XML 46 R34.htm IDEA: XBRL DOCUMENT v3.19.3
Other Comprehensive Income (Tables)
 12 Months Ended
Sep. 30, 2019
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Changes in OCL by Component

The following table represents the changes in Other comprehensive income (loss) by component in fiscal 2019:
 
Year Ended September 30, 2019
 
Other comprehensive income (loss)
 
Prior to
reclassification
 
Reclassification
from
 
Pre-tax
 
Tax effect
 
Net of tax
Derivative instruments and hedges 1:
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts
$
(0.6
)
 
$
0.6

 
$
—

 
$
—

 
$
—

Interest rate swaps
(24.8
)
 
(6.8
)
 
(31.6
)
 
7.3

 
(24.3
)
Cross-currency swaps
18.0

 
—

 
18.0

 
(4.1
)
 
13.9

Derivative instruments and hedges total
(7.4
)

(6.2
)

(13.6
)

3.2


(10.4
)
Foreign currency translation adjustment
(40.1
)
 
—

 
(40.1
)
 
—

 
(40.1
)
Change in pension and postretirement defined benefit plans
(19.4
)
 
2.0

 
(17.4
)
 
3.8

 
(13.6
)
Total
$
(66.9
)
 
$
(4.2
)
 
$
(71.1
)
 
$
7.0

 
$
(64.1
)

1 See Note 7 for information regarding our hedging strategies.

The following table represents the changes in Accumulated other comprehensive income (loss) by component in fiscal 2019:
 
Accumulated other comprehensive income (loss)
 
Balances as of September 30, 2018
 
Impacts of ASU 2018-02 Adoption as of October 1, 2018
 
Net activity for the Year Ended September 30, 2019
 
Balances as of September 30, 2019 1
Derivative instruments designated as hedges:
 
 
 
 
 
 
 
Foreign exchange forward contracts
$
0.2

 
$
—

 
$
—

 
$
0.2

Interest rate swaps
18.3

 
0.8

 
(24.3
)
 
(5.2
)
Cross-currency swaps
(1.7
)
 
—

 
13.9

 
12.2

Derivative instruments designated as hedges total
16.8

 
0.8

 
(10.4
)
 
7.2

Foreign currency translation adjustment
(105.3
)
 
—

 
(40.1
)
 
(145.4
)
Change in pension and postretirement defined benefit plans
(24.5
)
 
(6.2
)
 
(13.6
)
 
(44.3
)
Total
$
(113.0
)
 
$
(5.4
)
 
$
(64.1
)
 
$
(182.5
)

1 The estimated net amount of gains and losses that are reported in Accumulated other comprehensive loss as of September 30, 2019 that is expected to be reclassified into earnings within the next 12 months is $0.7 million.

The following tables represent the changes in Accumulated other comprehensive income (loss) by component in fiscal 2018 and 2017:

 
Year Ended September 30, 2018
 
Other comprehensive income (loss)
 
Accumulated other comprehensive income (loss)
 
Prior to
reclassification
 
Reclassification
from
 
Pre-tax
 
Tax effect
 
Net of tax
 
Beginning
balance
 
Net activity
 
Ending
balance
Derivative instruments and hedges 1:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts
$
0.4

 
$
0.3

 
$
0.7

 
$
(0.1
)
 
$
0.6

 
$
(0.4
)
 
$
0.6

 
$
0.2

Interest rate swaps
22.8

 
(5.3
)
 
17.5

 
(3.9
)
 
13.6

 
4.7

 
13.6

 
18.3

Cross-currency swaps
(2.2
)
 
—

 
(2.2
)
 
0.5

 
(1.7
)
 
—

 
(1.7
)
 
(1.7
)
Derivative instruments and hedges total
21.0

 
(5.0
)
 
16.0

 
(3.5
)
 
12.5

 
4.3

 
12.5

 
16.8

Foreign currency translation adjustment
(24.0
)
 
—

 
(24.0
)
 
