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RETIREMENT PLANS (Tables) | 12 Months Ended
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Sep. 30, 2024
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
| 2024 |  | 2023 |  | 2024 |  | 2023
Change in projected benefit obligation: |  |  |  |  |  |  |
Benefit obligation at beginning of year | $ | 71.8 |  |  | $ | 77.7 |  |  | $ | 108.5 |  |  | $ | 109.2 |
Interest cost | 3.7 |  |  | 3.6 |  |  | 5.9 |  |  | 6.2 |
Actuarial (gain) loss | 5.5 |  |  | (2.5) |  |  | 5.1 |  |  | (11.0) |
Benefits paid | (6.8) |  |  | (6.9) |  |  | (6.6) |  |  | (5.9) |
Foreign currency translation | — |  |  | — |  |  | 10.3 |  |  | 10.0 |
Projected benefit obligation (“PBO”) at end of year | $ | 74.2 |  |  | $ | 71.8 |  |  | $ | 123.2 |  |  | $ | 108.5 |
Accumulated benefit obligation (“ABO”) at end of year | $ | 74.2 |  |  | $ | 71.8 |  |  | $ | 123.2 |  |  | $ | 108.5 |
Change in plan assets: |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | $ | 54.1 |  |  | $ | 59.1 |  |  | $ | 124.8 |  |  | $ | 128.9 |
Actual return on plan assets | 7.1 |  |  | 1.7 |  |  | 10.0 |  |  | (11.5) |
Employer contribution | 2.9 |  |  | 0.2 |  |  | 0.9 |  |  | 1.2 |
Benefits paid | (6.8) |  |  | (6.9) |  |  | (6.6) |  |  | (5.9) |
Foreign currency translation | — |  |  | — |  |  | 12.3 |  |  | 12.1 |
Fair value of plan assets at end of year | $ | 57.3 |  |  | $ | 54.1 |  |  | $ | 141.4 |  |  | $ | 124.8 |
Overfunded (underfunded) status at end of year | $ | (16.9) |  |  | $ | (17.7) |  |  | $ | 18.2 |  |  | $ | 16.3 |
| U.S. Defined Benefit Pension Plans |  | International Defined Benefit Pension Plans
| 2024 |  | 2023 |  | 2024 |  | 2023
Information for pension plans with an ABO in excess of plan assets: |  |  |  |  |  |  |
Accumulated benefit obligation | $ | 74.2 |  |  | $ | 71.8 |  |  | $ | 12.0 |  |  | $ | 11.5 |
Fair value of plan assets | 57.3 |  |  | 54.1 |  |  | — |  |  | — |
Information for pension plans with a PBO in excess of plan assets: |  |  |  |  |  |  |
Projected benefit obligation | $ | 74.2 |  |  | $ | 71.8 |  |  | $ | 12.0 |  |  | $ | 11.5 |
Fair value of plan assets | 57.3 |  |  | 54.1 |  |  | — |  |  | — |
Amounts recognized in the Consolidated Balance Sheets consist of: |  |  |  |  |  |  |
Non-current assets | $ | — |  |  | $ | — |  |  | $ | 30.2 |  |  | $ | 27.8 |
Current liabilities | (0.2) |  |  | (0.2) |  |  | (0.9) |  |  | (0.9) |
Non-current liabilities | (16.7) |  |  | (17.5) |  |  | (11.1) |  |  | (10.6) |
Total amount accrued | $ | (16.9) |  |  | $ | (17.7) |  |  | $ | 18.2 |  |  | $ | 16.3 |
Amounts recognized in AOCL consist of: |  |  |  |  |  |  |
Actuarial loss | $ | 34.1 |  |  | $ | 35.2 |  |  | $ | 64.1 |  |  | $ | 60.0 |
Prior service cost | — |  |  | — |  |  | 2.3 |  |  | 2.1 |
Total amount recognized | $ | 34.1 |  |  | $ | 35.2 |  |  | $ | 66.4 |  |  | $ | 62.1 |
| U.S. Defined Benefit Pension Plans |  | International Defined Benefit Pension Plans
| 2024 |  | 2023 |  | 2024 |  | 2023
Total change in other comprehensive loss attributable to: |  |  |  |  |  |  |
Net gain (loss) during the period | $ | (0.5) |  |  | $ | 1.8 |  |  | $ | (0.7) |  |  | $ | (6.0) |
Reclassification to net earnings | 1.7 |  |  | 1.8 |  |  | 2.3 |  |  | 2.0 |
Foreign currency translation | — |  |  | — |  |  | (5.9) |  |  | (4.8) |
Total change in other comprehensive loss | $ | 1.2 |  |  | $ | 3.6 |  |  | $ | (4.3) |  |  | $ | (8.8) |
