Hillenbrand (HI) 10-Q 2 Feb 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2015	Jan. 27, 2016
Document and Entity Information
Entity Registrant Name	Hillenbrand, Inc.
Entity Central Index Key	1,417,398
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		62,939,321
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Net revenue	[1]	$ 351.7	$ 401.5
Cost of goods sold		223.5	263.1
Gross profit		128.2	138.4
Operating expenses		82.1	83.6
Amortization expense		9.8	7.6
Interest expense		5.9	5.7
Other income (expense), net		(0.7)	0
Income before income taxes		29.7	41.5
Income tax expense		8.7	11.8
Consolidated net income		21	29.7
Less: Net income attributable to noncontrolling interests		1	0.2
Total reclassifications for the period, net of tax	[2]	$ 20	$ 29.5
Net income - per share of common stock:
Weighted average shares outstanding (diluted)		63.8	63.9
Cash dividends declared per share		$ 0.2025	$ 0.2
[1]	We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.
[2]	Net income attributable to Hillenbrand

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Consolidated net income		$ 21	$ 29.7
Changes in other comprehensive income (loss), net of tax
Currency translation adjustment		(15.2)	(20.1)
Pension and postretirement (net of tax of $0.4 and $0.5)		0.7	0.8
Change in net unrealized gain (loss) on derivative instruments (net of tax of $— and ($0.2))		0.6	(0.5)
Total changes in other comprehensive income (loss), net of tax		(13.9)	(19.8)
Consolidated comprehensive income		7.1	9.9
Less: Comprehensive income attributable to noncontrolling interests		0.9	0.1
Comprehensive income (loss)	[1],[2]	$ 6.2	$ 9.8
[1]	Comprehensive income attributable to Hillenbrand
[2]	Comprehensive income attributable to Hillenbrand

Consolidated Statements of Com4

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Pension and postretirement, tax	$ 0	$ 0.5
Change in net unrealized gain (loss) on derivative instruments, tax	$ 0	$ (0.2)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Current Assets
Cash and cash equivalents	$ 55.1	$ 48.3
Trade receivables, net	173.4	187.9
Unbilled receivables from long-term manufacturing contracts	120.3	144.9
Inventories	166.1	153.6
Deferred income taxes	19.3	21.9
Prepaid expenses	21.2	23.8
Other current assets	20.3	23.7
Total current assets	575.7	604.1
Property, plant, and equipment, net	158	158.3
Intangible assets, net	499.8	459.6
Goodwill	569.2	544
Other assets	40.1	42.1
Total Assets	1,842.8	1,808.1
Current Liabilities
Trade accounts payable	101.7	104.3
Liabilities from long-term manufacturing contracts and advances	70.2	79.7
Current portion of long-term debt	10.1	9.4
Accrued compensation	40.7	62.3
Deferred income taxes	19.7	25.4
Other current liabilities	112.6	123.1
Total current liabilities	355	404.2
Long-term debt	612.9	518.7
Accrued pension and postretirement healthcare	215.1	218.7
Deferred income taxes	31.6	29.4
Other long-term liabilities	30.6	31.3
Total Liabilities	$ 1,245.2	$ 1,202.3
Commitments and contingencies
SHAREHOLDERS’ EQUITY
Common stock, no par value (63.7 and 63.6 shares issued, 63.0 and 62.9 shares outstanding)	$ 0	$ 0
Additional paid-in capital	348.4	350.9
Retained earnings	379	372.1
Treasury stock (0.7 and 0.7 shares)	(20.7)	(21)
Accumulated other comprehensive loss	(121.7)	(107.9)
Hillenbrand Shareholders’ Equity	585	594.1
Noncontrolling interests	12.6	11.7
Total Shareholders’ Equity	597.6	605.8
Total Liabilities and Equity	$ 1,842.8	$ 1,808.1

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Sep. 30, 2015
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)
Common stock, shares issued	63,700,000	63,600,000
Common stock, shares outstanding	63,000,000	62,900,000
Treasury stock, shares	700,000	700,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flow - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Operating Activities
Consolidated net income	$ 21	$ 29.7
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	16	15
Deferred income taxes	0.5	0.5
Share-based compensation	0.6	2.2
Trade accounts receivable and receivables on long-term manufacturing contracts	34.6	5.5
Inventories	(7.6)	(11.7)
Prepaid expenses and other current assets	4.4	0.3
Trade accounts payable	(1.6)	(48.7)
Accrued expenses and other current liabilities	(33.5)	(37.9)
Income taxes payable	(5)	8.4
Defined benefit plan and postretirement funding	(3.1)	(2.7)
Defined benefit plan and postretirement expense	3.1	3.6
Other, net	6.3	(6.1)
Net cash provided by (used in) operating activities	35.7	(41.9)
Investing Activities
Capital expenditures	(6.5)	(5.7)
Proceeds from sales of property, plant, and equipment	0.1	0.5
Payments to Acquire Businesses, Net of Cash Acquired	(105.7)	0
Other, net	0	(2.6)
Net cash used in investing activities	(112.1)	(7.8)
Financing Activities
Repayments on term loan	(3.4)	(2.3)
Proceeds from revolving credit facilities	182.3	149.3
Repayments on revolving credit facilities	(81.5)	(187.2)
Proceeds from unsecured Series A Notes, net of financing costs	0	99.7
Payments of dividends on common stock	(12.7)	(12.6)
Repurchases of common stock	(3)	(6.8)
Net proceeds (payments) on stock plans	(0.8)	1.2
Other, net	0.8	1
Net cash provided by financing activities	81.7	42.3
Effect of exchange rates on cash and cash equivalents	1.5	1.4
Net cash flows	6.8	(6)
Cash and cash equivalents:
At beginning of period	48.3	58
At end of period	$ 55.1	$ 52

Background and Basis of Present

Background and Basis of Presentation	3 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Background and Basis of Presentation Hillenbrand, Inc. (“Hillenbrand”) is a global diversified industrial company that makes and sells premium business-to-business products and services for a wide variety of industries. We strive to provide superior return for our shareholders, exceptional value for our customers, and great professional opportunities for our people through deployment of the Hillenbrand Operating Model (the “HOM”). The HOM is a consistent and repeatable framework designed to produce sustainable and predictable results. The HOM describes our mission, vision, values, and leader’s mindset; uses our management practices in Strategy Management, Segmentation, Lean, Talent Development, and Acquisitions; and prescribes three steps (Understand, Focus and Grow) to make our businesses both bigger and better. Our goal is to continue developing Hillenbrand as a world-class global diversified industrial company. Hillenbrand is composed of two segments: the Process Equipment Group and Batesville ® . The Process Equipment Group businesses design, develop, manufacture, and service highly engineered industrial equipment around the world. Batesville is a recognized leader in the North American death care industry. “Hillenbrand,” “the Company,” “we,” “us,” “our,” and similar words refer to Hillenbrand and its subsidiaries. The accompanying unaudited consolidated financial statements include the accounts of Hillenbrand and its subsidiaries. They also include two minor subsidiaries where the Company’s ownership percentage is less than 100% . The Company’s fiscal year ends on September 30. Unless otherwise stated, references to years relate to fiscal years. Certain prior period amounts have been reclassified to conform to the fiscal 2016 presentation. These unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements and therefore do not include all information required in accordance with accounting principles generally accepted in the United States (“GAAP”). The unaudited consolidated financial statements have been prepared on the same basis as, and should be read in conjunction with, the audited consolidated financial statements and notes thereto included in our latest Annual Report on Form 10-K for the year ended September 30, 2015 , as filed with the SEC. The September 30, 2015 Consolidated Balance Sheet included in this Form 10-Q was derived from audited consolidated financial statements, but does not include all disclosures required by GAAP for a year-end balance sheet included in Form 10-K. In the opinion of management, these financial statements reflect all adjustments necessary to present a fair statement of the Company’s consolidated financial position and the consolidated results of operations and cash flow as of the dates and for the periods presented. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expense during the period. Actual results could differ from those estimates. Examples of such estimates include, but are not limited to, revenue recognition under the percentage-of-completion method and the establishment of reserves related to customer rebates, doubtful accounts, warranties, early-pay discounts, inventories, income taxes, litigation, self-insurance, and progress toward achievement of performance criteria under the incentive compensation programs.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Recently Issued Accounting Standard	The significant accounting policies used in preparing these consolidated financial statements are consistent with the accounting policies described in our Annual Report on Form 10-K for 2015 . Summary of Significant Accounting Policies The significant accounting policies used in preparing these consolidated financial statements are consistent with the accounting policies described in our Annual Report on Form 10-K for 2015 . Recently Adopted Accounting Standards In April 2014, the FASB issued ASU 2014-8, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity , which includes amendments that change the requirements for reporting discontinued operations and requires additional disclosures about discontinued operations. Under ASU 2014-8, only disposals representing a strategic shift in operations should be presented as discontinued operations. ASU 2014-8 became effective and was adopted for our fiscal year beginning October 1, 2015. The adoption of this standard did not have a significant impact on our consolidated financial statements. Recently Issued Accounting Standards In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. ASU 2014-09 requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 will be effective for our fiscal year beginning October 1, 2018, including interim periods within that reporting period, and allows for either full retrospective adoption or modified retrospective adoption, with early adoption permitted on October 1, 2017. We are currently evaluating the impact that ASU 2014-09 will have on our consolidated financial statements. In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . ASU 2014-12 states that a performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition. ASU 2014-12 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We are currently evaluating the impact that ASU 2014-12 will have on our consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern. ASU 2014-15 provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. ASU 2014-15 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We do not expect the adoption of ASU 2014-15 to have a material impact on our consolidated financial statements. In January 2015, the FASB issued ASU 2015-01, Income Statement—Extraordinary and Unusual Items. ASU 2015-01 eliminates from GAAP the concept of extraordinary items. ASU 2015-01 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We do not expect the adoption of ASU 2015-01 to have a material impact on our consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation: Amendments to the Consolidation Analysis . The new standard amends the consolidation guidance in ASC 810 and significantly changes the consolidation analysis required under current generally accepted accounting principles. ASU 2015-02 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We are currently evaluating the impact that ASU 2015-02 will have on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest. ASU 2015-03 simplifies the presentation of debt issuance costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU 2015-15, Interest - Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. This standard permits an entity to defer and present debt issuance costs related to line-of-credit arrangements as an asset and to subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement. These new standards do not affect the recognition and measurement of debt issuance costs. ASU 2015-03 and ASU 2015-15 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We do not expect the adoption of ASU 2015-03 and ASU 2015-15 to have a material impact on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software. ASU 2015-05 helps entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement by providing guidance as to whether an arrangement includes the sale or license of software. ASU 2015-05 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We are currently evaluating the impact that ASU 2015-05 will have on our consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330) . Under current FASB standards, an entity is required to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. ASU 2015-11 requires an entity to measure inventory within the scope of this update at the lower of cost and net realizable value. Subsequent measurement is unchanged for inventory measured using last-in, first-out (LIFO) or the retail inventory method. ASU 2015-11 will be effective for our fiscal year beginning October 1, 2017, with early adoption permitted. We are currently evaluating the impact that ASU 2015-11 will have on our consolidated financial statements. In July 2015, the FASB issued ASU 2015-12, Plan accounting: defined benefit pension plans (Topic 960), defined contribution pension plans (Topic 962), health and welfare benefit plans (Topic 965): (Part I) fully benefit-responsive investment contracts, (Part II) plan investment disclosures, (Part III) measurement date practical expedient. This update reduces complexity in employee benefit plan accounting, which is consistent with the FASB’s Simplification initiative. Part I: Fully Benefit-Responsive Investment Contracts , designate contract value as the only required measure for fully benefit-responsive investment contracts, which maintains the relevant information while reducing the cost and complexity of reporting for fully benefit-responsive investment contracts. It removes the requirement that fully benefit-responsive investment contracts be measured at contract value and require an adjustment to reconcile contract value to fair value, when these measures differ, on the face of the plan financial statements. Part II: Plan Investment Disclosures , simplifies and makes more effective the investment disclosure requirements under Topic 820 and under Topics 960, 962, and 965 for employee benefit plans. Part III: Measurement Date Practical Expedient , reduces complexity in employee benefit plan accounting by providing a practical expedient that permits plans to measure investments and investment-related accounts as of a month-end date that is closest to the plan’s fiscal year-end, when the fiscal period does not coincide with month-end. ASU 2015-12 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We are currently evaluating the impact that ASU 2015-12 will have on our consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations . ASU 2015-16 simplifies the accounting for adjustments made to provisional amounts. The amendments in ASU 2015-16 require that the acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amount is determined. The acquirer is also required to record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. In addition, an entity is required to present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 will be effective for our fiscal year beginning on October 1, 2016, with early adoption permitted. We are currently evaluating the impact that ASU 2015-16 will have on our consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, Income Taxes . ASU 2015-17 requires that deferred income tax liabilities and assets be classified as noncurrent in a classified statement of financial position in order to simplify the presentation of deferred income taxes. ASU 2015-17 will be effective for our fiscal year beginning on October 1, 2017, with early adoption permitted. We are currently evaluating the impact that ASU 2015-17 will have on our consolidated financial statements.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Dec. 31, 2015
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information December 31, September 30, Trade accounts receivable reserves $ 20.8 $ 20.0 Accumulated depreciation on property, plant, and equipment $ 305.3 $ 295.2 Accumulated amortization on intangible assets $ 170.9 $ 144.8 Inventories: Raw materials and components $ 43.9 $ 40.1 Work in process 68.2 63.9 Finished goods 54.0 49.6 Total inventories $ 166.1 $ 153.6

