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DERIVATIVES (Tables)

12 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Impact of Effective and Ineffective Portions of Designated Hedges and Gain (Loss)

The following table summarizes the impact of the effective and ineffective portions of designated hedges and the gain or loss recognized in the Consolidated Statement of Income for the years ended September 30, 2023, 2022 and 2021:

						Gain (Loss) in OCI																		Reclassified to Continuing Operations
(in millions)						2023						2022						2021						Line Item						2023						2022						2021
Foreign exchange contracts						$	0.3					$	0.2					$	0.1					Net sales						$	0.2					$	0.1					$	0.1
Foreign exchange contracts						(34.8)						30.9						(2.0)						Cost of goods sold						(12.4)						20.1						(9.3)
Total						$	(34.5)					$	31.1					$	(1.9)											$	(12.2)					$	20.2					$	(9.2)

Summary of Gain (Loss) on Derivatives Not Designated as Hedges

The following table summarizes the gain or loss associated with derivative contracts not designated as hedges in the Consolidated Statements of Income for the years ended September 30, 2023, 2022 and 2021.

(in millions)						Line Item						2023						2022						2021
Foreign exchange contracts						Other non-operating expense (income)						$	(14.3)					$	25.6					$	(3.2)

Schedule of Fair Value of Outstanding Derivative Instruments

The fair value of the Company’s outstanding derivative instruments in the Consolidated Statements of Financial Position are as follows:

(in millions)						Line Item						2023						2022
Derivative Assets
Foreign exchange contracts - designated as hedge						Other receivables						$	1.4					$	14.4
Foreign exchange contracts - designated as hedge						Deferred charges and other						0.1						0.4
Foreign exchange contracts - not designated as hedge						Other receivables						1.8						7.4
Total Derivative Assets												$	3.3					$	22.2
Derivative Liabilities
Foreign exchange contracts - designated as hedge						Accounts payable						$	8.1					$	—
Foreign exchange contracts - designated as hedge						Other long term liabilities						—						1.0
Foreign exchange contracts - not designated as hedge						Accounts payable						0.9						5.0
Total Derivative Liabilities												$	9.0					$	6.0

Schedule of Net Investment Hedge Recognized in Other Comprehensive Income

The following summarizes the gain (loss) from the net investment hedge recognized in Other Comprehensive Income for the year ended September 30, 2023, 2022 and 2021, pre-tax:

Gain (Loss) in OCI (in millions)						2023						2022						2021
Net investment hedge						$	(31.7)					$	75.8					$	6.2

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

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-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in net investment hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4CCC
-Publisher FASB
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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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