Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Schedule of inventories
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               September 30,
  2021 2020
Finished goods $ 154.5  $ 163.4 
Raw materials and components 153.1  133.3 
Work in process 104.0  88.7 
Total inventories $ 411.6  $ 385.4 
Schedule of carrying value of property, plant and equipment
  September 30, 2021 September 30, 2020
  Cost Accumulated
Depreciation
Cost Accumulated
Depreciation
Land and land improvements $ 26.2  $ (3.8) $ 27.8  $ (3.6)
Buildings and building equipment 164.7  (79.1) 159.4  (70.1)
Machinery and equipment 485.8  (298.7) 469.1  (268.4)
Total $ 676.7  $ (381.6) $ 656.3  $ (342.1)
Schedule of intangible assets and related amortization
The impairment charges to goodwill and the intangible assets were nondeductible for tax purposes. The following table summarizes the impairment charges during the second quarter of 2020 by reportable operating segment recorded by the Company during the year-ended September 30, 2020:
Advanced Process Solutions
Molding Technology Solutions Total
Goodwill $ 72.3  $ —  $ 72.3 
Trade names 0.7  7.9  8.6 
Technology, including patents —  1.6  1.6 
Total $ 73.0  $ 9.5  $ 82.5 
  September 30, 2021 September 30, 2020
  Cost Accumulated
Amortization
Cost Accumulated
Amortization
Finite-lived assets:        
Trade names $ —  $ —  $ 0.2  $ (0.2)
Customer relationships 798.8  (195.4) 787.6  (151.8)
Technology, including patents 137.6  (62.7) 137.6  (51.0)
Software 68.3  (59.4) 65.6  (54.1)
Backlog —  —  10.0  (10.0)
Other —  —  0.1  (0.1)
  1,004.7  (317.5) 1,001.1  (267.2)
Indefinite-lived assets:        
Trade names 226.6  —  226.8  — 
Total $ 1,231.3  $ (317.5) $ 1,227.9  $ (267.2)
Changes in the carrying amount of goodwill
The following table summarizes the changes in the Company’s goodwill, by reportable segment, for the years ended September 30, 2021 and 2020:
 
Advanced Process Solutions
Molding Technology Solutions Batesville Total
Balance September 30, 2019 $ 462.4  $ —  $ 8.3  $ 470.7 
Acquisitions (1)
1.7  714.7  —  716.4 
Divestiture (2)
—  (77.9) —  (77.9)
Foreign currency adjustments 21.0  7.6  —  28.6 
September 30, 2020 (3)
485.1  644.4  8.3  1,137.8 
Acquisitions (1)
—  19.6  —  19.6 
Foreign currency adjustments (0.2) 11.4  —  11.2 
Balance September 30, 2021 $ 484.9  $ 675.4  $ 8.3  $ 1,168.6 
(1)See Note 4 for further information on the acquisitions of Milacron
(2)See Note 4 for further information on the divestiture of Cimcool and flow control businesses.
(3)The goodwill impairment charges recorded during 2020 for the reporting units within the Advanced Process Solutions reportable operating segment are not shown in the table above as the related goodwill is classified as assets held for sale on the Consolidated Balance Sheets. See Note 4 for further information.
Schedule of changes in accumulated other comprehensive income (loss) by component
  September 30,
  2021 2020
Currency translation $ 13.1  $ (21.1)
Pension and postretirement (net of taxes of $17.8 and $24.2) (49.2) (69.6)
Unrealized loss on derivative instruments (net of taxes of $0.7 and $0.7) (10.2) (12.1)
Accumulated other comprehensive loss $ (46.3) $ (102.8)