Financing Agreements

Financing Agreements	3 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Financing Agreements	Financing Agreements December 31, September 30, 2015 $700 revolving credit facility (excluding outstanding letters of credit) $ 205.1 $ 107.6 $180 term loan 168.8 171.0 $150 senior unsecured notes, net of discount 149.1 149.1 $100 Series A Notes 100.0 100.0 Other — 0.4 Total debt 623.0 528.1 Less: current portion 10.1 9.4 Total long-term debt $ 612.9 $ 518.7 With respect to the Facility, as of December 31, 2015 , we had $15.1 in outstanding letters of credit issued and $479.8 of maximum borrowing capacity. $343.7 of borrowing capacity is immediately available based on our leverage covenant at December 31, 2015 , with additional amounts available in the event of a qualifying acquisition. The weighted-average interest rates on borrowings under the Facility were 1.21% and 1.27% for the three months ended December 31, 2015 and 2014. The weighted average facility fee was 0.18% and 0.25% for the three months ended December 31, 2015 and 2014. The weighted average interest rate on the term loan was 1.46% and 1.54% for the three months ended December 31, 2015 and 2014. In the normal course of business, the Process Equipment Group provides to certain customers bank guarantees and other credit arrangements in support of performance, warranty, advance payment, and other contractual obligations. This form of trade finance is customary in the industry and, as a result, we are required to maintain adequate capacity to provide the guarantees. As of December 31, 2015 , we had credit arrangements totaling $213.3 , under which $124.5 was utilized for this purpose. These arrangements included our €150.0 Syndicated Letter of Guarantee Facility (as amended, the “LG Facility”) and other ancillary credit facilities. The availability of borrowings under the Facility, the LG Facility, and the Private Shelf Agreement, dated as of December 6, 2012 (the “Shelf Agreement”), among the Company, Prudential Investment Management and each Prudential Affiliate (as defined thereunder), governing the 4.60% Series A unsecured notes (the “Series A Notes”), is subject to our ability to meet certain conditions including compliance with covenants, absence of default, and continued accuracy of certain representations and warranties. Financial covenants include a maximum ratio of Indebtedness to EBITDA (as defined in the agreements) of 3.5 to 1.0 and a minimum ratio of EBITDA to interest expense of 3.5 to 1.0. As of December 31, 2015 , we were in compliance with all covenants. The Facility, senior unsecured notes, Series A Notes, and LG Facility are fully and unconditionally guaranteed by certain of the Company’s domestic subsidiaries. We had restricted cash of $0.7 and $0.8 at December 31, 2015 and September 30, 2015 .

Retirement Benefits

Retirement Benefits	3 Months Ended
	Dec. 31, 2015
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Retirement Benefits	Retirement Benefits Defined Benefit Plans U.S. Pension Benefits Non-U.S. Pension Benefits Three Months Ended December 31, Three Months Ended December 31, 2015 2014 2015 2014 Service costs $ 1.0 $ 1.1 $ 0.6 $ 0.4 Interest costs 2.4 3.6 0.6 0.8 Expected return on plan assets (2.4 ) (3.5 ) (0.3 ) (0.3 ) Amortization of unrecognized prior service costs, net 0.1 0.2 — — Amortization of net loss 0.9 1.2 0.2 — Net pension costs $ 2.0 $ 2.6 $ 1.1 $ 0.9 Postretirement Healthcare Plans — Net postretirement healthcare costs were $0.1 and $0.1 for the three months ended December 31, 2015 and 2014 . Defined Contribution Plans — Expenses related to our defined contribution plans were $2.3 and $2.1 for the three months ended December 31, 2015 and 2014 .

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rates for the three months ended December 31, 2015 and 2014 were 29.3% and 28.4% . The increase in the effective tax rate during the three months ended December 31, 2015 was primarily due to discrete tax benefits recognized in fiscal 2015 that did not repeat in fiscal 2016.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The dilutive effects of performance-based stock awards were included in the computation of diluted earnings per share at the level the related performance criteria were met through the respective balance sheet date. At December 31, 2015 and 2014 , potential dilutive effects, representing approximately 1,300,000 and 1,400,000 shares, were excluded from the computation of diluted earnings per share as the related performance criteria were not yet met, although we expect to meet various levels of criteria in the future. Three Months Ended 2015 2014 Net income(1) $ 20.0 $ 29.5 Weighted average shares outstanding (basic - in millions) 63.2 63.1 Effect of dilutive stock options and other unvested equity awards (in millions) 0.6 0.8 Weighted average shares outstanding (diluted - in millions) 63.8 63.9 Basic earnings per share $ 0.32 $ 0.47 Diluted earnings per share $ 0.31 $ 0.46 Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions) 0.5 0.4 (1) Net income attributable to Hillenbrand

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity During the three months ended December 31, 2015 , we paid approximately $12.7 of cash dividends. We also repurchased approximately 106,000 shares of our common stock during the three months ended December 31, 2015 , for a total cost of approximately $3.0 . In connection with our share-based compensation plans discussed further in Note 11, we also issued approximately 217,000 shares of common stock, of which approximately 113,000 shares were treasury stock.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	3 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) Pension and Postretirement Currency Translation Net Unrealized Gain (Loss) on Derivative Instruments Total Attributable to Hillenbrand, Inc. Noncontrolling Interests Total Balance at September 30, 2014 $ (46.0 ) $ (4.9 ) $ (1.3 ) $ (52.2 ) Other comprehensive income before reclassifications Before tax amount — (20.0 ) (1.5 ) (21.5 ) $ (0.1 ) $ (21.6 ) Tax expense — — 0.5 0.5 — 0.5 After tax amount — (20.0 ) (1.0 ) (21.0 ) (0.1 ) (21.1 ) Amounts reclassified from accumulated other comprehensive income(1) 0.8 — 0.5 1.3 — 1.3 Net current period other comprehensive income (loss) 0.8 (20.0 ) (0.5 ) (19.7 ) $ (0.1 ) $ (19.8 ) Balance at December 31, 2014 $ (45.2 ) $ (24.9 ) $ (1.8 ) $ (71.9 ) (1) Amounts are net of tax. Pension and Postretirement Currency Translation Net Unrealized Gain (Loss) on Derivative Instruments Total Attributable to Hillenbrand, Inc. Noncontrolling Interests Total Balance at September 30, 2015 $ (54.4 ) $ (52.1 ) $ (1.4 ) $ (107.9 ) Other comprehensive income before reclassifications Before tax amount — (15.1 ) (0.2 ) (15.3 ) $ (0.1 ) $ (15.4 ) Tax expense — — 0.2 0.2 — 0.2 After tax amount — (15.1 ) — (15.1 ) (0.1 ) (15.2 ) Amounts reclassified from accumulated other comprehensive income(1) 0.7 — 0.6 1.3 — 1.3 Net current period other comprehensive income (loss) 0.7 (15.1 ) 0.6 (13.8 ) $ (0.1 ) $ (13.9 ) Balance at December 31, 2015 $ (53.7 ) $ (67.2 ) $ (0.8 ) $ (121.7 ) (1) Amounts are net of tax. Reclassifications out of Accumulated Other Comprehensive Income include: Three Months Ended December 31, 2014 Amortization of Pension and Postretirement (1) (Gain)/Loss on Net Loss Recognized Prior Service Costs Recognized Derivative Instruments Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ 0.5 $ 0.5 Cost of goods sold 0.9 0.1 (0.1 ) 0.9 Operating expenses 0.3 0.1 — 0.4 Other income (expense), net — — 0.3 0.3 Total before tax $ 1.2 $ 0.2 $ 0.7 $ 2.1 Tax expense (0.8 ) Total reclassifications for the period, net of tax $ 1.3 Three Months Ended December 31, 2015 Amortization of Pension and Postretirement (1) (Gain)/Loss on Net Loss Recognized Prior Service Costs Recognized Derivative Instruments Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ 0.5 $ 0.5 Cost of goods sold 0.6 0.1 — 0.7 Operating expenses 0.2 — — 0.2 Other income (expense), net — — 0.3 0.3 Total before tax $ 0.8 $ 0.1 $ 0.8 $ 1.7 Tax expense (0.4 ) Total reclassifications for the period, net of tax $ 1.3 (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 6).

