Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Mar. 31, 2013 | Nov. 13, 2012 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Fiscal Period Focus | 'Q4 | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Registrant Name | 'Mueller Water Products, Inc. | ' | ' |
Entity Central Index Key | '0001350593 | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 158,364,204 |
Entity Public Float | ' | $921,010,549 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Assets: | ' | ' |
Cash and cash equivalents | $123.60 | $83 |
Receivables, net | 164.5 | 166.1 |
Inventories | 208.5 | 183.2 |
Deferred income taxes | 26.7 | 19.6 |
Other current assets | 46.1 | 38 |
Total current assets | 569.4 | 489.9 |
Property, plant and equipment, net | 141.9 | 137.9 |
Identifiable intangible assets | 553.1 | 580.5 |
Other noncurrent assets | 17.5 | 32.6 |
Total assets | 1,281.90 | 1,240.90 |
Liabilities and stockholders' equity: | ' | ' |
Current portion of long-term debt | 1.3 | 1.1 |
Accounts payable | 101.2 | 84.5 |
Other current liabilities | 80.6 | 82.8 |
Total current liabilities | 183.1 | 168.4 |
Long-term debt | 599.5 | 621.7 |
Deferred income taxes | 141.5 | 132.8 |
Other noncurrent liabilities | 29.6 | 86.8 |
Total liabilities | 953.7 | 1,009.70 |
Common Stock | 1.6 | 1.6 |
Additional paid-in capital | 1,584.40 | 1,587.30 |
Accumulated deficit | -1,229.20 | -1,270 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -28.6 | -87.7 |
Total stockholders' equity | 328.2 | 231.2 |
Total liabilities and stockholders' equity | $1,281.90 | $1,240.90 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Series A common stock, shares authorized | 600,000,000 | 600,000,000 |
Series A common stock, shares outstanding | 158,234,300 | 156,840,648 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Net sales | $1,120.80 | $1,023.90 | $964.60 |
Cost of sales | 807.6 | 752.8 | 716.5 |
Gross profit | 313.2 | 271.1 | 248.1 |
Operating expenses: | ' | ' | ' |
Selling, general and administrative | 214.4 | 204.2 | 191.8 |
Restructuring | 1.5 | 2.8 | 3.6 |
Total operating expenses | 215.9 | 207 | 195.4 |
Operating income | 97.3 | 64.1 | 52.7 |
Interest expense, net | 51.7 | 59.9 | 65.6 |
Loss on early extinguishment of debt | 1.4 | 1.5 | 0 |
Income (loss) before income taxes | 44.2 | 2.7 | -12.9 |
Income tax expense (benefit) | 8.8 | 7.9 | -2.9 |
Income (loss) from continuing operations | 35.4 | -5.2 | -10 |
Income (loss) from discontinued operations, net of tax | 5.4 | -103.2 | -28.1 |
Net income (loss) | $40.80 | ($108.40) | ($38.10) |
Net loss per basic share: | ' | ' | ' |
Continuing operations, in dollars per share | $0.23 | ($0.03) | ($0.07) |
Discontinued operations, in dollars per share | $0.03 | ($0.66) | ($0.18) |
Net income (loss) per basic share | $0.26 | ($0.69) | ($0.25) |
Net loss per diluted share: | ' | ' | ' |
Continuing operations, in dollars per share | $0.22 | ($0.03) | ($0.07) |
Discontinued operations, in dollars per share | $0.03 | ($0.66) | ($0.18) |
Net income (loss) per diluted share | $0.25 | ($0.69) | ($0.25) |
Weighted average shares outstanding: | ' | ' | ' |
Basic, in shares | 157.7 | 156.5 | 155.3 |
Diluted, in shares | 160.3 | 156.5 | 155.3 |
Dividends declared per share, in dollars per share | $0.07 | $0.07 | $0.07 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income Statement (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Net income (loss) | $40.80 | ($108.40) | ($38.10) |
Other comprehensive income (loss): | ' | ' | ' |
Minimum pension liability | -55.2 | 39.8 | -19.2 |
Income tax effects | 6.3 | 0.4 | -7.6 |
Other | 0 | 0 | -0.6 |
Foreign currency translation | -2.4 | 2.9 | -1.1 |
Amortization of interest expense on terminated swap contracts | 0 | -5 | -8 |
Income tax effects | 0 | -2 | -3.1 |
Other Comprehensive Income (Loss), Net of Tax | 59.1 | -33.5 | 16 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $99.90 | ($141.90) | ($22.10) |
Consolidated_Statement_Of_Stoc
Consolidated Statement Of Stockholders' Equity (USD $) | Total | Common stock | Additional paid-in capital | Accumulated deficit | Accumulated other comprehensive income (loss) |
In Millions, unless otherwise specified | |||||
Balance at Sep. 30, 2010 | $405.30 | $1.50 | $1,597.50 | ($1,123.50) | ($70.20) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net income (loss) | -38.1 | 0 | 0 | -38.1 | 0 |
Dividends declared | 10.9 | 0 | -10.9 | 0 | 0 |
Stock-based compensation | 5.7 | 0 | 5.7 | 0 | 0 |
Shares retained for employee taxes | -0.3 | 0 | -0.3 | 0 | 0 |
Stock issued under stock compensation plans | 1.3 | 0.1 | 1.2 | 0 | 0 |
Other Comprehensive Income (Loss), Net of Tax | 16 | 0 | 0 | 0 | 16 |
Balance at Sep. 30, 2011 | 379 | 1.6 | 1,593.20 | -1,161.60 | -54.2 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net income (loss) | -108.4 | 0 | 0 | -108.4 | 0 |
Dividends declared | 11 | 0 | -11 | 0 | 0 |
Stock-based compensation | 4.9 | 0 | 4.9 | 0 | 0 |
Shares retained for employee taxes | -0.5 | 0 | -0.5 | 0 | 0 |
Stock issued under stock compensation plans | 0.7 | 0 | 0.7 | 0 | 0 |
Other Comprehensive Income (Loss), Net of Tax | -33.5 | 0 | 0 | 0 | -33.5 |
Balance at Sep. 30, 2012 | 231.2 | 1.6 | 1,587.30 | -1,270 | -87.7 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net income (loss) | 40.8 | 0 | 0 | 40.8 | 0 |
Dividends declared | 11 | 0 | -11 | 0 | 0 |
Stock-based compensation | 6.5 | 0 | 6.5 | 0 | 0 |
Shares retained for employee taxes | -1.5 | 0 | ' | 0 | 0 |
Stock issued under stock compensation plans | 3.1 | 0 | 3.1 | 0 | 0 |
Other Comprehensive Income (Loss), Net of Tax | 59.1 | 0 | 0 | 0 | 59.1 |
Balance at Sep. 30, 2013 | $328.20 | $1.60 | $1,584.40 | ($1,229.20) | ($28.60) |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Net income (loss) | $40.80 | ($108.40) | ($38.10) |
Adjustments to reconcile net income (loss) to income (loss) from continuing operations: | ' | ' | ' |
Income (loss) from discontinued operations, net of tax | -5.4 | 103.2 | 28.1 |
Income (loss) from continuing operations | 35.4 | -5.2 | -10 |
Depreciation | 27.4 | 29.7 | 33.4 |
Amortization | 31.8 | 30.9 | 29.7 |
Stock-based compensation expense | 7.1 | 5.1 | 5 |
Deferred income taxes | 7.3 | 7.6 | -5.9 |
Retirement plans | 4.3 | 4.6 | 7.5 |
Loss on early extinguishment of debt | 1.4 | 1.5 | 0 |
Interest rate swap contracts | 0 | 5 | 8 |
Other, net | 2.3 | 3 | 5.1 |
Changes in assets and liabilities, net of acquisitions: | ' | ' | ' |
Receivables | 0.9 | -17.6 | -13.6 |
Inventories | -25.9 | -6 | 24.7 |
Other current assets and other noncurrent assets | 1.8 | 13.5 | 1.9 |
Accounts payable and other liabilities | 20.3 | 4.7 | -33.7 |
Net cash provided by (used in) operating activities | 114.1 | 76.8 | 52.1 |
Investing activities: | ' | ' | ' |
Capital expenditures | -35.6 | -31.4 | -23.1 |
Acquisitions, net of cash acquired | -1.1 | -1.3 | -9.2 |
Proceeds from sales of assets | 0.5 | 0.3 | 1.1 |
Net cash provided by (used in) investing activities | -36.2 | -32.4 | -31.2 |
Financing activities: | ' | ' | ' |
Debt paid or repurchased | 0 | -34 | -15 |
Early repayment of long-term debt | 23.2 | 23.2 | 0 |
Dividends paid | -11 | -11 | -10.9 |
Common stock issued | 3.1 | 0.7 | 1.3 |
Shares retained for employee taxes | -1.5 | -0.5 | -0.3 |
Payment of deferred financing fees | -0.7 | 0 | -0.4 |
Other | -2.4 | -0.1 | 2.4 |
Net cash used in financing activities | -35.7 | -68.1 | -22.9 |
Effect of currency exchange rate changes on cash | -1.2 | 1.5 | -0.4 |
Net Cash Provided by (Used in) Discontinued Operations [Abstract] | ' | ' | ' |
Operating activities | -4.9 | -43.3 | -12.2 |
Investing activities | 4.5 | 87.5 | -8.4 |
Net cash provided by (used in) discontinued operations | -0.4 | 44.2 | -20.6 |
Net change in cash and cash equivalents | 40.6 | 22 | -23 |
Cash and cash equivalents at beginning of period | 83 | 61 | 84 |
Cash and cash equivalents at end of period | $123.60 | $83 | $61 |
Organization
Organization | 12 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organization | ' |
Organization | |
Mueller Water Products, Inc., a Delaware corporation, together with its consolidated subsidiaries, operates in two business segments: Mueller Co. and Anvil. Mueller Co. manufactures valves for water and gas systems, including butterfly, iron gate, tapping, check, plug and ball valves, as well as dry-barrel and wet-barrel fire hydrants, metering systems, and leak detection and pipe condition assessment products and services for the water infrastructure industry. Anvil manufactures and sources a broad range of products including a variety of fittings, couplings, hangers and related products. The “Company,” “we,” “us” or “our” refer to Mueller Water Products, Inc. and its subsidiaries. With regard to the Company's segments, “we,” “us” or “our” may also refer to the segment being discussed. | |
On April 1, 2012 we sold our former U.S. Pipe segment to USP Holdings Inc., an affiliate of Wynnchurch Capital, Ltd. U.S. Pipe's results of operations have been reclassified as discontinued operations, and its assets and liabilities reclassified as held for sale, for all prior periods. | |
Our consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which require us to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, sales and expenses and the disclosure of contingent assets and liabilities for the reporting periods. Actual results could differ from those estimates. All significant intercompany balances and transactions have been eliminated. Certain reclassifications have been made to previously reported amounts to conform to the current presentation. | |
Unless the context indicates otherwise, whenever we refer to a particular year, we mean our fiscal year ended or ending September 30 in that particular calendar year. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies All (Notes) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Significant Accounting Policies [Abstract] | ' | |||||||||||
Significant Accounting Policies [Text Block] | ' | |||||||||||
Summary of Significant Accounting Policies | ||||||||||||
Revenue Recognition-Revenue is recognized when delivery of products has occurred or services have been rendered and there is persuasive evidence of a sales arrangement, selling prices are fixed or determinable and collectibility is reasonably assured. Revenue is reported net of estimated discounts, returns and rebates as “net sales.” | ||||||||||||
Shipping and Handling-Costs to ship products to customers are included in cost of sales. Amounts billed to customers, if any, to cover shipping and handling costs are included in net sales. | ||||||||||||
Stock-based Compensation-Compensation expense for stock-based awards granted to employees and directors is based on the fair value at the grant dates for most of our outstanding stock-based compensation awards, and is based on the fair value at each reporting date for our Phantom Plan and cash-settled performance share awards. See Note 9 for more information regarding our stock-based compensation. Stock-based compensation expense is a component of selling, general and administrative expenses. | ||||||||||||
Cash and Cash Equivalents-All highly liquid investments with remaining maturities of 90 days or less when purchased are classified as cash equivalents. Where there is no right of offset against cash balances, outstanding checks are included in accounts payable. At September 30, 2013 and 2012, checks issued but not yet presented to the banks for payment were $2.3 million and $4.6 million, respectively, and were included in accounts payable. | ||||||||||||
Receivables-Receivables are amounts due from customers. To reduce credit risk, credit investigations are generally performed prior to accepting orders from new customers and, when necessary, letters of credit, bonds or other instruments are required to ensure payment. | ||||||||||||
The estimated allowance for doubtful receivables is based upon judgments and estimates of expected losses and specific identification of problem accounts. Significantly weaker than anticipated industry or economic conditions could impact customers' ability to pay such that actual losses may be greater than the amounts provided for in this allowance. The periodic evaluation of the adequacy of the allowance for doubtful receivables is based on an analysis of prior collection experience, specific customer creditworthiness and current economic trends within the industries served. In circumstances where we expect a specific customer's inability to meet its financial obligations (e.g., bankruptcy filings or substantial downgrading of credit ratings), we record a specific allowance to reduce the receivable to the amount management reasonably believes will be collected. | ||||||||||||
The following table summarizes information concerning our allowance for doubtful receivables. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Balance at beginning of year | $ | 5.7 | $ | 4.8 | $ | 5.3 | ||||||
Provision charged (credited) to expense | 0.4 | 0.6 | (0.1 | ) | ||||||||
Balances written off, net of recoveries | (0.8 | ) | (0.1 | ) | (0.3 | ) | ||||||
Reclassifications | — | 0.4 | — | |||||||||
Other | — | — | (0.1 | ) | ||||||||
Balance at end of year | $ | 5.3 | $ | 5.7 | $ | 4.8 | ||||||
Inventories-Inventories are recorded at the lower of first-in, first-out method cost or market value. We evaluate our inventory in terms of excess and obsolete exposures. This evaluation includes such factors as anticipated usage, inventory turnover, inventory levels and ultimate product sales value. Inventory cost includes an overhead component that is affected by levels of production and actual costs incurred. Management periodically evaluates the effects of production levels and costs capitalized as part of inventory. | ||||||||||||
The following table summarizes information concerning our inventory valuation reserves. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Balance at beginning of year | $ | 12.5 | $ | 12.7 | $ | 13.4 | ||||||
Provision charged to expense | 2.4 | 1.8 | 1.2 | |||||||||
Inventory disposed | (4.6 | ) | (2.2 | ) | (1.6 | ) | ||||||
Other | 0.3 | 0.2 | (0.3 | ) | ||||||||
Balance at end of year | $ | 10.6 | $ | 12.5 | $ | 12.7 | ||||||
Other Current Assets-Other current assets include maintenance supplies and tooling costs. Costs for perishable tools and maintenance items are expensed when put into service. Costs for more durable items are amortized over their estimated useful lives, ranging from 3 to 10 years. | ||||||||||||
Property, Plant and Equipment-Property, plant and equipment is recorded at cost, less accumulated depreciation. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets. Estimated useful lives are 10 to 20 years for land improvements, 10 to 40 years for buildings and 3 to 15 years for machinery and equipment. Leasehold improvements and capitalized leases are depreciated using the straight-line method over the lesser of the useful life of the asset or the remaining lease term. Gains and losses upon disposition are reflected in operating results in the period of disposition. | ||||||||||||
Direct internal and external costs to implement computer systems and internal-use software are capitalized. Capitalized costs are depreciated over the estimated useful life of the system or software, generally 3 to 5 years, beginning when site installation or module development is complete and ready for use. | ||||||||||||
Liabilities are recognized at fair value for asset retirement obligations related to plant and landfill closures in the period in which they are incurred and the carrying amounts of the related long-lived assets are correspondingly increased. Over time, the liabilities are accreted to their estimated future values. At September 30, 2013 and 2012, asset retirement obligations were $3.6 million and $3.5 million, respectively. | ||||||||||||
Accounting for the Impairment of Long-Lived Assets- We test intangible assets that have an indefinite life for impairment annually (or more frequently if events or circumstances indicate possible impairment.) We perform our annual impairment testing at September 1. We amortize finite-lived intangible assets over their respective estimated useful lives and review for impairment if events or circumstances indicate possible impairment. | ||||||||||||
Workers Compensation-Our exposure to workers compensation claims is generally limited to $1 million per incident. Liabilities, including those related to claims incurred but not reported, are recorded principally using annual valuations based on discounted future expected payments and using historical data combined with insurance industry data when historical data is limited. We are indemnified by a predecessor to Tyco International Ltd. for all Mueller Co. and Anvil workers compensation liabilities related to incidents that occurred prior to August 16, 1999. See Note 15. We retained U.S. Pipe workers compensation liabilities related to incidents that occurred prior to April 1, 2012, but the Purchaser has agreed to reimburse us for up to $11.8 million in payments we make related to these liabilities. At September 30, 2013, the remaining reimbursements may be up to $8.3 million, which we have recorded as $1.8 million in other current assets and $5.3 million in other noncurrent assets. See Note 4. On an undiscounted basis, workers compensation liabilities were $20.0 million and $22.6 million at September 30, 2013 and 2012, respectively. On a discounted basis, workers compensation liabilities were $17.2 million and $20.0 million at September 30, 2013 and 2012, respectively. | ||||||||||||
We apply a discount rate at a risk-free interest rate, generally a U.S. Treasury bill rate, for each policy period. The rate used is one with a duration that corresponds to the weighted average expected payout period for each policy period. Once a discount rate is applied to a policy period, it remains the discount rate for that policy period until all claims are paid. | ||||||||||||
Warranty Costs-We accrue for warranty expenses that can include customer costs of repair and/or replacement, including labor, materials, equipment, freight and reasonable overhead costs. We accrue for the estimated cost of product warranties at the time of sale if such costs are determined to be reasonably estimable at that time. Warranty cost estimates are revised throughout applicable warranty periods as better information regarding warranty costs becomes available. | ||||||||||||
Activity in accrued warranty, reported as part of other current liabilities, is presented below. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Balance at beginning of year | $ | 1.6 | $ | 2 | $ | 1.5 | ||||||
Warranty expense | 4.2 | 1.4 | 1.6 | |||||||||
Warranty payments | (3.0 | ) | (1.8 | ) | (1.1 | ) | ||||||
Balance at end of year | $ | 2.8 | $ | 1.6 | $ | 2 | ||||||
Deferred Financing Fees-Costs of debt financing are charged to expense over the lives of the related financing agreements, which ranged from 5 to 10 years. Remaining costs and the future period over which they would be charged to expense are reassessed when amendments to the related financing agreements or prepayments occur. | ||||||||||||
Deferred financing fees of $8.9 million at September 30, 2013 are scheduled to amortize as follows: $2.9 million related to the ABL Agreement amortizes on a straight-line basis; $3.2 million related to the Senior Unsecured Notes amortizes using the effective-interest rate method; and $2.8 million related to the Senior Subordinated Notes amortizes using the effective-interest rate method. All such amortization is over the remaining term of the respective debt. | ||||||||||||
Derivative Instruments and Hedging Activities-Changes in the fair value of derivative instruments accounted for as effective cash-flow hedges were recorded to accumulated other comprehensive loss. Gains and losses on derivative instruments not qualifying as effective cash-flow hedges, representing hedge ineffectiveness and hedge components excluded from the assessment of effectiveness, were recognized in earnings in the periods in which they occurred. | ||||||||||||
Our ongoing business operations expose us to commodity price risk and interest rate risk, which we had previously managed to some extent using derivative instruments. We used natural gas swap contracts at U.S. Pipe to manage the price risk associated with purchases of natural gas used in certain of our manufacturing processes and interest rate swap contracts to manage interest rate risk associated with our variable-rate borrowings. During 2010, we terminated all of our remaining interest rate swap contracts and we have reclassified expense related to these swap contracts from accumulated other comprehensive loss to interest expense in 2012 and 2011. We have not initiated any new interest rate swap contracts since then. During 2012, we terminated our remaining natural gas swap contract and have not initiated any new natural gas swap contracts since then. | ||||||||||||
We had designated our natural gas swap contracts and interest rate swap contracts as cash flow hedges of our purchases of natural gas and our interest payments, respectively. As a result, to the extent the hedges were effective, the changes in the fair value of these contracts prior to settlement were reported as a component of accumulated other comprehensive loss and reclassified into earnings in the periods during which the hedged transactions affected, or were expected to affect, earnings. | ||||||||||||
Income Taxes-Deferred tax liabilities and deferred tax assets are recognized for the expected future tax consequences of events that have been included in the financial statements or tax returns. Such liabilities and assets are determined based on the differences between the financial statement basis and the tax basis of assets and liabilities, using tax rates in effect for the years in which the differences are expected to reverse. A valuation allowance is provided when, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. | ||||||||||||
We only record tax benefits for positions that management believes are more likely than not of being sustained under audit based solely on the technical merits of the associated tax position. The amount of tax benefit recognized for any position that meets the more likely than not threshold is the largest amount of the tax benefit that we believe is greater than 50% likely of being realized. | ||||||||||||
Environmental Expenditures-We capitalize environmental expenditures that increase the life or efficiency of noncurrent assets or that reduce or prevent environmental contamination. We accrue for environmental expenses resulting from existing conditions that relate to past operations when the costs are probable and reasonably estimable. We are indemnified under an agreement with a predecessor to Tyco for certain environmental liabilities that existed at August 16, 1999. See Note 15. | ||||||||||||
Research and Development-Research and development costs are expensed as incurred. | ||||||||||||
Advertising-Advertising costs are expensed as incurred. | ||||||||||||
Translation of Foreign Currency-Assets and liabilities of our businesses whose functional currency is other than the U.S. dollar are translated into U.S. dollars using currency exchange rates at the balance sheet date. Revenues and expenses are translated at average currency exchange rates during the period. Foreign currency translation gains and losses are reported as a component of accumulated other comprehensive loss. Gains and losses resulting from foreign currency transactions are included in operating results as incurred. |
Identifiable_Intangible_Assets
Identifiable Intangible Assets | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ' | |||||||
Identifiable Intangible Assets | ' | |||||||
Identifiable Intangible Assets | ||||||||
Identifiable intangible assets are presented below. | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
(in millions) | ||||||||
Capitalized external-use software: | ||||||||
Cost | $ | 12.2 | $ | 8.8 | ||||
Accumulated amortization | (4.3 | ) | (2.0 | ) | ||||
Net book value | 7.9 | 6.8 | ||||||
Business combination-related: | ||||||||
Cost: | ||||||||
Finite-lived intangible assets: | ||||||||
Technology | 80.1 | 79.3 | ||||||
Customer relationships and other | 398.1 | 398.2 | ||||||
Indefinite-lived intangible assets: | ||||||||
Trade names and trademarks | 300 | 299.7 | ||||||
778.2 | 777.2 | |||||||
Accumulated amortization: | ||||||||
Technology | (61.5 | ) | (53.5 | ) | ||||
Customer relationships | (171.5 | ) | (150.0 | ) | ||||
(233.0 | ) | (203.5 | ) | |||||
Net book value | 545.2 | 573.7 | ||||||
Total identifiable intangible assets net book value | $ | 553.1 | $ | 580.5 | ||||
Direct internal and external costs to develop external-use software are capitalized. Capitalized costs are depreciated over the estimated useful life of the software, generally three years, beginning when the software is complete and ready for sale. At September 30, 2013, the remaining weighted-average amortization period for the external-use software was 1.9 years. Amortization expense related to such software assets was $2.3 million, $1.5 million and $0.5 million for 2013, 2012 and 2011, respectively. Amortization expense for each of the next five years is scheduled to be $2.7 million in 2014, $2.6 million in 2015, $1.9 million in 2016, $0.7 million in 2017 and none in 2018. | ||||||||
At September 30, 2013, the remaining weighted-average amortization period for the business combination-related finite-lived intangible assets was 10.1 years. Amortization expense related to theses assets was $29.5 million, $29.4 million and $29.2 million for 2013, 2012 and 2011, respectively. Amortization expense for each of the next five years is scheduled to be $28.3 million in 2014, $27.3 million in 2015, $22.0 million in 2016, $22.1 million in 2017 and $22.0 million in 2018. |
Discontinued_Operations_Assets
Discontinued Operations, Assets Held for Sale and Divestitures | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Discontinued Operations, Assets Held for Sale and Divestitures | ' | |||||||||||
Discontinued Operations, Assets Held for Sale and Divestitures | ||||||||||||
On April 1, 2012, we sold our former U.S. Pipe segment and received proceeds of $94.0 million in cash, subject to adjustments, and the agreement by the purchaser to reimburse us for expenditures to settle certain previously-existing liabilities estimated at $10.1 million at March 31, 2012. During 2013, we received $4.5 million in cash for certain purchase price adjustments and reduced our loss on sale of discontinued operations accordingly. | ||||||||||||
The table below represents a summary of the operating results for the U.S. Pipe discontinued operations. These operating results do not reflect what they would have been had U.S. Pipe not been classified as discontinued operations. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Net sales | $ | — | $ | 197 | $ | 374.6 | ||||||
Cost of sales | — | 197.9 | 388.6 | |||||||||
Gross loss | — | (0.9 | ) | (14.0 | ) | |||||||
Operating expenses (income) | (0.5 | ) | 4.2 | 32 | ||||||||
Operating income (loss) | 0.5 | (5.1 | ) | (46.0 | ) | |||||||
Interest expense | — | 0.3 | — | |||||||||
(Income) loss on sale of discontinued operations | (4.9 | ) | 119.7 | — | ||||||||
Income tax benefit | — | (21.9 | ) | (17.9 | ) | |||||||
Income (loss) from discontinued operations, net of tax | $ | 5.4 | $ | (103.2 | ) | $ | (28.1 | ) | ||||
We have retained certain assets, liabilities and activities previously associated with our former U.S. Pipe segment, including ownership of certain real property and retention of pension and workers compensation obligations to employees of U.S. Pipe. Cash flows associated with some of these items are anticipated to continue indefinitely, but they are not clearly and closely related to the future operations of U.S. Pipe under its new owners. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
The components of income (loss) before income taxes are presented below. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
U.S. | $ | 41 | $ | (0.1 | ) | $ | (15.2 | ) | ||||
Non-U.S. | 3.2 | 2.8 | 2.3 | |||||||||
Income (loss) before income taxes | $ | 44.2 | $ | 2.7 | $ | (12.9 | ) | |||||
The cumulative amount of undistributed earnings of foreign subsidiaries for which United States income taxes have not been provided was $56.4 million at September 30, 2013. It is not currently practical to estimate the amount of unrecognized United States income taxes that might be payable on the repatriation of these earnings. | ||||||||||||
Income tax expense (benefit) from continuing operations is presented below. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Current: | ||||||||||||
U.S. federal | $ | 0.6 | $ | 0.2 | $ | 3.8 | ||||||
U.S. state and local | 0.1 | (1.0 | ) | (0.6 | ) | |||||||
Non-U.S. | 0.8 | 1.1 | (0.2 | ) | ||||||||
1.5 | 0.3 | 3 | ||||||||||
Deferred: | ||||||||||||
U.S. federal | 6.2 | (0.6 | ) | (5.7 | ) | |||||||
U.S. state and local | 1.3 | 9 | (0.2 | ) | ||||||||
Non-U.S. | (0.2 | ) | (0.8 | ) | — | |||||||
7.3 | 7.6 | (5.9 | ) | |||||||||
Income tax expense (benefit) | $ | 8.8 | $ | 7.9 | $ | (2.9 | ) | |||||
The allocations of current income tax expense (benefit) between continuing and discontinued operations are provided below. | ||||||||||||
2013 | ||||||||||||
Continuing operations | Discontinued operations | |||||||||||
(in millions) | ||||||||||||
Expense from operations | $ | 17.5 | $ | 2.1 | ||||||||
Valuation allowance-related benefit | (8.5 | ) | (2.1 | ) | ||||||||
Other items | (0.2 | ) | — | |||||||||
Income tax expense | $ | 8.8 | $ | — | ||||||||
2012 | ||||||||||||
Continuing operations | Discontinued operations | |||||||||||
(in millions) | ||||||||||||
Expense (benefit) from operations | $ | 1.4 | $ | (48.7 | ) | |||||||
Valuation allowance-related expense | 6.5 | 26.7 | ||||||||||
Other items | — | 0.1 | ||||||||||
Income tax expense (benefit) | $ | 7.9 | $ | (21.9 | ) | |||||||
2011 | ||||||||||||
Continuing operations | Discontinued operations | |||||||||||
(in millions) | ||||||||||||
Benefit from operations | $ | (3.4 | ) | $ | (17.9 | ) | ||||||
Valuation allowance-related expense | 0.5 | — | ||||||||||
Income tax benefit | $ | (2.9 | ) | $ | (17.9 | ) | ||||||
The reconciliation between income tax expense (benefit) at the U.S. federal statutory income tax rate and reported income tax expense (benefit) from continuing operations is presented below. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Expense (benefit) at U.S. federal statutory income tax rate of 35% | $ | 15.5 | $ | 0.9 | $ | (4.5 | ) | |||||
Adjustments to reconcile to income tax expense (benefit): | ||||||||||||
Federal valuation allowance | (7.8 | ) | — | — | ||||||||
State income taxes, net of federal benefit | 2 | (0.8 | ) | (0.5 | ) | |||||||
State valuation allowance, net of federal benefit | (1.1 | ) | 5.9 | — | ||||||||
Tax credits | (0.6 | ) | (0.1 | ) | (0.3 | ) | ||||||
Other nondeductible expenses | 0.5 | 0.7 | 0.5 | |||||||||
Foreign income taxes | 0.4 | (0.3 | ) | 0.2 | ||||||||
Nondeductible compensation | 0.2 | 1.4 | 1.3 | |||||||||
Other | (0.3 | ) | 0.2 | 0.4 | ||||||||
Income tax expense (benefit) | $ | 8.8 | $ | 7.9 | $ | (2.9 | ) | |||||
Deferred income tax balances are presented below. | ||||||||||||
September 30, | ||||||||||||
2013 | 2012 | |||||||||||
(in millions) | ||||||||||||
Deferred income tax assets: | ||||||||||||
Inventory reserves | $ | 17.2 | $ | 13.5 | ||||||||
Accrued expenses | 17.2 | 19.4 | ||||||||||
Pension and other postretirement benefits | 2.4 | 24.7 | ||||||||||
Stock-based compensation | 9.1 | 7 | ||||||||||
State net operating losses | 13.4 | 16.9 | ||||||||||
Federal net operating losses and credit carryovers | 37.4 | 65.1 | ||||||||||
Other | 1.6 | 1.7 | ||||||||||
98.3 | 148.3 | |||||||||||
Valuation allowance | (10.3 | ) | (49.2 | ) | ||||||||
Total deferred income tax assets, net of valuation allowance | 88 | 99.1 | ||||||||||
