XML 37 R26.htm IDEA: XBRL DOCUMENT v3.25.4
Summary of Significant Accounting Policies (Policies)
3 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
New Accounting Pronouncements, Policy
Recently issued accounting standards

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. ASU 2023-09 will be effective for annual periods beginning after December 15, 2024 (fiscal 2026). The Company is currently evaluating the impact of ASU 2023-09 on the Consolidated Financial Statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03), which requires, among other items, additional disaggregated disclosures in the notes to financial statements for certain categories of expenses that are included on the face of the Consolidated Statement of Operations. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026 (fiscal 2028), and for interim periods within fiscal years beginning after December 15, 2027 (fiscal 2029), with early adoption permitted. The Company is currently evaluating the impact of ASU 2024-03 on the Consolidated Financial Statements.

No other new accounting pronouncements recently adopted or issued had or are expected to have a material impact on the Consolidated Financial Statements.
Revenue
Net revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services and is recognized when performance obligations are satisfied under the terms of contracts with customers.
Revenue Recognition, Deferred Revenue
Contract balances

The balance in receivables from long-term manufacturing contracts at December 31, 2025 and September 30, 2025, was $274.7 and $278.8, respectively. The change was driven by the impact of net revenue recognized prior to billings to customers. The balance in the liabilities from long-term manufacturing contracts and advances at December 31, 2025 and September 30, 2025, was $238.9 and $241.9, respectively, and consists primarily of cash payments received or due in advance of satisfying performance obligations. The net revenue recognized for the three months ended December 31, 2025 and 2024, related to liabilities from long-term manufacturing contracts and advances as of September 30, 2025 and 2024, was $76.0 and $95.6, respectively. During the three months ended December 31, 2025 and 2024, the adjustments related to performance obligations satisfied in previous periods were immaterial.