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Dec. 31, 2015
Compensation Related Costs [Abstract]
Share-Based Compensation	Share-Based Compensation Three Months Ended 2015 2014 Share-based compensation costs $ 0.6 $ 2.2 Less impact of income tax benefit 0.2 0.8 Share-based compensation costs, net of tax $ 0.4 $ 1.4 We have share-based compensation with long-term performance-based metrics that are contingent upon our relative total shareholder return and the creation of shareholder value as measured by the cumulative cash returns and final period net operating profit after tax compared to the performance-based targets for each grant over a three -year period. For the performance-based awards contingent upon the creation of shareholder value, compensation expense is adjusted each quarter based upon actual results to date and any changes to forecasted information on each of the separate grants. During the three months ended December 31, 2015 , we made the following grants: Number of Units Stock options 497,774 Time-based stock awards 42,262 Performance-based stock awards (maximum that can be earned) 368,221 Stock options granted during fiscal 2016 had a weighted-average exercise price of $31.11 and a weighted-average grant date fair value of $7.80 . Our time-based stock awards and performance-based stock awards granted during fiscal 2016 had weighted-average grant date fair values of $30.54 and $33.11 . Included in the performance-based stock awards granted during 2016 are 194,689 units whose payout level is based upon the Company’s total shareholder return as it relates to the performance of companies in its compensation peer group over a three -year measurement period. These units will be expensed on a straight-line basis over the measurement period and are not subsequently adjusted after the grant date.

Other Income (Expense), Net

Other Income (Expense), Net	3 Months Ended
	Dec. 31, 2015
Other Nonoperating Income (Expense) [Abstract]
Other Income and Other Expense	Other Income (Expense), Net Three Months Ended 2015 2014 Equity in net income (loss) of affiliates $ (0.4 ) $ 0.3 Foreign currency exchange loss, net (0.1 ) (0.8 ) Other, net (0.2 ) 0.5 Other income (expense), net $ (0.7 ) $ —

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Like most companies, we are involved from time to time in claims, lawsuits, and government proceedings relating to our operations, including environmental, patent infringement, business practices, commercial transactions, product and general liability, workers’ compensation, auto liability, employment, and other matters. The ultimate outcome of these matters cannot be predicted with certainty. An estimated loss from these contingencies is recognized when we believe it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated; however, it is difficult to measure the actual loss that might be incurred related to litigation. If a loss is not considered probable and/or cannot be reasonably estimated, we are required to make a disclosure if there is at least a reasonable possibility that a significant loss may have been incurred. Legal fees associated with claims and lawsuits are generally expensed as incurred. Claims other than employment and related matters have deductibles and self-funded retentions up to $0.5 per occurrence or per claim, depending upon the type of coverage and policy period. Outside insurance companies and third-party claims administrators assist in establishing individual claim reserves, and an independent outside actuary provides estimates of ultimate projected losses, including incurred but not reported claims, which are used to establish reserves for losses. Claim reserves for employment-related matters are established based upon advice from internal and external counsel and historical settlement information for claims and related fees when such amounts are considered probable of payment. The recorded amounts represent our best estimate of the costs we will incur in relation to such exposures, but it is possible that actual costs will differ from those estimates.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability, developed based upon the best information available in the circumstances. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three levels: Level 1: Inputs are quoted prices in active markets for identical assets or liabilities. Level 2: Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) that are observable for the asset or liability, either directly or indirectly. Level 3: Inputs are unobservable for the asset or liability. Carrying Value at Fair Value at December 31, 2015 2015 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 55.1 $ 55.1 $ — $ — Investments in rabbi trust 4.4 4.4 — — Derivative instruments 2.0 — 2.0 — Liabilities: $150 senior unsecured notes 149.1 162.3 — — Revolving credit facility 205.1 — 205.1 — Term loan 168.8 — 168.8 — $100 Series A Notes 100.0 — 99.4 — Derivative instruments 6.4 — 6.4 — The fair values of the revolving credit facility and term loan approximated carrying value at December 31, 2015 . The fair values of the revolving credit facility, term loan, and Series A Notes are estimated based on internally developed models, using current market interest rate data for similar issues as there is no active market for our revolving credit facility, term loan, or Series A Notes. The fair values of the Company’s derivative instruments are based upon pricing models using inputs derived from third-party pricing services or observable market data such as currency spot and forward rates. These values are periodically validated by comparing to third-party broker quotes. The aggregate notional value of these foreign currency derivatives was $177.9 at December 31, 2015 . The derivatives are included in other current assets and other current liabilities on the balance sheet.

Segment and Geographical Inform

Segment and Geographical Information	3 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment and Geographical Information	Segment and Geographical Information Three Months Ended December 31, 2015 2014 Net revenue Process Equipment Group $ 214.0 $ 256.4 Batesville 137.7 145.1 Total $ 351.7 $ 401.5 Adjusted EBITDA Process Equipment Group $ 33.0 $ 38.1 Batesville 31.8 32.6 Corporate (7.0 ) (7.3 ) Net revenue (1) United States $ 198.9 $ 216.6 International 152.8 184.9 Total $ 351.7 $ 401.5 (1) We attribute revenue to a geography based upon the location of the business unit that consummates the external sale. December 31, September 30, 2015 Total assets assigned Process Equipment Group $ 1,578.8 $ 1,537.3 Batesville 217.1 224.9 Corporate 46.9 45.9 Total $ 1,842.8 $ 1,808.1 Tangible long-lived assets, net United States $ 94.1 $ 95.7 International 63.9 62.6 Total $ 158.0 $ 158.3 The following schedule reconciles segment adjusted EBITDA to consolidated net income. Three Months Ended 2015 2014 Adjusted EBITDA: Process Equipment Group $ 33.0 $ 38.1 Batesville 31.8 32.6 Corporate (7.0 ) (7.3 ) Less: Interest income (0.3 ) (0.3 ) Interest expense 5.9 5.7 Income tax expense 8.7 11.8 Depreciation and amortization 16.0 15.0 Business acquisition and integration 1.7 0.3 Inventory step-up 1.4 — Restructuring 3.4 0.7 Litigation — 0.5 Consolidated net income $ 21.0 $ 29.7

