the Condensed Consolidated Balance Sheets as of June 30, 2014 and September 30, 2013 (in thousands):
|
|
|
|
|
Fair Value |
|
|
|
|
Balance Sheet Location |
|
June 30, 2014 |
|
September 30, 2013 |
|
|
Asset derivatives: |
|
|
|
|
|
|
|
|
Foreign currency forwards |
|
Other current assets |
|
$ |
8,223 |
|
$ |
1,597 |
|
|
Foreign currency forwards |
|
Other noncurrent assets |
|
5,629 |
|
4,957 |
|
|
Forward starting swap |
|
Other noncurrent assets |
|
164 |
|
1,139 |
|
|
|
|
|
|
$ |
14,016 |
|
$ |
7,693 |
|
|
Liability derivatives: |
|
|
|
|
|
|
|
|
Foreign currency forwards |
|
Other current liabilities |
|
$ |
8,811 |
|
$ |
2,360 |
|
|
Foreign currency forwards |
|
Other noncurrent liabilities |
|
5,832 |
|
5,366 |
|
|
Total |
|
|
|
$ |
14,643 |
|
$ |
7,726 |
|
|
| Schedule of gains and losses recognized in other comprehensive income (OCI) on derivative financial instruments designated as cash flow hedges |
The tables below present gains and losses recognized in other comprehensive income (OCI) for the three and nine months ended June 30, 2014 and 2013 related to derivative financial instruments designated as cash flow hedges, as well as the amount of gains and losses reclassified into earnings during those periods (in thousands):
|
|
|
Nine Months Ended |
|
|
|
|
June 30, 2014 |
|
June 30, 2013 |
|
|
|
June 30, 2014 |
|
June 30, 2013 |
|
|
|
|
|
|
Gains (losses) |
|
|
|
Gains (losses) |
|
|
|
|
|
|
|
|
|
|
Gains (losses) |
|
reclassified into |
|
Gains (losses) |
|
reclassified into |
|
|
|
Gains (losses) recognized -Ineffective |
|
|
|
|
recognized in |
|
earnings - |
|
recognized in |
|
earnings - |
|
|
|
Portion and amount excluded from |
|
|
Derivative Type |
|
OCI |
|
Effective Portion |
|
OCI |
|
Effective Portion |
|
Location of gain (loss) |
|
effectiveness testing |
|
|
Foreign currency forwards |
|
$ |
(757 |
) |
$ |
355 |
|
$ |
4,020 |
|
$ |
(1,763 |
) |
Other income/(expense), net |
|
$ |
— |
|
$ |
— |
|
|
Forward starting swap |
|
— |
|
— |
|
1,453 |
|
— |
|
Other income/(expense), net |
|
164 |
|
— |
|
|
|
|
$ |
(757 |
) |
$ |
355 |
|
$ |
5,473 |
|
$ |
(1,763 |
) |
|
|
$ |
164 |
|
$ |
— |
|
|
|
|
Three Months Ended |
|
|
|
|
June 30, 2014 |
|
June 30, 2013 |
|
|
|
June 30, 2014 |
|
June 30, 2013 |
|
|
|
|
|
|
Gains (losses) |
|
|
|
Gains (losses) |
|
|
|
|
|
|
|
|
|
|
Gains (losses) |
|
reclassified into |
|
Gains (losses) |
|
reclassified into |
|
|
|
Gains (losses) recognized -Ineffective |
|
|
|
|
recognized in |
|
earnings - |
|
recognized in |
|
earnings - |
|
|
|
Portion and amount excluded from |
|
|
Derivative Type |
|
OCI |
|
Effective Portion |
|
OCI |
|
Effective Portion |
|
Location of gain (loss) |
|
effectiveness testing |
|
|
Foreign currency forwards |
|
$ |
(443 |
) |
$ |
320 |
|
$ |
5,912 |
|
$ |
289 |
|
Other income/(expense), net |
|
$ |
— |
|
$ |
— |
|
|
Forward starting swap |
|
— |
|
— |
|
1,617 |
|
— |
|
Other income/(expense), net |
|
(673 |
) |
— |
|
|
|
|
$ |
(443 |
) |
$ |
320 |
|
$ |
7,529 |
|
$ |
289 |
|
|
|
$ |
(673 |
) |
$ |
— |
|
|