Mueller Water Products (MWA) 10-Q 8 Feb 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	3 Months Ended
	Dec. 31, 2016	Jan. 31, 2017	Mar. 31, 2016
Document And Entity Information [Abstract]
Document Fiscal Period Focus	Q1
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Entity Well-known Seasoned Issuer	No
Entity Registrant Name	Mueller Water Products, Inc.
Entity Central Index Key	1,350,593
Current Fiscal Year End Date	--09-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Amendment Flag	false
Entity Common Stock, Shares Outstanding		162,262,651
Entity Public Float			$ 1,575,896,511

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2016	Sep. 30, 2016
Assets:
Cash and cash equivalents	$ 172.3	$ 195
Receivables, net	104.2	131.8
Inventories	142.7	130.7
Other current assets	13.6	12.7
Current assets held for sale	233.9	142.1
Total current assets	666.7	612.3
Property, plant and equipment, net	106.8	108.4
Identifiable intangible assets	429.8	434.6
Other noncurrent assets	25.1	25.4
Noncurrent assets held for sale	0	99.9
Total assets	1,228.4	1,280.6
Liabilities and stockholders' equity:
Current portion of long-term debt	5.6	5.6
Accounts payable	45.4	73.7
Other current liabilities	40.2	61.7
Current liabilities held for sale	44.5	44.8
Total current liabilities	135.7	185.8
Long-term debt	478	478.8
Deferred income taxes	111.4	109.9
Other noncurrent liabilities	80	85.8
Noncurrent liabilities held for sale	0	0.8
Total liabilities	805.1	861.1
Common Stock	1.6	1.6
Additional paid-in capital	1,559	1,563.9
Accumulated deficit	(1,072.2)	(1,078.9)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(66.3)	(68.3)
Total stockholders' equity	422.1	418.3
Noncontrolling interest	1.2	1.2
Total equity	423.3	419.5
Total liabilities and stockholders' equity	$ 1,228.4	$ 1,280.6

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Dec. 31, 2015	Sep. 30, 2014
Statement of Financial Position [Abstract]
Series A common stock, shares authorized	600,000,000	600,000,000
Series A common stock, shares outstanding	0	161,693,051

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net sales	$ 167.2	$ 163.1
Cost of sales	115.5	115.5
Gross profit	51.7	47.6
Operating expenses:
Selling, general and administrative	36.5	35.4
Restructuring	1.3	0.8
Total operating expenses	37.8	36.2
Operating income	13.9	11.4
Interest expense, net	6.4	6.1
Income (loss) before income taxes	7.5	5.3
Income tax expense (benefit)	2.1	1.3
Income (loss) from continuing operations	5.4	4
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	1.3	2.2
Net Income (Loss) Attributable to Parent	$ 6.7	$ 6.2
Continuing operations	$ 0.03	$ 0.02
Discontinued operations	0.01	0.02
Net loss per basic share:
Net income (loss) per basic share	0.04	0.04
Continuing operations	0.03	0.02
Discontinued operations	0.01	0.02
Net loss per diluted share:
Net income (loss) per diluted share	$ 0.04	$ 0.04
Weighted average shares outstanding:
Basic, in shares	161.8	160.8
Diluted, in shares	164.6	163.2
Dividends declared per share, in dollars per share	$ 0.03	$ 0.02

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income Statement - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net Income (Loss) Attributable to Parent	$ 6.7	$ 6.2
Other comprehensive income (loss):
Minimum pension liability	1	(4.2)
Income tax effects	(0.4)	1.6
Foreign currency translation	(1.5)	(1.5)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax	4.7	0.7
Income tax effects	(1.8)	(0.3)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	2	(3.7)
Other Comprehensive Income (Loss), Net of Tax	2
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 8.7	$ 2.5

Consolidated Statement Of Stock

Consolidated Statement Of Stockholders' Equity - 3 months ended Dec. 31, 2016 - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive income (loss)	Noncontrolling Interest [Member]
Balance at Sep. 30, 2016	$ 419.5	$ 1.6	$ 1,563.9	$ (1,078.9)	$ (68.3)	$ 1.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(4.8)	0	(4.8)	0	0	0
Stock-based compensation	2	0	2	0	0	0
Shares retained for employee taxes	(2.5)	0		0	0	0
Stock issued under stock compensation plans	0.4	0	0.4	0	0	0
Other Comprehensive Income (Loss), Net of Tax	2	0	0	0	2	0
Net Income (Loss) Attributable to Parent	6.7	0	0		0
Net Income (Loss) Attributable to Noncontrolling Interest						0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	6.7
Balance at Dec. 31, 2016	$ 423.3	$ 1.6	$ 1,559	$ (1,072.2)	$ (66.3)	$ 1.2

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net Income (Loss) Attributable to Parent	$ 6.7	$ 6.2
Less: income (loss) from discontinued operations	(1.3)	(2.2)
Income (loss) from continuing operations	5.4	4
Adjustments to reconcile net income (loss) to income (loss) from continuing operations:
Depreciation	4.9	4.4
Amortization	5.4	5.2
Stock-based compensation expense	1.8	1.1
Deferred income taxes	(2.1)	(0.2)
Retirement plans	0.8	1.2
Other, net	0.3	0.6
Changes in assets and liabilities, net of acquisitions:
Receivables	27.4	21.9
Inventories	(12.2)	(8.1)
Other current assets and other noncurrent assets	(0.8)	(2.1)
Accounts payable and other liabilities	(50.8)	(36.3)
Net cash provided by (used in) operating activities	(19.9)	(8.3)
Investing activities:
Capital expenditures	(4.2)	(4.7)
Net cash provided by (used in) investing activities	(4.2)	(4.7)
Repayments of debt	1.3	1.3
Financing activities:
Dividends paid	(4.8)	(3.2)
Excess tax benefit on stock option exercises	0	0.7
Common stock issued	0.4	0.4
Shares retained for employee taxes	(2.5)	(2.9)
Other	0.1	2.1
Net cash used in financing activities	(8.1)	(4.2)
Operating activities	12.4	10.8
Investing activities	(2.1)	(1.6)
Financing activities	(0.1)	0.1
Net cash provided by (used in) discontinued operations	10.2	9.3
Effect of currency exchange rate changes on cash	(0.7)	(0.7)
Net Cash Provided by (Used in) Discontinued Operations [Abstract]
Net change in cash and cash equivalents	(22.7)	(8.6)
Cash and cash equivalents at beginning of period	195	113.1
Cash and cash equivalents at end of period	$ 172.3	$ 104.5