Deferred income tax liabilities: | ||||||||||||
Identifiable intangible assets | 199.8 | 206.9 | ||||||||||
Other | 3 | 5.4 | ||||||||||
Total deferred income tax liabilities | 202.8 | 212.3 | ||||||||||
Net deferred income tax liabilities | $ | 114.8 | $ | 113.2 | ||||||||
We reevaluate the need for a valuation allowance against the U.S. deferred tax assets each quarter, considering results to date, projections of taxable income, tax planning strategies and reversing taxable temporary differences. | ||||||||||||
After inclusion of the tax effect of the loss on the sale of U.S. Pipe, our net reversing deferred tax credits were insufficient to fully support our deferred tax assets, which include net operating loss carryforwards, and we concluded that a valuation allowance was necessary to reduce our U.S. net reversing deferred tax assets to zero. Accordingly, we recorded income tax expense in 2012 to establish valuation allowances related to deferred tax assets. GAAP required us to allocate a portion of the valuation allowance charge relating to these deferred tax assets at September 30, 2011 to continuing operations, with the remaining valuation allowances charged against minimum pension liability in accumulated other comprehensive loss and to discontinued operations. | ||||||||||||
The allocations of the valuation allowance charge among continuing operations, discontinued operations, and accumulated other comprehensive loss are presented below. | ||||||||||||
2013 | 2012 | |||||||||||
(in millions) | ||||||||||||
Balance at beginning of year | $ | 49.2 | $ | 1.3 | ||||||||
Increase (decrease) allocated to continuing operations | (8.5 | ) | 6.5 | |||||||||
Increase (decrease) allocated to discontinued operations | (2.1 | ) | 26.7 | |||||||||
Increase (decrease) allocated to accumulated other comprehensive loss | (27.8 | ) | 15.2 | |||||||||
Expired items | (0.5 | ) | (0.5 | ) | ||||||||
Balance at end of year | $ | 10.3 | $ | 49.2 | ||||||||
Notwithstanding the valuation allowance, our federal and state net operating loss carryforwards remain available to offset future taxable earnings. Our state net operating losses expire between 2020 and 2032. Our federal net operating losses expire between 2031 and 2032. | ||||||||||||
The following table summarizes information concerning our gross unrecognized tax benefits. | ||||||||||||
2013 | 2012 | |||||||||||
(in millions) | ||||||||||||
Balance at beginning of year | $ | 4.3 | $ | 7.8 | ||||||||
Increases related to prior year positions | 0.5 | 0.6 | ||||||||||
Decreases related to prior year positions | — | (0.2 | ) | |||||||||
Decreases due to lapse in statute of limitations | (1.1 | ) | (2.5 | ) | ||||||||
Payments and settlements | — | (1.4 | ) | |||||||||
Balance at end of year | $ | 3.7 | $ | 4.3 | ||||||||
Substantially all unrecognized tax benefits would, if recognized, impact the effective tax rate. We recognize interest related to uncertain tax positions as interest expense and recognize any penalties incurred as a component of selling, general and administrative expenses. At September 30, 2013 and 2012, we had $0.9 million and $0.9 million, respectively, of accrued interest expense related to unrecognized tax benefits. | ||||||||||||
We expect to settle certain state income tax audits within the next 12 months and believe it is reasonably possible that these audit settlements will reduce the gross unrecognized tax benefits by $0.8 million. | ||||||||||||
The federal income tax returns for Mueller Co. and Anvil are closed for years prior to 2005 and for Mueller Water Products, Inc. for 2007 and 2008. Our 2009 return is closed except to the extent net operating losses from that year are utilized in later years. U.S. Pipe is subject to statute extension agreements that may be applicable to Walter Energy, and we remain liable for any tax related to U.S. Pipe pursuant to the terms of our sale of that segment. See Note 15. During 2012, the IRS completed its audit of our income tax returns filed for 2010, 2009, 2008 and 2007. The IRS audit resulted in zero additional tax liability. | ||||||||||||
Our state income tax returns are generally closed for years prior to 2006, except to the extent of our state net operating loss carryforwards. Our Canadian income tax returns are generally closed for years prior to 2006. We are currently under audit by several states at various levels of completion. We do not have any material unpaid assessments. |
Borrowing_Arrangements
Borrowing Arrangements | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Long-term Debt and Capital Lease Obligations [Abstract] | ' | |||||||
Borrowing Arrangements | ' | |||||||
Borrowing Arrangements | ||||||||
The components of our long-term debt are presented below. | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
(in millions) | ||||||||
ABL Agreement | $ | — | $ | — | ||||
8.75% Senior Unsecured Notes | 178 | 199.9 | ||||||
7.375% Senior Subordinated Notes | 420 | 420 | ||||||
Other | 2.8 | 2.9 | ||||||
600.8 | 622.8 | |||||||
Less current portion | (1.3 | ) | (1.1 | ) | ||||
Long-term debt | $ | 599.5 | $ | 621.7 | ||||
ABL Agreement. At September 30, 2013, our asset based lending agreement (“ABL Agreement”) consisted of a revolving credit facility for up to $225 million of revolving credit borrowings, swing line loans and letters of credit. The ABL Agreement also permits us to increase the size of the credit facility by an additional $150 million in certain circumstances subject to adequate borrowing base availability. We may borrow up to $25 million through swing line loans and may have up to $60 million of letters of credit outstanding. | ||||||||
Borrowings under the ABL Agreement bear interest at a floating rate equal to LIBOR plus a margin ranging from 175 to 225 basis points, or a base rate, as defined in the ABL Agreement, plus a margin ranging from 75 to 125 basis points. At September 30, 2013 the applicable rate was LIBOR plus 175 basis points. | ||||||||
The ABL Agreement terminates on the earlier of (1) December 18, 2017 and (2) 60 days prior to the final maturity of our 7.375% Senior Subordinated Notes. We pay a commitment fee for any unused borrowing capacity under the ABL Agreement of either 37.5 basis points per annum or 25 basis points per annum, based on daily average availability during the previous calendar quarter. At September 30, 2013, our commitment fee was 37.5 basis points. Our obligations under the ABL Agreement are secured by a first-priority perfected lien on all of our U.S. receivables and inventory, certain cash and other supporting obligations. Borrowings are not subject to any financial maintenance covenants unless excess availability is less than the greater of $22.5 million and 10% of the aggregate commitments under the ABL Agreement. Excess availability based on September 30, 2013 data, as reduced by outstanding letters of credit and accrued fees and expenses of $32.9 million, was $159.4 million | ||||||||
8.75% Senior Unsecured Notes. The 8.75% Senior Unsecured Notes (“Senior Unsecured Notes”) mature in September 1, 2020 and bear interest at 8.75%, paid semi-annually. The Senior Unsecured Notes balance at September 30, 2013 is net of $2.0 million of unamortized discount. Based on quoted market prices, the outstanding Senior Unsecured Notes had a fair value of $197.1 million at September 30, 2013. | ||||||||
During 2013, we redeemed $22.5 million aggregate principal amount of the Senior Unsecured Notes at a redemption price of 103% and recorded a loss on early extinguishment of debt of $1.4 million. After August 31, 2015, we may redeem the Senior Unsecured Notes at specified redemption prices. Upon a Change of Control (as defined in the indenture securing the Senior Unsecured Notes), we are required to offer to purchase the outstanding Senior Unsecured Notes at a purchase price of 101.0%. The Senior Unsecured Notes are guaranteed by essentially all of our U.S. subsidiaries, but are subordinate to borrowings under the ABL Agreement. | ||||||||
The indenture securing the Senior Unsecured Notes contains customary covenants and events of default, including covenants that limit our ability to incur debt, pay dividends and make investments. We believe we were compliant with these covenants at September 30, 2013 and expect to remain in compliance through September 30, 2014. | ||||||||
7.375% Senior Subordinated Notes. The 7.375% Senior Subordinated Notes (“Senior Subordinated Notes”) mature in June 1, 2017 and bear interest at 7.375%, paid semi-annually. Based on quoted market prices, the outstanding Senior Subordinated Notes had a fair value of $429.5 million at September 30, 2013. | ||||||||
We may redeem any portion of the Senior Subordinated Notes at specified redemption prices , subject to restrictions in the Senior Unsecured Notes. Upon a Change of Control (as defined in the indenture securing the Senior Subordinated Notes), we are required to offer to purchase the outstanding Senior Subordinated Notes at a purchase price of 101%. The Senior Subordinated Notes are guaranteed by essentially all of our U.S. subsidiaries, but are subordinate to the borrowings under the ABL Agreement and the Senior Unsecured Notes. | ||||||||
The indenture securing the Senior Subordinated Notes contains customary covenants and events of default, including covenants that limit our ability to incur debt, pay dividends and make investments. We believe we were compliant with these covenants at September 30, 2013 and expect to remain in compliance through September 30, 2014. | ||||||||
Future maturities of outstanding borrowings at September 30, 2013 for each of the following years are $1.3 million for 2014, $1.0 million for 2015, $0.5 million for 2016, $420.0 million for 2017, none for 2018 and $180.0 million after 2018. |
Retirement_Plans
Retirement Plans | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | ||||||||||||||||
Retirement Plans | ' | ||||||||||||||||
Retirement Plans | |||||||||||||||||
We have various pension plans (“Pension Plans”), which we fund in accordance with their requirements and, where applicable, in amounts sufficient to satisfy the minimum funding requirements of applicable laws. The Pension Plans provide benefits based on years of service and compensation or at stated amounts for each year of service. | |||||||||||||||||
We formerly provided certain postretirement benefits other than pensions, primarily healthcare, to eligible retirees. Our postretirement benefit plans were funded as benefits were paid. | |||||||||||||||||
On April 1, 2012, we changed certain provisions of our pension and postretirement benefit plans affecting U.S. Pipe participants in these plans. These changes vested all accumulated pension benefits and then froze the plan such that no additional pension benefits would accumulate. Postretirement medical benefits ceased on December 31, 2012. Related to this cessation of benefits, we recorded a benefit of $7.4 million, which is included in income from discontinued operations in 2013. During 2012, we recorded a pension curtailment expense of $0.2 million and an other postretirement benefit plan curtailment gain of $2.4 million, which was included in loss from discontinued operations for 2012. | |||||||||||||||||
In 2011, we ceased enrollment in our Pension Plans. This amendment decreased our pension and postretirement benefit liabilities by $30.6 million and $1.8 million, respectively, and resulted in an after-tax decrease in accumulated other comprehensive loss of $19.7 million. We also recorded a pension plan curtailment expense of $0.7 million. | |||||||||||||||||
The measurement date for all Pension Plans and other postretirement benefit plans was September 30. | |||||||||||||||||
We currently estimate we will contribute $0.8 million to our Pension Plans in 2014. | |||||||||||||||||
The components of net periodic benefit cost (gain) are presented below. | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
(in millions) | |||||||||||||||||
Service cost | $ | 2 | $ | 1.8 | $ | 2.5 | |||||||||||
Interest cost | 18.3 | 20.2 | 21.2 | ||||||||||||||
Expected return on plan assets | (25.1 | ) | (24.0 | ) | (23.4 | ) | |||||||||||
Amortization of prior service cost | — | 0.6 | 0.6 | ||||||||||||||
Amortization of net loss | 9 | 6 | 5.9 | ||||||||||||||
Curtailment / special settlement loss | 0.1 | 0.2 | 0.7 | ||||||||||||||
Costs allocated to discontinued operations | — | (1.1 | ) | (4.3 | ) | ||||||||||||
Net periodic benefit cost | $ | 4.3 | $ | 3.7 | $ | 3.2 | |||||||||||
Balance sheet information for Pension Plans with accumulated benefit obligations in excess of plan assets is presented below. | |||||||||||||||||
September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
(in millions) | |||||||||||||||||
Projected benefit obligations | $ | 390.4 | $ | 445.2 | |||||||||||||
Accumulated benefit obligations | 390.4 | 445 | |||||||||||||||
Fair value of plan assets | 384.8 | 383.2 | |||||||||||||||
Balance sheet information for Pension Plans with accumulated benefit obligations less than plan assets is presented below. | |||||||||||||||||
September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
(in millions) | |||||||||||||||||
Projected benefit obligations | $ | 9.2 | $ | 3.1 | |||||||||||||
Accumulated benefit obligations | 9.1 | 3.1 | |||||||||||||||
Fair value of plan assets | 10.4 | 3.9 | |||||||||||||||
Amounts recognized for our Pension Plans and other postretirement benefit plans are presented below. | |||||||||||||||||
Pension Plans | Other Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in millions) | |||||||||||||||||
Projected benefit obligations: | |||||||||||||||||
Beginning of year | $ | 448.3 | $ | 381.3 | $ | 0.2 | $ | 2.1 | |||||||||
Service cost | 2 | 1.8 | — | — | |||||||||||||
Interest cost | 18.3 | 20.2 | — | 0.1 | |||||||||||||
Plan amendment | — | — | — | (1.4 | ) | ||||||||||||
Actuarial loss (gain) | (42.5 | ) | 71.6 | — | (0.1 | ) | |||||||||||
Benefits paid | (26.0 | ) | (24.7 | ) | (0.2 | ) | (0.5 | ) | |||||||||
Currency translation | (0.5 | ) | 0.6 | — | — | ||||||||||||
Decrease in obligation due to curtailment | — | (2.8 | ) | — | — | ||||||||||||
Other | — | 0.3 | — | — | |||||||||||||
End of year | $ | 399.6 | $ | 448.3 | $ | — | $ | 0.2 | |||||||||
Accumulated benefit obligations at end of year | $ | 399.5 | $ | 448.1 | $ | — | $ | 0.2 | |||||||||
Plan assets: | |||||||||||||||||
Beginning of year | $ | 387.1 | $ | 331.8 | $ | — | $ | — | |||||||||
Actual return on plan assets | 34.4 | 58.2 | — | — | |||||||||||||
Employer contributions | 0.2 | 21.3 | 0.2 | 0.5 | |||||||||||||
Currency translation | (0.5 | ) | 0.5 | — | — | ||||||||||||
Benefits paid | (26.0 | ) | (24.7 | ) | (0.2 | ) | (0.5 | ) | |||||||||
End of year | $ | 395.2 | $ | 387.1 | $ | — | $ | — | |||||||||
Accrued benefit cost at end of year: | |||||||||||||||||
Unfunded status | $ | (4.4 | ) | $ | (61.2 | ) | $ | — | $ | (0.2 | ) | ||||||
Recognized on balance sheet: | |||||||||||||||||
Other noncurrent assets | $ | 1.3 | $ | 0.9 | $ | — | $ | — | |||||||||
Other current liabilities | — | — | — | (0.1 | ) | ||||||||||||
Other noncurrent liabilities | (5.7 | ) | (62.1 | ) | — | (0.1 | ) | ||||||||||
$ | (4.4 | ) | $ | (61.2 | ) | $ | — | $ | (0.2 | ) | |||||||
Recognized in accumulated other comprehensive loss, before tax: | |||||||||||||||||
Prior year service cost (gain) | $ | 0.2 | $ | 0.3 | $ | — | $ | (0.4 | ) | ||||||||
Net actuarial loss (gain) | 74.5 | 135.3 | — | (4.2 | ) | ||||||||||||
$ | 74.7 | $ | 135.6 | $ | — | $ | (4.6 | ) | |||||||||
Our U.S. plan comprised 97% of the Pension Plans' obligations and 97% of Pension Plans' assets at September 30, 2013. | |||||||||||||||||
Pension Plan activity in accumulated other comprehensive loss, before tax, in 2013 is presented below, in millions. | |||||||||||||||||
Balance at beginning of year | $ | 135.6 | |||||||||||||||
Actuarial gain | (51.8 | ) | |||||||||||||||
Prior year service loss amortization to net periodic cost | (9.0 | ) | |||||||||||||||
Other | (0.1 | ) | |||||||||||||||
Balance at end of year | $ | 74.7 | |||||||||||||||
The components of accumulated other comprehensive loss related to pension that we expect to amortize into net periodic benefit cost in 2014 are presented below, in millions. | |||||||||||||||||
Amortization of unrecognized prior year service cost | $ | 0.1 | |||||||||||||||
Amortization of unrecognized loss | 3.5 | ||||||||||||||||
$ | 3.6 | ||||||||||||||||
The discount rates for determining the present value of pension obligations were selected using a “bond settlement” approach, which constructs a hypothetical bond portfolio that could be purchased such that the coupon payments and maturity values could be used to satisfy the projected benefit payments. The discount rate is the equivalent rate that results in the present value of the projected benefit payments equaling the market value of this bond portfolio. Only high quality (AA graded or higher), non-callable corporate bonds are included in this bond portfolio. We rely on the Pension Plans' actuaries to assist in the development of the discount rate model. | |||||||||||||||||
Separate discount rates were selected for different plans due to differences in the timing of projected benefit payments. The discount rate model for the plan covering participants in the United States reflected yields available on investments in the United States, while plans covering participants in Canada reflected yields available on investments in Canada. The discount rate for the other postretirement benefit plans was remeasured at April 1, 2012 to 5.00%. | |||||||||||||||||
Management's expected returns on plan assets and assumed healthcare cost trend rates were determined with the assistance of the Pension Plans' actuaries and investment consultants. Expected returns on plan assets were developed using forward looking returns over a time horizon of 10 to 15 years for major asset classes along with projected risk and historical correlations. | |||||||||||||||||
A summary of key assumptions for our pension and other postretirement benefit plans is below. | |||||||||||||||||
Pension Plans | Other Plans | ||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||
Weighted average used to determine benefit obligations: | |||||||||||||||||
Discount rate | 5.16 | % | 4.21 | % | 5.66 | % | n/a | 4.22 | % | 5.69 | % | ||||||
Rate of compensation increases | 3.5 | 3.5 | 3.5 | n/a | n/a | n/a | |||||||||||
Weighted average used to determine net periodic cost: | |||||||||||||||||
Discount rate | 4.21 | % | 5.66 | % | 5.88 | % | n/a | 5.69 | % | 5.88 | % | ||||||
Expected return on plan assets | 6.71 | 6.95 | 7.47 | n/a | n/a | n/a | |||||||||||
Rate of compensation increases | 3.5 | 3.5 | 3.5 | n/a | n/a | n/a | |||||||||||
Assumed healthcare cost trend rates: | |||||||||||||||||
Next year – pre-65 | n/a | n/a | n/a | n/a | n/a | 7.5 | % | ||||||||||
Ultimate trend rate – pre-65 | n/a | n/a | n/a | n/a | n/a | 5 | % | ||||||||||
Year ultimate trend rate achieved | n/a | n/a | n/a | n/a | n/a | 2016 | |||||||||||
Assumed discount rates, expected return on plan assets and salary increases affect the amounts reported for the Pension Plans. The effects of a one-percentage-point change in the trend rate for these assumptions are below. | |||||||||||||||||
1 Percentage | 1 Percentage | ||||||||||||||||
point increase | point decrease | ||||||||||||||||
(in millions) | |||||||||||||||||
Discount rate: | |||||||||||||||||
Effect on pension service cost | $ | (0.2 | ) | $ | 0.3 | ||||||||||||
Effect on pension benefit obligations | (39.2 | ) | 47.3 | ||||||||||||||
Effect on 2014 pension expense | (2.3 | ) | 2.7 | ||||||||||||||
Expected return on plan assets: | |||||||||||||||||
Effect on 2014 pension expense | (3.8 | ) | 3.8 | ||||||||||||||
We maintain a single trust to hold the assets of the U.S. pension plan. During 2013, the strategic asset allocation was adjusted to 40% equity investments from 60% equity investments. This trust's strategic asset allocations, tactical range at September 30, 2013 and actual asset allocations are presented below. | |||||||||||||||||
Strategic asset allocation | Actual asset allocations at | ||||||||||||||||
September 30, | |||||||||||||||||
Tactical range | 2013 | 2012 | 2011 | ||||||||||||||
Equity investments: | |||||||||||||||||
Large capitalization stocks | 26 | % | |||||||||||||||
Small capitalization stocks | 5 | ||||||||||||||||
International stocks | 9 | ||||||||||||||||
40 | 30 | - | 50% | 40 | % | 59 | % | 46 | % | ||||||||
Fixed income investments | 60 | 50 | - | 70 | 59 | 39 | 53 | ||||||||||
Cash | — | 0 | - | 5 | 1 | 2 | 1 | ||||||||||
100 | % | 100 | % | 100 | % | 100 | % | ||||||||||
Assets of the Pension Plans are allocated to various investments to attain diversification and reasonable risk-adjusted returns while also managing the exposure to asset and liability volatility. These ranges are targets and deviations may occur from time to time due to market fluctuations. Portfolio assets are typically rebalanced to the allocation targets at least annually. The valuation methodologies used to measure the assets of the Pension Plans at fair value are: | |||||||||||||||||
• | Equity investments are valued at the closing price reported on the active market when reliable market quotations are readily available. When market quotations are not readily available, assets of the Pension Plans are valued by a method the trustees of the Pension Plans believe accurately reflects fair value; | ||||||||||||||||
• | Fixed income fund investments are valued using the closing price reported in the active market in which the investment is traded or based on yields currently available on comparable securities of issuers with similar credit ratings; and | ||||||||||||||||
• | Other investments are valued as determined by the trustees of the Pension Plans based on their net asset values and supported by the value of the underlying securities and by the unit prices of actual purchase and sale transactions occurring at or close to the financial statement date. | ||||||||||||||||
In 2013, $1.5 million of investments classified as level 3 in the prior year were reclassified as level 2 fixed income funds, after receiving more complete valuation information from the trustee. The assets of the Pension Plans by level within the fair value hierarchy are presented below. | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
(in millions) | |||||||||||||||||
Equity: | |||||||||||||||||
Large cap stocks: | |||||||||||||||||
Large cap growth funds | $ | — | $ | 31.7 | $ | — | $ | 31.7 | |||||||||
Large cap index funds | — | 26.1 | — | 26.1 | |||||||||||||
Large cap value funds | — | 16.3 | — | 16.3 | |||||||||||||
Large cap growth mutual funds | 16.1 | — | — | 16.1 | |||||||||||||
Small cap stocks: | |||||||||||||||||
Small cap growth funds | — | 23.5 | — | 23.5 | |||||||||||||
International stocks: | |||||||||||||||||
Mutual funds | 31.5 | — | — | 31.5 | |||||||||||||
International funds | — | 15.7 | — | 15.7 | |||||||||||||
Total equity | 47.6 | 113.3 | — | 160.9 | |||||||||||||
Fixed income | — | 229.8 | — | 229.8 | |||||||||||||
Cash and cash equivalents | 4.5 | — | — | 4.5 | |||||||||||||
$ | 52.1 | $ | 343.1 | $ | — | $ | 395.2 | ||||||||||
September 30, 2012 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
(in millions) | |||||||||||||||||
Equity: | |||||||||||||||||
Large cap stocks: | |||||||||||||||||
Large cap growth funds | $ | — | $ | 15.6 | $ | — | $ | 15.6 | |||||||||
Large cap value funds | — | 30.4 | — | 30.4 | |||||||||||||
Large cap value mutual funds | 31.3 | — | — | 31.3 | |||||||||||||
Large cap growth mutual funds | 71.7 | — | — | 71.7 | |||||||||||||
Small cap stocks: | |||||||||||||||||
Small cap index funds | — | 36.3 | — | 36.3 | |||||||||||||
International stocks: | |||||||||||||||||
Mutual funds | 31.4 | — | — | 31.4 | |||||||||||||
International funds | — | 10.6 | — | 10.6 | |||||||||||||
Total equity | 134.4 | 92.9 | — | 227.3 | |||||||||||||
Fixed income | — | 151.3 | — | 151.3 | |||||||||||||
Cash and cash equivalents | 0.2 | 6.8 | — | 7 | |||||||||||||
Other | — | — | 1.5 | 1.5 | |||||||||||||
$ | 134.6 | $ | 251 | $ | 1.5 | $ | 387.1 | ||||||||||
The estimated pension benefit payments, which reflect expected future service, as appropriate, are presented below in millions. | |||||||||||||||||
2014 | $ | 26.5 | |||||||||||||||
2015 | 26.4 | ||||||||||||||||
2016 | 26.5 | ||||||||||||||||
2017 | 26.7 | ||||||||||||||||
2018 | 27 | ||||||||||||||||
2019-2023 | 137 | ||||||||||||||||
Defined Contribution Retirement Plan-Certain U.S. employees participate in defined contribution 401(k) plans. We make matching contributions as a function of employee contributions. Matching contributions were $4.7 million, $4.2 million and $4.0 million during 2013, 2012 and 2011, respectively. |
Capital_Stock
Capital Stock | 12 Months Ended | ||
Sep. 30, 2013 | |||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ' | ||
Stockholders' Equity Note Disclosure | ' | ||
Capital Stock | |||
Common stock share activity is presented below. | |||
Shares outstanding at September 30, 2010 | 154,708,474 | ||
Exercise of stock options | 7,327 | ||
Exercise of employee stock purchase plan instruments | 397,010 | ||
Vesting of restricted stock units, net of shares withheld | 680,801 | ||
Shares outstanding at September 30, 2011 | 155,793,612 | ||
Exercise of stock options | 8,552 | ||
Exercise of employee stock purchase plan instruments | 339,242 | ||
Vesting of restricted stock units, net of shares withheld | 699,242 | ||
Shares outstanding at September 30, 2012 | 156,840,648 | ||
Exercise of stock options | 384,475 | ||
Exercise of employee stock purchase plan instruments | 290,173 | ||
Vesting of restricted stock units, net of shares withheld | 719,004 | ||
Shares outstanding at September 30, 2013 | 158,234,300 | ||
Stockbased_Compensation_Plans
Stock-based Compensation Plans | 12 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||||||||
Stock-based Compensation Plans | |||||||||||||||||||||||
The effect of stock-based compensation on our statements of operations is presented below. | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
(in millions, except per share data) | |||||||||||||||||||||||
Decrease in operating income | $ | 11.4 | $ | 6 | $ | 5 | |||||||||||||||||
Decrease in net income or increase in net loss | 6.9 | 3.5 | 3.3 | ||||||||||||||||||||
Effect on earnings or loss per basic share | 0.04 | 0.02 | 0.02 | ||||||||||||||||||||
Effect on earnings or loss per diluted share | 0.04 | 0.02 | 0.02 | ||||||||||||||||||||
We excluded 1,387,198 instruments from the calculation of diluted earnings per share for 2013 because the effect of including them would have been antidilutive. We recorded net losses from both continuing and discontinued operations for 2012 and 2011. The effect of including normally dilutive securities in the loss per share calculations would have been antidilutive. Therefore, all stock-based compensation instruments were excluded from diluted loss per share calculations for 2012 and 2011. | |||||||||||||||||||||||
At September 30, 2013, there was approximately $2.8 million of unrecognized compensation expense related to stock-based awards not yet vested. We expect to recognize this expense over a weighted average life of approximately 1.25 years. | |||||||||||||||||||||||
The Mueller Water Products, Inc. 2006 Stock Incentive Plan (“2006 Plan”) authorizes an aggregate of 20,500,000 shares of common stock that may be granted through the issuance of stock-based awards. Any awards canceled are available for reissuance. Generally, all of our employees and members of our board of directors are eligible to participate in the 2006 Plan. At September 30, 2013, 8,032,964 shares of common stock were available for future grants of awards under the 2006 Plan. This total excludes any potential variations from target for those grants for which the final number of shares to be issued has not yet been determined. | |||||||||||||||||||||||
An award granted under the 2006 Plan vests at such times and in such installments as set by the Compensation and Human Resources Committee of the board of directors, but no award will be exercisable after the ten-year anniversary of the date on which it is granted. Management expects some instruments will be forfeited prior to vesting. Grants to members of our board of the directors are expected to vest fully. Based on historical forfeitures, we expect grants to others to be forfeited at an annual rate of 5%. | |||||||||||||||||||||||
Restricted Stock Units. Depending on the specific terms of each award, restricted stock units generally vest either on the three-year or seven-year anniversary of the grant date, or ratably over the life of the award, usually three years, on each anniversary date of the original grant. Restricted stock units granted since November 2007 also vest upon the Retirement (as defined in the 2006 Plan) of a participant. Compensation expense for restricted stock units is recognized between the grant date and the vesting date (or the date on which a participant becomes Retirement-eligible, if sooner) on a straight-line basis for each tranche of each award. Fair values of restricted stock units are determined using the closing price of our common stock on the respective dates of grant. Restricted stock unit activity under the 2006 Plan is summarized below. | |||||||||||||||||||||||
Restricted stock units | Weighted | Weighted | Aggregate | ||||||||||||||||||||
average | average | intrinsic | |||||||||||||||||||||
grant date fair value per unit | remaining | value | |||||||||||||||||||||
contractual | (millions) | ||||||||||||||||||||||
term (years) | |||||||||||||||||||||||
Outstanding at September 30, 2010 | 2,095,713 | $ | 7.66 | 1.9 | |||||||||||||||||||
Granted | 990,139 | 3.63 | |||||||||||||||||||||
Vested | (762,893 | ) | 7.02 | $ | 2.7 | ||||||||||||||||||
Canceled | (257,193 | ) | 6.48 | ||||||||||||||||||||
Outstanding at September 30, 2011 | 2,065,766 | 6.11 | 1.6 | ||||||||||||||||||||
Granted | 1,406,318 | 2.19 | |||||||||||||||||||||
Vested | (867,451 | ) | 5.44 | 2.2 | |||||||||||||||||||
Canceled | (180,871 | ) | 5.33 | ||||||||||||||||||||
Outstanding at September 30, 2012 | 2,423,762 | 4.13 | 1 | ||||||||||||||||||||
Granted | 509,338 | 5.37 | |||||||||||||||||||||
Vested | (995,037 | ) | 4.77 | 5.6 | |||||||||||||||||||
Canceled | (12,723 | ) | 12.28 | ||||||||||||||||||||
Outstanding at September 30, 2013 | 1,925,340 | $ | 4.3 | 0.9 | |||||||||||||||||||
Performance Shares. In 2013, we granted 243,992 cash-settled and 406,658 stock-settled performance shares under the 2006 Plan. The performance shares represent a target number of units that may be paid out at the end of a multi-year award cycle consisting of annual performance periods coinciding with our fiscal years. Performance goals are established within 90 days of the beginning of each performance period by the Compensation and Human Resources Committee of our board of directors ("Committee"). At the end of each annual performance period, the Committee certifies performance against the applicable performance targets, resulting in a performance factor ranging from 0.0 to 2.0. The performance factor is used to determine the actual amount of cash to be paid and number of shares of common stock to be issued within 90 days following the end of each award cycle. Performance shares do not convey voting rights or earn dividends. Performance shares vest on the last day of an award cycle, unless vested sooner due to a "Change of Control" of the Company, or the death, disability or Retirement of a participant. | |||||||||||||||||||||||
