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Derivative Financial Instruments (Tables) | 12 Months Ended
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Sep. 30, 2023
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 |
|  | September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Derivative assets:(1) |  |  |  |  |  |  |  |  |  |  |  |
Forward contracts |  | $ | 3,770 |  |  | $ | 1,960 |  |  | $ | 3,570 |  |  | $ | 7,098 |
Derivative liabilities:(2) |  |  |  |  |  |  |  |  |  |  |  |
Forward contracts |  | $ | — |  |  | $ | — |  |  | $ | 3,158 |  |  | $ | 2,908 |
(1) As of September 30, 2023 and 2022, current derivative assets of $7.3 million and $9.1 million, respectively, are recorded in Other current assets on the Consolidated Balance Sheets. As of September 30, 2023 and 2022, current derivative liabilities of $3.2 million and $2.9 million, respectively, are recorded in Accrued expenses and other current liabilities on the Consolidated Balance Sheets.
Schedule of Notional Amounts of Outstanding Forward Contracts | As of September 30, 2023 and 2022, we had outstanding forward contracts not designated as hedging instruments with notional amounts equivalent to the following:
|  | September 30, |
Currency Hedged (in thousands) |  | 2023 |  |  | 2022 |
Canadian Dollar / U.S. Dollar |  | $ | 5,135 |  |  | $ | 2,731 |
Euro / U.S. Dollar |  |  | 383,227 |  |  |  | 316,869 |
British Pound / U.S. Dollar |  |  | 6,058 |  |  |  | 7,368 |
Israeli Shekel / U.S. Dollar |  |  | 11,852 |  |  |  | 12,052 |
Japanese Yen / U.S. Dollar |  |  | 4,770 |  |  |  | 25,566 |
Swiss Franc / U.S. Dollar |  |  | 32,766 |  |  |  | 25,559 |
Swedish Krona / U.S. Dollar |  |  | 35,085 |  |  |  | 35,713 |
Singapore Dollar / U.S. Dollar |  |  | — |  |  |  | 3,637 |
Chinese Renminbi / U.S. Dollar |  |  | 16,660 |  |  |  | 23,965 |
New Taiwan Dollar / U.S. Dollar |  |  | 11,855 |  |  |  | 13,906 |
Korean Won / U.S. Dollar |  |  | 6,157 |  |  |  | 4,919 |
Danish Krone / U.S. Dollar |  |  | 6,731 |  |  |  | 3,192 |
Australian Dollar / U.S. Dollar |  |  | 452 |  |  |  | 3,269 |
All other |  |  | 2,888 |  |  |  | 4,432 |
Total |  | $ | 523,636 |  |  | $ | 483,178 |
As of September 30, 2023 and 2022, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:
|  | September 30, |
Currency Hedged (in thousands) |  | 2023 |  |  | 2022 |
Euro / U.S. Dollar |  | $ | 337,923 |  |  | $ | 110,466 |
Japanese Yen / U.S. Dollar |  |  | 10,285 |  |  |  | — |
Total |  | $ | 348,208 |  |  | $ | 110,466 |
Schedule of Net Gains and Losses on Foreign Currency Exposures | The following table shows the effect of our non-designated hedges, including forward contracts and options, on the Consolidated Statements of Operations for the years ended September 30, 2023, 2022 and 2021:
(in thousands) |  |  |  | Year ended September 30, |
|  | Location of Gain (Loss) |  | 2023 |  |  | 2022 |  |  | 2021 |
Net realized and unrealized gain (loss), excluding the underlying foreign currency exposure being hedged |  | Other income, net |  | $ | (11,757 | ) |  | $ | 14,603 |  |  | $ | (6,055 | )
The following table shows the effect of our derivative instruments designated as net investment hedges on the Consolidated Statements of Operations for the years ended September 30, 2023, 2022, and 2021:
(in thousands) |  |  |  | Year ended September 30, |
|  | Location of Gain (Loss) |  | 2023 |  |  | 2022 |  |  | 2021 |
Gain (loss) recognized in OCI |  | OCI |  | $ | (10,033 | ) |  | $ | 23,379 |  |  | $ | 1,660 |
Gain (loss) reclassified from OCI to earnings |  | n/a |  | $ | - |  |  | $ | - |  |  | $ | - |
Gain recognized, excluded portion |  | Other income, net |  | $ | 4,241 |  |  | $ | 1,797 |  |  | $ | 1,249 |
Schedule of Offsetting Assets | The following table sets forth the offsetting of derivative assets as of September 30, 2023:
(in thousands) |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |  |  |  |
As of September 30, 2023 |  | 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 |  | $ | 7,340 |  |  | $ | — |  |  | $ | 7,340 |  |  | $ | (3,158 | ) |  | $ | — |  |  | $ | 4,182 |
Schedule of Offsetting Liabilities | The following table sets forth the offsetting of derivative liabilities as of September 30, 2023:
(in thousands) |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |  |  |  |
As of September 30, 2023 |  | 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 |  | $ | 3,158 |  |  | $ | — |  |  | $ | 3,158 |  |  | $ | (3,158 | ) |  | $ | — |  |  | $ | — |

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