Organization

Organization	3 Months Ended
	Dec. 31, 2016
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 Mueller Technologies. Mueller Co. manufactures valves for water and gas systems, including butterfly, iron gate, tapping, check, knife, plug and ball valves, as well as dry-barrel and wet-barrel fire hydrants. Mueller Technologies offers metering systems, leak detection, pipe condition assessment and other related products and services. 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 January 6, 2017, we sold our former Anvil segment. Anvil's results of operations have been reclassified as discontinued operations, and its assets and liabilities reclassified as held for sale, for all periods presented. Mueller Co. owns a 49% ownership interest in an industrial valve joint venture. Due to substantive control features in the operating agreement, all of the joint venture's assets, liabilities and results of operations are included in our consolidated financial statements. The net loss attributable to noncontrolling interest is included in selling, general and administrative expenses. Noncontrolling interest is recorded at its carrying value, which approximates fair value. 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. 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. In our opinion, all normal and recurring adjustments that we consider necessary for a fair financial statement presentation have been made. Certain reclassifications have been made to previously reported amounts to conform to the current presentation. The condensed consolidated balance sheet data at September 30, 2016 was derived from audited financial statements, but does not include all disclosures required by GAAP.

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes At December 31, 2016 and September 30, 2016, the gross liabilities for unrecognized income tax benefits were $2.8 million and $2.8 million , respectively. The reconciliation between the U.S. federal statutory income tax rate and the effective tax rate is presented below. Three months ended December 31, 2016 2015 U.S. federal statutory income tax rate 35.0 % 35.0 % Adjustments to reconcile to the effective tax rate: State income taxes, net of federal benefit 3.9 4.3 Tax benefits from stock compensation (7.6 ) — U.S. manufacturing deduction (3.3 ) (3.2 ) Tax credits (0.8 ) (11.2 ) Other 0.8 (0.4 ) Effective income tax rate 28.0 % 24.5 %
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The reconciliation between the U.S. federal statutory income tax rate and the effective tax rate is presented below. Three months ended December 31, 2016 2015 U.S. federal statutory income tax rate 35.0 % 35.0 % Adjustments to reconcile to the effective tax rate: State income taxes, net of federal benefit 3.9 4.3 Tax benefits from stock compensation (7.6 ) — U.S. manufacturing deduction (3.3 ) (3.2 ) Tax credits (0.8 ) (11.2 ) Other 0.8 (0.4 ) Effective income tax rate 28.0 % 24.5 %

Borrowing Arrangements

Borrowing Arrangements	3 Months Ended
	Dec. 31, 2015
Long-term Debt and Capital Lease Obligations [Abstract]
Borrowing Arrangements	Borrowing Arrangements The components of our long-term debt are presented below. December 31, September 30, 2016 2016 (in millions) ABL Agreement $ — $ — Term Loan 488.3 489.4 Other 1.3 1.3 489.6 490.7 Less deferred financing costs 6.0 6.3 Less current portion 5.6 5.6 Long-term debt $ 478.0 $ 478.8 ABL Agreement . At December 31, 2016 , 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 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 125 to 150 basis points, or a base rate, as defined in the ABL Agreement, plus a margin ranging from 25 to 50 basis points. At December 31, 2016 , the applicable rate was LIBOR plus 125 basis points. The ABL Agreement terminates on July 13, 2021 . We pay a commitment fee for any unused borrowing capacity under the ABL Agreement of 25 basis points per annum. Our obligations under the ABL Agreement are secured by a first-priority perfected lien on all of our U.S. receivables and inventories, certain cash and other supporting obligations. Borrowings are not subject to any financial maintenance covenants unless excess availability is less than the greater of $17.5 million and 10% of the Loan Cap as defined in the ABL Agreement. Excess availability based on December 31, 2016 data, excluding Anvil and as reduced by outstanding letters of credit, swap contract liabilities and accrued fees and expenses of $25.2 million , was $91.5 million . Term Loan . On November 25, 2014 , we entered into a $500.0 million senior secured term loan (“Term Loan”). The proceeds from the Term Loan, along with other cash, were used to prepay our 7.375% Senior Subordinated Notes and 8.75% Senior Unsecured Notes and to satisfy and discharge our obligations under the respective indentures. The Term Loan accrues interest at a floating rate equal to LIBOR, subject to a floor of 0.75% , plus 325 basis points. At December 31, 2016 , the weighted-average effective interest rate was 4.88% . We may voluntarily repay amounts borrowed under the Term Loan at any time. The principal amount of the Term Loan is required to be repaid in quarterly installments of $1.25 million , with any remaining principal due on November 25, 2021 . The Term Loan is guaranteed by substantially all of our U.S. subsidiaries and is secured by essentially all of our assets, although the ABL Agreement has a senior claim on certain collateral securing borrowings thereunder. The Term Loan is reported net of unamortized discount, which was $1.7 million at December 31, 2016. Based on quoted market prices, the outstanding Term Loan had a fair value of $496.1 million at December 31, 2016 . The Term Loan contains affirmative and negative operating covenants applicable to us and our restricted subsidiaries. We believe we were compliant with these covenants at December 31, 2016 and expect to remain in compliance through December 31, 2017 .

