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EQUITY | 9 Months Ended
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Jul. 02, 2022
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, 2021 | $ | 477.0 |  |  | $ | 1,605.1 |  |  | $ | (1,002.4) |  |  | $ | (66.4) |  |  | $ | 1,013.3 |  |  | $ | — |  |  | $ | 1,013.3 |
Net income (loss) | — |  |  | (50.0) |  |  | — |  |  | — |  |  | (50.0) |  |  | — |  |  | (50.0) |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | 5.7 |  |  | 5.7 |  |  | — |  |  | 5.7 |
Share-based compensation | 7.3 |  |  | — |  |  | — |  |  | — |  |  | 7.3 |  |  | — |  |  | 7.3 |
Dividends declared ($0.66 per share) | — |  |  | (37.3) |  |  | — |  |  | — |  |  | (37.3) |  |  | — |  |  | (37.3) |
Treasury share purchases | — |  |  | — |  |  | (129.5) |  |  | — |  |  | (129.5) |  |  | — |  |  | (129.5) |
Treasury share issuances | 2.6 |  |  | — |  |  | 19.5 |  |  | — |  |  | 22.1 |  |  | — |  |  | 22.1 |
Balance at January 1, 2022 | $ | 486.9 |  |  | $ | 1,517.8 |  |  | $ | (1,112.4) |  |  | $ | (60.7) |  |  | $ | 831.6 |  |  | $ | — |  |  | $ | 831.6 |
Net income (loss) | — |  |  | 276.5 |  |  | — |  |  | — |  |  | 276.5 |  |  | — |  |  | 276.5 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | 12.3 |  |  | 12.3 |  |  | — |  |  | 12.3 |
Share-based compensation | 15.9 |  |  | — |  |  | — |  |  | — |  |  | 15.9 |  |  | — |  |  | 15.9 |
Dividends declared ($0.66 per share) | — |  |  | (35.5) |  |  | — |  |  | — |  |  | (35.5) |  |  | — |  |  | (35.5) |
Treasury share purchases | — |  |  | — |  |  | (128.1) |  |  | — |  |  | (128.1) |  |  | — |  |  | (128.1) |
Treasury share issuances | (141.0) |  |  | — |  |  | 143.3 |  |  | — |  |  | 2.3 |  |  | — |  |  | 2.3 |
Balance at April 2, 2022 | $ | 361.8 |  |  | $ | 1,758.8 |  |  | $ | (1,097.2) |  |  | $ | (48.4) |  |  | $ | 975.0 |  |  | $ | — |  |  | $ | 975.0 |
Net income (loss) | — |  |  | (443.9) |  |  | — |  |  | — |  |  | (443.9) |  |  | — |  |  | (443.9) |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | (76.3) |  |  | (76.3) |  |  | — |  |  | (76.3) |
Share-based compensation | 1.6 |  |  | — |  |  | — |  |  | — |  |  | 1.6 |  |  | — |  |  | 1.6 |
Dividends declared ($0.66 per share) | — |  |  | (38.0) |  |  | — |  |  | — |  |  | (38.0) |  |  | — |  |  | (38.0) |
Treasury share purchases | — |  |  | — |  |  | (0.1) |  |  | — |  |  | (0.1) |  |  | — |  |  | (0.1) |
Treasury share issuances | (1.4) |  |  | — |  |  | 1.2 |  |  | — |  |  | (0.2) |  |  | — |  |  | (0.2) |
Balance at July 2, 2022 | $ | 362.0 |  |  | $ | 1,276.9 |  |  | $ | (1,096.1) |  |  | $ | (124.7) |  |  | $ | 418.1 |  |  | $ | — |  |  | $ | 418.1 |
