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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Sep. 30, 2023

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,
			2023						2022
Commodity
Urea			52,500 tons						54,000 tons
Diesel			1,974,000 gallons						3,150,000 gallons
Heating Oil			966,000 gallons						1,218,000 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)
												2023						2022
Derivatives Designated as Hedging Instruments						Balance Sheet Location						Fair Value
Interest rate swap agreements						Prepaid and other current assets						$	16.7					$	12.8
						Other assets						14.7						18.2
Commodity hedging instruments						Prepaid and other current assets						2.3						2.4
Total derivatives designated as hedging instruments												$	33.7					$	33.4
Derivatives Not Designated as Hedging Instruments						Balance Sheet Location
Currency forward contracts						Prepaid and other current assets						$	5.6					$	3.4
Commodity hedging instruments						Prepaid and other current assets						0.9						0.4
Total derivatives not designated as hedging instruments												6.5						3.8
Total derivatives												$	40.2					$	37.2

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						2023						2022
Interest rate swap agreements						$	11.3					$	24.1
Commodity hedging instruments						(7.1)						5.8
Total						$	4.2					$	29.9

 

						Reclassified from AOCL into						Amount of Gain / (Loss)
Derivatives in Cash Flow Hedging Relationships						Statement of Operations						2023						2022
Interest rate swap agreements						Interest expense						$	11.5					$	(2.1)
Commodity hedging instruments						Cost of sales						5.9						8.9
Total												$	17.4					$	6.8

 

						Recognized in						Amount of Gain / (Loss)
Derivatives Not Designated as Hedging Instruments						Statement of Operations						2023						2022
Currency forward contracts						Other income / expense, net						$	(14.7)					$	17.9
Commodity hedging instruments						Cost of sales						1.2						10.5
Total												$	(13.5)					$	28.4

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Tabular disclosure of the volume of the entity's derivatives.

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E

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