Retirement Benefits

6 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

Retirement Benefits

RETIREMENT BENEFITS

The components of net periodic cost (benefit) for our defined benefit pension plans for the three and six months ended 31 March 2023 and 2022 were as follows:

	Pension Benefits
	2023			2022
Three Months Ended 31 March	U.S.	Inter-national	Total	U.S.	Inter-national	Total
Service cost	$2.8	$3.0	$5.8	$4.6	$5.6	$10.2
Non-service cost (benefit):
Interest cost	32.5	14.9	47.4	18.4	7.6	26.0
Expected return on plan assets	(31.8)	(12.2)	(44.0)	(42.1)	(17.6)	(59.7)
Prior service cost amortization	0.3	0.1	0.4	0.3	—	0.3
Actuarial loss amortization	15.0	3.0	18.0	16.6	3.8	20.4
Settlements	0.9	0.2	1.1	0.9	0.2	1.1
Other	—	0.2	0.2	—	0.2	0.2
Net Periodic Cost (Benefit)	$19.7	$9.2	$28.9	($1.3)	($0.2)	($1.5)

	Pension Benefits
	2023			2022
Six Months Ended 31 March	U.S.	Inter-national	Total	U.S.	Inter-national	Total
Service cost	$5.5	$6.3	$11.8	$9.2	$11.2	$20.4
Non-service cost (benefit):
Interest cost	65.0	29.3	94.3	36.8	15.2	52.0
Expected return on plan assets	(63.6)	(24.0)	(87.6)	(84.2)	(35.3)	(119.5)
Prior service cost amortization	0.6	0.1	0.7	0.6	—	0.6
Actuarial loss amortization	29.8	6.0	35.8	33.3	7.7	41.0
Settlements	0.9	0.2	1.1	1.8	0.2	2.0
Curtailments	—	(1.9)	(1.9)	—	—	—
Other	—	0.5	0.5	—	1.0	1.0
Net Periodic Cost (Benefit)	$38.2	$16.5	$54.7	($2.5)	$—	($2.5)

Our service costs are primarily included within "Cost of sales" and "Selling and administrative expense" on our consolidated income statements. The amount of service costs capitalized in the first six months of fiscal years 2023 and 2022 were not material. The non-service related impacts, including pension settlement losses and curtailment gains, are presented outside operating income within "Other non-operating income (expense), net."

For the six months ended 31 March 2023 and 2022, our cash contributions to funded pension plans and benefit payments under unfunded pension plans were $15.4 and $16.1, respectively. Total contributions for fiscal year 2023 are expected to be approximately $25 to $35. During fiscal year 2022, total contributions were $44.7.

In December 2022, we amended an international defined benefit pension plan to move its participants to a defined contribution plan for future benefit accumulation. As a result of this amendment, we recognized a $1.9 curtailment gain for the write-off of prior service credits and remeasured the projected benefit obligations of the plan. This resulted in a net decrease to our projected benefit obligation and accumulated other comprehensive loss of $9.1 in the first quarter of fiscal year 2023. The impact of the remeasurement on fiscal year 2023 expense is not material.

During the three and six months ended 31 March 2023, we recognized actuarial gain amortization of $0.4 and $1.0, respectively, for our other postretirement benefits plan.