DERIVATIVES (Tables)

3 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Impact of Designated Hedges and Gain (Loss)

The following table summarizes the impact of designated cash flow hedges and the pre-tax gain (loss) recognized in the Condensed Consolidated Statements of Income for the three month periods ended December 31, 2023 and January 1, 2023, respectively:

	Unrealized Gain (Loss) in OCI Before Reclassification				Reclassified Gain (Loss) to Continuing Operations
For the three month periods ended (in millions)	December 31, 2023		January 1, 2023		Line Item	December 31, 2023		January 1, 2023
Foreign exchange contracts	$	—	$	—	Net sales	$	0.1	$	0.1
Foreign exchange contracts	(10.6)		(25.7)		Cost of goods sold	(5.2)		2.4
Total	$	(10.6)	$	(25.7)		$	(5.1)	$	2.5

The following summarizes the unrealized gain (loss) from the net investment hedge recognized in Other Comprehensive Income for the three month periods ended December 31, 2023 and January 1, 2023, pre-tax:

Unrealized Gain (Loss) in OCI (in millions)	December 31, 2023		January 1, 2023
Net investment hedge	$	(21.3)	$	(33.9)

Summary of Impact of Derivative Instruments

The following summarizes the impact of derivative instruments not designated as hedges for accounting purposes on the accompanying Condensed Consolidated Statements of Income for the three month periods ended December 31, 2023 and January 1, 2023, pre-tax:

(in millions)	Line Item	December 31, 2023		January 1, 2023
Foreign exchange contracts	Other non-operating expense (income), net	$	(13.1)	$	(22.3)

Schedule of Fair Value of Outstanding Derivative Instruments

The fair value of the Company’s outstanding derivative contracts recorded in the Condensed Consolidated Statements of Financial Position is as follows:

(in millions)	Line Item	December 31, 2023		September 30, 2023
Derivative Assets
Foreign exchange contracts – designated as hedge	Other receivables	$	0.2	$	1.4
Foreign exchange contracts – designated as hedge	Deferred charges and other	—		0.1
Foreign exchange contracts – not designated as hedge	Other receivables	0.2		1.8
Total Derivative Assets		$	0.4	$	3.3
Derivative Liabilities
Foreign exchange contracts – designated as hedge	Accounts payable	$	11.5	$	8.1
Foreign exchange contracts – designated as hedge	Other long term liabilities	0.7		—
Foreign exchange contracts – not designated as hedge	Accounts payable	2.3		0.9
Total Derivative Liabilities		$	14.5	$	9.0