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v3.23.1

EQUITY (Tables) | 6 Months Ended
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Apr. 01, 2023
Equity [Abstract] |
Summary of Changes in Equity | The following tables provide a summary of the changes in equity 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
Balance at September 30, 2022 | $ | 364.0 |  |  | $ | 1,020.1 |  |  | $ | (1,091.8) |  |  | $ | (144.6) |  |  |  |  |  |  | $ | 147.7 |
Net income (loss) | — |  |  | (64.7) |  |  | — |  |  | — |  |  |  |  |  |  | (64.7) |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | (24.6) |  |  |  |  |  |  | (24.6) |
Share-based compensation | 20.8 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 20.8 |
Dividends declared ($0.66 per share) | — |  |  | (37.5) |  |  | — |  |  | — |  |  |  |  |  |  | (37.5) |
Treasury share purchases | — |  |  | — |  |  | (0.8) |  |  | — |  |  |  |  |  |  | (0.8) |
Treasury share issuances | (17.2) |  |  | — |  |  | 35.9 |  |  | — |  |  |  |  |  |  | 18.7 |
Balance at December 31, 2022 | 367.6 |  |  | 917.9 |  |  | (1,056.7) |  |  | (169.3) |  |  |  |  |  |  | 59.5 |
Net income (loss) | — |  |  | 109.4 |  |  | — |  |  | — |  |  |  |  |  |  | 109.4 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | (17.8) |  |  |  |  |  |  | (17.8) |
Share-based compensation | 37.2 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 37.2 |
Dividends declared ($0.66 per share) | — |  |  | (37.0) |  |  | — |  |  | — |  |  |  |  |  |  | (37.0) |
Treasury share purchases | — |  |  | — |  |  | (5.6) |  |  | — |  |  |  |  |  |  | (5.6) |
Treasury share issuances | (30.4) |  |  | — |  |  | 22.3 |  |  | — |  |  |  |  |  |  | (8.1) |
Balance at April 1, 2023 | $ | 374.3 |  |  | $ | 990.3 |  |  | $ | (1,040.0) |  |  | $ | (187.1) |  |  |  |  |  |  | $ | 137.5 |
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
Balance at September 30, 2021 | $ | 477.0 |  |  | $ | 1,605.1 |  |  | $ | (1,002.4) |  |  | $ | (66.4) |  |  |  |  |  |  | $ | 1,013.3 |
Net income (loss) | — |  |  | (50.0) |  |  | — |  |  | — |  |  |  |  |  |  | (50.0) |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | 5.7 |  |  |  |  |  |  | 5.7 |
Share-based compensation | 7.3 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 7.3 |
Dividends declared ($0.66 per share) | — |  |  | (37.3) |  |  | — |  |  | — |  |  |  |  |  |  | (37.3) |
Treasury share purchases | — |  |  | — |  |  | (129.5) |  |  | — |  |  |  |  |  |  | (129.5) |
Treasury share issuances | 2.6 |  |  | — |  |  | 19.5 |  |  | — |  |  |  |  |  |  | 22.1 |
Balance at January 1, 2022 | 486.9 |  |  | 1,517.8 |  |  | (1,112.4) |  |  | (60.7) |  |  |  |  |  |  | 831.6 |
Net income (loss) | — |  |  | 276.5 |  |  | — |  |  | — |  |  |  |  |  |  | 276.5 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | 12.3 |  |  |  |  |  |  | 12.3 |
Share-based compensation | 15.9 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 15.9 |
Dividends declared ($0.66 per share) | — |  |  | (35.5) |  |  | — |  |  | — |  |  |  |  |  |  | (35.5) |
Treasury share purchases | — |  |  | — |  |  | (128.1) |  |  | — |  |  |  |  |  |  | (128.1) |
Treasury share issuances | (141.0) |  |  | — |  |  | 143.3 |  |  | — |  |  |  |  |  |  | 2.3 |
Balance at April 2, 2022 | $ | 361.8 |  |  | $ | 1,758.8 |  |  | $ | (1,097.2) |  |  | $ | (48.4) |  |  |  |  |  |  | $ | 975.0 |
The sum of the components may not equal due to rounding.