A cash-settled performance share entitles the recipient to a cash payment determined at the end of each of two successive annual performance periods. The amount of cash to be distributed equals the product of the number of performance shares granted for each performance period multiplied by the applicable performance factor and by the closing price of our common stock on the last day of the award cycle. The performance factor for the performance period ended September 30, 2013 was 2.0. Compensation expense for cash-settled performance shares is recognized over the applicable performance period based on the estimated performance factor and the closing price of our common stock at each balance sheet date. Cash-settled performance shares are recorded as liability awards, outstanding cash-settled performance shares had a fair value of $7.99 per share and our liability for cash-settled performance shares was $1.9 million at September 30, 2013. | |||||||||||||||||||||||
A stock-settled performance share entitles the recipient to receive a number of shares of our common stock determined at the end of each of three successive annual performance periods. The number of shares of our common stock issuable equals the number of performance shares granted multiplied by the applicable performance factor. Compensation expense for stock-settled performance shares is recognized over the applicable annual performance period based on the estimated performance factor and the closing price of our common stock on the date each performance goal is established. This stock price was $5.22 for the first annual performance period. | |||||||||||||||||||||||
Stock Options. Outstanding stock options generally vest on each anniversary date of the original grant ratably over three years. Stock options granted since November 2007 also vest upon the Retirement of a participant. Compensation expense for stock options is recognized between the grant date and the vesting date (or the date on which a participant becomes Retirement-eligible, if sooner) on a straight-line basis for each tranche of each award. Stock option activity under the 2006 Plan is summarized below. | |||||||||||||||||||||||
Options | Weighted | Weighted | Aggregate | ||||||||||||||||||||
average | average | intrinsic | |||||||||||||||||||||
exercise | remaining | value | |||||||||||||||||||||
price | contractual | (millions) | |||||||||||||||||||||
per option | term (years) | ||||||||||||||||||||||
Outstanding at September 30, 2010 | 4,724,546 | $ | 7.89 | 7.9 | $ | — | |||||||||||||||||
Granted | 1,516,316 | 3.57 | |||||||||||||||||||||
Exercised | (7,327 | ) | 3.33 | — | |||||||||||||||||||
Canceled | (608,402 | ) | 7.78 | ||||||||||||||||||||
Outstanding at September 30, 2011 | 5,625,133 | 6.74 | 7.5 | — | |||||||||||||||||||
Granted | 677,117 | 2.18 | |||||||||||||||||||||
Exercised | (8,552 | ) | 3.59 | — | |||||||||||||||||||
Canceled | (771,088 | ) | 5.97 | ||||||||||||||||||||
Outstanding at September 30, 2012 | 5,522,610 | 6.3 | 6.8 | 3.5 | |||||||||||||||||||
Granted | 125,780 | 5.91 | |||||||||||||||||||||
Exercised | (384,475 | ) | 4.97 | 1.2 | |||||||||||||||||||
Canceled | (139,209 | ) | 12.52 | ||||||||||||||||||||
Outstanding at September 30, 2013 | 5,124,706 | $ | 6.22 | 5.9 | $ | 14.6 | |||||||||||||||||
Exercisable at September 30, 2013 | 4,172,371 | $ | 6.9 | 5.5 | $ | 10.1 | |||||||||||||||||
Expected to vest after September 30, 2013 | 924,327 | $ | 3.22 | 7.9 | $ | 4.4 | |||||||||||||||||
Stock option exercise prices are equal to the closing price of our common stock on the relevant grant date. The ranges of exercise prices for stock options outstanding at September 30, 2013 are summarized below. | |||||||||||||||||||||||
Exercise price | Options | Weighted | Weighted | Exercisable options | Weighted | ||||||||||||||||||
average | average | average | |||||||||||||||||||||
exercise price | remaining | exercise price | |||||||||||||||||||||
contractual | |||||||||||||||||||||||
term (years) | |||||||||||||||||||||||
$ | 2.03 | - | $ | 4.97 | 2,081,018 | $ | 3.27 | 7.3 | 1,254,463 | $ | 3.57 | ||||||||||||
5.05 | - | 9.48 | 2,026,658 | 5.68 | 5.8 | 1,900,878 | 5.66 | ||||||||||||||||
10.66 | - | 14.55 | 706,776 | 11.83 | 3.7 | 706,776 | 11.83 | ||||||||||||||||
15.09 | - | 20.56 | 310,254 | 16.71 | 2.8 | 310,254 | 16.71 | ||||||||||||||||
5,124,706 | $ | 6.22 | 5.9 | 4,172,371 | $ | 6.9 | |||||||||||||||||
Compensation expense attributed to stock options is based on the fair value of the awards on their respective grant dates, as determined using a Black-Scholes model. The weighted average grant-date fair values of stock options granted and the weighted average assumptions used to determine these fair values are indicated below. | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Grant-date fair value | $ | 5.91 | $ | 1.31 | $ | 1.25 | |||||||||||||||||
Risk-free interest rate | 1.63 | % | 1.74 | % | 2.26 | % | |||||||||||||||||
Dividend yield | 2.17 | % | 1.97 | % | 1.57 | % | |||||||||||||||||
Expected life (years) | 8 | 8 | 7.2 | ||||||||||||||||||||
Expected annual volatility | 0.6696 | 0.7342 | 0.3658 | ||||||||||||||||||||
The risk-free interest rate is based on the U.S. Treasury zero-coupon yield in effect at the grant date with a term equal to the expected life. The expected dividend yield is based on our estimated annual dividend and stock price history at the grant date. The expected term represents the period of time the awards are expected to be outstanding. In 2011, we determined the volatility assumption for calculating the fair value of our stock option grants based upon a group of peer companies. The average volatility for these peer companies had been used as we believed our volatility since our initial public offering in 2006 was not representative of expected volatility over the expected term of the stock option grants due to the historically unusual volatility in our end markets since the date of our initial public offering. In 2012, we concluded that our own historical volatility provided a better estimate of our expected volatility over the expected life of stock options granted in 2012 and beyond. | |||||||||||||||||||||||
Employee Stock Purchase Plan. The Mueller Water Products, Inc. 2006 Employee Stock Purchase Plan (“ESPP”) authorizes the sale of up to 4,000,000 shares of our common stock to employees. Generally, all full-time, active employees are eligible to participate in the ESPP. Employees may designate up to the lesser of $25,000 or 20% of their annual compensation for the purchase of our common stock. An employee's purchase during any three-month offering period is limited to 1,000 shares of our common stock. Any excess payroll withholdings are returned to the employee. The price for shares purchased under the ESPP is the lower of 85% of closing price on the first day or the last day of the offering period. At September 30, 2013, 1,887,163 shares were available for issuance under the ESPP. | |||||||||||||||||||||||
Phantom Plan. In 2012, the Company adopted the Mueller Water Products, Inc. Phantom Plan (“Phantom Plan”). The Phantom Plan awards were awarded to certain non-officer employees. Outstanding phantom awards vest ratably on each anniversary date of the original grant for three years. Compensation expense for Phantom Plan awards is charged against income on a straight-line basis for each tranche of each award based on the closing price of our common stock at each balance sheet date. Phantom Plan awards are recorded as liability awards and the outstanding Phantom Plan awards had a fair value of $7.99 per award and our liability for Phantom Plan awards was $2.5 million at September 30, 2013. Phantom Plan activity for 2013 is summarized below. | |||||||||||||||||||||||
Phantom Plan units | Weighted | Weighted | Aggregate | ||||||||||||||||||||
average | average | intrinsic | |||||||||||||||||||||
grant date | remaining | value | |||||||||||||||||||||
fair value | contractual | (millions) | |||||||||||||||||||||
per unit | term (years) | ||||||||||||||||||||||
Outstanding at September 30, 2011 | — | — | 0 | ||||||||||||||||||||
Granted | 358,866 | $ | 2.03 | ||||||||||||||||||||
Vested | — | $ | — | ||||||||||||||||||||
Canceled | — | — | |||||||||||||||||||||
Outstanding at September 30, 2012 | 358,866 | 2.03 | 1.2 | ||||||||||||||||||||
Granted | 382,605 | 5.22 | |||||||||||||||||||||
Vested | (119,637 | ) | 0.7 | ||||||||||||||||||||
Canceled | (12,852 | ) | 2.03 | ||||||||||||||||||||
Outstanding at September 30, 2013 | 608,982 | $ | 4.03 | 1 | |||||||||||||||||||
Supplemental_Balance_Sheet_Inf
Supplemental Balance Sheet Information | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Supplemental Balance Sheet Information | ' | |||||||
Supplemental Balance Sheet Information | ||||||||
Selected supplemental balance sheet information is presented below. | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
(in millions) | ||||||||
Inventories: | ||||||||
Purchased components and raw material | $ | 75.4 | $ | 69.7 | ||||
Work in process | 38.6 | 27.5 | ||||||
Finished goods | 94.5 | 86 | ||||||
$ | 208.5 | $ | 183.2 | |||||
Other current assets: | ||||||||
Maintenance and repair tooling | $ | 22.5 | 22.9 | |||||
Income taxes | 14.9 | 3.9 | ||||||
U.S. Pipe-related workers' compensation and other reimbursements | 2.2 | 4.3 | ||||||
Other | 6.5 | 6.9 | ||||||
$ | 46.1 | $ | 38 | |||||
Property, plant and equipment: | ||||||||
Land | $ | 10.6 | $ | 12.3 | ||||
Buildings | 75.5 | 71.3 | ||||||
Machinery and equipment | 305.7 | 286.5 | ||||||
Construction in progress | 19.6 | 12.4 | ||||||
411.4 | 382.5 | |||||||
Accumulated depreciation | (269.5 | ) | (244.6 | ) | ||||
$ | 141.9 | $ | 137.9 | |||||
Other current liabilities: | ||||||||
Compensation and benefits | $ | 37.3 | $ | 41 | ||||
Customer rebates | 15.5 | 13.7 | ||||||
Interest | 12 | 12.2 | ||||||
Taxes other than income taxes | 5 | 5.6 | ||||||
Warranty | 2.8 | 1.6 | ||||||
Income taxes | 1.3 | 0.9 | ||||||
Restructuring | — | 0.6 | ||||||
Environmental | 0.2 | 0.2 | ||||||
Other | 6.5 | 7 | ||||||
$ | 80.6 | $ | 82.8 | |||||
Supplemental_Statement_of_Oper
Supplemental Statement of Operations Information | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Supplemental Statement of Operations Information [Abstract] | ' | |||||||||||
Statement of Operations, Supplemental Disclosures [Text Block] | ' | |||||||||||
Supplemental Statement of Operations Information | ||||||||||||
Selected supplemental statement of operations information is presented below. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Included in selling, general and administrative expenses: | ||||||||||||
Research and development | $ | 14.8 | $ | 12.7 | $ | 9.9 | ||||||
Advertising | $ | 5 | $ | 4.9 | $ | 4.3 | ||||||
Interest expense, net: | ||||||||||||
7.375% Senior Subordinated Notes | $ | 31 | $ | 31 | $ | 31 | ||||||
8.75% Senior Unsecured Notes | 16.8 | 19.3 | 20 | |||||||||
Deferred financing fees amortization | 2 | 2.3 | 2.3 | |||||||||
ABL Agreement | 1.5 | 3.2 | 4 | |||||||||
Interest rate swap contracts | — | 5 | 8 | |||||||||
Other interest expense | 0.7 | (0.6 | ) | 0.6 | ||||||||
52 | 60.2 | 65.9 | ||||||||||
Interest income | (0.3 | ) | (0.3 | ) | (0.3 | ) | ||||||
$ | 51.7 | $ | 59.9 | $ | 65.6 | |||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||
Accumulated Other Comprehensive Loss | ||||||||||||
Accumulated other comprehensive loss is presented below. | ||||||||||||
Foreign currency translation | Minimum pension liability, net of tax | Total | ||||||||||
(in millions) | ||||||||||||
Balance at September 30, 2012 | $ | 9.2 | $ | (96.9 | ) | $ | (87.7 | ) | ||||
Current period other comprehensive income (loss) | (2.4 | ) | 61.5 | 59.1 | ||||||||
Balance at September 30, 2013 | $ | 6.8 | $ | (35.4 | ) | $ | (28.6 | ) | ||||
Accumulated other comprehensive loss is presented below. | ||||||||||||
Foreign currency translation | Minimum pension liability, net of tax | Total | ||||||||||
(in millions) | ||||||||||||
Balance at September 30, 2012 | $ | 9.2 | $ | (96.9 | ) | $ | (87.7 | ) | ||||
Current period other comprehensive income (loss) | (2.4 | ) | 61.5 | 59.1 | ||||||||
Balance at September 30, 2013 | $ | 6.8 | $ | (35.4 | ) | $ | (28.6 | ) | ||||
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||||
Cash Flow, Supplemental Disclosures [Text Block] | ' | |||||||||||
Supplemental Cash Flow Information | ||||||||||||
The impact these transactions had on our consolidated balance sheets is presented below. | ||||||||||||
September 30, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Pension and other postretirement plans: | ||||||||||||
Increase (decrease) in other noncurrent assets | $ | 0.3 | $ | (0.1 | ) | $ | (0.5 | ) | ||||
Decrease (increase) in other noncurrent liabilities | 51.5 | (36.2 | ) | 17.3 | ||||||||
Decrease (increase) in other current liabilities | — | 0.3 | (0.3 | ) | ||||||||
Decrease (increase) in deferred tax liabilities | (20.1 | ) | (0.6 | ) | (6.4 | ) | ||||||
Decrease (increase) in accumulated other comprehensive loss | (31.7 | ) | 36.6 | (10.1 | ) | |||||||
$ | — | $ | — | $ | — | |||||||
Cash paid (received), net: | ||||||||||||
Interest | $ | 49.1 | $ | 53.3 | $ | 54.8 | ||||||
Income taxes | $ | 0.7 | $ | (6.9 | ) | $ | 4.6 | |||||
Segment_Information
Segment Information | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | ' | |||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | |||||||||||||||
Segment Information | ||||||||||||||||
Our operations consist of two business segments: Mueller Co. and Anvil. These segments are organized primarily based on products sold and customers served and are consistent with how the segments are managed, how resources are allocated and how information is used by the chief operating decision maker. Mueller Co. manufactures valves for water and gas systems including butterfly, iron gate, tapping, check, plug and ball valves, dry-barrel and wet-barrel fire hydrants and metering, leak detection, pipe condition assessment and other products and services for the water infrastructure industry. Anvil manufactures and sources a broad range of products including a variety of fittings, couplings, hangers and related products. | ||||||||||||||||
Intersegment sales and transfers are made at selling prices generally intended to cover costs. The determination of segment results does not reflect allocations of certain corporate expenses not directly attributable to segment operations and intersegment sales and expenses, which are designated as Corporate. Interest, loss on early extinguishment of debt and income taxes are not allocated to business segments. Corporate expenses include those costs incurred by our corporate function, such as accounting, treasury, risk management, human resources, legal, tax and other administrative functions. Therefore, segment results are not reflective of their results on a stand-alone basis. Corporate assets principally consist of cash, income tax assets, receivables related to the sale of our former U.S. Pipe segment and deferred financing fees. Segment assets consist primarily of receivables, inventories, property, plant and equipment and identifiable intangible assets. | ||||||||||||||||
Geographical area information is presented below. | ||||||||||||||||
United States | Canada | Other | Total | |||||||||||||
(in millions) | ||||||||||||||||
Net sales: | ||||||||||||||||
2013 | $ | 971 | $ | 101.5 | $ | 48.3 | $ | 1,120.80 | ||||||||
2012 | 872.3 | 112.4 | 39.2 | 1,023.90 | ||||||||||||
2011 | 834 | 113.5 | 17.1 | 964.6 | ||||||||||||
Property, plant and equipment, net: | ||||||||||||||||
September 30, 2013 | $ | 133.6 | $ | 4.7 | $ | 3.6 | $ | 141.9 | ||||||||
September 30, 2012 | 129.2 | 5.6 | 3.1 | 137.9 | ||||||||||||
Approximately 38% of our 2013 gross sales were to our 10 largest distributors, and approximately 23% of our 2013 gross sales were to our two largest distributors, Ferguson Enterprises, Inc. (“Ferguson Enterprises”) and HD Supply, Inc. (“HD Supply”). Sales to Ferguson Enterprises comprised approximately 12%, 12% and 12% of our total gross sales during 2013, 2012 and 2011, respectively. In 2013, Ferguson Enterprises accounted for approximately 15% and 8% of gross sales for Mueller Co and Anvil, respectively. Receivables from Ferguson Enterprises totaled $22.9 million and $22.4 million at September 30, 2013 and 2012, respectively. Sales to HD Supply comprised approximately 11%, 10% and 10% of our total gross sales during 2013, 2012, and 2011, respectively. In 2013, HD Supply accounted for approximately 14% and 4% of gross sales for Mueller Co. and Anvil, respectively. Receivables from HD Supply totaled $24.4 million and $16.4 million at September 30, 2013 and 2012, respectively. | ||||||||||||||||
Summarized financial information for our segments is presented below. | ||||||||||||||||
Mueller Co. | Anvil | Corporate | Total | |||||||||||||
(in millions) | ||||||||||||||||
Net sales, excluding intercompany: | ||||||||||||||||
2013 | $ | 729.5 | $ | 391.3 | $ | — | $ | 1,120.80 | ||||||||
2012 | 652.4 | 371.5 | — | 1,023.90 | ||||||||||||
2011 | 605.5 | 359.1 | — | 964.6 | ||||||||||||
Intercompany sales: | ||||||||||||||||
2013 | $ | 7.4 | $ | 0.1 | $ | — | $ | 7.5 | ||||||||
2012 | 7.3 | 0.1 | — | 7.4 | ||||||||||||
2011 | 8.7 | 0.1 | — | 8.8 | ||||||||||||
Operating income (loss): | ||||||||||||||||
2013 | $ | 91.3 | $ | 40.2 | $ | (34.2 | ) | $ | 97.3 | |||||||
2012 | 57.7 | 37.3 | (30.9 | ) | 64.1 | |||||||||||
2011 | 53.8 | 31.8 | (32.9 | ) | 52.7 | |||||||||||
Depreciation and amortization: | ||||||||||||||||
2013 | $ | 44.6 | $ | 14.2 | $ | 0.4 | $ | 59.2 | ||||||||
2012 | 45.7 | 14.3 | 0.6 | 60.6 | ||||||||||||
2011 | 47.7 | 14.5 | 0.9 | 63.1 | ||||||||||||
Restructuring: | ||||||||||||||||
2013 | $ | 1.5 | $ | 0.1 | $ | (0.1 | ) | $ | 1.5 | |||||||
2012 | 2.5 | 0.3 | — | 2.8 | ||||||||||||
2011 | 1.4 | 1.2 | 1 | 3.6 | ||||||||||||
Capital expenditures: | ||||||||||||||||
2013 | $ | 23.1 | $ | 12.3 | $ | 0.2 | $ | 35.6 | ||||||||
2012 | 20 | 11.4 | — | 31.4 | ||||||||||||
2011 | 14.8 | 7.5 | 0.8 | 23.1 | ||||||||||||
Total assets: | ||||||||||||||||
September 30, 2013 | $ | 846.8 | $ | 259.6 | $ | 175.5 | $ | 1,281.90 | ||||||||
September 30, 2012 | 843 | 258.7 | 139.2 | 1,240.90 | ||||||||||||
Identifiable intangible assets, net: | ||||||||||||||||
September 30, 2013 | $ | 491.6 | $ | 61.5 | $ | — | $ | 553.1 | ||||||||
September 30, 2012 | 515.5 | 65 | — | 580.5 | ||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments And Contingencies | ' |
Commitments and Contingencies | |
We are involved in various legal proceedings that have arisen in the normal course of operations, including the proceedings summarized below. The effect of the outcome of these matters on our financial statements cannot be predicted with certainty as any such effect depends on the amount and timing of the resolution of such matters. Other than the litigation described below, we do not believe that any of our outstanding litigation would have a material adverse effect on our business or prospects. | |
Environmental. We are subject to a wide variety of laws and regulations concerning the protection of the environment, both with respect to the operations at many of our properties and with respect to remediating environmental conditions that may exist at our own or other properties. We strive to comply with federal, state and local environmental laws and regulations. We accrue for environmental expenses resulting from existing conditions that relate to past operations when the costs are probable and reasonably estimable. | |
In the acquisition agreement pursuant to which a predecessor to Tyco sold our Mueller Co. and Anvil businesses to the prior owners of these businesses in August 1999, Tyco agreed to indemnify us and our affiliates, among other things, for all “Excluded Liabilities.” Excluded Liabilities include, among other things, substantially all liabilities relating to the time prior to August 1999, including environmental liabilities. The indemnity survives indefinitely. Tyco's indemnity does not cover liabilities to the extent caused by us or the operation of our businesses after August 1999, nor does it cover liabilities arising with respect to businesses or sites acquired after August 1999. Since 2007, Tyco has engaged in multiple corporate restructurings, split-offs and divestitures. While none of these transactions directly affects the indemnification obligations of the Tyco indemnitors under the 1999 acquisition agreement, the result of such transactions is that the assets of, and control over, such Tyco indemnitors has changed. Should any of these Tyco indemnitors become financially unable or fail to comply with the terms of the indemnity, we may be responsible for such obligations or liabilities. | |
In September 1987, we implemented an Administrative Consent Order (“ACO”) for our Burlington, New Jersey property, which was required under the New Jersey Environmental Cleanup Responsibility Act (now known as the Industrial Site Recovery Act). The ACO required soil and ground-water cleanup, and we completed, and received final approval on, the soil cleanup required by the ACO. We retained this property related to the sale of our former U.S. Pipe segment. We expect ground-water issues as well as issues associated with the demolition of former manufacturing facilities at this site will continue and remediation by us could be required. Long-term ground-water monitoring may also be required, but we do not know how long such monitoring would be required and do not believe monitoring or further remediation costs, if any, will have a material adverse effect on any of our financial statements. | |
On July 13, 2010, Rohcan Investments Limited, the former owner of property leased by Mueller Canada Ltd. and located in Milton, Ontario, filed suit against Mueller Canada Ltd. and its directors seeking C$10.0 million in damages arising from the defendants' alleged environmental contamination of the property and breach of lease. Mueller Canada Ltd. leased the property from 1988 through 2008. We are pursuing indemnification from a former owner for certain potential liabilities that are alleged in this lawsuit, and we have accrued for other liabilities not covered by indemnification. On December 7, 2011, the Court denied the plaintiff's motion for summary judgment. | |
Walter Energy-related Income Taxes. Each member of a consolidated group for federal income tax purposes is severally liable for the federal income tax liability of each other member of the consolidated group for any year in which it is a member of the group at any time during such year. Each member of the Walter Energy consolidated group, which included us through December 14, 2006, is also jointly and severally liable for pension and benefit funding and termination liabilities of other group members, as well as certain benefit plan taxes. Accordingly, we could be liable under such provisions in the event any such liability is incurred, and not discharged, by any other member of the Walter Energy consolidated group for any period during which we were included in the Walter Energy consolidated group. | |
A dispute exists with regard to federal income taxes for 1980 through 1994 allegedly owed by the Walter Energy consolidated group. According to Walter Energy's last available public filing on the matter, Walter Energy's management estimated that the amount of tax claimed by the IRS was approximately $34.0 million for issues currently in dispute in bankruptcy court for matters unrelated to us. This amount is subject to interest and penalties. Of the $34.0 million in claimed tax, $21.0 million represents issues in which the IRS is not challenging the deductibility of the particular expense but only whether such expense is deductible in a particular year. Walter Energy's management believes that Walter Energy's financial exposure should be limited to interest and possible penalties and the amount of any tax claimed will be offset by favorable adjustments in other years. | |
In addition, the IRS previously issued a Notice of Proposed Deficiency assessing additional tax of $82.2 million for the fiscal years ended May 31, 2000 through December 31, 2005. Walter Energy filed a formal protest with the IRS, but had not reached a final resolution with the Appeals Division at September 30, 2013. The unresolved issues relate primarily to Walter Energy's method of recognizing revenue on the sale of homes and related interest on the installment notes receivable. The items at issue relate primarily to the timing of revenue recognition and consequently, should the IRS prevail on its positions, Walter Energy's financial exposure should be limited to interest and penalties. As a matter of law, we are jointly and severally liable for any final tax determination for any year in which any of our subsidiaries were members of the Walter Energy consolidated group, which means that we would be liable in the event Walter Energy is unable to pay any amounts owed. Walter Energy has disclosed that it believes its filing positions have substantial merit and that it intends to defend vigorously any claims asserted. | |
Walter Energy effectively controlled all of our tax decisions for periods during which we were a member of the Walter Energy consolidated group for federal income tax purposes and certain combined, consolidated or unitary state and local income tax groups. Under the terms of the income tax allocation agreement between us and Walter Energy dated May 26, 2006, we generally compute our tax liability on a stand-alone basis, but Walter Energy has sole authority to respond to and conduct all tax proceedings (including tax audits) relating to our federal income and combined state returns, to file all such returns on our behalf and to determine the amount of our liability to (or entitlement to payment from) Walter Energy for such previous periods. This arrangement may result in conflicts between Walter Energy and us. | |
Our separation from Walter Energy on December 14, 2006 was intended to qualify as a tax-free spin-off under Section 355 of the Internal Revenue Code. In addition, the tax allocation agreement provides that if the spin-off is determined not to be tax-free pursuant to Section 355, we generally will be responsible for any taxes incurred by Walter Energy or its shareholders if such taxes result from certain of our actions or omissions and for a percentage of any such taxes that are not a result of our actions or omissions or Walter Energy's actions or omissions or taxes based upon our market value relative to Walter Energy's market value. Additionally, to the extent that Walter Energy was unable to pay taxes, if any, attributable to the spin-off and for which it is responsible under the tax allocation agreement, we could be liable for those taxes as a result of being a member of the Walter Energy consolidated group for the year in which the spin-off occurred. | |
In accordance with the income tax allocation agreement, Walter Energy used certain tax assets of one of our predecessors in its calendar 2006 tax return for which payment to us is required. The income tax allocation agreement only requires Walter Energy to make the payment upon realization of the tax benefit by receiving a refund or otherwise offsetting taxes due. Walter Energy currently owes us $11.6 million, which includes recent tax audit and amended tax return adjustments, that is payable pending completion of an IRS audit of Walter Energy's 2006 tax year and the related refund of tax from that year. This receivable is included in other current assets at September 30, 2013. | |
Indemnifications. We are a party to contracts in which it is common for us to agree to indemnify third parties for certain liabilities that arise out of or relate to the subject matter of the contract. In some cases, this indemnity extends to related liabilities arising from the negligence of the indemnified parties, but usually excludes any liabilities caused by gross negligence or willful misconduct. We cannot estimate the potential amount of future payments under these indemnities until events arise that would trigger a liability under the indemnities. | |
Additionally, in connection with the sale of assets and the divestiture of businesses, such as the divestiture of our U.S. Pipe segment, we may agree to indemnify buyers and related parties for certain losses or liabilities incurred by these parties with respect to: (i) the representations and warranties made by us to these parties in connection with the sale and (ii) liabilities related to the pre-closing operations of the assets or business sold. Indemnities related to pre-closing operations generally include certain environmental and tax liabilities and other liabilities not assumed by these parties in the transaction. | |
Indemnities related to the pre-closing operations of sold assets or businesses normally do not represent additional liabilities to us, but simply serve to protect these parties from potential liability associated with our obligations existing at the time of the sale. As with any liability, we have accrued for those pre-closing obligations that are considered probable and reasonably estimable. Should circumstances change, increasing the likelihood of payments related to a specific indemnity, we will accrue a liability when future payment is probable and the amount is reasonably estimable. | |
Other Matters. We are party to a number of other lawsuits arising in the ordinary course of business, including product liability cases for products manufactured by us or third parties. We provide for costs relating to these matters when a loss is probable and the amount is reasonably estimable. Administrative costs related to these matters are expensed as incurred. The effect of the outcome of these matters on our future financial statements cannot be predicted with certainty as any such effect depends on the amount and timing of the resolution of such matters. While the results of litigation cannot be predicted with certainty, we believe that the final outcome of such other litigation is not likely to have a materially adverse effect on our business or prospects. | |
Operating Leases. We maintain operating leases primarily for equipment and facilities. Rent expense was $8.4 million, $8.4 million and $8.5 million for 2013, 2012 and 2011, respectively. Future minimum payments under non-cancelable operating leases are $7.1 million, $5.9 million, $5.0 million, $3.9 million and $2.3 million during 2014, 2015, 2016, 2017 and 2018, respectively. Total minimum payments due beyond 2018 are $3.6 million. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
On October 23, 2013, our board of directors declared a dividend of $0.0175 per share on our common stock, payable on or about November 20, 2013 to stockholders of record at the close of business on November 8, 2013. |
Quarterly_Consolidated_Financi
Quarterly Consolidated Financial Information (Unaudited) | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Quarterly Financial Information [Text Block] | ' | |||||||||||||||
Quarterly Consolidated Financial Information (Unaudited) | ||||||||||||||||
Quarter | ||||||||||||||||
Fourth | Third | Second | First | |||||||||||||
(in millions, except per share amounts) | ||||||||||||||||
2013:00:00 | ||||||||||||||||
Net sales | $ | 293.2 | $ | 299.4 | $ | 283.1 | $ | 245.1 | ||||||||
Gross profit | 88.8 | 90 | 77.3 | 57.1 | ||||||||||||
Operating income | 33.2 | 32.9 | 24.3 | 6.9 | ||||||||||||
Income (loss) from continuing operations | $ | 16.8 | $ | 16 | $ | 7.6 | $ | (5.0 | ) | |||||||
Loss from discontinued operations | (3.3 | ) | (1.9 | ) | (1.4 | ) | 12 | |||||||||
Net income | $ | 13.5 | $ | 14.1 | $ | 6.2 | $ | 7 | ||||||||
Net income per basic share(1): | ||||||||||||||||
Continuing operations | $ | 0.11 | $ | 0.1 | $ | 0.05 | $ | (0.03 | ) | |||||||
Discontinued operations | (0.02 | ) | (0.01 | ) | (0.01 | ) | 0.07 | |||||||||
Net income | $ | 0.09 | $ | 0.09 | $ | 0.04 | $ | 0.04 | ||||||||
Net income per diluted share(1): | ||||||||||||||||
Continuing operations | $ | 0.1 | $ | 0.1 | $ | 0.05 | $ | (0.03 | ) | |||||||
Discontinued operations | (0.02 | ) | (0.01 | ) | (0.01 | ) | 0.07 | |||||||||
Net income | $ | 0.08 | $ | 0.09 | $ | 0.04 | $ | 0.04 | ||||||||
2012:00:00 | ||||||||||||||||
Net sales | $ | 281.1 | $ | 275.9 | $ | 251.5 | $ | 215.4 | ||||||||
