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EQUITY (Tables) | 9 Months Ended
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Jul. 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 |
Net income (loss) | — |  |  | 43.7 |  |  | — |  |  | — |  |  |  |  |  |  | 43.7 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | 6.6 |  |  |  |  |  |  | 6.6 |
Share-based compensation | (5.8) |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | (5.8) |
Dividends declared ($0.66 per share) | — |  |  | (37.2) |  |  | — |  |  | — |  |  |  |  |  |  | (37.2) |
Treasury share purchases | — |  |  | — |  |  | (2.8) |  |  | — |  |  |  |  |  |  | (2.8) |
Treasury share issuances | (18.0) |  |  | — |  |  | 10.8 |  |  | — |  |  |  |  |  |  | (7.2) |
Balance at July 1, 2023 | $ | 350.5 |  |  | $ | 996.8 |  |  | $ | (1,032.0) |  |  | $ | (180.5) |  |  |  |  |  |  | $ | 134.8 |
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 |
Net income (loss) | — |  |  | (443.9) |  |  | — |  |  | — |  |  |  |  |  |  | (443.9) |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | (76.3) |  |  |  |  |  |  | (76.3) |
Share-based compensation | 1.6 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 1.6 |
Dividends declared ($0.66 per share) | — |  |  | (38.0) |  |  | — |  |  | — |  |  |  |  |  |  | (38.0) |
Treasury share purchases | — |  |  | — |  |  | (0.1) |  |  | — |  |  |  |  |  |  | (0.1) |
Treasury share issuances | (1.4) |  |  | — |  |  | 1.2 |  |  | — |  |  |  |  |  |  | (0.2) |
Balance at July 2, 2022 | $ | 362.0 |  |  | $ | 1,276.9 |  |  | $ | (1,096.1) |  |  | $ | (124.7) |  |  |  |  |  |  | $ | 418.1 |
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 April 1, 2023 |  | $ | (20.7) |  |  | $ | 11.8 |  |  | $ | (105.7) |  |  | $ | (72.6) |  |  | $ | (187.1) |
Other comprehensive income (loss) before reclassifications |  | 2.7 |  |  | 9.7 |  |  | 0.6 |  |  | — |  |  | 13.0 |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (4.3) |  |  | — |  |  | (0.8) |  |  | (5.1) |
Income tax benefit (expense) |  | — |  |  | (1.4) |  |  | (0.1) |  |  | 0.2 |  |  | (1.3) |
Net current period other comprehensive income (loss) |  | 2.7 |  |  | 4.0 |  |  | 0.5 |  |  | (0.6) |  |  | 6.6 |
Balance at July 1, 2023 |  | $ | (18.0) |  |  | $ | 15.8 |  |  | $ | (105.2) |  |  | $ | (73.2) |  |  | $ | (180.5) |
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) |
The sum of the components may not equal due to rounding.
|  | Nine 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 |  | 10.9 |  |  | (3.2) |  |  | (33.5) |  |  | — |  |  | (25.8) |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (20.3) |  |  | — |  |  | (5.1) |  |  | (25.4) |
Income tax benefit (expense) |  | — |  |  | 5.9 |  |  | 8.0 |  |  | 1.3 |  |  | 15.2 |
Net current period other comprehensive income (loss) |  | 10.9 |  |  | (17.5) |  |  | (25.5) |  |  | (3.8) |  |  | (35.9) |
Balance at July 1, 2023 |  | $ | (18.0) |  |  | $ | 15.8 |  |  | $ | (105.2) |  |  | $ | (73.2) |  |  | $ | (180.5) |
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) |
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 |  | Nine Months Ended
| July 1, 2023 |  | July 2, 2022 |  | July 1, 2023 |  | July 2, 2022
Share-based compensation | $ | (5.8) |  |  | $ | 1.6 |  |  | $ | 52.2 |  |  | $ | 24.8 |
Related tax benefit recognized | 0.6 |  |  | 0.3 |  |  | 11.4 |  |  | 3.8 |

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