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, 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 compensation | 8.2 |  |  | — |  |  | — |  |  | — |  |  | 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 compensation | 17.7 |  |  | — |  |  | — |  |  | — |  |  | 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 |
Net income (loss) | — |  |  | 225.9 |  |  | — |  |  | — |  |  | 225.9 |  |  | — |  |  | 225.9 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | 4.1 |  |  | 4.1 |  |  | — |  |  | 4.1 |
Share-based compensation | 8.1 |  |  | — |  |  | — |  |  | — |  |  | 8.1 |  |  | — |  |  | 8.1 |
Dividends declared ($0.62 per share) | — |  |  | (35.1) |  |  | — |  |  | — |  |  | (35.1) |  |  | — |  |  | (35.1) |
Treasury share purchases | — |  |  | — |  |  | (28.8) |  |  | — |  |  | (28.8) |  |  | — |  |  | (28.8) |
Treasury share issuances | (9.7) |  |  | — |  |  | 17.0 |  |  | — |  |  | 7.3 |  |  | — |  |  | 7.3 |
Balance at July 3, 2021 | $ | 471.4 |  |  | $ | 1,691.0 |  |  | $ | (966.1) |  |  | $ | (73.9) |  |  | $ | 1,122.4 |  |  | $ | — |  |  | $ | 1,122.4 |
The sum of the components may not equal due to rounding. Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss (“AOCL”) by component were as follows for each of the periods indicated:
|  | Three Months Ended
|  | Foreign Currency Translation Adjustments |  | Net Unrealized Gains (Losses) On Derivative Instruments |  | Net Unrealized Gains (Losses) On Securities |  | Pension and Other Post-Retirement Benefit Adjustments |  | Accumulated Other Comprehensive Income (Loss)
Balance at April 2, 2022 |  | $ | (7.3) |  |  | $ | 31.5 |  |  | $ | (2.1) |  |  | $ | (70.5) |  |  | $ | (48.4) |
Other comprehensive income (loss) before reclassifications |  | (12.3) |  |  | (12.2) |  |  | (79.2) |  |  | — |  |  | (103.7) |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | 1.9 |  |  | — |  |  | 4.9 |  |  | 6.8 |
Income tax benefit (expense) |  | — |  |  | 2.7 |  |  | 19.2 |  |  | (1.3) |  |  | 20.6 |
Net current period other comprehensive income (loss) |  | (12.3) |  |  | (7.6) |  |  | (60.0) |  |  | 3.6 |  |  | (76.3) |
Balance at July 2, 2022 |  | $ | (19.6) |  |  | $ | 23.9 |  |  | $ | (62.1) |  |  | $ | (67.0) |  |  | $ | (124.7) |
Balance at April 3, 2021 |  | $ | 1.9 |  |  | $ | (1.3) |  |  | $ | — |  |  | $ | (78.6) |  |  | $ | (78.0) |
Other comprehensive income (loss) before reclassifications |  | 2.4 |  |  | 2.2 |  |  | — |  |  | — |  |  | 4.6 |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | 0.7 |  |  | — |  |  | (0.5) |  |  | 0.2 |
Income tax benefit (expense) |  | — |  |  | (0.8) |  |  | — |  |  | 0.1 |  |  | (0.7) |
Net current period other comprehensive income (loss) |  | 2.4 |  |  | 2.1 |  |  | — |  |  | (0.4) |  |  | 4.1 |
Balance at July 3, 2021 |  | $ | 4.3 |  |  | $ | 0.8 |  |  | $ | — |  |  | $ | (79.0) |  |  | $ | (73.9) |
The sum of the components may not equal due to rounding.
