Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.21.1
Debt (Tables)
 6 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt at March 31, 2021 and September 30, 2020 consisted of the following:

  March 31, 2021 September 30, 2020
Revolving credit facilities $ 367,352  $ 416,793 
Securitization facility 97,590  67,700 
Senior secured term loan —  22,359 
2025 Senior Notes 297,526  297,256 
Other borrowings 12,022  20,742 
Finance lease obligations 7,993  9,684 
  782,483  834,534 
Less current maturities (4,274) (26,824)
  $ 778,209  $ 807,710 
Interest Rate Contracts
The following table presents information related to interest rate contracts entered into by the Company and designated as cash flow hedges:
March 31, 2021 September 30, 2020
Pay fixed swaps - notional amount $ 250,000  $ 312,500 
Net unrealized loss
$ (2,905) $ (7,792)
Weighted-average maturity period (years) 2.7 2.6
Weighted-average received rate 0.11  % 0.15  %
Weighted-average pay rate 1.34  % 1.34  %
Interest Rate Swap Contracts as Reflected on Balance Sheet
At March 31, 2021 and September 30, 2020, the interest rate swap contracts were reflected in the Consolidated Balance Sheets as follows:

Derivatives March 31, 2021 September 30, 2020
Current assets:    
Other current assets $ 78  $ — 
Long-term assets:    
Other assets 393  — 
Current liabilities:    
Other current liabilities (2,425) (3,164)
Long-term liabilities:    
Other liabilities (951) (4,628)
Total derivatives $ (2,905) $ (7,792)
Gain (Loss) on Derivatives
The (losses) gains recognized on derivatives were as follows:
Derivatives in Cash Flow Hedging Relationships Location of (Loss) Gain Recognized in Income on Derivative
Amount of (Loss) Gain Recognized in Income on Derivatives
Amount of (Loss) Gain Recognized in Income on Derivatives
     Three Months Ended
March 31,		 Six Months Ended
March 31,
    2021 2020 2021 2020
Interest rate swaps Interest expense $ (751) $ 182  $ (1,654) $ 546 
Note 7.   Debt (continued)

The Company recognized the following gains (losses) in AOCI:
Derivatives in Cash Flow Hedging Relationships Amount of Gain (Loss)
Recognized in AOCI on Derivatives		 Location of (Loss) Gain Reclassified From AOCI into Income (Effective Portion*) Amount of (Loss) Gain
Reclassified from
AOCI into Income
(Effective Portion*)
  March 31, 2021 March 31, 2020   March 31, 2021 March 31, 2020
Interest rate swaps $ 2,441  $ (3,739) Interest expense $ (1,249) $ 412 
*There is no ineffective portion or amount excluded from effectiveness testing.