EQUITY (Tables)
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12 Months Ended |
Sep. 30, 2022 |
Equity [Abstract] |
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Schedule of Authorized and Issued Shares |
Authorized and issued shares consisted of the following (in millions): | | | | | | | | | | | | | September 30, | | 2022 | | 2021 | | | Preferred shares, no par value: | | | | Authorized | 0.2 shares | | 0.2 shares | Issued | 0.0 shares | | 0.0 shares | Common shares, no par value, $0.01 stated value per share: | | | | Authorized | 100.0 shares | | 100.0 shares | Issued | 68.1 shares | | 68.1 shares |
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Schedule of Accumulated Other Comprehensive Loss |
Changes in AOCL by component were as follows for the fiscal years ended September 30: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign Currency Translation Adjustments | | Net Unrealized Gain (Loss) On Derivative Instruments | | Net Unrealized Loss On Securities | | Net Unrealized Gain (Loss) in Pension and Other Post- Retirement Benefits | | | | Accumulated Other Comprehensive Income (Loss) | Balance at September 30, 2019 | | $ | (17.4) | | | $ | (8.1) | | | $ | — | | | $ | (68.4) | | | | | $ | (93.9) | | Other comprehensive income (loss) before reclassifications | | 10.5 | | | (19.7) | | | — | | | (12.9) | | | | | (22.1) | | Amounts reclassified from accumulated other comprehensive net income (loss) | | 0.8 | | | 10.1 | | | — | | | 0.3 | | | | | 11.2 | | Income tax benefit (expense) | | — | | | 2.5 | | | — | | | 3.2 | | | | | 5.7 | | Net current period other comprehensive income (loss) | | 11.3 | | | (7.1) | | | — | | | (9.4) | | | | | (5.2) | | Balance at September 30, 2020 | | (6.2) | | | (15.1) | | | — | | | (77.8) | | | | | (99.1) | | Other comprehensive income (loss) before reclassifications | | 4.5 | | | 26.8 | | | (3.1) | | | 6.9 | | | | | 35.1 | | Amounts reclassified from accumulated other comprehensive net income (loss) | | — | | | 7.3 | | | — | | | 0.4 | | | | | 7.7 | | Income tax benefit (expense) | | — | | | (8.9) | | | 0.8 | | | (1.9) | | | | | (10.0) | | Net current period other comprehensive income (loss) | | 4.5 | | | 25.2 | | | (2.3) | | | 5.4 | | | | | 32.8 | | Balance at September 30, 2021 | | (1.7) | | | 10.2 | | | (2.3) | | | (72.5) | | | | | (66.4) | | Other comprehensive income (loss) before reclassifications | | (27.2) | | | 40.1 | | | (102.0) | | | (7.3) | | | | | (96.4) | | Amounts reclassified from accumulated other comprehensive net income (loss) | | — | | | (9.1) | | | — | | | 11.7 | | | | | 2.6 | | Income tax benefit (expense) | | — | | | (7.9) | | | 24.6 | | | (1.1) | | | | | 15.6 | | Net current period other comprehensive income (loss) | | (27.2) | | | 23.1 | | | (77.4) | | | 3.3 | | | | | (78.2) | | Balance at September 30, 2022 | | $ | (28.9) | | | $ | 33.3 | | | $ | (79.7) | | | $ | (69.3) | | | | | $ | (144.6) | |
The sum of the components may not equal due to rounding.
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Schedule of Share-Based Awards Granted |
The following is a summary of the share-based awards granted during each of the periods indicated: | | | | | | | | | | | | | | | | | | | Year Ended September 30, | | 2022 | | 2021 | | 2020 | Employees | | | | | | Options | — | | | 183,553 | | | 37,255 | | Restricted stock units | 228,558 | | | 70,936 | | | 119,726 | | | | | | | | Performance units | 105,756 | | | 1,903 | | | 37,570 | | Non-Employee Directors | | | | | | Restricted and deferred stock units | 20,015 | | | 9,173 | | | 18,948 | | | | | | | | Total share-based awards | 354,329 | | | 265,565 | | | 213,499 | | | | | | | | Aggregate fair value at grant dates | $ | 41.2 | | | $ | 30.2 | | | $ | 21.5 | |
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Schedule of Share-Based Compensation |
Total share-based compensation was as follows for each of the periods indicated: | | | | | | | | | | | | | | | | | | | Year Ended September 30, | | 2022 | | 2021 | | 2020 | | | Share-based compensation | $ | 30.3 | | | $ | 40.6 | | | $ | 57.9 | | Related tax benefit recognized | 4.9 | | | 7.4 | | | 14.6 | |
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Schedule of Aggregate Stock Option Activity |
Stock option activity was as follows: | | | | | | | | | | | | | No. of Options | | Wtd. Avg. Exercise Price | Awards outstanding at September 30, 2021 | 568,191 | | | $ | 118.38 | | | | | | | | | | Forfeited | (39,720) | | | 236.53 | | Awards outstanding at September 30, 2022 | 528,471 | | | 110.86 | | Exercisable | 388,002 | | | 65.36 | |
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Summary of Certain Information Pertaining to Stock Option Awards Outstanding and Exercisable |
The following summarizes certain information pertaining to stock option awards outstanding and exercisable at September 30, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Awards Outstanding | | Awards Exercisable | Range of Exercise Price | | No. of Options | | Wtd. Avg. Remaining Life | | Wtd. Avg. Exercise Price | | No. of Options | | Wtd. Avg. Remaining Life | | Wtd. Avg. Exercise Price | $59.62 - $64.55 | | 380,932 | | | 2.85 | | 62.18 | | | 380,932 | | | 2.85 | | 62.18 | | $236.53 - $236.53 | | 147,539 | | | 8.35 | | 236.53 | | | 7,070 | | | 8.35 | | 236.53 | | | | | | | | | | | | | | | | | 528,471 | | | 4.39 | | 110.86 | | | 388,002 | | | 2.95 | | 65.36 | |
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Schedule of Intrinsic Value of Stock Option Awards Outstanding and Exercisable |
The intrinsic values of the stock option awards outstanding and exercisable at September 30, 2022 were zero.
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Schedule of Restricted Share-Based Award Activity |
Restricted share-based award activity (including restricted stock units and deferred stock units) was as follows: | | | | | | | | | | | | | No. of Shares | | Wtd. Avg. Grant Date Fair Value per Share | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Awards outstanding at September 30, 2021 | 375,825 | | | 124.50 | | Granted | 248,573 | | | 109.10 | | Vested | (246,846) | | | 75.38 | | Forfeited | (56,977) | | | 165.01 | | Awards outstanding at September 30, 2022 | 320,575 | | | 143.19 | |
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Schedule of Performance-Based Award Activity |
Performance-based award activity was as follows (based on target award amounts): | | | | | | | | | | | | | No. of Units | | Wtd. Avg. Grant Date Fair Value per Unit | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Awards outstanding at September 30, 2021 | 572,557 | | | 95.09 | | Granted | 105,756 | | | 132.74 | | Vested (a) | (533,441) | | | 93.22 | | Forfeited | (31,616) | | | 124.15 | | Awards outstanding at September 30, 2022 | 113,256 | | | 130.94 | |
(a)Vested at a weighted average of 228% of the target performance share units granted.
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