Derivative Financial Instruments (Tables)

6 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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 31, 2024		September 30, 2023		March 31, 2024		September 30, 2023
Derivative assets(1):
Forward contracts	$	1,457	$	3,770	$	1,083	$	3,570
Derivative liabilities(2):
Forward contracts	$	—	$	—	$	1,672	$	3,158

(1)As of March 31, 2024 and September 30, 2023, current derivative assets are recorded in Other current assets in the Consolidated Balance Sheets.

(2)As of March 31, 2024 and September 30, 2023, current derivative liabilities are recorded in Accrued expenses and other current liabilities in the Consolidated Balance Sheets.

Schedule of Notional Amounts of Outstanding Forward Contracts and Options

As of March 31, 2024 and September 30, 2023, we had outstanding forward contracts not designated as hedging instruments with notional amounts equivalent to the following:

Currency Hedged (in thousands)	March 31, 2024		September 30, 2023
Canadian Dollar / U.S. Dollar	$	1,985	$	5,135
Euro / U.S. Dollar		391,383		383,227
British Pound / U.S. Dollar		9,511		6,058
Israeli Shekel / U.S. Dollar		13,732		11,852
Japanese Yen / U.S. Dollar		12,413		4,770
Swiss Franc / U.S. Dollar		22,749		32,766
Swedish Krona / U.S. Dollar		15,165		35,085
Chinese Renminbi / U.S. Dollar		4,711		16,660
New Taiwan Dollar / U.S. Dollar		10,843		11,855
Korean Won / U.S. Dollar		—		6,157
Danish Krone / U.S. Dollar		5,468		6,731
Australian Dollar / U.S. Dollar		3,588		452
Hong Kong Dollar / U.S. Dollar		3,604		449
All other		2,918		2,439
Total	$	498,070	$	523,636

As of March 31, 2024 and September 30, 2023, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:

Currency Hedged (in thousands)	March 31, 2024		September 30, 2023
Euro / U.S. Dollar	$	369,697	$	337,923
Japanese Yen / U.S. Dollar		10,089		10,285
Total	$	379,786	$	348,208

Schedule of Net Gains and Losses on Foreign Currency Exposures

The following table shows the effect of our non-designated hedges on the Consolidated Statements of Operations for the three and six months ended March 31, 2024 and March 31, 2023:

(in thousands)		Three months ended						Six months ended
	Location of Gain (Loss)	March 31, 2024			March 31, 2023			March 31, 2024			March 31, 2023
Net realized and unrealized loss, excluding the underlying foreign currency exposure being hedged	Other income (expense), net	$	(1,286	)	$	(1,422	)	$	(5,022	)	$	(12,431	)

The following table shows the effect of our derivative instruments designated as net investment hedges in the Consolidated Statements of Operations for the three and six months ended March 31, 2024 and March 31, 2023:

(in thousands)		Three months ended					Six months ended
	Location of Gain (Loss)	March 31, 2024		March 31, 2023			March 31, 2024			March 31, 2023
Gain (loss) recognized in OCI	OCI	$	8,552	$	(2,664	)	$	(6,752	)	$	(17,969	)
Gain (loss) reclassified from OCI to earnings	n/a	$	—	$	—		$	—		$	—
Gain recognized, excluded portion	Other income (expense), net	$	1,079	$	1,179		$	2,215		$	2,148

Schedule of Offsetting Assets

The following table sets forth the offsetting of derivative assets as of March 31, 2024:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of March 31, 2024	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	$	2,540	$	—	$	2,540	$	(1,672	)	$	—	$	868

Schedule of Offsetting Liabilities

The following table sets forth the offsetting of derivative liabilities as of March 31, 2024:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of March 31, 2024	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	$	1,672	$	—	$	1,672	$	(1,672	)	$	—	$	—