DIVESTITURES (Tables)

6 Months Ended

Mar. 31, 2024

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 and six month periods ended March 31, 2024 and April 2, 2023:

	Three Month Periods Ended				Six Month Periods Ended
(in millions)	March 31, 2024		April 2, 2023		March 31, 2024		April 2, 2023
Income from discontinued operations before income taxes – HHI	$	15.2	$	59.5	$	15.2	$	104.4
(Loss) income from discontinued operations before income taxes – Other	—		(1.4)		10.3		(2.0)
Interest expense on corporate debt allocated to discontinued operations	—		17.8		—		34.0
Income from discontinued operations before income taxes	15.2		40.3		25.5		68.4
Income tax expense from discontinued operations	4.2		18.9		2.8		27.5
Income from discontinued operations, net of tax	11.0		21.4		22.7		40.9
Income from discontinued operations attributable to noncontrolling interest, net of tax	—		—		—		0.2
Income from discontinued operations attributable to controlling interest, net of tax	$	11.0	$	21.4	$	22.7	$	40.7

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 and six month period ended April 2, 2023:

	Three Month Period Ended		Six Month Period Ended
(in millions)	April 2, 2023		April 2, 2023
Net sales	$	383.3	$	746.1
Cost of goods sold	253.3		498.0
Gross profit	130.0		248.1
Operating expenses	68.9		140.0
Operating income	61.1		108.1
Interest expense	0.8		1.7
Other non-operating expense, net	0.8		2.0
Income from discontinued operations before income taxes	$	59.5	$	104.4

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 and six month period ended April 2, 2023:

	Three Month Period Ended		Six Month Period Ended
(in millions)	April 2, 2023		April 2, 2023
Share based compensation	$	0.3	$	1.1
Purchases of property, plant and equipment	4.4		8.0