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Employee Benefit Obligations Employee Benefit Obligations (Tables) | 12 Months Ended
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Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract] |
Schedule of Changes in Projected Benefit Obligations | The following tables provide additional information on the Company’s pension and other postretirement benefit plans which principally relate to Spectrum Brands:
|  | Pension and Deferred Compensation Benefits |  | Other Benefits
|  | 2014 |  | 2013 |  | 2014 |  | 2013
Change in benefit obligation |  |  |  |  |  |  |  |
Benefit obligation, beginning of year |  | $ | 274.5 |  |  | $ | 260.7 |  |  | $ | 0.4 |  |  | $ | 0.6 |
Liabilities assumed through acquisitions |  | — |  |  | 14.7 |  |  | — |  |  | — |
Service cost |  | 3.5 |  |  | 3.0 |  |  | — |  |  | — |
Interest cost |  | 11.2 |  |  | 10.6 |  |  | — |  |  | — |
Actuarial loss (gain) |  | 15.3 |  |  | 1.1 |  |  | — |  |  | (0.1 | )
Participant contributions |  | — |  |  | 0.1 |  |  | — |  |  | — |
Curtailments |  | — |  |  | (1.5 | ) |  | — |  |  | (0.1 | )
Benefits paid |  | (11.5 | ) |  | (17.4 | ) |  | — |  |  | — |
Foreign currency exchange rate changes |  | (5.9 | ) |  | 3.2 |  |  | — |  |  | — |
Benefit obligation, end of year |  | $ | 287.1 |  |  | $ | 274.5 |  |  | $ | 0.4 |  |  | $ | 0.4 |
Change in plan assets |  |  |  |  |  |  |  |
Fair value of plan assets, beginning of year |  | $ | 190.8 |  |  | $ | 168.6 |  |  | $ | — |  |  | $ | — |
Assets acquired through acquisitions |  | — |  |  | 6.7 |  |  | — |  |  | — |
Actual return on plan assets |  | 13.8 |  |  | 18.3 |  |  | — |  |  | — |
Employer contributions |  | 13.8 |  |  | 12.9 |  |  | — |  |  | — |
Employee contributions |  | — |  |  | 0.1 |  |  | — |  |  | — |
Benefits paid |  | (11.5 | ) |  | (17.4 | ) |  | — |  |  | — |
Foreign currency exchange rate changes |  | (2.4 | ) |  | 1.6 |  |  | — |  |  | — |
Fair value of plan assets, end of year |  | $ | 204.5 |  |  | $ | 190.8 |  |  | $ | — |  |  | $ | — |
Accrued Benefit Cost / Funded Status |  | $ | (82.6 | ) |  | $ | (83.7 | ) |  | $ | (0.4 | ) |  | $ | (0.4 | )
Range of assumptions: |  |  |  |  |  |  |  |
Discount rate |  | 2.0% to 13.5% |  |  | 1.8% to 13.0% |  |  | 4.7 | % |  | 4.7 | %
Expected return on plan assets |  | 2.0% to 7.5% |  |  | 3.6% to 7.8% |  |  | N/A |  |  | N/A |
Rate of compensation increase |  | 2.3% to 5.5% |  |  | 2.3% to 5.5% |  |  | N/A |  |  | N/A |
Schedule of Expected Benefit Payments | The Company’s expected future pension benefit payments for Fiscal 2015 through its fiscal year 2024 are as follows:
Fiscal Year |  | Future Benefit Payments
2015 |  | $ | 13.8 |
2016 |  | 12.0 |
2017 |  | 12.2 |
2018 |  | 12.7 |
2019 |  | 13.7 |
2020 to 2024 |  | 72.1 |
Schedule of Allocation of Plan Assets | Below is a summary allocation of all pension plan assets as of the measurement date.
|  | Weighted Average Allocation
|  | Target |  | Actual
|  | 2014 |  | 2014 |  | 2013
Asset Category |  |  |  |  |  |
Equity securities |  | 0-60% |  |  | 27 | % |  | 52 | %
Fixed income securities |  | 0-40% |  |  | 28 | % |  | 19 | %
Other |  | 0-100% |  |  | 45 | % |  | 29 | %
|  | 100 | % |  | 100 | % |  | 100 | %
The following tables sets forth the fair value of the Company’s pension plan assets, segregated by level within the fair value hierarchy.
