10. Foreign currency exchange contracts and hedging

As of March 31, 2022 and March 31, 2021, the Company’s total non-designated and designated derivative contracts had notional amounts totaling approximately $2,445 and $15,680, respectively, and $1,704 and $20,491, respectively. These contracts were comprised of offsetting contracts with the same counterparty, each expires within one to nine months. During the three months ended March 31, 2022 and March 31, 2021, these contracts had, net of tax, an unrealized loss of $74 and an unrealized gain of $903, respectively.

The nonperformance risk of the Company and the counterparty did not have a material impact on the fair value of the derivatives. During the three months ended March 31, 2022 and March 31, 2021, there were no ineffective portions relating to these hedges and the hedges remained effective through their respective settlement dates. As of March 31, 2022, the Company had eight designated hedges and one non-designated hedge. As of March 31, 2021, the Company had twenty-two designated hedges and two non-designated hedges.