Gross profit | 76.6 | 79.6 | 62.1 | 52.8 | ||||||||||||
Operating income | 21.9 | 25.7 | 10.6 | 5.9 | ||||||||||||
Income (loss) from continuing operations | $ | 4.3 | $ | 5.9 | $ | (8.9 | ) | $ | (6.5 | ) | ||||||
Income (loss) from discontinued operations | (0.8 | ) | 3.9 | (100.9 | ) | (5.4 | ) | |||||||||
Net income (loss) | $ | 3.5 | $ | 9.8 | $ | (109.8 | ) | $ | (11.9 | ) | ||||||
Net loss per basic share(1): | ||||||||||||||||
Continuing operations | $ | 0.03 | $ | 0.04 | $ | (0.06 | ) | $ | (0.04 | ) | ||||||
Discontinued operations | (0.01 | ) | 0.02 | (0.64 | ) | (0.04 | ) | |||||||||
Net income (loss) | $ | 0.02 | $ | 0.06 | $ | (0.70 | ) | $ | (0.08 | ) | ||||||
Net income (loss) per diluted share(1): | ||||||||||||||||
Continuing operations | $ | 0.03 | $ | 0.04 | $ | (0.06 | ) | $ | (0.04 | ) | ||||||
Discontinued operations | (0.01 | ) | 0.02 | (0.64 | ) | (0.04 | ) | |||||||||
Net income (loss) | $ | 0.02 | $ | 0.06 | $ | (0.70 | ) | $ | (0.08 | ) | ||||||
(1) | The sum of the quarterly amounts may not equal the full year amount due to rounding. |
Consolidating_Guarantor_and_No
Consolidating Guarantor and Non-Guarantor Financial Information | 12 Months Ended | ||
Sep. 30, 2013 | |||
Consolidating Guarantor And Non-Guarantor Financial Information [Abstract] | ' | ||
Consolidating Guarantor and Non-Guarantor Financial Information [Text Block] | ' | ||
The following information is included as a result of the guarantee by certain of our wholly-owned U.S. subsidiaries (“Guarantor Companies”) of the Senior Unsecured Notes and the Senior Subordinated Notes. None of our other subsidiaries guarantee the Senior Unsecured Notes and the Senior Subordinated Notes. Each of the guarantees is joint and several and full and unconditional. Guarantor Companies are listed below. | |||
Name | State of | ||
incorporation | |||
or organization | |||
Anvil International, LLC | Delaware | ||
Echologics, LLC | Delaware | ||
Henry Pratt Company, LLC | Delaware | ||
Henry Pratt International, LLC | Delaware | ||
Hydro Gate, LLC | Delaware | ||
J.B. Smith Mfg. Co., LLC | Delaware | ||
James Jones Company, LLC | Delaware | ||
Milliken Valve, LLC | Delaware | ||
Mueller Co. LLC | Delaware | ||
Mueller Group, LLC | Delaware | ||
Mueller Group Co-Issuer, Inc. | Delaware | ||
Mueller International, L.L.C. | Delaware | ||
Mueller Property Holdings, LLC | Delaware | ||
Mueller Co. International Holdings, LLC | Delaware | ||
Mueller Service California, Inc. | Delaware | ||
Mueller Service Co., LLC | Delaware | ||
Mueller Systems, LLC | Delaware | ||
OSP, LLC | Delaware | ||
U.S. Pipe Valve & Hydrant, LLC | Delaware |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Inventory Supplies, Policy | ' |
-Other current assets include maintenance supplies and tooling costs. Costs for perishable tools and maintenance items are expensed when put into service. Costs for more durable items are amortized over their estimated useful lives, ranging from 3 to 10 years. | |
Revenue Recognition | ' |
Revenue Recognition-Revenue is recognized when delivery of products has occurred or services have been rendered and there is persuasive evidence of a sales arrangement, selling prices are fixed or determinable and collectibility is reasonably assured. Revenue is reported net of estimated discounts, returns and rebates as “net sales.” | |
Shipping and Handling | ' |
Shipping and Handling-Costs to ship products to customers are included in cost of sales. Amounts billed to customers, if any, to cover shipping and handling costs are included in net sales. | |
Share-based Compensation | ' |
Stock-based Compensation-Compensation expense for stock-based awards granted to employees and directors is based on the fair value at the grant dates for most of our outstanding stock-based compensation awards, and is based on the fair value at each reporting date for our Phantom Plan and cash-settled performance share awards. See Note 9 for more information regarding our stock-based compensation. Stock-based compensation expense is a component of selling, general and administrative expenses. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents-All highly liquid investments with remaining maturities of 90 days or less when purchased are classified as cash equivalents. Where there is no right of offset against cash balances, outstanding checks are included in accounts payable. | |
Receivables | ' |
Receivables-Receivables are amounts due from customers. To reduce credit risk, credit investigations are generally performed prior to accepting orders from new customers and, when necessary, letters of credit, bonds or other instruments are required to ensure payment. | |
The estimated allowance for doubtful receivables is based upon judgments and estimates of expected losses and specific identification of problem accounts. Significantly weaker than anticipated industry or economic conditions could impact customers' ability to pay such that actual losses may be greater than the amounts provided for in this allowance. The periodic evaluation of the adequacy of the allowance for doubtful receivables is based on an analysis of prior collection experience, specific customer creditworthiness and current economic trends within the industries served. In circumstances where we expect a specific customer's inability to meet its financial obligations (e.g., bankruptcy filings or substantial downgrading of credit ratings), we record a specific allowance to reduce the receivable to the amount management reasonably believes will be collected. | |
Inventories | ' |
Inventories-Inventories are recorded at the lower of first-in, first-out method cost or market value. We evaluate our inventory in terms of excess and obsolete exposures. This evaluation includes such factors as anticipated usage, inventory turnover, inventory levels and ultimate product sales value. Inventory cost includes an overhead component that is affected by levels of production and actual costs incurred. Management periodically evaluates the effects of production levels and costs capitalized as part of inventory. | |
Property, Plant and Equipment | ' |
Property, Plant and Equipment-Property, plant and equipment is recorded at cost, less accumulated depreciation. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets. Estimated useful lives are 10 to 20 years for land improvements, 10 to 40 years for buildings and 3 to 15 years for machinery and equipment. Leasehold improvements and capitalized leases are depreciated using the straight-line method over the lesser of the useful life of the asset or the remaining lease term. Gains and losses upon disposition are reflected in operating results in the period of disposition. | |
Direct internal and external costs to implement computer systems and internal-use software are capitalized. Capitalized costs are depreciated over the estimated useful life of the system or software, generally 3 to 5 years, beginning when site installation or module development is complete and ready for use. | |
Liabilities are recognized at fair value for asset retirement obligations related to plant and landfill closures in the period in which they are incurred and the carrying amounts of the related long-lived assets are correspondingly increased. Over time, the liabilities are accreted to their estimated future values. At September 30, 2013 and 2012, asset retirement obligations were $3.6 million and $3.5 million, respectively. | |
Accounting for the Impairment of Long-Lived Assets | ' |
Accounting for the Impairment of Long-Lived Assets- We test intangible assets that have an indefinite life for impairment annually (or more frequently if events or circumstances indicate possible impairment.) We perform our annual impairment testing at September 1. We amortize finite-lived intangible assets over their respective estimated useful lives and review for impairment if events or circumstances indicate possible impairment. | |
Workers Compensation | ' |
Workers Compensation-Our exposure to workers compensation claims is generally limited to $1 million per incident. Liabilities, including those related to claims incurred but not reported, are recorded principally using annual valuations based on discounted future expected payments and using historical data combined with insurance industry data when historical data is limited. We are indemnified by a predecessor to Tyco International Ltd. for all Mueller Co. and Anvil workers compensation liabilities related to incidents that occurred prior to August 16, 1999. See Note 15. We retained U.S. Pipe workers compensation liabilities related to incidents that occurred prior to April 1, 2012, but the Purchaser has agreed to reimburse us for up to $11.8 million in payments we make related to these liabilities. At September 30, 2013, the remaining reimbursements may be up to $8.3 million, which we have recorded as $1.8 million in other current assets and $5.3 million in other noncurrent assets. See Note 4. On an undiscounted basis, workers compensation liabilities were $20.0 million and $22.6 million at September 30, 2013 and 2012, respectively. On a discounted basis, workers compensation liabilities were $17.2 million and $20.0 million at September 30, 2013 and 2012, respectively. | |
We apply a discount rate at a risk-free interest rate, generally a U.S. Treasury bill rate, for each policy period. The rate used is one with a duration that corresponds to the weighted average expected payout period for each policy period. Once a discount rate is applied to a policy period, it remains the discount rate for that policy period until al | |
Warranty Costs | ' |
Warranty Costs-We accrue for warranty expenses that can include customer costs of repair and/or replacement, including labor, materials, equipment, freight and reasonable overhead costs. We accrue for the estimated cost of product warranties at the time of sale if such costs are determined to be reasonably estimable at that time. Warranty cost estimates are revised throughout applicable warranty periods as better information regarding warranty costs becomes available. | |
Deferred Financing Fees | ' |
Deferred Financing Fees-Costs of debt financing are charged to expense over the lives of the related financing agreements, which ranged from 5 to 10 years. Remaining costs and the future period over which they would be charged to expense are reassessed when amendments to the related financing agreements or prepayments occur. | |
Deferred financing fees of $8.9 million at September 30, 2013 are scheduled to amortize as follows: $2.9 million related to the ABL Agreement amortizes on a straight-line basis; $3.2 million related to the Senior Unsecured Notes amortizes using the effective-interest rate method; and $2.8 million related to the Senior Subordinated Notes amortizes using the effective-interest rate method. All such amortization is over the remaining term of the respective debt. | |
Derivative Instruments and Hedging Activities | ' |
Derivative Instruments and Hedging Activities-Changes in the fair value of derivative instruments accounted for as effective cash-flow hedges were recorded to accumulated other comprehensive loss. Gains and losses on derivative instruments not qualifying as effective cash-flow hedges, representing hedge ineffectiveness and hedge components excluded from the assessment of effectiveness, were recognized in earnings in the periods in which they occurred. | |
Our ongoing business operations expose us to commodity price risk and interest rate risk, which we had previously managed to some extent using derivative instruments. We used natural gas swap contracts at U.S. Pipe to manage the price risk associated with purchases of natural gas used in certain of our manufacturing processes and interest rate swap contracts to manage interest rate risk associated with our variable-rate borrowings. During 2010, we terminated all of our remaining interest rate swap contracts and we have reclassified expense related to these swap contracts from accumulated other comprehensive loss to interest expense in 2012 and 2011. We have not initiated any new interest rate swap contracts since then. During 2012, we terminated our remaining natural gas swap contract and have not initiated any new natural gas swap contracts since then. | |
We had designated our natural gas swap contracts and interest rate swap contracts as cash flow hedges of our purchases of natural gas and our interest payments, respectively. As a result, to the extent the hedges were effective, the changes in the fair value of these contracts prior to settlement were reported as a component of accumulated other comprehensive loss and reclassified into earnings in the periods during which the hedged transactions affected, or were expected to affect, earnings. | |
Income Taxes | ' |
Income Taxes-Deferred tax liabilities and deferred tax assets are recognized for the expected future tax consequences of events that have been included in the financial statements or tax returns. Such liabilities and assets are determined based on the differences between the financial statement basis and the tax basis of assets and liabilities, using tax rates in effect for the years in which the differences are expected to reverse. A valuation allowance is provided when, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. | |
We only record tax benefits for positions that management believes are more likely than not of being sustained under audit based solely on the technical merits of the associated tax position. The amount of tax benefit recognized for any position that meets the more likely than not threshold is the largest amount of the tax benefit that we believe is greater than 50% likely of being realized. | |
Environmental Expenditures | ' |
Environmental Expenditures-We capitalize environmental expenditures that increase the life or efficiency of noncurrent assets or that reduce or prevent environmental contamination. We accrue for environmental expenses resulting from existing conditions that relate to past operations when the costs are probable and reasonably estimable. We are indemnified under an agreement with a predecessor to Tyco for certain environmental liabilities that existed at August 16, 1999. See Note 15. | |
Research and Development | ' |
Research and Development-Research and development costs are expensed as incurred. | |
Advertising | ' |
Advertising-Advertising costs are expensed as incurred. | |
Translation of Foreign Currency | ' |
Translation of Foreign Currency-Assets and liabilities of our businesses whose functional currency is other than the U.S. dollar are translated into U.S. dollars using currency exchange rates at the balance sheet date. Revenues and expenses are translated at average currency exchange rates during the period. Foreign currency translation gains and losses are reported as a component of accumulated other comprehensive loss. Gains and losses resulting from foreign currency transactions are included in operating results as incurred. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Inventory Reserve Rollforward [Abstract] | ' | |||||||||||
Schedule of Product Warranty Liability | ' | |||||||||||
Activity in accrued warranty, reported as part of other current liabilities, is presented below. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Balance at beginning of year | $ | 1.6 | $ | 2 | $ | 1.5 | ||||||
Warranty expense | 4.2 | 1.4 | 1.6 | |||||||||
Warranty payments | (3.0 | ) | (1.8 | ) | (1.1 | ) | ||||||
Balance at end of year | $ | 2.8 | $ | 1.6 | $ | 2 | ||||||
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block] | ' | |||||||||||
The following table summarizes information concerning our allowance for doubtful receivables. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Balance at beginning of year | $ | 5.7 | $ | 4.8 | $ | 5.3 | ||||||
Provision charged (credited) to expense | 0.4 | 0.6 | (0.1 | ) | ||||||||
Balances written off, net of recoveries | (0.8 | ) | (0.1 | ) | (0.3 | ) | ||||||
Reclassifications | — | 0.4 | — | |||||||||
Other | — | — | (0.1 | ) | ||||||||
Balance at end of year | $ | 5.3 | $ | 5.7 | $ | 4.8 | ||||||
Schedule of Reserves for Excess and Obsolete Inventory | ' | |||||||||||
The following table summarizes information concerning our inventory valuation reserves. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Balance at beginning of year | $ | 12.5 | $ | 12.7 | $ | 13.4 | ||||||
Provision charged to expense | 2.4 | 1.8 | 1.2 | |||||||||
Inventory disposed | (4.6 | ) | (2.2 | ) | (1.6 | ) | ||||||
Other | 0.3 | 0.2 | (0.3 | ) | ||||||||
Balance at end of year | $ | 10.6 | $ | 12.5 | $ | 12.7 | ||||||
Identifiable_Intangible_Assets1
Identifiable Intangible Assets (Tables) | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Intangible Assets [Abstract] | ' | |||||||
Schedule of Intangible Assets [Table Text Block] | ' | |||||||
Identifiable intangible assets are presented below. | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
(in millions) | ||||||||
Capitalized external-use software: | ||||||||
Cost | $ | 12.2 | $ | 8.8 | ||||
Accumulated amortization | (4.3 | ) | (2.0 | ) | ||||
Net book value | 7.9 | 6.8 | ||||||
Business combination-related: | ||||||||
Cost: | ||||||||
Finite-lived intangible assets: | ||||||||
Technology | 80.1 | 79.3 | ||||||
Customer relationships and other | 398.1 | 398.2 | ||||||
Indefinite-lived intangible assets: | ||||||||
Trade names and trademarks | 300 | 299.7 | ||||||
778.2 | 777.2 | |||||||
Accumulated amortization: | ||||||||
Technology | (61.5 | ) | (53.5 | ) | ||||
Customer relationships | (171.5 | ) | (150.0 | ) | ||||
(233.0 | ) | (203.5 | ) | |||||
Net book value | 545.2 | 573.7 | ||||||
Total identifiable intangible assets net book value | $ | 553.1 | $ | 580.5 | ||||
Discontinued_Operations_Assets1
Discontinued Operations, Assets Held for Sale and Divestitures (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Schedule of Discontined Operations [Abstract] | ' | |||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||||||||||
The table below represents a summary of the operating results for the U.S. Pipe discontinued operations. These operating results do not reflect what they would have been had U.S. Pipe not been classified as discontinued operations. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Net sales | $ | — | $ | 197 | $ | 374.6 | ||||||
Cost of sales | — | 197.9 | 388.6 | |||||||||
Gross loss | — | (0.9 | ) | (14.0 | ) | |||||||
Operating expenses (income) | (0.5 | ) | 4.2 | 32 | ||||||||
Operating income (loss) | 0.5 | (5.1 | ) | (46.0 | ) | |||||||
Interest expense | — | 0.3 | — | |||||||||
(Income) loss on sale of discontinued operations | (4.9 | ) | 119.7 | — | ||||||||
Income tax benefit | — | (21.9 | ) | (17.9 | ) | |||||||
Income (loss) from discontinued operations, net of tax | $ | 5.4 | $ | (103.2 | ) | $ | (28.1 | ) | ||||
The allocations of current income tax expense (benefit) between continuing and discontinued operations are provided below. | ||||||||||||
2013 | ||||||||||||
Continuing operations | Discontinued operations | |||||||||||
(in millions) | ||||||||||||
Expense from operations | $ | 17.5 | $ | 2.1 | ||||||||
Valuation allowance-related benefit | (8.5 | ) | (2.1 | ) | ||||||||
Other items | (0.2 | ) | — | |||||||||
Income tax expense | $ | 8.8 | $ | — | ||||||||
2012 | ||||||||||||
Continuing operations | Discontinued operations | |||||||||||
(in millions) | ||||||||||||
Expense (benefit) from operations | $ | 1.4 | $ | (48.7 | ) | |||||||
Valuation allowance-related expense | 6.5 | 26.7 | ||||||||||
Other items | — | 0.1 | ||||||||||
Income tax expense (benefit) | $ | 7.9 | $ | (21.9 | ) | |||||||
2011 | ||||||||||||
Continuing operations | Discontinued operations | |||||||||||
(in millions) | ||||||||||||
Benefit from operations | $ | (3.4 | ) | $ | (17.9 | ) | ||||||
Valuation allowance-related expense | 0.5 | — | ||||||||||
Income tax benefit | $ | (2.9 | ) | $ | (17.9 | ) |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of Income before Income Tax, Domestic and Foreign | ' | |||||||||||
The components of income (loss) before income taxes are presented below. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
U.S. | $ | 41 | $ | (0.1 | ) | $ | (15.2 | ) | ||||
Non-U.S. | 3.2 | 2.8 | 2.3 | |||||||||
Income (loss) before income taxes | $ | 44.2 | $ | 2.7 | $ | (12.9 | ) | |||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||||||
Income tax expense (benefit) from continuing operations is presented below. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Current: | ||||||||||||
U.S. federal | $ | 0.6 | $ | 0.2 | $ | 3.8 | ||||||
U.S. state and local | 0.1 | (1.0 | ) | (0.6 | ) | |||||||
Non-U.S. | 0.8 | 1.1 | (0.2 | ) | ||||||||
1.5 | 0.3 | 3 | ||||||||||
Deferred: | ||||||||||||
U.S. federal | 6.2 | (0.6 | ) | (5.7 | ) | |||||||
U.S. state and local | 1.3 | 9 | (0.2 | ) | ||||||||
Non-U.S. | (0.2 | ) | (0.8 | ) | — | |||||||
7.3 | 7.6 | (5.9 | ) | |||||||||
Income tax expense (benefit) | $ | 8.8 | $ | 7.9 | $ | (2.9 | ) | |||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||||||||||
The table below represents a summary of the operating results for the U.S. Pipe discontinued operations. These operating results do not reflect what they would have been had U.S. Pipe not been classified as discontinued operations. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Net sales | $ | — | $ | 197 | $ | 374.6 | ||||||
Cost of sales | — | 197.9 | 388.6 | |||||||||
Gross loss | — | (0.9 | ) | (14.0 | ) | |||||||
Operating expenses (income) | (0.5 | ) | 4.2 | 32 | ||||||||
Operating income (loss) | 0.5 | (5.1 | ) | (46.0 | ) | |||||||
Interest expense | — | 0.3 | — | |||||||||
(Income) loss on sale of discontinued operations | (4.9 | ) | 119.7 | — | ||||||||
Income tax benefit | — | (21.9 | ) | (17.9 | ) | |||||||
Income (loss) from discontinued operations, net of tax | $ | 5.4 | $ | (103.2 | ) | $ | (28.1 | ) | ||||
The allocations of current income tax expense (benefit) between continuing and discontinued operations are provided below. | ||||||||||||
2013 | ||||||||||||
Continuing operations | Discontinued operations | |||||||||||
(in millions) | ||||||||||||
Expense from operations | $ | 17.5 | $ | 2.1 | ||||||||
Valuation allowance-related benefit | (8.5 | ) | (2.1 | ) | ||||||||
Other items | (0.2 | ) | — | |||||||||
Income tax expense | $ | 8.8 | $ | — | ||||||||
2012 | ||||||||||||
Continuing operations | Discontinued operations | |||||||||||
(in millions) | ||||||||||||
Expense (benefit) from operations | $ | 1.4 | $ | (48.7 | ) | |||||||
Valuation allowance-related expense | 6.5 | 26.7 | ||||||||||
Other items | — | 0.1 | ||||||||||
Income tax expense (benefit) | $ | 7.9 | $ | (21.9 | ) | |||||||
2011 | ||||||||||||
Continuing operations | Discontinued operations | |||||||||||
(in millions) | ||||||||||||
Benefit from operations | $ | (3.4 | ) | $ | (17.9 | ) | ||||||
Valuation allowance-related expense | 0.5 | — | ||||||||||
Income tax benefit | $ | (2.9 | ) | $ | (17.9 | ) | ||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||||||
The reconciliation between income tax expense (benefit) at the U.S. federal statutory income tax rate and reported income tax expense (benefit) from continuing operations is presented below. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Expense (benefit) at U.S. federal statutory income tax rate of 35% | $ | 15.5 | $ | 0.9 | $ | (4.5 | ) | |||||
Adjustments to reconcile to income tax expense (benefit): | ||||||||||||
Federal valuation allowance | (7.8 | ) | — | — | ||||||||
State income taxes, net of federal benefit | 2 | (0.8 | ) | (0.5 | ) | |||||||
State valuation allowance, net of federal benefit | (1.1 | ) | 5.9 | — | ||||||||
Tax credits | (0.6 | ) | (0.1 | ) | (0.3 | ) | ||||||
Other nondeductible expenses | 0.5 | 0.7 | 0.5 | |||||||||
Foreign income taxes | 0.4 | (0.3 | ) | 0.2 | ||||||||
Nondeductible compensation | 0.2 | 1.4 | 1.3 | |||||||||
Other | (0.3 | ) | 0.2 | 0.4 | ||||||||
Income tax expense (benefit) | $ | 8.8 | $ | 7.9 | $ | (2.9 | ) | |||||
Schedule of Deferred Tax Assets and Liabilities | ' | |||||||||||
Deferred income tax balances are presented below. | ||||||||||||
September 30, | ||||||||||||
2013 | 2012 | |||||||||||
(in millions) | ||||||||||||
Deferred income tax assets: | ||||||||||||
Inventory reserves | $ | 17.2 | $ | 13.5 | ||||||||
Accrued expenses | 17.2 | 19.4 | ||||||||||
Pension and other postretirement benefits | 2.4 | 24.7 | ||||||||||
Stock-based compensation | 9.1 | 7 | ||||||||||
State net operating losses | 13.4 | 16.9 | ||||||||||
Federal net operating losses and credit carryovers | 37.4 | 65.1 | ||||||||||
Other | 1.6 | 1.7 | ||||||||||
98.3 | 148.3 | |||||||||||
Valuation allowance | (10.3 | ) | (49.2 | ) | ||||||||
Total deferred income tax assets, net of valuation allowance | 88 | 99.1 | ||||||||||
Deferred income tax liabilities: | ||||||||||||
Identifiable intangible assets | 199.8 | 206.9 | ||||||||||
Other | 3 | 5.4 | ||||||||||
Total deferred income tax liabilities | 202.8 | 212.3 | ||||||||||
Net deferred income tax liabilities | $ | 114.8 | $ | 113.2 | ||||||||
Summary of Valuation Allowance | ' | |||||||||||
The allocations of the valuation allowance charge among continuing operations, discontinued operations, and accumulated other comprehensive loss are presented below. | ||||||||||||
2013 | 2012 | |||||||||||
(in millions) | ||||||||||||
Balance at beginning of year | $ | 49.2 | $ | 1.3 | ||||||||
Increase (decrease) allocated to continuing operations | (8.5 | ) | 6.5 | |||||||||
Increase (decrease) allocated to discontinued operations | (2.1 | ) | 26.7 | |||||||||
Increase (decrease) allocated to accumulated other comprehensive loss | (27.8 | ) | 15.2 | |||||||||
Expired items | (0.5 | ) | (0.5 | ) | ||||||||
Balance at end of year | $ | 10.3 | $ | 49.2 | ||||||||
Summary of Unrecognized Tax Benefits | ' | |||||||||||
The following table summarizes information concerning our gross unrecognized tax benefits. | ||||||||||||
2013 | 2012 | |||||||||||
(in millions) | ||||||||||||
Balance at beginning of year | $ | 4.3 | $ | 7.8 | ||||||||
Increases related to prior year positions | 0.5 | 0.6 | ||||||||||
Decreases related to prior year positions | — | (0.2 | ) | |||||||||
Decreases due to lapse in statute of limitations | (1.1 | ) | (2.5 | ) | ||||||||
Payments and settlements | — | (1.4 | ) | |||||||||
Balance at end of year | $ | 3.7 | $ | 4.3 | ||||||||
Borrowing_Arrangements_Tables
Borrowing Arrangements (Tables) | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Long-term Debt and Capital Lease Obligations [Abstract] | ' | |||||||
Components of Long-Term Debt | ' | |||||||
The components of our long-term debt are presented below. | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
(in millions) | ||||||||
ABL Agreement | $ | — | $ | — | ||||
8.75% Senior Unsecured Notes | 178 | 199.9 | ||||||
7.375% Senior Subordinated Notes | 420 | 420 | ||||||
Other | 2.8 | 2.9 | ||||||
600.8 | 622.8 | |||||||
Less current portion | (1.3 | ) | (1.1 | ) | ||||
Long-term debt | $ | 599.5 | $ | 621.7 | ||||
Retirement_Plans_Tables
Retirement Plans (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Net Periodic Benefit Cost | ' | ||||||||||||||||
The components of net periodic benefit cost (gain) are presented below. | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
(in millions) | |||||||||||||||||
Service cost | $ | 2 | $ | 1.8 | $ | 2.5 | |||||||||||
Interest cost | 18.3 | 20.2 | 21.2 | ||||||||||||||
Expected return on plan assets | (25.1 | ) | (24.0 | ) | (23.4 | ) | |||||||||||
Amortization of prior service cost | — | 0.6 | 0.6 | ||||||||||||||
Amortization of net loss | 9 | 6 | 5.9 | ||||||||||||||
Curtailment / special settlement loss | 0.1 | 0.2 | 0.7 | ||||||||||||||
Costs allocated to discontinued operations | — | (1.1 | ) | (4.3 | ) | ||||||||||||
Net periodic benefit cost | $ | 4.3 | $ | 3.7 | $ | 3.2 | |||||||||||
Schedule of Accumulated and Projected Benefit Obligations | ' | ||||||||||||||||
information for Pension Plans with accumulated benefit obligations in excess of plan assets is presented below. | |||||||||||||||||
September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
(in millions) | |||||||||||||||||
Projected benefit obligations | $ | 390.4 | $ | 445.2 | |||||||||||||
Accumulated benefit obligations | 390.4 | 445 | |||||||||||||||
Fair value of plan assets | 384.8 | 383.2 | |||||||||||||||
Balance sheet information for Pension Plans with accumulated benefit obligations less than plan assets is presented below. | |||||||||||||||||
September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
(in millions) | |||||||||||||||||
Projected benefit obligations | $ | 9.2 | $ | 3.1 | |||||||||||||
Accumulated benefit obligations | 9.1 | 3.1 | |||||||||||||||
Fair value of plan assets | 10.4 | 3.9 | |||||||||||||||
Schedule Of Defined Benefit Plans Disclosures | ' | ||||||||||||||||
Amounts recognized for our Pension Plans and other postretirement benefit plans are presented below. | |||||||||||||||||
Pension Plans | Other Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in millions) | |||||||||||||||||
Projected benefit obligations: | |||||||||||||||||
Beginning of year | $ | 448.3 | $ | 381.3 | $ | 0.2 | $ | 2.1 | |||||||||
Service cost | 2 | 1.8 | — | — | |||||||||||||
Interest cost | 18.3 | 20.2 | — | 0.1 | |||||||||||||
Plan amendment | — | — | — | (1.4 | ) | ||||||||||||
Actuarial loss (gain) | (42.5 | ) | 71.6 | — | (0.1 | ) | |||||||||||
Benefits paid | (26.0 | ) | (24.7 | ) | (0.2 | ) | (0.5 | ) | |||||||||
Currency translation | (0.5 | ) | 0.6 | — | — | ||||||||||||
Decrease in obligation due to curtailment | — | (2.8 | ) | — | — | ||||||||||||
Other | — | 0.3 | — | — | |||||||||||||
End of year | $ | 399.6 | $ | 448.3 | $ | — | $ | 0.2 | |||||||||
Accumulated benefit obligations at end of year | $ | 399.5 | $ | 448.1 | $ | — | $ | 0.2 | |||||||||
Plan assets: | |||||||||||||||||
Beginning of year | $ | 387.1 | $ | 331.8 | $ | — | $ | — | |||||||||
Actual return on plan assets | 34.4 | 58.2 | — | — | |||||||||||||
Employer contributions | 0.2 | 21.3 | 0.2 | 0.5 | |||||||||||||
Currency translation | (0.5 | ) | 0.5 | — | — | ||||||||||||
Benefits paid | (26.0 | ) | (24.7 | ) | (0.2 | ) | (0.5 | ) | |||||||||
End of year | $ | 395.2 | $ | 387.1 | $ | — | $ | — | |||||||||
Accrued benefit cost at end of year: | |||||||||||||||||
Unfunded status | $ | (4.4 | ) | $ | (61.2 | ) | $ | — | $ | (0.2 | ) | ||||||
Recognized on balance sheet: | |||||||||||||||||
Other noncurrent assets | $ | 1.3 | $ | 0.9 | $ | — | $ | — | |||||||||
Other current liabilities | — | — | — | (0.1 | ) | ||||||||||||
Other noncurrent liabilities | (5.7 | ) | (62.1 | ) | — | (0.1 | ) | ||||||||||
$ | (4.4 | ) | $ | (61.2 | ) | $ | — | $ | (0.2 | ) | |||||||
Recognized in accumulated other comprehensive loss, before tax: | |||||||||||||||||
Prior year service cost (gain) | $ | 0.2 | $ | 0.3 | $ | — | $ | (0.4 | ) | ||||||||
Net actuarial loss (gain) | 74.5 | 135.3 | — | (4.2 | ) | ||||||||||||
$ | 74.7 | $ | 135.6 | $ | — | $ | (4.6 | ) | |||||||||
Schedule of Pension and Other Postretirement Benefits Activity in Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||
Pension Plan activity in accumulated other comprehensive loss, before tax, in 2013 is presented below, in millions. | |||||||||||||||||
Balance at beginning of year | $ | 135.6 | |||||||||||||||
Actuarial gain | (51.8 | ) | |||||||||||||||
Prior year service loss amortization to net periodic cost | (9.0 | ) | |||||||||||||||
Other | (0.1 | ) | |||||||||||||||
Balance at end of year | $ | 74.7 | |||||||||||||||
Schedule of Components of Accumulated Other Comprehensive Income (Loss) Related to Pension and Other Postretirement Benefits Expected to be Amortized | ' | ||||||||||||||||
The components of accumulated other comprehensive loss related to pension that we expect to amortize into net periodic benefit cost in 2014 are presented below, in millions. | |||||||||||||||||
Amortization of unrecognized prior year service cost | $ | 0.1 | |||||||||||||||
