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Financial Instruments and Risk Management (Tables)
3 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The following table provides the Company's estimated fair values as of December 31, 2022 and September 30, 2022, and the amounts of gains and losses on derivative instruments classified as cash flow hedges for the three months ended December 31, 2022 and 2021, respectively:

At December 31, 2022
For the Quarter Ended December 31, 2022
Derivatives designated as Cash Flow Hedging RelationshipsEstimated Fair Value Asset / (Liability) (1)(Loss)/Gain Recognized in OCI (2)Gain Reclassified From OCI into Income(Effective Portion) (3) (4)
Foreign currency contracts$0.6 $(9.2)$6.5 
Interest rate swap81.5 — 4.9 
Zinc contracts(3.7)3.5 1.1 
Total$78.4 $(5.7)$12.5 
At September 30, 2022
For the Quarter Ended December 31, 2021
Derivatives designated as Cash Flow Hedging RelationshipsEstimated Fair Value Asset / (Liability) (1)(Loss)/Gain Recognized in OCI (2)Gain/(Loss) Reclassified From OCI into Income(Effective Portion) (3) (4)
Foreign currency contracts$16.3 $(0.3)$1.0 
Interest rate swap86.4 4.5 (1.8)
Zinc contracts(6.1)3.0 2.6 
Total$96.6 $7.2 $1.8 
(1) All derivative assets are presented in Other current assets or Other assets. All derivative liabilities are presented in Other current liabilities or Other liabilities.
(2) OCI is defined as other comprehensive income.
(3) Gain/(Loss) reclassified to Income was recorded as follows: Foreign currency contracts in Cost of products sold, interest rate contracts in Interest expense, and commodity contracts in Cost of products sold.
(4) Each of these hedging relationships has derivative instruments with a high correlation to the underlying exposure being hedged and has been deemed highly effective in offsetting the underlying risk.
Derivative Instruments, Gain (Loss)
The following table provides estimated fair values as of December 31, 2022 and September 30, 2022 and the gains and losses on derivative instruments not classified as cash flow hedges for the three months ended December 31, 2022 and 2021, respectively:

At December 31, 2022
For the Quarter Ended December 31, 2022
Estimated Fair Value Asset (1)Gain Recognized in Income (2)
Foreign currency contracts$0.3 $0.5 
 At September 30, 2022
For the Quarter Ended December 31, 2021
Estimated Fair Value Liability (1)Gain Recognized in Income (2)
Foreign currency contracts$(0.6)$1.9 
(1) All derivative assets and liabilities are presented in Other current assets or Other assets and Other current liabilities or Other liabilities, respectively.
(2) Gain / (Loss) recognized in Income was recorded as foreign currency in Other items, net.
Offsetting Liabilities
Offsetting of derivative assets
At December 31, 2022At September 30, 2022
DescriptionBalance Sheet locationGross amounts of recognized assetsGross amounts offset in the Balance SheetNet amounts of assets presented in the Balance SheetGross amounts of recognized assetsGross amounts offset in the Balance SheetNet amounts of assets presented in the Balance Sheet
Foreign Currency ContractsOther Current Assets, Other Assets$5.8 $(1.5)$4.3 $18.0 $— $18.0 
Offsetting of derivative liabilities
At December 31, 2022At September 30, 2022
DescriptionBalance Sheet locationGross amounts of recognized liabilitiesGross amounts offset in the Balance SheetNet amounts of liabilities presented in the Balance SheetGross amounts of recognized liabilitiesGross amounts offset in the Balance SheetNet amounts of liabilities presented in the Balance Sheet
Foreign Currency ContractsOther Current Liabilities, Other Liabilities$(4.9)$1.5 $(3.4)$(2.3)$— $(2.3)
Offsetting Assets
Offsetting of derivative assets
At December 31, 2022At September 30, 2022
DescriptionBalance Sheet locationGross amounts of recognized assetsGross amounts offset in the Balance SheetNet amounts of assets presented in the Balance SheetGross amounts of recognized assetsGross amounts offset in the Balance SheetNet amounts of assets presented in the Balance Sheet
Foreign Currency ContractsOther Current Assets, Other Assets$5.8 $(1.5)$4.3 $18.0 $— $18.0 
Offsetting of derivative liabilities
At December 31, 2022At September 30, 2022
DescriptionBalance Sheet locationGross amounts of recognized liabilitiesGross amounts offset in the Balance SheetNet amounts of liabilities presented in the Balance SheetGross amounts of recognized liabilitiesGross amounts offset in the Balance SheetNet amounts of liabilities presented in the Balance Sheet
Foreign Currency ContractsOther Current Liabilities, Other Liabilities$(4.9)$1.5 $(3.4)$(2.3)$— $(2.3)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis The following table sets forth the Company's financial assets and liabilities, which are carried at fair value, as of December 31, 2022 and September 30, 2022 that are measured on a recurring basis during the period, segregated by level within the fair value hierarchy:
 Level 2
(Liabilities)/Assets at estimated fair value:December 31,
2022
September 30,
2022
Deferred compensation$(26.6)$(24.6)
Derivatives - Foreign Currency contracts0.6 16.3 
Derivatives - Foreign Currency contracts (non-hedge)0.3 (0.6)
Derivatives - Interest Rate Swap contracts81.5 86.4 
Derivatives - Zinc contracts(3.7)(6.1)
Net Assets at estimated fair value$52.1 $71.4