Derivatives and Hedging-Disclosures and Fair Value Measurements (Tables)
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9 Months Ended |
Jun. 30, 2026 |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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| Company's Commodity Financial Assets and Liabilities Measured at Fair Value on Recurring Basis |
The Company had no assets or liabilities that are measured at fair value on a non-recurring basis subsequent to their initial recognition. The Company’s commodity financial assets and liabilities measured at fair value on a recurring basis are listed on the following table.
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(In thousands) |
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Fair Value Measurements at Reporting Date Using: |
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Derivatives Not Designated
as Hedging Instruments |
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Quoted Prices in
Active Markets for
Identical Assets |
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Significant Other
Observable Inputs |
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Under FASB ASC 815-10 |
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Balance Sheet Location |
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Total |
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Level 1 |
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Level 2 |
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Asset Derivatives at June 30, 2026 |
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Commodity contracts |
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Fair asset value of derivative instruments |
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$ |
17,892 |
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$ |
— |
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$ |
17,892 |
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Commodity contracts |
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Long-term derivative assets included in the deferred charges and other assets, net and other long-term liabilities, net balances |
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719 |
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— |
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719 |
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Commodity contract assets at June 30, 2026 |
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$ |
18,611 |
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$ |
— |
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$ |
18,611 |
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Liability Derivatives at June 30, 2026 |
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Commodity contracts |
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Fair asset value of derivative instruments |
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$ |
(7,073 |
) |
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$ |
— |
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$ |
(7,073 |
) |
Commodity contracts |
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Long-term derivative assets included in the deferred charges and other assets, net and other long-term liabilities, net balances |
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(564 |
) |
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— |
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(564 |
) |
Commodity contract liabilities at June 30, 2026 |
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$ |
(7,637 |
) |
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$ |
— |
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$ |
(7,637 |
) |
Asset Derivatives at September 30, 2025 |
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Commodity contracts |
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Fair asset and liability value of derivative instruments |
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$ |
7,561 |
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$ |
— |
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$ |
7,561 |
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Commodity contracts |
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Long-term derivative assets included in the deferred charges and other assets, net |
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755 |
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— |
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755 |
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Commodity contract assets September 30, 2025 |
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$ |
8,316 |
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$ |
— |
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$ |
8,316 |
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Liability Derivatives at September 30, 2025 |
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Commodity contracts |
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Fair asset and liability value of derivative instruments |
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$ |
(8,169 |
) |
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$ |
— |
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$ |
(8,169 |
) |
Commodity contracts |
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Long-term derivative assets included in the deferred charges and other assets, net |
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(653 |
) |
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— |
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(653 |
) |
Commodity contract liabilities September 30, 2025 |
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$ |
(8,822 |
) |
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$ |
— |
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$ |
(8,822 |
) |
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| Company's Commodity Derivatives Assets (Liabilities) Offset by Counterparty |
The Company’s commodity derivative assets (liabilities) offset by counterparty and subject to an enforceable master netting arrangement are listed on the following table.
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(In thousands) |
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Gross Amounts Not Offset in the
Statement of Financial Position |
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Offsetting of Financial Assets (Liabilities)
and Derivative Assets (Liabilities) |
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Gross
Assets
Recognized |
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Gross
Liabilities
Offset in the
Statement
of Financial
Position |
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Net Assets
(Liabilities)
Presented in the
Statement
of Financial
Position |
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Financial
Instruments |
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Cash
Collateral
Received |
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Net
Amount |
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Fair asset value of derivative instruments |
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$ |
17,892 |
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$ |
(7,073 |
) |
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$ |
10,819 |
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$ |
— |
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$ |
— |
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$ |
10,819 |
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Long-term derivative assets included in deferred charges and other assets, net |
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695 |
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(536 |
) |
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159 |
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— |
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— |
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159 |
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Long-term derivative liabilities included in other long-term liabilities, net |
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24 |
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(28 |
) |
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(4 |
) |
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(4 |
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Total at June 30, 2026 |
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$ |
18,611 |
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$ |
(7,637 |
) |
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$ |
10,974 |
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$ |
— |
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$ |
— |
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$ |
10,974 |
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Fair asset value of derivative instruments |
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$ |
3,630 |
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$ |
(2,840 |
) |
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$ |
790 |
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$ |
— |
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$ |
— |
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$ |
790 |
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Long-term derivative assets included in deferred charges and other assets, net |
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755 |
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(653 |
) |
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102 |
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— |
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— |
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102 |
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Fair liability value of derivative instruments |
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3,931 |
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(5,329 |
) |
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(1,398 |
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— |
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— |
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(1,398 |
) |
Total at September 30, 2025 |
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$ |
8,316 |
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$ |
(8,822 |
) |
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$ |
(506 |
) |
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$ |
— |
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$ |
— |
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$ |
(506 |
) |
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| Company's Effect on Derivative Instruments on the Statement of Operations |
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(In thousands) |
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The Effect of Derivative Instruments on the Statement of Operations |
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Amount of (Gain) or Loss Recognized |
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Amount of (Gain) or Loss Recognized |
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Derivatives Not Designated as Hedging Instruments Under FASB ASC 815-10 |
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Location of (Gain) or Loss
Recognized in Income on Derivative |
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Three Months Ended June 30,
2026 |
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Three Months Ended June 30,
2025 |
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Nine Months Ended June 30,
2026 |
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Nine Months Ended June 30,
2025 |
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Commodity contracts |
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Cost of product (a) |
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$ |
(4,425 |
) |
$ |
2,248 |
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$ |
(1,388 |
) |
$ |
16,002 |
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Commodity contracts |
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Cost of installations and service (a) |
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$ |
(474 |
) |
$ |
40 |
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$ |
(581 |
) |
$ |
171 |
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Commodity contracts |
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Delivery and branch expenses (a) |
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$ |
(478 |
) |
$ |
234 |
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$ |
(2,558 |
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$ |
890 |
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Commodity contracts |
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(Increase) / decrease in the fair
value of derivative instruments (b) |
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$ |
8,019 |
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$ |
(603 |
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$ |
(13,398 |
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$ |
(11,962 |
) |
(a)Represents realized closed positions and includes the cost of options as they expire. (b)Represents the change in value of unrealized open positions and expired options.
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