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RETIREMENT PLANS (Tables)
12 Months Ended
Sep. 30, 2023
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Pension Plans The defined benefit pension plans are valued using a September 30 measurement date.
 
U.S. Defined
Benefit Pension Plans
International
Defined
Benefit Pension Plans
 2023202220232022
Change in projected benefit obligation:
Benefit obligation at beginning of year$77.7 $100.2 $109.2 $193.6 
Interest cost3.6 1.7 6.2 3.0 
Actuarial gain(2.5)(17.2)(11.0)(55.1)
Benefits paid(6.9)(7.0)(5.9)(7.5)
Foreign currency translation— — 10.0 (24.8)
Projected benefit obligation (“PBO”) at end of year$71.8 $77.7 $108.5 $109.2 
Accumulated benefit obligation (“ABO”) at end of year$71.8 $77.7 $108.5 $109.2 
Change in plan assets:
Fair value of plan assets at beginning of year$59.1 $81.7 $128.9 $221.6 
Actual return on plan assets1.7 (15.8)(11.5)(61.2)
Employer contribution0.2 0.2 1.2 5.3 
Benefits paid(6.9)(7.0)(5.9)(7.5)
Foreign currency translation— — 12.1 (29.3)
Fair value of plan assets at end of year$54.1 $59.1 $124.8 $128.9 
Overfunded (underfunded) status at end of year $(17.7)$(18.6)$16.3 $19.7 
 
U.S. Defined
Benefit Pension Plans
International
Defined
Benefit Pension Plans
 2023202220232022
Information for pension plans with an ABO in excess of plan assets:
Accumulated benefit obligation$71.8 $77.7 $11.5 $11.6 
Fair value of plan assets54.1 59.1 — — 
Information for pension plans with a PBO in excess of plan assets:
Projected benefit obligation$71.8 $77.7 $11.5 $11.6 
Fair value of plan assets54.1 59.1 — — 
Amounts recognized in the Consolidated Balance Sheets consist of:
Non-current assets$— $— $27.8 $31.3 
Current liabilities(0.2)(0.2)(0.9)(0.8)
Non-current liabilities(17.5)(18.4)(10.6)(10.8)
Total amount accrued$(17.7)$(18.6)$16.3 $19.7 
Amounts recognized in AOCL consist of:
Actuarial loss$35.2 $38.8 $60.0 $51.2 
Prior service cost— — 2.1 2.1 
Total amount recognized$35.2 $38.8 $62.1 $53.3 
 U.S. Defined
Benefit Pension Plans
International
Defined
Benefit Pension Plans
 2023202220232022
Total change in other comprehensive loss attributable to:
Net gain (loss) during the period$1.8 $(1.3)$(6.0)$(11.1)
Reclassification to net earnings1.8 1.7 2.0 1.3 
Foreign currency translation— — (4.8)10.6 
Total change in other comprehensive loss$3.6 $0.4 $(8.8)$0.8 
Weighted average assumptions used in development of projected benefit obligation:
Discount rate5.54 %5.06 %5.38 %4.96 %
Components of Net Periodic Benefit Cost
 U.S. Defined
Benefit Pension Plans
International
Defined Benefit Pension Plans
 202320222021202320222021
Components of net periodic benefit cost (income):
Interest cost$3.6 $1.7 $1.5 $6.2 $3.0 $2.6 
Expected return on plan assets(2.5)(2.8)(3.4)(5.5)(5.1)(5.5)
Net amortization1.8 1.7 2.1 2.0 1.3 1.3 
Net periodic benefit cost (income)$2.9 $0.6 $0.2 $2.7 $(0.8)$(1.6)
Weighted average assumptions used in development of net periodic benefit cost (income):
Weighted average discount rate - interest cost4.87 %1.74 %1.43 %5.29 %1.64 %1.26 %
Expected return on plan assets4.50 %3.50 %4.25 %3.91 %2.37 %2.45 %
Schedule of Other Information
U.S. Defined
Benefit Pension Plans
International
Defined
Benefit Pension Plans
Other information:
Plan asset allocations:
Target for September 30, 2024:
Equity securities22 %— %
Debt securities74 %%
Real estate securities%— %
Cash and cash equivalents— %11 %
Insurance contracts— %84 %
September 30, 2023
Equity securities18 %— %
Debt securities75 %%
Real estate securities%— %
Cash and cash equivalents%11 %
Insurance contracts— %84 %
September 30, 2022
Equity securities17 %25 %
Debt securities75 %44 %
Real estate securities%— %
Cash and cash equivalents%%
Insurance contracts— %30 %
Expected company contributions in fiscal 2024$2.9 $1.8 
Expected future benefit payments:
2024$7.4 $6.4 
20257.1 6.7 
20267.0 6.8 
20276.8 6.8 
20286.6 7.0 
2029 – 203329.4 37.0 
Fair Value of The Company's Pension Plan Asset
The following tables set forth the fair value of the Company’s pension plan assets, segregated by level within the fair value hierarchy:
U.S. Defined
Benefit Pension Plans
International
Defined
Benefit Pension Plans
Fair Value Hierarchy Level2023202220232022
Cash and cash equivalentsLevel 1$2.2 $2.1 $14.0 $1.7 
Insurance contractsLevel 3— — 104.3 38.1 
Total assets in the fair value hierarchy$2.2 $2.1 $118.3 $39.8 
Common collective trusts measured at net asset value
Real estate$1.8 $2.8 $— $— 
Equities10.0 10.0 — 32.6 
Fixed income40.1 44.2 6.5 56.5 
Total common collective trusts measured at net asset value51.9 57.0 6.5 89.1 
Total assets at fair value$54.1 $59.1 $124.8 $128.9