Derivative Instruments

9 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

10. Derivative Instruments

The Company has transactions and balances denominated in currencies other than the U.S. dollar. Most of these transactions or balances are denominated in Euros, British Pounds and a variety of Asian currencies. These transactions and balances, including short-term advances between the Company and its subsidiaries, subject the Company’s operations to exposure from exchange rate fluctuations. The impact of currency exchange rate movement can be positive or negative in any period. The Company mitigates the impact of potential currency transaction gains and losses on short-term intercompany advances through timely settlement of each transaction, generally within 30 days.

The Company also enters into foreign exchange contracts to reduce its exposure to currency fluctuations. Under forward contract arrangements, the Company typically agrees to purchase a fixed amount of U.S. dollars in exchange for a fixed amount of a foreign currency on specified dates with maturities of three months or less. These transactions do not qualify for hedge accounting. Net gains and losses related to these contracts are recorded as a component of "Other loss, net" in the accompanying unaudited Consolidated Statements of Operations and are as follows for the three and nine months ended June 30, 2017 and 2016 (in thousands):

	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Realized gains (losses) on derivatives not designated as hedging instruments	$	147	$	233	$	(450)	$	1,230

The Company had the following notional amounts outstanding under foreign currency contracts that do not qualify for hedge accounting at June 30, 2017 and September 30, 2016 (in thousands):

June 30, 2017:
	Notional Amount			Notional Amount	Fair Value of		Fair Value of
Buy Currency	of Buy Currency	Sell Currency	Maturity	of Sell Currency	Assets		Liabilities
Japanese Yen	445,000	U.S. Dollar	July 2017	3,980	$	—	$	(13)
British Pound	1,470	U.S. Dollar	July 2017	1,906		—		(16)
Korean Won	4,193,000	U.S. Dollar	July 2017	3,679		—		(10)
U.S. Dollar	5,860	Chinese Yuan	July 2017	40,000		—		(20)
Euro	11,600	U.S. Dollar	July 2017	13,229		—		(53)
British Pound	164	Norwegian Krone	July 2017	1,800		2		—
Singapore Dollar	620	U.S. Dollar	July 2017	449		—		(1)
U.S. Dollar	213	Israeli Shekel	July 2017	748		1		—
Euro	18,513	British Pound	July 2017	16,280		99		—
					$	102	$	(113)

September 30, 2016:
	Notional Amount			Notional Amount	Fair Value of		Fair Value of
Buy Currency	of Buy Currency	Sell Currency	Maturity	of Sell Currency	Assets		Liabilities
British Pound	190	Swedish Krona	October 2016	2,100	$	1	$	—
Japanese Yen	124,000	U.S. Dollar	October 2016	1,229		—		—
U.S. Dollar	6,107	British Pound	October 2016	4,710		2		—
Euro	13,300	U.S. Dollar	October 2016	14,976		—		(40)
U.S. Dollar	5,815	Chinese Yuan	October 2016	39,000		—		(33)
Korean Won	2,488,000	U.S. Dollar	October 2016	2,255		1		—
Euro	7,482	British Pound	October 2016	6,500		—		(23)
U.S. Dollar	311	Israeli Shekel	October 2016	1,169		1		—
Singapore Dollar	360	U.S. Dollar	October 2016	265		—		—
U.S. Dollar	210	Taiwanese Dollar	October 2016	6,600		—		—
British Pound	171	Norwegian Krone	October 2016	1,800		—		—
					$	5	$	(96)

The fair values of the forward contracts described above are recorded in the Company’s accompanying unaudited Consolidated Balance Sheets as "Prepaid expenses and other current assets" and "Accrued expenses and other current liabilities".

Stock Warrant

The stock warrant was less than $0.1 million at September 30, 2016. The BioCision warrant agreement contained net share settlement provisions, which permitted the Company to pay the warrant exercise price using shares issuable under the warrant (“cashless exercise”). The value of the stock warrant fluctuated primarily in relation to the value of BioCision’s underlying securities, either providing an appreciation in value or potentially expiring with no value. Gains and losses on the revaluation of the stock warrant were recognized as a component of "Other loss, net" in the accompanying unaudited Consolidated Statements of Operations.

During the first quarter of fiscal year 2017, the Company canceled the stock warrant as a portion of the non-cash consideration transferred for the acquisition of Cool Lab, which was measured at fair value on the acquisition date. There were no stock warrants held by the Company at June 30, 2017. Please refer to Note 4, "Acquisitions"; Note 6, "Equity Method Investments" and Note 17 “Fair Value Measurements” for further information on the acquisition of Cool Lab and the stock warrant.