Condensed Consolidating Informa

Condensed Consolidating Information	3 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Information	Condensed Consolidating Information Certain 100% owned subsidiaries of Hillenbrand fully and unconditionally, jointly and severally, agreed to guarantee all of the indebtedness relating to our obligations under our revolving credit facility, term loan, senior unsecured notes, Series A Notes, and LG Facility. The following are the condensed consolidating financial statements, including the guarantors, which present the statements of income, balance sheets, and cash flows of (i) the parent holding company, (ii) the guarantor subsidiaries, (iii) the non-guarantor subsidiaries, and (iv) eliminations necessary to present the information for Hillenbrand on a consolidated basis. Condensed Consolidating Statements of Income Three Months Ended December 31, 2015 Three Months Ended December 31, 2014 Parent Guarantors Non- Guarantors Eliminations Consolidated Parent Guarantors Non- Guarantors Eliminations Consolidated Net revenue $ — $ 197.3 $ 205.2 $ (50.8 ) $ 351.7 $ — $ 216.7 $ 233.5 $ (48.7 ) $ 401.5 Cost of goods sold — 102.2 146.7 (25.4 ) 223.5 — 114.3 172.8 (24.0 ) 263.1 Gross profit — 95.1 58.5 (25.4 ) 128.2 — 102.4 60.7 (24.7 ) 138.4 Operating expenses 7.2 60.1 40.2 (25.4 ) 82.1 8.0 60.3 40.0 (24.7 ) 83.6 Amortization expense — 2.3 7.5 — 9.8 0.1 2.6 4.9 — 7.6 Interest expense 5.2 — 0.7 — 5.9 4.9 — 0.8 — 5.7 Other income (expense), net 0.1 (1.0 ) 0.2 — (0.7 ) — — — — — Equity in net income (loss) of subsidiaries 26.4 2.2 — (28.6 ) — 34.1 2.2 — (36.3 ) — Income (loss) before income taxes 14.1 33.9 10.3 (28.6 ) 29.7 21.1 41.7 15.0 (36.3 ) 41.5 Income tax expense (benefit) (5.9 ) 12.0 2.6 — 8.7 (8.4 ) 14.9 5.3 — 11.8 Consolidated net income 20.0 21.9 7.7 (28.6 ) 21.0 29.5 26.8 9.7 (36.3 ) 29.7 Less: Net income attributable to noncontrolling interests — — 1.0 — 1.0 — — 0.2 — 0.2 Net income (loss) (1) $ 20.0 $ 21.9 $ 6.7 $ (28.6 ) $ 20.0 $ 29.5 $ 26.8 $ 9.5 $ (36.3 ) $ 29.5 Consolidated comprehensive income (loss) $ 6.2 $ 30.8 $ (6.8 ) $ (23.1 ) $ 7.1 $ 9.8 $ 27.6 $ 2.3 $ (29.8 ) $ 9.9 Less: Comprehensive income attributable to noncontrolling interests — — 0.9 — 0.9 — — 0.1 — 0.1 Comprehensive income (loss) (2) $ 6.2 $ 30.8 $ (7.7 ) $ (23.1 ) $ 6.2 $ 9.8 $ 27.6 $ 2.2 $ (29.8 ) $ 9.8 (1) Net income attributable to Hillenbrand (2) Comprehensive income attributable to Hillenbrand Condensed Consolidating Balance Sheets December 31, 2015 September 30, 2015 Parent Guarantors Non- Guarantors Eliminations Consolidated Parent Guarantors Non- Guarantors Eliminations Consolidated Cash and cash equivalents $ 0.7 $ 6.5 $ 47.9 $ — $ 55.1 $ 0.3 $ 7.1 $ 40.9 $ — $ 48.3 Trade receivables, net — 98.3 75.1 — 173.4 — 113.4 74.5 — 187.9 Unbilled receivables from long-term manufacturing contracts — 8.4 111.9 — 120.3 — 13.5 131.4 — 144.9 Inventories — 75.0 93.9 (2.8 ) 166.1 — 69.0 87.1 (2.5 ) 153.6 Deferred income taxes 0.2 15.8 3.3 — 19.3 1.8 15.7 4.4 — 21.9 Prepaid expense 2.9 6.3 12.0 — 21.2 2.8 6.5 14.5 — 23.8 Intercompany receivables — 973.1 54.2 (1,027.3 ) — — 921.8 60.2 (982.0 ) — Other current assets 0.3 1.6 17.7 0.7 20.3 0.6 1.9 20.8 0.4 23.7 Total current assets 4.1 1,185.0 416.0 (1,029.4 ) 575.7 5.5 1,148.9 433.8 (984.1 ) 604.1 Property, plant and equipment, net 6.3 65.3 86.4 — 158.0 6.3 66.2 85.8 — 158.3 Intangible assets, net 2.1 173.0 324.7 — 499.8 2.2 175.6 281.8 — 459.6 Goodwill — 211.7 357.5 — 569.2 — 211.7 332.3 — 544.0 Investment in consolidated subsidiaries 2,130.9 842.6 — (2,973.5 ) — 2,082.7 836.1 — (2,918.8 ) — Other assets 22.9 28.7 0.4 (11.9 ) 40.1 24.5 31.0 0.9 (14.3 ) 42.1 Total Assets $ 2,166.3 $ 2,506.3 $ 1,185.0 $ (4,014.8 ) $ 1,842.8 $ 2,121.2 $ 2,469.5 $ 1,134.6 $ (3,917.2 ) $ 1,808.1 Trade accounts payable $ 1.1 $ 19.4 $ 81.2 $ — $ 101.7 $ 0.5 $ 22.7 $ 81.3 $ (0.2 ) $ 104.3 Liabilities from long-term manufacturing contracts and advances — 12.3 57.9 — 70.2 — 13.5 66.2 — 79.7 Current portion of long-term debt 10.1 — — — 10.1 9.0 — 0.4 — 9.4 Accrued compensation 1.5 12.4 26.8 — 40.7 3.9 23.0 35.4 — 62.3 Deferred income taxes — — 19.7 — 19.7 — — 25.4 — 25.4 Intercompany payables 1,024.8 5.3 — (1,030.1 ) — 979.7 4.8 — (984.5 ) — Other current liabilities 9.5 44.7 56.9 1.5 112.6 18.1 46.0 58.6 0.4 123.1 Total current liabilities 1,047.0 94.1 242.5 (1,028.6 ) 355.0 1,011.2 110.0 267.3 (984.3 ) 404.2 Long-term debt 531.3 — 81.6 — 612.9 513.1 — 5.6 — 518.7 Accrued pension and postretirement healthcare 1.1 119.9 94.1 — 215.1 1.1 119.8 97.8 — 218.7 Deferred income taxes — 17.4 26.9 (12.7 ) 31.6 — 17.0 26.5 (14.1 ) 29.4 Other long-term liabilities 1.9 20.6 8.1 — 30.6 1.7 20.4 9.2 — 31.3 Total Liabilities 1,581.3 252.0 453.2 (1,041.3 ) 1,245.2 1,527.1 267.2 406.4 (998.4 ) 1,202.3 Total Hillenbrand Shareholders’ Equity 585.0 2,254.3 719.2 (2,973.5 ) 585.0 594.1 2,202.3 716.5 (2,918.8 ) 594.1 Noncontrolling interests — — 12.6 — 12.6 — — 11.7 — 11.7 Total Equity 585.0 2,254.3 731.8 (2,973.5 ) 597.6 594.1 2,202.3 728.2 (2,918.8 ) 605.8 Total Liabilities and Equity $ 2,166.3 $ 2,506.3 $ 1,185.0 $ (4,014.8 ) $ 1,842.8 $ 2,121.2 $ 2,469.5 $ 1,134.6 $ (3,917.2 ) $ 1,808.1 Condensed Consolidating Statements of Cash Flow Three Months Ended December 31, 2015 Three Months Ended December 31, 2014 Parent Guarantors Non- Guarantors Eliminations Consolidated Parent Guarantors Non- Guarantors Eliminations Consolidated Net cash provided by (used in) operating activities $ (1.7 ) $ 3.2 $ 34.2 $ — $ 35.7 $ (33.3 ) $ 3.6 $ (12.2 ) $ — $ (41.9 ) Investing activities: Capital expenditures (0.3 ) (3.8 ) (2.4 ) — (6.5 ) (0.3 ) (3.3 ) (2.1 ) — (5.7 ) Proceeds from sales of property, plant, and equipment — — 0.1 — 0.1 — 0.5 — — 0.5 Acquisition of business, net of cash acquired — — (105.7 ) — (105.7 ) — — — — — Other, net — — — — — — (2.4 ) (0.2 ) — (2.6 ) Net cash used in investing activities (0.3 ) (3.8 ) (108.0 ) — (112.1 ) (0.3 ) (5.2 ) (2.3 ) — (7.8 ) Financing activities: Repayments on term loan (3.4 ) — — — (3.4 ) (2.3 ) — — — (2.3 ) Proceeds from revolving credit facilities 79.0 — 103.3 — 182.3 111.5 — 37.8 — 149.3 Repayments on revolving credit facilities (57.5 ) — (24.0 ) — (81.5 ) (157.5 ) — (29.7 ) — (187.2 ) Proceeds from unsecured Series A Notes, net of financing costs — — — — — 99.7 — — — 99.7 Payment of dividends on common stock (12.7 ) — — — (12.7 ) (12.6 ) — — — (12.6 ) Repurchases of common stock (3.0 ) — — — (3.0 ) (6.8 ) — — — (6.8 ) Net proceeds on stock plans (0.8 ) — — — (0.8 ) 1.2 — — — 1.2 Other, net 0.8 — — — 0.8 1.0 — — — 1.0 Net cash provided by financing activities 2.4 — 79.3 — 81.7 34.2 — 8.1 — 42.3 Effect of exchange rates on cash and cash equivalents — — 1.5 — 1.5 — — 1.4 — 1.4 Net cash flow 0.4 (0.6 ) 7.0 — 6.8 0.6 (1.6 ) (5.0 ) — (6.0 ) Cash and equivalents at beginning of period 0.3 7.1 40.9 — 48.3 0.4 10.6 47.0 — 58.0 Cash and equivalents at end of period $ 0.7 $ 6.5 $ 47.9 $ — $ 55.1 $ 1.0 $ 9.0 $ 42.0 $ — $ 52.0

Restructuring

Restructuring	3 Months Ended
	Dec. 31, 2015
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring The following schedule details the restructuring charges by segment and the classification of those charges on the income statement. Three Months Ended December 31, 2015 Three Months Ended December 31, 2014 Cost of goods sold Operating expenses Total Cost of goods sold Operating expenses Total Process Equipment Group $ 2.0 $ 1.2 $ 3.2 $ — $ 0.3 $ 0.3 Batesville — — — 1.2 — 1.2 Corporate — 0.2 0.2 — 0.4 0.4 Total $ 2.0 $ 1.4 $ 3.4 $ 1.2 $ 0.7 $ 1.9 These costs related primarily to severance costs at the Process Equipment Group as we continue to integrate and streamline the business operations within the segment; disposal of equipment at Batesville in fiscal 2015; and corporate compensation costs related to changes in the Company’s executive management team. At December 31, 2015 , $ 1.3 of restructuring costs were accrued and will be paid in 2016 .

Business Acquisitions (Notes)

