Divestment (Tables)

9 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Assets and Liabilities and Statement of Earnings of Divested Business

The following table summarizes the assets and liabilities of the Divestment Business classified as held for sale as of September 30, 2019:

	September 30, 2019
Assets
Trade receivables	$	50.9
Inventories	59.8
Other current assets	41.5
Property, plant and equipment, net	78.8
Goodwill	50.5
Other intangible assets, net	489.0
Other assets	21.2
Assets held for sale	$	791.7
Liabilities
Current portion of capital leases	$	5.3
Accounts payable	45.9
Notes payable	0.6
Other current liabilities	99.8
Long-term debt	23.5
Long term deferred tax liability	169.9
Other liabilities (1)	57.9
Liabilities held for sale	$	402.9

(1) Included in Other liabilities are pension liabilities of $42.4 related to the Divestment Business as of September 30, 2019, respectively.

The following table summarizes the components of Net loss from discontinued operations in the accompanying Consolidated (Condensed) Statement of Earnings and Comprehensive Income for the quarter and nine months ended June 30, 2020 and 2019.

	For the Quarter Ended June 30,				For the Nine Months Ended June 30,
	2020		2019		2020		2019
Net sales	$	—	$	69.9	$	115.8	$	150.1
Cost of products sold	—		52.5		88.2		122.3
Gross profit	—		17.4		27.6		27.8
Selling, general and administrative expense	—		18.1		18.0		39.2
Advertising and sales promotion expense	—		0.2		0.3		0.5
Research and development expense	—		0.2		0.8		0.2
Interest expense	—		3.7		12.1		10.4
Loss on sale of disposition	(0.4)		—		137.2		—
Other items, net	—		(3.4)		(3.9)		(7.2)
Earnings/(loss) before income taxes	0.4		(1.4)		(136.9)		(15.3)
Income tax (benefit)/expense	(0.4)		0.4		(6.6)		(2.5)
Net earnings/(loss) from discontinued operations	$	0.8	$	(1.8)	$	(130.3)	$	(12.8)