Foreign Currency Forward Contracts

12 Months Ended

Sep. 30, 2022

Foreign Currency Forward Contracts

Foreign Currency Forward Contracts

Note 20. Foreign Currency Forward Contracts

The Company enters into foreign currency forward contracts with the purpose of reducing income statement volatility resulting from foreign currency denominated transactions. The Company has not designated the contacts as hedges; therefore, changes in fair value are recognized in earnings.  All of these contracts are designed to be settled within the same fiscal quarter they are entered into and, accordingly, as of September 30, 2020, 2021 and 2022, there are no contracts that remain unsettled.  As a result, there is no impact to the balance sheet as of September 30, 2021 or September 30, 2022.  Foreign exchange contract gains and losses are recorded within Selling, General and Administrative expenses on the Consolidated Statements of Operations along with foreign currency transactional gains and losses as follows.

	Year Ended		Year Ended		Year Ended
	September 30,		September 30,		September 30,
	2020		2021		2022
Foreign currency transactional gain (loss)	$	(567)	$	(42)	$	4,393
Foreign exchange forward contract gain (loss)		(273)		(532)		(6,066)
Net gain (loss) included in selling, general and administrative expense	$	(840)	$	(574)	$	(1,673)