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Derivative Financial Instruments | 9 Months Ended
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Jun. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | 3. Derivative Financial Instruments At June 30, 2020 and September 30, 2019, the Company’s Canadian subsidiary had CAD $3.8 million and CAD $9.3 million, respectively, of Canadian dollar denominated intercompany accounts payable owed to one of the Company’s U.S. subsidiaries. In order to mitigate its exposure to movements in foreign currency rates between the U.S. dollar and Canadian dollar, the Company routinely enters into foreign currency forward contracts to hedge a portion of its exposure to changes in the value of the Canadian dollar. At June 30, 2020 and September 30, 2019, the Company had short-term hedge contracts of CAD $2.0 million and CAD $7.0 million, respectively, with a United States bank to reduce the impact on cash flows from movements in the Canadian dollar/U.S. dollar currency exchange rate, but the contract has not been designated as a hedge for accounting purposes. The following table summarizes the gross fair value of all derivative instruments, which are not designated as hedging instruments and their location in the consolidated balance sheets (in thousands).
Derivative Instrument |  | Location |  | June 30, 2020 |  |  | September 30, 2019 |
Foreign Currency Forward Contracts |  | Accrued Expenses and Other Current Liabilities |  | $ | 13 |  |  | $ | 4 |
The following table summarizes the Company’s realized gains (losses) on derivative instruments included in the consolidated statements of operations for the three and nine months ended June 30, 2020 and 2019 (in thousands):
|  |  |  | Three Months Ended |  |  | Nine Months Ended |
Derivative Instrument |  | Location |  | June 30, 2020 |  |  | June 30, 2019 |  |  | June 30, 2020 |  |  | June 30, 2019 |
Foreign Currency Forward Contracts |  | Other Income (Expense) |  | $ | (89 | ) |  | $ | (142 | ) |  | $ | 176 |  |  | $ | 497 |

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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