Debt

9 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

4. DEBT

On April 28, 2022 we entered into the Third Amended and Restated Credit and Security Agreement with Wells Fargo Bank, N.A. ("Wells Fargo") (the "Amended Credit Agreement"), which, among other things, increased the maximum borrowing amount under our revolving credit facility from $125,000 to $150,000. The Amended Credit Agreement also removed the aggregate cap on Company investments in certain securities and the cap on the Company’s ability to make stock repurchases, in each case subject to the satisfaction of certain liquidity requirements. The Amended Credit Agreement, which matures on September 30, 2026, contains customary affirmative, negative and financial covenants as disclosed in Item 7 of our Annual Report on Form 10-K for the fiscal year ended September 30, 2021. As of June 30, 2022, the Company was in compliance with the financial covenants under the Amended Credit Agreement.

At June 30, 2022 and September 30, 2021, we had $96,874 and $40,339, respectively, in borrowings outstanding under our revolving credit facility with Wells Fargo, and $1 and $63, respectively, of long-term debt related to loans on capital expenditures. At June 30, 2022, we also had $4,077 in outstanding letters of credit and total availability of $49,049 under our revolving credit facility without triggering the financial covenants under the Amended Credit Facility.