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EQUITY
 6 Months Ended
Apr. 03, 2021
Equity [Abstract]  
EQUITY EQUITY
The following tables provide a summary of the changes in total equity, equity attributable to controlling interest, and equity attributable to noncontrolling interests for each of the periods indicated:
 Common Shares and Capital in
Excess of Stated Value		Retained
Earnings		Treasury
Shares		Accumulated Other
Comprehensive Loss		Total Equity -
Controlling Interest		Noncontrolling
Interest		Total
Equity
Balance at September 30, 2020$482.5 $1,235.6 $(921.8)$(99.1)$697.2 $5.7 $702.9 
Net income (loss)— 24.4 — — 24.4 0.8 25.2 
Other comprehensive income (loss)— — — 15.6 15.6 — 15.6 
Share-based compensation8.2 — — — 8.2 — 8.2 
Dividends declared ($0.62 per share)
— (35.7)— — (35.7)— (35.7)
Treasury share purchases— — (38.4)— (38.4)— (38.4)
Treasury share issuances(0.1)— 1.3 — 1.2 — 1.2 
Balance at January 2, 2021$490.5 $1,224.4 $(958.8)$(83.5)$672.6 $6.4 $679.0 
Net income (loss)— 310.0 — — 310.0 0.2 310.2 
Other comprehensive income (loss)— — — 5.5 5.5 — 5.5 
Share-based compensation17.7 — — — 17.7 — 17.7 
Dividends declared ($0.62 per share)
— (34.2)— — (34.2)— (34.2)
Treasury share purchases— — (23.8)— (23.8)— (23.8)
Treasury share issuances(21.7)— 28.3 — 6.6 — 6.6 
Acquisition of noncontrolling interests(13.4)— — — (13.4)(6.7)(20.1)
Balance at April 3, 2021$473.0 $1,500.2 $(954.3)$(78.0)$940.9 $— $940.9 
The sum of the components may not equal due to rounding.
 Common Shares and Capital in
Excess of Stated Value		Retained
Earnings		Treasury
Shares		Accumulated Other
Comprehensive Loss		Total Equity -
Controlling Interest		Noncontrolling
Interest		Total
Equity
Balance at September 30, 2019$442.2 $1,274.7 $(904.3)$(93.9)$718.7 $4.5 $723.2 
Net income (loss)— (71.4)— — (71.4)0.1 (71.3)
Other comprehensive income (loss)— — — 2.9 2.9 — 2.9 
Share-based compensation7.0 — — — 7.0 — 7.0 
Dividends declared ($0.58 per share)
— (33.5)— — (33.5)— (33.5)
Treasury share issuances(0.3)— 1.2 — 0.9 — 0.9 
Balance at December 28, 2019$448.9 $1,169.8 $(903.1)$(91.0)$624.6 $4.7 $629.3 
Net income (loss)— 252.2 — — 252.2 0.2 252.4 
Other comprehensive income (loss)— — — (16.9)(16.9)— (16.9)
Share-based compensation12.0 — — — 12.0 — 12.0 
Dividends declared ($0.58 per share)
— (33.0)— — (33.0)— (33.0)
Treasury share purchases— — (52.9)— (52.9)— (52.9)
Treasury share issuances(10.5)— 14.2 — 3.7 — 3.7 
Balance at March 28, 2020$450.5 $1,389.0 $(941.9)$(107.9)$789.7 $4.9 $794.6 
The sum of the components may not equal due to rounding.
Changes in AOCL by component were as follows for each of the periods indicated:
Three Months Ended
Foreign Currency
Translation Adjustments		Net Unrealized Gain (Loss)
On Derivative Instruments		Net Unrealized Gain (Loss) in
Pension and Other Post-Retirement Benefits		Accumulated Other
Comprehensive Income (Loss)
Balance at January 2, 2021$6.2 $(10.7)$(79.0)$(83.5)
Other comprehensive income (loss) before reclassifications(4.3)10.0 — 5.7 
Amounts reclassified from accumulated other comprehensive net income (loss)— 2.7 0.5 3.2 
Income tax benefit (expense)— (3.3)(0.1)(3.4)
Net current period other comprehensive income (loss)(4.3)9.4 0.4 5.5 
Balance at April 3, 2021$1.9 $(1.3)$(78.6)$(78.0)
Balance at December 28, 2019$(12.8)$(8.7)$(69.5)$(91.0)
Other comprehensive income (loss) before reclassifications(9.9)(15.0)— (24.9)
Amounts reclassified from accumulated other comprehensive net income (loss)— 2.6 2.9 5.5 
Income tax benefit (expense)— 3.2 (0.7)2.5 
Net current period other comprehensive income (loss)(9.9)(9.2)2.2 (16.9)
Balance at March 28, 2020$(22.7)$(17.9)$(67.3)$(107.9)
The sum of the components may not equal due to rounding.