Derivative Financial Instrument

Derivative Financial Instruments (Notes)	3 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Derivative Financial Instruments We are exposed to interest rate risk that we manage to some extent using derivative instruments. Under our April 2015 interest rate swap contracts, we receive interest calculated using 3-month LIBOR, subject to a floor of 0.75% , and pay fixed interest at 2.341% , on an aggregate notional amount of $150.0 million . These swap contracts effectively fix the cash interest rate on $150.0 million of our borrowings under the Term Loan at 5.591% from September 30, 2016 through September 30, 2021 . We have designated our interest rate swap contracts as cash flow hedges of our future interest payments and elected to apply the “shortcut” method of assessing hedge effectiveness. As a result, the gains and losses on the swap contracts are reported as a component of other comprehensive loss and are reclassified into interest expense as the related interest payments are made. During the quarter ended December 31, 2016, we included $0.6 million of such interest expense in income from continuing operations. The fair values of the swap contracts are presented below. December 31, September 30, 2016 2016 (in millions) Other current liabilities $ 1.9 $ 2.0 Other noncurrent liabilities 0.7 5.3 $ 2.6 $ 7.3 The fair values and the classification of the fair values between current and noncurrent portions are based on calculated cash flows using publicly available interest rate forward rate yield curve information, but amounts due at the actual settlement dates are dependent on actual rates in effect at the settlement dates and may differ significantly from amounts shown above.

Retirement Plans

Retirement Plans	3 Months Ended
	Dec. 31, 2015
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Retirement Plans	Retirement Plans The components of net periodic benefit cost for our pension plans are presented below. Three months ended December 31, 2016 2015 (in millions) Service cost $ 0.5 $ 0.4 Interest cost 3.6 5.1 Expected return on plan assets (4.3 ) (5.1 ) Amortization of actuarial net loss 1.0 0.8 Net periodic benefit cost $ 0.8 $ 1.2 The amortization of actuarial losses, net of tax, is recorded as a component of other comprehensive loss.

Stock-based Compensation Plans

Stock-based Compensation Plans	3 Months Ended
	Dec. 31, 2015
Share-based Compensation [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Stock-based Compensation Plans We have granted various forms of stock-based compensation, including stock options, restricted stock units and both cash-settled and stock-settled performance-based restricted stock units (“PRSUs”) under our Amended and Restated 2006 Mueller Water Products, Inc. Stock Incentive Plan (the “2006 Stock Plan”). A PRSU award represents a target number of units that may be paid out at the end of a multi-year award cycle consisting of a series of annual performance periods coinciding with our fiscal years. After we determine the financial performance targets related to PRSUs for a given performance period, typically during the first quarter of that fiscal year, we consider that portion of a PRSU award to be granted. Thus, each award consists of a grant in the year of award and grants in the designated following years. Settlement will range from zero to two times the number of PRSUs granted, depending on our financial performance against the targets. As determined at the date of award, PRSUs may settle in cash-value equivalent of, or directly in, shares of our common stock. The stock-settled PRSUs awarded in 2014 settled in the quarter ended December 31, 2016 with an issuance of 263,410 shares of our common stock. This settlement reflected payouts of 1.021 times target for the 2016 performance period, zero times target for the 2015 performance period and two times target for the 2014 performance period. We awarded 177,861 stock-settled PRSUs in the quarter ended December 31, 2016 that will settle in three years. In addition to the PRSU activity, 255,414 restricted stock units vested during the quarter ended December 31, 2016. We have granted cash-settled Phantom Plan instruments under the Mueller Water Products, Inc. Phantom Plan (“Phantom Plan”). At December 31, 2016 , the outstanding Phantom Plan instruments had a fair value of $13.31 per instrument and our liability for Phantom Plan instruments was $1.5 million . We granted stock-based compensation awards under the 2006 Stock Plan, the Mueller Water Products, Inc. 2006 Employee Stock Purchase Plan and the Phantom Plan during the three months ended December 31, 2016 as follows. Number granted Weighted average grant date fair value per instrument Total grant date fair value (in millions) Restricted stock units 177,861 $ 13.26 $ 2.4 Employee stock purchase plan instruments 39,231 2.34 0.1 Phantom Plan awards 187,115 13.26 2.5 PRSUs: 2017 award 59,285 13.26 0.8 2016 award 73,826 13.26 1.0 2015 award 68,556 13.26 0.9 $ 7.7 Income from continuing operations included stock-based compensation expense of $2.7 million and $1.9 million during the three months ended December 31, 2016 and 2015 , respectively. At December 31, 2016 , there was approximately $13.6 million of unrecognized compensation expense related to stock-based compensation arrangements, and 192,402 PRSUs that have been awarded for the 2018 and 2019 performance periods, for which performance goals have not been set. We excluded 323,010 and 1,042,254 of stock-based compensation instruments from the calculations of diluted earnings per share for the quarters ended December 31, 2016 and 2015 , respectively, since their inclusion would have been antidilutive.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Dec. 31, 2015
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Information	Selected supplemental balance sheet information is presented below. December 31, September 30, 2016 2016 (in millions) Inventories: Purchased components and raw material $ 65.3 $ 67.0 Work in process 38.0 31.4 Finished goods 39.4 32.3 $ 142.7 $ 130.7 Property, plant and equipment: Land $ 5.7 $ 5.7 Buildings 50.9 50.6 Machinery and equipment 250.9 248.3 Construction in progress 14.6 14.8 322.1 319.4 Accumulated depreciation (215.3 ) (211.0 ) $ 106.8 $ 108.4 Other current liabilities: Compensation and benefits $ 18.7 $ 32.7 Customer rebates 7.0 8.3 Taxes other than income taxes 2.5 3.0 Warranty 2.1 2.0 Income taxes 2.7 4.6 Environmental 4.1 5.0 Interest 0.6 0.5 Other 2.5 5.6 $ 40.2 $ 61.7

