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v3.25.1

DEBT | 6 Months Ended
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Mar. 30, 2025
Debt Disclosure [Abstract] |
DEBT | DEBT Debt with external lenders consist of the following:
|  | March 30, 2025 |  | September 30, 2024
(in millions) |  | Amount |  | Rate |  | Amount |  | Rate
Revolver Facility, variable rate, expiring October 19, 2028 |  | $ | 83.0 |  |  | 6.2 | % |  | $ | — |  |  | — | %
3.375% Exchangeable Notes, due June 1, 2029 |  | 350.0 |  |  | 3.4 | % |  | 350.0 |  |  | 3.4 | %
5.00% Notes, due October 1, 2029 |  | 4.9 |  |  | 5.0 | % |  | 4.9 |  |  | 5.0 | %
5.50% Notes, due July 15, 2030 |  | 13.2 |  |  | 5.5 | % |  | 13.2 |  |  | 5.5 | %
3.875% Notes, due March 15, 2031 |  | 128.0 |  |  | 3.9 | % |  | 128.0 |  |  | 3.9 | %
Obligations under finance leases |  | 77.8 |  |  | 5.4 | % |  | 81.6 |  |  | 5.4 | %
Total debt |  | 656.9 |  |  |  |  | 577.7 |  |  |
Debt issuance costs |  | (15.4) |  |  |  |  | (16.9) |  |  |
Less current portion |  | (9.5) |  |  |  |  | (9.4) |  |  |
Long-term debt, net of current portion |  | $ | 632.0 |  |  |  |  | $ | 551.4 |  |  |
Credit Agreement As of March 30, 2025, there is $83.0 million of borrowings outstanding under the Company’s $500 million revolving credit facility (the “Revolver Facility”) under the Second Amended and Restated Credit Agreement, dated as of October 19, 2023, by and among the Company, SB/RH Holdings, LLC, Royal Bank of Canada, as the administrative agent, and the lenders party thereto, with a borrowing availability under the Revolver Facility of $408.6 million, net outstanding letters of credit of $8.4 million. 3.375% Exchangeable Notes due June 1, 2029 Effective February 2025, the Company increased its quarterly dividend rate to $0.47 per share. As such, the exchange rate for the Company's 3.375% Exchangeable Notes due June 1, 2029 was adjusted to 8.2158 shares of common stock per $1,000 principal amount of notes (which is equal to an initial conversion price of approximately $121.72 per share of the Company's common stock), subject to further adjustment as set forth in the indenture. Concurrently, the strike price with the associated Capped Calls was updated to approximately $121.72 per share, subject to certain additional adjustments, corresponding to the change in exchange price of the Exchangeable Notes, and the cap price was updated to approximately $159.17 per share, subject to certain additional adjustments.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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