Business Acquisitions (Notes)	3 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	3. Business Acquisitions We incurred $ 1.7 of business acquisition and integration costs during the three months ended December 31, 2015 recorded in operating expenses. Abel We completed the acquisition of Abel Pumps LP and Abel GmbH & Co. KG and certain of their affiliates (collectively “Abel”) on October 2, 2015 for €95 ( $105.7 ) in cash. We utilized borrowings under our revolving credit facility and term loan (the “Facility”), which provides for revolving loans of up to $700.0 and a term loan in the amount of $180.0 , to fund this acquisition. Based in Büchen, Germany, Abel is a globally-recognized leader in positive displacement pumps. Abel specializes in designing, developing and manufacturing piston and piston diaphragm pumps as well as pumping solutions and in providing related parts and service. This equipment is sold under the ABEL ® Pump Technology brand into the power generation, wastewater treatment, mining, general industry, and marine markets. The results of Abel are reported in our Process Equipment Group segment. Based on the preliminary purchase allocation, we recorded goodwill of $35 , and $58 of acquired identifiable intangible assets which consisted of $5 of trade names not subject to amortization, $9 of developed technology, $3 of backlog, and $41 of customer relationships. Goodwill is expected to be deductible for tax purposes in Germany. Supplemental proforma information has not been provided as the acquisition did not have a material impact on consolidated results of operations. Red Valve On February 1, 2016, we completed the acquisition of Red Valve Company, Inc. (“Red Valve”) for $131.9 in cash, including $3.3 for related real estate.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Recently Issued Accounting Standard	The significant accounting policies used in preparing these consolidated financial statements are consistent with the accounting policies described in our Annual Report on Form 10-K for 2015 . Summary of Significant Accounting Policies The significant accounting policies used in preparing these consolidated financial statements are consistent with the accounting policies described in our Annual Report on Form 10-K for 2015 . Recently Adopted Accounting Standards In April 2014, the FASB issued ASU 2014-8, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity , which includes amendments that change the requirements for reporting discontinued operations and requires additional disclosures about discontinued operations. Under ASU 2014-8, only disposals representing a strategic shift in operations should be presented as discontinued operations. ASU 2014-8 became effective and was adopted for our fiscal year beginning October 1, 2015. The adoption of this standard did not have a significant impact on our consolidated financial statements. Recently Issued Accounting Standards In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. ASU 2014-09 requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 will be effective for our fiscal year beginning October 1, 2018, including interim periods within that reporting period, and allows for either full retrospective adoption or modified retrospective adoption, with early adoption permitted on October 1, 2017. We are currently evaluating the impact that ASU 2014-09 will have on our consolidated financial statements. In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . ASU 2014-12 states that a performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition. ASU 2014-12 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We are currently evaluating the impact that ASU 2014-12 will have on our consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern. ASU 2014-15 provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. ASU 2014-15 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We do not expect the adoption of ASU 2014-15 to have a material impact on our consolidated financial statements. In January 2015, the FASB issued ASU 2015-01, Income Statement—Extraordinary and Unusual Items. ASU 2015-01 eliminates from GAAP the concept of extraordinary items. ASU 2015-01 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We do not expect the adoption of ASU 2015-01 to have a material impact on our consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation: Amendments to the Consolidation Analysis . The new standard amends the consolidation guidance in ASC 810 and significantly changes the consolidation analysis required under current generally accepted accounting principles. ASU 2015-02 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We are currently evaluating the impact that ASU 2015-02 will have on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest. ASU 2015-03 simplifies the presentation of debt issuance costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU 2015-15, Interest - Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. This standard permits an entity to defer and present debt issuance costs related to line-of-credit arrangements as an asset and to subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement. These new standards do not affect the recognition and measurement of debt issuance costs. ASU 2015-03 and ASU 2015-15 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We do not expect the adoption of ASU 2015-03 and ASU 2015-15 to have a material impact on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software. ASU 2015-05 helps entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement by providing guidance as to whether an arrangement includes the sale or license of software. ASU 2015-05 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We are currently evaluating the impact that ASU 2015-05 will have on our consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330) . Under current FASB standards, an entity is required to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. ASU 2015-11 requires an entity to measure inventory within the scope of this update at the lower of cost and net realizable value. Subsequent measurement is unchanged for inventory measured using last-in, first-out (LIFO) or the retail inventory method. ASU 2015-11 will be effective for our fiscal year beginning October 1, 2017, with early adoption permitted. We are currently evaluating the impact that ASU 2015-11 will have on our consolidated financial statements. In July 2015, the FASB issued ASU 2015-12, Plan accounting: defined benefit pension plans (Topic 960), defined contribution pension plans (Topic 962), health and welfare benefit plans (Topic 965): (Part I) fully benefit-responsive investment contracts, (Part II) plan investment disclosures, (Part III) measurement date practical expedient. This update reduces complexity in employee benefit plan accounting, which is consistent with the FASB’s Simplification initiative. Part I: Fully Benefit-Responsive Investment Contracts , designate contract value as the only required measure for fully benefit-responsive investment contracts, which maintains the relevant information while reducing the cost and complexity of reporting for fully benefit-responsive investment contracts. It removes the requirement that fully benefit-responsive investment contracts be measured at contract value and require an adjustment to reconcile contract value to fair value, when these measures differ, on the face of the plan financial statements. Part II: Plan Investment Disclosures , simplifies and makes more effective the investment disclosure requirements under Topic 820 and under Topics 960, 962, and 965 for employee benefit plans. Part III: Measurement Date Practical Expedient , reduces complexity in employee benefit plan accounting by providing a practical expedient that permits plans to measure investments and investment-related accounts as of a month-end date that is closest to the plan’s fiscal year-end, when the fiscal period does not coincide with month-end. ASU 2015-12 will be effective for our fiscal year beginning October 1, 2016, with early adoption permitted. We are currently evaluating the impact that ASU 2015-12 will have on our consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations . ASU 2015-16 simplifies the accounting for adjustments made to provisional amounts. The amendments in ASU 2015-16 require that the acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amount is determined. The acquirer is also required to record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. In addition, an entity is required to present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 will be effective for our fiscal year beginning on October 1, 2016, with early adoption permitted. We are currently evaluating the impact that ASU 2015-16 will have on our consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, Income Taxes . ASU 2015-17 requires that deferred income tax liabilities and assets be classified as noncurrent in a classified statement of financial position in order to simplify the presentation of deferred income taxes. ASU 2015-17 will be effective for our fiscal year beginning on October 1, 2017, with early adoption permitted. We are currently evaluating the impact that ASU 2015-17 will have on our consolidated financial statements.

Supplemental Balance Sheet In26

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Dec. 31, 2015
Balance Sheet Related Disclosures [Abstract]
Schedule of supplemental balance sheet information	December 31, September 30, Trade accounts receivable reserves $ 20.8 $ 20.0 Accumulated depreciation on property, plant, and equipment $ 305.3 $ 295.2 Accumulated amortization on intangible assets $ 170.9 $ 144.8 Inventories: Raw materials and components $ 43.9 $ 40.1 Work in process 68.2 63.9 Finished goods 54.0 49.6 Total inventories $ 166.1 $ 153.6

Financing Agreements (Tables)

Financing Agreements (Tables)	3 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of borrowings under financing agreements	5. Financing Agreements December 31, September 30, 2015 $700 revolving credit facility (excluding outstanding letters of credit) $ 205.1 $ 107.6 $180 term loan 168.8 171.0 $150 senior unsecured notes, net of discount 149.1 149.1 $100 Series A Notes 100.0 100.0 Other — 0.4 Total debt 623.0 528.1 Less: current portion 10.1 9.4 Total long-term debt $ 612.9 $ 518.7 With respect to the Facility, as of December 31, 2015 , we had $15.1 in outstanding letters of credit issued and $479.8 of maximum borrowing capacity. $343.7 of borrowing capacity is immediately available based on our leverage covenant at December 31, 2015 , with additional amounts available in the event of a qualifying acquisition. The weighted-average interest rates on borrowings under the Facility were 1.21% and 1.27% for the three months ended December 31, 2015 and 2014. The weighted average facility fee was 0.18% and 0.25% for the three months ended December 31, 2015 and 2014. The weighted average interest rate on the term loan was 1.46% and 1.54% for the three months ended December 31, 2015 and 2014. In the normal course of business, the Process Equipment Group provides to certain customers bank guarantees and other credit arrangements in support of performance, warranty, advance payment, and other contractual obligations. This form of trade finance is customary in the industry and, as a result, we are required to maintain adequate capacity to provide the guarantees. As of December 31, 2015 , we had credit arrangements totaling $213.3 , under which $124.5 was utilized for this purpose. These arrangements included our €150.0 Syndicated Letter of Guarantee Facility (as amended, the “LG Facility”) and other ancillary credit facilities. The availability of borrowings under the Facility, the LG Facility, and the Private Shelf Agreement, dated as of December 6, 2012 (the “Shelf Agreement”), among the Company, Prudential Investment Management and each Prudential Affiliate (as defined thereunder), governing the 4.60% Series A unsecured notes (the “Series A Notes”), is subject to our ability to meet certain conditions including compliance with covenants, absence of default, and continued accuracy of certain representations and warranties. Financial covenants include a maximum ratio of Indebtedness to EBITDA (as defined in the agreements) of 3.5

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	Dec. 31, 2015
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Components of net pension costs	U.S. Pension Benefits Non-U.S. Pension Benefits Three Months Ended December 31, Three Months Ended December 31, 2015 2014 2015 2014 Service costs $ 1.0 $ 1.1 $ 0.6 $ 0.4 Interest costs 2.4 3.6 0.6 0.8 Expected return on plan assets (2.4 ) (3.5 ) (0.3 ) (0.3 ) Amortization of unrecognized prior service costs, net 0.1 0.2 — — Amortization of net loss 0.9 1.2 0.2 — Net pension costs $ 2.0 $ 2.6 $ 1.1 $ 0.9

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	Three Months Ended 2015 2014 Net income(1) $ 20.0 $ 29.5 Weighted average shares outstanding (basic - in millions) 63.2 63.1 Effect of dilutive stock options and other unvested equity awards (in millions) 0.6 0.8 Weighted average shares outstanding (diluted - in millions) 63.8 63.9 Basic earnings per share $ 0.32 $ 0.47 Diluted earnings per share $ 0.31 $ 0.46 Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions) 0.5 0.4 (1) Net income attributable to Hillenbrand

Other Comprehensive Income (L30

Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of changes in accumulated other comprehensive income (loss) by component	Pension and Postretirement Currency Translation Net Unrealized Gain (Loss) on Derivative Instruments Total Attributable to Hillenbrand, Inc. Noncontrolling Interests Total Balance at September 30, 2014 $ (46.0 ) $ (4.9 ) $ (1.3 ) $ (52.2 ) Other comprehensive income before reclassifications Before tax amount — (20.0 ) (1.5 ) (21.5 ) $ (0.1 ) $ (21.6 ) Tax expense — — 0.5 0.5 — 0.5 After tax amount — (20.0 ) (1.0 ) (21.0 ) (0.1 ) (21.1 ) Amounts reclassified from accumulated other comprehensive income(1) 0.8 — 0.5 1.3 — 1.3 Net current period other comprehensive income (loss) 0.8 (20.0 ) (0.5 ) (19.7 ) $ (0.1 ) $ (19.8 ) Balance at December 31, 2014 $ (45.2 ) $ (24.9 ) $ (1.8 ) $ (71.9 ) (1) Amounts are net of tax. Pension and Postretirement Currency Translation Net Unrealized Gain (Loss) on Derivative Instruments Total Attributable to Hillenbrand, Inc. Noncontrolling Interests Total Balance at September 30, 2015 $ (54.4 ) $ (52.1 ) $ (1.4 ) $ (107.9 ) Other comprehensive income before reclassifications Before tax amount — (15.1 ) (0.2 ) (15.3 ) $ (0.1 ) $ (15.4 ) Tax expense — — 0.2 0.2 — 0.2 After tax amount — (15.1 ) — (15.1 ) (0.1 ) (15.2 ) Amounts reclassified from accumulated other comprehensive income(1) 0.7 — 0.6 1.3 — 1.3 Net current period other comprehensive income (loss) 0.7 (15.1 ) 0.6 (13.8 ) $ (0.1 ) $ (13.9 ) Balance at December 31, 2015 $ (53.7 ) $ (67.2 ) $ (0.8 ) $ (121.7 ) (1) Amounts are net of tax.
Schedule of reclassifications of AOCI	Reclassifications out of Accumulated Other Comprehensive Income include: Three Months Ended December 31, 2014 Amortization of Pension and Postretirement (1) (Gain)/Loss on Net Loss Recognized Prior Service Costs Recognized Derivative Instruments Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ 0.5 $ 0.5 Cost of goods sold 0.9 0.1 (0.1 ) 0.9 Operating expenses 0.3 0.1 — 0.4 Other income (expense), net — — 0.3 0.3 Total before tax $ 1.2 $ 0.2 $ 0.7 $ 2.1 Tax expense (0.8 ) Total reclassifications for the period, net of tax $ 1.3 Three Months Ended December 31, 2015 Amortization of Pension and Postretirement (1) (Gain)/Loss on Net Loss Recognized Prior Service Costs Recognized Derivative Instruments Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ 0.5 $ 0.5 Cost of goods sold 0.6 0.1 — 0.7 Operating expenses 0.2 — — 0.2 Other income (expense), net — — 0.3 0.3 Total before tax $ 0.8 $ 0.1 $ 0.8 $ 1.7 Tax expense (0.4 ) Total reclassifications for the period, net of tax $ 1.3 (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 6).

