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DIVESTITURES (Tables)
 3 Months Ended
Jan. 01, 2023
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 Condensed Consolidated Statements of Income for the three month periods ended January 1, 2023 and January 2, 2022:
Three Month Periods Ended
(in millions)January 1, 2023January 2, 2022
Income from discontinued operations before income taxes – HHI$45.0 $60.0 
Loss from discontinued operations before income taxes – Other(0.6)(0.3)
Interest on corporate debt allocated to discontinued operations16.3 10.4 
Income from discontinued operations before income taxes28.1 49.3 
Income tax expense from discontinued operations8.6 10.5 
Income from discontinued operations, net of tax19.5 38.8 
Income from discontinued operations, net of tax attributable to noncontrolling interest0.1 0.4 
Income from discontinued operations, net of tax attributable to controlling interest$19.4 $38.4 
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 January 1, 2023 and September 30, 2022:
(in millions)
January 1, 2023September 30, 2022
Assets
Trade receivables, net$111.3 $135.5 
Other receivables4.9 6.7 
Inventories340.0 327.1 
Prepaid expenses and other current assets32.6 33.1 
Property, plant and equipment, net171.1 166.6 
Operating lease assets64.0 63.6 
Deferred charges and other12.5 11.7 
Goodwill700.5 698.6 
Intangible assets, net374.2 373.8 
Total assets of business held for sale$1,811.1 $1,816.7 
Liabilities
Current portion of long-term debt$1.4 $1.4 
Accounts payable206.2 224.7 
Accrued wages and salaries18.7 32.7 
Other current liabilities78.5 79.9 
Long-term debt, net of current portion54.2 54.6 
Long-term operating lease liabilities44.7 46.9 
Deferred income taxes9.8 10.1 
Other long-term liabilities13.5 13.4 
Total liabilities of business held for sale$427.0 $463.7 
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 Condensed Consolidated Statements of Operations for the three month periods ended January 1, 2023 and January 2, 2022:
Three Month Periods Ended
(in millions)
January 1, 2023January 2, 2022
Net sales$362.9 $374.7 
Cost of goods sold244.8 245.0 
Gross profit118.1 129.7 
Operating expenses71.1 67.2 
Operating income47.0 62.5 
Interest expense0.8 0.9 
Other non-operating expense, net1.2 1.6 
Income from discontinued operations before income taxes$45.0 $60.0 
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 for the three month periods ended January 1, 2023 and January 2, 2022:
Three Month Periods Ended
(in millions)
January 1, 2023January 2, 2022
Share based compensation$0.9 $2.8 
Purchases of property, plant and equipment3.6 5.0