Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v3.10.0.1
LONG-TERM DEBT (Tables)
 12 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Long-Term Debt
Long-term debt at September 30, 2018 and 2017 consisted of the following:
 
2018
 
2017
Revolving credit facilities
$
322,711

 
$
551,126

Securitization facility
102,250

 
95,825

Senior secured term loan
212,086

 
232,479

2025 Senior Notes
296,176

 
—

Notes payable to banks
17,895

 
21,831

Short-term borrowings
4,915

 
4,735

Capital lease obligations
4,569

 
5,134

 
960,602

 
911,130

Less current maturities
(31,260
)
 
(29,528
)
 
$
929,342

 
$
881,602

Interest Rate Contracts
The following table presents information related to interest rate contracts entered into by the Company and designated as cash flow hedges:
 
 
September 30, 2018
 
September 30, 2017
Pay fixed swaps - notional amount
 
$
343,750

 
$
414,063

Net unrealized gain (loss)
 
$
11,309

 
$
3,959

Weighted-average maturity period (years)
 
2.7

 
3.3

Weighted-average received rate
 
2.26
%
 
1.23
%
Weighted-average pay rate
 
1.37
%
 
1.34
%

Interest Rate Swap Contracts Reflected in Consolidated Balance Sheets
At September 30, 2018 and 2017, the interest rate swap contracts were reflected on a gross-basis in the consolidated balance sheets as follows:

Derivatives:
2018
 
2017
Current assets:
 
 
 
Other current assets
$
3,867

 
$
1,098

Long-term assets:
 

 
 

Other assets
7,442

 
2,892

Current liabilities:
 

 
 

Other current liabilities
—

 
(7
)
Long-term liabilities:
 

 
 

Other liabilities
—

 
(24
)
Total derivatives
$
11,309

 
$
3,959

Gains (Losses) Recognized on Derivatives
The gains (losses) recognized on derivatives was as follows:
Derivatives in Cash Flow Hedging Relationships
 
Location of Gain (Loss) Recognized in Income on Derivatives
 
Amount of Gain (Loss) Recognized in Income on Derivatives
 
 
 
 
2018
 
2017
 
2016
Interest rate swaps
 
Interest expense
 
$1,380
 
$1,752
 
$(3,146)

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 Gain or (Loss) Reclassified from AOCI into Income
 
Amount of Gain (Loss) Reclassified from AOCI into Income(Effective Portion*)
 
 
2018
 
2017
 
2016
 
(Effective Portion*)
 
2018
 
2017
 
2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
 
$6,095
 
$7,043
 
$(3,230)
 
Interest expense
 
$1,042
 
$1,069
 
$(1,919)
*There is no ineffective portion or amount excluded from effectiveness testing.
 
 
Aggregate Maturities of Long-Term Debt
Aggregate maturities of long-term debt, including short-term borrowings and capital leases, is as follows:
2019
$
34,471

2020
145,176

2021
482,102

2022
325

2023
247

Thereafter
298,281

 
$
960,602