DERIVATIVES

6 Months Ended

Mar. 29, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES

DERIVATIVES

Derivative financial instruments are principally used in the management of foreign currency risk. The Company does not hold or issue derivative financial instruments for speculative or trading purposes.

Cash Flow Hedges. The Company periodically enters into forward foreign exchange contracts to hedge the cash flow risk from the forecasted purchase and sale of inventory denominated in foreign currencies, and designated as a cash flow hedge. These obligations generally require the Company to exchange foreign currencies for Australian Dollars, Canadian Dollars, Colombian Pesos, Euros, Japanese Yen, Mexican Pesos, Pound Sterling, or U.S. Dollars. The fair value of effective hedges are recorded in Accumulated Other Comprehensive Income ("AOCI") and as a derivative asset or liability, as applicable, until the purchase or sale is recognized, or otherwise determined to be ineffective or discontinued, at which point the fair value of the related hedge is reclassified to earnings.

Derivative Instruments Not Designated as Hedge. The Company periodically enters into forward contracts to economically hedge a portion of risk from intercompany balances denominated in foreign currencies. These obligations generally require the Company to exchange foreign currencies for Australian Dollars, Canadian Dollars, Czech Koruna, Euros, Japanese Yen, Polish Zloty, Pound Sterling, or U.S. Dollars. These foreign exchange contracts are fair value hedges of related intercompany balances with the gain or loss on the derivative instruments recorded in earnings offsetting the change in value of the related intercompany balance.

The following summarizes outstanding notional balances and maturities of derivative instruments as of March 29, 2026 and September 30, 2025.

	March 29, 2026			September 30, 2025
(in millions)	Notional Balance		Maturities thru	Notional Balance		Maturities thru
Foreign exchange contracts - cash flow hedges	$	339.0	September 2027	$	333.5	March 2027
Foreign exchange contracts - not designated as hedge	101.8		April 2026	447.7		October 2025

The following summarizes the fair value and location of outstanding derivative instruments in the Condensed Consolidated Statements of Financial Position.

(in millions)	Line Item	March 29, 2026		September 30, 2025
Derivative Assets
Foreign exchange contracts – cash flow hedges	Other receivables	$	0.6	$	0.6
Foreign exchange contracts – cash flow hedges	Deferred charges and other	0.1		0.1
Foreign exchange contracts – not designated as hedge	Other receivables	0.1		0.1
Total Derivative Assets		$	0.8	$	0.8
Derivative Liabilities
Foreign exchange contracts – cash flow hedges	Accounts payable	$	4.4	$	8.8
Foreign exchange contracts – cash flow hedges	Other long term liabilities	0.1		0.1
Foreign exchange contracts – not designated as hedge	Accounts payable	—		0.7
Total Derivative Liabilities		$	4.5	$	9.6

The fair value for derivative instruments excludes collateral or standby letter of credit associated with derivative instruments, of which there were none as of March 29, 2026 and September 30, 2025. The Company is not a party to derivative agreements that require collateral to be posted prior to settlement.

The following summarizes the pre-tax (loss) gain from derivative instruments and location in the Condensed Consolidated Statements of Income for the three and six month periods ended March 29, 2026 and March 30, 2025, respectively.

		Three Month Periods Ended				Six Month Periods Ended
(in millions)	Line Item	March 29, 2026		March 30, 2025		March 29, 2026		March 30, 2025
Foreign exchange contracts - cash flow hedges	Net sales	$	0.1	$	—	$	0.1	$	—
Foreign exchange contracts - cash flow hedges (effective portion)	Cost of goods sold	(3.4)		1.2		(5.7)		0.5
Foreign exchange contracts - cash flow hedges (ineffective portion)	Cost of goods sold	(1.2)		—		(3.2)		—
Foreign exchange contracts - not designated as hedge	Other non-operating (income) expense, net	(0.3)		8.7		(0.7)		5.4

There was no gain or loss realized from cash flow hedges due to the ineffectiveness or discontinuation of the cash flow hedge because it was not considered probable that the original forecasted transaction would not occur. See Note 11 - Accumulated Other Comprehensive Income for unrealized gains and losses initially recognized as other comprehensive income and the accumulated unrealized gain (loss) associated with cash flow hedges recognized in AOCI. As of March 29, 2026, the net loss estimated to be reclassified from AOCI into earnings associated with cash flow hedges over the next 12 months is $1.6 million, net of tax.