Restructuring Charges

12 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Operating Model Redesign

In fiscal 2024, the Company continued 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 charges of approximately $11 in fiscal 2025. To date the Company has incurred restructuring and related charges as follows:


	Fiscal Year
	2024		2023		2022
Severance and related benefit costs	$	10.2	$	6.2	$	5.6
Asset write-off and accelerated depreciation	0.6		0.8		0.8
Consulting, project implementation and management, and other exit costs	9.6		10.1		9.8
Total restructuring and repositioning charges (1) (2)	$	20.4	$	17.1	$	16.2

(1) Restructuring and repositioning charges of nil, $0.2 and nil are included within Cost of products sold for fiscal 2024, 2023 and 2022, respectively.

(2) Restructuring and repositioning charges of $0.1, $0.3 and $0.9 are included within SG&A for fiscal 2024, 2023 and 2022, respectively.

Consolidation of Mexico Facilities

In fiscal 2024, the Company announced certain operational and organizational steps designed to streamline the Company’s operations and supply chain by consolidating its current Mexico operations in Obregon and Mexico City into a single facility in Aguascalientes, Mexico. As a result of these actions, the Company is anticipating to incur restructuring and re-positioning charges of $18 in fiscal 2025 and is expected to be completed by the second quarter of fiscal 2026.


	Fiscal Year
	2024
Severance and related benefit costs	$	15.6


Total restructuring and repositioning charges (1)	$	15.6

(1) The Company does not include restructuring costs in the results of its reportable segments, however, these are related to the Wet Shave segment.

Restructuring Reserves


	Operating Model Redesign		Consolidation of Mexico Facilities		Total
Severance and related benefit costs
Balance at October 1, 2022	$	1.7	$	—	$	1.7
Charge to income	6.2		—		6.2
Cash payments	(4.0)		—		(4.0)

Balance at September 30, 2023	3.9		—		3.9
Charge to income	10.8		15.6		26.4
Cash payments	(9.6)		—		(9.6)

Balance at September 30, 2024	5.1		15.6		20.7

Asset write-off and accelerated depreciation
Balance at October 1, 2022	—		—		—
Charge to income	0.8		—		0.8
Non-cash utilization	(0.8)		—		(0.8)
Balance at September 30, 2023	—		—		—





Consulting, project implementation and management, and other exit costs
Balance at October 1, 2022	0.8		—		0.8
Charge to income	10.1		—		10.1
Cash payments	(10.2)		—		(10.2)

Balance at September 30, 2023	0.7		—		0.7
Charge to income	9.6		—		9.6
Cash payments	(9.6)		—		(9.6)

Balance at September 30, 2024	0.7		—		0.7

Total restructuring activities and related accrual	$	5.8	$	15.6	$	21.4