Derivative Financial Instruments |
12 Months Ended |
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Sep. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivative Financial Instruments In connection with the acquisition of Singer Valve in 2017, we loaned funds to one of our Canadian subsidiaries. Although this intercompany loan has no direct effect on our consolidated financial statements, it creates exposure to currency risk for the Canadian subsidiary. To reduce this exposure, we entered into a United States dollar-Canadian dollar swap contract with the Canadian subsidiary and an offsetting Canadian dollar-United States dollar swap with a domestic bank, without designating these swap contracts as a hedge. As a result, the changes in the fair value of these contracts have been reported in earnings. As of September 30, 2021, we had a $1.1 million liability in Other current liabilities in our consolidated balance sheets related to such a hedge. These currency swap contracts expired in February 2022. As a result, we did not have any liabilities related to currency swap contracts as of September 30, 2022. |