v3.26.1
Leases
 6 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases
Note 19 — Leases
Finance Leases
The Company's finance lease assets and liabilities are attributed to its manufacturing site in Holdrege, Nebraska, which has an initial term of ten years and an option for the Company to extend the lease term for an additional period of up to five years. This lease is classified as a finance lease because the present value of the sum of the lease payments associated with the lease exceeds substantially all of the fair value of the manufacturing site.
Operating Leases
The Company's operating leases primarily relate to its real estate leases that are not classified as finance leases.
Aggregate Lease Information
The Company's leases are included in its Condensed Consolidated Balance Sheets as follows:
 March 31, 2026September 30, 2025
Finance Leases
Property, Plant, and Equipment, Net$27.1 $28.3 
Total Finance Lease Assets$27.1 $28.3 
Current finance lease liabilities$3.5 $3.4 
Non Current Finance Lease Liabilities27.8 28.7 
Total Finance Lease Liabilities$31.3 $32.1 
Weighted-average remaining lease term (years)11.011.5
Weighted-average discount rate6.8 %6.8 %
Operating Leases
Other Assets$17.5 $20.2 
Total Operating Lease Assets$17.5 $20.2 
Accrued expenses$5.6 $6.9 
Deferred Income Taxes and Other Liabilities9.2 10.2 
Total Operating Lease Liabilities$14.8 $17.1 
Weighted-average remaining lease term (years)5.85.6
Weighted-average discount rate7.2 %6.6 %
Lease costs incurred are as follows:
Three months ended March 31,
(in millions)Classification20262025
Operating lease expenseSelling and administrative and Research and Development expense $2.9 $2.9 
Finance lease cost:
Depreciation of lease assetsCost of products sold1.2 1.2 
Interest on lease liabilitiesInterest expense, net1.1 1.1 
Total lease cost$5.2 $5.2 
Supplemental cash flow information related to leases for the six months ended March 31, 2026 and 2025 were as follows:
 March 31, 2026March 31, 2025
Cash used for amounts included in the measurement of lease liabilities
Operating cash flows from Operating Leases
$2.8 $2.9 
Financing cash flows from Finance Lease
0.8 0.6 
Operating cash flows from Finance Lease
1.1 1.1 
For both the three and six months ended March 31, 2026 and 2025, right of use assets obtained in exchange for lease liabilities were not material.
Maturities of the Company's finance and operating lease liabilities as of March 31, 2026 by fiscal year are as follows:
 Finance LeasesOperating LeasesTotal
2026$1.9 $3.0 $4.9 
20273.8 3.3 7.1 
20283.9 2.1 6.0 
20293.9 2.2 6.1 
20304.0 1.8 5.8 
Thereafter28.3 5.7 34.0 
Total lease payments$45.8 $18.1 $63.9 
Less: amount representing interest14.5 3.3 17.8 
Present value of lease liabilities$31.3 $14.8 $46.1 
Leases
Note 19 — Leases
Finance Leases
The Company's finance lease assets and liabilities are attributed to its manufacturing site in Holdrege, Nebraska, which has an initial term of ten years and an option for the Company to extend the lease term for an additional period of up to five years. This lease is classified as a finance lease because the present value of the sum of the lease payments associated with the lease exceeds substantially all of the fair value of the manufacturing site.
Operating Leases
The Company's operating leases primarily relate to its real estate leases that are not classified as finance leases.
Aggregate Lease Information
The Company's leases are included in its Condensed Consolidated Balance Sheets as follows:
 March 31, 2026September 30, 2025
Finance Leases
Property, Plant, and Equipment, Net$27.1 $28.3 
Total Finance Lease Assets$27.1 $28.3 
Current finance lease liabilities$3.5 $3.4 
Non Current Finance Lease Liabilities27.8 28.7 
Total Finance Lease Liabilities$31.3 $32.1 
Weighted-average remaining lease term (years)11.011.5
Weighted-average discount rate6.8 %6.8 %
Operating Leases
Other Assets$17.5 $20.2 
Total Operating Lease Assets$17.5 $20.2 
Accrued expenses$5.6 $6.9 
Deferred Income Taxes and Other Liabilities9.2 10.2 
Total Operating Lease Liabilities$14.8 $17.1 
Weighted-average remaining lease term (years)5.85.6
Weighted-average discount rate7.2 %6.6 %
Lease costs incurred are as follows:
Three months ended March 31,
(in millions)Classification20262025
Operating lease expenseSelling and administrative and Research and Development expense $2.9 $2.9 
Finance lease cost:
Depreciation of lease assetsCost of products sold1.2 1.2 
Interest on lease liabilitiesInterest expense, net1.1 1.1 
Total lease cost$5.2 $5.2 
Supplemental cash flow information related to leases for the six months ended March 31, 2026 and 2025 were as follows:
 March 31, 2026March 31, 2025
Cash used for amounts included in the measurement of lease liabilities
Operating cash flows from Operating Leases
$2.8 $2.9 
Financing cash flows from Finance Lease
0.8 0.6 
Operating cash flows from Finance Lease
1.1 1.1 
For both the three and six months ended March 31, 2026 and 2025, right of use assets obtained in exchange for lease liabilities were not material.
Maturities of the Company's finance and operating lease liabilities as of March 31, 2026 by fiscal year are as follows:
 Finance LeasesOperating LeasesTotal
2026$1.9 $3.0 $4.9 
20273.8 3.3 7.1 
20283.9 2.1 6.0 
20293.9 2.2 6.1 
20304.0 1.8 5.8 
Thereafter28.3 5.7 34.0 
Total lease payments$45.8 $18.1 $63.9 
Less: amount representing interest14.5 3.3 17.8 
Present value of lease liabilities$31.3 $14.8 $46.1