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COMBINED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (Condensed) (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
Income Statement [Abstract]        
Net sales $ 685.1 $ 587.0 $ 1,533.7 $ 1,323.8
Cost of products sold 414.6 351.4 925.3 786.9
Gross profit 270.5 235.6 608.4 536.9
Selling, general and administrative expense 123.8 116.1 247.9 238.2
Advertising and sales promotion expense 27.1 22.8 76.7 69.6
Research and development expense 9.0 8.3 16.6 17.2
Amortization of intangible assets 15.3 14.2 30.8 28.0
Interest expense 39.1 47.2 86.4 94.0
Loss on extinguishment of debt 70.0 0.0 75.7 4.2
Total Other items, net (0.1) 5.1 0.7 5.1
Loss / (earnings) before income taxes (13.7) 21.9 73.6 80.6
Income tax (benefit)/provision (3.5) 8.2 16.7 21.1
Net (loss)/earnings from continuing operations   13.7 56.9 59.5
Net loss from discontinued operations, net of income tax benefit of $13.7 and $6.2 for the quarter and six months ended March 31, 2020   (131.4) 0.0 (131.1)
Net (loss)/earnings (10.2) (117.7) 56.9 (71.6)
Mandatory preferred stock dividends (4.1) (4.1) (8.1) (8.1)
Net (loss)/earnings attributable to common shareholders $ (14.3) $ (121.8) $ 48.8 $ (79.7)
Basic net (loss)/earnings per common share- continuing operations (in dollars per share) $ (0.21) $ 0.14 $ 0.71 $ 0.74
Basic net loss per common share- discontinued operations (in dollars per share) 0 (1.90) 0 (1.89)
Basic net (loss)/earnings per common share (in dollars per share) (0.21) (1.76) 0.71 (1.15)
Diluted net (loss)/earnings per common share- continuing operations (in dollars per share) (0.21) 0.14 0.71 0.74
Diluted net loss per common share- discontinued operations (in dollars per share) 0 (1.89) 0 (1.88)
Diluted net (loss)/earnings per common share (in dollars per share) $ (0.21) $ (1.75) $ 0.71 $ (1.14)
Weighted average shares of common stock - Basic (shares) 68.4 69.1 68.5 69.1
Weighted average shares of common stock - Diluted (shares) 68.4 69.5 68.8 69.8
Statements of Comprehensive Income:        
Net earnings/(loss) $ (10.2) $ (117.7) $ 56.9 $ (71.6)
Other comprehensive income/(loss), net of tax expense/(benefit)        
Foreign currency translation adjustments 20.7 (35.2) 26.2 (5.2)
Pension activity, net of tax of $0.8 and $1.3 for the quarter and six months ended March 31, 2021, respectively, and $1.2 and $1.7 for the quarter and six months ended March 31, 2020, respectively. 2.5 5.4 2.0 5.2
Deferred gain/(loss) on hedging activity, net of tax of $6.7 and $5.8 for the quarter and six months ended March 31,2021, respectively and ($1.2) and ($2.2) for the quarter and six months ended March 31, 2020, respectively. 21.4 (4.2) 18.8 (8.8)
Total comprehensive income/(loss) $ 34.4 $ (151.7) $ 103.9 $ (80.4)