Amortization of unrecognized loss | 3.5 | ||||||||||||||||
$ | 3.6 | ||||||||||||||||
Schedule of Assumptions Used | ' | ||||||||||||||||
A summary of key assumptions for our pension and other postretirement benefit plans is below. | |||||||||||||||||
Pension Plans | Other Plans | ||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||
Weighted average used to determine benefit obligations: | |||||||||||||||||
Discount rate | 5.16 | % | 4.21 | % | 5.66 | % | n/a | 4.22 | % | 5.69 | % | ||||||
Rate of compensation increases | 3.5 | 3.5 | 3.5 | n/a | n/a | n/a | |||||||||||
Weighted average used to determine net periodic cost: | |||||||||||||||||
Discount rate | 4.21 | % | 5.66 | % | 5.88 | % | n/a | 5.69 | % | 5.88 | % | ||||||
Expected return on plan assets | 6.71 | 6.95 | 7.47 | n/a | n/a | n/a | |||||||||||
Rate of compensation increases | 3.5 | 3.5 | 3.5 | n/a | n/a | n/a | |||||||||||
Assumed healthcare cost trend rates: | |||||||||||||||||
Next year – pre-65 | n/a | n/a | n/a | n/a | n/a | 7.5 | % | ||||||||||
Ultimate trend rate – pre-65 | n/a | n/a | n/a | n/a | n/a | 5 | % | ||||||||||
Year ultimate trend rate achieved | n/a | n/a | n/a | n/a | n/a | 2016 | |||||||||||
Schedule of Effect of One-Percentage-Point Change in Assumptions | ' | ||||||||||||||||
Assumed discount rates, expected return on plan assets and salary increases affect the amounts reported for the Pension Plans. The effects of a one-percentage-point change in the trend rate for these assumptions are below. | |||||||||||||||||
1 Percentage | 1 Percentage | ||||||||||||||||
point increase | point decrease | ||||||||||||||||
(in millions) | |||||||||||||||||
Discount rate: | |||||||||||||||||
Effect on pension service cost | $ | (0.2 | ) | $ | 0.3 | ||||||||||||
Effect on pension benefit obligations | (39.2 | ) | 47.3 | ||||||||||||||
Effect on 2014 pension expense | (2.3 | ) | 2.7 | ||||||||||||||
Expected return on plan assets: | |||||||||||||||||
Effect on 2014 pension expense | (3.8 | ) | 3.8 | ||||||||||||||
Schedule of Strategic Allocation of Plan Assets | ' | ||||||||||||||||
We maintain a single trust to hold the assets of the U.S. pension plan. During 2013, the strategic asset allocation was adjusted to 40% equity investments from 60% equity investments. This trust's strategic asset allocations, tactical range at September 30, 2013 and actual asset allocations are presented below. | |||||||||||||||||
Strategic asset allocation | Actual asset allocations at | ||||||||||||||||
September 30, | |||||||||||||||||
Tactical range | 2013 | 2012 | 2011 | ||||||||||||||
Equity investments: | |||||||||||||||||
Large capitalization stocks | 26 | % | |||||||||||||||
Small capitalization stocks | 5 | ||||||||||||||||
International stocks | 9 | ||||||||||||||||
40 | 30 | - | 50% | 40 | % | 59 | % | 46 | % | ||||||||
Fixed income investments | 60 | 50 | - | 70 | 59 | 39 | 53 | ||||||||||
Cash | — | 0 | - | 5 | 1 | 2 | 1 | ||||||||||
100 | % | 100 | % | 100 | % | 100 | % | ||||||||||
In 2013, $1.5 million of investments classified as level 3 in the prior year were reclassified as level 2 fixed income funds, after receiving more complete valuation information from the trustee. The assets of the Pension Plans by level within the fair value hierarchy are presented below. | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
(in millions) | |||||||||||||||||
Equity: | |||||||||||||||||
Large cap stocks: | |||||||||||||||||
Large cap growth funds | $ | — | $ | 31.7 | $ | — | $ | 31.7 | |||||||||
Large cap index funds | — | 26.1 | — | 26.1 | |||||||||||||
Large cap value funds | — | 16.3 | — | 16.3 | |||||||||||||
Large cap growth mutual funds | 16.1 | — | — | 16.1 | |||||||||||||
Small cap stocks: | |||||||||||||||||
Small cap growth funds | — | 23.5 | — | 23.5 | |||||||||||||
International stocks: | |||||||||||||||||
Mutual funds | 31.5 | — | — | 31.5 | |||||||||||||
International funds | — | 15.7 | — | 15.7 | |||||||||||||
Total equity | 47.6 | 113.3 | — | 160.9 | |||||||||||||
Fixed income | — | 229.8 | — | 229.8 | |||||||||||||
Cash and cash equivalents | 4.5 | — | — | 4.5 | |||||||||||||
$ | 52.1 | $ | 343.1 | $ | — | $ | 395.2 | ||||||||||
September 30, 2012 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
(in millions) | |||||||||||||||||
Equity: | |||||||||||||||||
Large cap stocks: | |||||||||||||||||
Large cap growth funds | $ | — | $ | 15.6 | $ | — | $ | 15.6 | |||||||||
Large cap value funds | — | 30.4 | — | 30.4 | |||||||||||||
Large cap value mutual funds | 31.3 | — | — | 31.3 | |||||||||||||
Large cap growth mutual funds | 71.7 | — | — | 71.7 | |||||||||||||
Small cap stocks: | |||||||||||||||||
Small cap index funds | — | 36.3 | — | 36.3 | |||||||||||||
International stocks: | |||||||||||||||||
Mutual funds | 31.4 | — | — | 31.4 | |||||||||||||
International funds | — | 10.6 | — | 10.6 | |||||||||||||
Total equity | 134.4 | 92.9 | — | 227.3 | |||||||||||||
Fixed income | — | 151.3 | — | 151.3 | |||||||||||||
Cash and cash equivalents | 0.2 | 6.8 | — | 7 | |||||||||||||
Other | — | — | 1.5 | 1.5 | |||||||||||||
$ | 134.6 | $ | 251 | $ | 1.5 | $ | 387.1 | ||||||||||
Schedule of Expected Benefit Payments | ' | ||||||||||||||||
The estimated pension benefit payments, which reflect expected future service, as appropriate, are presented below in millions. | |||||||||||||||||
2014 | $ | 26.5 | |||||||||||||||
2015 | 26.4 | ||||||||||||||||
2016 | 26.5 | ||||||||||||||||
2017 | 26.7 | ||||||||||||||||
2018 | 27 | ||||||||||||||||
2019-2023 | 137 | ||||||||||||||||
Capital_Stock_Tables
Capital Stock (Tables) | 12 Months Ended | ||
Sep. 30, 2013 | |||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ' | ||
Schedule of Common Stock Outstanding Roll Forward [Table Text Block] | ' | ||
Common stock share activity is presented below. | |||
Shares outstanding at September 30, 2010 | 154,708,474 | ||
Exercise of stock options | 7,327 | ||
Exercise of employee stock purchase plan instruments | 397,010 | ||
Vesting of restricted stock units, net of shares withheld | 680,801 | ||
Shares outstanding at September 30, 2011 | 155,793,612 | ||
Exercise of stock options | 8,552 | ||
Exercise of employee stock purchase plan instruments | 339,242 | ||
Vesting of restricted stock units, net of shares withheld | 699,242 | ||
Shares outstanding at September 30, 2012 | 156,840,648 | ||
Exercise of stock options | 384,475 | ||
Exercise of employee stock purchase plan instruments | 290,173 | ||
Vesting of restricted stock units, net of shares withheld | 719,004 | ||
Shares outstanding at September 30, 2013 | 158,234,300 | ||
Stockbased_Compensation_Plans_
Stock-based Compensation Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | ' | ||||||||||||||||||||||
Schedule of Share-based Compensation, Effect on Statement of Operations | ' | ||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
(in millions, except per share data) | |||||||||||||||||||||||
Decrease in operating income | $ | 11.4 | $ | 6 | $ | 5 | |||||||||||||||||
Decrease in net income or increase in net loss | 6.9 | 3.5 | 3.3 | ||||||||||||||||||||
Effect on earnings or loss per basic share | 0.04 | 0.02 | 0.02 | ||||||||||||||||||||
Effect on earnings or loss per diluted share | 0.04 | 0.02 | 0.02 | ||||||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | ' | ||||||||||||||||||||||
Restricted Stock Units. Depending on the specific terms of each award, restricted stock units generally vest either on the three-year or seven-year anniversary of the grant date, or ratably over the life of the award, usually three years, on each anniversary date of the original grant. Restricted stock units granted since November 2007 also vest upon the Retirement (as defined in the 2006 Plan) of a participant. Compensation expense for restricted stock units is recognized between the grant date and the vesting date (or the date on which a participant becomes Retirement-eligible, if sooner) on a straight-line basis for each tranche of each award. Fair values of restricted stock units are determined using the closing price of our common stock on the respective dates of grant. Restricted stock unit activity under the 2006 Plan is summarized below. | |||||||||||||||||||||||
Restricted stock units | Weighted | Weighted | Aggregate | ||||||||||||||||||||
average | average | intrinsic | |||||||||||||||||||||
grant date fair value per unit | remaining | value | |||||||||||||||||||||
contractual | (millions) | ||||||||||||||||||||||
term (years) | |||||||||||||||||||||||
Outstanding at September 30, 2010 | 2,095,713 | $ | 7.66 | 1.9 | |||||||||||||||||||
Granted | 990,139 | 3.63 | |||||||||||||||||||||
Vested | (762,893 | ) | 7.02 | $ | 2.7 | ||||||||||||||||||
Canceled | (257,193 | ) | 6.48 | ||||||||||||||||||||
Outstanding at September 30, 2011 | 2,065,766 | 6.11 | 1.6 | ||||||||||||||||||||
Granted | 1,406,318 | 2.19 | |||||||||||||||||||||
Vested | (867,451 | ) | 5.44 | 2.2 | |||||||||||||||||||
Canceled | (180,871 | ) | 5.33 | ||||||||||||||||||||
Outstanding at September 30, 2012 | 2,423,762 | 4.13 | 1 | ||||||||||||||||||||
Granted | 509,338 | 5.37 | |||||||||||||||||||||
Vested | (995,037 | ) | 4.77 | 5.6 | |||||||||||||||||||
Canceled | (12,723 | ) | 12.28 | ||||||||||||||||||||
Outstanding at September 30, 2013 | 1,925,340 | $ | 4.3 | 0.9 | |||||||||||||||||||
Schedule of Share-based Compensation. Options | ' | ||||||||||||||||||||||
Stock Options. Outstanding stock options generally vest on each anniversary date of the original grant ratably over three years. Stock options granted since November 2007 also vest upon the Retirement of a participant. Compensation expense for stock options is recognized between the grant date and the vesting date (or the date on which a participant becomes Retirement-eligible, if sooner) on a straight-line basis for each tranche of each award. Stock option activity under the 2006 Plan is summarized below. | |||||||||||||||||||||||
Options | Weighted | Weighted | Aggregate | ||||||||||||||||||||
average | average | intrinsic | |||||||||||||||||||||
exercise | remaining | value | |||||||||||||||||||||
price | contractual | (millions) | |||||||||||||||||||||
per option | term (years) | ||||||||||||||||||||||
Outstanding at September 30, 2010 | 4,724,546 | $ | 7.89 | 7.9 | $ | — | |||||||||||||||||
Granted | 1,516,316 | 3.57 | |||||||||||||||||||||
Exercised | (7,327 | ) | 3.33 | — | |||||||||||||||||||
Canceled | (608,402 | ) | 7.78 | ||||||||||||||||||||
Outstanding at September 30, 2011 | 5,625,133 | 6.74 | 7.5 | — | |||||||||||||||||||
Granted | 677,117 | 2.18 | |||||||||||||||||||||
Exercised | (8,552 | ) | 3.59 | — | |||||||||||||||||||
Canceled | (771,088 | ) | 5.97 | ||||||||||||||||||||
Outstanding at September 30, 2012 | 5,522,610 | 6.3 | 6.8 | 3.5 | |||||||||||||||||||
Granted | 125,780 | 5.91 | |||||||||||||||||||||
Exercised | (384,475 | ) | 4.97 | 1.2 | |||||||||||||||||||
Canceled | (139,209 | ) | 12.52 | ||||||||||||||||||||
Outstanding at September 30, 2013 | 5,124,706 | $ | 6.22 | 5.9 | $ | 14.6 | |||||||||||||||||
Exercisable at September 30, 2013 | 4,172,371 | $ | 6.9 | 5.5 | $ | 10.1 | |||||||||||||||||
Expected to vest after September 30, 2013 | 924,327 | $ | 3.22 | 7.9 | $ | 4.4 | |||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | ||||||||||||||||||||||
Stock option exercise prices are equal to the closing price of our common stock on the relevant grant date. The ranges of exercise prices for stock options outstanding at September 30, 2013 are summarized below. | |||||||||||||||||||||||
Exercise price | Options | Weighted | Weighted | Exercisable options | Weighted | ||||||||||||||||||
average | average | average | |||||||||||||||||||||
exercise price | remaining | exercise price | |||||||||||||||||||||
contractual | |||||||||||||||||||||||
term (years) | |||||||||||||||||||||||
$ | 2.03 | - | $ | 4.97 | 2,081,018 | $ | 3.27 | 7.3 | 1,254,463 | $ | 3.57 | ||||||||||||
5.05 | - | 9.48 | 2,026,658 | 5.68 | 5.8 | 1,900,878 | 5.66 | ||||||||||||||||
10.66 | - | 14.55 | 706,776 | 11.83 | 3.7 | 706,776 | 11.83 | ||||||||||||||||
15.09 | - | 20.56 | 310,254 | 16.71 | 2.8 | 310,254 | 16.71 | ||||||||||||||||
5,124,706 | $ | 6.22 | 5.9 | 4,172,371 | $ | 6.9 | |||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | ' | ||||||||||||||||||||||
Compensation expense attributed to stock options is based on the fair value of the awards on their respective grant dates, as determined using a Black-Scholes model. The weighted average grant-date fair values of stock options granted and the weighted average assumptions used to determine these fair values are indicated below. | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Grant-date fair value | $ | 5.91 | $ | 1.31 | $ | 1.25 | |||||||||||||||||
Risk-free interest rate | 1.63 | % | 1.74 | % | 2.26 | % | |||||||||||||||||
Dividend yield | 2.17 | % | 1.97 | % | 1.57 | % | |||||||||||||||||
Expected life (years) | 8 | 8 | 7.2 | ||||||||||||||||||||
Expected annual volatility | 0.6696 | 0.7342 | 0.3658 | ||||||||||||||||||||
The risk-free interest rate is based on the U.S. Treasury zero-coupon yield in effect at the grant date with a term equal to the expected life. The expected dividend yield is based on our estimated annual dividend and stock price history at the grant date. The expected term represents the period of time the awards are expected to be outstanding. In 2011, we determined the volatility assumption for calculating the fair value of our stock option grants based upon a group of peer companies. The average volatility for these peer companies had been used as we believed our volatility since our initial public offering in 2006 was not representative of expected volatility over the expected term of the stock option grants due to the historically unusual volatility in our end markets since the date of our initial public offering. In 2012, we concluded that our own historical volatility provided a better estimate of our expected volatility over the expected life of stock options granted in 2012 and beyond. | |||||||||||||||||||||||
Schedule of Share-based Compensation, Phantom Award, Activity | ' | ||||||||||||||||||||||
Phantom Plan. In 2012, the Company adopted the Mueller Water Products, Inc. Phantom Plan (“Phantom Plan”). The Phantom Plan awards were awarded to certain non-officer employees. Outstanding phantom awards vest ratably on each anniversary date of the original grant for three years. Compensation expense for Phantom Plan awards is charged against income on a straight-line basis for each tranche of each award based on the closing price of our common stock at each balance sheet date. Phantom Plan awards are recorded as liability awards and the outstanding Phantom Plan awards had a fair value of $7.99 per award and our liability for Phantom Plan awards was $2.5 million at September 30, 2013. Phantom Plan activity for 2013 is summarized below. | |||||||||||||||||||||||
Phantom Plan units | Weighted | Weighted | Aggregate | ||||||||||||||||||||
average | average | intrinsic | |||||||||||||||||||||
grant date | remaining | value | |||||||||||||||||||||
fair value | contractual | (millions) | |||||||||||||||||||||
per unit | term (years) | ||||||||||||||||||||||
Outstanding at September 30, 2011 | — | — | 0 | ||||||||||||||||||||
Granted | 358,866 | $ | 2.03 | ||||||||||||||||||||
Vested | — | $ | — | ||||||||||||||||||||
Canceled | — | — | |||||||||||||||||||||
Outstanding at September 30, 2012 | 358,866 | 2.03 | 1.2 | ||||||||||||||||||||
Granted | 382,605 | 5.22 | |||||||||||||||||||||
Vested | (119,637 | ) | 0.7 | ||||||||||||||||||||
Canceled | (12,852 | ) | 2.03 | ||||||||||||||||||||
Outstanding at September 30, 2013 | 608,982 | $ | 4.03 | 1 | |||||||||||||||||||
Supplemental_Balance_Sheet_Inf1
Supplemental Balance Sheet Information (Tables) | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Schedule Of Selected Supplemental Balance Sheet Information [Table Text Block] | ' | |||||||
Selected supplemental balance sheet information is presented below. | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
(in millions) | ||||||||
Inventories: | ||||||||
Purchased components and raw material | $ | 75.4 | $ | 69.7 | ||||
Work in process | 38.6 | 27.5 | ||||||
Finished goods | 94.5 | 86 | ||||||
$ | 208.5 | $ | 183.2 | |||||
Other current assets: | ||||||||
Maintenance and repair tooling | $ | 22.5 | 22.9 | |||||
Income taxes | 14.9 | 3.9 | ||||||
U.S. Pipe-related workers' compensation and other reimbursements | 2.2 | 4.3 | ||||||
Other | 6.5 | 6.9 | ||||||
$ | 46.1 | $ | 38 | |||||
Property, plant and equipment: | ||||||||
Land | $ | 10.6 | $ | 12.3 | ||||
Buildings | 75.5 | 71.3 | ||||||
Machinery and equipment | 305.7 | 286.5 | ||||||
Construction in progress | 19.6 | 12.4 | ||||||
411.4 | 382.5 | |||||||
Accumulated depreciation | (269.5 | ) | (244.6 | ) | ||||
$ | 141.9 | $ | 137.9 | |||||
Other current liabilities: | ||||||||
Compensation and benefits | $ | 37.3 | $ | 41 | ||||
Customer rebates | 15.5 | 13.7 | ||||||
Interest | 12 | 12.2 | ||||||
Taxes other than income taxes | 5 | 5.6 | ||||||
Warranty | 2.8 | 1.6 | ||||||
Income taxes | 1.3 | 0.9 | ||||||
Restructuring | — | 0.6 | ||||||
Environmental | 0.2 | 0.2 | ||||||
Other | 6.5 | 7 | ||||||
$ | 80.6 | $ | 82.8 | |||||
Supplemental_Statement_of_Oper1
Supplemental Statement of Operations Information (Tables) (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Other Income and Expenses [Abstract] | ' | |||||||||||
Schedule of Operations, Supplemental Disclosures [Table Text Block] | ' | |||||||||||
Selected supplemental statement of operations information is presented below. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Included in selling, general and administrative expenses: | ||||||||||||
Research and development | $ | 14.8 | $ | 12.7 | $ | 9.9 | ||||||
Advertising | $ | 5 | $ | 4.9 | $ | 4.3 | ||||||
Interest expense, net: | ||||||||||||
7.375% Senior Subordinated Notes | $ | 31 | $ | 31 | $ | 31 | ||||||
8.75% Senior Unsecured Notes | 16.8 | 19.3 | 20 | |||||||||
Deferred financing fees amortization | 2 | 2.3 | 2.3 | |||||||||
ABL Agreement | 1.5 | 3.2 | 4 | |||||||||
Interest rate swap contracts | — | 5 | 8 | |||||||||
Other interest expense | 0.7 | (0.6 | ) | 0.6 | ||||||||
52 | 60.2 | 65.9 | ||||||||||
Interest income | (0.3 | ) | (0.3 | ) | (0.3 | ) | ||||||
$ | 51.7 | $ | 59.9 | $ | 65.6 | |||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | |||||||||||
Schedule Of Accumulated Other Comprehensive Loss | ' | |||||||||||
Accumulated Other Comprehensive Loss | ||||||||||||
Accumulated other comprehensive loss is presented below. | ||||||||||||
Foreign currency translation | Minimum pension liability, net of tax | Total | ||||||||||
(in millions) | ||||||||||||
Balance at September 30, 2012 | $ | 9.2 | $ | (96.9 | ) | $ | (87.7 | ) | ||||
Current period other comprehensive income (loss) | (2.4 | ) | 61.5 | 59.1 | ||||||||
Balance at September 30, 2013 | $ | 6.8 | $ | (35.4 | ) | $ | (28.6 | ) | ||||
Accumulated other comprehensive loss is presented below. | ||||||||||||
Foreign currency translation | Minimum pension liability, net of tax | Total | ||||||||||
(in millions) | ||||||||||||
Balance at September 30, 2012 | $ | 9.2 | $ | (96.9 | ) | $ | (87.7 | ) | ||||
Current period other comprehensive income (loss) | (2.4 | ) | 61.5 | 59.1 | ||||||||
Balance at September 30, 2013 | $ | 6.8 | $ | (35.4 | ) | $ | (28.6 | ) | ||||
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||||
Schedule of Cash Flow, Supplemental Disclosures | ' | |||||||||||
The impact these transactions had on our consolidated balance sheets is presented below. | ||||||||||||
September 30, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in millions) | ||||||||||||
Pension and other postretirement plans: | ||||||||||||
Increase (decrease) in other noncurrent assets | $ | 0.3 | $ | (0.1 | ) | $ | (0.5 | ) | ||||
Decrease (increase) in other noncurrent liabilities | 51.5 | (36.2 | ) | 17.3 | ||||||||
Decrease (increase) in other current liabilities | — | 0.3 | (0.3 | ) | ||||||||
Decrease (increase) in deferred tax liabilities | (20.1 | ) | (0.6 | ) | (6.4 | ) | ||||||
Decrease (increase) in accumulated other comprehensive loss | (31.7 | ) | 36.6 | (10.1 | ) | |||||||
$ | — | $ | — | $ | — | |||||||
Cash paid (received), net: | ||||||||||||
Interest | $ | 49.1 | $ | 53.3 | $ | 54.8 | ||||||
Income taxes | $ | 0.7 | $ | (6.9 | ) | $ | 4.6 | |||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | ' | |||||||||||||||
Geographical area information is presented below. | ||||||||||||||||
United States | Canada | Other | Total | |||||||||||||
(in millions) | ||||||||||||||||
Net sales: | ||||||||||||||||
2013 | $ | 971 | $ | 101.5 | $ | 48.3 | $ | 1,120.80 | ||||||||
2012 | 872.3 | 112.4 | 39.2 | 1,023.90 | ||||||||||||
2011 | 834 | 113.5 | 17.1 | 964.6 | ||||||||||||
Property, plant and equipment, net: | ||||||||||||||||
September 30, 2013 | $ | 133.6 | $ | 4.7 | $ | 3.6 | $ | 141.9 | ||||||||
September 30, 2012 | 129.2 | 5.6 | 3.1 | 137.9 | ||||||||||||
Schedule Of Selected Supplemental Balance Sheet Information | ' | |||||||||||||||
Summarized financial information for our segments is presented below. | ||||||||||||||||
Mueller Co. | Anvil | Corporate | Total | |||||||||||||
(in millions) | ||||||||||||||||
Net sales, excluding intercompany: | ||||||||||||||||
2013 | $ | 729.5 | $ | 391.3 | $ | — | $ | 1,120.80 | ||||||||
2012 | 652.4 | 371.5 | — | 1,023.90 | ||||||||||||
2011 | 605.5 | 359.1 | — | 964.6 | ||||||||||||
Intercompany sales: | ||||||||||||||||
2013 | $ | 7.4 | $ | 0.1 | $ | — | $ | 7.5 | ||||||||
2012 | 7.3 | 0.1 | — | 7.4 | ||||||||||||
2011 | 8.7 | 0.1 | — | 8.8 | ||||||||||||
Operating income (loss): | ||||||||||||||||
2013 | $ | 91.3 | $ | 40.2 | $ | (34.2 | ) | $ | 97.3 | |||||||
2012 | 57.7 | 37.3 | (30.9 | ) | 64.1 | |||||||||||
2011 | 53.8 | 31.8 | (32.9 | ) | 52.7 | |||||||||||
Depreciation and amortization: | ||||||||||||||||
2013 | $ | 44.6 | $ | 14.2 | $ | 0.4 | $ | 59.2 | ||||||||
2012 | 45.7 | 14.3 | 0.6 | 60.6 | ||||||||||||
2011 | 47.7 | 14.5 | 0.9 | 63.1 | ||||||||||||
Restructuring: | ||||||||||||||||
2013 | $ | 1.5 | $ | 0.1 | $ | (0.1 | ) | $ | 1.5 | |||||||
2012 | 2.5 | 0.3 | — | 2.8 | ||||||||||||
2011 | 1.4 | 1.2 | 1 | 3.6 | ||||||||||||
Capital expenditures: | ||||||||||||||||
2013 | $ | 23.1 | $ | 12.3 | $ | 0.2 | $ | 35.6 | ||||||||
2012 | 20 | 11.4 | — | 31.4 | ||||||||||||
2011 | 14.8 | 7.5 | 0.8 | 23.1 | ||||||||||||
Total assets: | ||||||||||||||||
September 30, 2013 | $ | 846.8 | $ | 259.6 | $ | 175.5 | $ | 1,281.90 | ||||||||
September 30, 2012 | 843 | 258.7 | 139.2 | 1,240.90 | ||||||||||||
Identifiable intangible assets, net: | ||||||||||||||||
September 30, 2013 | $ | 491.6 | $ | 61.5 | $ | — | $ | 553.1 | ||||||||
September 30, 2012 | 515.5 | 65 | — | 580.5 | ||||||||||||
Quarterly_Consolidated_Financi1
Quarterly Consolidated Financial Information (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Quarterly Financial Information | ' | |||||||||||||||
Quarter | ||||||||||||||||
Fourth | Third | Second | First | |||||||||||||
(in millions, except per share amounts) | ||||||||||||||||
2013:00:00 | ||||||||||||||||
Net sales | $ | 293.2 | $ | 299.4 | $ | 283.1 | $ | 245.1 | ||||||||
Gross profit | 88.8 | 90 | 77.3 | 57.1 | ||||||||||||
Operating income | 33.2 | 32.9 | 24.3 | 6.9 | ||||||||||||
Income (loss) from continuing operations | $ | 16.8 | $ | 16 | $ | 7.6 | $ | (5.0 | ) | |||||||
Loss from discontinued operations | (3.3 | ) | (1.9 | ) | (1.4 | ) | 12 | |||||||||
Net income | $ | 13.5 | $ | 14.1 | $ | 6.2 | $ | 7 | ||||||||
Net income per basic share(1): | ||||||||||||||||
Continuing operations | $ | 0.11 | $ | 0.1 | $ | 0.05 | $ | (0.03 | ) | |||||||
Discontinued operations | (0.02 | ) | (0.01 | ) | (0.01 | ) | 0.07 | |||||||||
Net income | $ | 0.09 | $ | 0.09 | $ | 0.04 | $ | 0.04 | ||||||||
Net income per diluted share(1): | ||||||||||||||||
Continuing operations | $ | 0.1 | $ | 0.1 | $ | 0.05 | $ | (0.03 | ) | |||||||
Discontinued operations | (0.02 | ) | (0.01 | ) | (0.01 | ) | 0.07 | |||||||||
Net income | $ | 0.08 | $ | 0.09 | $ | 0.04 | $ | 0.04 | ||||||||
2012:00:00 | ||||||||||||||||
Net sales | $ | 281.1 | $ | 275.9 | $ | 251.5 | $ | 215.4 | ||||||||
Gross profit | 76.6 | 79.6 | 62.1 | 52.8 | ||||||||||||
Operating income | 21.9 | 25.7 | 10.6 | 5.9 | ||||||||||||
Income (loss) from continuing operations | $ | 4.3 | $ | 5.9 | $ | (8.9 | ) | $ | (6.5 | ) | ||||||
Income (loss) from discontinued operations | (0.8 | ) | 3.9 | (100.9 | ) | (5.4 | ) | |||||||||
Net income (loss) | $ | 3.5 | $ | 9.8 | $ | (109.8 | ) | $ | (11.9 | ) | ||||||
Net loss per basic share(1): | ||||||||||||||||
Continuing operations | $ | 0.03 | $ | 0.04 | $ | (0.06 | ) | $ | (0.04 | ) | ||||||
Discontinued operations | (0.01 | ) | 0.02 | (0.64 | ) | (0.04 | ) | |||||||||
Net income (loss) | $ | 0.02 | $ | 0.06 | $ | (0.70 | ) | $ | (0.08 | ) | ||||||
Net income (loss) per diluted share(1): | ||||||||||||||||
Continuing operations | $ | 0.03 | $ | 0.04 | $ | (0.06 | ) | $ | (0.04 | ) | ||||||
Discontinued operations | (0.01 | ) | 0.02 | (0.64 | ) | (0.04 | ) | |||||||||
Net income (loss) | $ | 0.02 | $ | 0.06 | $ | (0.70 | ) | $ | (0.08 | ) | ||||||
(1) | The sum of the quarterly amounts may not equal the full year amount due to rounding. |
Consolidating_Guarantor_and_No1
Consolidating Guarantor and Non-Guarantor Financial Information (Tables) | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Consolidating Guarantor And Non-Guarantor Financial Information [Abstract] | ' | |||||||||||||||||||
Schedule Of Guarantor Companies | ' | |||||||||||||||||||
The following information is included as a result of the guarantee by certain of our wholly-owned U.S. subsidiaries (“Guarantor Companies”) of the Senior Unsecured Notes and the Senior Subordinated Notes. None of our other subsidiaries guarantee the Senior Unsecured Notes and the Senior Subordinated Notes. Each of the guarantees is joint and several and full and unconditional. Guarantor Companies are listed below. | ||||||||||||||||||||
Name | State of | |||||||||||||||||||
incorporation | ||||||||||||||||||||
or organization | ||||||||||||||||||||
Anvil International, LLC | Delaware | |||||||||||||||||||
Echologics, LLC | Delaware | |||||||||||||||||||
Henry Pratt Company, LLC | Delaware | |||||||||||||||||||
Henry Pratt International, LLC | Delaware | |||||||||||||||||||
Hydro Gate, LLC | Delaware | |||||||||||||||||||
J.B. Smith Mfg. Co., LLC | Delaware | |||||||||||||||||||
James Jones Company, LLC | Delaware | |||||||||||||||||||
Milliken Valve, LLC | Delaware | |||||||||||||||||||
Mueller Co. LLC | Delaware | |||||||||||||||||||
Mueller Group, LLC | Delaware | |||||||||||||||||||
Mueller Group Co-Issuer, Inc. | Delaware | |||||||||||||||||||
Mueller International, L.L.C. | Delaware | |||||||||||||||||||
Mueller Property Holdings, LLC | Delaware | |||||||||||||||||||
Mueller Co. International Holdings, LLC | Delaware | |||||||||||||||||||
Mueller Service California, Inc. | Delaware | |||||||||||||||||||
Mueller Service Co., LLC | Delaware | |||||||||||||||||||
Mueller Systems, LLC | Delaware | |||||||||||||||||||
OSP, LLC | Delaware | |||||||||||||||||||
U.S. Pipe Valve & Hydrant, LLC | Delaware | |||||||||||||||||||
Schedule Of Consolidating Balance Sheet | ' | |||||||||||||||||||
Mueller Water Products, Inc. and Subsidiaries | ||||||||||||||||||||
Consolidating Balance Sheet | ||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||
Issuer | Guarantor | Non- | Eliminations | Total | ||||||||||||||||
companies | guarantor | |||||||||||||||||||
companies | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 86.6 | $ | (2.3 | ) | $ | 39.3 | $ | — | $ | 123.6 | |||||||||
Receivables, net | 0.1 | 150.4 | 14 | — | 164.5 | |||||||||||||||
Inventories | — | 195.3 | 13.2 | — | 208.5 | |||||||||||||||
Deferred income taxes | 26.3 | — | 0.4 | — | 26.7 | |||||||||||||||
Other current assets | 18.2 | 25.7 | 2.2 | — | 46.1 | |||||||||||||||
Total current assets | 131.2 | 369.1 | 69.1 | — | 569.4 | |||||||||||||||
Intercompany accounts | 882.7 | — | — | (882.7 | ) | — | ||||||||||||||
Property, plant and equipment | 1.5 | 132 | 8.4 | — | 141.9 | |||||||||||||||
Identifiable intangible assets | — | 551.3 | 1.8 | — | 553.1 | |||||||||||||||
Other noncurrent assets | 16 | 0.2 | 1.3 | — | 17.5 | |||||||||||||||
Investment in subsidiaries | 155.2 | 39.2 | — | (194.4 | ) | — | ||||||||||||||
Total assets | $ | 1,186.60 | $ | 1,091.80 | $ | 80.6 | $ | (1,077.1 | ) | $ | 1,281.90 | |||||||||
Liabilities and stockholders' equity: | ||||||||||||||||||||
Current portion of long-term debt | $ | — | $ | 1.3 | $ | — | $ | — | $ | 1.3 | ||||||||||
Accounts payable | 4.6 | 90 | 6.6 | — | 101.2 | |||||||||||||||
Other current liabilities | 29.7 | 46.6 | 4.3 | — | 80.6 | |||||||||||||||
Total current liabilities | 34.3 | 137.9 | 10.9 | — | 183.1 | |||||||||||||||
Long-term debt | 598 | 1.5 | — | — | 599.5 | |||||||||||||||
Deferred income taxes | 140.9 | — | 0.6 | — | 141.5 | |||||||||||||||
Other noncurrent liabilities | 21.3 | 7.5 | 0.8 | — | 29.6 | |||||||||||||||
Intercompany accounts | 63.9 | 789.7 | 29.1 | (882.7 | ) | — | ||||||||||||||
Total liabilities | 858.4 | 936.6 | 41.4 | (882.7 | ) | 953.7 | ||||||||||||||
Stockholders' equity | 328.2 | 155.2 | 39.2 | (194.4 | ) | 328.2 | ||||||||||||||
Total liabilities and stockholders' equity | $ | 1,186.60 | $ | 1,091.80 | $ | 80.6 | $ | (1,077.1 | ) | $ | 1,281.90 | |||||||||
Mueller Water Products, Inc. and Subsidiaries | ||||||||||||||||||||
Consolidating Balance Sheet | ||||||||||||||||||||
30-Sep-12 | ||||||||||||||||||||
Issuer | Guarantor | Non- | Eliminations | Total | ||||||||||||||||
companies | guarantor | |||||||||||||||||||
companies | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 53.3 | $ | (3.7 | ) | $ | 33.4 | $ | — | $ | 83 | |||||||||
Receivables, net | — | 146.9 | 19.2 | — | 166.1 | |||||||||||||||
Inventories | — | 169.3 | 13.9 | — | 183.2 | |||||||||||||||
Deferred income taxes | 18.5 | — | 1.1 | — | 19.6 | |||||||||||||||
Other current assets | 10.5 | 26.3 | 1.2 | — | 38 | |||||||||||||||
Total current assets | 82.3 | 338.8 | 68.8 | — | 489.9 | |||||||||||||||
Intercompany accounts | 956.7 | — | — | (956.7 | ) | — | ||||||||||||||
Property, plant and equipment | 1.8 | 127.4 | 8.7 | — | 137.9 | |||||||||||||||
Identifiable intangible assets | — | 579 | 1.5 | — | 580.5 | |||||||||||||||
Other noncurrent assets | 30.5 | 0.7 | 1.4 | — | 32.6 | |||||||||||||||
Investment in subsidiaries | 27.2 | 37.9 | — | (65.1 | ) | — | ||||||||||||||
Total assets | $ | 1,098.50 | $ | 1,083.80 | $ | 80.4 | $ | (1,021.8 | ) | $ | 1,240.90 | |||||||||
Liabilities and stockholders' equity: | ||||||||||||||||||||
Current portion of long-term debt | $ | — | $ | 1.1 | $ | — | $ | — | $ | 1.1 | ||||||||||
Accounts payable | 8.3 | 68.7 | 7.5 | — | 84.5 | |||||||||||||||
Other current liabilities | 29.9 | 49 | 3.9 | — | 82.8 | |||||||||||||||
Total current liabilities | 38.2 | 118.8 | 11.4 | — | 168.4 | |||||||||||||||
Long-term debt | 619.9 | 1.8 | — | — | 621.7 | |||||||||||||||
Deferred income taxes | 132 | — | 0.8 | — | 132.8 | |||||||||||||||
Other noncurrent liabilities | 77.2 | 7.6 | 2 | — | 86.8 | |||||||||||||||
Intercompany accounts | — | 928.4 | 28.3 | (956.7 | ) | — | ||||||||||||||
Total liabilities | 867.3 | 1,056.60 | 42.5 | (956.7 | ) | 1,009.70 | ||||||||||||||
Stockholders' equity | 231.2 | 27.2 | 37.9 | (65.1 | ) | 231.2 | ||||||||||||||
Total liabilities and stockholders' equity | $ | 1,098.50 | $ | 1,083.80 | $ | 80.4 | $ | (1,021.8 | ) | $ | 1,240.90 | |||||||||
Schedule Of Consolidating Statement Of Operations | ' | |||||||||||||||||||
Mueller Water Products, Inc. and Subsidiaries | ||||||||||||||||||||
Consolidating Statement of Operations | ||||||||||||||||||||
Year Ended September 30, 2013 | ||||||||||||||||||||
Issuer | Guarantor | Non- | Eliminations | Total | ||||||||||||||||
companies | guarantor | |||||||||||||||||||
companies | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Net sales | $ | — | $ | 1,005.90 | $ | 114.9 | $ | — | $ | 1,120.80 | ||||||||||