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Dec. 31, 2015
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. Minimum pension liability, net of tax Foreign currency translation Derivative instruments, net of tax Total Balance at September 30, 2016 $ (57.7 ) $ (6.1 ) $ (4.5 ) $ (68.3 ) Current period other comprehensive income (loss) 0.6 (1.5 ) 2.9 2.0 Balance at December 31, 2016 $ (57.1 ) $ (7.6 ) $ (1.6 ) $ (66.3 ) Accumulated other comprehensive loss is presented below. Minimum pension liability, net of tax Foreign currency translation Derivative instruments, net of tax Total Balance at September 30, 2016 $ (57.7 ) $ (6.1 ) $ (4.5 ) $ (68.3 ) Current period other comprehensive income (loss) 0.6 (1.5 ) 2.9 2.0 Balance at December 31, 2016 $ (57.1 ) $ (7.6 ) $ (1.6 ) $ (66.3 )

Segment Information

Segment Information	3 Months Ended
	Dec. 31, 2015
Segment Reporting, Measurement Disclosures [Abstract]
Segment Reporting Disclosure [Text Block]	Segment Information Summarized financial information for our segments is presented below. Three months ended December 31, 2016 2015 (in millions) Net sales, excluding intercompany: Mueller Co. $ 146.3 $ 144.7 Mueller Technologies 20.9 18.4 $ 167.2 $ 163.1 Intercompany sales: Mueller Co. $ 1.1 $ 1.6 Mueller Technologies — — $ 1.1 $ 1.6 Operating income (loss): Mueller Co. $ 26.1 $ 23.8 Mueller Technologies (2.2 ) (3.8 ) Corporate (10.0 ) (8.6 ) $ 13.9 $ 11.4 Depreciation and amortization: Mueller Co. $ 9.0 $ 8.4 Mueller Technologies 1.2 1.1 Corporate 0.1 0.1 $ 10.3 $ 9.6 Other charges: Mueller Co. $ 0.1 $ 0.2 Mueller Technologies — 0.5 Corporate 1.2 0.1 $ 1.3 $ 0.8 Capital expenditures: Mueller Co. $ 3.0 $ 3.6 Mueller Technologies 1.1 1.0 Corporate 0.1 0.1 $ 4.2 $ 4.7

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2015
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 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 businesses to a previous owner 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 when we sold 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. The purchaser of U.S. Pipe has been identified as a “potentially responsible party” (“PRP”) under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA” which is sometimes referred to as “Superfund”) in connection with a former manufacturing facility operated by U.S. Pipe that was in the vicinity of a proposed Superfund site located in North Birmingham, Alabama. Under the terms of the acquisition agreement relating to our sale of U.S. Pipe, we agreed to indemnify the purchaser for certain environmental liabilities, including those arising out of the former manufacturing site located in North Birmingham. Accordingly, the purchaser tendered the matter to us for indemnification, which we accepted. Ultimate liability for the site will depend on many factors that have not yet been determined, including the determination of whether the site will be added to the National Priorities List and designated as a “Superfund site,” EPA’s remediation costs, the number and financial viability of the other PRPs (there are four other PRPs currently) and the determination of the final allocation of the costs among the PRPs, if any. Accordingly, because the amount of such costs cannot be reasonably estimated at this time, no amounts were accrued for this matter at December 31, 2016 . Walter Energy . Each member of the Walter Energy consolidated group, which included us (including our subsidiaries) through December 14, 2006, is jointly and 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. Accordingly, we could be liable in the event any such federal income tax 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. 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 an income tax allocation agreement between us and Walter Energy, dated May 26, 2006, we generally computed 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 tax returns, to file all such tax returns on our behalf and to determine the amount of our liability to (or entitlement to payment from) Walter Energy for such previous periods. According to Walter Energy's quarterly report on Form 10-Q filed with the SEC on November 5, 2015 (“Walter November 2015 Filing”), a dispute exists with the IRS with regard to federal income taxes for years 1980 to 1994 and 1999 to 2001 allegedly owed by the Walter Energy consolidated group, which included U.S. Pipe during these periods. As a matter of law, we are jointly and severally liable for any final tax determination, which means we would be liable in the event Walter Energy is unable to pay any amounts owed. According to the Walter November 2015 Filing, at September 30, 2015, Walter Energy had $33.0 million of accruals for unrecognized tax benefits on the matters subject to disposition. In the Walter November 2015 Filing, Walter Energy stated it believed it had sufficient accruals to address any claims, including interest and penalties, and did not believe that any potential difference between any final settlements and amounts accrued would have a material effect on Walter Energy's financial position, but such potential difference could be material to its results of operations in a future reporting period. In July 2015, Walter Energy filed a petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code before the Bankruptcy Court for the Northern District of Alabama (“Chapter 11 Case”). We have been monitoring the progress of the Chapter 11 Case to determine whether we could be liable for all or a portion of this federal income tax liability if it is incurred, and not discharged, for any period during which we were included in the Walter Energy consolidated group. On January 11, 2016, the IRS filed a proof of claim (“Proof of Claim”) in the Chapter 11 Case, alleging that Walter Energy owes amounts for prior taxable periods (specifically, 1983-1994, 2000-2002 and 2005) in an aggregate amount of $554.3 million ( $229.1 million of which the IRS claims is entitled to priority status in the Chapter 11 Case). The IRS asserts that its claim is based on an alleged settlement of Walter Energy’s tax liability for the 1983-1995 taxable periods in connection with Walter Energy’s prior bankruptcy proceeding in the United States Bankruptcy Court for the Middle District of Florida. In the Proof of Claim, the IRS included an alternative calculation in the event the alleged settlement of the prior bankruptcy court is found to be non-binding, which provides for a claim by the IRS in an aggregate amount of $860.4 million ( $535.3 million of which the IRS claims is entitled to priority status in the Chapter 11 Case). According to a current report of Form 8-K filed by Walter Energy with the SEC on April 1, 2016 (“Walter April 2016 Filing”), on March 31, 2016, Walter Energy closed on the sale of substantially all of Walter Energy's Alabama assets pursuant to the provisions of Sections 105, 363 and 365 of the U.S. Bankruptcy Code. The Walter April 2016 Filing further stated that Walter Energy would have no further material business operations after April 1, 2016 and Walter Energy was evaluating its options with respect to the wind-down of its remaining assets. The asset sale did not impact the Proof of Claim, and the Proof of Claim and the alleged tax liability thereunder remain unresolved. On February 2, 2017, at the request of Walter Energy, the Bankruptcy Court for the Norther District of Alabama signed an order converting the Chapter 11 Case to a liquidation proceeding under Chapter 7 of the U.S. Bankruptcy Code, pursuant to which Walter Energy will be wound-down and liquidated (“Chapter 7 Case”). In its objection contesting such conversion, the IRS indicated its intent to pursue collection of amounts included in the Proof of Claim from former members of the Walter Energy consolidated group. We cannot predict whether or to what extent we may become liable for the tax-related amounts of the Walter Energy consolidated group asserted in the Proof of Claim, in part, because: (i) the amounts owed by the Walter Energy consolidated group for certain of the taxable periods from 1980 through 2006 remain unresolved and (ii) it is unclear what priority, if any, the IRS will receive in the Chapter 7 Case with respect to its claims against Walter Energy. We intend to vigorously assert any and all available defenses against any liability we may have as a member of the Walter Energy consolidated group. However, we cannot currently estimate our liability, if any, relating to the tax-related liabilities of Walter Energy’s consolidated tax group for tax years prior to 2007, and such liability could have a material adverse effect on our business, financial condition, liquidity or results of operations. 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 former 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, tax 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. At September 30, 2016, Anvil was in a dispute with Victaulic Company (“Victaulic”) regarding two patents held by Victaulic, U.S. Patent 7,086,131 (the “131 Patent”) and U.S. Patent 7,712,796 (the “796 Patent” and collectively with the 131 Patent, the “U.S. Patents”), which Anvil believed were invalid. The U.S. Patents potentially related to a coupling product currently manufactured and marketed by Anvil. During the course of this dispute, Anvil filed multiple reexamination requests with the U.S. Patent and Trademark Office (the “PTO”) regarding the U.S. Patents, and the PTO granted the requests. Although the PTO examiner initially invalidated most of the claims of the 796 Patent, the PTO examiner affirmed the validity of the 796 Patent in September 2014. In April 2015, the PTO examiner invalidated the original claim of the 131 Patent but found several claims added during reexamination that appear substantially similar to those included in the 796 Patent patentable. The PTO examiners’ decisions with respect to the U.S. Patents were appealed to the Patent Trial and Appeal Board by Anvil and Victaulic. In July 2016, the Patent Trial and Appeal Board rejected as unpatentable all claims of the 131 Patent. Relatedly, at September 30, 2016, Anvil and Victaulic were also engaged in lawsuits with respect to these patent matters in the U.S. District Court for the Northern District of Georgia and in the Federal Court of Toronto, Ontario, Canada. In October 2016, we entered into a settlement and license agreement with Victaulic, which amicably resolved all of these lawsuits and patent 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.

