Physical Commodities Inventory (Notes)

12 Months Ended

Sep. 30, 2013

Physical Commodities Inventory [Abstract]

Physical Commodities Inventory

The carrying values of the Company’s inventory as of September 30, 2013 and 2012 are shown below.



(in millions)	September 30, 2013		September 30, 2012
Commodities in process	$	—	$	13.6
Finished commodities	59.0		118.0
Physical commodities inventory	$	59.0	$	131.6

As a result of declining market prices for some commodities towards the end of the fiscal year, the Company has recorded LCM adjustments for physical commodities inventory of $0.9 million and $0.4 million as of September 30, 2013 and 2012, respectively. The adjustments are included in ‘cost of sales of physical commodities’ in the consolidated income statements.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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