DIVESTITURES (Tables)

3 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Summary of Components of Income from Discontinued Operations, Net of Tax

The following table summarizes the components of Income from Discontinued Operations, Net of Tax in the Condensed Consolidated Statements of Income for the three month periods ended December 31, 2023 and January 1, 2023:

	Three Month Periods Ended
(in millions)	December 31, 2023		January 1, 2023
Income from discontinued operations before income taxes – HHI	$	—	$	45.0
Income (loss) from discontinued operations before income taxes – Other	10.3		(0.6)
Interest expense on corporate debt allocated to discontinued operations	—		16.3
Income from discontinued operations before income taxes	10.3		28.1
Income tax (benefit) expense from discontinued operations	(1.4)		8.6
Income from discontinued operations, net of tax	11.7		19.5
Income from discontinued operations attributable to noncontrolling interest, net of tax	—		0.1
Income from discontinued operations attributable to controlling interest, net of tax	$	11.7	$	19.4

Summary of Components of Income from Discontinued Operations Before Income Taxes

The following table summarizes the components of income from discontinued operations before income taxes associated with the HHI divestiture for the three month period ended January 1, 2023:

(in millions)	January 1, 2023
Net sales	$	362.9
Cost of goods sold	244.8
Gross profit	118.1
Operating expenses	71.1
Operating income	47.0
Interest expense	0.8
Other non-operating expense, net	1.2
Income from discontinued operations before income taxes	$	45.0

Summary of Significant Non-cash Items and Capital Expenditures of Discontinued Operations

The following table presents significant non-cash items and capital expenditures of discontinued operations from the HHI divestiture for the three month period ended January 1, 2023:

(in millions)	January 1, 2023
Share based compensation	$	0.9
Purchases of property, plant and equipment	3.6