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Derivative Financial Instruments | 12 Months Ended
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Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | Derivative Financial Instruments Non-Designated Hedges As of September 30, 2019 and 2018, we had outstanding forward contracts for derivatives not designated as hedging instruments with notional amounts equivalent to the following:
(in thousands) |  | September 30,
Currency Hedged |  | 2019 |  | 2018
Canadian / U.S. Dollar |  | $ | 9,408 |  |  | $ | 7,334 |
Euro / U.S. Dollar |  | 308,282 |  |  | 297,730 |
British Pound / U.S. Dollar |  | 3,756 |  |  | 7,074 |
Israeli Sheqel / U.S. Dollar |  | 10,272 |  |  | 9,778 |
Japanese Yen / U.S. Dollar |  | 37,462 |  |  | 37,456 |
Swiss Franc / U.S. Dollar |  | 12,001 |  |  | 11,944 |
Swedish Krona / U.S. Dollar |  | 20,636 |  |  | 18,207 |
Chinese Yuan offshore / U.S. Dollar |  | 43,387 |  |  | 116 |
Singapore Dollar / U.S. Dollar |  | 34,585 |  |  | 1,314 |
Chinese Renminbi / U.S. Dollar |  | 9,079 |  |  | 9,010 |
All other |  | 9,487 |  |  | 5,993 |
Total |  | $ | 498,355 |  |  | $ | 405,956 |
The following table shows the effect of our non-designated hedges in the Consolidated Statements of Operations for the years ended September 30, 2019, 2018 and 2017 (in thousands):
Derivatives Not Designated as Hedging Instruments |  | Location of Gain or (Loss) Recognized in Income |  | Net realized and unrealized gain or (loss) (excluding the underlying foreign currency exposure being hedged)
|  |  |  | Year ended September 30,
|  |  |  | 2019 |  | 2018 |  | 2017
Forward Contracts |  | Other income (expense), net |  | $ | (6,716 | ) |  | $ | (9,720 | ) |  | $ | 870 |
Cash Flow Hedges We stopped entering into cash flow hedges in the first quarter of 2019. As of September 30, 2018, we had outstanding forward contracts designated as cash flow hedges with notional amounts equivalent to the following:
(in thousands) |  | September 30,
Currency Hedged |  | 2019 |  | 2018
Euro / U.S. Dollar |  | $ | — |  |  | $ | 8,495 |
Japanese Yen / U.S. Dollar |  | — |  |  | 2,193 |
SEK / U.S. Dollar |  | — |  |  | 1,708 |
Total |  | $ | — |  |  | $ | 12,396 |
The following table shows the effect of our derivative instruments designated as cash flow hedges in the Consolidated Statements of Operations for the years ended September 30, 2019 and 2018 (in thousands):
Derivatives Designated as Hedging Instruments |  | Gain or (Loss) Recognized in OCI-Effective Portion |  | Location of Gain or (Loss) Reclassified from OCI into Income-Effective Portion |  | Gain or (Loss) Reclassified from OCI into Income-Effective Portion |  | Location of Gain or (Loss) Recognized-Ineffective Portion |  | Gain or (Loss) Recognized-Ineffective Portion
|  | Year ended September 30,
|  | 2019 |  | 2018 |  | 2017 |  |  |  | 2019 |  | 2018 |  | 2017 |  |  |  | 2019 |  | 2018 |  | 2017
Forward Contracts |  | $ | 187 |  |  | $ | 1,652 |  |  | $ | (866 | ) |  | Software Revenue |  | $ | 627 |  |  | $ | (552 | ) |  | $ | (524 | ) |  | Other Income (Expense) |  | $ | — |  |  | $ | 21 |  |  | $ | (49 | )
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, 2019, 2018 and 2017 there were no such gains or losses. Net Investment Hedges As of September 30, 2019 and 2018, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:
Currency Hedged (in thousands) |  | 2019 |  | 2018
Euro / U.S. Dollar |  | $ | 183,396 |  |  | $ | — |
Total |  | $ | 183,396 |  |  | $ | — |
The following table shows the effect of our derivative instruments designated as net investment hedges in the Consolidated Statements of Operations for the years ended September 30, 2019 and 2018 (in thousands):
Derivatives Designated as Hedging Instruments |  | Gain or (Loss) Recognized in OCI-Effective Portion |  | Location of Gain or (Loss) Reclassified from OCI -Effective Portion |  | Gain or (Loss) Reclassified from OCI-Effective Portion |  | Location of Gain or (Loss) Excluded from Effectiveness Testing |  | Gain or (Loss) Recognized-Excluded Portion
|  | Year ended September 30,
|  | 2019 |  | 2018 |  | 2017 |  |  |  | 2019 |  | 2018 |  | 2017 |  |  |  | 2019 |  | 2018 |  | 2017
Forward Contracts |  | $ | (2,925 | ) |  | $ | — |  |  | $ | — |  |  | Accumulated other comprehensive loss |  | $ | (7,630 | ) |  | $ | — |  |  | $ | — |  |  | Other income (expense), net |  | $ | 4,598 |  |  | $ | — |  |  | $ | — |
As of September 30, 2019, 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) | September 30,
| Fair Value of Derivatives Designated As Hedging Instruments |  | Fair Value of Derivatives Not Designated As Hedging Instruments
| 2019 |  | 2018 |  | 2019 |  | 2018
Derivative assets (a): |  |  |  |  |  |  |
Forward Contracts | $ | 1,674 |  |  | $ | 440 |  |  | $ | 1,390 |  |  | $ | 2,449 |
Derivative liabilities (b): |  |  |  |  |  |  |
Forward Contracts | $ | — |  |  | $ | — |  |  | $ | 2,771 |  |  | $ | 3,419 |
(a) As of September 30, 2019, $3.1 million current derivative assets are recorded in other current assets, in the Consolidated Balance Sheets. As of September 30, 2018, $2.9 million current derivative assets are recorded in other current assets, in the Consolidated Balance Sheets. (b) As of September 30, 2019, $2.8 million current derivative liabilities are recorded in accrued expenses and other current liabilities in the Consolidated Balance Sheets. As of September 30, 2018, $3.4 million current derivative liabilities are recorded in accrued expenses and other current liabilities in the Consolidated Balance Sheets. Offsetting Derivative Assets and Liabilities 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, 2019:
(in thousands) |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |  |
September 30, 2019 |  | 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 |  | $ | 3,064 |  |  | $ | — |  |  | $ | 3,064 |  |  | $ | (2,771 | ) |  | $ | — |  |  | $ | 293 |
The following table sets forth the offsetting of derivative liabilities as of September 30, 2019:
(in thousands) |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |  |
September 30, 2019 |  | 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 |  | $ | 2,771 |  |  | $ | — |  |  | $ | 2,771 |  |  | $ | (2,771 | ) |  | $ | — |  |  | $ | — |
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 $3.2 million, $7.0 million and $5.7 million for 2019, 2018 and 2017, respectively. Net realized and unrealized gains and losses on forward contracts included in foreign currency net losses were a net loss of $8.4 million in 2019 and $7.5 million in 2018, and a net gain of $1.8 million in 2017.

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- References No definition available. + Details
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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