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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Commodity Contracts that Hedge Forecasted Purchases

The Company had the following outstanding commodity contracts that were entered into to hedge forecasted purchases:

			September 30,
			2021						2020
Commodity
Urea			94,500 tons						76,500 tons
Resin			— pounds						9,100,000 pounds
Diesel			5,880,000 gallons						5,838,000 gallons
Heating Oil			2,268,000 gallons						2,142,000 gallons

Summary of Fair Values of the Company's Derivative Instruments

The fair values of the Company’s derivative instruments, which represent Level 2 fair value measurements, were as follows:

												Assets / (Liabilities)
												2021						2020
Derivatives Designated As Hedging Instruments						Balance Sheet Location						Fair Value
Interest rate swap agreements						Other assets						$	3.3					$	—
						Other current liabilities						(5.7)						(10.4)
						Other liabilities						(2.5)						(9.7)
Commodity hedging instruments						Prepaid and other current assets						13.9						0.9
						Other current liabilities						—						(0.7)
Total derivatives designated as hedging instruments												$	9.0					$	(19.9)
Derivatives Not Designated As Hedging Instruments						Balance Sheet Location
Currency forward contracts						Prepaid and other current assets						$	3.4					$	0.5
						Other current liabilities						(0.2)						(1.9)
Commodity hedging instruments						Prepaid and other current assets						1.3						—
						Other current liabilities						—						(0.9)
Total derivatives not designated as hedging instruments												4.5						(2.3)
Total derivatives												$	13.5					$	(22.2)

Schedule of the Effect of Derivative Instruments on AOCI and Operations

The effect of derivative instruments on AOCL, net of tax, and the Consolidated Statements of Operations for the years ended September 30 was as follows:

 

						Amount Of Gain / (Loss) Recognized In AOCL
Derivatives In Cash Flow Hedging Relationships						2021						2020
Interest rate swap agreements						$	3.4					$	(13.3)
Commodity hedging instruments						16.4						(1.3)
Total						$	19.8					$	(14.6)

 

						Reclassified From AOCL Into						Amount Of Gain / (Loss)
Derivatives In Cash Flow Hedging Relationships						Statement Of Operations						2021						2020
Interest rate swap agreements						Interest expense						$	(7.7)					$	(6.6)
Commodity hedging instruments						Cost of sales						2.3						(0.9)
Total												$	(5.4)					$	(7.5)

 

						Recognized In						Amount Of Gain / (Loss)
Derivatives Not Designated As Hedging Instruments						Statement of Operations						2021						2020
Currency forward contracts						Other income / expense, net						$	(4.2)					$	(5.3)
Commodity hedging instruments						Cost of sales						4.5						(3.1)
Total												$	0.3					$	(8.4)

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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