—

 
(24.0
)
 
(81.3
)
 
(24.0
)
 
(105.3
)
Change in pension and postretirement defined benefit plans
7.9

 
3.0

 
10.9

 
(2.4
)
 
8.5

 
(33.0
)
 
8.5

 
(24.5
)
Total
$
4.9

 
$
(2.0
)
 
$
2.9

 
$
(5.9
)
 
$
(3.0
)
 
$
(110.0
)
 
$
(3.0
)
 
$
(113.0
)

 
Year Ended September 30, 2017
 
Other comprehensive income (loss)
 
Accumulated other comprehensive income (loss)
 
Prior to
reclassification
 
Reclassification
from
 
Pre-tax
 
Tax effect
 
Net of tax
 
Beginning
balance
 
Net activity
 
Ending
balance
Derivative instruments and hedges 1:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts
$
(0.4
)
 
$
(0.2
)
 
$
(0.6
)
 
$
0.1

 
$
(0.5
)
 
$
0.1

 
$
(0.5
)
 
$
(0.4
)
Interest rate swaps
13.1

 
(0.7
)
 
12.4

 
(4.5
)
 
7.9

 
(3.2
)
 
7.9

 
4.7

Derivative instruments and hedges total
12.7

 
(0.9
)
 
11.8

 
(4.4
)
 
7.4

 
(3.1
)
 
7.4

 
4.3

Foreign currency translation adjustment
32.9

 
1.0

 
33.9

 
—

 
33.9

 
(115.2
)
 
33.9

 
(81.3
)
Change in pension and postretirement defined benefit plans
22.1

 
5.9

 
28.0

 
(10.2
)
 
17.8

 
(50.8
)
 
17.8

 
(33.0
)
Total
$
67.7


$
6.0


$
73.7


$
(14.6
)

$
59.1


$
(169.1
)

$
59.1


$
(110.0
)
Schedule of Items Reclassified out of AOCL

The following table represents the items reclassified out of Accumulated other comprehensive income (loss) and the related tax effects in fiscal 2019, 2018 and 2017:
 
 Year Ended September 30
 
2019
 
2018
 
2017
 
Amount
reclassified
 
Tax effect 5
 
Net of tax
 
Amount
reclassified
 
Tax effect
 
Net of tax
 
Amount
reclassified
 
Tax effect
 
Net of tax
Derivative instruments and hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts 1
$
0.6

 
$
(0.2
)
 
$
0.4

 
$
0.3

 
$
—

 
$
0.3

 
$
(0.2
)
 
$
—

 
$
(0.2
)
Interest rate swaps 2 
(6.8
)
 
1.6

 
(5.2
)
 
(5.3
)
 
1.2

 
(4.1
)
 
(0.7
)
 
0.3

 
(0.4
)
Derivative instruments and hedges total
$
(6.2
)
 
$
1.4

 
$
(4.8
)
 
$
(5.0
)
 
$
1.2

 
$
(3.8
)
 
$
(0.9
)
 
$
0.3

 
(0.6
)
Foreign currency translation adjustment 3
—

 
—

 
—

 
—

 
—

 
—

 
1.0

 
—

 
1.0

Change in pension and postretirement defined benefit plans 4
2.0

 
(2.4
)
 
(0.4
)
 
3.0

 
(1.0
)
 
2.0

 
5.9

 
(2.2
)
 
3.7


1 Reclassified from Accumulated other comprehensive income (loss) into Investment income and other, net.
2 Reclassified from Accumulated other comprehensive income (loss) into Interest expense.
3 Reclassified from Accumulated other comprehensive income (loss) into Special charges.
4 Reclassified from Accumulated other comprehensive income (loss) into Cost of goods sold and Selling and administrative expenses. These components are included in the computation of net periodic pension expense.
5 As a result of the adoption of ASU 2018-02, we reclassified $5.4 million from Accumulated other comprehensive income (loss)
to Retained earnings.