Financial Instruments and Fair Value Measurements |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Instruments and Fair Value Measurements | Note 17 — Financial Instruments and Fair Value Measurements The following reconciles Cash and equivalents and Restricted cash reported within the Condensed Consolidated Balance Sheets as of March 31, 2026 and September 30, 2025, to the total amounts shown in the Condensed Consolidated Statements of Cash Flows:
Cash and equivalents as of March 31, 2026 includes cash held in money market funds and other cash equivalents. All cash and equivalents are Level 1 in the fair value hierarchy. Interest income on Cash and equivalents was $0.7 million and $1.6 million for the three and six months ended March 31, 2026, and $1.3 million and $3.1 million for the three and six months ended March 31, 2025, respectively, and is included as a component of Interest expense, net. Restricted cash consists of cash not readily available for use in the Company's operating activities. The Company's restricted cash balance consists of amounts pledged as collateral for bank guarantees related to certain customer performance guarantees, international property leases, and amounts collected on behalf of the financial institution, which have yet to be remitted associated with the Company's trade receivables sale agreement. Foreign Currency Risks and Related Strategies The Company has foreign currency exposures throughout Europe, Asia, Canada and Latin America. Transactional currency exposures that arise from entering into transactions, generally on an intercompany basis, in non-hyperinflationary countries that are denominated in currencies other than the functional currency are mitigated, in part, through the use of forward contracts. The notional amounts of the Company’s foreign currency-related derivative instruments were as follows as of March 31, 2026 and September 30, 2025:
(a)Represents hedges of transactional foreign exchange exposures resulting primarily from intercompany payables and third-party transactions. Gains and losses on these instruments are recognized immediately in Other income (expense), net. These gains and losses are largely offset by gains and losses on the underlying hedged items, as well as the hedging costs associated with the derivative instruments. Gains and losses recognized to date on these instruments were not material to the Company's Condensed Consolidated Financial Statements. (b)Represents hedges of the British pound sterling denominated purchase price of the pending acquisition of Owen Mumford entered during the second quarter of fiscal year 2026. Gains and losses on these instruments are recognized immediately in Other income (expense), net. Gains and losses recognized to date on these instruments were not material to the Company's Condensed Consolidated Financial Statements. Nonrecurring Fair Value Measurements Non-financial assets, including property, plant and equipment as well as intangible assets, are measured at fair value when there are indicators of impairment and these assets are recorded at fair value only when an impairment is recognized. These measurements of fair value are generally based upon Level 3 inputs, including values estimated using the income approach. In the first half of fiscal year 2025, the Company recorded non-cash asset impairment charges of $10.4 million to write down the carrying value of certain property and equipment as a result of the Company's plan to discontinue the patch pump program. $6.1 million was recorded to Cost of products sold and $4.3 million was recorded to Research and development expense. The amount recognized was recorded to adjust the carrying amount of assets to the assets' fair values, which were estimated, based upon a market participant's perspective, using Level 3 measurements, including values estimated using the income approach. Concentration of Credit Risk Three of the Company’s customers represented at least 10.0% of total gross revenues individually and, in the aggregate, represented approximately 39.1% for the three months ended March 31, 2026, and three of the Company's customers represented at least 10.0% of total gross revenues individually and, in the aggregate, represented approximately 38.0% of total revenues for the six months ended March 31, 2026. One of the Company's customers represented at least 10.0% of total gross trade receivables individually and represented approximately 14.8% as of March 31, 2026. Substantially all of the Company’s trade receivables are due from public and private entities involved in the healthcare industry. The Company does not normally require collateral from its customers.
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