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Retirement Plans
 9 Months Ended
Jun. 30, 2017
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Retirement Plans
Note 7. Retirement Plans
During March 2017, the Financial Accounting Standards Board issued Accounting Standards Update No. 2017-07 (“ASU 2017-07”). This amendment to GAAP will require us to exclude the components of net periodic benefit cost other than service cost from operating income on October 1, 2018, with early adoption permitted. We plan to adopt this amendment on October 1, 2017, and this adoption will require reclassification of 2017 and 2016 results. The components of net periodic benefit cost for our pension plans and the effects this adoption will have on operating income are presented below.
 
Three months ended
 
Nine months ended
 
June 30,
 
June 30,
 
2017
 
2016
 
2017
 
2016
 
(in millions)
Service cost
$
0.5

 
$
0.5

 
$
1.5

 
$
1.3

Components of net periodic benefit cost that will be excluded from operating income upon adoption of ASU 2017-07:
 
 
 
 
 
 
 
Interest cost
3.6

 
5.0

 
10.8

 
15.1

Expected return on plan assets
(4.2
)
 
(4.9
)
 
(12.7
)
 
(15.1
)
Amortization of actuarial net loss
1.0

 
0.7

 
3.0

 
2.3

Pension settlement
—

 
16.6

 
—

 
16.6

 
0.4

 
17.4

 
1.1

 
18.9

Net periodic benefit cost
$
0.9

 
$
17.9

 
$
2.6

 
$
20.2


The amortization of actuarial losses, net of tax, is recorded as a component of other comprehensive loss.
During the 2016 third quarter, our U.S. pension plan (“Plan”) completed a pension obligation settlement program targeting vested, terminated participants not yet receiving benefits. Approximately 75% of eligible participants accepted settlement offers. The Plan distributed assets totaling $58.5 million and remeasured its liabilities in June 2016. We incurred a non-cash charge of $16.6 million as a result of the program, which had an immaterial impact on the Plan’s funded ratio.