XML 50 R37.htm IDEA: XBRL DOCUMENT v3.22.2.2
Retirement Plans (Tables)
12 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Cost
The components of net periodic (benefit) cost for our Pension Plan are presented below.

 202220212020
 (in millions)
Service cost$1.3 $1.5 $1.5 
Components of net periodic cost (benefit) excluded from operating income:
Interest cost9.8 9.9 11.2 
Expected return on plan assets(15.4)(15.7)(16.9)
Amortization of actuarial net loss1.7 2.5 2.8 
Other— — (0.1)
Pension benefit other than service(3.9)(3.3)(3.0)
Net periodic benefit$(2.6)$(1.8)$(1.5)
Schedule of Accumulated and Projected Benefit Obligations P
Schedule Of Defined Benefit Plans Disclosures
Amounts recognized for the Pension Plan are presented below.

September 30,
 20222021
 (in millions)
Projected benefit obligations:
Beginning of year$336.8 $359.5 
Service cost1.3 1.5 
Interest cost9.8 9.9 
Actuarial gain(74.0)(10.8)
Benefits paid(22.7)(23.3)
Accumulated benefit obligations at end of year$251.2 $336.8 
Plan assets:
Beginning of year$353.5 $360.4 
Actual return on plan assets(79.0)16.4 
Benefits paid(22.7)(23.3)
Fair value of plan assets at end of year$251.8 $353.5 
Accrued benefit cost at end of year:
Funded status$0.6 $16.8 
Recognized on balance sheet:
Other noncurrent assets$0.6 $16.8 
Recognized in accumulated other comprehensive income (loss), before tax:
Net actuarial loss78.7 59.9 
$78.7 $59.9 
Schedule of Pension and Other Postretirement Benefits Activity in Accumulated Other Comprehensive Income (Loss) [Table Text Block] lan activity in accumulated other comprehensive loss, before tax, in 2022 is presented below, in millions.
Balance at beginning of year$59.9 
Actuarial loss20.5 
Prior year actuarial loss amortization to net periodic cost(1.7)
Balance at end of year$78.7 
Schedule of Assumptions Used
A summary of key assumptions for the valuations of our Pension Plan is as follows:
September 30,
 202220212020
Weighted average used to determine benefit obligations:
Discount rate
5.79 %3.01 %2.84 %
Weighted average used to determine net periodic cost:
Discount rate
3.01 %2.84 %3.26 %
Expected return on plan assets
4.50 %4.50 %5.00 %
Schedule of Strategic Allocation of Plan Assets [Table Text Block] trategic asset allocations, tactical range at September 30, 2022 and actual asset allocations are as follows:
Strategic asset allocationActual asset allocations at
 September 30,
 Tactical range202220212020
Fixed income investments70 %65 %-70 %70 %70 %78 %
Equity investments30 25 %-30 %29 29 21 
Cash— %-%
100 %100 %100 %100 %
Schedule of Allocation of Plan Assets
The assets of the Plan by level within the fair value hierarchy are as follows:

September 30, 2022
Level 1Level 2Total
 (in millions)
Fixed income$125.2 $50.1 $175.3 
Equity:
Large cap index funds37.2 — 37.2 
International stocks:
International funds37.4 — 37.4 
      Total equity74.6 — 74.6 
Cash and cash equivalents1.9 — 1.9 
$201.7 $50.1 $251.8 

September 30, 2021
Level 1Level 2Total
 (in millions)
Fixed income$176.7 $70.3 $247.0 
Equity:
Large cap index funds52.1 — 52.1 
International stocks:
International funds52.5 — 52.5 
       Total equity104.6 — 104.6 
Cash and cash equivalents1.9 — 1.9 
$283.2 $70.3 $353.5 
Schedule of Expected Benefit Payments
Our estimated future pension benefit payments are presented below (in millions):

2023$23.3 
202423.1 
202522.8 
202622.4 
202721.9 
2028-2032$100.7