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Financial Instruments and Risk Management (Tables) | 9 Months Ended
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Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) | The following table provides the Company's estimated fair values as of June 30, 2019 and September 30, 2018, and the amounts of gains and losses on derivative instruments classified as cash flow hedges for the quarter and nine months ended June 30, 2019 and 2018, respectively:
|  | At June 30, 2019 |  | For the Quarter Ended June 30, 2019 |  | For the Nine Months Ended June 30, 2019
Derivatives designated as Cash Flow Hedging Relationships |  | Estimated Fair Value Asset/(Liability) (1) |  | Loss Recognized in OCI (2) |  | Gain Reclassified From OCI into Income (3) (4) |  | Gain/(Loss) Recognized in OCI (2) |  | Gain Reclassified From OCI into Income (3) (4)
Foreign currency contracts |  | $ | 1.3 |  |  | $ | (0.4 | ) |  | $ | 1.9 |  |  | $ | 3.7 |  |  | $ | 6.7 |
Interest rate swaps (2017 and 2018) |  | (3.9 | ) |  | (4.1 | ) |  | 0.2 |  |  | (11.0 | ) |  | 0.4 |
Zinc contracts |  | (0.7 | ) |  | (0.9 | ) |  | — |  |  | (0.7 | ) |  | — |
Total |  | $ | (3.3 | ) |  | $ | (5.4 | ) |  | $ | 2.1 |  |  | $ | (8.0 | ) |  | $ | 7.1 |
|  | At September 30, 2018 |  | For the Quarter Ended June 30, 2018 |  | For the Nine Months Ended June 30, 2018
Derivatives designated as Cash Flow Hedging Relationships |  | Estimated Fair Value Asset (1) |  | Gain Recognized in OCI (2) |  | Loss Reclassified From OCI into Income (4) (5) |  | Gain Recognized in OCI (2) |  | Loss Reclassified From OCI into Income (4) (5)
Foreign currency contracts |  | $ | 4.3 |  |  | $ | 5.6 |  |  | $ | (0.8 | ) |  | $ | 4.8 |  |  | $ | (5.1 | )
Interest rate swaps (2017 and 2018) |  | 7.7 |  |  | 2.2 |  |  | (0.2 | ) |  | 6.7 |  |  | (1.0 | )
Total |  | $ | 12.0 |  |  | $ | 7.8 |  |  | $ | (1.0 | ) |  | $ | 11.5 |  |  | $ | (6.1 | )
(1) All derivative assets are presented in Other current assets or Other assets. All derivative liabilities are presented in Other current liabilities or Other liabilities. (2) OCI is defined as other comprehensive income. (3) Gain reclassified to Income was recorded as follows: Foreign currency contracts in Cost of products sold, interest rate contracts in Interest expense, and commodity contracts in Cost of products sold. (4) Each of these hedging relationships has derivative instruments with a high correlation to the underlying exposure being hedged and has been deemed highly effective in offsetting the underlying risk. (5) Loss reclassified to Income was recorded as follows: Foreign currency contracts in Other items, net, interest rate contracts in Interest expense, and commodity contracts in Cost of products sold.
Derivative Instruments, Gain (Loss) | The following table provides estimated fair values as of June 30, 2019 and September 30, 2018 and the gains and losses on derivative instruments not classified as cash flow hedges for the quarter and nine months ended June 30, 2019 and 2018, respectively:
|  | At June 30, 2019 |  | For the Quarter Ended June 30, 2019 |  | For the Nine Months Ended June 30, 2019
|  | Estimated Fair Value Liability (1) |  | Loss Recognized in Income (2) (3) |  | Loss Recognized in Income (2) (3)
Foreign currency contracts |  | $ | (1.0 | ) |  | $ | (1.3 | ) |  | $ | (0.2 | )
|  | At September 30, 2018 |  | For the Quarter Ended June 30, 2018 |  | For the Nine Months Ended June 30, 2018
|  | Estimated Fair Value Liability (1) |  | Gain Recognized in Income (4) |  | Gain Recognized in Income (4)
Foreign currency contracts |  | $ | (0.1 | ) |  | $ | 8.7 |  |  | $ | 10.0 |
(1) All derivative liabilities are presented in Other current liabilities or Other liabilities. (2) Loss recognized in Income was recorded as foreign currency in Cost of products sold. (3) Includes a $0.9 loss on a hedge contract on the Euro proceeds anticipated from the Varta divestiture. (4) Gain recognized in Income was recorded as foreign currency in Other items, net.