Subsequent Events

Subsequent Events	3 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On January 5, 2017 , our board of directors declared a dividend of $0.04 per share on our common stock, payable on or about February 21, 2017 to stockholders of record at the close of business on February 10, 2017 . On January 6, 2017 , we sold our former Anvil segment, as discussed in Note 2. On January 30, 2017 , we signed an agreement to acquire Singer Valve, a manufacturer of automatic control valves. The transaction is expected to close during our second quarter for a cash purchase price of approximately $26 million . Singer had net sales of approximately $15 million in calendar 2016 and will be included in our Mueller Co. segment. On February 6, 2017 , we entered into an accelerated share repurchase agreement with Bank of America, N.A. (“Bank of America”) to repurchase $50 million of our outstanding common stock. On February 7, 2017, we paid $50 million to Bank of America, for which we received an initial delivery of approximately 2.9 million shares of our common stock. The total number of shares out common stock repurchased pursuant to the agreement will be based generally on the average of the daily volume-weighted average prices of our common stock, less a fixed discount, over the term of the agreement. At final settlement, Bank of America may be required to deliver additional shares of common stock, or under certain circumstances, we may be required to deliver shares of common stock or to make a cash payment, at our election, to Bank of America. The terms of the accelerated share repurchase agreement are subject to certain customary adjustments.

Income Taxes Rate Reconciliatio

Income Taxes Rate Reconciliation (Tables)	3 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The reconciliation between the U.S. federal statutory income tax rate and the effective tax rate is presented below. Three months ended December 31, 2016 2015 U.S. federal statutory income tax rate 35.0 % 35.0 % Adjustments to reconcile to the effective tax rate: State income taxes, net of federal benefit 3.9 4.3 Tax benefits from stock compensation (7.6 ) — U.S. manufacturing deduction (3.3 ) (3.2 ) Tax credits (0.8 ) (11.2 ) Other 0.8 (0.4 ) Effective income tax rate 28.0 % 24.5 %

Borrowing Arrangements (Tables)

Borrowing Arrangements (Tables)	3 Months Ended
	Dec. 31, 2015
Long-term Debt and Capital Lease Obligations [Abstract]
Components of Long-Term Debt	The components of our long-term debt are presented below. December 31, September 30, 2016 2016 (in millions) ABL Agreement $ — $ — Term Loan 488.3 489.4 Other 1.3 1.3 489.6 490.7 Less deferred financing costs 6.0 6.3 Less current portion 5.6 5.6 Long-term debt $ 478.0 $ 478.8

