Other Comprehensive Loss
The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive loss:
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Pension and
Postretirement
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Currency
Translation
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Net
Unrealized
Gain (Loss)
on Derivative
Instruments
|
|
Total
Attributable
to
Hillenbrand,
Inc.
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Noncontrolling
Interests
|
|
Total |
Balance at September 30, 2019 |
$ |
(62.3 |
) |
|
$ |
(64.7 |
) |
|
$ |
(13.6 |
) |
|
$ |
(140.6 |
) |
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Other comprehensive loss before reclassifications: |
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Before tax amount |
— |
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|
(12.3 |
) |
|
(3.0 |
) |
|
(15.3 |
) |
|
$ |
(0.6 |
) |
|
$ |
(15.9 |
) |
Tax benefit |
— |
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|
— |
|
|
0.6 |
|
|
0.6 |
|
|
— |
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|
0.6 |
|
After tax amount |
— |
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|
(12.3 |
) |
|
(2.4 |
) |
|
(14.7 |
) |
|
(0.6 |
) |
|
(15.3 |
) |
Amounts reclassified from accumulated other comprehensive loss(1)
|
2.5 |
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|
— |
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|
0.5 |
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3.0 |
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— |
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|
3.0 |
|
Net current period other comprehensive income (loss) |
2.5 |
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|
(12.3 |
) |
|
(1.9 |
) |
|
(11.7 |
) |
|
$ |
(0.6 |
) |
|
$ |
(12.3 |
) |
Reclassification of certain income tax effects (2)
|
(6.0 |
) |
|
— |
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|
— |
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|
(6.0 |
) |
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Balance at March 31, 2020 |
$ |
(65.8 |
) |
|
$ |
(77.0 |
) |
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$ |
(15.5 |
) |
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$ |
(158.3 |
) |
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(1) |
Amounts are net of tax. |
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(2) |
Income tax effects of the Tax Act were reclassified from accumulated other comprehensive loss to retained earnings due to the adoption of ASU 2018-02. See Note 2 for more information. |
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|
Pension and
Postretirement
|
|
Currency
Translation
|
|
Net
Unrealized
Gain (Loss)
on Derivative
Instruments
|
|
Total
Attributable
to
Hillenbrand,
Inc.
|
|
Noncontrolling
Interests
|
|
Total |
Balance at September 30, 2018 |
$ |
(41.0 |
) |
|
$ |
(44.1 |
) |
|
$ |
0.9 |
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$ |
(84.2 |
) |
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Other comprehensive (loss) income before reclassifications: |
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Before tax amount |
— |
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|
(9.7 |
) |
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(11.0 |
) |
|
(20.7 |
) |
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$ |
0.2 |
|
|
$ |
(20.5 |
) |
Tax benefit |
— |
|
|
— |
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|
2.6 |
|
|
2.6 |
|
|
— |
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|
2.6 |
|
After tax amount |
— |
|
|
(9.7 |
) |
|
(8.4 |
) |
|
(18.1 |
) |
|
0.2 |
|
|
(17.9 |
) |
Amounts reclassified from accumulated other comprehensive loss(1)
|
0.5 |
|
|
— |
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|
— |
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|
0.5 |
|
|
— |
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|
0.5 |
|
Net current period other comprehensive income (loss) |
0.5 |
|
|
(9.7 |
) |
|
(8.4 |
) |
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(17.6 |
) |
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$ |
0.2 |
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$ |
(17.4 |
) |
Balance at March 31, 2019 |
$ |
(40.5 |
) |
|
$ |
(53.8 |
) |
|
$ |
(7.5 |
) |
|
$ |
(101.8 |
) |
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(1) |
Amounts are net of tax. |
Reclassifications out of accumulated other comprehensive loss include:
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Three Months Ended March 31, 2020 |
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Amortization of Pension and Postretirement (1)
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(Gain) Loss on |
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Net Loss Recognized |
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Prior Service Costs Recognized |
|
Derivative Instruments |
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Total |
Affected Line in the Consolidated Statement of Operations: |
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Net revenue |
$ |
— |
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$ |
— |
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$ |
(0.3 |
) |
|
$ |
(0.3 |
) |
Cost of goods sold |
— |
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|
— |
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|
(0.2 |
) |
|
(0.2 |
) |
Other (expense) income, net |
1.9 |
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(0.1 |
) |
|
0.5 |
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|
2.3 |
|
Total before tax |
$ |
1.9 |
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$ |
(0.1 |
) |
|
$ |
— |
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$ |
1.8 |
|
Tax benefit |
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|
(0.3 |
) |
Total reclassifications for the period, net of tax |
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$ |
1.5 |
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Six Months Ended March 31, 2020 |
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Amortization of Pension and Postretirement (1)
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(Gain) Loss on |
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Net Loss Recognized |
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Prior Service Costs Recognized |
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Derivative Instruments |
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Total |
Affected Line in the Consolidated Statement of Operations: |
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Net revenue |
$ |
— |
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$ |
— |
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$ |
(0.2 |
) |
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$ |
(0.2 |
) |
Cost of goods sold |
— |
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|
— |
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|
(0.4 |
) |
|
(0.4 |
) |
Other (expense) income, net |
3.5 |
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(0.1 |
) |
|
1.0 |
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|
4.4 |
|
Total before tax |
$ |
3.5 |
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$ |
(0.1 |
) |
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$ |
0.4 |
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$ |
3.8 |
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Tax benefit |
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(0.8 |
) |
Total reclassifications for the period, net of tax |
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$ |
3.0 |
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(1) |
These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 9). |
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Three Months Ended March 31, 2019 |
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Amortization of Pension and
Postretirement (1)
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Loss (Gain) on |
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Net Loss
Recognized
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Prior Service Costs
Recognized
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Derivative
Instruments
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Total |
Affected Line in the Consolidated Statement of Operations: |
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Net revenue |
$ |
— |
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$ |
— |
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$ |
0.1 |
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$ |
0.1 |
|
Cost of goods sold |
— |
|
|
— |
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|
(0.1 |
) |
|
(0.1 |
) |
Other (expense) income, net |
0.4 |
|
|
— |
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|
— |
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|
0.4 |
|
Total before tax |
$ |
0.4 |
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|
$ |
— |
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$ |
— |
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$ |
0.4 |
|
Tax benefit |
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|
(0.1 |
) |
Total reclassifications for the period, net of tax |
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$ |
0.3 |
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Six Months Ended March 31, 2019 |
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Amortization of Pension and
Postretirement (1)
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(Gain)/Loss on |
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Net Loss
Recognized
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Prior Service Costs
Recognized
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Derivative
Instruments
|
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Total |
Affected Line in the Consolidated Statement of Operations: |
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Net revenue |
$ |
— |
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$ |
— |
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$ |
0.2 |
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$ |
0.2 |
|
Cost of goods sold |
— |
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|
— |
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|
(0.2 |
) |
|
(0.2 |
) |
Other (expense) income, net |
0.7 |
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|
— |
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|
— |
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|
0.7 |
|
Total before tax |
$ |
0.7 |
|
|
$ |
— |
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|
$ |
— |
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$ |
0.7 |
|
Tax benefit |
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|
|
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|
(0.2 |
) |
Total reclassifications for the period, net of tax |
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|
$ |
0.5 |
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|