Leases

3 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

Leases

The Company leases certain offices and manufacturing facilities, warehouses, employee vehicles and certain manufacturing related equipment. The Company determines if an arrangement is or contains a lease at inception. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheet. All recorded leases are classified as operating leases and lease expense is recognized on a straight-line basis over the lease term.

A summary of the Company's lease information is as follows:

		December 31, 2021			September 30, 2021
Assets	Classification
Right of use assets	Other assets	$	56.0		$	57.7
Liabilities
Current lease liabilities	Other current liabilities	$	11.6		$	11.0
Long-term lease liabilities	Other liabilities	44.9			46.9
Total lease liabilities		$	56.5		$	57.9
Other information
Weighted-average remaining lease term (years)		10			10
Weighted-average incremental borrowing rate		6.4		%	6.3		%

	Three Months Ended December 31, 2021		Three Months Ended December 31, 2020
Statement of Earnings
Lease cost (1)	$	3.5	$	3.9
Other information
Leased assets obtained in exchange for new lease liabilities	$	0.5	$	3.9
Cash paid for amounts included in the measurement of lease liabilities	$	3.6	$	4.0

(1)Lease expense is included in Cost of products sold or SG&A expense based on the nature of the lease. Short-term lease expense is excluded from this amount and is not material.

The Company's future lease payments, including reasonably assured renewal options under lease agreements, are as follows:

Lease liability repayments	December 31, 2021
Remainder of fiscal 2022	$	10.5
2023	11.1
2024	9.0
2025	8.1
2026	6.7
2027 and thereafter	37.1
Total future minimum lease commitments	82.5
Less: Imputed interest	(26.0)
Present value of lease liabilities	$	56.5