XML 53 R20.htm IDEA: XBRL DOCUMENT v3.20.1
Pension Plans
 6 Months Ended
Mar. 31, 2020
Retirement Benefits [Abstract]  
Pension Plans Pension Plans

The Company has several defined benefit pension plans covering many of its employees in the U.S. and certain employees in other countries. The plans provide retirement benefits based on various factors including years of service and in certain circumstances, earnings. The U.S. plan was frozen in fiscal year 2015.
The Company’s net periodic pension (benefit)/cost for these plans are as follows:
 
For the Quarter Ended March 31,
 
U.S.
 
International
 
2020
 
2019
 
2020
 
2019
Service cost
$
—

 
$
—

 
$
0.2

 
$
0.2

Interest cost
4.0

 
5.1

 
0.3

 
0.8

Expected return on plan assets
(6.1
)
 
(6.5
)
 
(0.6
)
 
(1.3
)
Amortization of unrecognized net losses
1.6

 
1.0

 
0.3

 
0.2

Net periodic (benefit)/cost
$
(0.5
)
 
$
(0.4
)
 
$
0.2

 
$
(0.1
)
 
 
 
 
 
 
 
 
 
For the Six Months Ended March 31,
 
U.S.
 
International
 
2020
 
2019
 
2020
 
2019
Service cost
$
—

 
$
—

 
$
0.4

 
$
0.3

Interest cost
8.0

 
10.2

 
0.6

 
1.4

Expected return on plan assets
(12.2
)
 
(13.0
)
 
(1.2
)
 
(2.5
)
Amortization of unrecognized net losses
3.2

 
2.0

 
0.6

 
0.5

Net periodic (benefit)/cost
$
(1.0
)
 
$
(0.8
)
 
$
0.4

 
$
(0.3
)


The service cost component of the net periodic (benefit)/cost above is recorded in Selling, general and administrative expense on the Consolidated (Condensed) Statement of Earnings and Comprehensive Income, while the remaining components are recorded to Other items, net.

The Company also sponsors or participates in a number of other non-U.S. pension arrangements, including various retirement and termination benefit plans, some of which are required by local law or coordinated with government-sponsored plans, which are not significant in the aggregate and, therefore, are not included in the information presented above.