Derivative Financial Instruments (Tables)

9 Months Ended

Jun. 30, 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
	June 30, 2024		September 30, 2023		June 30, 2024		September 30, 2023
Derivative assets(1):
Forward contracts	$	81	$	3,770	$	100	$	3,570
Derivative liabilities(2):
Forward contracts	$	681	$	—	$	1,422	$	3,158

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

(2)As of June 30, 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 June 30, 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)	June 30, 2024		September 30, 2023
Canadian Dollar / U.S. Dollar	$	5,125	$	5,135
Euro / U.S. Dollar		396,345		383,227
British Pound / U.S. Dollar		13,460		6,058
Israeli Shekel / U.S. Dollar		12,091		11,852
Japanese Yen / U.S. Dollar		27,914		4,770
Swiss Franc / U.S. Dollar		16,743		32,766
Swedish Krona / U.S. Dollar		21,841		35,085
Chinese Renminbi / U.S. Dollar		4,209		16,660
New Taiwan Dollar / U.S. Dollar		8,915		11,855
Korean Won / U.S. Dollar		—		6,157
Danish Krone / U.S. Dollar		3,353		6,731
All other		4,854		3,340
Total	$	514,850	$	523,636

As of June 30, 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)	June 30, 2024		September 30, 2023
Euro / U.S. Dollar	$	429,516	$	337,923
Japanese Yen / U.S. Dollar		9,495		10,285
Total	$	439,011	$	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 nine months ended June 30, 2024 and June 30, 2023:

(in thousands)		Three months ended						Nine months ended
	Location of Gain (Loss)	June 30, 2024			June 30, 2023			June 30, 2024			June 30, 2023
Net realized and unrealized loss, excluding the underlying foreign currency exposure being hedged	Other income (expense), net	$	(1,590	)	$	(1,006	)	$	(6,611	)	$	(13,437	)

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 nine months ended June 30, 2024 and June 30, 2023:

(in thousands)		Three months ended					Nine months ended
	Location of Gain (Loss)	June 30, 2024		June 30, 2023			June 30, 2024			June 30, 2023
Gain (loss) recognized in OCI	OCI	$	3,047	$	(695	)	$	(3,705	)	$	(18,663	)
Gain (loss) reclassified from OCI to earnings	n/a	$	—	$	—		$	—		$	—
Gain recognized, excluded portion	Other income (expense), net	$	946	$	1,124		$	3,161		$	3,272

Schedule of Offsetting Assets

The following table sets forth the offsetting of derivative assets as of June 30, 2024:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of June 30, 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	$	181	$	—	$	181	$	(181	)	$	—	$	—

Schedule of Offsetting Liabilities

The following table sets forth the offsetting of derivative liabilities as of June 30, 2024:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of June 30, 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	$	2,103	$	—	$	2,103	$	(181	)	$	—	$	1,922