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Income Taxes Income Taxes (Tables)

12 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) was calculated based upon the following components of income from continuing operations before income taxes:

		Fiscal
		2015				2014				2013
(Loss) income from continuing operations before income taxes:
United States		$	(630.8	)		$	9.2			$	(78.9	)
Outside the United States		190.0				204.0				197.2
Total (loss) income from continuing operations before taxes		$	(440.8	)		$	213.2			$	118.3

The components of income tax expense were as follows:

		Fiscal
		2015				2014				2013
Current:
Federal		$	(0.3	)		$	64.2			$	(32.5	)
Foreign		40.4				46.6				47.7
State		4.5				6.2				1.4
Total current		44.6				117.0				16.6
Deferred:
Federal		19.3				12.4				169.0
Foreign		11.2				(8.3		)		2.1
State		(3.5		)		(9.6		)		(0.4		)
Total deferred		27.0				(5.5		)		170.7
Income tax expense		$	71.6			$	111.5			$	187.3

Schedule of Effective Income Tax Rate Reconciliation

The differences between income taxes expected at the U.S. Federal statutory income tax rate of 35.0% and reported income tax expense are summarized as follows:

		Fiscal
		2015				2014				2013
Expected income tax expense at Federal statutory rate		$	(154.3	)		$	74.6			$	41.4
State and local income taxes - net of federal income tax benefit		(7.3		)		0.8				(32.2		)
Valuation allowance for deferred tax assets		328.6				(47.4		)		151.8
Preferred stock equity conversion feature		—				4.4				35.6
Residual tax on foreign earnings		24.8				90.9				(7.0		)
Foreign rate differential		(29.0		)		(23.1		)		(18.8		)
Foreign tax law changes		—				(7.7		)		—
State tax law and rate changes		(54.5		)		—				—
NOL adjustments		9.2				—				—
Gain on deconsolidation		(23.3		)		—				—
Non-deductible goodwill impairment		9.9				—				—
Permanent items		14.4				7.9				7.4
Exempt foreign income		(4.7		)		(5.7		)		(5.9		)
Unrecognized tax benefits		(1.5		)		2.2				4.1
Purchase accounting benefit		(22.8		)		—				—
Outside basis difference		(16.2		)		—				—
Capitalized transaction costs		—				1.0				5.6
Other		(1.7		)		13.6				5.3
Reported income tax expense		$	71.6			$	111.5			$	187.3
Effective tax rate		(16.2		)%		52.3		%		158.3		%

Schedule of Deferred Tax Assets and Liabilities

The following table summarizes the components of deferred income tax assets and liabilities:

		September 30,
		2015				2014
Deferred tax assets:
Employee benefits		$	84.2			$	84.3
Restructuring		4.1				7.0
Inventories and receivables		35.3				25.6
Marketing and promotional accruals		14.4				16.0
Net operating loss, credit and capital loss carry forwards		1,040.2				930.6
Prepaid royalty		6.3				6.6
Unrealized losses on mark-to-market securities		19.9				15.0
Insurance reserves and claim related adjustments		467.5				483.8
Insurance receivables		21.2				—
Outside basis difference		217.3				43.8
Investments		24.0				—
Other		139.5				101.2
Total deferred tax assets		2,073.9				1,713.9
Less: Valuation allowance		1,019.9				778.5
Net deferred tax assets		1,054.0				935.4
Deferred tax liabilities:
Property, plant and equipment		(15.1		)		(13.5		)
Unrealized gains		(23.8		)		(21.2		)
Intangibles		(855.9		)		(735.6		)
Value of business acquired		(65.0		)		(20.8		)
Deferred acquisition costs		(209.0		)		(104.2		)
Investments		(87.4		)		(338.3		)
Insurance reserves and claim related adjustments		(14.9		)		—
Redemption of long term debt		(11.8		)		(10.0		)
Other		(99.7		)		(38.4		)
Total deferred tax liabilities		(1,382.6		)		(1,282.0		)
Net deferred tax liability		$	(328.6	)		$	(346.6	)

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes changes to the Company’s UTB reserves, excluding related interest and penalties:

		Fiscal
		2015				2014				2013
Unrecognized tax benefits at beginning of year		$	12.6			$	13.8			$	5.9
Gross increase — tax positions in prior period		4.7				2.7				9.1
Gross decrease — tax positions in prior period		(1.9		)		(1.4		)		(0.3		)
Gross increase — tax positions in current period		1.8				0.8				0.5
Settlements		(0.8		)		(2.5		)		(0.1		)
Lapse of statutes of limitations		(0.3		)		(0.8		)		(1.3		)
Unrecognized tax benefits at end of year		$	16.1			$	12.6			$	13.8

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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