v3.20.4

Derivative Financial Instruments and Hedging (Tables) | 3 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional amounts of derivatives held |
|  | December 31, 2020 |  | September 30, 2020
Commodity contracts |  | $ | 36.9 |  |  | $ | 24.7 |
Energy contracts |  | 76.0 |  |  | 87.1 |
Foreign exchange contracts - Forward contracts |  | 39.0 |  |  | 28.9 |
Interest rate swaps |  | 621.3 |  |  | 621.7 |
Interest rate swaps - Rate-lock swaps |  | 1,666.0 |  |  | 1,666.0 |
Interest rate swaps - Options |  | 433.3 |  |  | 433.3 |
Derivative Instruments in Condensed Consolidated Balance Sheets |
|  | Balance Sheet Location |  | December 31, 2020 |  | September 30, 2020 |  |  |  |
Asset Derivatives: |  |  |  |  |  |  |  |  |  |
Commodity contracts |  | Prepaid expenses and other current assets |  | $ | 6.6 |  |  | $ | 5.0 |  |  |  |  |
Energy contracts |  | Prepaid expenses and other current assets |  | 1.6 |  |  | 1.8 |  |  |  |  |
Commodity contracts |  | Other assets |  | 5.9 |  |  | 0.1 |  |  |  |  |
Energy contracts |  | Other assets |  | 1.7 |  |  | 0.9 |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other current assets |  | — |  |  | 0.1 |  |  |  |  |
Interest rate swaps |  | Prepaid expenses and other current assets |  | 2.1 |  |  | 6.8 |  |  |  |  |
Interest rate swaps |  | Other assets |  | 7.7 |  |  | — |  |  |  |  |
|  |  |  | $ | 25.6 |  |  | $ | 14.7 |  |  |  |  |
Liability Derivatives: |  |  |  |  |  |  |  |  |  |
Commodity contracts |  | Other current liabilities |  | $ | 0.9 |  |  | $ | 1.4 |  |  |  |  |
Energy contracts |  | Other current liabilities |  | 3.8 |  |  | 10.1 |  |  |  |  |
Energy contracts |  | Other liabilities |  | 0.9 |  |  | 3.9 |  |  |  |  |
Foreign exchange contracts |  | Other current liabilities |  | 1.4 |  |  | — |  |  |  |  |
Interest rate swaps |  | Other current liabilities |  | 164.1 |  |  | 176.4 |  |  |  |  |
Interest rate swaps |  | Other liabilities |  | 322.3 |  |  | 351.3 |  |  |  |  |
|  |  |  | $ | 493.4 |  |  | $ | 543.1 |  |  |  |  |
Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Other Comprehensive Income | The following tables present the effects of the Company’s derivative instruments on the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income for the three months ended December 31, 2020 and 2019.
Derivatives Not Designated as Hedging Instruments |  | Statement of Operations Location |  | (Gain) Loss Recognized in Statement of Operations
|  | 2020 |  | 2019
Commodity contracts |  | Cost of goods sold |  | $ | (7.4) |  |  | $ | (1.9) |
Energy contracts |  | Cost of goods sold |  | (8.0) |  |  | (2.5) |
Foreign exchange contracts |  | Selling, general and administrative expenses |  | 1.5 |  |  | — |
Interest rate swaps |  | Interest expense, net |  | 0.5 |  |  | — |
Interest rate swaps |  | Income on swaps, net |  | (41.6) |  |  | (61.4) |
Derivatives Designated as Hedging Instruments |  | (Gain) Loss Recognized in OCI including NCI |  | Loss Reclassified from Accumulated OCI including NCI into Earnings (a) |  | Statement of Operations Location
| 2020 |  | 2019 |  | 2020 |  | 2019 |
Interest rate swaps |  | $ | — |  |  | $ | (1.3) |  |  | $ | 0.5 |  |  | $ | 7.2 |  |  | Interest expense, net
Cross-currency swaps |  | — |  |  | 34.6 |  |  | — |  |  | — |  |  | Income on swaps, net
(a)For the three months ended December 31, 2020, this amount includes the amortization of previously unrealized losses on BellRing’s interest rate swaps that were de-designated as hedging instruments as of April 1, 2020. For the three months ended December 31, 2019, this amount includes the amortization of previously unrealized losses on interest rate swaps that were de-designated as hedging instruments in the first quarter of fiscal 2020.
Net Hedging Losses (Gains) on Interest Rate Swaps | The following table presents the components of the Company’s net hedging losses (gains) on interest rate swaps, which are included in “Interest expense, net” and “Income on swaps, net” in the Condensed Consolidated Statements of Operations.
Three Months Ended December 31, |  | Statement of Operations Location |  | Mark-to-Market (Gain), net (a) |  | Cash Settlements Paid, Net (b) |  | Net Loss Reclassified from Accumulated OCI including NCI (c)
|  | Interest expense, net |  | $ | (1.2) |  |  | $ | 1.2 |  |  | $ | 0.5 |
|  | Income on swaps, net |  | (43.1) |  |  | 1.5 |  |  | — |
2020 |  | Total |  | $ | (44.3) |  |  | $ | 2.7 |  |  | $ | 0.5 |
|  | Interest expense, net |  | $ | — |  |  | $ | — |  |  | $ | 7.2 |
|  | Income on swaps, net |  | (80.5) |  |  | 19.1 |  |  | — |
2019 |  | Total |  | $ | (80.5) |  |  | $ | 19.1 |  |  | $ | 7.2 |
(a)Includes non-cash adjustments related to interest rate swaps that were not designated as hedging instruments. (b)Includes cash settlements recognized in earnings related to interest rate swaps that were not designated as hedging instruments. (c)Includes the amortization of previously unrealized losses on BellRing’s interest rate swaps over the term of the related debt that were de-designated as hedging instruments, as well as the reclassification of previously unrealized losses on interest rate swaps that were de-designated as hedging instruments.

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
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