Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Sep. 30, 2020

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 September 30, 2020 and 2019 (in thousands):

	Notional Principal
	September 30, 2020		September 30, 2019
Instruments designated as accounting hedges:
Foreign currency forwards	$	92,931	$	143,164
Interest rate swaps		595,000		95,000
Instruments not receiving hedge accounting treatment:
Foreign currency forwards	$	4,298	$	24,220

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 consolidated balance sheets (in thousands):

		Fair Value
	Balance Sheet Location	September 30, 2020		September 30, 2019
Asset derivatives:
Foreign currency forwards	Other current assets	$	1,398	$	2,635
Foreign currency forwards	Other assets		222		619
Forward starting swaps	Other assets		—		240
Total		$	1,620	$	3,494
Liability derivatives:
Foreign currency forwards	Accrued compensation and current liabilities	$	4,557	$	529
Foreign currency forwards	Other noncurrent liabilities		866		228
Forward starting swaps	Other noncurrent liabilities		13,204		—
Total		$	18,627	$	757

Schedule of gains and losses recognized in other comprehensive loss on derivative financial instruments designated as cash flow hedges

The tables below present gains and losses recognized in other comprehensive income (loss) related to derivative financial instruments designated as cash flow hedges, as well as the amount of gains and losses reclassified into earnings (in thousands):

	September 30, 2020				September 30, 2019
	Gains (losses)		Gains (losses)				Gains (losses)
	recognized in		reclassified into		Gains (losses)		reclassified into
Derivative Type	OCI		earnings		recognized in OCI		earnings
Foreign currency forwards	$	(2,706)	$	3,695	$	4,104	$	1,945
Forward starting swap		(13,444)		—		240		—
Total	$	(16,150)	$	3,695	$	4,344	$	1,945