v3.25.1
Physical Commodities Inventory (Tables)
6 Months Ended
Mar. 31, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventory
The Company’s inventories consist of physical commodities as shown below:
(in millions)March 31,
2025
September 30,
2024
Physical agriculture and energy$255.1 $169.0 
Precious metals - held by broker-dealer subsidiary248.0 207.6 
Precious metals - held by non-broker-dealer subsidiaries(1)
293.1 304.5 
Physical commodities inventory, net$796.2 $681.1 
(1)Includes raw materials of $7.5 million and work in process of $26.1 million as of March 31, 2025
Physical agriculture and energy consists of agricultural commodity inventories, including corn, soybeans, wheat, dried distillers grain, canola, sorghum, coffee, cocoa, cotton, and various energy commodity inventories. Agricultural inventories have reliable, readily determinable and realizable market prices, have relatively insignificant costs of disposal and are available for immediate delivery. The Company records changes to these values in Cost of sales of physical commodities on the Condensed Consolidated Income Statements.