|  | September 30, 2014
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Defined Benefit Plan Assets: |  |  |  |  |  |  |  |
Equity Securities |  |  |  |  |  |  |  |
U.S. equity securities |  | $ | 19.9 |  |  | $ | 14.3 |  |  | $ | — |  |  | $ | 34.2 |
Foreign equity securities |  | 11.1 |  |  | 9.7 |  |  | — |  |  | 20.8 |
Debt Securities |  |  |  |  |  |  |  |
U.S. bonds |  | 4.0 |  |  | 20.6 |  |  | — |  |  | 24.6 |
Foreign bonds |  | 3.1 |  |  | 20.5 |  |  | — |  |  | 23.6 |
Foreign government bonds |  | — |  |  | 8.6 |  |  | — |  |  | 8.6 |
Real estate |  | 1.2 |  |  | 5.9 |  |  | — |  |  | 7.1 |
Life insurance contracts |  | — |  |  | 37.7 |  |  | — |  |  | 37.7 |
Other |  | — |  |  | 39.7 |  |  | — |  |  | 39.7 |
Foreign cash & cash equivalents |  | 6.4 |  |  | 1.8 |  |  | — |  |  | 8.2 |
Total defined benefit plan assets |  | $ | 45.7 |  |  | $ | 158.8 |  |  | $ | — |  |  | $ | 204.5 |
|  | September 30, 2013
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Defined Benefit Plan Assets: |  |  |  |  |  |  |  |
Equity Securities |  |  |  |  |  |  |  |
U.S. equity securities |  | $ | 18.5 |  |  | $ | 24.5 |  |  | $ | — |  |  | $ | 43.0 |
Foreign equity securities |  | 10.8 |  |  | 39.1 |  |  | — |  |  | 49.9 |
Debt Securities |  |  |  |  |  |  |  |  |
U.S. bonds |  | 2.3 |  |  | 19.7 |  |  | — |  |  | 22.0 |
Foreign bonds |  | — |  |  | 10.7 |  |  | — |  |  | 10.7 |
Foreign government bonds |  | — |  |  | 8.0 |  |  | — |  |  | 8.0 |
Real estate |  | 1.2 |  |  | 5.4 |  |  | — |  |  | 6.6 |
Life insurance contracts |  | — |  |  | 37.7 |  |  | — |  |  | 37.7 |
Other |  | — |  |  | 1.0 |  |  | — |  |  | 1.0 |
Foreign cash & cash equivalents |  | 6.6 |  |  | 5.3 |  |  | — |  |  | 11.9 |
Total defined benefit plan assets |  | $ | 39.4 |  |  | $ | 151.4 |  |  | $ | — |  |  | $ | 190.8 |
Components of Consolidated Net Periodic Benefit and Deferred Compensation Benefit Costs and Contributions Made |
|  | Pension and Deferred Compensation Benefits |  | Other Benefits
|  | Fiscal |  | Fiscal
|  | 2014 |  | 2013 |  | 2012 |  | 2014 |  | 2013 |  | 2012
Components of net periodic cost: |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 3.5 |  |  | $ | 3.4 |  |  | $ | 2.4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost |  | 11.2 |  |  | 10.6 |  |  | 11.4 |  |  | — |  |  | — |  |  | 0.1 |
Expected return on assets |  | (11.0 | ) |  | (9.7 | ) |  | (9.1 | ) |  | — |  |  | — |  |  | — |
Amortization of prior service cost |  | — |  |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | — |
Curtailment gain |  | (0.1 | ) |  | (0.8 | ) |  | — |  |  | — |  |  | — |  |  | — |
Recognized net actuarial loss(gain) |  | 1.5 |  |  | 2.1 |  |  | 0.9 |  |  | — |  |  | — |  |  | (0.1 | )
Net periodic cost |  | $ | 5.1 |  |  | $ | 5.6 |  |  | $ | 5.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
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