As of September 30, 2020 and 2019, we had outstanding forward contracts for derivatives not designated as hedging instruments with notional amounts equivalent to the following:

	September 30,
Currency Hedged (in thousands)	2020		2019
Canadian / U.S. Dollar	$	6,847	$	9,408
Euro / U.S. Dollar		390,673		308,282
British Pound / U.S. Dollar		6,328		3,756
Israeli Shekel / U.S. Dollar		9,503		10,272
Japanese Yen / U.S. Dollar		50,379		37,462
Swiss Franc / U.S. Dollar		12,874		12,001
Swedish Krona / U.S. Dollar		18,871		20,636
Singapore Dollar / U.S. Dollar		3,281		34,585
Chinese Renminbi / U.S. Dollar		5,415		52,466
All other		8,291		9,487
Total	$	512,462	$	498,355

The following table shows the effect of our non-designated hedges, all of which were forward contracts, on the Consolidated Statements of Operations for the years ended September 30, 2020, 2019 and 2018:

(in thousands)		Year ended September 30,
	Location of gain (loss)	2020		2019			2018
Net realized and unrealized gain (loss), excluding the underlying foreign currency exposure being hedged	Other income (expense), net	$	3,518	$	(11,314	)	$	(9,720	)

We stopped entering into cash flow hedges in the first quarter of 2019. We had no outstanding forward contracts designated as cash flow hedges as of either September 30, 2020 or 2019.

The following table shows the effect of our derivative instruments designated as cash flow hedges, all of which were forward contracts, in the Consolidated Statements of Operations for the years ended September 30, 2020, 2019, and 2018:

(in thousands)		Year ended September 30,
	Location of gain (loss)	2020		2019		2018
Gain (loss) recognized in OCI—effective portion	OCI	$	-	$	187	$	1,652
Gain (loss) reclassified from OCI into income—effective portion	Software revenue	$	-	$	627	$	(552	)
Gain (loss) recognized—ineffective portion	Other income (expense), net	$	-	$	-	$	21

In the event the underlying forecast transaction does not occur, or it becomes probable that it will not occur, the related hedge gains and losses on the cash flow hedge would be immediately reclassified to other income (expense), net on the Consolidated Statements of Operations. For the years ended September 30, 2020, 2019 and 2018, there were no such gains or losses.

As of September 30, 2020 and 2019, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:

The following table shows the effect of our derivative instruments designated as net investment hedges, all of which were forward contracts, on the Consolidated Statements of Operations for the years ended September 30, 2020, 2019, and 2018:

(in thousands)		Year ended September 30,
	Location of gain (loss)	2020			2019			2018
Gain (loss) recognized in OCI—effective portion	OCI	$	(5,483	)	$	(2,925	)	$	-
Gain (loss) reclassified from OCI—effective portion	OCI	$	109		$	(7,630	)	$	-
Gain (loss) recognized—portion excluded from effectiveness testing	Other income (expense), net	$	3,506		$	4,598		$	-

As of September 30, 2020, we estimate that all amounts reported in accumulated other comprehensive loss will be applied against exposed balance sheet accounts upon translation within the next three months.

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
	September 30,
	2020		2019		2020		2019
Derivative assets:⁽¹⁾
Forward contracts	$	3	$	1,674	$	900	$	1,390
Derivative liabilities:⁽²⁾
Forward contracts	$	306	$	—	$	767	$	2,771

We have entered into master netting arrangements which allow net settlements under certain conditions. Although netting is permitted, it is currently our policy and practice to record all derivative assets and liabilities on a gross basis in the Consolidated Balance Sheets.

The following table sets forth the offsetting of derivative assets as of September 30, 2020:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of September 30, 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	$	903	$	—	$	903	$	(903	)	$	—	$	—

The following table sets forth the offsetting of derivative liabilities as of September 30, 2020:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of September 30, 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	$	1,073	$	—	$	1,073	$	(903	)	$	—	$	170

Net gains and losses on foreign currency exposures, including realized and unrealized gains and losses on forward contracts, included in foreign currency net losses, were net losses of $1.7 million, $3.2 million and $7.0 million in 2020, 2019 and 2018, respectively. Net realized and unrealized gains and losses on forward contracts included in foreign currency net losses were a net gain of $7.0 million in 2020 and net losses of $8.4 million and $7.5 million in 2019 and 2018, respectively.