Credit Facilities and Debt (Tables)

12 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Borrowing Obligations

At September 30, 2019 and 2018, we had the following borrowing obligations (dollars in thousands):

	September 30, 2019			September 30, 2018
5.625% Senior Notes due 2026, net of deferred issuance costs of $4.5 million and $5.1 million, respectively. Effective interest rate 5.625%.	$	495,518		$	494,915
5.375% Senior Notes due 2020, net of deferred issuance costs of $1.2 million. Effective interest rate 5.375%.	—			298,759
6.000% Senior Notes due 2024, net of deferred issuance costs of $1.5 million and $1.8 million, respectively. Effective interest rate 6.000%.	298,529			298,220
1.00% Convertible Debentures due 2035, net of unamortized discount of $91.6 million and $116.9 million, respectively, and deferred issuance costs of $4.3 million and $5.6 million, respectively. Effective interest rate 5.622%.	580,639			553,973
2.75% Convertible Debentures due 2031. Effective interest rate 7.432%.	46,568			46,568
1.25% Convertible Debentures due 2025, net of unamortized discount of $71.6 million and $82.4 million, respectively, and deferred issuance costs of $3.1 million and $3.7 million, respectively. Effective interest rate 5.578%.	275,257			263,863
1.50% Convertible Debentures due 2035, net of unamortized discount of $22.7 million and $32.8 million, respectively, and deferred issuance costs of $0.8 million and $1.1 million, respectively. Effective interest rate 5.394%.	240,406			229,906
Deferred issuance costs related to our Revolving Credit Facility	(511		)	(843		)
Total debt	1,936,406			2,185,361
Less: current portion	(1,142,870		)	—
Total long-term debt	$	793,536		$	2,185,361

Applicable Margin for Borrowings

At September 30, 2019 and 2018, we had the following borrowing obligations (dollars in thousands):

	September 30, 2019			September 30, 2018
5.625% Senior Notes due 2026, net of deferred issuance costs of $4.5 million and $5.1 million, respectively. Effective interest rate 5.625%.	$	495,518		$	494,915
5.375% Senior Notes due 2020, net of deferred issuance costs of $1.2 million. Effective interest rate 5.375%.	—			298,759
6.000% Senior Notes due 2024, net of deferred issuance costs of $1.5 million and $1.8 million, respectively. Effective interest rate 6.000%.	298,529			298,220
1.00% Convertible Debentures due 2035, net of unamortized discount of $91.6 million and $116.9 million, respectively, and deferred issuance costs of $4.3 million and $5.6 million, respectively. Effective interest rate 5.622%.	580,639			553,973
2.75% Convertible Debentures due 2031. Effective interest rate 7.432%.	46,568			46,568
1.25% Convertible Debentures due 2025, net of unamortized discount of $71.6 million and $82.4 million, respectively, and deferred issuance costs of $3.1 million and $3.7 million, respectively. Effective interest rate 5.578%.	275,257			263,863
1.50% Convertible Debentures due 2035, net of unamortized discount of $22.7 million and $32.8 million, respectively, and deferred issuance costs of $0.8 million and $1.1 million, respectively. Effective interest rate 5.394%.	240,406			229,906
Deferred issuance costs related to our Revolving Credit Facility	(511		)	(843		)
Total debt	1,936,406			2,185,361
Less: current portion	(1,142,870		)	—
Total long-term debt	$	793,536		$	2,185,361

Annual Aggregate Principal Term Loans to be Repaid

The following table summarizes the maturities of our borrowing obligations as of September 30, 2019 (dollars in thousands):

Fiscal Year	Convertible Debentures (1)			Senior Notes (2)			Total
2020	$	—		$	—		$	—
2021	—			—			—
2022	310,464			—			310,464
2023	676,488			—			676,488
2024	—			300,000			300,000
Thereafter	350,000			500,000			850,000
Total before unamortized discount	1,336,952			800,000			2,136,952
Less: unamortized discount and issuance costs	(194,082		)	(6,464		)	(200,546		)
Total long-term debt	$	1,142,870		$	793,536		$	1,936,406

⁽¹⁾  The repayment schedule above assumes that payment is due on the first contractual redemption date after September 30, 2019. As more fully described below, as of September 30, 2019, the holders had the right to convert all or any portion of their debentures until the close of business on October 1, 2019. As a result, the net carrying amounts of our convertible notes were included in current liabilities as of September 30, 2019. Upon the conclusion of the conversion period on October 1, 2019, none of the holders exercised their right to convert. As a result, the net carrying amounts of the convertible notes were reclassified back to long-term debt.

⁽²⁾ 

The repayment schedule reflects all the senior notes outstanding as of September 30, 2019. As more fully described below, on October 1, 2019, we redeemed all of the $300 million outstanding principal of the 2024 Senior Notes.