We operate internationally and, in the normal course of business, are exposed to fluctuations in foreign currency exchange rates related to third-party vendor and intercompany payments for goods and services within our non-U.S. subsidiaries. We use foreign exchange forward contracts that are not designated as hedges to manage currency risk. The contracts can have maturities up to three years. As of December 31, 2022 and September 30, 2022, the total notional amount of forward contracts was $69.7 million and $63.3 million, respectively. As of December 31, 2022 and September 30, 2022, the weighted-average remaining maturity of these instruments was approximately 12.3 and 10.5 months, respectively.

The following table summarizes the fair value and presentation in the Condensed Consolidated Balance Sheet for derivative instruments as of December 31, 2022 and September 30, 2022 (dollars in thousands):


		Fair Value
Derivatives not designated as hedges	Classification	December 31, 2022		September 30, 2022
Foreign currency forward contracts	Prepaid expenses and other current assets	$	706	$	1,627
Foreign currency forward contracts	Other assets		131		660
Foreign currency forward contracts	Accrued expenses and other current liabilities		1,547		1,812
Foreign currency forward contracts	Other liabilities		701		711

The following tables display a summary of the (loss) income related to foreign currency forward contracts for the three months ended December 31, 2022 and 2021 (dollars in thousand):


		(Loss) income recognized in earnings
		Three months ended December 31,
Derivatives not designated as hedges	Classification	2022			2021
Foreign currency forward contracts	Other income (expense), net	$	(1,453	)	$	1,117