Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v3.20.2
LONG-TERM DEBT (Tables)
 12 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Long-Term Debt
Long-term debt at September 30, 2020 and 2019 consisted of the following:
  2020 2019
Revolving credit facilities $ 416,793  $ 476,132 
Securitization facility 67,700  93,950 
Senior secured term loan 22,359  53,497 
2025 Senior Notes 297,256  296,716 
Notes payable to banks —  16,376 
Other borrowings 20,742  395 
Finance lease obligations 9,684  3,631 
  834,534  940,697 
Less current maturities (26,824) (42,503)
  $ 807,710  $ 898,194 
Interest Rate Contracts
The following table presents information related to interest rate contracts entered into by the Company and designated as cash flow hedges:
September 30, 2020 September 30, 2019
Pay fixed swaps - notional amount $ 312,500  $ 293,750 
Net unrealized loss $ (7,792) $ (534)
Weighted-average maturity period (years) 2.6 1.9
Weighted-average received rate 0.15  % 2.02  %
Weighted-average pay rate 1.34  % 1.41  %
Interest Rate Swap Contracts Reflected in Consolidated Balance Sheets
At September 30, 2020 and 2019, the interest rate swap contracts were reflected on a gross-basis in the consolidated balance sheets as follows:

Derivatives: 2020 2019
Current assets:
Other current assets $ —  $ 548 
Long-term assets:    
Other assets —  297 
Current liabilities:    
Other current liabilities (3,164) (484)
Long-term liabilities:    
Other liabilities (4,628) (895)
Total derivatives $ (7,792) $ (534)
Gains (Losses) Recognized on Derivatives
The (losses) gains recognized on derivatives was as follows:
Derivatives in Cash Flow Hedging Relationships Location of (Loss) Gain Recognized in Income on Derivatives Amount of (Loss) Gain Recognized in Income on Derivatives
    2020 2019 2018
Interest rate swaps Interest expense $(861) $3,181 $1,380
The Company recognized the following (losses) gains in AOCI:
Derivatives in Cash Flow Hedging Relationships  Amount of (Loss) Gain Recognized in AOCI on Derivatives Location of (Loss) Gain Reclassified from AOCI into Income Amount of (Loss) Gain Reclassified from AOCI into Income (Effective Portion*)
2020 2019 2018 (Effective Portion*) 2020 2019 2018
Interest rate swaps $(6,130) $(6,540) $6,095 Interest expense $(650) $2,402 $1,042
* There is no ineffective portion or amount excluded from effectiveness testing.
Aggregate Maturities of Long-Term Debt
Aggregate maturities by fiscal year of long-term debt, including other borrowings, is as follows:
2021 $ 55,564 
(a)
2022 68,650 
2023 979 
2024 979 
2025 395,816 
Thereafter 302,862 
  824,850 
Finance lease obligations 9,684 
(b)
$ 834,534 
(a) The Company maintains certain debt facilities with current maturity dates in fiscal 2021 that it intends and has the ability to extend beyond fiscal 2021 totaling $32,255. These balances have been classified as non-current on the Company's Consolidated Balance Sheet.
(b) Aggregate maturities of finance lease obligations can be found in Note 10, "Leases."