Derivative Financial Instruments (Tables)

3 Months Ended

Dec. 31, 2021

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
	December 31, 2021		September 30, 2021		December 31, 2021		September 30, 2021
Derivative assets(1):
Forward Contracts	$	—	$	1,641	$	1,486	$	3,722
Options	$	—	$	—	$	2,021	$	—
Derivative liabilities(2):
Forward Contracts	$	1,248	$	—	$	2,484	$	3,318

(1) As of December 31, 2021 and September 30, 2021, current derivative assets of $3.5 million and $5.4 million, respectively, are recorded in other current assets in the Consolidated Balance Sheets.

(2) As of December 31, 2021 and September 30, 2021, current derivative liabilities of $3.7 million and $3.3 million, respectively, 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 December 31, 2021 and September 30, 2021, we had outstanding forward contracts and options with notional amounts equivalent to the following:

Currency Hedged (in thousands)	December 31, 2021		September 30, 2021
Canadian / U.S. Dollar	$	5,256	$	4,894
Euro / U.S. Dollar(1)		586,301		387,466
British Pound / U.S. Dollar		5,300		23,141
Israeli Shekel / U.S. Dollar		13,859		10,475
Japanese Yen / U.S. Dollar(2)		43,066		46,450
Swiss Franc / U.S. Dollar		7,621		18,039
Swedish Krona / U.S. Dollar		16,683		34,196
Singapore Dollar / U.S. Dollar		3,806		3,498
Chinese Renminbi / U.S. Dollar		19,496		23,297
New Taiwan Dollar / U.S. Dollar		2,669		3,369
Romanian Leu/ U.S. Dollar		3,971		778
Russian Ruble/ U.S. Dollar		—		2,614
All other		7,253		5,704
Total	$	715,281	$	563,921

(1) As of December 31, 2021, $388.7 million of the Euro to U.S. Dollar outstanding notional amount relates to forward contracts and $197.6 million relates to options. As of September 30, 2021, all of the Euro to U.S. Dollar outstanding notional amount relates to forward contracts.

(2) As of December 31, 2021, $16.8 million of the Japanese Yen to U.S. Dollar outstanding notional amount relates to forward contracts and $26.3 million relates to options. As of September 30, 2021, all of the Japanese Yen to U.S. Dollar outstanding notional amount relates to forward contracts.

As of December 31, 2021 and September 30, 2021, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:

Currency Hedged (in thousands)	December 31, 2021		September 30, 2021
Euro / U.S. Dollar	$	179,797	$	128,103

Schedule of Net Gains and Losses on Foreign Currency Exposures

The following table shows the effect of our non-designated hedges in the Consolidated Statements of Operations for the three months ended December 31, 2021 and December 31, 2020:

(in thousands)		Three months ended
	Location of Loss	December 31, 2021			December 31, 2020
Net realized and unrealized loss, excluding the underlying foreign currency exposure being hedged	Other income (expense), net	$	(3,435	)	$	(1,587	)

The following table shows the effect of our derivative instruments designated as net investment hedges in the Consolidated Statements of Operations for the three months ended December 31, 2021 and December 31, 2020:

(in thousands)		Three months ended
	Location of Gain (Loss)	December 31, 2021			December 31, 2020
Gain (loss) recognized in OCI	OCI	$	(3,156	)	$	580
Gain (loss) reclassified from OCI	OCI		(5,735	)		2,942
Gain recognized, excluded portion	Other income (expense), net		267			307

Schedule of Offsetting Assets

The following table sets forth the offsetting of derivative assets as of December 31, 2021:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of December 31, 2021	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	$	1,486	$	—	$	1,486	$	(1,486	)	$	—	$	—

Schedule of Offsetting Liabilities

The following table sets forth the offsetting of derivative liabilities as of December 31, 2021:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of December 31, 2021	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	$	3,732	$	—	$	3,732	$	(1,486	)	$	—	$	2,246