v3.26.1
Debt And Derivatives
 9 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Debt And Derivatives DEBT AND DERIVATIVES
Table 7.1: Details of Debt
June 30, 2026September 30, 2025
(in thousands)
Term Loan A (TLA)$819,375 $853,125 
Term Loan B (TLB)814,173 493,750 
Revolver20,000 — 
Total debt principal1,653,548 1,346,875 
Less: Unamortized debt-issuance costs and discounts(16,613)(12,602)
Total debt1,636,935 1,334,273 
Less: Current portion of long-term debt(71,599)(52,680)
Long-term debt$1,565,336 $1,281,593 
On May 27, 2026, we amended our existing credit agreement (the "Amendment") with J.P. Morgan Chase Bank, N.A. The Amendment increased our TLB by $325 million.
Our credit agreements require us to comply with a number of covenants, including leverage and interest coverage ratios. At June 30, 2026, we are in compliance with all covenants. We do not believe that the covenants represent a significant restriction on our ability to successfully operate the business or to pay dividends.
The following table sets forth future minimum principal payments due under our debt obligations as of June 30, 2026 for the remainder of fiscal year 2026 through fiscal year 2031:
Table 7.2: Details of Future Minimum Principal Payments Due
Amount Due
(in thousands)
July 1, 2026 through September 30, 2026$18,952 
Year ended September 30, 202775,809 
Year ended September 30, 202881,434 
Year ended September 30, 2029690,184 
Year ended September 30, 20308,309 
Years ended thereafter778,860 
Total payments$1,653,548 
Interest Rate Derivative Instruments
Both our TLA and TLB interest payments are comprised of an applicable margin rate and a floating rate, the latter being based on SOFR. We utilize interest rate swaps that are designed to reduce our risk from changes in floating rates, which we have designated as cash flow hedges. Effective June 1, 2026, we entered into new interest rate swap agreements to reduce interest rate risks in both our TLA and TLB. The following table presents our active interest rate swaps:
Table 7.3: Interest Rate Derivative Instruments
As of June 30, 2026
Debt Principal HedgedNotional AmountFixed Interest RateExpiry
(in thousands)
Term Loan B$75,000 3.72 %September 2026
Term Loan B$75,000 3.62 %September 2027
Term Loan A$150,000 3.14 %September 2027
Term Loan A$200,000 3.47 %September 2028
Term Loan B$75,000 4.04 %September 2028
Term Loan A$50,000 4.05 %May 2029
Term Loan B$50,000 4.06 %September 2029
The fixed interest rate on the table above identifies the payment rate to our counterparties in lieu of the floating rate.
The balance of the debt pays interest based upon the Secured Overnight Financing Rate (SOFR). At June 30, 2026, our effective interest rate, including the original issuance costs and discount rate, was 5.6%.
At June 30, 2026, we recorded an asset of $3.9 million and a liability of $0.8 million to reflect the fair value of our interest rate swap agreements, compared to an asset of $5.5 million and a liability of $1.7 million at September 30, 2025. The assets and liabilities are recorded as "other assets" and "other liabilities," respectively, within our consolidated balance sheets. As these instruments are effective cash flow hedges, gains and losses based upon interest rate fluctuations are recorded within "accumulated other comprehensive loss" on our consolidated financial statements.
Debt And Derivatives DEBT AND DERIVATIVES
Table 7.1: Details of Debt
June 30, 2026September 30, 2025
(in thousands)
Term Loan A (TLA)$819,375 $853,125 
Term Loan B (TLB)814,173 493,750 
Revolver20,000 — 
Total debt principal1,653,548 1,346,875 
Less: Unamortized debt-issuance costs and discounts(16,613)(12,602)
Total debt1,636,935 1,334,273 
Less: Current portion of long-term debt(71,599)(52,680)
Long-term debt$1,565,336 $1,281,593 
On May 27, 2026, we amended our existing credit agreement (the "Amendment") with J.P. Morgan Chase Bank, N.A. The Amendment increased our TLB by $325 million.
Our credit agreements require us to comply with a number of covenants, including leverage and interest coverage ratios. At June 30, 2026, we are in compliance with all covenants. We do not believe that the covenants represent a significant restriction on our ability to successfully operate the business or to pay dividends.
The following table sets forth future minimum principal payments due under our debt obligations as of June 30, 2026 for the remainder of fiscal year 2026 through fiscal year 2031:
Table 7.2: Details of Future Minimum Principal Payments Due
Amount Due
(in thousands)
July 1, 2026 through September 30, 2026$18,952 
Year ended September 30, 202775,809 
Year ended September 30, 202881,434 
Year ended September 30, 2029690,184 
Year ended September 30, 20308,309 
Years ended thereafter778,860 
Total payments$1,653,548 
Interest Rate Derivative Instruments
Both our TLA and TLB interest payments are comprised of an applicable margin rate and a floating rate, the latter being based on SOFR. We utilize interest rate swaps that are designed to reduce our risk from changes in floating rates, which we have designated as cash flow hedges. Effective June 1, 2026, we entered into new interest rate swap agreements to reduce interest rate risks in both our TLA and TLB. The following table presents our active interest rate swaps:
Table 7.3: Interest Rate Derivative Instruments
As of June 30, 2026
Debt Principal HedgedNotional AmountFixed Interest RateExpiry
(in thousands)
Term Loan B$75,000 3.72 %September 2026
Term Loan B$75,000 3.62 %September 2027
Term Loan A$150,000 3.14 %September 2027
Term Loan A$200,000 3.47 %September 2028
Term Loan B$75,000 4.04 %September 2028
Term Loan A$50,000 4.05 %May 2029
Term Loan B$50,000 4.06 %September 2029
The fixed interest rate on the table above identifies the payment rate to our counterparties in lieu of the floating rate.
The balance of the debt pays interest based upon the Secured Overnight Financing Rate (SOFR). At June 30, 2026, our effective interest rate, including the original issuance costs and discount rate, was 5.6%.
At June 30, 2026, we recorded an asset of $3.9 million and a liability of $0.8 million to reflect the fair value of our interest rate swap agreements, compared to an asset of $5.5 million and a liability of $1.7 million at September 30, 2025. The assets and liabilities are recorded as "other assets" and "other liabilities," respectively, within our consolidated balance sheets. As these instruments are effective cash flow hedges, gains and losses based upon interest rate fluctuations are recorded within "accumulated other comprehensive loss" on our consolidated financial statements.