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LEASES (Tables) | 12 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Schedule of Leases Recognized in Statement of Financial Position | The following is a summary of leases recognized on the Consolidated Statements of Financial Position as of September 30, 2024 and 2023:
(in millions) |  | Line Item |  | 2024 |  | 2023
Assets |  |  |  |  |  |
Operating |  | Operating lease assets |  | $ | 101.9 |  |  | $ | 110.8 |
Finance |  | Property, plant and equipment, net |  | 61.0 |  |  | 66.2 |
Total lease assets |  |  |  | $ | 162.9 |  |  | $ | 177.0 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Other current liabilities |  | $ | 31.3 |  |  | $ | 26.9 |
Finance |  | Current portion of long-term debt |  | 9.4 |  |  | 8.6 |
Long-term |  |  |  |  |  |
Operating |  | Long-term operating lease liabilities |  | 87.0 |  |  | 95.6 |
Finance |  | Long-term debt, net of current portion |  | 72.2 |  |  | 77.8 |
Total lease liabilities |  |  |  | $ | 199.9 |  |  | $ | 208.9 |
Schedule of Components of Lease Costs, Cash Flow Disclosures, Lease Terms and Discount Rate | The components of lease costs recognized in the Consolidated Statements of Income for the year ended September 30, 2024, 2023, and 2022 are as follows:
(in millions) |  | 2024 |  | 2023 |  | 2022
Operating lease cost |  | $ | 34.6 |  |  | $ | 37.0 |  |  | $ | 26.3 |
Finance lease cost |  |  |  |  |  |
Amortization of leased assets |  | 10.3 |  |  | 10.2 |  |  | 10.5 |
Interest on lease liability |  | 4.5 |  |  | 4.8 |  |  | 5.2 |
Variable lease cost |  | 13.0 |  |  | 12.4 |  |  | 10.8 |
Total lease cost |  | $ | 62.4 |  |  | $ | 64.4 |  |  | $ | 52.8 |
The following is a summary of cash paid for amounts included in the measurement of lease liabilities recognized in the Consolidated Statements of Cash Flow, including supplemental non-cash activity related to operating leases, for the year ended September 30, 2024, 2023, and 2022:
(in millions) |  | 2024 |  | 2023 |  | 2022
Operating cash flow from operating leases |  | $ | 35.5 |  |  | $ | 30.3 |  |  | $ | 25.3 |
Operating cash flows from finance leases |  | 4.5 |  |  | 4.8 |  |  | 5.1 |
Financing cash flows from finance leases |  | 10.1 |  |  | 9.5 |  |  | 8.9 |
Supplemental non-cash flow disclosure |  |  |  |  |  |
Acquisition of operating lease asset through lease obligations |  | 25.2 |  |  | 66.9 |  |  | 30.4 |
The following is a summary of weighted-average lease term and discount rate at September 30, 2024 and 2023:
|  | 2024 |  | 2023
Weighted average remaining lease term |  |  |  |
Operating leases |  | 4.0 years |  | 4.6 years
Finance leases |  | 8.0 years |  | 8.7 years
Weighted average discount rate |  |  |  |
Operating leases |  | 6.0 | % |  | 5.5 | %
Finance leases |  | 5.4 | % |  | 5.3 | %
Schedule of Future Lease Payments Under Finance Leases | At September 30, 2024, future lease payments under operating and finance leases were as follows:
(in millions) |  | Finance Leases |  | Operating Leases
2025 |  | $ | 13.1 |  |  | $ | 37.3 |
2026 |  | 13.6 |  |  | 32.0 |
2027 |  | 13.4 |  |  | 29.6 |
2028 |  | 13.1 |  |  | 25.1 |
2029 |  | 12.7 |  |  | 7.4 |
Thereafter |  | 33.9 |  |  | 1.8 |
Total lease payments |  | 99.8 |  |  | 133.2 |
Amount representing interest |  | (18.2) |  |  | (14.9) |
Total minimum lease payments |  | $ | 81.6 |  |  | $ | 118.3 |
Schedule of Future Lease Payments Under Operating Leases | At September 30, 2024, future lease payments under operating and finance leases were as follows:
(in millions) |  | Finance Leases |  | Operating Leases
2025 |  | $ | 13.1 |  |  | $ | 37.3 |
2026 |  | 13.6 |  |  | 32.0 |
2027 |  | 13.4 |  |  | 29.6 |
2028 |  | 13.1 |  |  | 25.1 |
2029 |  | 12.7 |  |  | 7.4 |
Thereafter |  | 33.9 |  |  | 1.8 |
Total lease payments |  | 99.8 |  |  | 133.2 |
Amount representing interest |  | (18.2) |  |  | (14.9) |
Total minimum lease payments |  | $ | 81.6 |  |  | $ | 118.3 |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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