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DERIVATIVES (Tables)
 6 Months Ended
Mar. 31, 2024
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 and six month periods ended March 31, 2024 and April 2, 2023, respectively:
Unrealized Gain (Loss) in OCI Before ReclassificationReclassified Gain (Loss) to Continuing Operations
For the three month periods ended (in millions)
March 31, 2024April 2, 2023Line ItemMarch 31, 2024April 2, 2023
Foreign exchange contracts$— $0.1 Net sales$0.1 $— 
Foreign exchange contracts1.4 (7.5)Cost of goods sold(4.9)(4.9)
Total$1.4 $(7.4)$(4.8)$(4.9)
Unrealized Gain (Loss) in OCI Before ReclassificationReclassified Gain (Loss) to Continuing Operations
For the six month periods ended (in millions)
March 31, 2024April 2, 2023Line ItemMarch 31, 2024April 2, 2023
Foreign exchange contracts$— $0.1 Net sales$0.1 $0.1 
Foreign exchange contracts(9.2)(33.2)Cost of goods sold(10.0)(2.5)
Total$(9.2)$(33.1)$(9.9)$(2.4)
The following summarizes the unrealized gain (loss) from the net investment hedge recognized in Other Comprehensive Income for the three and six month periods ended March 31, 2024 and April 2, 2023, pre-tax:
Three Month Periods EndedSix Month Periods Ended
Unrealized Gain (Loss) in OCI (in millions)March 31, 2024April 2, 2023March 31, 2024April 2, 2023
Net investment hedge$11.6 $(12.5)$(9.7)$(46.4)
Summary of Impact of Derivative Instruments
The following summarizes the gain (loss) realized from derivative instruments not designated as hedges for accounting purposes on the accompanying Condensed Consolidated Statements of Income for the three and six month periods ended March 31, 2024 and April 2, 2023, pre-tax:
Three Month Periods EndedSix Month Periods Ended
(in millions)Line ItemMarch 31, 2024April 2, 2023March 31, 2024April 2, 2023
Foreign exchange contractsOther non-operating expense, net$5.5 $(0.1)$(7.6)$(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 ItemMarch 31, 2024September 30, 2023
Derivative Assets
Foreign exchange contracts – designated as hedgeOther receivables$0.8 $1.4 
Foreign exchange contracts – designated as hedgeDeferred charges and other0.1 0.1 
Foreign exchange contracts – not designated as hedgeOther receivables2.5 1.8 
Total Derivative Assets$3.4 $3.3 
Derivative Liabilities
Foreign exchange contracts – designated as hedgeAccounts payable$6.4 $8.1 
Foreign exchange contracts – designated as hedgeOther long term liabilities0.4 — 
Foreign exchange contracts – not designated as hedgeAccounts payable11.0 0.9 
Total Derivative Liabilities$17.8 $9.0