XML 38 R24.htm IDEA: XBRL DOCUMENT v3.25.3
Insurance Recoveries
12 Months Ended
Sep. 30, 2025
Insurance Recovery [Abstract]  
Insurance Recoveries

Note K. Insurance Recoveries

In July 2021, the Company’s Specialty Compounds manufacturing and research and development facility in Pepinster, Belgium experienced significant flooding. Full production, which was temporarily halted, resumed in the second quarter of fiscal 2022. The Company agreed to a final insurance settlement in fiscal 2023 for total proceeds of $33 million.

During fiscal 2023, the Company recognized gains of $9 million related to lost margin and the replacement value of fixed assets exceeding their net book value. The flood-related expenses, loss recoveries and gains are included within Cost of sales in the Consolidated Statements of Operations in fiscal 2023.

During fiscal 2023, the Company received insurance proceeds of $14 million. Of the proceeds received, $12 million is included in Cash provided by investing activities and $2 million is included in Cash provided by operating activities for fiscal 2023 in the Consolidated Statements of Cash Flows. Proceeds of $19 million were received and recognized prior to fiscal 2023, as reported in previous filings.