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Debt | 3 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Debt Disclosure [Text Block] | 4. DEBT As of December 31, 2024, we were a party to the Third Amended and Restated Credit and Security Agreement (the “Third Credit Agreement”), which provided for a maximum borrowing amount of $150,000 under our revolving credit facility. Borrowings were limited by a borrowing base determined based on available collateral. The Third Credit Agreement, which was scheduled to mature on September 30, 2026, contained customary affirmative, negative and financial covenants as disclosed in Item 7 of our Annual Report on Form 10-K for the fiscal year ended September 30, 2024. As of December 31, 2024, the Company was in compliance with the financial covenants under the Third Credit Agreement. At December 31, 2024 and September 30, 2024, we had no outstanding borrowings under our revolving credit facility. At December 31, 2024, we had $5,545 in outstanding letters of credit and total availability of $144,036 under our revolving credit facility without triggering the financial covenants under the Third Credit Agreement. Fourth Amended and Restated Credit and Security Agreement On January 21, 2025 we entered into the Fourth Amended and Restated Credit Agreement (the “Amended Credit Agreement”). Pursuant to the Amended Credit Agreement, our revolver amount increased from $150,000 to $300,000, and the maturity date was extended from September 30, 2026, to January 21, 2030. Under the Amended Credit Agreement, the Company is subject to certain financial covenants including a maximum Consolidated Total Leverage Ratio (as defined in the Amended Credit Agreement) of 3.00 to 1.00 and a minimum Consolidated Interest Coverage Ratio (as defined in the Amended Credit Agreement) of 3.00 to 1.00. The limitation on borrowings based on available collateral was eliminated under the Amended Credit Agreement. Amounts outstanding bear interest at a rate equal to either (1) the Base Rate (which is the greater of the Federal Funds Rate (as defined in the Amended Credit Agreement) and the Prime Rate (as defined in the Amended Credit Agreement)), (2) the Daily Simple SOFR (as defined in the Amended Credit Agreement) or (3) Term SOFR (as defined in the Amended Credit Agreement), plus, in each case, an interest rate margin, which is determined quarterly based on our Consolidated Total Leverage Ratio, in accordance with the following thresholds:
Pricing Level |  | Consolidated Total Leverage Ratio |  | Interest Margin applicable to Daily Simple SOFR/Term SOFR |  | Interest Margin applicable to Base Rate
I |  | Greater than or equal to 2.50 to 1.00 |  | 2.25 percentage points |  | 1.25 percentage points
II |  | Greater than or equal to 1.75 to 1.00, but less than 2.50 to 1.00 |  | 2.00 percentage points |  | 1.00 percentage points
III |  | Greater than or equal to 1.00 to 1.00, but less than 1.75 to 1.00 |  | 1.75 percentage points |  | 0.75 percentage points
IV |  | Less than 1.00 to 1.00 |  | 1.50 percentage points |  | 0.50 percentage points
In addition, we are charged monthly in arrears for an unused commitment fee of 0.25% to 0.35% per annum on any unused portion of the revolving credit facility based on the Company's Consolidated Total Leverage Ratio. The Amended Credit Agreement restricts certain types of transactions when the Company’s Consolidated Total Leverage Ratio, after giving pro forma effect thereto, exceeds 2.75 to 1.00. The Amended Credit Agreement continues to contain other customary affirmative and negative covenants as well as events of default.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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