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Derivative Financial Instruments (Tables) | 12 Months Ended
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Sep. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Outstanding Forward Contracts | 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 |
We had no outstanding forward contracts designated as cash flow hedges as of either September 30, 2020 or 2019. As of September 30, 2020 and 2019, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:
|  | September 30, |
Currency Hedged (in thousands) |  | 2020 |  |  | 2019 |
Euro / U.S. Dollar |  | $ | 164,885 |  |  | $ | 183,396 |
Schedule of Net Gains and Losses on Foreign Currency Exposures | 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 | )
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 |
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 |  |  | $ | - |
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 |
|  | 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 |
(1) | As of September 30, 2020 and 2019, current derivative assets of $0.9 million and $3.1 million, respectively, are recorded in other current assets on the Consolidated Balance Sheets.
(2) | As of September 30, 2020 and 2019, current derivative liabilities of $1.1 million and $2.8 million, respectively, are recorded in accrued expenses and other current liabilities on the Consolidated Balance Sheets.
Schedule of Offsetting Assets | 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 | ) |  | $ | — |  |  | $ | — |
Schedule of Offsetting Liabilities | 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 |

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