|  | Nine Months Ended
|  | Foreign Currency Translation Adjustments |  | Net Unrealized Gains (Losses) On Derivative Instruments |  | Net Unrealized Gains (Losses) On Securities |  | Pension and Other Post-Retirement Benefit Adjustments |  | Accumulated Other Comprehensive Income (Loss)
Balance at September 30, 2021 |  | $ | (1.7) |  |  | $ | 10.2 |  |  | $ | (2.3) |  |  | $ | (72.5) |  |  | $ | (66.4) |
Other comprehensive income (loss) before reclassifications |  | (17.9) |  |  | 22.7 |  |  | (78.9) |  |  | — |  |  | (74.1) |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (4.1) |  |  | — |  |  | 7.6 |  |  | 3.5 |
Income tax benefit (expense) |  | — |  |  | (4.8) |  |  | 19.1 |  |  | (2.0) |  |  | 12.3 |
Net current period other comprehensive income (loss) |  | (17.9) |  |  | 13.8 |  |  | (59.8) |  |  | 5.6 |  |  | (58.3) |
Balance at July 2, 2022 |  | $ | (19.6) |  |  | $ | 23.9 |  |  | $ | (62.1) |  |  | $ | (67.0) |  |  | $ | (124.7) |
Balance at September 30, 2020 |  | $ | (6.2) |  |  | $ | (15.1) |  |  | $ | — |  |  | $ | (77.8) |  |  | $ | (99.1) |
Other comprehensive income (loss) before reclassifications |  | 10.5 |  |  | 15.5 |  |  | — |  |  | — |  |  | 26.0 |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | 5.9 |  |  | — |  |  | (1.6) |  |  | 4.3 |
Income tax benefit (expense) |  | — |  |  | (5.5) |  |  | — |  |  | 0.4 |  |  | (5.1) |
Net current period other comprehensive income (loss) |  | 10.5 |  |  | 15.9 |  |  | — |  |  | (1.2) |  |  | 25.2 |
Balance at July 3, 2021 |  | $ | 4.3 |  |  | $ | 0.8 |  |  | $ | — |  |  | $ | (79.0) |  |  | $ | (73.9) |
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 Scotts Miracle-Gro’s quarterly cash dividend from $0.58 to $0.62 per Common Share, which was first paid in the fourth quarter of fiscal 2020. On July 30, 2021, the Scotts Miracle-Gro Board of Directors approved an increase in Scotts Miracle-Gro’s quarterly cash dividend from $0.62 to $0.66 per Common Share, which was first paid in the fourth quarter of fiscal 2021. Share Repurchases 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 timin g or amount of any repurchases. During the three and nine months ended July 2, 2022, Scotts Miracle-Gro repurchased 0.0 million and 1.1 million Common Shares under this share repurchase authorization for $0.0 and $175.0, respectively. During the three and nine months ended July 3, 2021, Scotts Miracle-Gro repurchased 0.1 million and 0.4 million Common Shares under this share repurchase authorization for $25.0 and $75.6, respectively. Treasury share purchases also include cash paid to tax authorities to satisfy statutory income tax withholding obligations related to share-based compensation of $0.1 and $82.7 for the three and nine months ended July 2, 2022, respectively, and $3.8 and $15.5 for the three and nine months ended July 3, 2021, respectively. Share-Based Awards The following is a summary of the share-based awards granted during each of the periods indicated:
| Nine Months Ended
| July 2, 2022 |  | July 3, 2021
Employees |  |  |
Options | — |  |  | 183,553 |
Restricted stock units | 144,814 |  |  | 69,758 |
Performance units | 105,756 |  |  | 1,903 |
Non-Employee Directors |  |  |
Restricted and deferred stock units | 19,701 |  |  | 8,518 |
Total share-based awards | 270,271 |  |  | 263,732 |
Aggregate fair value at grant dates | $ | 35.9 |  |  | $ | 29.9 |
Total share-based compensation was as follows for each of the periods indicated:
| Three Months Ended |  | Nine Months Ended
| July 2, 2022 |  | July 3, 2021 |  | July 2, 2022 |  | July 3, 2021
Share-based compensation | $ | 1.6 |  |  | $ | 8.1 |  |  | $ | 24.8 |  |  | $ | 34.0 |
Related tax benefit recognized | 0.3 |  |  | 2.1 |  |  | 3.8 |  |  | 6.0 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
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