Derivative Instruments and Hedging Activities

9 Months Ended

Jun. 30, 2018

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

10.    Derivative Instruments and Hedging Activities

During the nine months ended June 30, 2018, we did not purchase or hold any derivative instruments for trading or speculative purposes.

Designated Cash Flow Hedges

In July 2017, we purchased two interest rate caps with an initial aggregate notional amount of $550 million (the “interest rate caps”) to mitigate the exposure to higher interest rates in connection with our term loan B. The interest rate caps expire on June 30, 2023 and are designated as cash flow hedges.

Non-designated Cash Flow Hedges

At June 30, 2018, we held foreign currency forward contracts with an aggregate notional amount of $50.2 million based upon exchange rates at June 30, 2018. These derivative instruments expire at various dates through September 30, 2018.

The table below presents the fair value of our derivative financial instruments (in thousands):

	Asset Derivatives					Liability Derivatives
	Classification	June 30, 2018		September 30, 2017		Classification	June 30, 2018		September 30, 2017
Derivatives designated as hedging   instruments:
Interest rate caps	Other assets	$	7,734	$	5,178	N/A	$	—	$	—
Derivatives not designated as hedging    instruments:
Foreign exchange contracts	Other current assets		183		779	Accrued liabilities		—		207
		$	7,917	$	5,957		$	—	$	207

The effects of our derivative financial instruments on our condensed consolidated statements of earnings were not material for the three and nine months ended June 30, 2018 and 2017.