Weighted average assumptions used in development of projected benefit obligation: |  |  |  |  |  |  |
Discount rate | 4.62 | % |  | 5.54 | % |  | 4.86 | % |  | 5.38 | %
Components of Net Periodic Benefit Cost |
| U.S. Defined Benefit Pension Plans |  | International Defined Benefit Pension Plans
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Components of net periodic benefit cost (income): |  |  |  |  |  |  |  |  |  |  |
Interest cost | $ | 3.7 |  |  | $ | 3.6 |  |  | $ | 1.7 |  |  | $ | 5.9 |  |  | $ | 6.2 |  |  | $ | 3.0 |
Expected return on plan assets | (2.2) |  |  | (2.5) |  |  | (2.8) |  |  | (5.7) |  |  | (5.5) |  |  | (5.1) |
Net amortization | 1.7 |  |  | 1.8 |  |  | 1.7 |  |  | 2.3 |  |  | 2.0 |  |  | 1.3 |
Net periodic benefit cost (income) | $ | 3.2 |  |  | $ | 2.9 |  |  | $ | 0.6 |  |  | $ | 2.5 |  |  | $ | 2.7 |  |  | $ | (0.8) |
Weighted average assumptions used in development of net periodic benefit cost (income): |  |  |  |  |  |  |  |  |  |  |
Weighted average discount rate - interest cost | 5.46 | % |  | 4.87 | % |  | 1.74 | % |  | 5.38 | % |  | 5.29 | % |  | 1.64 | %
Expected return on plan assets | 4.25 | % |  | 4.50 | % |  | 3.50 | % |  | 4.42 | % |  | 3.91 | % |  | 2.37 | %
Schedule of Other Information |
| U.S. Defined Benefit Pension Plans |  | International Defined Benefit Pension Plans
Other information: |  |  |
Plan asset allocations: |  |  |
Target for September 30, 2025: |  |  |
Equity securities | 19 | % |  | — | %
Debt securities | 76 | % |  | — | %
Real estate securities | 3 | % |  | — | %
Cash and cash equivalents | 2 | % |  | 15 | %
Insurance contracts | — | % |  | 85 | %
September 30, 2024 |  |  |
Equity securities | 19 | % |  | — | %
Debt securities | 74 | % |  | — | %
Real estate securities | 2 | % |  | — | %
Cash and cash equivalents | 5 | % |  | 15 | %
Insurance contracts | — | % |  | 85 | %
September 30, 2023 |  |  |
Equity securities | 18 | % |  | — | %
Debt securities | 75 | % |  | 5 | %
Real estate securities | 3 | % |  | — | %
Cash and cash equivalents | 4 | % |  | 11 | %
Insurance contracts | — | % |  | 84 | %
Expected company contributions in fiscal 2025 | $ | 2.7 |  |  | $ | 0.9 |
Expected future benefit payments: |  |  |
2025 | $ | 7.5 |  |  | $ | 7.3 |
2026 | 7.0 |  |  | 7.4 |
2027 | 6.9 |  |  | 7.4 |
2028 | 6.7 |  |  | 7.6 |
2029 | 6.5 |  |  | 7.8 |
2030 – 2034 | 28.4 |  |  | 40.5 |
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:
|  |  | Fair Value Hierarchy Level |  | U.S. Defined Benefit Pension Plans |  | International Defined Benefit Pension Plans
|  |  |  | 2024 |  | 2023 |  | 2024 |  | 2023
Cash and cash equivalents |  |  | Level 1 |  | $ | 2.6 |  |  | $ | 2.2 |  |  | $ | 21.9 |  |  | $ | 14.0 |
Insurance contracts |  |  | Level 3 |  | — |  |  | — |  |  | 119.5 |  |  | 104.3 |
Total assets in the fair value hierarchy |  |  |  |  | $ | 2.6 |  |  | $ | 2.2 |  |  | $ | 141.4 |  |  | $ | 118.3 |
Common collective trusts measured at net asset value |  |  |  |  |  |  |  |  |  |  |
Real estate |  |  |  |  | $ | 1.4 |  |  | $ | 1.8 |  |  | $ | — |  |  | $ | — |
Equities |  |  |  |  | 10.9 |  |  | 10.0 |  |  | — |  |  | — |
Fixed income |  |  |  |  | 42.4 |  |  | 40.1 |  |  | — |  |  | 6.5 |
Total common collective trusts measured at net asset value |  |  |  |  | 54.7 |  |  | 51.9 |  |  | — |  |  | 6.5 |
Total assets at fair value |  |  |  |  | $ | 57.3 |  |  | $ | 54.1 |  |  | $ | 141.4 |  |  | $ | 124.8 |

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