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COMBINED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (Condensed) (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net sales $ 658.0 $ 647.2 $ 1,981.8 $ 1,775.5
Cost of products sold 394.8 400.9 1,181.7 1,059.5
Gross profit 263.2 246.3 800.1 716.0
Selling, general and administrative expense 112.8 127.6 351.0 373.5
Advertising and sales promotion expense 37.3 34.3 106.9 99.9
Research and development expense 8.4 9.5 25.6 23.7
Amortization of intangible assets 14.3 14.4 42.3 30.1
Interest expense 50.8 51.9 149.0 177.3
Total Other items, net 0.7 (0.8) 5.8 (13.9)
(Loss)/Earnings before income taxes 38.9 9.4 119.5 25.4
Income tax provision 9.9 0.2 31.0 7.7
Net earnings from continuing operations   9.2 88.5 17.7
Net earnings/(loss) from discontinued operations, net of income tax benefit of $0.4 and $6.6 for the quarter and nine months ended June 30, 2020, respectively, and an expense of $0.4 and a benefit of $2.5 for the quarter and nine months ended June 30, 2019, respectively 0.8 (1.8) (130.3) (12.8)
Net earnings/(loss) 29.8 7.4 (41.8) 4.9
Mandatory preferred stock dividends (4.0) (4.4) (12.1) (7.7)
Net earnings/(loss) attributable to common shareholders $ 25.8 $ 3.0 $ (53.9) $ (2.8)
Basic net (loss)/earnings per common share- continuing operations (in dollars per share) $ 0.37 $ 0.07 $ 1.11 $ 0.15
Basic net loss per common share- discontinued operations (in dollars per share) 0.01 (0.03) (1.89) (0.19)
Basic net (loss)/earnings per common share (in dollars per share) 0.38 0.04 (0.78) (0.04)
Diluted net (loss)/earnings per common share- continuing operations (in dollars per share) 0.37 0.07 1.10 0.15
Diluted net loss per common share- discontinued operations (in dollars per share) 0.01 (0.03) (1.88) (0.19)
Diluted net (loss)/earnings per common share (in dollars per share) $ 0.38 $ 0.04 $ (0.78) $ (0.04)
Weighted average shares of common stock - Basic (shares) 68.5 69.6 68.9 65.5
Weighted average shares of common stock - Diluted (shares) 68.7 70.6 69.4 66.5
Statements of Comprehensive Income:        
Net (loss)/earnings $ 29.8 $ 7.4 $ (41.8) $ 4.9
Other comprehensive income/(loss), net of tax expense/(benefit)        
Foreign currency translation adjustments 2.0 (12.3) (3.2) 4.3
Pension activity, net of tax of $0.5 and $2.2 for the quarter and nine months ended June 30, 2020, and $0.2 and $0.8, for the quarter and nine months ended June 30, 2019 respectively. 1.1 0.9 6.3 3.0
Deferred loss on hedging activity, net of tax of ($0.6) and ($2.8) for the quarter and nine months ended June 30, 2020, respectively, and ($1.9) and ($3.7) for the quarter and nine months ended June 30, 2019, respectively. (1.3) (6.4) (10.1) (10.8)
Total comprehensive gain/(loss) $ 31.6 $ (10.4) $ (48.8) $ 1.4