Offsetting Liabilities |
Offsetting of derivative assets
|  |  |  | At June 30, 2019 |  | At September 30, 2018
Description |  | Balance Sheet location |  | Gross amounts of recognized assets |  | Gross amounts offset in the Balance Sheet |  | Net amounts of assets presented in the Balance Sheet |  | Gross amounts of recognized assets |  | Gross amounts offset in the Balance Sheet |  | Net amounts of assets presented in the Balance Sheet
Foreign Currency Contracts |  | Other Current Assets, Other Assets |  | $ | 2.3 |  |  | $ | (0.4 | ) |  | $ | 1.9 |  |  | $ | 4.7 |  |  | $ | (0.2 | ) |  | $ | 4.5 |
Offsetting of derivative liabilities
|  |  |  | At June 30, 2019 |  | At September 30, 2018
Description |  | Balance Sheet location |  | Gross amounts of recognized liabilities |  | Gross amounts offset in the Balance Sheet |  | Net amounts of liabilities presented in the Balance Sheet |  | Gross amounts of recognized liabilities |  | Gross amounts offset in the Balance Sheet |  | Net amounts of liabilities presented in the Balance Sheet
Foreign Currency Contracts |  | Other Current Liabilities, Other Liabilities |  | $ | (1.6 | ) |  | $ | — |  |  | $ | (1.6 | ) |  | $ | (0.3 | ) |  | $ | — |  |  | $ | (0.3 | )
Offsetting Assets |
Offsetting of derivative assets
|  |  |  | At June 30, 2019 |  | At September 30, 2018
Description |  | Balance Sheet location |  | Gross amounts of recognized assets |  | Gross amounts offset in the Balance Sheet |  | Net amounts of assets presented in the Balance Sheet |  | Gross amounts of recognized assets |  | Gross amounts offset in the Balance Sheet |  | Net amounts of assets presented in the Balance Sheet
Foreign Currency Contracts |  | Other Current Assets, Other Assets |  | $ | 2.3 |  |  | $ | (0.4 | ) |  | $ | 1.9 |  |  | $ | 4.7 |  |  | $ | (0.2 | ) |  | $ | 4.5 |
Offsetting of derivative liabilities
|  |  |  | At June 30, 2019 |  | At September 30, 2018
Description |  | Balance Sheet location |  | Gross amounts of recognized liabilities |  | Gross amounts offset in the Balance Sheet |  | Net amounts of liabilities presented in the Balance Sheet |  | Gross amounts of recognized liabilities |  | Gross amounts offset in the Balance Sheet |  | Net amounts of liabilities presented in the Balance Sheet
Foreign Currency Contracts |  | Other Current Liabilities, Other Liabilities |  | $ | (1.6 | ) |  | $ | — |  |  | $ | (1.6 | ) |  | $ | (0.3 | ) |  | $ | — |  |  | $ | (0.3 | )
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table sets forth the Company's financial assets and liabilities, which are carried at fair value, as of June 30, 2019 and September 30, 2018 that are measured on a recurring basis during the period, segregated by level within the fair value hierarchy:
| Level 2
Assets/(Liabilities) at estimated fair value: | June 30, 2019 |  | September 30, 2018
Deferred compensation | $ | (27.4 | ) |  | $ | (29.0 | )
Derivatives - Foreign Currency contracts | 1.3 |  |  | 4.3 |
Derivatives - Foreign Currency contracts (non-hedge) | (1.0 | ) |  | (0.1 | )
Derivatives - 2017 and 2018 Interest Rate swaps | (3.9 | ) |  | 7.7 |
Derivatives - Zinc contracts | (0.7 | ) |  | — |
Exit lease liability | (0.3 | ) |  | (0.6 | )
Net Liabilities at estimated fair value | $ | (32.0 | ) |  | $ | (17.7 | )

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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