Debt (Tables)
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9 Months Ended |
Jun. 30, 2022 |
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| Debt Disclosure [Abstract] |
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| Schedule of Debt |
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| Table 7.1: Details of Debt |
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June 30, 2022 |
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September 30, 2021 |
|
(in thousands) |
| Term Loan A, due 2026 |
$ |
1,045,000 |
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|
$ |
1,086,250 |
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| Term Loan B, due 2028 |
396,000 |
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|
399,000 |
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| Subsidiary loan agreements |
3,645 |
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|
38,281 |
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| Revolver |
50,000 |
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— |
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| Total debt principal |
1,494,645 |
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|
1,523,531 |
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| Less: Unamortized debt-issuance costs and discounts |
(11,671) |
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|
(13,839) |
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| Total debt |
1,482,974 |
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|
1,509,692 |
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| Less: Current portion of long-term debt |
(59,698) |
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|
(80,555) |
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| Long-term debt |
$ |
1,423,276 |
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$ |
1,429,137 |
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| Schedule of Maturities of Long-term Debt |
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| Table 7.2: Details of Future Minimum Principal Payments Due |
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Amount Due |
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(in thousands) |
| July 1, 2022 through September 30, 2022 |
$ |
18,328 |
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| Year ending September 30, 2023 |
65,942 |
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| Year ending September 30, 2024 |
86,500 |
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| Year ending September 30, 2025 |
93,375 |
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| Year ending September 30, 2026 |
851,500 |
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| Thereafter |
379,000 |
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| Total payments |
$ |
1,494,645 |
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| Schedule of Derivative Assets at Fair Value |
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| Table 7.3: Details of Derivatives Fair Value |
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June 30, 2022 |
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September 30, 2021 |
|
(in thousands) |
| Assets: |
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| Interest rate swap |
$ |
21,864 |
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|
$ |
— |
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| Total assets |
$ |
21,864 |
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|
$ |
— |
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| Liabilities: |
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| Interest rate swap |
$ |
— |
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|
$ |
410 |
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| Total liabilities |
$ |
— |
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$ |
410 |
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| Schedule of Derivative Liabilities at Fair Value |
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| Table 7.3: Details of Derivatives Fair Value |
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June 30, 2022 |
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September 30, 2021 |
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(in thousands) |
| Assets: |
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| Interest rate swap |
$ |
21,864 |
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|
$ |
— |
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| Total assets |
$ |
21,864 |
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|
$ |
— |
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| Liabilities: |
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| Interest rate swap |
$ |
— |
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|
$ |
410 |
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| Total liabilities |
$ |
— |
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$ |
410 |
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| Schedule of Losses on Derivatives |
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| Table 7.4: Gains on Derivatives |
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For the Three Months Ended |
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For the Nine Months Ended |
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June 30, 2022 |
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June 30, 2021 |
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June 30, 2022 |
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June 30, 2021 |
|
(in thousands) |
| Net gains/(losses) recognized in AOCI on derivatives, net of tax (1) |
$ |
2,904 |
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$ |
(1,062) |
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$ |
15,306 |
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$ |
(1,062) |
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| Amounts reclassified to earnings from accumulated other comprehensive loss (2) |
138 |
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— |
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|
1,110 |
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— |
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| Net current period other comprehensive income |
$ |
3,042 |
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$ |
(1,062) |
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$ |
16,416 |
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$ |
(1,062) |
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(1)Amount is net of tax expense of $1.0 million and $5.5 million for the three and nine months ended June 30, 2022, respectively. For the three and nine months ended June 30, 2021, $0.4 million was recorded as a tax benefit.
(2)Amount is net of a tax expense of $0.0 million and $0.4 million for the three and nine months ended June 30, 2022, respectively. No tax credit or expense was recorded for the three and nine months ended June 30, 2021.
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