Derivative Financial Instrume21

Derivative Financial Instruments (Tables)	3 Months Ended
	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The fair values of the swap contracts are presented below. December 31, September 30, 2016 2016 (in millions) Other current liabilities $ 1.9 $ 2.0 Other noncurrent liabilities 0.7 5.3 $ 2.6 $ 7.3

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Dec. 31, 2015
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Schedule of Net Periodic Benefit Cost	The components of net periodic benefit cost for our pension plans are presented below. Three months ended December 31, 2016 2015 (in millions) Service cost $ 0.5 $ 0.4 Interest cost 3.6 5.1 Expected return on plan assets (4.3 ) (5.1 ) Amortization of actuarial net loss 1.0 0.8 Net periodic benefit cost $ 0.8 $ 1.2

Stock-based Compensation Plans

Stock-based Compensation Plans (Tables)	3 Months Ended
	Dec. 31, 2015
Share-based Compensation [Abstract]
Schedule of Share-based Compensation, Activity [Table Text Block]	Number granted Weighted average grant date fair value per instrument Total grant date fair value (in millions) Restricted stock units 177,861 $ 13.26 $ 2.4 Employee stock purchase plan instruments 39,231 2.34 0.1 Phantom Plan awards 187,115 13.26 2.5 PRSUs: 2017 award 59,285 13.26 0.8 2016 award 73,826 13.26 1.0 2015 award 68,556 13.26 0.9 $ 7.7

Supplemental Balance Sheet In24

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Dec. 31, 2015
Balance Sheet Related Disclosures [Abstract]
Schedule Of Selected Supplemental Balance Sheet Information [Table Text Block]	ental balance sheet information is presented below. December 31, September 30, 2016 2016 (in millions) Inventories: Purchased components and raw material $ 65.3 $ 67.0 Work in process 38.0 31.4 Finished goods 39.4 32.3 $ 142.7 $ 130.7 Property, plant and equipment: Land $ 5.7 $ 5.7 Buildings 50.9 50.6 Machinery and equipment 250.9 248.3 Construction in progress 14.6 14.8 322.1 319.4 Accumulated depreciation (215.3 ) (211.0 ) $ 106.8 $ 108.4 Other current liabilities: Compensation and benefits $ 18.7 $ 32.7 Customer rebates 7.0 8.3 Taxes other than income taxes 2.5 3.0 Warranty 2.1 2.0 Income taxes 2.7 4.6 Environmental 4.1 5.0 Interest 0.6 0.5 Other 2.5 5.6 $ 40.2 $ 61.7

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule Of Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss is presented below. Minimum pension liability, net of tax Foreign currency translation Derivative instruments, net of tax Total Balance at September 30, 2016 $ (57.7 ) $ (6.1 ) $ (4.5 ) $ (68.3 ) Current period other comprehensive income (loss) 0.6 (1.5 ) 2.9 2.0 Balance at December 31, 2016 $ (57.1 ) $ (7.6 ) $ (1.6 ) $ (66.3 ) Accumulated other comprehensive loss is presented below. Minimum pension liability, net of tax Foreign currency translation Derivative instruments, net of tax Total Balance at September 30, 2016 $ (57.7 ) $ (6.1 ) $ (4.5 ) $ (68.3 ) Current period other comprehensive income (loss) 0.6 (1.5 ) 2.9 2.0 Balance at December 31, 2016 $ (57.1 ) $ (7.6 ) $ (1.6 ) $ (66.3 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Dec. 31, 2015
Segment Reporting, Measurement Disclosures [Abstract]
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
Schedule Of Selected Supplemental Balance Sheet Information	Summarized financial information for our segments is presented below. Three months ended December 31, 2016 2015 (in millions) Net sales, excluding intercompany: Mueller Co. $ 146.3 $ 144.7 Mueller Technologies 20.9 18.4 $ 167.2 $ 163.1 Intercompany sales: Mueller Co. $ 1.1 $ 1.6 Mueller Technologies — — $ 1.1 $ 1.6 Operating income (loss): Mueller Co. $ 26.1 $ 23.8 Mueller Technologies (2.2 ) (3.8 ) Corporate (10.0 ) (8.6 ) $ 13.9 $ 11.4 Depreciation and amortization: Mueller Co. $ 9.0 $ 8.4 Mueller Technologies 1.2 1.1 Corporate 0.1 0.1 $ 10.3 $ 9.6 Other charges: Mueller Co. $ 0.1 $ 0.2 Mueller Technologies — 0.5 Corporate 1.2 0.1 $ 1.3 $ 0.8 Capital expenditures: Mueller Co. $ 3.0 $ 3.6 Mueller Technologies 1.1 1.0 Corporate 0.1 0.1 $ 4.2 $ 4.7

Organization (Details)

Organization (Details)	Jul. 31, 2014	Dec. 31, 2015
Segment Reporting Information [Line Items]
Number of Reportable Segments		2
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	49.00%

Discontinued Operations, Assets

Discontinued Operations, Assets Held for Sale and Divestitures (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 06, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring		$ 1.3	$ 0.8
Net sales		167.2	$ 163.1
Discontinued Operations, Receivable from Buyer of Discontinued Operation		$ 1.8
Subsequent Event [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Jan. 6, 2017
Disposal Group, including Discontinued Operations, Amount in Contract				$ 315
Disposal Group, Including Discontinued Operation, Consideration				$ 306.9
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax	$ 110

