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LEASES (Tables)

12 Months Ended

Sep. 30, 2021

Leases [Abstract]

Schedule of Leases Recognized in Statement of Financial Position

The following is a summary of the Company’s leases recognized on the Company’s Consolidated Statement of Financial Position as of September 30, 2021 and 2020:

(in millions)						Line Item						2021						2020
Assets
Operating						Operating lease assets						$	56.5					$	58.0
Finance						Property, plant and equipment, net						84.2						89.1
Total leased assets												$	140.7					$	147.1
Liabilities
Current
Operating						Other current liabilities						$	17.4					$	15.1
Finance						Current portion of long-term debt						7.9						10.8
Long-term
Operating						Long-term operating lease liabilities						44.5						49.6
Finance						Long-term debt, net of current portion						94.0						92.9
Total lease liabilities												$	163.8					$	168.4

Schedule of Components of Lease Costs, Cash Flow Disclosures, Lease Terms and Discount Rate

The components of lease costs recognized in the Consolidated Statement of Income for the year ended September 30, 2021 and 2020 are as follows:

(in millions)						2021						2020
Operating lease cost						$	19.8					$	15.6
Finance lease cost
Amortization of leased assets						11.3						11.8
Interest on lease liability						5.3						5.7
Variable lease cost						9.8						9.8
Total lease cost						$	46.2					$	42.9

The following is a summary of the Company’s cash paid for amounts included in the measurement of lease liabilities recognized in the Consolidated Statement of Cash Flow, including supplemental non-cash activity related to operating leases, for the year ended September 30, 2021 and 2020:

(in millions)						2021						2020
Operating cash flow from operating leases						$	20.7					$	16.1
Operating cash flows from finance leases						5.4						5.7
Financing cash flows from finance leases						12.0						10.6
Supplemental non-cash flow disclosure
Acquisition of operating lease asset through lease obligations						15.3						23.6

The following is a summary of weighted-average lease term and discount rate at September 30, 2021 and 2020:

						2021						2020
Weighted average remaining lease term
Operating leases						4.6 years						5.5 years
Finance leases						10.4 years						10.4 years
Weighted average discount rate
Operating leases						4.3		%				4.6		%
Finance leases						4.9		%				5.3		%

Schedule of Future Lease Payments Under Finance Leases

At September 30, 2021, future lease payments under operating and finance leases were as follows:

(in millions)						Finance Leases						Operating Leases
2022						$	13.0					$	19.9
2023						13.7						18.2
2024						13.4						9.8
2025						11.9						7.0
2026						14.9						12.1
Thereafter						66.5						2.0
Total lease payments						133.4						69.0
Amount representing interest						(31.5)						(7.1)
Total minimum lease payments						$	101.9					$	61.9

Schedule of Future Lease Payments Under Operating Leases

At September 30, 2021, future lease payments under operating and finance leases were as follows:

(in millions)						Finance Leases						Operating Leases
2022						$	13.0					$	19.9
2023						13.7						18.2
2024						13.4						9.8
2025						11.9						7.0
2026						14.9						12.1
Thereafter						66.5						2.0
Total lease payments						133.4						69.0
Amount representing interest						(31.5)						(7.1)
Total minimum lease payments						$	101.9					$	61.9

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- Definition

Assets And Liabilities, Lessee

+ References

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- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980

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