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Derivative Financial Instruments (Tables)
 6 Months Ended
Mar. 28, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional Amounts of Outstanding Forward Contracts
As of March 28, 2020 and September 30, 2019, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:
Currency Hedged (in thousands)
March 28,
2020
 
September 30,
2019
Euro / U.S. Dollar
$
182,095

 
$
183,396

Total
$
182,095

 
$
183,396

As of March 28, 2020 and September 30, 2019, we had outstanding forward contracts with notional amounts equivalent to the following:
Currency Hedged (in thousands)
March 28,
2020
 
September 30,
2019
Canadian / U.S. Dollar
$
5,781

 
$
9,408

Euro / U.S. Dollar
304,482

 
308,282

British Pound / U.S. Dollar
6,713

 
3,756

Israeli Sheqel / U.S. Dollar
8,350

 
10,272

Japanese Yen / U.S. Dollar
18,935

 
37,462

Swiss Franc / U.S. Dollar
13,986

 
12,001

Danish Kroner/ U.S. Dollar
3,877

 
—

Swedish Kronor / U.S. Dollar
6,873

 
20,636

Singapore Dollar / U.S. Dollar
41,190

 
34,585

Chinese Renminbi / U.S. Dollar
5,692

 
52,466

Russian Ruble / U.S. Dollar
6,876

 
—

All other
3,921

 
9,487

Total
$
426,676

 
$
498,355
Net Gains and Losses on Foreign Currency Exposures
The following table shows the effect of our derivative instruments designated as net investment hedges in the Consolidated Statements of Operations for the second quarter and first six months ended March 28, 2020 and March 30, 2019 (in thousands):
Derivatives Designated as Hedging Instruments
 
Gain or (Loss) Recognized in OCI
 
Location of Gain or (Loss) Reclassified from OCI
Gain or (Loss) Reclassified from OCI
 
Location of Gain or (Loss) Excluded from Effectiveness Testing
Gain or (Loss) Recognized-Excluded Portion
 
 
Three months ended
 
 
Three months ended
 
 
Three months ended
 
 
March 28,
2020
 
March 30,
2019
 
 
March 28,
2020
 
March 30,
2019
 
 
March 28,
2020
 
March 30,
2019
Forward Contracts
 
$
(2,140
)
 
$
1,466

 
Accumulated other comprehensive loss
$
(6,016
)
 
$
(1,813
)
 
Other income (expense), net
$
962

 
$
1,107

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six months ended
 
 
Six months ended
 
 
Six months ended
 
 
March 28,
2020
 
March 30,
2019
 
 
March 28,
2020
 
March 30,
2019
 
 
March 28,
2020
 
March 30,
2019
Forward Contracts
 
$
(5,706
)
 
$
768

 
Accumulated other comprehensive loss
$
(6,778
)
 
$
(1,040
)
 
Other income (expense), net
$
2,191

 
$
1,593


The following table shows the effect of our non-designated hedges in the Consolidated Statements of Operations for the six months ended March 28, 2020 and March 30, 2019:
Derivatives Not Designated as Hedging Instruments (in thousands)
 
Location of Gain or (Loss) Recognized in Income
 
Net realized and unrealized gain or (loss) (excluding the underlying foreign currency exposure being hedged)
 
 
 
 
Three months ended
 
Six months ended
 
 
 
 
March 28,
2020
 
March 30,
2019
 
March 28,
2020
 
March 30,
2019
Forward Contracts
 
Other income (expense), net
 
$
2,151

 
$
(1,752
)
 
$
2,844

 
$
(2,739
)
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table shows our derivative instruments measured at gross fair value as reflected in the Consolidated Balance Sheets:
(in thousands)
Fair Value of Derivatives Designated As Hedging Instruments
 
Fair Value of Derivatives Not Designated As Hedging Instruments
 
March 28,
2020
 
September 30,
2019
 
March 28,
2020
 
September 30,
2019
Derivative assets (1):
 
 
 
 
 
 
 
       Forward Contracts
$
—

 
$
1,674

 
$
2,708

 
$
1,390

Derivative liabilities (2):
 
 
 
 
 
 
 
       Forward Contracts
$
1,841

 
$
—

 
$
2,233

 
$
2,771


(1)
As of March 28, 2020 and September 30, 2019, current derivative assets of $2.7 million and $3.1 million, respectively, are recorded in other current assets in the Consolidated Balance Sheets.
(2)
As of March 28, 2020 and September 30, 2019, current derivative liabilities of $4.1 million and $2.8 million, respectively, are recorded in accrued expenses and other current liabilities in the Consolidated Balance Sheets.
Offsetting Assets
The following table sets forth the offsetting of derivative assets as of March 28, 2020:
(in thousands)
Gross Amounts Offset in the Consolidated Balance Sheets
 
 
 
Gross Amounts Not Offset in the Consolidated Balance Sheets
 
 
As of March 28, 2020
Gross Amount of Recognized Assets
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amounts of Assets Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral Received
 
Net Amount
Forward Contracts
$
2,708

 
$
—

 
$
2,708

 
$
(2,708
)
 
$
—

 
$
—
Offsetting Liabilities
The following table sets forth the offsetting of derivative liabilities as of March 28, 2020:
(in thousands)
Gross Amounts Offset in the Consolidated Balance Sheets
 
 
 
Gross Amounts Not Offset in the Consolidated Balance Sheets
 
 
As of March 28, 2020
Gross Amount of Recognized Liabilities
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amounts of Liabilities Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral Pledged
 
Net Amount
Forward Contracts
$
4,074

 
$
—

 
$
4,074

 
$
(2,708
)
 
$
—

 
$
1,366