Discontinued Operations, Asse29

Discontinued Operations, Assets Held for Sale and Divestitures (Schedule of Disposal Groups, Including Discontinued Operations - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 83.1	$ 79.6
Receivables, net	52.2		$ 54.9
Inventories	77.5		83.1
Other current assets	4.8		4.1
Current assets held for sale	233.9		142.1
Property, plant and equipment, net	45.3		46.7
Intangible assets	50.6		51.4
Other noncurrent assets	3.5		1.8
Noncurrent assets held for sale	0		99.9
Current portion of long-term debt	0.3		0.3
Accounts payable	20.7		27.1
Other current liabilities	22.8		17.4
Long-term debt	0.3		0.4
Long-term debt	0.4		0.4
Cost of sales	62.8	58.5
Gross profit	20.3	21.1
Selling, general and administrative	18.3	17.5
Other charges	0.2	0.1
Operating income	1.8	3.5
Income tax expense	0.5	1.3
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	1.3	$ 2.2
Net deferred tax liability associated with discontinued operations	$ 14.7		$ 13

Income Taxes Income Tax Rate Re

Income Taxes Income Tax Rate Reconciliation (Details)	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal statutory income tax rate	35.00%	35.00%
Adjustments to reconcile to the effective tax rate:
State income taxes, net of federal benefit	3.90%	4.30%
Tax benefits from stock compensation	7.60%	0.00%
U.S. manufacturing deduction	3.30%	3.20%
Tax credits	0.80%	11.20%
Other	(0.80%)	(0.40%)
Effective income tax rate	28.00%	24.50%

Borrowing Arrangements (Narrati

Borrowing Arrangements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Cash and cash equivalents	$ 172,300	$ 195,000	$ 104,500	$ 113,100
Future maturities of outstanding borrowings
Debt Instrument, Unamortized Discount	1,700
Domestic Line of Credit [Member]
Revolving credit facility amount	(225,000)
Potential increase size of the credit facility by an additional amount	$ 150,000
Line of Credit Facility, Interest Rate at Period End	12500.00%
Agreement termination date	Jul. 13, 2021
Aggregate commitments availability	$ 17,500
Aggregate commitments availability, percentage	10.00%
Outstanding letter of credit accrued fees and expenses	$ 25,200
Excess availability reduced by outstanding borrowings, outstanding letters of credit and accrued fees and expenses	91,500
Swing Line Loans [Member]
Revolving credit facility amount	(25,000)
Letters Of Credit Outstanding [Member]
Revolving credit facility amount	(60,000)
Secured Debt [Member]
Long-term Debt, Gross	$ 500,000	$ 150,000
Debt Instrument, Basis Spread on Variable Rate	32500.00%
Debt Instrument, Interest Rate, Effective Percentage	4.88%	5.591%
Debt Instrument, Periodic Payment, Principal	$ 1,250
Agreement termination date	Nov. 25, 2021
Future maturities of outstanding borrowings
Financial Liabilities Fair Value Disclosure	$ 496,100
Minimum [Member] | Domestic Line of Credit [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	2500.00%
London Interbank Offered Rate (LIBOR) [Member] | Secured Debt [Member]
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.75%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Long-term Debt [Member]
Debt Instrument, Basis Spread on Variable Rate	2500.00%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Domestic Line of Credit [Member]
Debt Instrument, Basis Spread on Variable Rate	12500.00%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | Domestic Line of Credit [Member]
Debt Instrument, Basis Spread on Variable Rate	15000.00%
Base Rate [Member] | Maximum [Member] | Domestic Line of Credit [Member]
Debt Instrument, Basis Spread on Variable Rate	5000.00%

Borrowing Arrangements (Compone

Borrowing Arrangements (Components Of Long-Term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Sep. 30, 2016
Debt instrument	$ 489.6	$ 490.7
Deferred financing costs	6	6.3
Current portion of long-term debt	5.6	5.6
Long-term debt	478	478.8
Domestic Line of Credit [Member]
Debt instrument	0	0
Secured Debt [Member]
Debt instrument	488.3	489.4
Other [Member]
Debt instrument	$ 1.3	$ 1.3

Derivative Financial Instrume33

Derivative Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended	60 Months Ended
	Dec. 31, 2016	Sep. 30, 2021	Sep. 30, 2016
Derivative [Line Items]
Other current liabilities	$ 1.9		$ 2
Derivative, Cap Interest Rate			0.75%
Derivative, Fixed Interest Rate			2.341%
Derivative, Amount of Hedged Item			$ 150
Other noncurrent liabilities	0.7		5.3
Interest Rate Derivatives, at Fair Value, Net	2.6		7.3
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	0.6
Secured Debt [Member]
Derivative [Line Items]
Long-term Debt, Gross	$ 500		$ 150
Debt Instrument, Interest Rate, Effective Percentage	4.88%		5.591%
Debt Instrument, Basis Spread on Variable Rate	32500.00%
Scenario, Forecast [Member]
Derivative [Line Items]
HedgePeriodStart		Sep. 30, 2016
Derivative, Maturity Date		Sep. 30, 2021

Retirement Plans (Narrative) (D

Retirement Plans (Narrative) (Details) $ in Millions	3 Months Ended
	Dec. 31, 2016USD ($)
Decrease in accumulated other comprehensive loss net of tax	$ 0.6

Retirement Plans (Net Periodic

Retirement Plans (Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan, Service Cost	$ 0.5	$ 0.4
Defined Benefit Plan, Interest Cost	3.6	5.1
Defined Benefit Plan, Expected Return on Plan Assets	(4.3)	(5.1)
Amortization of actuarial net loss	1	0.8
Net periodic benefit cost	$ 0.8	$ 1.2

Stock-based Compensation Plan36

Stock-based Compensation Plans (Narrative) (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)shares
Allocated Share-based Compensation Expense | $	$ 2.7	$ 1.9
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $	$ 13.6
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	323,010	1,042,254
Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Intrinsic Value, Amount Per Share | $ / shares	$ 13.31
Share-based compensation liability | $	$ 1.5
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	263,410
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	177,861
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based compensation, units awarded but not yet granted	192,402
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	255,414
Minimum [Member] | Performance Shares [Member]
Performance Factor	0
Maximum [Member] | Performance Shares [Member]
Performance Factor	2
Share-based Compensation Award, Tranche One [Member] | Performance Shares [Member]
Performance Factor	1
Share-based Compensation Award, Tranche Two [Member] | Performance Shares [Member]
Performance Factor	2
Share-based Compensation Award, Tranche Three [Member] | Performance Shares [Member]
Performance Factor	0