Cost of sales | — | 708.6 | 99 | — | 807.6 | |||||||||||||||
Gross profit | — | 297.3 | 15.9 | — | 313.2 | |||||||||||||||
Operating expenses: | ||||||||||||||||||||
Selling, general and administrative | 34 | 168.2 | 12.2 | — | 214.4 | |||||||||||||||
Restructuring | — | 1.4 | 0.1 | — | 1.5 | |||||||||||||||
Total operating expenses | 34 | 169.6 | 12.3 | — | 215.9 | |||||||||||||||
Operating income (loss) | (34.0 | ) | 127.7 | 3.6 | — | 97.3 | ||||||||||||||
Interest expense, net | 51.6 | 0.3 | (0.2 | ) | — | 51.7 | ||||||||||||||
Loss on early extinguishment of debt | 1.4 | — | — | — | 1.4 | |||||||||||||||
Income (loss) before income taxes | (87.0 | ) | 127.4 | 3.8 | — | 44.2 | ||||||||||||||
Income tax expense (benefit) | (17.3 | ) | 25.5 | 0.6 | — | 8.8 | ||||||||||||||
Equity in income of subsidiaries | 105.1 | 3.2 | — | (108.3 | ) | — | ||||||||||||||
Income from continuing operations | 35.4 | 105.1 | 3.2 | (108.3 | ) | 35.4 | ||||||||||||||
Income from discontinued operations, net of tax | 5.4 | — | — | — | 5.4 | |||||||||||||||
Net income | $ | 40.8 | $ | 105.1 | $ | 3.2 | $ | (108.3 | ) | $ | 40.8 | |||||||||
Mueller Water Products, Inc. and Subsidiaries | ||||||||||||||||||||
Consolidating Statement of Operations | ||||||||||||||||||||
Year Ended September 30, 2012 | ||||||||||||||||||||
Issuer | Guarantor | Non- | Eliminations | Total | ||||||||||||||||
companies | guarantor | |||||||||||||||||||
companies | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Net sales | $ | — | $ | 907 | $ | 116.9 | $ | — | $ | 1,023.90 | ||||||||||
Cost of sales | — | 652.1 | 100.7 | — | 752.8 | |||||||||||||||
Gross profit | — | 254.9 | 16.2 | — | 271.1 | |||||||||||||||
Operating expenses: | ||||||||||||||||||||
Selling, general and administrative | 30.6 | 160.2 | 13.4 | — | 204.2 | |||||||||||||||
Restructuring | — | 2.7 | 0.1 | — | 2.8 | |||||||||||||||
Total operating expenses | 30.6 | 162.9 | 13.5 | — | 207 | |||||||||||||||
Operating income (loss) | (30.6 | ) | 92 | 2.7 | — | 64.1 | ||||||||||||||
Interest expense (income), net | 60 | 0.2 | (0.3 | ) | — | 59.9 | ||||||||||||||
Loss on early extinguishment of debt | 1.5 | — | — | — | 1.5 | |||||||||||||||
Income (loss) before income taxes | (92.1 | ) | 91.8 | 3 | — | 2.7 | ||||||||||||||
Income tax expense (benefit) | (28.3 | ) | 35.6 | 0.6 | — | 7.9 | ||||||||||||||
Equity in income of subsidiaries | 58.6 | 2.4 | — | (61.0 | ) | — | ||||||||||||||
Income (loss) from continuing operations | (5.2 | ) | 58.6 | 2.4 | (61.0 | ) | (5.2 | ) | ||||||||||||
Loss from discontinued operations, net of tax | (103.2 | ) | — | — | — | (103.2 | ) | |||||||||||||
Net income (loss) | $ | (108.4 | ) | $ | 58.6 | $ | 2.4 | $ | (61.0 | ) | $ | (108.4 | ) | |||||||
Mueller Water Products, Inc. and Subsidiaries | ||||||||||||||||||||
Consolidating Statement of Operations | ||||||||||||||||||||
Year Ended September 30, 2011 | ||||||||||||||||||||
Issuer | Guarantor | Non- | Eliminations | Total | ||||||||||||||||
companies | guarantor | |||||||||||||||||||
companies | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Net sales | $ | — | $ | 844.9 | $ | 119.7 | $ | — | $ | 964.6 | ||||||||||
Cost of sales | (0.1 | ) | 613.8 | 102.8 | — | 716.5 | ||||||||||||||
Gross profit | 0.1 | 231.1 | 16.9 | — | 248.1 | |||||||||||||||
Operating expenses: | ||||||||||||||||||||
Selling, general and administrative | 31.1 | 147 | 13.7 | — | 191.8 | |||||||||||||||
Restructuring | 1 | 2.2 | 0.4 | — | 3.6 | |||||||||||||||
Total operating expenses | 32.1 | 149.2 | 14.1 | — | 195.4 | |||||||||||||||
Operating income | (32.0 | ) | 81.9 | 2.8 | — | 52.7 | ||||||||||||||
Interest expense, net | 65.6 | — | — | — | 65.6 | |||||||||||||||
Income (loss) before income taxes | (97.6 | ) | 81.9 | 2.8 | — | (12.9 | ) | |||||||||||||
Income tax expense (benefit) | (34.4 | ) | 30.6 | 0.9 | — | (2.9 | ) | |||||||||||||
Equity in income of subsidiaries | 53.2 | 1.9 | — | (55.1 | ) | — | ||||||||||||||
Income (loss) from continuing operations | (10.0 | ) | 53.2 | 1.9 | (55.1 | ) | (10.0 | ) | ||||||||||||
Loss from discontinued operations, net of tax | (28.1 | ) | — | — | — | (28.1 | ) | |||||||||||||
Net income (loss) | $ | (38.1 | ) | $ | 53.2 | $ | 1.9 | $ | (55.1 | ) | $ | (38.1 | ) | |||||||
Schedule Of Consolidating Statement Of Other Comprehensive Income [Table Text Block] | ' | |||||||||||||||||||
Mueller Water Products, Inc. and Subsidiaries | ||||||||||||||||||||
Consolidating Statement of Comprehensive Income | ||||||||||||||||||||
Year Ended September 30, 2013 | ||||||||||||||||||||
Issuer | Guarantor | Non- | Eliminations | Total | ||||||||||||||||
companies | guarantor | |||||||||||||||||||
companies | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Net income | $ | 40.8 | $ | 105.1 | $ | 3.2 | $ | (108.3 | ) | $ | 40.8 | |||||||||
Other comprehensive income (loss): | ||||||||||||||||||||
Minimum pension liability, net of tax | 61.5 | — | — | — | 61.5 | |||||||||||||||
Equity in other comprehensive loss of subsidiaries | (2.4 | ) | (2.4 | ) | — | 4.8 | — | |||||||||||||
Foreign currency translation | — | — | (2.4 | ) | — | (2.4 | ) | |||||||||||||
59.1 | (2.4 | ) | (2.4 | ) | 4.8 | 59.1 | ||||||||||||||
Comprehensive income | $ | 99.9 | $ | 102.7 | $ | 0.8 | $ | (103.5 | ) | $ | 99.9 | |||||||||
Mueller Water Products, Inc. and Subsidiaries | ||||||||||||||||||||
Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||||||
Year Ended September 30, 2012 | ||||||||||||||||||||
Issuer | Guarantor | Non- | Eliminations | Total | ||||||||||||||||
companies | guarantor | |||||||||||||||||||
companies | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Net income (loss) | $ | (108.4 | ) | $ | 58.6 | $ | 2.4 | $ | (61.0 | ) | $ | (108.4 | ) | |||||||
Other comprehensive income (loss): | ||||||||||||||||||||
Minimum pension liability, net of tax | (39.4 | ) | — | — | — | (39.4 | ) | |||||||||||||
Interest rate swap contracts, net of tax | 3 | — | — | — | 3 | |||||||||||||||
Equity in other comprehensive income of subsidiaries | 2.9 | 2.9 | — | (5.8 | ) | — | ||||||||||||||
Foreign currency translation | — | — | 2.9 | — | 2.9 | |||||||||||||||
(33.5 | ) | 2.9 | 2.9 | (5.8 | ) | (33.5 | ) | |||||||||||||
Comprehensive income (loss) | $ | (141.9 | ) | $ | 61.5 | $ | 5.3 | $ | (66.8 | ) | $ | (141.9 | ) | |||||||
Mueller Water Products, Inc. and Subsidiaries | ||||||||||||||||||||
Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||||||
Year Ended September 30, 2011 | ||||||||||||||||||||
Issuer | Guarantor | Non- | Eliminations | Total | ||||||||||||||||
companies | guarantor | |||||||||||||||||||
companies | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Net income (loss) | $ | (38.1 | ) | $ | 53.2 | $ | 1.9 | $ | (55.1 | ) | $ | (38.1 | ) | |||||||
Other comprehensive income (loss): | ||||||||||||||||||||
Minimum pension liability, net of tax | 12.2 | — | — | — | 12.2 | |||||||||||||||
Interest rate swap contracts, net of tax | 4.9 | — | — | — | 4.9 | |||||||||||||||
Equity in other comprehensive loss of subsidiaries | (1.1 | ) | (1.1 | ) | — | 2.2 | — | |||||||||||||
Foreign currency translation | — | — | (1.1 | ) | — | (1.1 | ) | |||||||||||||
16 | (1.1 | ) | (1.1 | ) | 2.2 | 16 | ||||||||||||||
Comprehensive income (loss) | $ | (22.1 | ) | $ | 52.1 | $ | 0.8 | $ | (52.9 | ) | $ | (22.1 | ) | |||||||
Schedule Of Consolidating Statement Of Cash Flow | ' | |||||||||||||||||||
Mueller Water Products, Inc. and Subsidiaries | ||||||||||||||||||||
Consolidating Statement of Cash Flows | ||||||||||||||||||||
Year Ended September 30, 2013 | ||||||||||||||||||||
Issuer | Guarantor | Non- | Eliminations | Total | ||||||||||||||||
companies | guarantor | |||||||||||||||||||
companies | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Operating activities: | ||||||||||||||||||||
Net cash provided by operating activities from continuing operations | $ | 67.2 | $ | 37.9 | $ | 9 | $ | — | $ | 114.1 | ||||||||||
Investing activities: | ||||||||||||||||||||
Capital expenditures | (0.2 | ) | (33.5 | ) | (1.9 | ) | — | (35.6 | ) | |||||||||||
Acquisitions, net of cash acquired | — | (1.1 | ) | — | — | (1.1 | ) | |||||||||||||
Proceeds from sales of assets | — | 0.5 | — | — | 0.5 | |||||||||||||||
Net cash used in investing activities from continuing operations | (0.2 | ) | (34.1 | ) | (1.9 | ) | — | (36.2 | ) | |||||||||||
Financing activities: | ||||||||||||||||||||
Early repayment of debt | (23.2 | ) | — | — | — | (23.2 | ) | |||||||||||||
Dividends paid | (11.0 | ) | — | — | — | (11.0 | ) | |||||||||||||
Common stock issued | 3.1 | — | — | — | 3.1 | |||||||||||||||
Shares retained for employee taxes | (1.5 | ) | — | — | — | (1.5 | ) | |||||||||||||
Payment of deferred financing fees | (0.7 | ) | — | — | — | (0.7 | ) | |||||||||||||
Other | — | (2.4 | ) | — | — | (2.4 | ) | |||||||||||||
Net cash used in financing activities from continuing operations | (33.3 | ) | (2.4 | ) | — | — | (35.7 | ) | ||||||||||||
Net cash flows from discontinued operations: | ||||||||||||||||||||
Operating activities | (4.9 | ) | — | — | — | (4.9 | ) | |||||||||||||
Investing activities | 4.5 | — | — | — | 4.5 | |||||||||||||||
Net cash provided by discontinued operations | (0.4 | ) | — | — | — | (0.4 | ) | |||||||||||||
Effect of currency exchange rate changes on cash | — | — | (1.2 | ) | — | (1.2 | ) | |||||||||||||
Net change in cash and cash equivalents | 33.3 | 1.4 | 5.9 | — | 40.6 | |||||||||||||||
Cash and cash equivalents at beginning of year | 53.3 | (3.7 | ) | 33.4 | — | 83 | ||||||||||||||
Cash and cash equivalents at end of year | $ | 86.6 | $ | (2.3 | ) | $ | 39.3 | $ | — | $ | 123.6 | |||||||||
Mueller Water Products, Inc. and Subsidiaries | ||||||||||||||||||||
Consolidating Statement of Cash Flows | ||||||||||||||||||||
Year Ended September 30, 2012 | ||||||||||||||||||||
Issuer | Guarantor | Non- | Eliminations | Total | ||||||||||||||||
companies | guarantor | |||||||||||||||||||
companies | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Operating activities: | ||||||||||||||||||||
Net cash provided by operating activities from continuing operations | $ | 40.9 | $ | 32.2 | $ | 3.7 | $ | — | $ | 76.8 | ||||||||||
Investing activities: | ||||||||||||||||||||
Capital expenditures | — | (30.5 | ) | (0.9 | ) | — | (31.4 | ) | ||||||||||||
Acquisitions, net of cash acquired | — | (1.8 | ) | 0.5 | — | (1.3 | ) | |||||||||||||
Proceeds from sales of assets | — | 0.3 | — | — | 0.3 | |||||||||||||||
Net cash used in investing activities from continuing operations | — | (32.0 | ) | (0.4 | ) | — | (32.4 | ) | ||||||||||||
Financing activities: | ||||||||||||||||||||
Debt paid | (34.0 | ) | — | — | — | (34.0 | ) | |||||||||||||
Early repayment of debt | (23.2 | ) | — | — | — | (23.2 | ) | |||||||||||||
Dividends paid | (11.0 | ) | — | — | — | (11.0 | ) | |||||||||||||
Common stock issued | 0.7 | — | — | — | 0.7 | |||||||||||||||
Shares retained for employee taxes | (0.5 | ) | — | — | — | (0.5 | ) | |||||||||||||
Other | — | (0.1 | ) | — | — | (0.1 | ) | |||||||||||||
Net cash used in financing activities from continuing operations | (68.0 | ) | (0.1 | ) | — | — | (68.1 | ) | ||||||||||||
Net cash flows from discontinued operations: | ||||||||||||||||||||
Operating activities | (43.3 | ) | — | — | — | (43.3 | ) | |||||||||||||
Investing activities | 87.5 | — | — | — | 87.5 | |||||||||||||||
Net cash provided by discontinued operations | 44.2 | — | — | — | 44.2 | |||||||||||||||
Effect of currency exchange rate changes on cash | — | — | 1.5 | — | 1.5 | |||||||||||||||
Net change in cash and cash equivalents | 17.1 | 0.1 | 4.8 | — | 22 | |||||||||||||||
Cash and cash equivalents at beginning of year | 36.2 | (3.8 | ) | 28.6 | — | 61 | ||||||||||||||
Cash and cash equivalents at end of year | $ | 53.3 | $ | (3.7 | ) | $ | 33.4 | $ | — | $ | 83 | |||||||||
Mueller Water Products, Inc. and Subsidiaries | ||||||||||||||||||||
Consolidating Statement of Cash Flows | ||||||||||||||||||||
Year Ended September 30, 2011 | ||||||||||||||||||||
Issuer | Guarantor | Non- | Eliminations | Total | ||||||||||||||||
companies | guarantor | |||||||||||||||||||
companies | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Operating activities: | ||||||||||||||||||||
Net cash provided by operating activities from continuing operations | $ | 31.6 | $ | 17.9 | $ | 2.6 | $ | — | $ | 52.1 | ||||||||||
Investing activities: | ||||||||||||||||||||
Capital expenditures | (0.8 | ) | (21.8 | ) | (0.5 | ) | — | (23.1 | ) | |||||||||||
Acquisitions, net of cash acquired | — | (1.3 | ) | (7.9 | ) | — | (9.2 | ) | ||||||||||||
Proceeds from sales of assets | — | 1.1 | — | — | 1.1 | |||||||||||||||
Net cash used in investing activities from continuing operations | (0.8 | ) | (22.0 | ) | (8.4 | ) | — | (31.2 | ) | |||||||||||
Financing activities: | ||||||||||||||||||||
Debt paid | (15.0 | ) | — | — | — | (15.0 | ) | |||||||||||||
Common stock | 1.3 | — | — | — | 1.3 | |||||||||||||||
Shares retained for employee taxes | (0.3 | ) | — | — | — | (0.3 | ) | |||||||||||||
Dividends paid | (10.9 | ) | — | — | — | (10.9 | ) | |||||||||||||
Payment of deferred financing fees | (0.4 | ) | — | — | — | (0.4 | ) | |||||||||||||
Other | — | 2.4 | — | — | 2.4 | |||||||||||||||
Net cash provided by (used in) financing activities from continuing operations | (25.3 | ) | 2.4 | — | — | (22.9 | ) | |||||||||||||
Net cash flows from discontinued operations: | ||||||||||||||||||||
Operating activities | (12.2 | ) | — | — | — | (12.2 | ) | |||||||||||||
Investing activities | (8.4 | ) | — | — | — | (8.4 | ) | |||||||||||||
Net cash used in discontinued operations | (20.6 | ) | — | — | — | (20.6 | ) | |||||||||||||
Effect of currency exchange rate changes on cash | — | — | (0.4 | ) | — | (0.4 | ) | |||||||||||||
Net change in cash and cash equivalents | (15.1 | ) | (1.7 | ) | (6.2 | ) | — | (23.0 | ) | |||||||||||
Cash and cash equivalents at beginning of year | 51.3 | (2.1 | ) | 34.8 | — | 84 | ||||||||||||||
Cash and cash equivalents at end of year | $ | 36.2 | $ | (3.8 | ) | $ | 28.6 | $ | — | $ | 61 | |||||||||
Organization_Details
Organization (Details) | 12 Months Ended |
Sep. 30, 2013 | |
business_segments | |
Segment Reporting Information [Line Items] | ' |
Number of Reportable Segments | 2 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Schedule of Allowance for Doubtful Receivables) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Allowance for Doubtful Accounts Receivable [Roll Forward] | ' | ' | ' |
Balance at beginning of year | $5.70 | $4.80 | $5.30 |
Provision charged (credited) to expense | 0.4 | 0.6 | -0.1 |
Balances written off, net of recoveries | -0.8 | -0.1 | -0.3 |
Reclassifications | 0 | 0.4 | 0 |
Other | 0 | 0 | -0.1 |
Balance at end of year | $5.30 | $5.70 | $4.80 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Schedule of Reserves for Excess and Obsolete Inventory) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | ' |
Balance at beginning of year | $12.50 | $12.70 | $13.40 | $10.60 |
Provision charged to expense | -2.4 | -1.8 | -1.2 | ' |
Inventory disposed | -4.6 | -2.2 | -1.6 | ' |
Other | ($0.30) | ($0.20) | $0.30 | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Schedule of Product Warranty Liability) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Movement in Standard Product Warranty Accrual [Roll Forward] | ' | ' | ' |
Balance at beginning of year | $1.60 | $2 | $1.50 |
Warranty expense | 4.2 | 1.4 | 1.6 |
Warranty payments | 3 | 1.8 | 1.1 |
Balance at end of year | $2.80 | $1.60 | $2 |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Outstanding Checks | $2.30 | $4.60 |
Asset Retirement Obligation | 3.6 | 3.5 |
Exposure to Workers Compensation Claims, Per Incident | 1 | ' |
Workers Compensation Undiscounted Basis Liability | 20 | 22.6 |
Workers' Compensation Liability | 17.2 | 20 |
Income Tax Benefit, Likelihood of Realization Threshold | 50.00% | ' |
Deferred Finance Costs, Net | 8.9 | ' |
Minimum [Member] | ' | ' |
Finite-Lived Tangible Asset, Useful Life, Maximum | '3 years | ' |
Debt Instrument, Term | '5 years | ' |
Maximum [Member] | ' | ' |
Finite-Lived Tangible Asset, Useful Life, Maximum | '10 years | ' |
Debt Instrument, Term | '10 years | ' |
Land Improvements [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment, Useful Life, Minimum | '10 years | ' |
Land Improvements [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment, Useful Life, Minimum | '20 years | ' |
Building [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment, Useful Life, Minimum | '10 years | ' |
Building [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment, Useful Life, Minimum | '40 years | ' |
Machinery and Equipment [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment, Useful Life, Minimum | '3 years | ' |
Machinery and Equipment [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment, Useful Life, Minimum | '15 years | ' |
Software and Software Development Costs [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment, Useful Life, Minimum | '3 years | ' |
Software and Software Development Costs [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment, Useful Life, Minimum | '5 years | ' |
U.S. Pipe [Member] | Maximum [Member] | ' | ' |
Discontinued Operations, Receivable from Buyer of Discontinued Operation | 8.3 | 11.8 |
Other Current Assets [Member] | U.S. Pipe [Member] | ' | ' |
Discontinued Operations, Receivable from Buyer of Discontinued Operation | 1.8 | ' |
Other Noncurrent Assets [Member] | U.S. Pipe [Member] | ' | ' |
Discontinued Operations, Receivable from Buyer of Discontinued Operation | 5.3 | ' |
ABL Agreement [Member] | ' | ' |
Deferred Finance Costs, Net | 2.9 | ' |
Seven Point Three Seven Five Senior Subordinated Notes [Member] | ' | ' |
Deferred Finance Costs, Net | 3.2 | ' |
Eight Point Seven Five Senior Unsecured Notes [Member] | ' | ' |
Deferred Finance Costs, Net | $2.80 | ' |
Identifiable_Intangible_Assets2
Identifiable Intangible Assets (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Indefinite-lived intangible assets: | ' | ' | ' | ' |
Intangible Assets, Gross (Excluding Goodwill) | ' | $778.20 | $777.20 | ' |
Accumulated amortization: | ' | ' | ' | ' |
Accumulated amortization | ' | -233 | -203.5 | ' |
Net book value | ' | 553.1 | 580.5 | ' |
Intangible Assets | ' | ' | ' | ' |
Amortization | ' | 31.8 | 30.9 | 29.7 |
Trademarks and Trade Names [Member] | ' | ' | ' | ' |
Indefinite-lived intangible assets: | ' | ' | ' | ' |
Trade names and trademarks | ' | 300 | 299.7 | ' |
Software and Software Development Costs [Member] | ' | ' | ' | ' |
Capitalized external-use software: | ' | ' | ' | ' |
Software cost | ' | 12.2 | 8.8 | ' |
Software accumulated amortization | ' | -4.3 | -2 | ' |
Software net book value | ' | 7.9 | 6.8 | ' |
Intangible Assets | ' | ' | ' | ' |
Remaining weighted-average amortization period for the finite-lived intangible assets | ' | '3 years | ' | ' |
Capitalized software, weighted average remaining useful life | ' | '1 year 11 months | ' | ' |
Amortization | 2.3 | ' | 1.5 | 0.5 |
Future Amortization Expense, 2014 | ' | 2.7 | ' | ' |
Future Amortization Expense, 2015 | ' | 2.6 | ' | ' |
Future Amortization Expense, 2016 | ' | 1.9 | ' | ' |
Future Amortization Expense, 2017 | ' | 0.7 | ' | ' |
Future Amortization Expense, 2018 | ' | 0 | ' | ' |
Technology-Based Intangible Assets [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Net [Abstract] | ' | ' | ' | ' |
Technology intangible assets | ' | 80.1 | 79.3 | ' |
Accumulated amortization: | ' | ' | ' | ' |
Accumulated amortization | ' | 61.5 | 53.5 | ' |
Customer Relationships [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Net [Abstract] | ' | ' | ' | ' |
Customer relationships and other | ' | 398.1 | 398.2 | ' |
Accumulated amortization: | ' | ' | ' | ' |
Accumulated amortization | ' | 171.5 | 150 | ' |
Business Combination-Related Identifiable Intangible [Member] | ' | ' | ' | ' |
Accumulated amortization: | ' | ' | ' | ' |
Net book value | ' | 545.2 | 573.7 | ' |
Intangible Assets | ' | ' | ' | ' |
Remaining weighted-average amortization period for the finite-lived intangible assets | ' | '10 years 1 month 7 days | ' | ' |
Amortization | 29.5 | ' | 29.4 | 29.2 |
Future Amortization Expense, 2014 | ' | 28.3 | ' | ' |
Future Amortization Expense, 2015 | ' | 27.3 | ' | ' |
Future Amortization Expense, 2016 | ' | 22 | ' | ' |
Future Amortization Expense, 2017 | ' | 22.1 | ' | ' |
Future Amortization Expense, 2018 | ' | $22 | ' | ' |
Discontinued_Operations_Assets2
Discontinued Operations, Assets Held for Sale and Divestitures (Narrative) (Details) (U.S. Pipe [Member], USD $) | 0 Months Ended | 6 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Apr. 02, 2012 | Mar. 31, 2013 | Sep. 30, 2013 |
U.S. Pipe [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Discontinued Operations, Sales Price, Noncash | ' | $10.10 | ' |
Proceeds from Divestiture of Businesses | $94 | ' | $4.50 |
Discontinued_Operations_Assets3
Discontinued Operations, Assets Held for Sale and Divestitures (Schedule Of Book Values Of Assets Sold And Fair Value Of Assets Acquired) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $197 | $374.60 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 197.9 | 388.6 |
Gross loss | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -0.9 | -14 |
Operating expenses (income) | ' | ' | ' | ' | ' | ' | ' | ' | -0.5 | 4.2 | 32 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | -5.1 | -46 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0.3 | 0 |
Loss (gain) on sale of discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | 4.9 | -119.7 | 0 |
Discontinued Operation, Tax Effect of Discontinued Operation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -21.9 | -17.9 |
Income (loss) from discontinued operations, net of tax | ($3.30) | ($1.90) | ($1.40) | $12 | ($0.80) | $3.90 | ($100.90) | ($5.40) | $5.40 | ($103.20) | ($28.10) |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Tax Expense (Benefit) | $8.80 | $7.90 | ($2.90) |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 0.8 | ' | ' |
Undistributed foreign earnings | 56.4 | ' | ' |
Accrued interest related to uncertain tax positions | 0.9 | 0.9 | ' |
Income Tax Examination, Penalties and Interest Expense | $0 | ' | ' |
Minimum [Member] | State and Local Jurisdiction [Member] | ' | ' | ' |
Operating Loss Carryforwards, Expiration Date | 31-Dec-20 | ' | ' |
Minimum [Member] | Internal Revenue Service (IRS) [Member] | ' | ' | ' |
Operating Loss Carryforwards, Expiration Date | 31-Dec-31 | ' | ' |
Maximum [Member] | State and Local Jurisdiction [Member] | ' | ' | ' |
Operating Loss Carryforwards, Expiration Date | 31-Dec-32 | ' | ' |
Maximum [Member] | Internal Revenue Service (IRS) [Member] | ' | ' | ' |
Operating Loss Carryforwards, Expiration Date | 31-Dec-32 | ' | ' |
Income_Taxes_Income_before_Inc
Income Taxes (Income before Income Tax, Domestic and Foreign) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Loss before income taxes, U.S. | $41 | ($0.10) | ($15.20) |
Loss before income taxes, Non-U.S. | 3.2 | 2.8 | 2.3 |
Income (loss) before income taxes | $44.20 | $2.70 | ($12.90) |
Income_Taxes_Components_of_Inc
Income Taxes (Components of Income Tax Expense (Benefit) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Current and Deferred Income Tax Expense (Benefit) [Line Items] | ' | ' | ' |
Current Federal Tax Expense (Benefit) | $0.60 | $0.20 | $3.80 |
Current State and Local Tax Expense (Benefit) | 0.1 | -1 | -0.6 |
Current Foreign Tax Expense (Benefit) | 0.8 | 1.1 | -0.2 |
Current Income Tax Expense (Benefit) | 1.5 | 0.3 | 3 |
Deferred Federal Income Tax Expense (Benefit) | 6.2 | -0.6 | -5.7 |
Deferred State and Local Income Tax Expense (Benefit) | 1.3 | 9 | -0.2 |
Deferred Foreign Income Tax Expense (Benefit) | -0.2 | -0.8 | 0 |
Deferred Income Tax Expense (Benefit) | 7.3 | 7.6 | -5.9 |
Income Tax Expense (Benefit) | $8.80 | $7.90 | ($2.90) |
Income_Taxes_Disposal_Groups_i
Income Taxes (Disposal Groups, including Discontinued Operations) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Income Tax Expense (Benefit) | $8.80 | $7.90 | ($2.90) |
Discontinued Operation, Tax Effect of Discontinued Operation | 0 | -21.9 | -17.9 |
Operating Expense [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Income Tax Expense (Benefit) | 17.5 | 1.4 | -3.4 |
Discontinued Operation, Tax Effect of Discontinued Operation | 2.1 | -48.7 | -17.9 |
Valuation Allowance of Deferred Tax Assets [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Discontinued Operation, Tax Effect of Discontinued Operation | -2.1 | 26.7 | ' |
Valuation Allowance Related To Limitation On Deductibility Of Executive Compensation [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Income Tax Expense (Benefit) | ' | ' | 0.5 |
Discontinued Operation, Tax Effect of Discontinued Operation | ' | ' | 0 |
Other Expense [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Income Tax Expense (Benefit) | -0.2 | 0 | ' |
Discontinued Operation, Tax Effect of Discontinued Operation | $0 | $0.10 | ' |
Income_Taxes_Reconciliation_of
Income Taxes (Reconciliation of Statutory Taxes to Effective Taxes) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Tax at U.S. federal statutory income tax rate of 35% | $15.50 | $0.90 | ($4.50) |
Adjustments to reconcile to income tax expense (benefit): | ' | ' | ' |
Federal Valuation Allowance | -7.8 | 0 | 0 |
State income taxes, net of federal benefit | 2 | -0.8 | -0.5 |
State valuation allowance, net of federal benefit | -1.1 | 5.9 | 0 |
Tax Credits | -0.6 | -0.1 | -0.3 |
Other nondeductible expenses | 0.5 | 0.7 | 0.5 |
Foreign income taxes | 0.4 | -0.3 | 0.2 |
Nondeductible compensation | 0.2 | 1.4 | 1.3 |
Other | -0.3 | 0.2 | 0.4 |
Income tax expense (benefit) | $8.80 | $7.90 | ($2.90) |
Income_Taxes_Deferred_Tax_Asse
Income Taxes (Deferred Tax Assets and Liabilities) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Millions, unless otherwise specified | |||
Deferred income tax assets: | ' | ' | ' |
Inventory reserves | $17.20 | $13.50 | ' |
Accrued expenses | 17.2 | 19.4 | ' |
Pension and other postretirement benefits | 2.4 | 24.7 | ' |
Stock-based compensation | 9.1 | 7 | ' |
State net operating losses | 13.4 | 16.9 | ' |
Federal net operating losses and credit carryovers | 37.4 | 65.1 | ' |
All other | 1.6 | 1.7 | ' |
Deferred income tax assets | 98.3 | 148.3 | ' |
Valuation allowance | -10.3 | -49.2 | -1.3 |
Total deferred income tax assets | 88 | 99.1 | ' |
Deferred income tax liabilities: | ' | ' | ' |
Identifiable intangible assets | -199.8 | -206.9 | ' |
Other | -3 | -5.4 | ' |
Total deferred income tax liabilities | 202.8 | 212.3 | ' |
Deferred Tax Liabilities, Net | $114.80 | $113.20 | ' |
Income_Taxes_Summary_of_Valuat
Income Taxes (Summary of Valuation Allowance) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | Continuing Operations [Member] | Continuing Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Other Assets [Member] | Other Assets [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at beginning of year | $10.30 | $49.20 | $1.30 | ' | ' | ' | ' | ' | ' | ' | ' |
Valuation Allowance, Deferred Tax Asset, Change in Amount | ' | ' | ' | -8.5 | 6.5 | -2.1 | 26.7 | -27.8 | 15.2 | -0.5 | -0.5 |
Balance at end of year | $10.30 | $49.20 | $1.30 | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Gross_Unrecognize
Income Taxes (Gross Unrecognized Tax Benefit) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Unrecognized Tax Benefits [Roll Forward] | ' | ' |
Balance at beginning of year | $4.30 | $7.80 |
Increases related to prior year positions | 0.5 | 0.6 |
Decreases related to prior year positions | 0 | 0.2 |
Decreases due to lapse in statute of limitations | 1.1 | 2.5 |
Payments and settlements | 0 | 1.4 |
Balance at end of year | $3.70 | $4.30 |
Income_Taxes_Income_Taxes_Pare
Income Taxes Income Taxes (Parenthetical) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Income Tax Disclosure [Abstract] | ' |
Income Tax Examination, Penalties and Interest Expense | $0 |
Borrowing_Arrangements_Narrati
Borrowing Arrangements (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Line of Credit Facility, Interest Rate at Period End | 17500.00% | ' | ' |
Agreement termination date | 18-Dec-17 | ' | ' |
Extinguishment of Debt, Amount | $22.50 | ' | ' |
Debt Instrument, Redemption Price, Percentage | 103.00% | ' | ' |
Loss on early extinguishment of debt | 1.4 | 1.5 | 0 |
Debt Instrument, Redemption Period, Start Date | 31-Aug-15 | ' | ' |
Future maturities of outstanding borrowings | ' | ' | ' |
CY plus 1 | 1.3 | ' | ' |
CY plus 2 | 1 | ' | ' |
CY plus 3 | 0.5 | ' | ' |
CY plus 4 | 420 | ' | ' |
CY plus 5 | 0 | ' | ' |
CY plus 6 and more | 180 | ' | ' |
Swing Line Loans [Member] | ' | ' | ' |
Revolving credit facility amount | 25 | ' | ' |
Letters Of Credit Outstanding [Member] | ' | ' | ' |
Revolving credit facility amount | 60 | ' | ' |
Eight Point Seven Five Senior Unsecured Notes [Member] | ' | ' | ' |
Senior subordinated notes bear interest | 8.75% | ' | ' |
Debt Instrument, Maturity Date | 1-Sep-20 | ' | ' |
Unamortized discount | 2 | ' | ' |
Subordinated notes fair value | 197.1 | ' | ' |
Seven Point Three Seven Five Senior Subordinated Notes [Member] | ' | ' | ' |
Senior subordinated notes bear interest | 7.38% | ' | ' |
Debt Instrument, Maturity Date | 1-Jun-17 | ' | ' |
Subordinated notes fair value | 429.5 | ' | ' |
ABL Agreement [Member] | ' | ' | ' |
Revolving credit facility amount | 225 | ' | ' |
Potential increase size of the credit facility by an additional amount | 150 | ' | ' |
Aggregate commitments availability | 22.5 | ' | ' |
Aggregate commitments availability, percentage | 10.00% | ' | ' |
Outstanding letter of credit accrued fees and expenses | 32.9 | ' | ' |
Excess availability reduced by outstanding borrowings, outstanding letters of credit and accrued fees and expenses | $159.40 | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 3750.00% | ' | ' |
Minimum [Member] | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 2500.00% | ' | ' |
Maximum [Member] | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 3750.00% | ' | ' |
Change in Control [Member] | Eight Point Seven Five Senior Unsecured Notes [Member] | ' | ' | ' |
Debt Instrument, Redemption Price, Percentage | 101.00% | ' | ' |
Change in Control [Member] | Seven Point Three Seven Five Senior Subordinated Notes [Member] | ' | ' | ' |
Debt Instrument, Redemption Price, Percentage | 101.00% | ' | ' |
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ' | ' | ' |
Borrowing rate in addition to LIBOR | 17500.00% | ' | ' |
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ' | ' | ' |
Borrowing rate in addition to LIBOR | 22500.00% | ' | ' |
Base Rate [Member] | Minimum [Member] | ' | ' | ' |
Borrowing rate in addition to LIBOR | 7500.00% | ' | ' |
Base Rate [Member] | Maximum [Member] | ' | ' | ' |
Borrowing rate in addition to LIBOR | 12500.00% | ' | ' |
Borrowing_Arrangements_Compone
Borrowing Arrangements (Components Of Long-Term Debt) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Debt instrument | $600.80 | $622.80 |
Current portion of long-term debt | 1.3 | 1.1 |
Long-term debt | 599.5 | 621.7 |
ABL Agreement [Member] | ' | ' |
Debt instrument | 0 | 0 |
8.75% Senior Unsecured Notes [Member] | ' | ' |
Debt instrument | 178 | 199.9 |
7.375% Senior Subordinated Notes [Member] | ' | ' |
Debt instrument | 420 | 420 |
Other [Member] | ' | ' |
Debt instrument | $2.80 | $2.90 |
Retirement_Plans_Narrative_Det
Retirement Plans (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Apr. 02, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 |
Minimum [Member] | Maximum [Member] | Pension Plan, Defined Benefit [Member] | Pension Plan, Defined Benefit [Member] | Pension Plan, Defined Benefit [Member] | Pension Plan, Defined Benefit [Member] | Other Plans [Member] | Other Plans [Member] | Other Plans [Member] | Other Plans [Member] | Equity Securities [Member] | Fixed Income Funds [Member] | Scenario, Forecast [Member] | ||||
