XML 42 R32.htm IDEA: XBRL DOCUMENT
v3.21.2

Derivative Financial Instruments (Tables) | 9 Months Ended
--- | ---
Jun. 30, 2021
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 |
|  | June 30, 2021 |  |  | September 30, 2020 |  |  | June 30, 2021 |  |  | September 30, 2020 |
Derivative assets(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward Contracts |  | $ | 429 |  |  | $ | 3 |  |  | $ | 477 |  |  | $ | 900 |
Options |  | $ | — |  |  | $ | — |  |  | $ | 213 |  |  | $ | — |
Derivative liabilities(2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward Contracts |  | $ | — |  |  | $ | 306 |  |  | $ | 1,080 |  |  | $ | 767 |
(1) | As of June 30, 2021 and September 30, 2020, current derivative assets of $1.1 million and $0.9 million, respectively, are recorded in other current assets in the Consolidated Balance Sheets.
(2) | As of June 30, 2021 and September 30, 2020, current derivative liabilities of $1.1 million and $1.1 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 June 30, 2021 and September 30, 2020, we had outstanding forward contracts and options with notional amounts equivalent to the following:
Currency Hedged (in thousands) |  | June 30, 2021 |  |  | September 30, 2020 |
Canadian / U.S. Dollar |  | $ | 6,502 |  |  | $ | 6,847 |
Euro / U.S. Dollar(1) |  |  | 588,549 |  |  |  | 390,673 |
British Pound / U.S. Dollar |  |  | 2,349 |  |  |  | 6,328 |
Israeli Shekel / U.S. Dollar |  |  | 10,308 |  |  |  | 9,503 |
Japanese Yen / U.S. Dollar |  |  | 10,061 |  |  |  | 50,379 |
Swiss Franc / U.S. Dollar |  |  | 2,903 |  |  |  | 12,874 |
Danish Krone / U.S. Dollar |  |  | 6,699 |  |  |  | 2,089 |
Swedish Krona / U.S. Dollar |  |  | 18,736 |  |  |  | 18,871 |
Chinese Renminbi / U.S. Dollar |  |  | 8,518 |  |  |  | 5,415 |
South Korean Won / U.S. Dollar |  |  | 8,523 |  |  |  | — |
All other |  |  | 12,004 |  |  |  | 9,483 |
Total |  | $ | 675,152 |  |  | $ | 512,462 |
(1) | As of June 30, 2021, $552.2 million of the Euro to U.S. Dollar outstanding notional amount relates to forward contracts and $36.3 million relates to options. As of September 30, 2020, all of the Euro to U.S. Dollar outstanding notional amount relates to forward contracts.
As of June 30, 2021 and September 30, 2020, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:
Currency Hedged (in thousands) |  | June 30, 2021 |  |  | September 30, 2020 |
Euro / U.S. Dollar |  | $ | 153,631 |  |  | $ | 164,885 |
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 nine months ended June 30, 2021 and June 27, 2020:
(in thousands) |  |  |  | Three months ended |  |  | Nine months ended |
|  | Location of Loss |  | June 30, 2021 |  |  | June 27, 2020 |  |  | June 30, 2021 |  |  | June 27, 2020 |
Net realized and unrealized loss, excluding the underlying foreign currency exposure being hedged |  | Other income (expense), net |  | $ | (2,508 | ) |  | $ | (1,257 | ) |  | $ | (7,128 | ) |  | $ | (605 | )
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 nine months ended June 30, 2021 and June 27, 2020:
(in thousands) |  |  |  | Three months ended |  |  | Nine months ended |
|  | Location of Gain (Loss) |  | June 30, 2021 |  |  | June 27, 2020 |  |  | June 30, 2021 |  |  | June 27, 2020 |
Gain (loss) recognized in OCI |  | OCI |  | $ | (2,309 | ) |  | $ | 2,406 |  |  | $ | (268 | ) |  | $ | (3,300 | )
Gain (loss) reclassified from OCI |  | OCI |  |  | 4,143 |  |  |  | (2,735 | ) |  |  | 4,044 |  |  |  | (9,513 | )
Gain recognized, excluded portion |  | Other income (expense), net |  |  | 267 |  |  |  | 888 |  |  |  | 1,000 |  |  |  | 3,079 |
Schedule of Offsetting Assets | The following table sets forth the offsetting of derivative assets as of June 30, 2021:
(in thousands) |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |  |  |  |  |
As of June 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 |  | $ | 906 |  |  | $ | — |  |  | $ | 906 |  |  | $ | (906 | ) |  | $ | — |  |  | $ | — |
Schedule of Offsetting Liabilities | The following table sets forth the offsetting of derivative liabilities as of June 30, 2021:
(in thousands) |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |  |  |  |  |
As of June 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 |  | $ | 1,080 |  |  | $ | — |  |  | $ | 1,080 |  |  | $ | (906 | ) |  | $ | — |  |  | $ | 174 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 + Details
Name: | us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 + Details
Name: | us-gaap_OffsettingLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration