Foreign Currency Forward Contracts

12 Months Ended

Sep. 30, 2023

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, 2021, 2022 and 2023, there are no contracts that remain unsettled.  As a result, there is no impact to the balance sheet as of September 30, 2022 or September 30, 2023.  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,
	2021		2022		2023
Foreign currency transactional gain (loss)	$	(42)	$	4,393	$	(2,538)
Foreign exchange forward contract gain (loss)		(532)		(6,066)		1,403
Net gain (loss) included in selling, general and administrative expense	$	(574)	$	(1,673)	$	(1,135)