Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v3.21.2
LONG-TERM DEBT (Tables)
 12 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Long-Term Debt
Long-term debt at September 30, 2021 and 2020 consisted of the following:
  2021 2020
Revolving credit facilities $ 350,597  $ 416,793 
Securitization facility 95,990  67,700 
Senior secured term loan —  22,359 
2025 Senior Notes 297,796  297,256 
Other borrowings 10,150  20,742 
Finance lease obligations 9,177  9,684 
Total debt 763,710  834,534 
Less current maturities (4,624) (26,824)
Long-term debt $ 759,086  $ 807,710 
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, 2021 September 30, 2020
Pay fixed swaps - notional amount $ 250,000  $ 312,500 
Net unrealized loss $ (2,062) $ (7,792)
Weighted-average maturity period (years) 2.2 2.6
Weighted-average received rate 0.08  % 0.15  %
Weighted-average pay rate 1.34  % 1.34  %
Interest Rate Swap Contracts Reflected in Consolidated Balance Sheets
At September 30, 2021 and 2020, the interest rate swap contracts were reflected on a gross-basis in the consolidated balance sheets as follows:
Derivatives: 2021 2020
Current assets:
Other current assets $ 31  $ — 
Long-term assets:    
Other assets 139  — 
Current liabilities:    
Other current liabilities (1,922) (3,164)
Long-term liabilities:    
Other liabilities (310) (4,628)
Total derivatives $ (2,062) $ (7,792)
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
    2021 2020 2019
Interest rate swaps Interest expense $(3,249) $(861) $3,181

The Company recognized the following (losses) gains in AOCI:
Derivatives in Cash Flow Hedging Relationships  Amount of Gain (Loss) 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*)
2021 2020 2019 (Effective Portion*) 2021 2020 2019
Interest rate swaps $1,873 $(6,130) $(6,540) Interest expense $(2,453) $(650) $2,402
* 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:

2022 $ 97,757 
(a)
2023 1,058 
2024 1,055 
2025 350,854 
2026 298,892 
Thereafter 4,917 
  754,533 
Finance lease obligations 9,177 
(b)
$ 763,710 
(a) The Company maintains certain debt facilities with current maturity dates in fiscal 2022 that it intends and has the ability to extend beyond fiscal 2022 totaling $96,807. 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."