Retirement Plans

3 Months Ended

Dec. 31, 2019

The Company has several defined benefit pension plans covering employees in the U.S. and certain employees in other countries, which are included in the information presented below. The plans provide retirement benefits based on years of service and earnings. The Company also sponsors or participates in several other non-U.S. pension and postretirement arrangements, including various retirement and termination benefit plans, some of which are required by local law or coordinated with government-sponsored plans, which are not significant in the aggregate and, therefore, are not included in the information presented below.

The Company’s net periodic pension and postretirement cost for these plans was as follows:


	Three Months Ended December 31,
	2019		2018
Service cost	$	1.1	$	0.7
Interest cost	3.4		4.7
Expected return on plan assets	(5.8)		(6.3)
Recognized net actuarial loss	2.3		1.0
Settlement loss recognized	0.2		—
Net periodic cost	$	1.2	$	0.1

The service cost component of the net periodic cost associated with the Company’s retirement plans is recorded to Cost of products sold and SG&A on the Condensed Consolidated Statement of Earnings. The remaining net periodic cost is recorded to Other (income) expense, net on the Condensed Consolidated Statement of Earnings.