Restructuring Charges

12 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Operating Model Redesign

In fiscal 2023, the Company is continuing to take actions to strengthen its operating model, simplify the organization and improve manufacturing and supply chain efficiency and productivity. As a result of these actions, the Company expects to incur restructuring and re-positioning actions of approximately $19 in fiscal 2024. To date the Company has incurred restructuring and related charges as follows:


	Fiscal 2023		Fiscal 2022
Severance and related benefit costs	6.2		5.6
Asset write-off and accelerated depreciation	0.8		0.8
Consulting, project implementation and management, and other exit costs	10.1		9.8
Total restructuring and related costs (1) (2)	$	17.1	$	16.2

(1) Restructuring and related costs of $0.2 and nil are included within Cost of products sold for fiscal 2023 and 2022, respectively.

(2) Restructuring and related costs of $0.3 and $0.9 are included within SG&A for fiscal 2023 and 2022, respectively.

Project Fuel

Project Fuel was an enterprise-wide transformational initiative launched in fiscal 2018 to improve operational performance and reshape the business’ cost structure. Project Fuel was completed on September 30, 2021.

The Company does not include Project Fuel restructuring costs in the results of its reportable segments. However, the estimated impact of allocating such charges to segment results for fiscal 2021 would have been as follows:


	Fiscal 2021
	Wet Shave		Sun and Skin Care		Feminine Care		Corporate		Total
Project Fuel
Severance and related benefit costs	$	1.5	$	0.1	$	—	$	7.8	$	9.4
Asset impairment and accelerated depreciation	1.1		—		—		—		$	1.1
Consulting, project implementation and management and other exit costs	2.7		0.2		0.3		16.4		19.6
Total Restructuring and related costs	$	5.3	$	0.3	$	0.3	$	24.2	$	30.1

Consulting, project implementation and management and other exit costs include pre-tax SG&A associated with certain information technology enablement expenses and compensation expenses related to Project Fuel of $8.7 for fiscal 2021. Asset impairment and accelerated depreciation includes pre-tax Cost of products sold associated with inventory obsolescence related to Project Fuel of $0.6 for fiscal 2021. Project-to-date restructuring and related costs inclusive of information technology enablement charges and inventory obsolescence totaled $163.7.

Restructuring Reserves

The following table summarizes restructuring activities and related accruals:


					Utilized
	October 1, 2022		Charge to Income		Cash		Non-Cash		September 30, 2023
Severance and related benefit costs	$	1.7	$	6.2	$	(4.0)	$	—	$	3.9
Asset write-off and accelerated depreciation	—		0.8		—		(0.8)		—
Consulting, project implementation and management, and other exit costs	0.8		10.1		(10.2)		—		0.7
Total restructuring activities and related accrual	$	2.5	$	17.1	$	(14.2)	$	(0.8)	$	4.6


					Utilized
	October 1, 2021		Charge to Income		Cash		Non-Cash		September 30, 2022
Severance and related benefit costs	$	1.9	$	5.6	$	(5.8)	$	—	$	1.7
Asset write-off and accelerated depreciation	—		0.8		—		(0.8)		—
Consulting, project implementation and management, and other exit costs	3.6		9.8		(12.6)		—		0.8
Total restructuring activities and related accrual	$	5.5	$	16.2	$	(18.4)	$	(0.8)	$	2.5