Percentage of Obligations Related to U.S. Plan | 97.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pension Contributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.80 |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | ' | ' | ' | ' | ' | 5.16% | 5.16% | 4.21% | 5.66% | ' | 4.22% | 5.69% | 5.00% | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | 60.00% | ' |
Curtailment gain (loss) | ' | ' | ' | ' | ' | ' | ' | 0.2 | 0.7 | 7.4 | 2.4 | ' | ' | ' | ' | ' |
Defined Benefit Plan, Plan Amendments | ' | ' | ' | ' | ' | ' | 0 | 0 | 30.6 | 0 | -1.4 | 1.8 | ' | ' | ' | ' |
Decrease in accumulated other comprehensive loss net of tax | 61.5 | -39.4 | 12.2 | ' | ' | ' | 0.1 | ' | -19.7 | ' | ' | ' | ' | ' | ' | ' |
Discount rate | ' | ' | ' | ' | ' | 4.21% | ' | 5.66% | 5.88% | ' | 5.69% | 5.88% | ' | ' | ' | ' |
Defined Benefit Plan Expected Return on Plan Assets Major Asset Classes Time Horizon | ' | ' | ' | '10 | '15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Contribution Plan, Cost Recognized | $4.70 | $4.20 | $4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement_Plans_Net_Periodic_
Retirement Plans (Net Periodic Benefit Cost) (Details) (Pension Plan, Defined Benefit [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Pension Plan, Defined Benefit [Member] | ' | ' | ' |
Service cost | $2 | $1.80 | $2.50 |
Interest cost | 18.3 | 20.2 | 21.2 |
Expected return on plan assets | -25.1 | -24 | -23.4 |
Amortization of prior service cost (gain) | 0 | 0.6 | 0.6 |
Amortization of net loss (gain) | 9 | 6 | 5.9 |
Curtailment / special settlement loss (gain) | 0.1 | 0.2 | 0.7 |
Costs allocated to discontinued operations | 0 | 1.1 | 4.3 |
Defined Benefit Plan, Net Periodic Benefit Cost | $4.30 | $3.70 | $3.20 |
Retirement_Plans_Accumulated_a
Retirement Plans (Accumulated and Projected Benefit Obligations) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Pension Plans with accumulated benefit obligations in excess of plan assets | ' | ' |
Projected benefit obligation | $390.40 | $445.20 |
Accumulated benefit obligation | 390.4 | 445 |
Fair value of plan assets | 384.8 | 383.2 |
Pension plans with plan assets in excess of accumulated benefit obligations | ' | ' |
Projected benefit obligation | 9.2 | 3.1 |
Accumulated benefit obligation | 9.1 | 3.1 |
Fair value of plan assets | $10.40 | $3.90 |
Retirement_Plans_Amounts_Recog
Retirement Plans (Amounts Recognized for Pension and Other Postretirement Benefit Plans) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Plan assets: | ' | ' | ' |
End of year | $395.20 | $387.10 | ' |
Pension Plan, Defined Benefit [Member] | ' | ' | ' |
Projected benefit obligations: | ' | ' | ' |
Beginning of year | 448.3 | 381.3 | ' |
Service cost | 2 | 1.8 | 2.5 |
Interest cost | 18.3 | 20.2 | 21.2 |
Defined Benefit Plan, Plan Amendments | 0 | 0 | 30.6 |
Actuarial loss (gain) | -42.5 | 71.6 | ' |
Benefits paid | -26 | -24.7 | ' |
Currency translation | -0.5 | 0.6 | ' |
Decrease in obligation due to curtailment | 0 | 2.8 | ' |
Other | 0 | 0.3 | ' |
End of year | 399.6 | 448.3 | 381.3 |
Accumulated benefit obligation at end of year | 399.5 | 448.1 | ' |
Plan assets: | ' | ' | ' |
Beginning of year | 387.1 | 331.8 | ' |
Actual return on plan assets | 34.4 | 58.2 | ' |
Employer contributions | 0.2 | 21.3 | ' |
Currency translation | -0.5 | 0.5 | ' |
Benefits paid | 26 | 24.7 | ' |
End of year | 395.2 | 387.1 | 331.8 |
Accrued benefit cost at end of year: | ' | ' | ' |
Unfunded status | -4.4 | -61.2 | ' |
Recognized on balance sheet: | ' | ' | ' |
Other noncurrent assets | 1.3 | 0.9 | ' |
Other current liabilities | 0 | 0 | ' |
Other noncurrent liabilities | -5.7 | -62.1 | ' |
Amount recognized on balance sheet | -4.4 | -61.2 | ' |
Recognized in accumulated other comprehensive loss, before tax: | ' | ' | ' |
Prior year service cost (gain) | 0.2 | 0.3 | ' |
Net actuarial loss (gain) | 74.5 | 135.3 | ' |
Recognized in accumulated other comprehensive loss, before tax | 74.7 | 135.6 | ' |
Other Plans [Member] | ' | ' | ' |
Projected benefit obligations: | ' | ' | ' |
Beginning of year | 0.2 | 2.1 | ' |
Service cost | 0 | 0 | ' |
Interest cost | 0 | 0.1 | ' |
Defined Benefit Plan, Plan Amendments | 0 | -1.4 | 1.8 |
Actuarial loss (gain) | 0 | -0.1 | ' |
Benefits paid | -0.2 | -0.5 | ' |
Currency translation | 0 | 0 | ' |
Decrease in obligation due to curtailment | 0 | 0 | ' |
Other | 0 | 0 | ' |
End of year | 0 | 0.2 | 2.1 |
Accumulated benefit obligation at end of year | 0 | 0.2 | ' |
Plan assets: | ' | ' | ' |
Beginning of year | 0 | 0 | ' |
Actual return on plan assets | 0 | 0 | ' |
Employer contributions | 0.2 | 0.5 | ' |
Currency translation | 0 | 0 | ' |
Benefits paid | 0.2 | 0.5 | ' |
End of year | 0 | 0 | 0 |
Accrued benefit cost at end of year: | ' | ' | ' |
Unfunded status | 0 | -0.2 | ' |
Recognized on balance sheet: | ' | ' | ' |
Other noncurrent assets | 0 | 0 | ' |
Other current liabilities | 0 | -0.1 | ' |
Other noncurrent liabilities | 0 | -0.1 | ' |
Amount recognized on balance sheet | 0 | -0.2 | ' |
Recognized in accumulated other comprehensive loss, before tax: | ' | ' | ' |
Prior year service cost (gain) | 0 | -0.4 | ' |
Net actuarial loss (gain) | 0 | -4.2 | ' |
Recognized in accumulated other comprehensive loss, before tax | $0 | ($4.60) | ' |
Retirement_Plans_Pension_and_O
Retirement Plans (Pension and Other Postretirement Benefits Activity in Accumulated Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Other | ($61.50) | $39.40 | ($12.20) |
Pension Plan, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Balance at beginning of year | 135.6 | ' | ' |
Actuarial gain | -51.8 | ' | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | -9 | -6 | -5.9 |
Other | -0.1 | ' | 19.7 |
Balance at end of year | $74.70 | $135.60 | ' |
Retirement_Plans_Components_of
Retirement Plans (Components of Accumulated Other Comprehensive Income (Loss) Related to Pension and Other Postretirement Benefits) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Pension Plan, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | $0 | $0.60 | $0.60 |
Defined Benefit Plan, Amortization of Gains (Losses) | -9 | -6 | -5.9 |
Scenario, Forecast [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plans, Expected Future Amortization Into Net Periodic Benefit Cost in Year One | 3.6 | ' | ' |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0.1 | ' | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | $3.50 | ' | ' |
Retirement_Plans_Assumptions_U
Retirement Plans (Assumptions Used) (Details) | 3 Months Ended | 12 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2012 | Sep. 30, 2011 | Apr. 02, 2013 | |
Pension Plan, Defined Benefit [Member] | Pension Plan, Defined Benefit [Member] | Pension Plan, Defined Benefit [Member] | Other Plans [Member] | Other Plans [Member] | Other Plans [Member] | |
Weighted average used to determine benefit obligations: | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 5.16% | 4.21% | 5.66% | 4.22% | 5.69% | 5.00% |
Rate of compensation increases | 3.50% | 3.50% | 3.50% | ' | ' | ' |
Weighted average used to determine net periodic cost: | ' | ' | ' | ' | ' | ' |
Discount rate | 4.21% | 5.66% | 5.88% | 5.69% | 5.88% | ' |
Expected return on plan assets | 6.71% | 6.95% | 7.47% | ' | ' | ' |
Rate of compensation increases | 3.50% | 3.50% | 3.50% | ' | ' | ' |
Assumed healthcare cost trend rates: | ' | ' | ' | ' | ' | ' |
Next year - pre-65 | ' | ' | ' | ' | 7.50% | ' |
Ultimate trend rate - pre-65 | ' | ' | ' | ' | 5.00% | ' |
Year ultimate trend rate achieved | ' | ' | ' | ' | '2016 | ' |
Retirement_Plans_Effect_of_One
Retirement Plans (Effect of One-Percentage-Point Change in Assumptions) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Discount Rate [Member] | ' |
Effects of One-Percentage-Point Change in Assumptions [Line Items] | ' |
Effect on service and interest cost components, 1 percentage point increase | ($0.20) |
Effect on service and interest cost components, 1 percentage point decrease | 0.3 |
Effect on benefit obligation, 1 percentage point increase | -39.2 |
Effect on benefit obligation, 1 percentage point decrease | 47.3 |
Effect on 2014 expense, 1 percentage point increase | -2.3 |
Effect on 2014 expense, 1 percentage point decrease | 2.7 |
Expected Return on Plan Assets [Member] | ' |
Effects of One-Percentage-Point Change in Assumptions [Line Items] | ' |
Effect on 2014 expense, 1 percentage point increase | -3.8 |
Effect on 2014 expense, 1 percentage point decrease | $3.80 |
Retirement_Plans_Strategic_Ass
Retirement Plans (Strategic Asset Allocation) (Details) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Strategic asset allocation | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 100.00% | ' | ' |
Actual asset allocations | ' | ' | ' |
Actual plan asset allocations | 100.00% | 100.00% | 100.00% |
Equity Securities [Member] | ' | ' | ' |
Strategic asset allocation | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 40.00% | ' | ' |
Equity investments tactical range, minimum | 30.00% | ' | ' |
Equity investments tactical range, maximum | 50.00% | ' | ' |
Actual asset allocations | ' | ' | ' |
Actual plan asset allocations | 40.00% | 59.00% | 46.00% |
Large Capitalization Stocks [Member] | ' | ' | ' |
Strategic asset allocation | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 26.00% | ' | ' |
Small Capitalization Stocks [Member] | ' | ' | ' |
Strategic asset allocation | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 5.00% | ' | ' |
International Stocks [Member] | ' | ' | ' |
Strategic asset allocation | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 9.00% | ' | ' |
Fixed Income Funds [Member] | ' | ' | ' |
Strategic asset allocation | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | ' | 60.00% | ' |
Equity investments tactical range, minimum | 50.00% | ' | ' |
Equity investments tactical range, maximum | 70.00% | ' | ' |
Actual asset allocations | ' | ' | ' |
Actual plan asset allocations | 59.00% | 39.00% | 53.00% |
Cash and Cash Equivalents [Member] | ' | ' | ' |
Strategic asset allocation | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 0.00% | ' | ' |
Equity investments tactical range, minimum | 0.00% | ' | ' |
Equity investments tactical range, maximum | 5.00% | ' | ' |
Actual asset allocations | ' | ' | ' |
Actual plan asset allocations | 1.00% | 2.00% | 1.00% |
Retirement_Plans_Fair_Value_As
Retirement Plans (Fair Value Asset Allocation) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | $395.20 | $387.10 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 52.1 | 134.6 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 343.1 | 251 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 1.5 |
Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 160.9 | 227.3 |
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 47.6 | 134.4 |
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 113.3 | 92.9 |
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Large Cap Growth Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 31.7 | 15.6 |
Large Cap Growth Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Large Cap Growth Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 31.7 | 15.6 |
Large Cap Growth Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Large Cap Index Funds [Member] [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 26.1 | ' |
Large Cap Index Funds [Member] [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | ' |
Large Cap Index Funds [Member] [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 26.1 | ' |
Large Cap Index Funds [Member] [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | ' |
Large Cap Value Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 16.3 | 30.4 |
Large Cap Value Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Large Cap Value Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 16.3 | 30.4 |
Large Cap Value Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Large Cap Growth Mutual Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 16.1 | 71.7 |
Large Cap Growth Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 16.1 | 71.7 |
Large Cap Growth Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Large Cap Growth Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Large Cap Value Mutual Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | 31.3 |
Large Cap Value Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | 31.3 |
Large Cap Value Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | 0 |
Large Cap Value Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | 0 |
Small Cap Growth Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 23.5 | ' |
Small Cap Growth Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | ' |
Small Cap Growth Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 23.5 | ' |
Small Cap Growth Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | ' |
Smallcap Index Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | 36.3 |
Smallcap Index Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | 0 |
Smallcap Index Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | 36.3 |
Smallcap Index Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | 0 |
Mutual Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 31.5 | 31.4 |
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 31.5 | 31.4 |
Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
International Stocks [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 15.7 | 10.6 |
International Stocks [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
International Stocks [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 15.7 | 10.6 |
International Stocks [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Fixed Income Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 229.8 | 151.3 |
Fixed Income Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Fixed Income Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 229.8 | 151.3 |
Fixed Income Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Cash and Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 4.5 | 7 |
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 4.5 | 0.2 |
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 6.8 |
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | 0 | 0 |
Other Assets [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | 1.5 |
Other Assets [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | 0 |
Other Assets [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | 0 |
Other Assets [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of assets | ' | $1.50 |
Retirement_Plans_Estimated_Fut
Retirement Plans (Estimated Future Benefit Payments) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' |
Estimated benefit payments, CY plus 1 | $26.50 |
Estimated benefit payments, CY plus 2 | 26.4 |
Estimated benefit payments, CY plus 3 | 26.5 |
Estimated benefit payments, CY plus 4 | 26.7 |
Estimated benefit payments, CY plus 5 | 27 |
Estimated benefit payments, CY plus 6 and up | $137 |
Capital_Stock_Details
Capital Stock (Details) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Outstanding Shares [Roll Forward] | ' | ' | ' |
Shares outstanding | 156,840,648 | 155,793,612 | 154,708,474 |
Exercised stock options | 384,475 | 8,552 | 7,327 |
Exercise of employee stock purchase plan | 290,173 | 339,242 | 397,010 |
Vesting of restricted stock units, net of shares withheld | 719,004 | 699,242 | 680,801 |
Shares outstanding | 158,234,300 | 156,840,648 | 155,793,612 |
Stockbased_Compensation_Plans_1
Stock-based Compensation Plans (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 14, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | '0 years 11 months | ' | '1 year | '1 year 7 months | '1 year 11 months | ' |
Number of shares authorized under a Plan | ' | ' | ' | ' | ' | 20,500,000 |
Shares available for future grants under a Plan | 8,032,964 | 8,032,964 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | ' | '10 years | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | 509,338 | 1,406,318 | 990,139 | ' | ' |
Share-based Compensation, Expected Forfeiture Rate | ' | 5.00% | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | $5.37 | $2.19 | $3.63 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $2,800,000 | $2,800,000 | ' | ' | ' | ' |
Weighted-average recognition period, Compensation expense related to stock awards not yet vested | ' | '1 year 3 months | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | ' | 1,387,198 | ' | ' | ' | ' |
Employee Stock Option [Member] | ' | ' | ' | ' | ' | ' |
Usual award vesting period | ' | '3 years | ' | ' | ' | ' |
Phantom Share Units (PSUs) [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | ' | '0 years 11 months 20 days | '1 year 2 months 15 days | '0 years | ' | ' |
Usual award vesting period | ' | '3 years | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | 382,605 | 358,866 | ' | ' | ' |
Share-based compensation liability | 2,500,000 | 2,500,000 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | $5.22 | $2.03 | ' | ' | ' |
Employee Stock [Member] | ' | ' | ' | ' | ' | ' |
Number of shares authorized under a Plan | 4,000,000 | 4,000,000 | ' | ' | ' | ' |
Shares available for future grants under a Plan | 1,887,163 | 1,887,163 | ' | ' | ' | ' |
Maximum Employee Designation Of Annual Compensation For The Purchase Stock | ' | 25,000 | ' | ' | ' | ' |
Maximum Employee Designation Of Annual Compensation For The Purchase Of Stock | ' | 20.00% | ' | ' | ' | ' |
Maximum number of Series A common stock shares purchasable in any three-month offering period | 1,000 | ' | ' | ' | ' | ' |
Price for shares offered under ESPP, as a percentage of closing price on the first or last day of the offering period | 85.00% | ' | ' | ' | ' | ' |
Performance Shares [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | 406,658 | ' | ' | ' | ' |
Performance Factor | ' | 0 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Intrinsic Value, Amount Per Share | $7.99 | $7.99 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | $5.22 | ' | ' | ' | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' | ' | ' |
Usual award vesting period | ' | '3 years | ' | ' | ' | ' |
Cash-settled Performance Shares [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | 243,992 | ' | ' | ' | ' |
Share-based compensation liability | $1,900,000 | $1,900,000 | ' | ' | ' | ' |
Minimum [Member] | Performance Shares [Member] | ' | ' | ' | ' | ' | ' |
Performance Factor | ' | 0 | ' | ' | ' | ' |
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' | ' | ' |
Usual award vesting period | ' | '3 years | ' | ' | ' | ' |
Maximum [Member] | Performance Shares [Member] | ' | ' | ' | ' | ' | ' |
Performance Factor | ' | 0 | ' | ' | ' | ' |
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' | ' | ' |
Usual award vesting period | ' | '7 years | ' | ' | ' | ' |
Stockbased_Compensation_Plans_2
Stock-based Compensation Plans (Schedule of Share-based Compensation, Effect on Statement of Operations) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Decrease in operating income | $11.40 | $6 | $5 |
Effect on net income or loss | ($6.90) | ($3.50) | ($3.30) |
Effect on earnings or loss per basic share | ($0.04) | ($0.02) | ($0.02) |
Effect on earnings or loss per diluted share | ($0.04) | ($0.02) | ($0.02) |
Stockbased_Compensation_Plans_3
Stock-based Compensation Plans (Schedule of Share-based Compensation, Restricted Stock Units Activity) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
RSUs, Outstanding, Number | 1,925,340 | 1,925,340 | 2,423,762 | 2,065,766 | 2,095,713 |
Outstanding, Weighted average grant date fair value per share | $4.30 | $4.30 | $4.13 | $6.11 | $7.66 |
Outstanding, Weighted average remaining contractual term | '0 years 11 months | ' | '1 year | '1 year 7 months | '1 year 11 months |
Granted, shares | ' | 509,338 | 1,406,318 | 990,139 | ' |
Granted, Weighted average grant date fair value per share | ' | $5.37 | $2.19 | $3.63 | ' |
Vested, shares | ' | 995,037 | 867,451 | 762,893 | ' |
RSUs, Vested in Period, Weighted Average Grant Date Fair Value | ' | $4.77 | $5.44 | $7.02 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | ' | $5.60 | $2.20 | $2.70 | ' |
Canceled, shares | ' | 12,723 | 180,871 | 257,193 | ' |
Canceled, Weighted average grant date fair value per share | ' | $12.28 | $5.33 | $6.48 | ' |
Stockbased_Compensation_Plans_4
Stock-based Compensation Plans (Schedule of Share-based Compensation. Option Activity (Details) (USD $) | 12 Months Ended | ||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Outstanding, shares | 5,522,610 | 5,625,133 | 4,724,546 | ' | 5,124,706 |
Outstanding, Weighted average exercise price (per share) | $6.22 | $6.30 | $6.74 | $7.89 | ' |
Outstanding, Weighted average remaining contractual term, years | '5 years 11 months | '6 years 10 months | '7 years 6 months | '7 years 11 months | ' |
Outstanding, Aggregate intrinsic value | $14.60 | $3.50 | $0 | $0 | ' |
Granted, shares | 125,780 | 677,117 | 1,516,316 | ' | ' |
Granted, Weighted average exercise price (per share) | $5.91 | $2.18 | $3.57 | ' | ' |
Exercised, shares | -384,475 | -8,552 | -7,327 | ' | ' |
Exercised, Weighted average exercise price (per share) | $4.97 | $3.59 | $3.33 | ' | ' |
Exercised, Aggregate intrinsic value | 1.2 | 0 | 0 | ' | ' |
Canceled, shares | -139,209 | -771,088 | -608,402 | ' | ' |
Canceled, Weighted average exercise price (per share) | $12.52 | $5.97 | $7.78 | ' | ' |
Stock Options, Exercisable, Number | 4,172,371 | ' | ' | ' | ' |
Exercisable, Weighted average exercise price (per share) | $6.90 | ' | ' | ' | ' |
Exercisable, Weighted average remaining contractual term, years | '5 years 6 months | ' | ' | ' | ' |
Exercisable, Aggregate intrinsic value | 10.1 | ' | ' | ' | ' |
Expected to vest in subsequent periods, shares | 924,327 | ' | ' | ' | ' |
Expected to vest in subsequent periods, Weighted average exercise price (per share) | $3.22 | ' | ' | ' | ' |
Expected to vest in subsequent periods, Weighted average remaining contractual term, years | '7 years 11 months | ' | ' | ' | ' |
Expected to vest in subsequent periods, Aggregate intrinsic value | $4.40 | ' | ' | ' | ' |
Stockbased_Compensation_Plans_5
Stock-based Compensation Plans Schedule of Share-based Compensation, Option Disclosures by Ranges of Exercise Prices (Details) (USD $) | 12 Months Ended |
Sep. 30, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock Options, Exercise Price Range, Number of Outstanding Options | 5,124,706 |
Stock Options, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $6.22 |
Stock Options, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '5 years 11 months |
Stock Options, Exercisable, Number | 4,172,371 |
Stock Options, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $6.90 |
Exercise Price Range 1 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock Options, Exercise Price Range, Lower Range Limit | $2.03 |
Stock Options, Exercise Price Range, Upper Range Limit | $4.97 |
Stock Options, Exercise Price Range, Number of Outstanding Options | 2,081,018 |
Stock Options, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $3.27 |
Stock Options, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '7 years 3 months |
Stock Options, Exercisable, Number | 1,254,463 |
Stock Options, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $3.57 |
Exercise Price Range 2 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock Options, Exercise Price Range, Lower Range Limit | $5.05 |
Stock Options, Exercise Price Range, Upper Range Limit | $9.48 |
Stock Options, Exercise Price Range, Number of Outstanding Options | 2,026,658 |
Stock Options, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $5.68 |
Stock Options, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '5 years 9 months |
Stock Options, Exercisable, Number | 1,900,878 |
Stock Options, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $5.66 |
Exercise Price Range 3 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock Options, Exercise Price Range, Lower Range Limit | $10.66 |
Stock Options, Exercise Price Range, Upper Range Limit | $14.55 |
Stock Options, Exercise Price Range, Number of Outstanding Options | 706,776 |
Stock Options, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $11.83 |
Stock Options, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '3 years 8 months |
Stock Options, Exercisable, Number | 706,776 |
Stock Options, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $11.83 |
Exercise Price Range 4 [Domain] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock Options, Exercise Price Range, Lower Range Limit | $15.09 |
Stock Options, Exercise Price Range, Upper Range Limit | $20.56 |
Stock Options, Exercise Price Range, Number of Outstanding Options | 310,254 |
Stock Options, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $16.71 |
Stock Options, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '2 years 10 months |
Stock Options, Exercisable, Number | 310,254 |
Stock Options, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $16.71 |
Stockbased_Compensation_Plans_6
Stock-based Compensation Plans (Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions) (Details) (Employee Stock Option [Member], USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Employee Stock Option [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Grant-date fair value, in dollars per share | $5.91 | $1.31 | $1.25 |
Risk-free interest rate | 1.63% | 1.74% | 2.26% |
Dividend yield | 2.17% | 1.97% | 1.57% |
Expected life (years) | '8 years | '8 years | '7 years 2 months 9 days |
Expected annual volatility | 66.96% | -73.42% | -36.58% |
Stockbased_Compensation_Plans_7
Stock-based Compensation Plans (Schedule of Share-based Compensation, Phantom Award Activity) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Outstanding, Weighted average grant date fair value per share | $4.30 | $4.30 | $4.13 | $6.11 | $7.66 |
Outstanding, Weighted average remaining contractual term | '0 years 11 months | ' | '1 year | '1 year 7 months | '1 year 11 months |
Granted, shares | ' | 509,338 | 1,406,318 | 990,139 | ' |
Granted, Weighted average grant date fair value per share | ' | $5.37 | $2.19 | $3.63 | ' |
Vested, shares | ' | 995,037 | 867,451 | 762,893 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | ' | $5.60 | $2.20 | $2.70 | ' |
Canceled, shares | ' | 12,723 | 180,871 | 257,193 | ' |
Canceled, Weighted average grant date fair value per share | ' | $12.28 | $5.33 | $6.48 | ' |
Phantom Share Units (PSUs) [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Outstanding, shares | ' | 358,866 | 0 | ' | ' |
Outstanding, Weighted average grant date fair value per share | $4.03 | $4.03 | $2.03 | $0 | ' |
Outstanding, Weighted average remaining contractual term | ' | '0 years 11 months 20 days | '1 year 2 months 15 days | '0 years | ' |
Granted, shares | ' | 382,605 | 358,866 | ' | ' |
Granted, Weighted average grant date fair value per share | ' | $5.22 | $2.03 | ' | ' |
Vested, shares | ' | 119,637 | 0 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | ' | $0.70 | $0 | ' | ' |
Canceled, shares | ' | 12,852 | 0 | ' | ' |
Canceled, Weighted average grant date fair value per share | ' | $2.03 | $0 | ' | ' |
Outstanding, shares | 608,982 | 608,982 | 358,866 | 0 | ' |
Supplemental_Balance_Sheet_Inf2
Supplemental Balance Sheet Information (Schedule Of Selected Supplemental Balance Sheet Information) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 |
In Millions, unless otherwise specified | ||||
Inventories: | ' | ' | ' | ' |
Purchased components and raw material | $75.40 | $69.70 | ' | ' |
Work in process | 38.6 | 27.5 | ' | ' |
Finished goods | 94.5 | 86 | ' | ' |
Inventories, net | 208.5 | 183.2 | ' | ' |
Other current assets: | ' | ' | ' | ' |
Maintenance and repair tooling | 22.5 | 22.9 | ' | ' |
Prepaid income taxes | 14.9 | 3.9 | ' | ' |
U.S. Pipe-related workers' compensation and other reimbursements | 2.2 | 4.3 | ' | ' |
Other | 6.5 | 6.9 | ' | ' |
Other current assets | 46.1 | 38 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' |
Land | 10.6 | 12.3 | ' | ' |
Buildings | 75.5 | 71.3 | ' | ' |
Machinery and equipment | 305.7 | 286.5 | ' | ' |
Construction in progress | 19.6 | 12.4 | ' | ' |
Property, plant and equipment, gross | 411.4 | 382.5 | ' | ' |
Accumulated depreciation | -269.5 | -244.6 | ' | ' |
Property, plant and equipment net | 141.9 | 137.9 | ' | ' |
Other current liabilities: | ' | ' | ' | ' |
Compensation and benefits | 37.3 | 41 | ' | ' |
Customer rebates | 15.5 | 13.7 | ' | ' |
Interest | 12 | 12.2 | ' | ' |
Taxes other than income taxes | 5 | 5.6 | ' | ' |
Warranty | 2.8 | 1.6 | 2 | 1.5 |
Income taxes | 1.3 | 0.9 | ' | ' |
Restructuring | 0 | 0.6 | ' | ' |
Environmental | 0.2 | 0.2 | ' | ' |
Other | 6.5 | 7 | ' | ' |
Other current liabilities | $80.60 | $82.80 | ' | ' |
Supplemental_Statement_of_Oper2
Supplemental Statement of Operations Information (Details) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Included in selling, general and administrative expenses: | ' | ' | ' |
Research and development | $14.80 | $12.70 | $9.90 |
Advertising | 5 | 4.9 | 4.3 |
Interest expense, net: | ' | ' | ' |
Deferred financing fees amortization | 2 | 2.3 | 2.3 |
Interest rate swap contracts | 0 | 5 | 8 |
Other interest expense | 0.7 | -0.6 | 0.6 |
Interest Expense | -52 | -60.2 | -65.9 |
Interest income | -0.3 | -0.3 | -0.3 |
Interest expense, net | 51.7 | 59.9 | 65.6 |
Seven Point Three Seven Five Senior Subordinated Notes [Member] | ' | ' | ' |
Interest expense, net: | ' | ' | ' |
Debt instrument interest expense | 31 | 31 | 31 |
Eight Point Seven Five Senior Unsecured Notes [Member] | ' | ' | ' |
Interest expense, net: | ' | ' | ' |
Debt instrument interest expense | 16.8 | 19.3 | 20 |
ABL Agreement [Member] | ' | ' | ' |
Interest expense, net: | ' | ' | ' |
Debt instrument interest expense | $1.50 | $3.20 | $4 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss (Schedule Of Accumulated Other Comprehensive Loss) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | ($9.20) | ' | ' |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | -96.9 | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -87.7 | ' | ' |
Foreign currency translation | -2.4 | 2.9 | -1.1 |
Minimum pension liability, net of tax | 61.5 | -39.4 | 12.2 |
Other Comprehensive Income (Loss), Net of Tax | 59.1 | -33.5 | 16 |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -6.8 | -9.2 | ' |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | -35.4 | -96.9 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ($28.60) | ($87.70) | ' |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Cash paid (received), net: | ' | ' | ' |
Interest | $49.10 | $53.30 | $54.80 |
Income taxes | 0.7 | -6.9 | 4.6 |
Pension Plan, Defined Benefit [Member] | ' | ' | ' |
Supplemental Cash Flow Elements [Abstract] | ' | ' | ' |
Decrease in other noncurrent assets | 0.3 | -0.1 | -0.5 |
Decrease (increase) in other liabilities | 51.5 | -36.2 | 17.3 |
Decrease (increase) in other current liabilities | 0 | 0.3 | -0.3 |
Increase (Decrease) in Deferred Income Taxes | -20.1 | -0.6 | -6.4 |
Decrease (increase) in accumulated other comprehensive loss | -31.7 | 36.6 | -10.1 |
Increase (Decrease) in Other Operating Assets and Liabilities, Net | $0 | $0 | $0 |
Segment_Information_Revenue_an
Segment Information (Revenue and Long-Lived Assets by Geographical Areas) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $293.20 | $299.40 | $283.10 | $245.10 | $281.10 | $275.90 | $251.50 | $215.40 | $1,120.80 | $1,023.90 | $964.60 |
Property, plant and equipment, net | 141.9 | ' | ' | ' | 137.9 | ' | ' | ' | 141.9 | 137.9 | ' |
United States | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 971 | 872.3 | 834 |
Property, plant and equipment, net | 133.6 | ' | ' | ' | 129.2 | ' | ' | ' | 133.6 | 129.2 | ' |
Canada | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 101.5 | 112.4 | 113.5 |
Property, plant and equipment, net | 4.7 | ' | ' | ' | 5.6 | ' | ' | ' | 4.7 | 5.6 | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 48.3 | 39.2 | 17.1 |
Property, plant and equipment, net | $3.60 | ' | ' | ' | $3.10 | ' | ' | ' | $3.60 | $3.10 | ' |
Segment_Information_Narrative_
Segment Information (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 |