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2015
Compensation Related Costs [Abstract]
Schedule of stock-based compensation costs	Three Months Ended 2015 2014 Share-based compensation costs $ 0.6 $ 2.2 Less impact of income tax benefit 0.2 0.8 Share-based compensation costs, net of tax $ 0.4 $ 1.4
Schedule of stock-based awards granted in the period	During the three months ended December 31, 2015 , we made the following grants: Number of Units Stock options 497,774 Time-based stock awards 42,262 Performance-based stock awards (maximum that can be earned) 368,221

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	3 Months Ended
	Dec. 31, 2015
Other Nonoperating Income (Expense) [Abstract]
Other income and expense	Three Months Ended 2015 2014 Equity in net income (loss) of affiliates $ (0.4 ) $ 0.3 Foreign currency exchange loss, net (0.1 ) (0.8 ) Other, net (0.2 ) 0.5 Other income (expense), net $ (0.7 ) $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities at carrying value and fair value and the level within the fair value hierarchy	Carrying Value at Fair Value at December 31, 2015 2015 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 55.1 $ 55.1 $ — $ — Investments in rabbi trust 4.4 4.4 — — Derivative instruments 2.0 — 2.0 — Liabilities: $150 senior unsecured notes 149.1 162.3 — — Revolving credit facility 205.1 — 205.1 — Term loan 168.8 — 168.8 — $100 Series A Notes 100.0 — 99.4 — Derivative instruments 6.4 — 6.4 —

Segment and Geographical Info34

Segment and Geographical Information (Tables)	3 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Schedule of net revenue, adjusted EBITDA, and depreciation and amortization by segment and geographic location	Three Months Ended December 31, 2015 2014 Net revenue Process Equipment Group $ 214.0 $ 256.4 Batesville 137.7 145.1 Total $ 351.7 $ 401.5 Adjusted EBITDA Process Equipment Group $ 33.0 $ 38.1 Batesville 31.8 32.6 Corporate (7.0 ) (7.3 ) Net revenue (1) United States $ 198.9 $ 216.6 International 152.8 184.9 Total $ 351.7 $ 401.5 (1) We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.
Schedule of assets by segment and tangible long-lived assets, net by geographic location	December 31, September 30, 2015 Total assets assigned Process Equipment Group $ 1,578.8 $ 1,537.3 Batesville 217.1 224.9 Corporate 46.9 45.9 Total $ 1,842.8 $ 1,808.1 Tangible long-lived assets, net United States $ 94.1 $ 95.7 International 63.9 62.6 Total $ 158.0 $ 158.3
Schedule of reconciliation of segment adjusted EBITDA to consolidated net income	The following schedule reconciles segment adjusted EBITDA to consolidated net income. Three Months Ended 2015 2014 Adjusted EBITDA: Process Equipment Group $ 33.0 $ 38.1 Batesville 31.8 32.6 Corporate (7.0 ) (7.3 ) Less: Interest income (0.3 ) (0.3 ) Interest expense 5.9 5.7 Income tax expense 8.7 11.8 Depreciation and amortization 16.0 15.0 Business acquisition and integration 1.7 0.3 Inventory step-up 1.4 — Restructuring 3.4 0.7 Litigation — 0.5 Consolidated net income $ 21.0 $ 29.7

Condensed Consolidating Infor35

Condensed Consolidating Information (Tables)	3 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of condensed consolidating statements of income	Three Months Ended December 31, 2015 Three Months Ended December 31, 2014 Parent Guarantors Non- Guarantors Eliminations Consolidated Parent Guarantors Non- Guarantors Eliminations Consolidated Net revenue $ — $ 197.3 $ 205.2 $ (50.8 ) $ 351.7 $ — $ 216.7 $ 233.5 $ (48.7 ) $ 401.5 Cost of goods sold — 102.2 146.7 (25.4 ) 223.5 — 114.3 172.8 (24.0 ) 263.1 Gross profit — 95.1 58.5 (25.4 ) 128.2 — 102.4 60.7 (24.7 ) 138.4 Operating expenses 7.2 60.1 40.2 (25.4 ) 82.1 8.0 60.3 40.0 (24.7 ) 83.6 Amortization expense — 2.3 7.5 — 9.8 0.1 2.6 4.9 — 7.6 Interest expense 5.2 — 0.7 — 5.9 4.9 — 0.8 — 5.7 Other income (expense), net 0.1 (1.0 ) 0.2 — (0.7 ) — — — — — Equity in net income (loss) of subsidiaries 26.4 2.2 — (28.6 ) — 34.1 2.2 — (36.3 ) — Income (loss) before income taxes 14.1 33.9 10.3 (28.6 ) 29.7 21.1 41.7 15.0 (36.3 ) 41.5 Income tax expense (benefit) (5.9 ) 12.0 2.6 — 8.7 (8.4 ) 14.9 5.3 — 11.8 Consolidated net income 20.0 21.9 7.7 (28.6 ) 21.0 29.5 26.8 9.7 (36.3 ) 29.7 Less: Net income attributable to noncontrolling interests — — 1.0 — 1.0 — — 0.2 — 0.2 Net income (loss) (1) $ 20.0 $ 21.9 $ 6.7 $ (28.6 ) $ 20.0 $ 29.5 $ 26.8 $ 9.5 $ (36.3 ) $ 29.5 Consolidated comprehensive income (loss) $ 6.2 $ 30.8 $ (6.8 ) $ (23.1 ) $ 7.1 $ 9.8 $ 27.6 $ 2.3 $ (29.8 ) $ 9.9 Less: Comprehensive income attributable to noncontrolling interests — — 0.9 — 0.9 — — 0.1 — 0.1 Comprehensive income (loss) (2) $ 6.2 $ 30.8 $ (7.7 ) $ (23.1 ) $ 6.2 $ 9.8 $ 27.6 $ 2.2 $ (29.8 ) $ 9.8 (1) Net income attributable to Hillenbrand (2) Comprehensive income attributable to Hillenbrand
Schedule of condensed consolidating balance sheets	December 31, 2015 September 30, 2015 Parent Guarantors Non- Guarantors Eliminations Consolidated Parent Guarantors Non- Guarantors Eliminations Consolidated Cash and cash equivalents $ 0.7 $ 6.5 $ 47.9 $ — $ 55.1 $ 0.3 $ 7.1 $ 40.9 $ — $ 48.3 Trade receivables, net — 98.3 75.1 — 173.4 — 113.4 74.5 — 187.9 Unbilled receivables from long-term manufacturing contracts — 8.4 111.9 — 120.3 — 13.5 131.4 — 144.9 Inventories — 75.0 93.9 (2.8 ) 166.1 — 69.0 87.1 (2.5 ) 153.6 Deferred income taxes 0.2 15.8 3.3 — 19.3 1.8 15.7 4.4 — 21.9 Prepaid expense 2.9 6.3 12.0 — 21.2 2.8 6.5 14.5 — 23.8 Intercompany receivables — 973.1 54.2 (1,027.3 ) — — 921.8 60.2 (982.0 ) — Other current assets 0.3 1.6 17.7 0.7 20.3 0.6 1.9 20.8 0.4 23.7 Total current assets 4.1 1,185.0 416.0 (1,029.4 ) 575.7 5.5 1,148.9 433.8 (984.1 ) 604.1 Property, plant and equipment, net 6.3 65.3 86.4 — 158.0 6.3 66.2 85.8 — 158.3 Intangible assets, net 2.1 173.0 324.7 — 499.8 2.2 175.6 281.8 — 459.6 Goodwill — 211.7 357.5 — 569.2 — 211.7 332.3 — 544.0 Investment in consolidated subsidiaries 2,130.9 842.6 — (2,973.5 ) — 2,082.7 836.1 — (2,918.8 ) — Other assets 22.9 28.7 0.4 (11.9 ) 40.1 24.5 31.0 0.9 (14.3 ) 42.1 Total Assets $ 2,166.3 $ 2,506.3 $ 1,185.0 $ (4,014.8 ) $ 1,842.8 $ 2,121.2 $ 2,469.5 $ 1,134.6 $ (3,917.2 ) $ 1,808.1 Trade accounts payable $ 1.1 $ 19.4 $ 81.2 $ — $ 101.7 $ 0.5 $ 22.7 $ 81.3 $ (0.2 ) $ 104.3 Liabilities from long-term manufacturing contracts and advances — 12.3 57.9 — 70.2 — 13.5 66.2 — 79.7 Current portion of long-term debt 10.1 — — — 10.1 9.0 — 0.4 — 9.4 Accrued compensation 1.5 12.4 26.8 — 40.7 3.9 23.0 35.4 — 62.3 Deferred income taxes — — 19.7 — 19.7 — — 25.4 — 25.4 Intercompany payables 1,024.8 5.3 — (1,030.1 ) — 979.7 4.8 — (984.5 ) — Other current liabilities 9.5 44.7 56.9 1.5 112.6 18.1 46.0 58.6 0.4 123.1 Total current liabilities 1,047.0 94.1 242.5 (1,028.6 ) 355.0 1,011.2 110.0 267.3 (984.3 ) 404.2 Long-term debt 531.3 — 81.6 — 612.9 513.1 — 5.6 — 518.7 Accrued pension and postretirement healthcare 1.1 119.9 94.1 — 215.1 1.1 119.8 97.8 — 218.7 Deferred income taxes — 17.4 26.9 (12.7 ) 31.6 — 17.0 26.5 (14.1 ) 29.4 Other long-term liabilities 1.9 20.6 8.1 — 30.6 1.7 20.4 9.2 — 31.3 Total Liabilities 1,581.3 252.0 453.2 (1,041.3 ) 1,245.2 1,527.1 267.2 406.4 (998.4 ) 1,202.3 Total Hillenbrand Shareholders’ Equity 585.0 2,254.3 719.2 (2,973.5 ) 585.0 594.1 2,202.3 716.5 (2,918.8 ) 594.1 Noncontrolling interests — — 12.6 — 12.6 — — 11.7 — 11.7 Total Equity 585.0 2,254.3 731.8 (2,973.5 ) 597.6 594.1 2,202.3 728.2 (2,918.8 ) 605.8 Total Liabilities and Equity $ 2,166.3 $ 2,506.3 $ 1,185.0 $ (4,014.8 ) $ 1,842.8 $ 2,121.2 $ 2,469.5 $ 1,134.6 $ (3,917.2 ) $ 1,808.1
Schedule of condensed consolidating statements of cash flows	Three Months Ended December 31, 2015 Three Months Ended December 31, 2014 Parent Guarantors Non- Guarantors Eliminations Consolidated Parent Guarantors Non- Guarantors Eliminations Consolidated Net cash provided by (used in) operating activities $ (1.7 ) $ 3.2 $ 34.2 $ — $ 35.7 $ (33.3 ) $ 3.6 $ (12.2 ) $ — $ (41.9 ) Investing activities: Capital expenditures (0.3 ) (3.8 ) (2.4 ) — (6.5 ) (0.3 ) (3.3 ) (2.1 ) — (5.7 ) Proceeds from sales of property, plant, and equipment — — 0.1 — 0.1 — 0.5 — — 0.5 Acquisition of business, net of cash acquired — — (105.7 ) — (105.7 ) — — — — — Other, net — — — — — — (2.4 ) (0.2 ) — (2.6 ) Net cash used in investing activities (0.3 ) (3.8 ) (108.0 ) — (112.1 ) (0.3 ) (5.2 ) (2.3 ) — (7.8 ) Financing activities: Repayments on term loan (3.4 ) — — — (3.4 ) (2.3 ) — — — (2.3 ) Proceeds from revolving credit facilities 79.0 — 103.3 — 182.3 111.5 — 37.8 — 149.3 Repayments on revolving credit facilities (57.5 ) — (24.0 ) — (81.5 ) (157.5 ) — (29.7 ) — (187.2 ) Proceeds from unsecured Series A Notes, net of financing costs — — — — — 99.7 — — — 99.7 Payment of dividends on common stock (12.7 ) — — — (12.7 ) (12.6 ) — — — (12.6 ) Repurchases of common stock (3.0 ) — — — (3.0 ) (6.8 ) — — — (6.8 ) Net proceeds on stock plans (0.8 ) — — — (0.8 ) 1.2 — — — 1.2 Other, net 0.8 — — — 0.8 1.0 — — — 1.0 Net cash provided by financing activities 2.4 — 79.3 — 81.7 34.2 — 8.1 — 42.3 Effect of exchange rates on cash and cash equivalents — — 1.5 — 1.5 — — 1.4 — 1.4 Net cash flow 0.4 (0.6 ) 7.0 — 6.8 0.6 (1.6 ) (5.0 ) — (6.0 ) Cash and equivalents at beginning of period 0.3 7.1 40.9 — 48.3 0.4 10.6 47.0 — 58.0 Cash and equivalents at end of period $ 0.7 $ 6.5 $ 47.9 $ — $ 55.1 $ 1.0 $ 9.0 $ 42.0 $ — $ 52.0

