Receivables From Customers, Net and Notes Receivable, Net (Notes)

9 Months Ended

Jun. 30, 2018

Receivables from customers and notes receivable, net [Abstract]

Financing Receivables [Text Block]

Allowance for Doubtful Accounts

The allowance for doubtful accounts related to receivables from customers was $9.9 million and $7.6 million as of June 30, 2018 and September 30, 2017, respectively. The allowance for doubtful accounts related to deposits with and receivables from broker-dealers, clearing organizations, and counterparties was $48.1 million and $47.0 million as of June 30, 2018 and September 30, 2017, respectively.

During the three months ended June 30, 2018, the Company recorded bad debt expense of $1.6 million. The bad debt expense was primarily related to agricultural OTC customer account deficits in the Company’s Commercial Hedging segment partially offset by the recovery of a precious metals customer trading account deficit in the Company’s Physical Commodities segment. During the three months ended June 30, 2017, the Company recorded bad debt expense of $0.1 million.

During the nine months ended June 30, 2018, the Company recorded bad debt expense of $2.9 million. The provision for bad debts was primarily related an additional provision of $1.0 million related to a bad debt in the physical coal business for amounts due to the Company from a coal supplier for demurrage and other charges related to contracts with delivery dates subsequent to September 30, 2017 and agricultural OTC customer account deficits in the Company’s Commercial Hedging segment. During the nine months ended June 30, 2017, the Company recorded bad debt expense of $3.9 million, primarily related to $3.8 million of LME Metals customer deficits in the Company’s Commercial Hedging Segment.