Other Comprehensive (Loss) Income The following table summarize the changes in the accumulated balances for each component of accumulated other comprehensive loss during the year ended September 30, 2020:
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Pension and Postretirement |
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Currency Translation |
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Net Unrealized Gain (Loss) on Derivative Instruments |
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Total Attributable to Hillenbrand, Inc. |
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Noncontrolling Interests |
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Total |
Balance at September 30, 2019 |
$ |
(62.3) |
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$ |
(64.7) |
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$ |
(13.6) |
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$ |
(140.6) |
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Other comprehensive (loss) income before reclassifications |
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Before tax amount |
(8.5) |
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43.6 |
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(1.2) |
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33.9 |
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$ |
(0.5) |
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$ |
33.4 |
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Tax benefit |
2.0 |
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— |
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0.2 |
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2.2 |
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— |
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2.2 |
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After tax amount |
(6.5) |
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43.6 |
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(1.0) |
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36.1 |
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(0.5) |
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35.6 |
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Amounts reclassified from accumulated other comprehensive loss (1)
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5.2 |
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— |
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2.5 |
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7.7 |
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— |
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7.7 |
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Net current period other comprehensive (loss) income |
(1.3) |
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43.6 |
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1.5 |
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43.8 |
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$ |
(0.5) |
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$ |
43.3 |
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Reclassification of certain income tax effects (2)
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(6.0) |
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— |
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— |
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(6.0) |
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Balance at September 30, 2020 |
$ |
(69.6) |
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$ |
(21.1) |
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$ |
(12.1) |
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$ |
(102.8) |
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(1) Amounts are net of tax.
(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.
Reclassifications out of accumulated other comprehensive loss include:
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Year Ended September 30, 2020 |
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Amortization of Pension and
Postretirement (1)
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(Gain)/Loss on Derivative Instruments |
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Net Loss Recognized |
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Prior Service Costs Recognized |
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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) |
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Cost of goods sold |
— |
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— |
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0.8 |
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0.8 |
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Other income (expense), net |
7.1 |
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— |
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2.0 |
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9.1 |
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Total before tax |
$ |
7.1 |
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$ |
— |
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$ |
2.6 |
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9.7 |
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Tax benefit |
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(2.0) |
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Total reclassifications for the period, net of tax |
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$ |
7.7 |
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(1)These accumulated other comprehensive loss components are included in the computation of net pension cost (see Note 7).
The following table summarize the changes in the accumulated balances for each component of accumulated other comprehensive loss during the year ended September 30, 2019:
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Pension and Postretirement |
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Currency Translation |
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Net Unrealized Gain (Loss) on Derivative Instruments |
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Total Attributable to Hillenbrand, Inc. |
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Noncontrolling Interests |
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Total |
Balance at September 30, 2018 |
$ |
(41.0) |
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$ |
(44.1) |
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$ |
0.9 |
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$ |
(84.2) |
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Other comprehensive loss before reclassifications |
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Before tax amount |
(30.7) |
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(20.6) |
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(20.6) |
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(71.9) |
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$ |
— |
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$ |
(71.9) |
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Tax benefit |
8.2 |
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— |
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1.6 |
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9.8 |
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— |
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9.8 |
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After tax amount |
(22.5) |
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(20.6) |
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(19.0) |
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(62.1) |
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— |
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(62.1) |
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Amounts reclassified from accumulated other comprehensive loss (1)
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1.2 |
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— |
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4.5 |
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5.7 |
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— |
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5.7 |
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Net current period other comprehensive loss |
(21.3) |
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(20.6) |
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(14.5) |
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(56.4) |
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$ |
— |
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$ |
(56.4) |
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Balance at September 30, 2019 |
$ |
(62.3) |
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$ |
(64.7) |
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$ |
(13.6) |
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$ |
(140.6) |
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(1) Amounts are net of tax.
Reclassifications out of accumulated other comprehensive loss include:
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Year Ended September 30, 2019 |
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Amortization of Pension and
Postretirement (1)
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(Gain)/Loss on Derivative Instruments |
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Net Loss Recognized |
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Prior Service Costs Recognized |
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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 |
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Cost of goods sold |
— |
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— |
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(0.8) |
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(0.8) |
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Other income (expense), net |
1.7 |
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— |
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6.5 |
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8.2 |
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Total before tax |
$ |
1.7 |
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$ |
— |
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$ |
5.9 |
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7.6 |
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Tax benefit |
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(1.9) |
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Total reclassifications for the period, net of tax |
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$ |
5.7 |
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(1)These accumulated other comprehensive loss components are included in the computation of net pension cost (see Note 7).
The following table summarize the changes in the accumulated balances for each component of accumulated other comprehensive loss during the year ended September 30, 2018:
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Pension and Postretirement |
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Currency Translation |
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Net Unrealized Gain (Loss) on Derivative Instruments |
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Total Attributable to Hillenbrand, Inc. |
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Noncontrolling Interests |
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Total |
Balance at September 30, 2017 |
$ |
(45.3) |
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$ |
(36.9) |
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$ |
1.0 |
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$ |
(81.2) |
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Other comprehensive income (loss) before reclassifications |
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Before tax amount |
1.8 |
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(7.2) |
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1.8 |
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(3.6) |
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$ |
(0.7) |
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$ |
(4.3) |
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Tax expense |
(0.5) |
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— |
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(0.6) |
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|
(1.1) |
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— |
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(1.1) |
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After tax amount |
1.3 |
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(7.2) |
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1.2 |
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(4.7) |
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(0.7) |
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(5.4) |
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Amounts reclassified from accumulated other comprehensive loss (1)
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3.0 |
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— |
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(1.3) |
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1.7 |
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— |
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1.7 |
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Net current period other comprehensive income (loss) |
4.3 |
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(7.2) |
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(0.1) |
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(3.0) |
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$ |
(0.7) |
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$ |
(3.7) |
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Balance at September 30, 2018 |
$ |
(41.0) |
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$ |
(44.1) |
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$ |
0.9 |
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$ |
(84.2) |
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(1) Amounts are net of tax.
Reclassifications out of accumulated other comprehensive loss include:
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Year Ended September 30, 2018 |
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Amortization of Pension and
Postretirement (1)
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(Gain)/Loss on Derivative Instruments |
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Net Loss Recognized |
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Prior Service Costs Recognized |
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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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$ |
0.5 |
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$ |
0.5 |
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Cost of goods sold |
— |
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— |
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(0.1) |
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|
(0.1) |
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Other income (expense), net |
3.6 |
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0.2 |
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(2.3) |
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1.5 |
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Total before tax |
$ |
3.6 |
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$ |
0.2 |
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$ |
(1.9) |
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1.9 |
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Tax benefit |
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(0.2) |
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Total reclassifications for the period, net of tax |
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$ |
1.7 |
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(1)These accumulated other comprehensive loss components are included in the computation of net pension cost (see Note 7).
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