Schedule of 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 Gain (Loss) On Derivative Instruments |  | Net Unrealized Gain (Loss) On Securities |  | Pension and Other Post-Retirement Benefit Adjustments |  | Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2022 |  | $ | (21.7) |  |  | $ | 24.8 |  |  | $ | (100.2) |  |  | $ | (72.2) |  |  | $ | (169.3) |
Other comprehensive income (loss) before reclassifications |  | 1.1 |  |  | (6.4) |  |  | (7.3) |  |  | — |  |  | (12.6) |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (11.0) |  |  | — |  |  | (0.4) |  |  | (11.4) |
Income tax benefit (expense) |  | — |  |  | 4.4 |  |  | 1.7 |  |  | 0.1 |  |  | 6.2 |
Net current period other comprehensive income (loss) |  | 1.1 |  |  | (13.0) |  |  | (5.6) |  |  | (0.3) |  |  | (17.8) |
Balance at April 1, 2023 |  | $ | (20.7) |  |  | $ | 11.8 |  |  | $ | (105.7) |  |  | $ | (72.6) |  |  | $ | (187.1) |
Balance at January 1, 2022 |  | $ | (6.0) |  |  | $ | 19.5 |  |  | $ | (2.2) |  |  | $ | (72.1) |  |  | $ | (60.7) |
Other comprehensive income (loss) before reclassifications |  | (1.3) |  |  | 21.9 |  |  | 0.1 |  |  | — |  |  | 20.7 |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (5.8) |  |  | — |  |  | 2.2 |  |  | (3.6) |
Income tax benefit (expense) |  | — |  |  | (4.2) |  |  | — |  |  | (0.6) |  |  | (4.8) |
Net current period other comprehensive income (loss) |  | (1.3) |  |  | 11.9 |  |  | 0.1 |  |  | 1.6 |  |  | 12.3 |
Balance at April 2, 2022 |  | $ | (7.3) |  |  | $ | 31.5 |  |  | $ | (2.1) |  |  | $ | (70.5) |  |  | $ | (48.4) |
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) On Securities |  | Pension and Other Post-Retirement Benefit Adjustments |  | Accumulated Other Comprehensive Income (Loss)
Balance at September 30, 2022 |  | $ | (28.9) |  |  | $ | 33.3 |  |  | $ | (79.7) |  |  | $ | (69.3) |  |  | $ | (144.6) |
Other comprehensive income (loss) before reclassifications |  | 8.3 |  |  | (12.9) |  |  | (34.1) |  |  | — |  |  | (38.7) |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (16.0) |  |  | — |  |  | (4.3) |  |  | (20.3) |
Income tax benefit (expense) |  | — |  |  | 7.4 |  |  | 8.1 |  |  | 1.1 |  |  | 16.6 |
Net current period other comprehensive income (loss) |  | 8.3 |  |  | (21.5) |  |  | (26.0) |  |  | (3.2) |  |  | (42.4) |
Balance at April 1, 2023 |  | $ | (20.7) |  |  | $ | 11.8 |  |  | $ | (105.7) |  |  | $ | (72.6) |  |  | $ | (187.1) |
Balance at September 30, 2021 |  | $ | (1.7) |  |  | $ | 10.2 |  |  | $ | (2.3) |  |  | $ | (72.5) |  |  | $ | (66.4) |
Other comprehensive income (loss) before reclassifications |  | (5.6) |  |  | 34.9 |  |  | 0.4 |  |  | — |  |  | 29.7 |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (6.1) |  |  | — |  |  | 2.8 |  |  | (3.3) |
Income tax benefit (expense) |  | — |  |  | (7.5) |  |  | (0.1) |  |  | (0.7) |  |  | (8.2) |
Net current period other comprehensive income (loss) |  | (5.6) |  |  | 21.3 |  |  | 0.3 |  |  | 2.1 |  |  | 18.1 |
Balance at April 2, 2022 |  | $ | (7.3) |  |  | $ | 31.5 |  |  | $ | (2.1) |  |  | $ | (70.5) |  |  | $ | (48.4) |
The sum of the components may not equal due to rounding.
Schedule of Share-Based Compensation | Total share-based compensation was as follows for each of the periods indicated:
| Three Months Ended |  | Six Months Ended
| April 1, 2023 |  | April 2, 2022 |  | April 1, 2023 |  | April 2, 2022
Share-based compensation | $ | 37.2 |  |  | $ | 15.9 |  |  | $ | 57.9 |  |  | $ | 23.2 |
Related tax benefit recognized | 6.1 |  |  | 1.7 |  |  | 10.8 |  |  | 3.5 |
Schedule of Restricted Share-based Award Activity | Restricted stock-based awards granted to employees and non-employee directors (including restricted stock units and deferred stock units) during the six months ended April 1, 2023 were as follows:
| No. of Units |  | Wtd. Avg. Grant Date Fair Value per Unit
Awards outstanding at September 30, 2022 | 320,575 |  |  | $ | 143.19 |
Granted | 433,880 |  |  | 59.54 |
Vested | (113,547) |  |  | 117.22 |
Forfeited | (22,891) |  |  | 104.90 |
Awards outstanding at April 1, 2023 | 618,017 |  |  | 90.65 |
Schedule of Performance-based Award Activity | Performance-based award activity during the six months ended April 1, 2023 was as follows (based on target award amounts):
| No. of Units |  | Wtd. Avg. Grant Date Fair Value per Unit
Awards outstanding at September 30, 2022 | 113,256 |  |  | $ | 130.94 |
Granted | 682,797 |  |  | 65.97 |
Vested (a) | (250,483) |  |  | 69.05 |
Forfeited | (14,723) |  |  | 104.82 |
Awards outstanding at April 1, 2023 | 530,847 |  |  | 77.32 |
(a) Vested at a weighted average of 102% of the target performance share units granted.

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