v3.22.2.2
RETIREMENT PLANS (Tables)
 12 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Pension Plans The defined benefit pension plans are valued using a September 30 measurement date.
 
U.S. Defined
Benefit Pension Plans		International
Defined
Benefit Pension Plans
 2022202120222021
Change in projected benefit obligation:
Benefit obligation at beginning of year$100.2 $109.8 $193.6 $193.7 
Interest cost1.7 1.5 3.0 2.6 
Actuarial gain(17.2)(4.1)(55.1)(2.9)
Benefits paid(7.0)(7.0)(7.5)(7.6)
Foreign currency translation— — (24.8)7.8 
Projected benefit obligation (“PBO”) at end of year$77.7 $100.2 $109.2 $193.6 
Accumulated benefit obligation (“ABO”) at end of year$77.7 $100.2 $109.2 $193.6 
Change in plan assets:
Fair value of plan assets at beginning of year$81.7 $81.5 $221.6 $209.9 
Actual return on plan assets(15.8)5.9 (61.2)2.1 
Employer contribution0.2 1.3 5.3 7.9 
Benefits paid(7.0)(7.0)(7.5)(7.6)
Foreign currency translation— — (29.3)9.3 
Fair value of plan assets at end of year$59.1 $81.7 $128.9 $221.6 
Overfunded (underfunded) status at end of year $(18.6)$(18.5)$19.7 $28.0 
The decrease in the PBO during fiscal 2022 was primarily driven by the increase in discount rates. These gains were partially offset by demographic experience losses, an update to the terminated vested retirement assumption, and the adoption of the updated mortality projection scale.
 
U.S. Defined
Benefit Pension Plans		International
Defined
Benefit Pension Plans
 2022202120222021
Information for pension plans with an ABO in excess of plan assets:
Accumulated benefit obligation$77.7 $100.2 $11.6 $16.9 
Fair value of plan assets59.1 81.7 — — 
Information for pension plans with a PBO in excess of plan assets:
Projected benefit obligation$77.7 $100.2 $11.6 $16.9 
Fair value of plan assets59.1 81.7 — — 
Amounts recognized in the Consolidated Balance Sheets consist of:
Non-current assets$— $— $31.3 $44.9 
Current liabilities(0.2)(0.2)(0.8)(0.9)
Non-current liabilities(18.4)(18.3)(10.8)(16.0)
Total amount accrued$(18.6)$(18.5)$19.7 $28.0 
Amounts recognized in AOCL consist of:
Actuarial loss$38.8 $39.2 $51.2 $51.4 
Prior service cost— — 2.1 2.7 
Total amount recognized$38.8 $39.2 $53.3 $54.1 
 U.S. Defined
Benefit Pension Plans		International
Defined
Benefit Pension Plans
 2022202120222021
Total change in other comprehensive loss attributable to:
Net gain (loss) during the period$(1.3)$6.6 $(11.1)$(0.6)
Reclassification to net income1.7 2.1 1.3 1.3 
Foreign currency translation— — 10.6 (2.0)
Total change in other comprehensive loss$0.4 $8.7 $0.8 $(1.3)
Weighted average assumptions used in development of projected benefit obligation:
Discount rate5.06 %2.37 %4.96 %1.90 %
Components of Net Periodic Benefit Cost
 U.S. Defined
Benefit Pension Plans		International
Defined Benefit Pension Plans
 202220212020202220212020
Components of net periodic benefit cost (income):
Interest cost$1.7 $1.5 $2.6 $3.0 $2.6 $2.7 
Expected return on plan assets(2.8)(3.4)(3.9)(5.1)(5.5)(6.9)
Net amortization1.7 2.1 1.8 1.3 1.3 1.0 
Net periodic benefit cost (income)$0.6 $0.2 $0.5 $(0.8)$(1.6)$(3.2)
Weighted average assumptions used in development of net periodic benefit cost (income):
Weighted average discount rate - interest cost1.74 %1.43 %2.44 %1.64 %1.26 %1.42 %
Expected return on plan assets3.50 %4.25 %5.00 %2.37 %2.45 %3.39 %
Schedule of Other Information
U.S. Defined
Benefit Pension Plans		International
Defined
Benefit Pension Plans
Other information:
Plan asset allocations:
Target for September 30, 2023:
Equity securities22 %25 %
Debt securities74 %44 %
Real estate securities4 %— %
Cash and cash equivalents— %1 %
Insurance contracts— %30 %
September 30, 2022
Equity securities17 %25 %
Debt securities75 %44 %
Real estate securities5 %— %
Cash and cash equivalents3 %1 %
Insurance contracts— %30 %
September 30, 2021
Equity securities20 %22 %
Debt securities73 %48 %
Real estate securities4 %— %
Cash and cash equivalents3 %— %
Insurance contracts— %30 %
Expected company contributions in fiscal 2023$0.2 $1.1 
Expected future benefit payments:
2023$7.4 $5.6 
20247.2 5.8 
20257.0 6.1 
20266.9 6.2 
20276.8 6.2 
2028 – 203230.5 33.8 
Fair Value of The Company's Pension Plan Asset
The following tables set forth the fair value of the Company’s pension plan assets, segregated by level within the fair value hierarchy:
U.S. Defined
Benefit Pension Plans		International
Defined
Benefit Pension Plans
Fair Value Hierarchy Level2022202120222021
Cash and cash equivalentsLevel 1$2.1 $2.9 $1.7 $0.2 
Insurance contractsLevel 3— — 38.1 66.7 
Total assets in the fair value hierarchy$2.1 $2.9 $39.8 $66.9 
Common collective trusts measured at net asset value
Real estate$2.8 $3.4 $— $— 
Equities10.0 16.0 32.6 48.3 
Fixed income44.2 59.4 56.5 106.4 
Total common collective trusts measured at net asset value57.0 78.8 89.1 154.7 
Total assets at fair value$59.1 $81.7 $128.9 $221.6