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Financial Instruments and Risk Management (Tables)
6 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The following table provides the Company's estimated fair values as of March 31, 2021 and September 30, 2020, and the amounts of gains and losses on derivative instruments classified as cash flow hedges for the quarter and six months ended March 31, 2021 and 2020, respectively:

At March 31, 2021For the Quarter Ended March 31, 2021For the Six Months Ended March 31, 2021
Derivatives designated as Cash Flow Hedging RelationshipsEstimated Fair Value (Liability)/Asset (1)Gain/(Loss) Recognized in OCI (2)(Loss)/Gain Reclassified From OCI into Income (3)(4)(Loss)/Gain Recognized in OCI (2)Loss Reclassified From OCI into Income (3) (4)
Foreign currency contracts$(4.2)$2.6 $(3.4)$(5.3)$(6.0)
Interest rate swaps contracts16.9 21.5 (1.8)16.7 (3.1)
Zinc contracts8.5 (0.7)0.5 3.8 (0.3)
Total$21.2 $23.4 $(4.7)$15.2 $(9.4)
At September 30, 2020For the Quarter Ended March 31, 2020For the Six Months Ended March 31, 2020
Derivatives designated as Cash Flow Hedging RelationshipsEstimated Fair Value (Liability)/Asset (1)Gain/(Loss) Recognized in OCI (2)Gain/(Loss) Reclassified From OCI into Income (3)(4)Gain/(Loss) Recognized in OCI (2)Gain/(Loss) Reclassified From OCI into Income (3)(4)
Foreign currency contracts$(4.9)$7.3 $0.8 $3.3 $2.7 
Interest rate swaps contracts(7.3)(5.9)(0.6)(5.4)(1.1)
Zinc contracts4.4 (5.3)— (6.3)(0.3)
Total$(7.8)$(3.9)$0.2 $(8.4)$1.3 
(1) All derivative assets are presented in Other current assets or Other assets. All derivative liabilities are presented in Other current liabilities or Other liabilities.
(2) OCI is defined as other comprehensive income.
(3) Gain/(Loss) reclassified to Income was recorded as follows: Foreign currency contracts in Cost of products sold, interest rate contracts in Interest expense, and commodity contracts in Cost of products sold.
(4) Each of these hedging relationships has derivative instruments with a high correlation to the underlying exposure being hedged and has been deemed highly effective in offsetting the underlying risk.
Derivative Instruments, Gain (Loss)
The following table provides estimated fair values as of March 31, 2021 and September 30, 2020 and the gains and losses on derivative instruments not classified as cash flow hedges for the quarters and six months ended March 31, 2021 and 2020, respectively:

At March 31, 2021For the Quarter Ended March 31, 2021For the Six Months Ended March 31, 2021
Estimated Fair Value Asset (1)Gain Recognized in Income (2)Loss Recognized in Income (2)
Foreign currency contracts$0.3 $0.3 $(0.6)
 At September 30, 2020For the Quarter Ended March 31, 2020For the Six Months Ended March 31, 2020
Estimated Fair Value Liability (1)Loss Recognized in Income (2)Loss Recognized in Income (2) (3)
Foreign currency contracts$(0.2)$(0.7)$(1.6)
(1) All derivative assets and liabilities are presented in Other current assets or Other assets and Other current liabilities or Other liabilities, respectively.
(2) Gain / (Loss) recognized in Income was recorded as foreign currency in Other items, net.
(3) Includes a $2.2 loss on a hedge contract on the proceeds from the Varta Divestiture.
Offsetting Liabilities
Offsetting of derivative assets
At March 31, 2021At September 30, 2020
DescriptionBalance Sheet locationGross amounts of recognized assetsGross amounts offset in the Balance SheetNet amounts of assets presented in the Balance SheetGross amounts of recognized assetsGross amounts offset in the Balance SheetNet amounts of assets presented in the Balance Sheet
Foreign Currency ContractsOther Current Assets, Other Assets$1.8 $(0.7)$1.1 $0.8 $(0.4)$0.4 
Offsetting of derivative liabilities
At March 31, 2021At September 30, 2020
DescriptionBalance Sheet locationGross amounts of recognized liabilitiesGross amounts offset in the Balance SheetNet amounts of liabilities presented in the Balance SheetGross amounts of recognized liabilitiesGross amounts offset in the Balance SheetNet amounts of liabilities presented in the Balance Sheet
Foreign Currency ContractsOther Current Liabilities, Other Liabilities$(5.7)$0.7 $(5.0)$(6.0)$0.5 $(5.5)
Offsetting Assets
Offsetting of derivative assets
At March 31, 2021At September 30, 2020
DescriptionBalance Sheet locationGross amounts of recognized assetsGross amounts offset in the Balance SheetNet amounts of assets presented in the Balance SheetGross amounts of recognized assetsGross amounts offset in the Balance SheetNet amounts of assets presented in the Balance Sheet
Foreign Currency ContractsOther Current Assets, Other Assets$1.8 $(0.7)$1.1 $0.8 $(0.4)$0.4 
Offsetting of derivative liabilities
At March 31, 2021At September 30, 2020
DescriptionBalance Sheet locationGross amounts of recognized liabilitiesGross amounts offset in the Balance SheetNet amounts of liabilities presented in the Balance SheetGross amounts of recognized liabilitiesGross amounts offset in the Balance SheetNet amounts of liabilities presented in the Balance Sheet
Foreign Currency ContractsOther Current Liabilities, Other Liabilities$(5.7)$0.7 $(5.0)$(6.0)$0.5 $(5.5)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis The following table sets forth the Company's financial assets and liabilities, which are carried at fair value, as of March 31, 2021 and September 30, 2020 that are measured on a recurring basis during the period, segregated by level within the fair value hierarchy:
 Level 2
(Liabilities)/Assets at estimated fair value:March 31,
2021
September 30,
2020
Deferred compensation$(25.7)$(26.8)
Derivatives - Foreign Currency contracts(4.2)(4.9)
Derivatives - Foreign Currency contracts (non-hedge)0.3 (0.2)
Derivatives - Interest Rate Swap contracts16.9 (7.3)
Derivatives - Zinc contracts8.5 4.4 
Net Liabilities at estimated fair value$(4.2)$(34.8)