Background and Basis of Prese36

Background and Basis of Presentation - Narrative (Details)	3 Months Ended
	Dec. 31, 2015segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2
Acquired entity subsidiary investments owned percent	100.00%

Supplemental Balance Sheet In37

Supplemental Balance Sheet Information - Schedule of supplemental balance sheet information (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Balance Sheet Related Disclosures [Abstract]
Trade accounts receivable reserves	$ 20.8	$ 20
Accumulated depreciation on property, plant, and equipment	305.3	295.2
Accumulated amortization on intangible assets	170.9	144.8
Inventories:
Raw materials and components	43.9	40.1
Work in process	68.2	63.9
Finished goods	54	49.6
Total inventories	$ 166.1	$ 153.6

Financing Agreements - Schedule

Financing Agreements - Schedule of borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015	Dec. 15, 2014
Financing Agreements
Total debt	$ 623	$ 528.1
Less: current portion	(10.1)	(9.4)
Long-term debt	612.9	518.7
$700 revolving credit facility (excluding outstanding letters of credit)
Financing Agreements
Total debt		107.6
$180 term loan
Financing Agreements
Total debt		171
$150 senior unsecured notes, net of discount
Financing Agreements
Total debt		149.1
$100 Series A Notes
Financing Agreements
Total debt		100
Stated interest rate			4.60%
Borrowings [Member]
Financing Agreements
Total debt	$ 0	$ 0.4

Financing Agreements - Narrativ

Financing Agreements - Narrative (Details)	3 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2015USD ($)	Dec. 19, 2014USD ($)	Dec. 15, 2014
Debt instrument [Line Items]
Total debt	$ 623,000,000		$ 528,100,000
Maximum ratio of Indebtedness to EBITDA allowed	3.5
Minimum ratio of EBITDA to interest expense allowed	3.5
Restricted cash and cash equivalent	$ 700,000		800,000
$700 revolving credit facility (excluding outstanding letters of credit)
Debt instrument [Line Items]
Total debt			107,600,000
Line of credit facility, maximum borrowing capacity	343,700,000			$ 700,000,000
Letters of credit outstanding, amount	15,100,000
Line of credit facility, remaining borrowing capacity	$ 479,800,000
Weighted average interest rates	1.21%	1.27%
Weighted average facility fee	0.18%	0.25%
Term loan
Debt instrument [Line Items]
Total debt			171,000,000
Debt instrument, face amount				$ 180,000,000
Weighted average interest rates	1.46%	1.54%
Other financing agreements
Debt instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 213,300,000
Line of credit facility, amount utilized for bank guarantees	124,500,000
$100 Series A Notes
Debt instrument [Line Items]
Total debt			$ 100,000,000
Stated interest rate					4.60%
Debt instrument, face amount	100,000,000	$ 100,000,000
Syndicated credit facility
Debt instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 150,000,000

Retirement Benefits (Details)

Retirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
U.S. Pension Benefits
Retirement and Postemployment Benefits
Service costs	$ 1	$ 1.1
Interest costs	2.4	3.6
Expected return on plan assets	(2.4)	(3.5)
Amortization of unrecognized prior service costs, net	0.1	0.2
Amortization of net loss	0.9	1.2
Net pension costs	2	2.6
Non-U.S. Pension Benefits
Retirement and Postemployment Benefits
Service costs	0.6	0.4
Interest costs	0.6	0.8
Expected return on plan assets	(0.3)	(0.3)
Amortization of unrecognized prior service costs, net	0	0
Amortization of net loss	0.2	0
Net pension costs	$ 1.1	$ 0.9

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Postemployment Benefits, Period Expense	$ 0.1	$ 0.1
Defined Contribution Plan, Cost Recognized	$ 2.3	$ 2.1

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	29.30%	28.40%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Income per common share
Net income	[1]	$ 20	$ 29.5
Effect of dilutive stock options and other unvested equity awards (in millions)		600,000	800,000
Weighted average shares outstanding (diluted - in millions)		63,800,000	63,900,000
Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions)		500,000	400,000
Performance-based stock awards
Income per common share
Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions)		1,300,000	1,400,000
[1]	Net income attributable to Hillenbrand

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Antidilutive securities excluded from computation of earnings per share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	500,000	400,000
Performance-based stock awards (maximum that can be earned)
Antidilutive securities excluded from computation of earnings per share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	1,300,000	1,400,000

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Cash dividends paid on common stock	$ 12.7	$ 12.6
Shares repurchased	106,000
Amount of shares repurchased	$ 3	$ 6.8
Common stock, shares issued	113,000
Treasury Stock
Class of Stock [Line Items]
Common stock, shares issued	217,000

Other Comprehensive Income (L46

Other Comprehensive Income (Loss) - Schedule of changes in accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period		$ (107.9)
Other comprehensive income before reclassifications
Before tax amount		(15.4)	$ (21.6)
Tax expense		0.2	0.5
After tax amount		(15.2)	(21.1)
Amounts reclassified from accumulated other comprehensive income(1)	[1]	1.3	1.3
Total changes in other comprehensive income (loss), net of tax		(13.9)	(19.8)
Balance at the end of the period		(121.7)
Pension and Postretirement
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period		(54.4)	(46)
Other comprehensive income before reclassifications
Before tax amount		0	0
Tax expense		0	0
After tax amount		0	0
Amounts reclassified from accumulated other comprehensive income(1)	[1]	0.7	0.8
Total changes in other comprehensive income (loss), net of tax		0.7	0.8
Balance at the end of the period		(53.7)	(45.2)
Currency Translation
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period		(52.1)	(4.9)
Other comprehensive income before reclassifications
Before tax amount		(15.1)	(20)
Tax expense		0	0
After tax amount		(15.1)	(20)
Amounts reclassified from accumulated other comprehensive income(1)	[1]	0	0
Total changes in other comprehensive income (loss), net of tax		(15.1)	(20)
Balance at the end of the period		(67.2)	(24.9)
Net Unrealized Gain (Loss) on Derivative Instruments
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period		(1.4)	(1.3)
Other comprehensive income before reclassifications
Before tax amount		(0.2)	(1.5)
Tax expense		0.2	0.5
After tax amount		0	(1)
Amounts reclassified from accumulated other comprehensive income(1)	[1]	0.6	0.5
Total changes in other comprehensive income (loss), net of tax		0.6	(0.5)
Balance at the end of the period		(0.8)	(1.8)
Total Attributable to Hillenbrand, Inc.
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period		(107.9)	(52.2)
Other comprehensive income before reclassifications
Before tax amount		(15.3)	(21.5)
Tax expense		0.2	0.5
After tax amount		(15.1)	(21)
Amounts reclassified from accumulated other comprehensive income(1)	[1]	1.3	1.3
Total changes in other comprehensive income (loss), net of tax		(13.8)	(19.7)
Balance at the end of the period		(121.7)	(71.9)
Noncontrolling Interests
Other comprehensive income before reclassifications
Before tax amount		(0.1)	(0.1)
Tax expense		0	0
After tax amount		(0.1)	(0.1)
Amounts reclassified from accumulated other comprehensive income(1)	[1]	0	0
Total changes in other comprehensive income (loss), net of tax		$ (0.1)	$ (0.1)
[1]	Amounts are net of tax.

