Derivative Financial Instruments (Notes)

9 Months Ended

Jun. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative financial instruments and hedging

DERIVATIVE FINANCIAL INSTRUMENTS

In the ordinary course of business, the Company is exposed to commodity price risks relating to the purchases of raw materials and supplies. The Company utilizes derivative instruments, such as futures and option contracts to manage certain of these exposures by hedging when it is practical to do so. The Company does not hold or issue financial instruments for speculative or trading purposes.

At June 30, 2025, the Company’s derivative instruments, none of which were designated as hedging instruments under Accounting Standards Codification (“ASC”) Topic 815, “Derivatives and Hedging,” consisted of commodity futures and option contracts which relate to inputs that generally will be utilized within the next twelve months. The notional amounts of the commodity contracts were $173.7 and $53.5 at June 30, 2025 and September 30, 2024, respectively.

The following table presents the balance sheet location and fair value of the Company’s commodity contracts. The Company does not offset derivative assets and liabilities within the Condensed Consolidated Balance Sheets.

	June 30, 2025		September 30, 2024
Prepaid expenses and other current assets	$	0.1	$	2.7
Other current liabilities	$	4.9	$	0.1

The Company recognized a (gain) loss on derivatives of $(1.0) and $8.6 during the three and nine months ended June 30, 2025, respectively, and $(0.1) and $6.0 during the three and nine months ended June 30, 2024, respectively, which were recorded in “Cost of goods sold” in the Condensed Consolidated Statements of Operations.

At June 30, 2025 and September 30, 2024, the Company had cash deposits which served as pledged collateral for certain of its commodity contracts of $11.2 and $0.3, respectively, which were classified as “Restricted cash” on the Condensed Consolidated Balance Sheets.