Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities

Schedule of notional principal amounts of the outstanding derivative instruments

The following table shows the notional principal amounts of our outstanding derivative instruments as of December 31, 2020 and September 30, 2020 (in thousands):

	Notional Principal
	December 31, 2020		September 30, 2020
Instruments receiving hedge accounting treatment:
Foreign currency forwards	$	118,922	$	92,931
Interest rate swaps		595,000		595,000
Instruments not receiving hedge accounting treatment:
Foreign currency forwards	$	4,842	$	4,298

Schedule of fair value of derivative financial instruments

The table below presents the fair value of our derivative financial instruments that qualify for hedge accounting as well as their classification in the condensed consolidated balance sheets (in thousands):

		Fair Value
	Balance Sheet Location	December 31, 2020		September 30, 2020
Asset derivatives:
Foreign currency forwards	Other current assets	$	1,443	$	1,398
Foreign currency forwards	Other assets		770		222
Total		$	2,213	$	1,620
Liability derivatives:
Foreign currency forwards	Accrued compensation and current liabilities	$	6,055	$	4,557
Foreign currency forwards	Other noncurrent liabilities		1,968		866
Interest rate swaps	Other noncurrent liabilities		12,045		13,204
Total		$	20,068	$	18,627

Schedule of gains and losses recognized in other comprehensive loss on derivative financial instruments designated as cash flow hedges

The tables below present gains and losses recognized in other comprehensive income (loss) related to derivative financial instruments designated as cash flow hedges, as well as the amount of gains and losses reclassified into earnings (in thousands):

	Three Months Ended
	December 31, 2020				December 31, 2019
	Gains (losses)		Gains (losses)				Gains (losses)
	recognized in		reclassified into		Gains (losses)		reclassified into
Derivative Type	OCI		earnings		recognized in OCI		earnings
Foreign currency forwards	$	(1,100)	$	255	$	(1,583)	$	(66)
Interest rate swaps		1,159		—		—		—
Total	$	59	$	255	$	(1,583)	$	(66)