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EQUITY (Tables) | 3 Months Ended
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Dec. 30, 2023
Equity [Abstract] |
Summary of Changes in Equity | The following tables provide a summary of the changes in equity (deficit) 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 (Deficit)
Balance at September 30, 2023 | $ | 353.1 |  |  | $ | 490.9 |  |  | $ | (998.5) |  |  | $ | (112.8) |  |  |  |  |  |  | $ | (267.3) |
Net income (loss) | — |  |  | (80.5) |  |  | — |  |  | — |  |  |  |  |  |  | (80.5) |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | (8.9) |  |  |  |  |  |  | (8.9) |
Share-based compensation | 11.7 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 11.7 |
Dividends declared ($0.66 per share) | — |  |  | (38.0) |  |  | — |  |  | — |  |  |  |  |  |  | (38.0) |
Treasury share purchases | — |  |  | — |  |  | (3.1) |  |  | — |  |  |  |  |  |  | (3.1) |
Treasury share issuances | (15.2) |  |  | — |  |  | 15.9 |  |  | — |  |  |  |  |  |  | 0.7 |
Balance at December 30, 2023 | $ | 349.6 |  |  | $ | 372.4 |  |  | $ | (985.7) |  |  | $ | (121.7) |  |  |  |  |  |  | $ | (385.4) |
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 (Deficit)
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 |
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 September 30, 2023 |  | $ | (21.9) |  |  | $ | 20.1 |  |  | $ | (38.6) |  |  | $ | (72.4) |  |  | $ | (112.8) |
Other comprehensive income (loss) before reclassifications |  | 3.1 |  |  | (11.0) |  |  | (0.9) |  |  | — |  |  | (8.8) |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (2.0) |  |  | — |  |  | (2.1) |  |  | (4.1) |
Income tax benefit (expense) |  | — |  |  | 3.3 |  |  | — |  |  | 0.7 |  |  | 4.0 |
Net current period other comprehensive income (loss) |  | 3.1 |  |  | (9.7) |  |  | (0.9) |  |  | (1.4) |  |  | (8.9) |
Balance at December 30, 2023 |  | $ | (18.8) |  |  | $ | 10.4 |  |  | $ | (39.5) |  |  | $ | (73.8) |  |  | $ | (121.7) |
Balance at September 30, 2022 |  | $ | (28.9) |  |  | $ | 33.3 |  |  | $ | (79.7) |  |  | $ | (69.3) |  |  | $ | (144.6) |
Other comprehensive income (loss) before reclassifications |  | 7.2 |  |  | (6.4) |  |  | (26.8) |  |  | — |  |  | (26.0) |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (5.0) |  |  | — |  |  | (3.9) |  |  | (8.9) |
Income tax benefit (expense) |  | — |  |  | 2.9 |  |  | 6.4 |  |  | 1.0 |  |  | 10.3 |
Net current period other comprehensive income (loss) |  | 7.2 |  |  | (8.5) |  |  | (20.4) |  |  | (2.9) |  |  | (24.6) |
Balance at December 31, 2022 |  | $ | (21.7) |  |  | $ | 24.8 |  |  | $ | (100.2) |  |  | $ | (72.2) |  |  | $ | (169.3) |
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 |  |
| December 30, 2023 |  | December 31, 2022 |  |  |  |
Share-based compensation | $ | 16.0 |  |  | $ | 20.9 |  |  |  |  |
Related tax benefit recognized | 2.6 |  |  | 4.7 |  |  |  |  |
Share-Based Payment Arrangement, Stock Appreciation Right, Activity | Stock option activity was as follows:
| No. of Options |  | Wtd. Avg. Exercise Price |  | Wtd. Avg. Remaining Life |  | Aggregate Intrinsic Value
Awards outstanding at September 30, 2023 | 1,191,183 |  |  | $ | 76.64 |  |  | 6.6 years |  |
Granted | 1,287,402 |  |  | 53.46 |  |  |  |  |
Forfeited | (18,381) |  |  | 50.40 |  |  |  |  |
Awards outstanding at December 30, 2023 | 2,460,204 |  |  | 64.70 |  |  | 8.2 years |  | $ | 21.9 |
Exercisable | 399,223 |  |  | 66.24 |  |  | 1.9 years |  | 0.9 |
Schedule of Weighted Average Assumptions for Stock Options | The weighted average assumptions for awards granted in fiscal 2024 are as follows:
Expected volatility | 38.8 | %
Risk-free interest rate | 4.7 | %
Expected dividend yield | 4.1 | %
Expected life | 6.1 years
Schedule of Restricted Share-based Award Activity | Restricted share-based award activity (including restricted stock units and deferred stock units) was as follows:
| No. of Units |  | Wtd. Avg. Grant Date Fair Value per Unit
Awards outstanding at September 30, 2023 | 611,838 |  |  | $ | 89.10 |
Granted | 204,249 |  |  | 48.79 |
Vested | (11,620) |  |  | 79.38 |
Forfeited | (18,362) |  |  | 67.76 |
Awards outstanding at December 30, 2023 | 786,105 |  |  | 79.27 |
Schedule of Performance-based Award Activity | Performance-based award activity was as follows (based on target award amounts):
| No. of Units |  | Wtd. Avg. Grant Date Fair Value per Unit
Awards outstanding at September 30, 2023 | 544,790 |  |  | $ | 76.85 |
Granted | 11,146 |  |  | 44.86 |
Vested (a) | (181,791) |  |  | 59.88 |
Forfeited | (184,799) |  |  | 64.31 |
Awards outstanding at December 30, 2023 | 189,346 |  |  | 99.60 |
(a) Vested at a weighted average of 100% of the target performance share units granted.

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