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DERIVATIVE FINANCIAL INSTRUMENTS
6 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS
In the ordinary course of business, the Company is exposed to commodity price risks relating to the purchases of raw materials. 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 March 31, 2026, 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 $120.4 and $136.6 at March 31, 2026 and September 30, 2025, 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.
March 31,
2026
September 30,
2025
Prepaid expenses and other current assets
$17.2 $— 
Other current liabilities0.9 12.6 
The following table presents the Company’s commodity derivative (gains) losses, which were recorded in “Cost of goods sold” in the Condensed Consolidated Statements of Operations.
Three Months Ended
March 31,
Six Months Ended
March 31,
2026202520262025
Unrealized (gain) loss on derivatives
$(25.6)$11.8 $(28.9)$12.5 
Realized loss (gain) on derivatives
2.0 (1.4)7.1 (2.9)
Total (gain) loss on derivatives
$(23.6)$10.4 $(21.8)$9.6 
The Company is required to maintain cash margin accounts with clearing brokers in connection with its exchange-traded commodity derivative instruments. As of March 31, 2026, the Company had received cash collateral from counterparties of $12.8, which was recorded within “Other current liabilities” on the Condensed Consolidated Balance Sheets. As of March 31, 2026 and September 30, 2025, the Company had posted cash collateral to counterparties of $0.6 and $17.3, respectively, which was recorded as “Restricted cash” on the Condensed Consolidated Balance Sheets.