Long-term Debt and Line of Credit (Tables)

9 Months Ended

Jun. 30, 2022

Long-term Debt and Line of Credit [Abstract]

Long-term Debt and Line of Credit

Long-term debt consisted of the following at:

($ in thousands)	June 30, 2022			September 30, 2021
Term note payable to Truist Bank, secured and bearing interest at 4.5% at June 30, 2022 and 2.75% at September 30, 2021. The note requires quarterly principal payments, maturing with a full repayment on July 22, 2025	$	293,958		$	105,875
Revolving note payable for an amount up to $50.0 million to Truist Bank, secured and bearing interest at 4.5% at June 30, 2022. The note requires full repayment on July 22, 2025		40,000			-
Note payable to commercial vehicle lenders secured by the value of the vehicles bearing interest at rates ranging from 0.0% to 8.9% per annum. The notes require monthly installment payments of principal and interest ranging from $100 to $5,600 through July 2028		3,853			3,248
Note payable to Tom George Yacht Sales, Inc., unsecured and bearing interest at 5.5% per annum. The note requires quarterly interest payments, with a balloon payment of principal due on December 1, 2023		2,056			2,056
Note payable to Norfolk Marine Company, unsecured and bearing interest at 4.0% per annum. The note requires quarterly interest payments, with a balloon payment of principal due on December 1, 2024		1,126			-
Note payable to Central Marine Services, Inc., unsecured and bearing interest at 5.5% per annum. The note was repaid in full		-			2,164
Note payable to Ocean Blue Yacht Sales, unsecured and bearing interest at 5.0% per annum. The note was repaid in full		-			1,920
Note payable to Slalom Shop, LLC, unsecured and bearing interest at 5.0% per annum. The note was repaid in full		-			1,271
Total debt outstanding		340,993			116,534
Less current portion (net of debt issuance costs)		(19,450	)		(11,366	)
Less unamortized portion of debt issuance costs		(5,194	)		(2,094	)
Long-term debt, net of current portion of unamortized debt issuance costs	$	316,349		$	103,074