FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Sep. 30, 2025

Fair Value Measurements, Recurring Basis

The following table summarizes the fair value of the Company’s assets and liabilities for which disclosure of fair value is required:


		2025				2024
	Fair Value Hierarchy Level	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Cash equivalents	Level 1	$	25.3	$	25.3	$	51.2	$	51.2




Other
Investment securities in non-qualified retirement plan assets	Level 1	32.6		32.6		32.4		32.4

Convertible debt investments	Level 3	24.6		24.6		45.8		45.8

Liabilities




Debt instruments

Credit facilities – term loans	Level 2	500.0		500.0		625.0		625.0
Senior Notes due 2031 – 4.000%	Level 2	500.0		459.4		500.0		456.3
Senior Notes due 2032 – 4.375%	Level 2	400.0		367.0		400.0		370.0
Senior Notes due 2029 – 4.500%	Level 2	450.0		437.1		450.0		432.0
Senior Notes due 2026 – 5.250%	Level 2	250.0		249.4		250.0		248.8



Other debt	Level 2	5.2		5.2		—		—

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

Changes in the balance of Level 3 convertible debt investments carried at fair value are presented below. There were no transfers into or out of Level 3.


	Year Ended September 30,
	2025		2024
Fair value at beginning of year	$	45.8	$	85.8

Total realized / unrealized gains (losses) included in net earnings	(7.0)		(64.2)
Total realized / unrealized gains / losses included in / reclassified from OCI	(3.5)		24.2
Exchange for non-voting exchangeable shares of FLUENT	(10.7)		—
Fair value at end of year	$	24.6	$	45.8

Debt Securities, Available-for-Sale, Allowance for Credit Loss

A progression of the allowance for expected credit losses on convertible debt investments is shown below:


	Year Ended September 30,
	2025		2024
Balance at beginning of year	$	1.9	$	101.3


Reductions for securities sold / exchanged	—		(99.4)
Balance at end of year	$	1.9	$	1.9

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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