Benefit Plans

12 Months Ended

Sep. 30, 2025

Retirement Benefits [Abstract]

Benefit Plans

Note 19 — Benefit Plans

Defined Benefit Plans

The Company's retiree benefit plans include defined benefit plans for employees in its affiliates in Switzerland (the "Swiss Plan") as well as other insignificant defined benefit plans in other countries where the Company maintains an operating presence. These Consolidated Financial Statements reflect the periodic benefit costs and funded status of such plans. The Company uses September 30 as the year-end measurement date.

The Company's Swiss Plan is a government-mandated retirement account balance plan. Companies within the Swiss regulatory environment have substantial freedom in setting their pension plan design (e.g. with regards to the salary covered, level of retirement benefits, or overall benefit design) provided the benefits are always at least equal to the minimum requirements as defined by law. Most employers provide higher benefits than those required by law, which is the case for Embecta. The minimum level of retirement benefit is expressed by an account balance formula with age-related contribution rates based on an insured salary defined by law, and a minimum required interest crediting rate which is set by the government (1.25% in 2025 and 2024 and 1.00% in 2023). The sum of the Company's contributions should be at least equal to the sum of employee contributions. Contributions to the Swiss Plan are invested into a diversified fund managed by an investment fiduciary. As of September 30, 2025 and 2024, the Swiss plan had an unfunded net pension obligation of $3.9 million and $4.0 million, respectively, and plan assets that totaled $21.1 million, and $18.4 million, respectively. Net periodic benefit cost was not material to the Company's Consolidated Statements of Income for any period presented.

Defined Contribution Plans

The Company has various defined contribution savings plans that cover substantially all employees in the United States, Ireland, and Japan. The Company matches a certain percentage of each employee’s contributions as per the provisions of the plans. Total employer contributions by the Company to the plans were $14.3 million, $15.1 million and $14.1 million for the fiscal years ended September 30, 2025, 2024 and 2023, respectively.

Deferred Compensation Plan

The Company has a Deferred Compensation Plan in which certain directors and employees of the Company may defer the payment and taxation of up to 75% of their base salary and up to 100% of bonus amounts and other eligible cash compensation. A participant's deferrals are “invested” at the direction of the employee in a hypothetical portfolio of investments which are tracked by an administrator. The amounts accrued under this plan were $12.1 million and $10.0 million as of September 30, 2025 and 2024, respectively.