Derivative Financial Instruments (Tables)

6 Months Ended

Mar. 31, 2022

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, 2022		September 30, 2021		March 31, 2022		September 30, 2021
Derivative assets(1):
Forward Contracts	$	—	$	1,641	$	1,646	$	3,722
Options	$	—	$	—	$	2,322	$	—
Derivative liabilities(2):
Forward Contracts	$	825	$	—	$	1,812	$	3,318

(1) As of March 31, 2022 and September 30, 2021, current derivative assets of $4.0 million and $5.4 million, respectively, are recorded in other current assets in the Consolidated Balance Sheets.

(2) As of March 31, 2022 and September 30, 2021, current derivative liabilities of $2.6 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 March 31, 2022 and September 30, 2021, we had outstanding forward contracts and options with notional amounts equivalent to the following:

Currency Hedged (in thousands)	March 31, 2022		September 30, 2021
Canadian / U.S. Dollar	$	5,605	$	4,894
Euro / U.S. Dollar(1)		500,632		387,466
British Pound / U.S. Dollar		10,537		23,141
Israeli Shekel / U.S. Dollar		9,148		10,475
Japanese Yen / U.S. Dollar(2)		28,826		46,450
Swiss Franc / U.S. Dollar		17,299		18,039
Swedish Krona / U.S. Dollar		31,352		34,196
Chinese Renminbi / U.S. Dollar		37,735		23,297
New Taiwan Dollar / U.S. Dollar		5,410		3,369
Romanian Leu/ U.S. Dollar		4,651		778
Russian Ruble/ U.S. Dollar		—		2,614
Danish krone/ U.S. Dollar		8,891		2,380
Australian Dollar/ U.S. Dollar		5,052		2,086
All other		8,146		4,736
Total	$	673,284	$	563,921

(1) As of March 31, 2022, $472.4 million of the Euro to U.S. Dollar outstanding notional amount relates to forward contracts and $28.2 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 March 31, 2022, $2.5 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 March 31, 2022 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)	March 31, 2022		September 30, 2021
Euro / U.S. Dollar	$	153,470	$	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 and six months ended March 31, 2022 and March 31, 2021:

(in thousands)		Three months ended					Six months ended
	Location of Gain (Loss)	March 31, 2022		March 31, 2021			March 31, 2022		March 31, 2021
Net realized and unrealized gain (loss), excluding the underlying foreign currency exposure being hedged	Other expense, net	$	3,797	$	(3,033	)	$	362	$	(4,620	)

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, 2022 and March 31, 2021:

(in thousands)		Three months ended						Six months ended
	Location of Gain (Loss)	March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021
Gain (loss) recognized in OCI	OCI	$	81		$	1,462		$	(3,075	)	$	2,041
Loss reclassified from OCI	OCI		(1,415	)		(3,041	)		(7,150	)		(99	)
Gain recognized, excluded portion	Other expense, net		342			426			609			733

Schedule of Offsetting Assets

The following table sets forth the offsetting of derivative assets as of March 31, 2022:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of March 31, 2022	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	$	1,646	$	—	$	1,646	$	(1,646	)	$	—	$	—

Schedule of Offsetting Liabilities

The following table sets forth the offsetting of derivative liabilities as of March 31, 2022:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of March 31, 2022	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	$	2,637	$	—	$	2,637	$	(1,646	)	$	—	$	991