Redeemable Noncontrolling Interest (Notes)

6 Months Ended

Mar. 31, 2023

Redeemable Noncontrolling Interest, Equity, Carrying Amount [Abstract]

Redeemable noncontrolling interest disclosure

REDEEMABLE NONCONTROLLING INTERESTImmediately prior to the Spin-off, Post held 97.5 million BellRing LLC units equal to 71.5% of the economic interest in BellRing LLC. Prior to the Spin-off, Post had the right to redeem BellRing LLC units for, at BellRing LLC’s option (as determined by its Board of Managers), (i) shares of Old BellRing Class A Common Stock, at an initial redemption rate of one share of Old BellRing Class A Common Stock for one BellRing LLC unit, subject to customary redemption rate adjustments

for stock splits, stock dividends and reclassification or (ii) cash (based on the market price of the shares of Old BellRing Class A Common Stock).

Post’s ownership of BellRing LLC units prior to the Spin-off represented a NCI to the Company, which was classified outside of permanent stockholders’ equity as the BellRing LLC units were redeemable at the option of Post, through Post’s ownership of its share of Old BellRing Class B Common Stock (see Note 1). The carrying amount of the NCI was 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. Changes in the redemption value of the NCI were recorded to “Additional paid-in capital”, to the extent available, and “Accumulated deficit” on the Condensed Consolidated Statements of Stockholders’ Deficit.

Immediately prior to the Spin-off, Old BellRing owned 28.5% of the outstanding BellRing LLC units. Prior to the Spin-off, the financial results of BellRing LLC and its subsidiaries were consolidated with Old BellRing, and the portion of the consolidated net earnings of BellRing LLC to which Post was entitled was allocated to the NCI during each period.

Immediately following the Spin-off, Post owned 14.2% of the BellRing Common Stock, which did not represent a controlling interest in the Company. As a result of the Spin-off, the carrying amount of the NCI was reduced to zero. As of March 31, 2023, Post had no ownership of BellRing Common Stock.

The following table summarizes the changes to the Company’s NCI for the three and six months ended March 31, 2022. There were no changes to the Company’s NCI for the three and six months ended March 31, 2023 as the carrying amount of the NCI was reduced to zero immediately following the Spin-off in fiscal 2022.

	As of and for the Three Months Ended March 31, 2022		As of and for the  Six Months Ended March 31, 2022
Beginning of period	$	2,780.9	$	2,997.3
Net earnings attributable to NCI	2.6		33.7
Net change in hedges, net of tax	4.7		5.1
Foreign currency translation adjustments	(0.2)		(0.5)
Redemption value adjustment to NCI	(122.9)		(370.5)
Impact of Spin-off	(2,665.1)		(2,665.1)
End of period	$	—	$	—

The following table summarizes the effects of changes in NCI on the Company’s equity for the three and six months ended March 31, 2022. There were no transfers to or from NCI for the three and six months ended March 31, 2023 as the carrying amount of the NCI was reduced to zero immediately following the Spin-off in fiscal 2022.

	Three Months Ended March 31, 2022		Six Months Ended March 31, 2022
Net earnings available to common stockholders	$	1.3	$	9.5
Transfers from NCI:
Changes in equity as a result of redemption value adjustment to NCI	(122.9)		(370.5)
Increase in equity as a result of the Spin-off	(2,665.1)		(2,665.1)
Changes from net earnings available to common stockholders and transfers from NCI	$	(2,786.7)	$	(3,026.1)