Stock-based Compensation Plan37

Stock-based Compensation Plans Grants Table $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Granted, Value, Share-based Compensation, Gross	$ 7.7
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares | shares	177,861
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 13.26
Stock Granted, Value, Share-based Compensation, Gross	$ 2.4
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares | shares	39,231
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 2.34
Stock Granted, Value, Share-based Compensation, Gross	$ 0.1
Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares | shares	187,115
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 13.26
Stock Granted, Value, Share-based Compensation, Gross	$ 2.5
Share-based Compensation Award, Tranche One [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares | shares	59,285
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 13.26
Stock Granted, Value, Share-based Compensation, Gross	$ 0.8
Share-based Compensation Award, Tranche Two [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares | shares	73,826
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 13.26
Stock Granted, Value, Share-based Compensation, Gross	$ 1
Share-based Compensation Award, Tranche Three [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares | shares	68,556
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 13.26
Stock Granted, Value, Share-based Compensation, Gross	$ 0.9

Supplemental Balance Sheet In38

Supplemental Balance Sheet Information (Schedule Of Selected Supplemental Balance Sheet Information) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Sep. 30, 2016
Inventories:
Purchased components and raw material	$ 65.3	$ 67
Work in process	38	31.4
Finished goods	39.4	32.3
Inventories, net	142.7	130.7
Property, plant and equipment:
Land	5.7	5.7
Buildings	50.9	50.6
Machinery and equipment	250.9	248.3
Construction in progress	14.6	14.8
Property, plant and equipment, gross	322.1	319.4
Accumulated depreciation	(215.3)	(211)
Property, plant and equipment net	106.8	108.4
Other current liabilities:
Compensation and benefits	18.7	32.7
Customer rebates	7	8.3
Interest	0.6	0.5
Taxes other than income taxes	2.5	3
Warranty	2.1	2
Environmental	4.1	5
Income taxes	2.7	4.6
Other	2.5	5.6
Other current liabilities	$ 40.2	$ 61.7

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Loss (Schedule Of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax	$ (57.7)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	(6.1)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	(4.5)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(66.3)		$ (68.3)
Minimum pension liability, net of tax	0.6
Foreign currency translation	(1.5)	$ (1.5)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	2.9
Other Comprehensive Income (Loss), Net of Tax	2
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax	(57.1)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	(7.6)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	(1.6)
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (66.3)

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Dec. 31, 2015
Segment Reporting Information [Line Items]
Number of Reportable Segments	2

Segment Information (Schedule O

Segment Information (Schedule Of Selected Supplemental Balance Sheet Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Segment Reporting Information [Line Items]
Net sales, excluding intercompany	$ 167.2	$ 163.1
2,013	1.1	1.6
Operating income	13.9	11.4
Depreciation and amortization	10.3	9.6
Restructuring	1.3	0.8
Payments to Acquire Productive Assets	4.2	4.7
Total assets	1,228.4		$ 1,280.6
Intangible intangible assets, net	429.8		$ 434.6
Mueller Co. [Member]
Segment Reporting Information [Line Items]
Net sales, excluding intercompany	146.3	144.7
2,013	1.1	1.6
Operating income	26.1	23.8
Depreciation and amortization	9	8.4
Restructuring	0.1	0.2
Payments to Acquire Productive Assets	3	3.6
Mueller Technologies [Member]
Segment Reporting Information [Line Items]
Net sales, excluding intercompany	20.9	18.4
2,013	0	0
Operating income	(2.2)	(3.8)
Depreciation and amortization	1.2	1.1
Restructuring	0	0.5
Payments to Acquire Productive Assets	1.1	1
Corporate [Member]
Segment Reporting Information [Line Items]
Operating income	(10)	(8.6)
Depreciation and amortization	0.1	0.1
Restructuring	1.2	0.1
Payments to Acquire Productive Assets	$ 0.1	$ 0.1

Commitments and Contingencies (

Commitments and Contingencies (Details) CAD in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2016CAD	Dec. 31, 2016USD ($)	Dec. 31, 2014USD ($)
Loss Contingency, Damages Sought, Value | CAD	CAD 10
Prior To 1995 [member]
Walter Energy tax assessment			$ 33
IRS-Walter Energy Claim 1 [Member]
Loss Contingency, Range of Possible Loss, Maximum		$ 554.3
IRS-Walter Energy Claim 1 Priority [Member]
Loss Contingency, Range of Possible Loss, Maximum		229.1
IRS-Walter Energy Claim 2 [Member]
Loss Contingency, Range of Possible Loss, Maximum		860.4
IRS-Walter Energy Claim 2 Priority [Member]
Loss Contingency, Range of Possible Loss, Maximum		$ 535.3

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Feb. 21, 2017	Feb. 10, 2017	Jan. 05, 2017	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Feb. 07, 2017
Subsequent Event [Line Items]
Dividends declared, in dollars per share					$ 0.03	$ 0.02
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period							$ 15
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends Payable, Date Declared			Jan. 5, 2017
Dividends declared, in dollars per share			$ 0.0400
Dividends Payable, Date to be Paid	Feb. 21, 2017
Dividends Payable, Date of Record		Feb. 10, 2017
Disposal Date				Jan. 6, 2017
Business Acquisition, Date of Acquisition Agreement				Jan. 30, 2017
Payments to Acquire Businesses, Gross				$ 26
Subsequent Event, Date				Feb. 6, 2017
Accelerated Share Repurchases, Settlement (Payment) or Receipt								$ 50
Accelerated Share Repurchases, Initial Shares								2.9