Six Months Ended
Foreign Currency
Translation Adjustments		Net Unrealized Gain (Loss)
On Derivative Instruments		Net Unrealized Gain (Loss) in
Pension and Other Post-Retirement Benefits		Accumulated Other
Comprehensive Income (Loss)
Balance at September 30, 2020$(6.2)$(15.1)$(77.8)$(99.1)
Other comprehensive income (loss) before reclassifications8.1 13.4 — 21.5 
Amounts reclassified from accumulated other comprehensive net income (loss)— 5.3 (1.1)4.2 
Income tax benefit (expense)— (4.9)0.3 (4.6)
Net current period other comprehensive income (loss)8.1 13.8 (0.8)21.1 
Balance at April 3, 2021$1.9 $(1.3)$(78.6)$(78.0)
Balance at September 30, 2019$(17.4)$(8.1)$(68.4)$(93.9)
Other comprehensive income (loss) before reclassifications(5.3)(16.8)— (22.1)
Amounts reclassified from accumulated other comprehensive net income (loss)— 3.6 1.5 5.1 
Income tax benefit (expense)— 3.4 (0.4)3.0 
Net current period other comprehensive income (loss)(5.3)(9.8)1.1 (14.0)
Balance at March 28, 2020$(22.7)$(17.9)$(67.3)$(107.9)
The sum of the components may not equal due to rounding
Dividends
On July 27, 2020, the Scotts Miracle-Gro Board of Directors approved an increase in the Company’s quarterly cash dividend from $0.58 to $0.62 per Common Share. In addition, on July 27, 2020, the Scotts Miracle-Gro Board of Directors approved a special cash dividend of $5.00 per Common Share, which was paid on September 10, 2020 to all shareholders of record at the close of business on August 27, 2020.
Share Repurchases
On August 11, 2014, Scotts Miracle-Gro announced that its Board of Directors authorized the repurchase of up to $500.0 of Common Shares over a five-year period (effective November 1, 2014 through September 30, 2019). On August 3, 2016, Scotts Miracle-Gro announced that its Board of Directors authorized a $500.0 increase to the share repurchase authorization ending on September 30, 2019. On August 2, 2019, the Scotts Miracle-Gro Board of Directors authorized an extension of the share repurchase authorization through March 28, 2020. The amended authorization allowed for repurchases of Common Shares of up to an aggregate amount of $1,000.0 through March 28, 2020. During the three and six months ended March 28, 2020, Scotts Miracle-Gro repurchased 0.4 million Common Shares under this share repurchase authorization for $48.2. From the effective date of this share repurchase authorization in the fourth quarter of fiscal 2014 through March 28, 2020, Scotts Miracle-Gro repurchased approximately 8.7 million Common Shares for $762.8.
On February 6, 2020, Scotts Miracle-Gro announced that its Board of Directors authorized the repurchase of up to $750.0 of Common Shares from April 30, 2020 through March 25, 2023. The authorization provides the Company with flexibility to purchase Common Shares from time to time in open market purchases or through privately negotiated transactions. All or part of the repurchases may be made under Rule 10b5-1 plans, which the Company may enter into from time to time and which enable the repurchases to occur on a more regular basis, or pursuant to accelerated share repurchases. The share repurchase authorization may be suspended or discontinued by the Board of Directors at any time, and there can be no guarantee as to the timing or amount of any repurchases. There were no share repurchases under this share repurchase authorization during fiscal 2020. During the three and six months ended April 3, 2021, Scotts Miracle-Gro repurchased approximately 0.1 million and 0.3 million Common Shares under this share repurchase authorization for $12.5 and $50.5, respectively. The “Treasury share purchases” lines in the tables above include cash paid to tax authorities to satisfy statutory income tax withholding obligations related to share-based compensation of $11.3 and $11.7 for the three and six months ended April 3, 2021, respectively, and $4.7 for the three and six months ended March 28, 2020.
