Pension Plans (Tables)

12 Months Ended

Sep. 30, 2019

Retirement Benefits [Abstract]

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan

The following tables present the benefit obligation, plan assets and funded status of the plans:

	September 30,
	U.S.						International
	2019			2018			2019			2018
Change in Projected Benefit Obligation
Benefit obligation at beginning of year	$	494.5		$	525.9		$	142.6		$	203.5
Service cost	—			—			0.5			0.6
Interest cost	20.4			18.7			2.9			3.9
Actuarial loss/(gain)	52.2			(12.9		)	22.2			(13.8		)
Benefits paid	(35.8		)	(36.8		)	(5.3		)	(6.4		)
Plan settlements	—			(0.4		)	(10.7		)	(41.1		)
Foreign currency exchange rate changes	—			—			(6.4		)	(4.1		)
Projected Benefit Obligation at end of year	$	531.3		$	494.5		$	145.8		$	142.6
Change in Plan Assets
Estimated fair value of plan assets at beginning of year	$	456.0		$	477.2		$	131.6		$	173.8
Actual return on plan assets	40.8			13.2			12.6			1.6
Company contributions	2.5			2.8			3.3			7.8
Plan settlements	—			(0.4		)	(13.5		)	(41.1		)
Benefits paid	(35.8		)	(36.8		)	(5.3		)	(6.4		)
Foreign currency exchange rate changes	—			—			(5.9		)	(4.1		)
Estimated fair value of plan assets at end of year	$	463.5		$	456.0		$	122.8		$	131.6
Funded status at end of year	$	(67.8	)	$	(38.5	)	$	(23.0	)	$	(11.0	)

Schedule of Defined Benefit Plans Disclosures

The following table presents the amounts recognized in the Consolidated Balance Sheets and Consolidated Statements of Shareholders’ Equity:

	September 30,
	U.S.						International
Amounts Recognized in the Consolidated Balance Sheets	2019			2018			2019			2018
Noncurrent assets	$	—		$	—		$	12.1		$	17.1
Current liabilities	(2.4		)	(2.5		)	(0.6		)	(0.6		)
Noncurrent liabilities	(65.4		)	(36.0		)	(34.5		)	(27.5		)
Net amount recognized	$	(67.8	)	$	(38.5	)	$	(23.0	)	$	(11.0	)
Amounts Recognized in Accumulated Other Comprehensive Loss
Net loss, pre tax	$	(182.7	)	$	(149.2	)	$	(40.9	)	$	(29.9	)

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

Pre-tax changes recognized in other comprehensive loss for the year ended September 30, 2019 are as follows:

Changes in plan assets and benefit obligations recognized in other comprehensive (loss)/income	U.S.			International
Net loss arising during the year	$	(37.5	)	$	(14.5	)
Effect of exchange rates	—			1.3
Amounts recognized as a component of net periodic benefit cost
Amortization or settlement recognition of net gain	4.0			2.2
Total loss recognized in other comprehensive loss	$	(33.5	)	$	(11.0	)

Schedule of Expected Benefit Payments

Energizer’s expected future benefit payments for the plans are as follows:

For The Years Ending September 30,	U.S.		International
2020	$	37.6	$	4.8
2021	37.2		4.9
2022	36.4		5.0
2023	36.4		4.8
2024	36.1		5.0
2025 to 2029	162.0		25.8

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

The following table shows the plans with an accumulated benefit obligation in excess of plan assets at the dates indicated.

	September 30,
	U.S.				International
	2019		2018		2019		2018
Projected benefit obligation	$	531.3	$	494.5	$	73.5	$	66.3
Accumulated benefit obligation	531.3		494.5		71.4		64.9
Estimated fair value of plan assets	463.5		456.0		38.5		38.2

Schedule of Net Benefit Costs

The following table presents plan pension expense:

	For the Years Ended September 30,
	U.S.									International
	2019			2018			2017			2019			2018			2017
Service cost	$	—		$	—		$	—		$	0.5		$	0.6		$	1.4
Interest cost	20.4			18.7			18.3			2.9			3.9			3.4
Expected return on plan assets	(26.2		)	(30.1		)	(34.3		)	(4.9		)	(6.3		)	(8.0		)
Recognized net actuarial loss	4.1			4.4			4.8			0.9			2.0			3.4
Settlement loss on Canadian pension plan termination	—			—			—			—			14.1			—
Settlement loss on Ireland pension plan termination	—			—			—			3.7			—			—
Settlement loss recognized on other pension plans	—			0.1			0.5			0.4			1.0			0.2
Net periodic (benefit)/expense	$	(1.7	)	$	(6.9	)	$	(10.7	)	$	3.5		$	15.3		$	0.4

Schedule of Assumptions Used

The following table presents assumptions, which reflect weighted averages for the component plans, used in determining the above information:

	September 30,
	U.S.						International
	2019		2018		2017		2019		2018		2017
Plan obligations:
Discount rate	3.1	%	4.3	%	3.7	%	1.6	%	2.1	%	2.1	%
Compensation increase rate	—		—		—		2.1	%	2.1	%	2.4	%
Net periodic benefit cost:
Discount rate	4.3	%	3.7	%	3.4	%	2.1	%	2.1	%	1.7	%
Expected long-term rate of return on plan assets	5.9	%	6.6	%	7.5	%	3.8	%	3.8	%	5.1	%
Compensation increase rate	—		—		—		2.1	%	2.4	%	3.2	%

Schedule of Allocation of Plan Assets

The following tables set forth the estimated fair value of Energizer’s plan assets as of September 30, 2019 and 2018 segregated by level within the estimated fair value hierarchy. Refer to Note 16, Financial Instruments and Risk Management, for further discussion on the estimated fair value hierarchy and estimated fair value principles.

ASSETS AT ESTIMATED FAIR VALUE	At September 30, 2019
	U.S. Pension  Plan Assets						International Pension Plan Assets
	Level 1		Level 2		Total		Level 1		Level 2		Total
EQUITY
U.S. Equity	$	66.0	$	—	$	66.0	$	—	$	—	$	—
International Equity	3.1		—		3.1		—		8.7		8.7
DEBT
U.S. Government	—		276.2		276.2		—		—		—
Other Government	—		1.8		1.8		—		9.0		9.0
Corporate	—		—		—		—		30.2		30.2
CASH & CASH EQUIVALENTS	—		—		—		—		2.5		2.5
OTHER	—		6.8		6.8		—		5.8		5.8
Assets Measured at Net Asset Value
U.S. Equity					64.6						—
International Equity					45.0						28.9
Corporate					—						37.7
TOTAL	$	69.1	$	284.8	$	463.5	$	—	$	56.2	$	122.8

	At September 30, 2018
	U.S. Pension  Plan Assets						International Pension Plan Assets
	Level 1		Level 2		Total		Level 1		Level 2		Total
EQUITY
U.S. Equity	$	67.7	$	—	$	67.7	$	—	$	1.6	$	1.6
International Equity	3.1		—		3.1		—		5.9		5.9
DEBT
U.S. Government	—		270.3		270.3		—		—		—
Other Government	—		—		—		—		7.5		7.5
Corporate	—		—		—		—		13.6		13.6
CASH & CASH EQUIVALENTS	—		—		—		—		6.0		6.0
OTHER	—		2.9		2.9		—		5.9		5.9
Assets measured at Net Asset Value
U.S. Equity					65.5						—
International Equity					46.5						41.8
Other Government					—						39.4
Corporate					—						9.9
TOTAL	$	70.8	$	273.2	$	456.0	$	—	$	40.5	$	131.6