Related Party Transactions (Notes)

12 Months Ended

Sep. 30, 2024

Related Party Transactions [Abstract]

Related party transactions

RELATED PARTY TRANSACTIONS

Both prior to and subsequent to the Spin-off, transactions with Post were considered related party transactions as certain of the Company’s officers and/or directors serve as officers and/or directors of Post.

The MSA and Royalties

The Company uses certain functions and services performed by Post under a master services agreement (the “MSA”). These functions and services include finance, internal audit, treasury, information technology support, insurance and tax matters, the use of office and/or data center space, payroll processing services and tax compliance services. Prior to the Spin-off, Post also provided legal services to the Company. The MSA was amended and restated upon completion of the Spin-off to provide for similar services following the Spin-off and such other services as BellRing and Post may agree. The MSA was further amended on August 4, 2023 to modify the scope and pricing, and extended the term of certain services provided under it, none of which modifications are expected to materially increase the aggregate fees payable under the MSA. During the years ended September 30, 2024, 2023 and 2022, MSA fees were $3.4, $4.0 and $4.6, respectively. MSA fees were reported in “Selling, general and administrative expenses” in the Consolidated Statements of Operations.

The Company licenses certain intellectual property to and from Post and its subsidiaries based upon prices governed by agreements between the Company and Post and its subsidiaries, consistent with prices of similar arm's-length transactions. During each of the years ended September 30, 2024, 2023 and 2022, royalties paid to and received from Post and its subsidiaries were immaterial.

Co-Packing Agreement

On September 30, 2022, Premier Nutrition Company, LLC (“Premier Nutrition”), a subsidiary of the Company, entered into a co-packing agreement with Comet Processing, Inc. (“Comet”), a wholly-owned subsidiary of Post (the “Co-Packing Agreement”). Under the Co-Packing Agreement, Premier Nutrition procures certain packaging materials for Comet that Comet utilizes in the production of RTD shakes for Premier Nutrition. In December 2023, in accordance with the terms of the Co-Packing Agreement, Comet began manufacturing RTD shakes for Premier Nutrition. During the year ended September 30, 2024, purchases of RTD shakes manufactured by Comet were $8.6. There were no purchases of RTD shakes manufactured by Comet during fiscal 2023 or 2022.

As of September 30, 2024 and 2023, the Company had current payables with Post of $1.5 and $2.5, respectively, related to RTD shake purchases and MSA fees in the current year and reimbursable start-up costs in the prior year, which were included in “Accounts payable” on the Consolidated Balance Sheets. Current receivables with Post at both September 30, 2024 and 2023 were immaterial.

Stock Based Compensation

Prior to the IPO, the Company’s employees participated in various Post long-term incentive plans which issued awards connected to Post common stock (“Post Equity Awards”). Subsequent to the IPO, BellRing employees were no longer eligible to receive new issuances of Post Equity Awards; however, BellRing employees continued to vest in any issued and outstanding Post Equity Awards, pursuant to the terms of the awards, and the Company incurred pass-through charges from Post relating to these awards. During each of the years ended September 30, 2023 and 2022, total compensation cost related to the Post Equity Awards recognized by the Company was immaterial, and all Post Equity Awards had vested as of September 30, 2023. There was no compensation cost related to the Post Equity Awards recognized by the Company during the year ended September 30, 2024.