Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v3.5.0.2
LONG-TERM DEBT (Tables)
 12 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]  
Long-Term Debt
Long-term debt at September 30, 2016 and 2015 consisted of the following:
 
2016
 
2015
Revolving credit facilities
$
608,000

 
$
884,254

Senior secured term loan
246,449

 
—

Notes payable to banks
5,301

 
8,506

Short-term borrowings
8,617

 
5,199

Capital lease obligations
4,187

 
4,995

 
872,554

 
902,954

Less current maturities
(27,747
)
 
(11,737
)
 
$
844,807

 
$
891,217

Interest Rate Swaps
The following table presents information related to interest rate contracts entered into by the Company and designated as cash flow hedges:
 
 
Year Ended September 30, 2016
 
Year Ended September 30, 2015
Pay fixed swaps - notional amount
 
$
403,125

 
$
300,000

Net unrealized loss
 
$
5,834

 
$
3,686

Weighted-average maturity period (years)
 
3.9

 
3.4

Weighted-average received rate
 
0.53
%
 
0.20
%
Weighted-average pay rate
 
1.26
%
 
1.65
%

Derivatives Designated as Hedging Instruments
At September 30, 2016 and 2015, the interest rate swap contracts were reflected on a gross-basis in the consolidated balance sheets as follows:

Derivatives:
2016
 
2015
Current assets:
 
 
 
Other current assets
$
43

 
$
—

Long-term assets:
 

 
 

Other assets
150

 
—

Current liabilities:
 

 
 

Other current liabilities
(1,529
)
 
(1,165
)
Long-term liabilities:
 

 
 

Other liabilities
(4,498
)
 
(2,521
)
Total derivatives
$
(5,834
)
 
$
(3,686
)
Loss Recognized on Derivatives
The loss recognized on derivatives was as follows:
Derivatives in Cash Flow Hedging Relationships
 
Location of Loss Recognized in Income on Derivatives
 
Amount of Loss Recognized in Income on Derivatives
 
 
 
 
2016
 
2015
Interest rate swaps
 
Interest expense
 
$(3,146)
 
$(3,922)

The Company recognized the following losses in AOCI:
Derivatives in Cash Flow Hedging Relationships
 
 Amount of Loss Recognized in AOCI on Derivatives
 
Location of Gain or (Loss) Reclassified from AOCI into Income
 
Amount of Loss Reclassified from AOCI into Income(Effective Portion*)
 
 
2016
 
2015
 
(Effective Portion*)
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
 
$(3,230)
 
$(4,841)
 
Interest expense
 
$(1,919)
 
$(2,392)
 
 
 
 
 
 
 
 
 
 
 
*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:

2017
$
27,747

2018
21,470

2019
25,212

2020
25,222

2021
770,304

Thereafter
2,599

 
$
872,554