Derivative Financial Instruments (Tables)

9 Months Ended

Jun. 30, 2021

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
	June 30, 2021		September 30, 2020		June 30, 2021		September 30, 2020
Derivative assets(1):
Forward Contracts	$	429	$	3	$	477	$	900
Options	$	—	$	—	$	213	$	—
Derivative liabilities(2):
Forward Contracts	$	—	$	306	$	1,080	$	767

(1) As of June 30, 2021 and September 30, 2020, current derivative assets of $1.1 million and $0.9 million, respectively, are recorded in other current assets in the Consolidated Balance Sheets.

(2) As of June 30, 2021 and September 30, 2020, current derivative liabilities of $1.1 million and $1.1 million, respectively, are recorded in accrued expenses and other current liabilities in the Consolidated Balance Sheets.

Schedule of Notional Amounts of Outstanding Forward Contracts and Options

As of June 30, 2021 and September 30, 2020, we had outstanding forward contracts and options with notional amounts equivalent to the following:

Currency Hedged (in thousands)	June 30, 2021		September 30, 2020
Canadian / U.S. Dollar	$	6,502	$	6,847
Euro / U.S. Dollar(1)		588,549		390,673
British Pound / U.S. Dollar		2,349		6,328
Israeli Shekel / U.S. Dollar		10,308		9,503
Japanese Yen / U.S. Dollar		10,061		50,379
Swiss Franc / U.S. Dollar		2,903		12,874
Danish Krone / U.S. Dollar		6,699		2,089
Swedish Krona / U.S. Dollar		18,736		18,871
Chinese Renminbi / U.S. Dollar		8,518		5,415
South Korean Won / U.S. Dollar		8,523		—
All other		12,004		9,483
Total	$	675,152	$	512,462

(1) As of June 30, 2021, $552.2 million of the Euro to U.S. Dollar outstanding notional amount relates to forward contracts and $36.3 million relates to options. As of September 30, 2020, all of the Euro to U.S. Dollar outstanding notional amount relates to forward contracts.

As of June 30, 2021 and September 30, 2020, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:

Currency Hedged (in thousands)	June 30, 2021		September 30, 2020
Euro / U.S. Dollar	$	153,631	$	164,885

Schedule of Net Gains and Losses on Foreign Currency Exposures

The following table shows the effect of our non-designated hedges in the Consolidated Statements of Operations for the three and nine months ended June 30, 2021 and June 27, 2020:

(in thousands)		Three months ended						Nine months ended
	Location of Loss	June 30, 2021			June 27, 2020			June 30, 2021			June 27, 2020
Net realized and unrealized loss, excluding the underlying foreign currency exposure being hedged	Other income (expense), net	$	(2,508	)	$	(1,257	)	$	(7,128	)	$	(605	)

The following table shows the effect of our derivative instruments designated as net investment hedges in the Consolidated Statements of Operations for the three and nine months ended June 30, 2021 and June 27, 2020:

(in thousands)		Three months ended						Nine months ended
	Location of Gain (Loss)	June 30, 2021			June 27, 2020			June 30, 2021			June 27, 2020
Gain (loss) recognized in OCI	OCI	$	(2,309	)	$	2,406		$	(268	)	$	(3,300	)
Gain (loss) reclassified from OCI	OCI		4,143			(2,735	)		4,044			(9,513	)
Gain recognized, excluded portion	Other income (expense), net		267			888			1,000			3,079

Schedule of Offsetting Assets

The following table sets forth the offsetting of derivative assets as of June 30, 2021:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of June 30, 2021	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	$	906	$	—	$	906	$	(906	)	$	—	$	—

Schedule of Offsetting Liabilities

The following table sets forth the offsetting of derivative liabilities as of June 30, 2021:

(in thousands)	Gross Amounts Offset in the Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets
As of June 30, 2021	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	$	1,080	$	—	$	1,080	$	(906	)	$	—	$	174