Accumulated 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 |
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Total Attributable to Hillenbrand, Inc. |
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Noncontrolling Interests |
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Total |
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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Other comprehensive income (loss) before reclassifications |
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Before tax amount |
— |
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59.2 |
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1.7 |
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60.9 |
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$ |
0.1 |
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$ |
61.0 |
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Tax expense |
— |
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— |
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(0.4) |
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(0.4) |
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— |
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(0.4) |
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After tax amount |
— |
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59.2 |
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1.3 |
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60.5 |
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0.1 |
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60.6 |
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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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0.4 |
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1.6 |
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— |
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1.6 |
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Net current period other comprehensive income (loss) |
1.2 |
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59.2 |
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1.7 |
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62.1 |
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0.1 |
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$ |
62.2 |
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Balance at December 31, 2020 |
$ |
(68.4) |
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$ |
38.1 |
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$ |
(10.4) |
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$ |
(40.7) |
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(1)Amounts are net of tax.
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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 income (loss) before reclassifications |
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Before tax amount |
— |
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17.4 |
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1.3 |
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18.7 |
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$ |
(0.1) |
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$ |
18.6 |
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Tax expense |
— |
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— |
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(0.3) |
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(0.3) |
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— |
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(0.3) |
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After tax amount |
— |
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17.4 |
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1.0 |
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18.4 |
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(0.1) |
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18.3 |
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Amounts reclassified from accumulated other comprehensive loss(1)
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1.1 |
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— |
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0.4 |
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1.5 |
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— |
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1.5 |
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Net current period other comprehensive income (loss) |
1.1 |
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17.4 |
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1.4 |
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19.9 |
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$ |
(0.1) |
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$ |
19.8 |
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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 December 31, 2019 |
$ |
(67.2) |
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$ |
(47.3) |
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$ |
(12.2) |
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$ |
(126.7) |
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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.
Reclassifications out of accumulated other comprehensive loss include:
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Three Months Ended December 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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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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$ |
— |
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Cost of goods sold |
— |
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— |
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— |
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Other income, net |
1.3 |
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0.5 |
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1.8 |
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Total before tax |
$ |
1.3 |
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$ |
0.5 |
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$ |
1.8 |
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Tax expense |
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(0.2) |
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Total reclassifications for the period, net of tax |
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$ |
1.6 |
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(1)These accumulated other comprehensive loss components are included in the computation of net periodic pension (benefit) cost (see Note 9).
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Three Months Ended December 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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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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$ |
0.1 |
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$ |
0.1 |
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Cost of goods sold |
— |
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(0.2) |
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(0.2) |
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Other income, net |
1.6 |
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0.5 |
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2.1 |
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Total before tax |
$ |
1.6 |
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$ |
0.4 |
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$ |
2.0 |
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Tax expense |
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(0.5) |
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Total reclassifications for the period, net of tax |
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$ |
1.5 |
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