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DIVESTITURES (Tables)
 12 Months Ended
Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Summary of Components of Income from Discontinued Operations, Net of Tax
The following table summarizes the components of Income from Discontinued Operations, Net of Tax in the accompanying Consolidated Statement of Income for the years ended September 30, 2022, 2021, and 2020:
(in millions)
202220212020
Income from discontinued operations before income taxes - HHI$253.3 $288.2 $227.8 
(Loss) income from discontinued operations before income taxes - Other(3.8)(7.3)4.1 
Interest on corporate debt allocated to discontinued operations46.4 44.5 47.3 
Income from discontinued operations before income taxes203.1 236.4 184.6 
Income tax expense from discontinued operations53.4 62.1 33.7 
Income from discontinued operations, net of tax149.7 174.3 150.9 
Income (loss) from discontinued operations, net of tax attributable to noncontrolling interest0.9 (0.2)0.4 
Income from discontinued operations, net of tax attributable to controlling interest$148.8 $174.5 $150.5 
Summary of Assets and Liabilities Held for Sale
The following table summarizes the assets and liabilities of the HHI disposal group classified as held for sale as of September 30, 2022 and 2021:
(in millions)
20222021
Assets
Trade receivables, net$135.5 $130.2 
Other receivables6.7 12.1 
Inventories327.1 332.2 
Prepaid expenses and other current assets33.1 39.1 
Property, plant and equipment, net166.6 143.5 
Operating lease assets63.6 55.5 
Deferred charges and other11.7 11.7 
Goodwill698.6 710.9 
Intangible assets, net373.8 374.8 
Total assets of business held for sale$1,816.7 $1,810.0 
Liabilities
Current portion of long-term debt$1.4 $1.5 
Accounts payable224.7 206.6 
Accrued wages and salaries32.7 41.7 
Other current liabilities79.9 75.9 
Long-term debt, net of current portion54.6 54.4 
Long-term operating lease liabilities46.9 48.6 
Deferred income taxes10.1 7.8 
Other long-term liabilities13.4 17.8 
Total liabilities of business held for sale$463.7 $454.3 
Summary of Components of Income from Discontinued Operations Before Income Taxes
The following table summarizes the components of income from discontinued operations before income taxes associated with the HHI divestiture in the accompanying Consolidated Statements of Operations for the years ended September 30, 2022, 2021 and 2020:
(in millions)
202220212020
Net sales$1,652.3 $1,615.8 $1,342.1 
Cost of goods sold1,096.3 1,025.3 850.3 
Gross profit556.0 590.5 491.8 
Operating expenses298.0 293.1 257.1 
Operating income258.0 297.4 234.7 
Interest expense3.4 3.4 3.5 
Other non-operating expense, net1.3 5.8 3.4 
Income from discontinued operations before income taxes$253.3 $288.2 $227.8 
Summary of Significant Non-cash Items and Capital Expenditures of Discontinued Operations
The following table presents significant non-cash items and capital expenditures of discontinued operations from the HHI divestiture:
(in millions)
202220212020
Depreciation and amortization$— $31.1 $33.9 
Share and incentive based compensation$5.3 $0.8 $6.0 
Purchases of property, plant and equipment$23.9 $22.8 $16.9 
Summary of Transaction Service Agreements The following table summarizes the TSA income and expenses during the years ended September 30, 2021 and 2020:
(in millions)20212020
TSA income$0.9 $9.6 
TSA expense2.6 13.5 
Net TSA (loss) income $(1.7)$(3.9)