business_segments | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | ||
Major Customers, Group One | Major Customers, Group One | Major Customers, Group Two | Major Customers, Group Two | Ferguson Enterprises | Ferguson Enterprises | Ferguson Enterprises | Ferguson Enterprises | Ferguson Enterprises | Ferguson Enterprises | Ferguson Enterprises | HD Supply | HD Supply | HD Supply | HD Supply | HD Supply | HD Supply | |||
customer | Sales Revenue, Goods, Gross [Member] | customer | Sales Revenue, Goods, Gross [Member] | Sales Revenue, Goods, Gross [Member] | Sales Revenue, Goods, Gross [Member] | Sales Revenue, Goods, Gross [Member] | Sales Revenue, Goods, Gross [Member] | Sales Revenue, Goods, Gross [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Sales Revenue, Goods, Gross [Member] | Sales Revenue, Goods, Gross [Member] | Sales Revenue, Goods, Gross [Member] | Sales Revenue, Goods, Gross [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | |||
Mueller Co. [Member] | Anvil [Member] | Mueller Co. [Member] | Anvil [Member] | ||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Reportable Segments | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration risk, percentage of benchmark | ' | ' | ' | 38.00% | ' | 23.00% | 12.00% | 12.00% | 12.00% | 15.00% | 8.00% | ' | ' | 10.00% | 10.00% | 14.00% | 11.00% | ' | ' |
Number of major customers | ' | ' | 10 | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Receivables, net | $164.50 | $166.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $22.90 | $22.40 | ' | ' | ' | ' | $24.40 | $16.40 |
Segment_Information_Schedule_O
Segment Information (Schedule Of Selected Supplemental Balance Sheet Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales, excluding intercompany | $293.20 | $299.40 | $283.10 | $245.10 | $281.10 | $275.90 | $251.50 | $215.40 | $1,120.80 | $1,023.90 | $964.60 |
Intercompany sales | ' | ' | ' | ' | ' | ' | ' | ' | 7.5 | 7.4 | 8.8 |
Operating income | 33.2 | 32.9 | 24.3 | 6.9 | 21.9 | 25.7 | 10.6 | 5.9 | 97.3 | 64.1 | 52.7 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 59.2 | 60.6 | 63.1 |
Restructuring | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | 2.8 | 3.6 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 35.6 | 31.4 | 23.1 |
Total assets | 1,281.90 | ' | ' | ' | 1,240.90 | ' | ' | ' | 1,281.90 | 1,240.90 | ' |
Intangible intangible assets, net | 553.1 | ' | ' | ' | 580.5 | ' | ' | ' | 553.1 | 580.5 | ' |
Mueller Co. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales, excluding intercompany | ' | ' | ' | ' | ' | ' | ' | ' | 729.5 | 652.4 | 605.5 |
Intercompany sales | ' | ' | ' | ' | ' | ' | ' | ' | 7.4 | 7.3 | 8.7 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 91.3 | 57.7 | 53.8 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 44.6 | 45.7 | 47.7 |
Restructuring | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | 2.5 | 1.4 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 23.1 | 20 | 14.8 |
Total assets | 846.8 | ' | ' | ' | 843 | ' | ' | ' | 846.8 | 843 | ' |
Intangible intangible assets, net | 491.6 | ' | ' | ' | 515.5 | ' | ' | ' | 491.6 | 515.5 | ' |
Anvil [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales, excluding intercompany | ' | ' | ' | ' | ' | ' | ' | ' | 391.3 | 371.5 | 359.1 |
Intercompany sales | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.1 | 0.1 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 40.2 | 37.3 | 31.8 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 14.2 | 14.3 | 14.5 |
Restructuring | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.3 | 1.2 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 12.3 | 11.4 | 7.5 |
Total assets | 259.6 | ' | ' | ' | 258.7 | ' | ' | ' | 259.6 | 258.7 | ' |
Intangible intangible assets, net | 61.5 | ' | ' | ' | 65 | ' | ' | ' | 61.5 | 65 | ' |
Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales, excluding intercompany | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Intercompany sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | -34.2 | -30.9 | -32.9 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | 0.6 | 0.9 |
Restructuring | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | 0 | 1 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | 0 | 0.8 |
Total assets | 175.5 | ' | ' | ' | 139.2 | ' | ' | ' | 175.5 | 139.2 | ' |
Intangible intangible assets, net | $0 | ' | ' | ' | $0 | ' | ' | ' | $0 | $0 | ' |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 |
USD ($) | CAD | USD ($) | USD ($) | Prior To 1995 [member] | From 2000 to 2005 [Member] | |
USD ($) | USD ($) | |||||
Loss Contingency, Damages Sought, Value | ' | 10 | ' | ' | ' | ' |
Damages arising due to alleged environmental contamination of the property and breach of lease | ' | 10 | ' | ' | ' | ' |
Walter Energy tax assessment | ' | ' | ' | ' | 34 | 82.2 |
Walter Energy tax assessment prior to 1995 related to timing | 21 | ' | ' | ' | ' | ' |
Amount payable pending completion of an IRS audit | 11.6 | ' | ' | ' | ' | ' |
Operating Leases | ' | ' | ' | ' | ' | ' |
Rent expense | 8.4 | ' | 8.4 | 8.5 | ' | ' |
Future minimum payment under non-cancelable operating leases, CY Plus 1 | 7.1 | ' | ' | ' | ' | ' |
Future minimum payment under non-cancelable operating leases, CY Plus 2 | 5.9 | ' | ' | ' | ' | ' |
Future minimum payment under non-cancelable operating leases, CY Plus 3 | 5 | ' | ' | ' | ' | ' |
Future minimum payment under non-cancelable operating leases, CY Plus 4 | 3.9 | ' | ' | ' | ' | ' |
Future minimum payment under non-cancelable operating leases, CY Plus 5 | 2.3 | ' | ' | ' | ' | ' |
Future minimum payment under non-cancelable operating leases, CY plus 6 and up | $3.60 | ' | ' | ' | ' | ' |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | |
Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ' | ' | ' | ' |
Dividends Payable, Date Declared | ' | ' | ' | 23-Oct-13 |
Dividends declared, in dollars per share | $0.07 | $0.07 | $0.07 | $0.02 |
Dividends Payable, Date to be Paid | ' | ' | ' | 20-Nov-13 |
Dividends Payable, Date of Record | ' | ' | ' | 8-Nov-13 |
Quarterly_Consolidated_Financi2
Quarterly Consolidated Financial Information (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Net sales | $293.20 | $299.40 | $283.10 | $245.10 | $281.10 | $275.90 | $251.50 | $215.40 | $1,120.80 | $1,023.90 | $964.60 |
Gross profit | 88.8 | 90 | 77.3 | 57.1 | 76.6 | 79.6 | 62.1 | 52.8 | 313.2 | 271.1 | 248.1 |
Operating income | 33.2 | 32.9 | 24.3 | 6.9 | 21.9 | 25.7 | 10.6 | 5.9 | 97.3 | 64.1 | 52.7 |
Income (loss) from continuing operations | 16.8 | 16 | 7.6 | -5 | 4.3 | 5.9 | -8.9 | -6.5 | 35.4 | -5.2 | -10 |
Income (loss) from discontinued operations, net of tax | -3.3 | -1.9 | -1.4 | 12 | -0.8 | 3.9 | -100.9 | -5.4 | 5.4 | -103.2 | -28.1 |
Net income (loss) | $13.50 | $14.10 | $6.20 | $7 | $3.50 | $9.80 | ($109.80) | ($11.90) | $40.80 | ($108.40) | ($38.10) |
Net income (loss) per basic share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Continuing operations, in dollars per share | $0.11 | $0.10 | $0.05 | ($0.03) | $0.03 | $0.04 | ($0.06) | ($0.04) | $0.23 | ($0.03) | ($0.07) |
Discontinued operations, in dollars per share | ($0.02) | ($0.01) | ($0.01) | $0.07 | ($0.01) | $0.02 | ($0.64) | ($0.04) | $0.03 | ($0.66) | ($0.18) |
Net income (loss) per basic share | $0.09 | $0.09 | $0.04 | $0.04 | $0.02 | $0.06 | ($0.70) | ($0.08) | $0.26 | ($0.69) | ($0.25) |
Net income (loss) per diluted share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Continuing operations, in dollars per share | $0.10 | $0.10 | $0.05 | ($0.03) | $0.03 | $0.04 | ($0.06) | ($0.04) | $0.22 | ($0.03) | ($0.07) |
Discontinued operations, in dollars per share | ($0.02) | ($0.01) | ($0.01) | $0.07 | ($0.01) | $0.02 | ($0.64) | ($0.04) | $0.03 | ($0.66) | ($0.18) |
Net income (loss) per diluted share | $0.08 | $0.09 | $0.04 | $0.04 | $0.02 | $0.06 | ($0.70) | ($0.08) | $0.25 | ($0.69) | ($0.25) |
Consolidating_Guarantor_and_No2
Consolidating Guarantor and Non-Guarantor Financial Information (Schedule Of Guarantor Companies) (Details) | 12 Months Ended |
Sep. 30, 2013 | |
Anvil International Holdings, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Echologics, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Henry Pratt Company, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Henry Pratt International, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Hydro Gate, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
J.B. Smith Mfg. Co., LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
James Jones Company, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Milliken Valve, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Mueller Co. LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Mueller Group, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Mueller Group Co-Issuer, Inc. [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Mueller International, L.L.C. [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Mueller Property Holdings, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Mueller Co. International Holdings, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Mueller Service California, Inc. [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Mueller Service Co., LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Mueller Systems, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
OSP, LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
US Pipe Valve & Hydrant LLC [Member] | ' |
Entity Incorporation, State Country Name | 'Delaware |
Consolidating_Guarantor_and_No3
Consolidating Guarantor and Non-Guarantor Financial Information (Schedule Of Consolidating Balance Sheet) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | ||
Consolidating Guarantor and Non-Guarantor Financial Information [Text Block] | ' | ' | ' | ' | ||
The following information is included as a result of the guarantee by certain of our wholly-owned U.S. subsidiaries (“Guarantor Companies”) of the Senior Unsecured Notes and the Senior Subordinated Notes. None of our other subsidiaries guarantee the Senior Unsecured Notes and the Senior Subordinated Notes. Each of the guarantees is joint and several and full and unconditional. Guarantor Companies are listed below. | ||||||
Name | State of | |||||
incorporation | ||||||
or organization | ||||||
Anvil International, LLC | Delaware | |||||
Echologics, LLC | Delaware | |||||
Henry Pratt Company, LLC | Delaware | |||||
Henry Pratt International, LLC | Delaware | |||||
Hydro Gate, LLC | Delaware | |||||
J.B. Smith Mfg. Co., LLC | Delaware | |||||
James Jones Company, LLC | Delaware | |||||
Milliken Valve, LLC | Delaware | |||||
Mueller Co. LLC | Delaware | |||||
Mueller Group, LLC | Delaware | |||||
Mueller Group Co-Issuer, Inc. | Delaware | |||||
Mueller International, L.L.C. | Delaware | |||||
Mueller Property Holdings, LLC | Delaware | |||||
Mueller Co. International Holdings, LLC | Delaware | |||||
Mueller Service California, Inc. | Delaware | |||||
Mueller Service Co., LLC | Delaware | |||||
Mueller Systems, LLC | Delaware | |||||
OSP, LLC | Delaware | |||||
U.S. Pipe Valve & Hydrant, LLC | Delaware | |||||
Assets: | ' | ' | ' | ' | ||
Cash and cash equivalents | $123.60 | $83 | $61 | $84 | ||
Receivables, net | 164.5 | 166.1 | ' | ' | ||
Inventories | 208.5 | 183.2 | ' | ' | ||
Deferred income taxes | 26.7 | 19.6 | ' | ' | ||
Other current assets | 46.1 | 38 | ' | ' | ||
Total current assets | 569.4 | 489.9 | ' | ' | ||
Intercompany debits | ' | 0 | ' | ' | ||
Property, plant and equipment | 141.9 | 137.9 | ' | ' | ||
Identifiable intangible assets | 553.1 | 580.5 | ' | ' | ||
Other noncurrent assets | 17.5 | 32.6 | ' | ' | ||
Equity Method Investment, Aggregate Cost | 0 | 0 | ' | ' | ||
Total assets | 1,281.90 | 1,240.90 | ' | ' | ||
Liabilities and equity: | ' | ' | ' | ' | ||
Accounts payable | 101.2 | 84.5 | ' | ' | ||
Other current liabilities | 80.6 | 82.8 | ' | ' | ||
Total current liabilities | 183.1 | 168.4 | ' | ' | ||
Long-term debt | 599.5 | 621.7 | ' | ' | ||
Deferred income taxes | 141.5 | 132.8 | ' | ' | ||
Other noncurrent liabilities | 29.6 | 86.8 | ' | ' | ||
Intercompany accounts | 0 | 0 | ' | ' | ||
Total liabilities | 953.7 | 1,009.70 | ' | ' | ||
Stockholders' equity | 328.2 | 231.2 | ' | ' | ||
Total liabilities and stockholders' equity | 1,281.90 | 1,240.90 | ' | ' | ||
Current portion of long-term debt | 1.3 | 1.1 | ' | ' | ||
Issuer [Member] | ' | ' | ' | ' | ||
Assets: | ' | ' | ' | ' | ||
Cash and cash equivalents | 86.6 | 53.3 | 36.2 | 51.3 | ||
Receivables, net | 0.1 | 0 | ' | ' | ||
Inventories | 0 | 0 | ' | ' | ||
Deferred income taxes | 26.3 | 18.5 | ' | ' | ||
Other current assets | 18.2 | 10.5 | ' | ' | ||
Total current assets | 131.2 | 82.3 | ' | ' | ||
Intercompany debits | 882.7 | 956.7 | ' | ' | ||
Property, plant and equipment | 1.5 | 1.8 | ' | ' | ||
Identifiable intangible assets | 0 | 0 | ' | ' | ||
Other noncurrent assets | 16 | 30.5 | ' | ' | ||
Equity Method Investment, Aggregate Cost | 155.2 | 27.2 | ' | ' | ||
Total assets | 1,186.60 | 1,098.50 | ' | ' | ||
Liabilities and equity: | ' | ' | ' | ' | ||
Accounts payable | 4.6 | 8.3 | ' | ' | ||
Other current liabilities | 29.7 | 29.9 | ' | ' | ||
Total current liabilities | 34.3 | 38.2 | ' | ' | ||
Long-term debt | 598 | 619.9 | ' | ' | ||
Deferred income taxes | 140.9 | 132 | ' | ' | ||
Other noncurrent liabilities | 21.3 | 77.2 | ' | ' | ||
Intercompany accounts | -63.9 | 0 | ' | ' | ||
Total liabilities | 858.4 | 867.3 | ' | ' | ||
Stockholders' equity | 328.2 | 231.2 | ' | ' | ||
Total liabilities and stockholders' equity | 1,186.60 | 1,098.50 | ' | ' | ||
Current portion of long-term debt | 0 | 0 | ' | ' | ||
Guarantor Companies [Member] | ' | ' | ' | ' | ||
Assets: | ' | ' | ' | ' | ||
Cash and cash equivalents | -2.3 | -3.7 | -3.8 | -2.1 | ||
Receivables, net | 150.4 | 146.9 | ' | ' | ||
Inventories | 195.3 | 169.3 | ' | ' | ||
Deferred income taxes | 0 | 0 | ' | ' | ||
Other current assets | 25.7 | 26.3 | ' | ' | ||
Total current assets | 369.1 | 338.8 | ' | ' | ||
Intercompany debits | ' | 0 | ' | ' | ||
Property, plant and equipment | 132 | 127.4 | ' | ' | ||
Identifiable intangible assets | 551.3 | 579 | ' | ' | ||
Other noncurrent assets | 0.2 | 0.7 | ' | ' | ||
Equity Method Investment, Aggregate Cost | 39.2 | 37.9 | ' | ' | ||
Total assets | 1,091.80 | 1,083.80 | ' | ' | ||
Liabilities and equity: | ' | ' | ' | ' | ||
Accounts payable | 90 | 68.7 | ' | ' | ||
Other current liabilities | 46.6 | 49 | ' | ' | ||
Total current liabilities | 137.9 | 118.8 | ' | ' | ||
Long-term debt | 1.5 | 1.8 | ' | ' | ||
Deferred income taxes | 0 | 0 | ' | ' | ||
Other noncurrent liabilities | 7.5 | 7.6 | ' | ' | ||
Intercompany accounts | -789.7 | -928.4 | ' | ' | ||
Total liabilities | 936.6 | 1,056.60 | ' | ' | ||
Stockholders' equity | 155.2 | 27.2 | ' | ' | ||
Total liabilities and stockholders' equity | 1,091.80 | 1,083.80 | ' | ' | ||
Current portion of long-term debt | 1.3 | 1.1 | ' | ' | ||
Non-Guarantor Companies [Member] | ' | ' | ' | ' | ||
Assets: | ' | ' | ' | ' | ||
Cash and cash equivalents | 39.3 | 33.4 | 28.6 | 34.8 | ||
Receivables, net | 14 | 19.2 | ' | ' | ||
Inventories | 13.2 | 13.9 | ' | ' | ||
Deferred income taxes | 0.4 | 1.1 | ' | ' | ||
Other current assets | 2.2 | 1.2 | ' | ' | ||
Total current assets | 69.1 | 68.8 | ' | ' | ||
Intercompany debits | ' | 0 | ' | ' | ||
Property, plant and equipment | 8.4 | 8.7 | ' | ' | ||
Identifiable intangible assets | 1.8 | 1.5 | ' | ' | ||
Other noncurrent assets | 1.3 | 1.4 | ' | ' | ||
Equity Method Investment, Aggregate Cost | 0 | 0 | ' | ' | ||
Total assets | 80.6 | 80.4 | ' | ' | ||
Liabilities and equity: | ' | ' | ' | ' | ||
Accounts payable | 6.6 | 7.5 | ' | ' | ||
Other current liabilities | 4.3 | 3.9 | ' | ' | ||
Total current liabilities | 10.9 | 11.4 | ' | ' | ||
Long-term debt | 0 | 0 | ' | ' | ||
Deferred income taxes | 0.6 | 0.8 | ' | ' | ||
Other noncurrent liabilities | 0.8 | 2 | ' | ' | ||
Intercompany accounts | -29.1 | -28.3 | ' | ' | ||
Total liabilities | 41.4 | 42.5 | ' | ' | ||
Stockholders' equity | 39.2 | 37.9 | ' | ' | ||
Total liabilities and stockholders' equity | 80.6 | 80.4 | ' | ' | ||
Current portion of long-term debt | 0 | 0 | ' | ' | ||
Consolidation, Eliminations [Member] | ' | ' | ' | ' | ||
Assets: | ' | ' | ' | ' | ||
Cash and cash equivalents | 0 | 0 | 0 | 0 | ||
Receivables, net | 0 | 0 | ' | ' | ||
Inventories | 0 | 0 | ' | ' | ||
Deferred income taxes | 0 | 0 | ' | ' | ||
Other current assets | 0 | 0 | ' | ' | ||
Total current assets | 0 | 0 | ' | ' | ||
Intercompany debits | -882.7 | -956.7 | ' | ' | ||
Property, plant and equipment | 0 | 0 | ' | ' | ||
Identifiable intangible assets | 0 | 0 | ' | ' | ||
Other noncurrent assets | 0 | 0 | ' | ' | ||
Equity Method Investment, Aggregate Cost | -194.4 | -65.1 | ' | ' | ||
Total assets | -1,077.10 | -1,021.80 | ' | ' | ||
Liabilities and equity: | ' | ' | ' | ' | ||
Accounts payable | 0 | 0 | ' | ' | ||
Other current liabilities | 0 | 0 | ' | ' | ||
Total current liabilities | 0 | 0 | ' | ' | ||
Long-term debt | 0 | 0 | ' | ' | ||
Deferred income taxes | 0 | 0 | ' | ' | ||
Other noncurrent liabilities | 0 | 0 | ' | ' | ||
Intercompany accounts | 882.7 | 956.7 | ' | ' | ||
Total liabilities | -882.7 | -956.7 | ' | ' | ||
Stockholders' equity | -194.4 | -65.1 | ' | ' | ||
Total liabilities and stockholders' equity | -1,077.10 | -1,021.80 | ' | ' | ||
Current portion of long-term debt | $0 | $0 | ' | ' |
Consolidating_Guarantor_and_No4
Consolidating Guarantor and Non-Guarantor Financial Information (Schedule Of Consolidating Statement Of Operations and Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Net sales | $293.20 | $299.40 | $283.10 | $245.10 | $281.10 | $275.90 | $251.50 | $215.40 | $1,120.80 | $1,023.90 | $964.60 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 807.6 | 752.8 | 716.5 |
Gross profit | 88.8 | 90 | 77.3 | 57.1 | 76.6 | 79.6 | 62.1 | 52.8 | 313.2 | 271.1 | 248.1 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 214.4 | 204.2 | 191.8 |
Restructuring | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | 2.8 | 3.6 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 215.9 | 207 | 195.4 |
Operating income | 33.2 | 32.9 | 24.3 | 6.9 | 21.9 | 25.7 | 10.6 | 5.9 | 97.3 | 64.1 | 52.7 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 51.7 | 59.9 | 65.6 |
Loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 1.4 | 1.5 | 0 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 44.2 | 2.7 | -12.9 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -8.8 | -7.9 | 2.9 |
Equity in income (loss) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Income (loss) from continuing operations | 16.8 | 16 | 7.6 | -5 | 4.3 | 5.9 | -8.9 | -6.5 | 35.4 | -5.2 | -10 |
Income (loss) from discontinued operations, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 5.4 | -103.2 | -28.1 |
Net income (loss) | 13.5 | 14.1 | 6.2 | 7 | 3.5 | 9.8 | -109.8 | -11.9 | 40.8 | -108.4 | -38.1 |
Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -0.1 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0.1 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 34 | 30.6 | 31.1 |
Restructuring | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 1 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 34 | 30.6 | 32.1 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | -34 | -30.6 | -32 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 51.6 | 60 | 65.6 |
Loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 1.4 | 1.5 | ' |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -87 | -92.1 | -97.6 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 17.3 | 28.3 | 34.4 |
Equity in income (loss) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 105.1 | 58.6 | 53.2 |
Income (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 35.4 | -5.2 | -10 |
Income (loss) from discontinued operations, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 5.4 | -103.2 | -28.1 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 40.8 | -108.4 | -38.1 |
Guarantor Companies [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,005.90 | 907 | 844.9 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 708.6 | 652.1 | 613.8 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 297.3 | 254.9 | 231.1 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 168.2 | 160.2 | 147 |
Restructuring | ' | ' | ' | ' | ' | ' | ' | ' | 1.4 | 2.7 | 2.2 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 169.6 | 162.9 | 149.2 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 127.7 | 92 | 81.9 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | 0.2 | 0 |
Loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 127.4 | 91.8 | 81.9 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -25.5 | -35.6 | -30.6 |
Equity in income (loss) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 3.2 | 2.4 | 1.9 |
Income (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 105.1 | 58.6 | 53.2 |
Income (loss) from discontinued operations, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 105.1 | 58.6 | 53.2 |
Non-Guarantor Companies [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 114.9 | 116.9 | 119.7 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 99 | 100.7 | 102.8 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 15.9 | 16.2 | 16.9 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 12.2 | 13.4 | 13.7 |
Restructuring | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.1 | 0.4 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 12.3 | 13.5 | 14.1 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 3.6 | 2.7 | 2.8 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | -0.3 | 0 |
Loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 3.8 | 3 | 2.8 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -0.6 | -0.6 | -0.9 |
Equity in income (loss) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Income (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 3.2 | 2.4 | 1.9 |
Income (loss) from discontinued operations, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 3.2 | 2.4 | 1.9 |
Consolidation, Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Restructuring | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Equity in income (loss) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -108.3 | -61 | -55.1 |
Income (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | -108.3 | -61 | -55.1 |
Income (loss) from discontinued operations, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ($108.30) | ($61) | ($55.10) |
Consolidating_Guarantor_and_No5
Consolidating Guarantor and Non-Guarantor Financial Information (Schedule of Consolidating Statements of Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Net income (loss) | $13.50 | $14.10 | $6.20 | $7 | $3.50 | $9.80 | ($109.80) | ($11.90) | $40.80 | ($108.40) | ($38.10) |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum pension liability, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 61.5 | -39.4 | 12.2 |
Interest rate swap contracts, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | 4.9 |
Other Comprehensive Income (Loss) from Consolidated Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Foreign currency translation | ' | ' | ' | ' | ' | ' | ' | ' | -2.4 | 2.9 | -1.1 |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | 59.1 | -33.5 | 16 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | 99.9 | -141.9 | -22.1 |
Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 40.8 | -108.4 | -38.1 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum pension liability, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 61.5 | -39.4 | 12.2 |
Interest rate swap contracts, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | 4.9 |
Other Comprehensive Income (Loss) from Consolidated Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -2.4 | 2.9 | -1.1 |
Foreign currency translation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | 59.1 | -33.5 | 16 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | 99.9 | -141.9 | -22.1 |
Guarantor Companies [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 105.1 | 58.6 | 53.2 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum pension liability, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest rate swap contracts, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Other Comprehensive Income (Loss) from Consolidated Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -2.4 | 2.9 | -1.1 |
Foreign currency translation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | -2.4 | 2.9 | -1.1 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | 102.7 | 61.5 | 52.1 |
Non-Guarantor Companies [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 3.2 | 2.4 | 1.9 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum pension liability, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest rate swap contracts, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Other Comprehensive Income (Loss) from Consolidated Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Foreign currency translation | ' | ' | ' | ' | ' | ' | ' | ' | -2.4 | 2.9 | -1.1 |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | -2.4 | 2.9 | -1.1 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | 0.8 | 5.3 | 0.8 |
Consolidation, Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -108.3 | -61 | -55.1 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum pension liability, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest rate swap contracts, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Other Comprehensive Income (Loss) from Consolidated Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 4.8 | -5.8 | 2.2 |
Foreign currency translation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | 4.8 | -5.8 | 2.2 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | ($103.50) | ($66.80) | ($52.90) |
Consolidating_Guarantor_and_No6
Consolidating Guarantor and Non-Guarantor Financial Information (Schedule Of Consolidating Statement Of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Operating activities: | ' | ' | ' |
Net cash provided by (used in) operating activities | $114.10 | $76.80 | $52.10 |
Investing activities: | ' | ' | ' |
Capital expenditures | -35.6 | -31.4 | -23.1 |
Acquisitions, net of cash acquired | -1.1 | -1.3 | -9.2 |
Proceeds from sales of assets | 0.5 | 0.3 | 1.1 |
Net cash provided by (used in) investing activities | -36.2 | -32.4 | -31.2 |
Financing activities: | ' | ' | ' |
Debt paid or repurchased | 0 | -34 | -15 |
Early repayment of long-term debt | -23.2 | -23.2 | 0 |
Dividends paid | -11 | -11 | -10.9 |
Common stock issued | 3.1 | 0.7 | 1.3 |
Shares retained for employee taxes | -1.5 | -0.5 | -0.3 |
Payment of deferred financing fees | -0.7 | 0 | -0.4 |
Other | -2.4 | -0.1 | 2.4 |
Net cash used in financing activities | -35.7 | -68.1 | -22.9 |
Net cash flows from discontinued operations: | ' | ' | ' |
Operating activities | -4.9 | -43.3 | -12.2 |
Investing activities | 4.5 | 87.5 | -8.4 |
Net cash provided by (used in) discontinued operations | -0.4 | 44.2 | -20.6 |
Effect of currency exchange rate changes on cash | -1.2 | 1.5 | -0.4 |
Net change in cash and cash equivalents | 40.6 | 22 | -23 |
Cash and cash equivalents at beginning of period | 83 | 61 | 84 |
Cash and cash equivalents at end of period | 123.6 | 83 | 61 |
Issuer [Member] | ' | ' | ' |
Operating activities: | ' | ' | ' |
Net cash provided by (used in) operating activities | 67.2 | 40.9 | 31.6 |
Investing activities: | ' | ' | ' |
Capital expenditures | -0.2 | 0 | -0.8 |
Acquisitions, net of cash acquired | 0 | 0 | 0 |
Proceeds from sales of assets | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | -0.2 | 0 | -0.8 |
Financing activities: | ' | ' | ' |
Debt paid or repurchased | ' | -34 | -15 |
Early repayment of long-term debt | -23.2 | -23.2 | ' |
Dividends paid | -11 | -11 | -10.9 |
Common stock issued | 3.1 | 0.7 | 1.3 |
Shares retained for employee taxes | -1.5 | -0.5 | -0.3 |
Payment of deferred financing fees | -0.7 | ' | -0.4 |
Other | 0 | 0 | 0 |
Net cash used in financing activities | -33.3 | -68 | -25.3 |
Net cash flows from discontinued operations: | ' | ' | ' |
Operating activities | -4.9 | -43.3 | -12.2 |
Investing activities | 4.5 | 87.5 | -8.4 |
Net cash provided by (used in) discontinued operations | -0.4 | 44.2 | -20.6 |
Effect of currency exchange rate changes on cash | 0 | 0 | 0 |
Net change in cash and cash equivalents | 33.3 | 17.1 | -15.1 |
Cash and cash equivalents at beginning of period | 53.3 | 36.2 | 51.3 |
Cash and cash equivalents at end of period | 86.6 | 53.3 | 36.2 |
Guarantor Companies [Member] | ' | ' | ' |
Operating activities: | ' | ' | ' |
Net cash provided by (used in) operating activities | 37.9 | 32.2 | 17.9 |
Investing activities: | ' | ' | ' |
Capital expenditures | -33.5 | -30.5 | -21.8 |
Acquisitions, net of cash acquired | -1.1 | -1.8 | -1.3 |
Proceeds from sales of assets | 0.5 | 0.3 | 1.1 |
Net cash provided by (used in) investing activities | -34.1 | -32 | -22 |
Financing activities: | ' | ' | ' |
Debt paid or repurchased | ' | 0 | 0 |
Early repayment of long-term debt | 0 | 0 | ' |
Dividends paid | 0 | 0 | 0 |
Common stock issued | 0 | 0 | 0 |
Shares retained for employee taxes | 0 | 0 | 0 |
Payment of deferred financing fees | 0 | ' | 0 |
Other | -2.4 | -0.1 | 2.4 |
Net cash used in financing activities | -2.4 | -0.1 | 2.4 |
Net cash flows from discontinued operations: | ' | ' | ' |
Operating activities | 0 | 0 | 0 |
Investing activities | 0 | 0 | 0 |
Net cash provided by (used in) discontinued operations | 0 | 0 | 0 |
Effect of currency exchange rate changes on cash | 0 | 0 | 0 |
Net change in cash and cash equivalents | 1.4 | 0.1 | -1.7 |
Cash and cash equivalents at beginning of period | -3.7 | -3.8 | -2.1 |
Cash and cash equivalents at end of period | -2.3 | -3.7 | -3.8 |
Non-Guarantor Companies [Member] | ' | ' | ' |
Operating activities: | ' | ' | ' |
Net cash provided by (used in) operating activities | 9 | 3.7 | 2.6 |
Investing activities: | ' | ' | ' |
Capital expenditures | -1.9 | -0.9 | -0.5 |
Acquisitions, net of cash acquired | 0 | 0.5 | -7.9 |
Proceeds from sales of assets | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | -1.9 | -0.4 | -8.4 |
Financing activities: | ' | ' | ' |
Debt paid or repurchased | ' | 0 | 0 |
Early repayment of long-term debt | 0 | 0 | ' |
Dividends paid | 0 | 0 | 0 |
Common stock issued | 0 | 0 | 0 |
Shares retained for employee taxes | 0 | 0 | 0 |
Payment of deferred financing fees | 0 | ' | 0 |
Other | 0 | 0 | 0 |
Net cash used in financing activities | 0 | 0 | 0 |
Net cash flows from discontinued operations: | ' | ' | ' |
Operating activities | 0 | 0 | 0 |
Investing activities | 0 | 0 | 0 |
Net cash provided by (used in) discontinued operations | 0 | 0 | 0 |
Effect of currency exchange rate changes on cash | -1.2 | 1.5 | -0.4 |
Net change in cash and cash equivalents | 5.9 | 4.8 | -6.2 |
Cash and cash equivalents at beginning of period | 33.4 | 28.6 | 34.8 |
Cash and cash equivalents at end of period | 39.3 | 33.4 | 28.6 |
Consolidation, Eliminations [Member] | ' | ' | ' |
Operating activities: | ' | ' | ' |
Net cash provided by (used in) operating activities | 0 | 0 | 0 |
Investing activities: | ' | ' | ' |
Capital expenditures | 0 | 0 | 0 |
Acquisitions, net of cash acquired | 0 | 0 | 0 |
Proceeds from sales of assets | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | 0 | 0 | 0 |
Financing activities: | ' | ' | ' |
Debt paid or repurchased | ' | 0 | 0 |
Early repayment of long-term debt | 0 | 0 | ' |
Dividends paid | 0 | 0 | 0 |
Common stock issued | 0 | 0 | 0 |
Shares retained for employee taxes | 0 | 0 | 0 |
Payment of deferred financing fees | 0 | ' | 0 |
Other | 0 | 0 | 0 |
Net cash used in financing activities | 0 | 0 | 0 |
Net cash flows from discontinued operations: | ' | ' | ' |
Operating activities | 0 | 0 | 0 |
Investing activities | 0 | 0 | 0 |
Net cash provided by (used in) discontinued operations | 0 | 0 | 0 |
Effect of currency exchange rate changes on cash | 0 | 0 | 0 |
Net change in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 | 0 |
Cash and cash equivalents at end of period | $0 | $0 | $0 |