Redeemable Noncontrolling Interest (Notes)

3 Months Ended

Dec. 31, 2021

Redeemable Noncontrolling Interest, Equity, Carrying Amount [Abstract]

Redeemable noncontrolling interest disclosure

REDEEMABLE NONCONTROLLING INTEREST

At December 31, 2021, Post held 97.5 BellRing LLC units, equal to 71.5% of the economic interest in BellRing LLC. At September 30, 2021, Post held 97.5 BellRing LLC units, equal to 71.2% of the economic interest in BellRing LLC. Post may redeem BellRing LLC units for, at BellRing LLC’s option (as determined by its Board of Managers), (i) shares of Class A Common Stock or (ii) cash (based on the market price of the shares of Class A Common Stock). The redemption of BellRing LLC units for shares of Class A Common Stock will be at an initial redemption rate of one share of Class A Common Stock for one BellRing LLC unit, subject to customary redemption rate adjustments for stock splits, stock dividends and reclassifications.

Post’s ownership of BellRing LLC units represents a NCI to the Company, which is classified outside of permanent stockholders’ equity as the BellRing LLC units are redeemable at the option of Post, through Post’s ownership of BellRing’s Inc.’s share of Class B Common Stock (see Note 1). The carrying amount of the NCI is the greater of (i) the initial carrying amount, increased or decreased for the NCI’s share of net income or loss, other comprehensive income or loss (“OCI”) and distributions or dividends or (ii) the redemption value. As of December 31, 2021 and September 30, 2021, the carrying amounts of the NCI were recorded at their redemption values of $2,780.9 and $2,997.3, respectively. Changes in the redemption value of the NCI are recorded to additional paid-in capital, to the extent available, and “Accumulated deficit” on the Condensed Consolidated Balance Sheets.

BellRing Inc. owned 28.5% and 28.8% of the outstanding BellRing LLC units at December 31, 2021 and September 30, 2021, respectively. The financial results of BellRing LLC and its subsidiaries were consolidated with BellRing Inc., and the portion of the consolidated net earnings of BellRing LLC to which Post was entitled was allocated to the NCI during each period.

The following table summarizes the changes to the Company’s NCI.

	As Of and For The  Three Months Ended December 31,
	2021		2020
Beginning of period	$	2,997.3	$	2,021.6
Net earnings attributable to NCI	31.1		25.1
Net change in hedges, net of tax	0.4		0.4
Foreign currency translation adjustments	(0.3)		0.6
Redemption value adjustment to NCI	(247.6)		321.9
End of period	$	2,780.9	$	2,369.6

The following table summarizes the effects of changes in ownership in BellRing LLC on BellRing Inc.’s equity.

	Three Months Ended December 31,
	2021		2020
Net earnings available to Class A Common Stockholders	$	8.2	$	7.8
Transfers to NCI:
Redemption value adjustment to NCI	(247.6)		321.9
Changes from net earnings available to Class A Common Stockholders and transfers to NCI	$	(239.4)	$	329.7