Financial Instruments and Risk Management (Tables)

9 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instruments

The following table provides estimated fair values of derivative instruments:

	Fair Value of Assets (Liabilities) as of (1)
	June 30, 2023		September 30, 2022
Derivatives designated as cash flow hedging relationships:
Foreign currency contracts	$	2.4	$	11.3
Derivatives not designated as cash flow hedging relationships:
Foreign currency contracts	$	1.5	$	2.0

(1)Derivative assets are presented in Other current assets or Other assets. Derivative liabilities are presented in Other current liabilities or Other liabilities.

Schedule of Gains and Losses on Derivative Instruments

The following table provides the pre-tax amounts of gains and losses on derivative instruments:

	Three Months Ended June 30,				Nine Months Ended June 30,
	2023		2022		2023		2022
Derivatives designated as cash flow hedging relationships:
Foreign currency contracts
Gain (loss) recognized in OCI (1)	$	3.7	$	7.8	$	(2.1)	$	12.7
Gain reclassified from AOCI into income (1) (2)	1.0		3.4		6.8		6.3
Derivatives not designated as cash flow hedging relationships:
Foreign currency contracts
Gain (loss) recognized in income (2)	$	3.7	$	0.3	$	1.7	$	2.0

(1)Each of these derivative instruments had a high correlation to the underlying exposure being hedged for the periods indicated and have been deemed highly effective by the Company in offsetting associated risk.

(2)Gain was recorded in Other (income) expense, net.

Schedule of Offsetting Assets and Liabilities

The following table provides financial assets and liabilities for balance sheet offsetting:

	As of June 30, 2023				As of September 30, 2022
	Assets (1)		Liabilities (2)		Assets (1)		Liabilities (2)
Foreign currency contracts
Gross amounts of recognized assets (liabilities)	$	5.5	$	(1.8)	$	13.4	$	(0.5)
Gross amounts offset in the balance sheet	—		0.2		—		0.4
Net amounts of assets (liabilities) presented in the balance sheet	$	5.5	$	(1.6)	$	13.4	$	(0.1)

(1)All derivative assets are presented in Other current assets or Other assets.

(2)All derivative liabilities are presented in Other current liabilities or Other liabilities.

Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis

The following table sets forth the Company’s financial assets and liabilities, which are carried at fair value and measured on a recurring basis during the period, all of which are classified as Level 2 within the fair value hierarchy:

	June 30, 2023		September 30, 2022
Assets (Liabilities) at estimated fair value:
Deferred compensation liability	$	(19.3)	$	(21.8)
Derivatives - foreign currency contracts (liability) asset	3.9		13.3
Net liabilities at estimated fair value	$	(15.4)	$	(8.5)