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Financial Instruments and Risk Management (Tables)

6 Months Ended

Mar. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value of the Partnership's Derivative Instruments and their Location in the Condensed Consolidated Balance Sheets

The following summarizes the fair value of the Partnership’s derivative instruments and their location in the condensed consolidated balance sheets as of March 30, 2024 and September 30, 2023, respectively:

		As of March 30, 2024						As of September 30, 2023
Asset Derivatives		Location		Fair Value				Location		Fair Value
Derivatives not designated as    hedging instruments:
Commodity-related derivatives		Other current assets		$	7,825			Other current assets		$	18,538
		Other assets			—			Other assets			8
				$	7,825					$	18,546
Liability Derivatives		Location		Fair Value				Location		Fair Value
Derivatives not designated as    hedging instruments:
Commodity-related derivatives		Other current liabilities		$	2,182			Other current liabilities		$	2,427
		Other liabilities			1,068			Other liabilities			4,784
				$	3,250					$	7,211

Reconciliation of the Beginning and Ending Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs

The following summarizes the reconciliation of the beginning and ending balances of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs:

		Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
		Six Months Ended								Six Months Ended
		March 30, 2024								March 25, 2023
		Assets				Liabilities				Assets				Liabilities
Beginning balance of over-the-counter options		$	—			$	806			$	222			$	3,408
Beginning balance realized during the period			—				(806	)			(100	)			(871	)
Contracts purchased during the period			—				—				—				—
Change in the fair value of outstanding contracts			—				—				(114	)			(232	)
Ending balance of over-the-counter options		$	—			$	—			$	8			$	2,305

Effect of the Partnership's Derivative Instruments on the Condensed Consolidated Statements of Operations

The effect of the Partnership’s derivative instruments on the condensed consolidated statements of operations for the three and six months ended March 30, 2024 and March 25, 2023 are as follows:

Three Months Ended March 30, 2024

Three Months Ended March 25, 2023

Derivatives Not Designated as Hedging Instruments

Unrealized Gains (Losses)  Recognized in Income

Unrealized Gains (Losses) Recognized in Income

Location

Amount

Location

Amount

Commodity-related derivatives

Cost of products sold

$

5,868

Cost of products sold

$

(4,501

)

Six Months Ended March 30, 2024

Six Months Ended March 25, 2023

Derivatives Not Designated as Hedging Instruments

Unrealized Gains (Losses) Recognized in Income

Unrealized Gains (Losses) Recognized in Income

Location

Amount

Location

Amount

Commodity-related derivatives

Cost of products sold

$

(4,918

)

Cost of products sold

$

(18,207

)

Fair Value of Partnership's Recognized Derivative Assets and Liabilities on a Gross Basis and Amounts Offset on Condensed Consolidated Balance Sheets

The following table presents the fair value of the Partnership’s recognized derivative assets and liabilities on a gross basis and amounts offset on the condensed consolidated balance sheets subject to enforceable master netting arrangements or similar agreements:

		As of March 30, 2024												As of September 30, 2023
										Net amounts												Net amounts
										presented in the												presented in the
		Gross amounts				Effects of netting				balance sheet				Gross amounts				Effects of netting				balance sheet
Asset Derivatives
Commodity-related derivatives		$	12,368			$	(4,543	)		$	7,825			$	35,339			$	(16,793	)		$	18,546
Liability Derivatives
Commodity-related derivatives		$	7,793			$	(4,543	)		$	3,250			$	24,004			$	(16,793	)		$	7,211

Fair Value of the Partnership's Senior Notes

The fair values of the Senior Notes are based upon quoted market prices (a Level 1 input) and the fair value of the Green Bonds is based upon a valuation model (a Level 3 input). Senior Notes, Revolving Credit Facility and Green Bonds are defined below in Note 10 (“Long-Term Borrowings”) and the fair values of the Senior Notes and Green Bonds are as follows:

		As of
		March 30,				September 30,
		2024				2023
5.875% Senior Notes due March 1, 2027		$	346,812			$	334,250
5.00% Senior Notes due June 1, 2031			592,501				541,658
5.50% Green Bonds due October 1, 2028 through October 1, 2033			64,658				63,031
		$	1,003,971			$	938,939

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+ References

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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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-Topic 815
-SubTopic 10
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