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Derivative Financial Instruments | 12 Months Ended
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Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | 15. Derivative Financial Instruments 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, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Derivative assets:(1) |  |  |  |  |  |  |  |  |  |  |  |
Forward contracts |  | $ | 2,871 |  |  | $ | 181 |  |  | $ | 3,136 |  |  | $ | 1,021 |
Option contracts |  | $ | — |  |  | $ | — |  |  | $ | 6,228 |  |  | $ | — |
Derivative liabilities:(2) |  |  |  |  |  |  |  |  |  |  |  |
Forward contracts |  | $ | — |  |  | $ | 630 |  |  | $ | 4,773 |  |  | $ | 3,536 |
(1) As of September 30, 2025 and 2024, current derivative assets are recorded in Other current assets on the Consolidated Balance Sheets. (2) As of September 30, 2025 and 2024, current derivative liabilities are recorded in Accrued expenses and other current liabilities on the Consolidated Balance Sheets. Non-Designated Hedges As of September 30, 2025 and 2024, we had outstanding forward and option contracts not designated as hedging instruments with notional amounts equivalent to the following:
|  | September 30, |
Currency Hedged (in thousands) |  | 2025 |  |  | 2024 |
Euro / U.S. Dollar(1) |  | $ | 1,202,830 |  |  | $ | 781,398 |
British Pound / U.S. Dollar |  |  | 22,974 |  |  |  | 24,810 |
Israeli Shekel / U.S. Dollar |  |  | 20,094 |  |  |  | 12,535 |
Indian Rupee / U.S. Dollar |  |  | 53,465 |  |  |  | — |
Japanese Yen / U.S. Dollar(2) |  |  | 131,284 |  |  |  | 42,340 |
Swiss Franc / U.S. Dollar |  |  | 8,960 |  |  |  | 74,939 |
Swedish Krona / U.S. Dollar |  |  | 21,568 |  |  |  | 48,596 |
Chinese Renminbi / U.S. Dollar |  |  | 7,134 |  |  |  | 32,124 |
New Taiwan Dollar / U.S. Dollar |  |  | 23,098 |  |  |  | 16,368 |
All other |  |  | 26,679 |  |  |  | 25,368 |
Total |  | $ | 1,518,086 |  |  | $ | 1,058,478 |
(1) As of September 30, 2025, $835.4 million of the Euro to U.S. Dollar outstanding notional amount relates to forward contracts and $367.4 million relates to option contracts. As of September 30, 2024, all the Euro to U.S. Dollar outstanding notional amount relates to forward contracts. (2) As of September 30, 2025, $41.9 million of the Japanese Yen to U.S. Dollar outstanding notional amount relates to forward contracts and $89.4 million relates to option contracts. As of September 30, 2024, all the Japanese Yen to U.S. Dollar outstanding notional amount relates to forward contracts. The following table shows the effect of our non-designated hedges on the Consolidated Statements of Operations for the years ended September 30, 2025, 2024 and 2023:
(in thousands) |  |  |  | Year ended September 30, |
|  | Location of Gain (Loss) |  | 2025 |  |  | 2024 |  |  | 2023 |
Net realized and unrealized loss, excluding the underlying foreign currency exposure being hedged |  | Other income, net |  | $ | (5,204 | ) |  | $ | (6,238 | ) |  | $ | (11,757 | )
In 2025, 2024, and 2023, foreign currency losses, net were $2.5 million, $1.8 million, and $2.1 million, respectively. Net Investment Hedges As of September 30, 2025 and 2024, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:
|  | September 30, |
Currency Hedged (in thousands) |  | 2025 |  |  | 2024 |
Euro / U.S. Dollar |  | $ | 480,198 |  |  | $ | 462,894 |
Japanese Yen / U.S. Dollar |  |  | 10,260 |  |  |  | 10,739 |
Total |  | $ | 490,458 |  |  | $ | 473,633 |
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, 2025, 2024, and 2023:
(in thousands) |  |  |  | Year ended September 30, |
|  | Location of Gain (Loss) |  | 2025 |  |  | 2024 |  |  | 2023 |
Loss recognized in Other comprehensive income ("OCI") |  | OCI |  | $ | (23,684 | ) |  | $ | (21,643 | ) |  | $ | (10,033 | )
Gain (loss) reclassified from OCI to earnings |  | n/a |  | $ | — |  |  | $ | — |  |  | $ | — |
Gain recognized, excluded portion |  | Other income, net |  | $ | 6,251 |  |  | $ | 4,346 |  |  | $ | 4,241 |
Offsetting Derivative Assets and Liabilities We have entered into master netting arrangements for our foreign exchange contracts that 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, 2025:
(in thousands) |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |  |  |  |
As of September 30, 2025 |  | 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 |
Foreign exchange contracts |  | $ | 12,235 |  |  | $ | — |  |  | $ | 12,235 |  |  | $ | (4,773 | ) |  | $ | — |  |  | $ | 7,462 |
The following table sets forth the offsetting of derivative liabilities as of September 30, 2025:
(in thousands) |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |  |  |  |
As of September 30, 2025 |  | 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 |
Foreign exchange contracts |  | $ | 4,773 |  |  | $ | — |  |  | $ | 4,773 |  |  | $ | (4,773 | ) |  | $ | — |  |  | $ | — |

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