Noncontrolling Interests, Equity Interests and Related Party Transactions (Tables)

6 Months Ended

Mar. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Effects of changes in ownership of PHPC on Post equity

	Three Months Ended March 31,				Six Months Ended March 31,
	2023		2022		2023		2022
Net earnings attributable to redeemable NCI	$	1.2	$	2.1	$	2.8	$	2.2
Redemption value adjustment	(2.5)		—		(4.0)		—
PHPC deemed dividend	$	(1.3)	$	2.1	$	(1.2)	$	2.2

Redeemable Noncontrolling Interest

	As of and for the Three Months Ended March 31,				As of and for the Six Months Ended March 31,
	2023		2022		2023		2022
Beginning of period	$	308.1	$	305.0	$	306.6	$	305.0
Net earnings attributable to redeemable NCI	1.2		2.1		2.8		2.2
PHPC deemed dividend	1.3		(2.1)		1.2		(2.2)
End of period	$	310.6	$	305.0	$	310.6	$	305.0

Equity method loss attributable to 8th Avenue

The following table presents the calculation of the Company’s equity method loss attributable to 8th Avenue prior to the discontinuance of applying the equity method to the investment.

	Three Months Ended March 31, 2022			Six Months Ended March 31, 2022
Net loss attributable to 8th Avenue common shareholders	$	(28.0)		$	(55.7)
	60.5		%	60.5		%
Equity method loss attributable to Post	$	(16.9)		$	(33.7)
Less: Amortization of basis difference, net of tax (a)	1.7			3.4
Equity method loss, net of tax	$	(18.6)		$	(37.1)

(a)The Company adjusted the historical basis of 8th Avenue’s assets and liabilities to fair value and recognized a basis difference of $70.3 upon the initial recording of its equity method investment in 8th Avenue. The basis difference related to property, plant and equipment and other intangible assets was initially amortized over the weighted-average useful lives of the assets. During the year ended September 30, 2022, the carrying value of the Company’s investment in 8th Avenue was reduced to zero, resulting in the termination of basis difference amortization in accordance with ASC Topic 323.

8th Avenue Summarized Financial Information

The following table presents summarized financial information of 8th Avenue prior to the discontinuance of applying the equity method to the investment.

	Three Months Ended March 31, 2022		Six Months Ended March 31, 2022
Net sales	$	256.2	$	515.8
Gross profit	$	28.2	$	56.2
Net loss	$	(18.1)	$	(36.1)
Less: Preferred stock dividend	9.9		19.6
Net loss attributable to 8th Avenue common shareholders	$	(28.0)	$	(55.7)