Share-Based Awards
The following is a summary of the share-based awards granted during each of the periods indicated:
Six Months Ended
 April 3,
2021		March 28,
2020
Employees
Options183,553 — 
Restricted stock units61,749 117,266 
Performance units1,903 37,166 
Non-Employee Directors
Restricted and deferred stock units8,187 15,483 
Total share-based awards255,392 169,915 
Aggregate fair value at grant dates$27.9 $20.6 
Total share-based compensation was as follows for each of the periods indicated:
Three Months EndedSix Months Ended
April 3,
2021		March 28,
2020		April 3,
2021		March 28,
2020
Share-based compensation$17.7 $12.0 $25.8 $19.0 
Related tax benefit recognized1.9 2.1 3.9 3.8 
Stock Options
Stock option activity during the six months ended April 3, 2021 was as follows:
No. of
Options		Wtd. Avg.
Exercise Price
Awards outstanding at September 30, 2020619,225 $57.90 
Granted183,553 236.53 
Exercised(99,902)61.45 
Awards outstanding at April 3, 2021702,876 104.04 
Exercisable519,323 57.21 
At April 3, 2021, the total pre-tax compensation cost, net of estimated forfeitures, related to nonvested stock options not yet recognized was $4.1, which is expected to be recognized over a weighted-average period of 2.7 years. The total intrinsic value of stock options exercised was $17.1 for the six months ended April 3, 2021. Cash received from the exercise of stock options, including amounts received from employee purchases under the employee stock purchase plan, was $7.5 and $2.1 for the six months ended April 3, 2021 and March 28, 2020, respectively. The following summarizes certain information pertaining to stock option awards outstanding and exercisable at April 3, 2021:
Awards OutstandingAwards Exercisable
Range of Exercise PriceNo of
Options		Wtd. Avg. Remaining LifeWtd. Avg.
Exercise
Price		No. of
Options		Wtd. Avg.
Remaining
Life		Wtd. Avg.
Exercise
Price
$42.60 - $42.60
0.1 0.80$42.60 0.1 0.80$42.60 
$59.62 - $64.55
0.4 4.3462.18 0.4 4.3462.18 
$236.53 - $236.53
0.2 9.84236.53 — 0— 
0.7 5.11104.04 0.5 3.4457.21 
The intrinsic values of the stock option awards outstanding and exercisable at April 3, 2021 were as follows:
Outstanding$102.6 
Exercisable100.1 
The grant date fair value of stock option awards is estimated using a binomial model. Expected market price volatility is based on implied volatilities from traded options on Common Shares and historical volatility specific to the Common Shares. Historical data, including demographic factors impacting historical exercise behavior, is used to estimate stock option exercises and employee terminations within the valuation model. The risk-free rate for periods within the contractual life of the stock option is based on the U.S. Treasury yield curve in effect at the time of grant. The expected life of stock options is based on historical experience and expectations for grants outstanding. The weighted average assumptions for awards granted in fiscal 2021 are as follows:
Expected market price volatility31.9 %
Risk-free interest rate0.7 %
Expected dividend yield1.8 %
Expected life of stock options in years6.06
Estimated weighted-average fair value per stock option$61.15 
Restricted share-based awards
Restricted share-based award activity (including restricted stock units and deferred stock units) during the six months ended April 3, 2021 was as follows: 
No. of
Units		Wtd. Avg. Grant Date
Fair Value per Unit
Awards outstanding at September 30, 2020500,237 $94.53 
Granted69,936 232.70 
Vested(132,105)97.00 
Forfeited(5,630)98.67 
Awards outstanding at April 3, 2021432,438 116.07 
At April 3, 2021, the total pre-tax compensation cost, net of estimated forfeitures, related to nonvested restricted stock
units not yet recognized was $13.8, which is expected to be recognized over a weighted-average period of 2.0 years. The total fair value of restricted stock units and deferred stock units vested was $29.5 for the six months ended April 3, 2021.
Performance-based awards
Performance-based award activity during the six months ended April 3, 2021 was as follows (based on target award amounts):
No. of
Units		Wtd. Avg. Grant Date
Fair Value per Unit
Awards outstanding at September 30, 2020666,128 $92.85 
Granted1,903 236.53 
Vested (1)
(26,729)87.99 
Forfeited(63,959)90.91 
Awards outstanding at April 3, 2021577,343 96.75 

(1)     Vested at an average of 196 percent of the target performance share units granted.
At April 3, 2021, the total pre-tax compensation cost, net of estimated forfeitures, related to nonvested performance-based units not yet recognized was $16.9, which is expected to be recognized over a weighted-average period of 1.3 years. The total fair value of performance-based units vested was $11.9 for the six months ended April 3, 2021.