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COMBINED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (Condensed) (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Net sales $ 647.2 $ 392.8 $ 1,775.5 $ 1,340.5
Cost of products sold 400.9 216.7 1,059.5 717.6
Gross profit 246.3 176.1 716.0 622.9
Selling, general and administrative expense 127.6 111.9 373.5 315.3
Advertising and sales promotion expense 34.3 22.9 99.9 81.1
Research and development expense 9.5 5.2 23.7 15.9
Amortization of intangible assets 14.4 2.8 30.1 8.4
Interest expense 51.9 17.7 177.3 47.6
Total Other items, net (0.8) (11.3) (13.9) (9.1)
(Loss)/earnings before income taxes 9.4 31.5 25.4 168.3
Income tax provision 0.2 7.7 7.7 76.3
Earnings from continuing operations 9.2 23.8 17.7 92.0
Net loss from discontinued operations, net of income tax expense of $0.4 and a benefit of $2.5 for the quarter and nine months ended June 30, 2019, respectively. (1.8) 0.0 (12.8) 0.0
Net earnings 7.4 23.8 4.9 92.0
Mandatory convertible preferred stock dividends (4.4) 0.0 (7.7) 0.0
Net earnings/(loss) attributable to common shareholders $ 3.0 $ 23.8 $ (2.8) $ 92.0
Basic net (loss)/earnings per common share- continuing operations (in dollars per share) $ 0.07 $ 0.40 $ 0.15 $ 1.54
Basic net loss per common share- discontinued operations (in dollars per share) (0.03) 0 (0.19) 0
Basic net (loss)/earnings per common share (in dollars per share) 0.04 0.40 (0.04) 1.54
Diluted net (loss)/earnings per common share- continuing operations (in dollars per share) 0.07 0.39 0.15 1.50
Diluted net loss per common share- discontinued operations (in dollars per share) (0.03) 0 (0.19) 0
Diluted net (loss)/earnings per common share (in dollars per share) $ 0.04 $ 0.39 $ (0.04) $ 1.50
Weighted average shares of common stock - Basic (shares) 69.6 59.7 65.5 59.9
Weighted average shares of common stock - Diluted (shares) 70.6 61.4 66.5 61.4
Statements of Comprehensive Income:        
Net earnings $ 7.4 $ 23.8 $ 4.9 $ 92.0
Other comprehensive (loss)/income, net of tax (benefit)/expense        
Foreign currency translation adjustments (12.3) (31.5) 4.3 (14.9)
Pension activity, net of tax of $0.2 and $0.8, for the quarter and nine months ended June 30, 2019, respectively, and $0.4 and $1.2 for the quarter and nine months ended June 30, 2018, respectively. 0.9 3.0 3.0 4.8
Deferred (loss)/gain on hedging activity, net of tax of ($1.9) and ($3.7), for the quarter and nine months ended June 30, 2019, respectively, and $2.1 and $4.7 for the quarter and nine months ended June 30, 2018, respectively. (6.4) 6.7 (10.8) 13.0
Total comprehensive (loss)/income $ (10.4) $ 2.0 $ 1.4 $ 94.9