As of September 30, 2021 and 2020, 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)	2021		2020
Canadian / U.S. Dollar	$	4,894	$	6,847
Euro / U.S. Dollar		387,466		390,673
British Pound / U.S. Dollar		23,141		6,328
Israeli Shekel / U.S. Dollar		10,475		9,503
Japanese Yen / U.S. Dollar		46,450		50,379
Swiss Franc / U.S. Dollar		18,039		12,874
Swedish Krona / U.S. Dollar		34,196		18,871
Singapore Dollar / U.S. Dollar		3,498		3,281
Chinese Renminbi / U.S. Dollar		23,297		5,415
New Taiwan Dollar / U.S. Dollar		3,369		1,483
Russian Ruble/ U.S. Dollar		2,614		309
All other		6,482		6,499
Total	$	563,921	$	512,462

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, 2021, 2020 and 2019:

(in thousands)		Year ended September 30,
	Location of gain (loss)	2021			2020		2019
Net realized and unrealized gain (loss), excluding the underlying foreign currency exposure being hedged	Other income, net	$	(3,758	)	$	3,518	$	(11,314	)

We stopped entering into cash flow hedges in the first quarter of 2019. We had no outstanding forward contracts designated as cash flow hedges as of either September 30, 2021, 2020 or 2019. For the year ended September 30, 2019, we had a gain of $0.2 million related to effective portion of the hedge recognized in other comprehensive income on the Consolidated Balance Sheet, and $0.6 million reclassified from other comprehensive income on the Consolidated Balance Sheet into software revenue on the Consolidated Statements of Operations.

As of September 30, 2021 and 2020, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:

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, 2021, 2020, and 2019:

(in thousands)		Year ended September 30,
	Location of gain (loss)	2021		2020			2019
Gain (loss) recognized in OCI—effective portion	OCI	$	695	$	(5,483	)	$	(2,925	)
Gain (loss) reclassified from OCI—effective portion	OCI	$	2,723	$	109		$	(7,630	)
Gain recognized—portion excluded from effectiveness testing	Other income, net	$	1,249	$	3,506		$	4,598

As of September 30, 2021, 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)	Fair Value of Derivatives Designated As Hedging Instruments				Fair Value of Derivatives Not Designated As Hedging Instruments
	September 30,
	2021		2020		2021		2020
Derivative assets:⁽¹⁾
Forward contracts	$	1,641	$	3	$	3,722	$	900
Derivative liabilities:⁽²⁾
Forward contracts	$	—	$	306	$	3,318	$	767

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, 2021:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of September 30, 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	$	5,363	$	—	$	5,363	$	(3,318	)	$	—	$	2,045

The following table sets forth the offsetting of derivative liabilities as of September 30, 2021:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of September 30, 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	$	3,318	$	—	$	3,318	$	(3,318	)	$	—	$	—

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 $8.0 million, $1.7 million and $3.2 million in 2021, 2020 and 2019, respectively. Net realized and unrealized gains and losses on forward contracts included in foreign currency net losses were a net loss of $4.9 million and $8.4 million in 2021 and 2019, and net gain of $7.0 million in 2020.