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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Jul. 04, 2021
Jun. 28, 2020
Jul. 04, 2021
Jun. 28, 2020
Net Sales $ 1,162.8 $ 984.3 $ 3,457.5 $ 2,793.6
Cost of goods sold 755.1 635.7 2,222.1 1,834.2
Restructuring and related charges 0.3 (0.3) 1.7 12.5
Gross profit 407.4 348.9 1,233.7 946.9
Selling 189.8 141.3 529.8 437.4
General and administrative 85.6 83.6 266.4 245.7
Research and development 13.1 9.7 36.1 29.7
Restructuring and related charges 9.8 12.5 21.7 49.1
Transaction related charges 11.1 6.1 41.4 17.4
Loss on assets held for sale 0.0 1.1 0.0 26.8
Write-off from impairment of intangible assets 0.0 0.0 0.0 24.2
Total operating expenses 309.4 254.3 895.4 830.3
Operating income 98.0 94.6 338.3 116.6
Interest expense 31.4 36.1 133.7 106.5
Gain from extinguishment of Salus CLO debt 0.0 (76.2) 0.0 (76.2)
Other non-operating expense (income), net 3.0 (56.5) (4.6) 10.2
Income from continuing operations before income taxes 63.6 191.2 209.2 76.1
Income tax expense 27.7 53.6 63.3 35.3
Net income from continuing operations 35.9 137.6 145.9 40.8
(Loss) income from discontinued operations, net of tax (5.2) 8.0 (6.6) 12.2
Net income 30.7 145.6 139.3 53.0
Net income (loss) attributable to non-controlling interest 0.0 0.5 (0.1) 0.6
Net income (loss) attributable to controlling interest 30.7 145.1 139.4 52.4
Amounts attributable to controlling interest        
Net income (loss) from continuing operations attributable to controlling interest 35.9 137.1 146.0 40.2
Net (loss) income from discontinued operations attributable to controlling interest (5.2) 8.0 (6.6) 12.2
Net income (loss) attributable to controlling interest $ 30.7 $ 145.1 $ 139.4 $ 52.4
Earnings Per Share        
Basic earnings per share from continuing operations (in dollars per share) $ 0.84 $ 3.19 $ 3.42 $ 0.89
Basic earnings per share from discontinued operations (in dollars per share) (0.12) 0.18 (0.15) 0.27
Basic earnings per share (in dollars per share) 0.72 3.37 3.27 1.16
Diluted earnings per share from continuing operations (in dollars per share) 0.84 3.18 3.40 0.89
Diluted earnings per share from discontinued operations (in dollars per share) (0.12) 0.18 (0.15) 0.27
Diluted earnings per share (in dollars per share) 0.72 3.36 3.25 1.16
Dividend per share (in dollars per share) $ 0.42 $ 0.42 $ 1.26 $ 1.26
Weighted Average Shares Outstanding        
Basic (in shares) 42.6 43.1 42.7 45.3
Diluted (in shares) 42.9 43.2 42.9 45.4
SB/RH        
Net Sales $ 1,162.8 $ 984.3 $ 3,457.5 $ 2,793.6
Cost of goods sold 755.1 635.7 2,222.1 1,834.2
Restructuring and related charges 0.3 (0.3) 1.7 12.5
Gross profit 407.4 348.9 1,233.7 946.9
Selling 189.8 141.3 529.8 437.4
General and administrative 84.1 82.0 263.6 239.5
Research and development 13.1 9.7 36.1 29.7
Restructuring and related charges 9.8 12.5 21.7 49.1
Transaction related charges 11.1 6.1 41.4 17.4
Loss on assets held for sale 0.0 1.1 0.0 26.8
Write-off from impairment of intangible assets 0.0 0.0 0.0 24.2
Total operating expenses 307.9 252.7 892.6 824.1
Operating income 99.5 96.2 341.1 122.8
Interest expense 31.5 36.0 133.9 106.0
Other non-operating expense (income), net 2.9 (56.5) (4.6) 10.2
Income from continuing operations before income taxes 65.1 116.7 211.8 6.6
Income tax expense 28.2 35.4 63.9 18.8
Net income from continuing operations 36.9 81.3 147.9 (12.2)
(Loss) income from discontinued operations, net of tax (5.2) 8.0 (6.6) 12.2
Net income 31.7 89.3 141.3 0.0
Net income (loss) attributable to non-controlling interest 0.0 0.5 (0.1) 0.6
Net income (loss) attributable to controlling interest 31.7 88.8 141.4 (0.6)
Amounts attributable to controlling interest        
Net income (loss) from continuing operations attributable to controlling interest 36.9 80.8 148.0 (12.8)
Net (loss) income from discontinued operations attributable to controlling interest (5.2) 8.0 (6.6) 12.2
Net income (loss) attributable to controlling interest $ 31.7 $ 88.8 $ 141.4 $ (0.6)