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v3.19.2

Divestitures (Tables) | 9 Months Ended
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Jun. 30, 2019
Summary Of Components Of Income From Discontinued Operations, Net Of Tax |
|  | Three Month Periods Ended |  | Nine Month Periods Ended
(in millions) |  | June 30, 2019 |  | June 30, 2018 |  | June 30, 2019 |  | June 30, 2018
(Loss) income from discontinued operations before income taxes - GBL |  | $ | (5.7) |  | $ | (9.7) |  | $ | 975.7 |  | $ | 17.9
Income (loss) from discontinued operations before income taxes - GAC |  |  | 0.8 |  |  | 37.5 |  |  | (114.7) |  |  | 55.2
Income from discontinued operations before income taxes - HRG Insurance Operations |  |  | — |  |  | — |  |  | — |  |  | 476.4
(Loss) income from discontinued operations before income taxes |  |  | (4.9) |  |  | 27.8 |  |  | 861.0 |  |  | 549.5
Income tax (benefit) expense from discontinued operations |  |  | (3.7) |  |  | (6.0) |  |  | 161.9 |  |  | 23.0
(Loss) income from discontinued operations, net of tax |  |  | (1.2) |  |  | 33.8 |  |  | 699.1 |  |  | 526.5
Income from discontinued operations, net of tax attributable to noncontrolling interest |  |  | — |  |  | 11.1 |  |  | — |  |  | 32.8
(Loss) income from discontinued operations, net of tax attributable to controlling interest |  | $ | (1.2) |  | $ | 22.7 |  | $ | 699.1 |  | $ | 493.7
Summary Of Effect Change In HPC And Reclassification Of GAC |
|  | Three Months Period Ended June 30, 2018
(in millions) |  | As Previously Reported |  | Effect of HPC Reclassification From Held For Sale to Held and Used |  | After HPC Reclassification |  | Effect of GAC Reclassification From Held and Used to Held For Sale |  | After GAC Reclassification
Net sales |  | $ | 945.5 |  | $ | 254.4 |  | $ | 1,199.9 |  | $ | 170.5 |  | $ | 1,029.4
Cost of goods sold |  |  | 590.9 |  |  | 172.4 |  |  | 763.3 |  |  | 96.6 |  |  | 666.7
Gross profit |  |  | 354.6 |  |  | 82.0 |  |  | 436.6 |  |  | 73.9 |  |  | 362.7
Operating expenses |  |  | 228.3 |  |  | 63.1 |  |  | 291.4 |  |  | 35.5 |  |  | 255.9
Operating income |  |  | 126.3 |  |  | 18.9 |  |  | 145.2 |  |  | 38.4 |  |  | 106.8
Interest expense |  |  | 63.5 |  |  | 0.3 |  |  | 63.8 |  |  | 0.5 |  |  | 63.3
Other non-operating (income) expense, net |  |  | (2.3) |  |  | 1.5 |  |  | (0.8) |  |  | 0.4 |  |  | (1.2)
Income from operations before income taxes |  | $ | 65.1 |  | $ | 17.1 |  | $ | 82.2 |  | $ | 37.5 |  | $ | 44.7
|  | Nine Months Period Ended June 30, 2018
(in millions) |  | As Previously Reported |  | Effect of HPC Reclassification From Held For Sale to Held and Used |  | After HPC Reclassification |  | Effect of GAC Reclassification From Held and Used to Held For Sale |  | After GAC Reclassification
Net sales |  | $ | 2,358.1 |  | $ | 827.5 |  | $ | 3,185.6 |  | $ | 351.3 |  | $ | 2,834.3
Cost of goods sold |  |  | 1,494.4 |  |  | 559.2 |  |  | 2,053.6 |  |  | 206.7 |  |  | 1,846.9
Gross profit |  |  | 863.7 |  |  | 268.3 |  |  | 1,132.0 |  |  | 144.6 |  |  | 987.4
Operating expenses |  |  | 682.9 |  |  | 202.7 |  |  | 885.6 |  |  | 87.8 |  |  | 797.8
Operating income |  |  | 180.8 |  |  | 65.6 |  |  | 246.4 |  |  | 56.8 |  |  | 189.6
Interest expense |  |  | 206.6 |  |  | 1.3 |  |  | 207.9 |  |  | 1.5 |  |  | 206.4
Other non-operating (income) expense, net |  |  | (4.6) |  |  | 2.7 |  |  | (1.9) |  |  | 0.1 |  |  | (2.0)
(Loss) income from operations before income taxes |  | $ | (21.2) |  | $ | 61.6 |  | $ | 40.4 |  | $ | 55.2 |  | $ | (14.8)
Global Battery And Lighting [Member] |
Summary Of Assets And Liabilities As Held For Sale |
(in millions) |  | September 30, 2018
Assets |  |  |
Trade receivables, net |  | $ | 99.3
Other receivables |  |  | 17.9
Inventories |  |  | 127.8
Prepaid expenses and other current assets |  |  | 23.0
Property, plant and equipment, net |  |  | 160.5
Deferred charges and other |  |  | 13.4
Goodwill |  |  | 226.6
Intangible assets, net |  |  | 304.0
Total assets of business held for sale |  | $ | 972.5
Liabilities |  |  |
Current portion of long-term debt |  |  | 6.3
Accounts payable |  |  | 124.1
Accrued wages and salaries |  |  | 25.0
Other current liabilities |  |  | 82.6
Long-term debt, net of current portion |  |  | 45.0
Deferred income taxes |  |  | 20.9
Other long-term liabilities |  |  | 60.6
Total liabilities of business held for sale |  | $ | 364.5
Summary Of Components Of Income From Discontinued Operations Before Income Taxes |
|  | Three Month Period Ended |  | Nine Month Period Ended
(in millions) |  | June 30, 2019 |  | June 30, 2018 |  | June 30, 2019 |  | June 30, 2018
Net sales |  | $ | — |  | $ | 187.6 |  | $ | 249.0 |  | $ | 645.7
Cost of goods sold |  |  | — |  |  | 118.7 |  |  | 164.6 |  |  | 410.0
Gross profit |  |  | — |  |  | 68.9 |  |  | 84.4 |  |  | 235.7
Operating expenses |  |  | — |  |  | 63.6 |  |  | 57.0 |  |  | 177.4
Operating income |  |  | — |  |  | 5.3 |  |  | 27.4 |  |  | 58.3
Interest expense |  |  | — |  |  | 13.8 |  |  | 23.3 |  |  | 39.0
Other non-operating expense, net |  |  | — |  |  | 1.2 |  |  | 0.5 |  |  | 1.4
Loss (Gain) on sale |  |  | 5.7 |  |  | — |  |  | (990.6) |  |  | —
Reclassification of accumulated other comprehensive income |  |  | — |  |  | — |  |  | 18.5 |  |  | —
(Loss) income from discontinued operations before income taxes |  | $ | (5.7) |  | $ | (9.7) |  | $ | 975.7 |  | $ | 17.9
Global Auto Care [Member] |
Summary Of Assets And Liabilities As Held For Sale |
(in millions) |  | September 30, 2018
Assets |  |  |
Trade receivables, net |  | $ | 55.2
Other receivables |  |  | 4.1
Inventories |  |  | 72.8
Prepaid expenses and other current assets |  |  | 2.9
Property, plant and equipment, net |  |  | 58.2
Deferred charges and other |  |  | 10.7
Goodwill |  |  | 841.8
Intangible assets, net |  |  | 384.4
Total assets of business held for sale |  | $ | 1,430.1
Liabilities |  |  |
Current portion of long-term debt |  |  | 0.4
Accounts payable |  |  | 50.6
Accrued wages and salaries |  |  | 3.2
Other current liabilities |  |  | 13.3
Long-term debt, net of current portion |  |  | 31.5
Deferred income taxes |  |  | 71.6
Other long-term liabilities |  |  | 2.5
Total liabilities of business held for sale |  | $ | 173.1
Summary Of Components Of Income From Discontinued Operations Before Income Taxes |
|  | Three Month Period Ended |  | Nine Month Period Ended
(in millions) |  | June 30, 2019 |  | June 30, 2018 |  | June 30, 2019 |  | June 30, 2018
Net sales |  | $ | — |  | $ | 175.2 |  | $ | 87.7 |  | $ | 362.4
Cost of goods sold |  |  | — |  |  | 101.3 |  |  | 52.5 |  |  | 217.8
Gross profit |  |  | — |  |  | 73.9 |  |  | 35.2 |  |  | 144.6
Operating expenses |  |  | — |  |  | 35.5 |  |  | 35.7 |  |  | 87.8
Operating income (loss) |  |  | — |  |  | 38.4 |  |  | (0.5) |  |  | 56.8
Interest expense |  |  | — |  |  | 0.5 |  |  | 0.7 |  |  | 1.5
Other non-operating expense, net |  |  | — |  |  | 0.4 |  |  | 0.2 |  |  | 0.1
Write-down of assets of business held for sale to fair value less cost to sell |  |  | (0.8) |  |  | — |  |  | 110.0 |  |  | —
Reclassification of accumulated other comprehensive income |  |  | — |  |  | — |  |  | 3.3 |  |  | —
Income (loss) from discontinued operations before income taxes |  | $ | 0.8 |  | $ | 37.5 |  | $ | (114.7) |  | $ | 55.2
HRG Insurance Operations [Member] |
Summary Of Components Of Income From Discontinued Operations Before Income Taxes |
(in millions) |  | Two Months Ended November 30, 2017
Revenues |  |  |
Insurance premiums |  | $ | 6.8
Net investment income |  |  | 181.9
Net investment gains |  |  | 154.8
Other |  |  | 35.1
Total revenues |  |  | 378.6
Operating costs and expenses |  |  |
Benefits and other changes in policy reserves |  |  | 241.3
Selling, acquisition, operating and general expenses |  |  | 52.8
Amortization of intangibles |  |  | 35.8
Total operating costs and expenses |  |  | 329.9
Operating income |  |  | 48.7
Interest expense and other |  |  | 4.0
Write-down of assets of business held for sale to fair value less cost to sell |  |  | (14.2)
Reclassification of accumulated other comprehensive income |  |  | 445.9
Income from discontinued operations before income taxes |  | $ | 476.4

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