Other Comprehensive Income (L47

Other Comprehensive Income (Loss) - Schedule of reclassifications (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Affected Line in the Consolidated Statement of Operations:
Net revenue	[1]	$ (351.7)	$ (401.5)
Cost of goods sold		223.5	263.1
Operating expenses		82.1	83.6
Other income (expense), net		0.7	0
Total before tax		(29.7)	(41.5)
Tax expense		(8.7)	(11.8)
Total reclassifications for the period, net of tax	[2]	$ (20)	(29.5)
Reclassifications out of accumulated other comprehensive income (loss)
Affected Line in the Consolidated Statement of Operations:
Net revenue			0.5
Cost of goods sold			0.9
Operating expenses			0.4
Other income (expense), net			0.3
Total before tax			2.1
Tax expense			0.8
Total reclassifications for the period, net of tax			1.3
Net Loss Recognized | Reclassifications out of accumulated other comprehensive income (loss)
Affected Line in the Consolidated Statement of Operations:
Net revenue			0
Cost of goods sold			0.9
Operating expenses			0.3
Other income (expense), net			0
Total before tax			1.2
Prior Service Costs Recognized | Reclassifications out of accumulated other comprehensive income (loss)
Affected Line in the Consolidated Statement of Operations:
Net revenue			0
Cost of goods sold			0.1
Operating expenses			0.1
Other income (expense), net			0
Total before tax			0.2
Derivative Instruments | Reclassifications out of accumulated other comprehensive income (loss)
Affected Line in the Consolidated Statement of Operations:
Net revenue			0.5
Cost of goods sold			(0.1)
Operating expenses			0
Other income (expense), net			0.3
Total before tax			$ 0.7
[1]	We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.
[2]	Net income attributable to Hillenbrand

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of stock-based compensation costs (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Compensation Related Costs [Abstract]
Share-based compensation costs	$ 0.6	$ 2.2
Less impact of income tax benefit	0.2	0.8
Share-based compensation costs, net of tax	$ 0.4	$ 1.4

Share-Based Compensation - Sc49

Share-Based Compensation - Schedule of stock-based awards granted (Details)	3 Months Ended
	Dec. 31, 2015shares
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period	497,774
Time-based stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted in period	42,262
Performance-based stock awards (maximum that can be earned)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted in period	368,221

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details)	3 Months Ended
	Dec. 31, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based targets for target period	3 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option granted, weighted-average exercise price	$ 31.11
Stock option granted, weighted-average grant date fair value	7.80
Time-based stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, grant date fair value	30.54
Performance-based stock awards (maximum that can be earned)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, grant date fair value	$ 33.11
Performance-based stock awards granted, number of units | shares	194,689
Award performance measurement period	3 years

Other Income (Expense), Net (De

Other Income (Expense), Net (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accumulated other comprehensive income (loss) [Line Items]
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions	$ (0.4)	$ 0.3
Foreign currency exchange loss, net	(0.1)	(0.8)
Other, net	(0.2)	0.5
Other income (expense), net	$ (0.7)	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2015USD ($)
General claims and lawsuits | Minimum
Commitments and Contingencies
Deductibles and self-insured retentions per occurrence or per claim	$ 0.5

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of financial assets and liabilities (Details) - USD ($)	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Dec. 19, 2014	Sep. 30, 2014
Financial assets and liabilities at carrying value and fair value
Cash and cash equivalents	$ 55,100,000	$ 48,300,000	$ 52,000,000		$ 58,000,000
Assets:
Long-term Debt	623,000,000	528,100,000
Level 1
Assets:
Cash and cash equivalents	55,100,000
Investments in rabbi trust	4,400,000
Derivative instruments	0
Liabilities:
Derivative instruments	0
Level 2
Assets:
Cash and cash equivalents	0
Investments in rabbi trust	0
Derivative instruments	2,000,000
Liabilities:
Derivative instruments	6,400,000
Level 3
Assets:
Cash and cash equivalents	0
Investments in rabbi trust	0
Derivative instruments	0
Liabilities:
Derivative instruments	0
$150 senior unsecured notes
Financial assets and liabilities at carrying value and fair value
Debt instrument, face amount	150,000,000		150,000,000
Assets:
Long-term Debt		149,100,000
$150 senior unsecured notes | Level 1
Liabilities:
Debt instruments	162,300,000
$150 senior unsecured notes | Level 2
Liabilities:
Debt instruments	0
$150 senior unsecured notes | Level 3
Liabilities:
Debt instruments	0
Revolving credit facility
Assets:
Long-term Debt		107,600,000
Revolving credit facility | Level 1
Liabilities:
Debt instruments	0
Revolving credit facility | Level 2
Liabilities:
Debt instruments	205,100,000
Revolving credit facility | Level 3
Liabilities:
Debt instruments	0
Term loan
Financial assets and liabilities at carrying value and fair value
Debt instrument, face amount				$ 180,000,000
Assets:
Long-term Debt		171,000,000
Term loan | Level 1
Liabilities:
Debt instruments	0
Term loan | Level 2
Liabilities:
Debt instruments	168,800,000
Term loan | Level 3
Liabilities:
Debt instruments	0
$100 Series A Notes
Financial assets and liabilities at carrying value and fair value
Debt instrument, face amount	100,000,000		$ 100,000,000
Assets:
Long-term Debt		$ 100,000,000
$100 Series A Notes | Level 1
Liabilities:
Debt instruments	0
$100 Series A Notes | Level 2
Liabilities:
Debt instruments	99,400,000
$100 Series A Notes | Level 3
Liabilities:
Debt instruments	0
Derivatives | Cash flow hedging
Financial assets and liabilities at carrying value and fair value
Derivative, notional amount	177,900,000
Carrying value
Financial assets and liabilities at carrying value and fair value
Cash and cash equivalents	55,100,000
Assets:
Investments in rabbi trust	4,400,000
Derivative instruments	2,000,000
Liabilities:
Derivative instruments	6,400,000
Carrying value | $150 senior unsecured notes
Assets:
Long-term Debt	149,100,000
Carrying value | Revolving credit facility
Assets:
Long-term Debt	205,100,000
Carrying value | Term loan
Assets:
Long-term Debt	168,800,000
Carrying value | $100 Series A Notes
Assets:
Long-term Debt	$ 100,000,000

Segment and Geographical Info54

Segment and Geographical Information - Schedule of net revenue and assets by segment (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2015
Segment and Geographical Information
Net revenue	[1]	$ 351.7	$ 401.5
Total assets assigned		1,842.8		$ 1,808.1
Property, plant, and equipment, net		158		158.3
United States
Segment and Geographical Information
Net revenue		198.9	216.6
Property, plant, and equipment, net		94.1		95.7
International
Segment and Geographical Information
Net revenue		152.8	184.9
Property, plant, and equipment, net		63.9		62.6
Operating segments
Segment and Geographical Information
Net revenue		351.7	401.5
Corporate
Segment and Geographical Information
Adjusted EBITDA		(7)	(7.3)
Total assets assigned		46.9		45.9
Process Equipment Group
Segment and Geographical Information
Net revenue		214	256.4
Process Equipment Group | Operating segments
Segment and Geographical Information
Adjusted EBITDA		33	38.1
Total assets assigned		1,578.8		1,537.3
Batesville
Segment and Geographical Information
Net revenue		137.7	145.1
Batesville | Operating segments
Segment and Geographical Information
Adjusted EBITDA		31.8	$ 32.6
Total assets assigned		$ 217.1		$ 224.9
[1]	We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.

Segment and Geographical Info55

Segment and Geographical Information - Schedule of reconciliation of segment (Details 2) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Segment and Geographical Information
Interest income	$ 0.3	$ 0.3
Interest expense	5.9	5.7
Income tax expense	8.7	11.8
Depreciation and amortization	16	15
Business acquisition and integration	1.7	0.3
Business Combination, Inventory Step Up Costs	1.4	0
Restructuring	3.4	0.7
Litigation	0	0.5
Consolidated net income	21	29.7
Corporate
Segment and Geographical Information
Adjusted EBITDA	(7)	(7.3)
Process Equipment Group | Operating segments
Segment and Geographical Information
Adjusted EBITDA	33	38.1
Batesville | Operating segments
Segment and Geographical Information
Adjusted EBITDA	$ 31.8	$ 32.6

Condensed Consolidating Infor56

Condensed Consolidating Information - Consolidating statements of income (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Percentage ownership of subsidiaries with indebtedness guaranteed by the parent		100.00%
Condensed Consolidating Statements of Income
Net revenue	[1]	$ 351.7	$ 401.5
Cost of goods sold		223.5	263.1
Gross profit		128.2	138.4
Operating expenses		82.1	83.6
Amortization expense		9.8	7.6
Interest expense		5.9	5.7
Other income (expense), net		(0.7)	0
Income before income taxes		29.7	41.5
Income tax expense (benefit)		8.7	11.8
Consolidated net income		21	29.7
Less: Net income attributable to noncontrolling interests		1	0.2
Total reclassifications for the period, net of tax	[2]	20	29.5
Consolidated comprehensive income		7.1	9.9
Less: Comprehensive income attributable to noncontrolling interests		0.9	0.1
Comprehensive income (loss)	[3],[4]	6.2	9.8
Reportable legal entities | Parent
Condensed Consolidating Statements of Income
Operating expenses		7.2	8
Amortization expense		0	0.1
Interest expense		5.2	4.9
Other income (expense), net		0.1	0
Equity in net income (loss) of subsidiaries		26.4	34.1
Income before income taxes		14.1	21.1
Income tax expense (benefit)		(5.9)	(8.4)
Consolidated net income		20	29.5
Total reclassifications for the period, net of tax	[2]	20	29.5
Consolidated comprehensive income		6.2	9.8
Comprehensive income (loss)	[4]	6.2	9.8
Reportable legal entities | Guarantors
Condensed Consolidating Statements of Income
Net revenue		197.3	216.7
Cost of goods sold		102.2	114.3
Gross profit		95.1	102.4
Operating expenses		60.1	60.3
Amortization expense		2.3	2.6
Interest expense		0	0
Other income (expense), net		(1)	0
Equity in net income (loss) of subsidiaries		2.2	2.2
Income before income taxes		33.9	41.7
Income tax expense (benefit)		12	14.9
Consolidated net income		21.9	26.8
Total reclassifications for the period, net of tax	[2]	21.9	26.8
Consolidated comprehensive income		30.8	27.6
Comprehensive income (loss)	[4]	30.8	27.6
Reportable legal entities | Non-Guarantors
Condensed Consolidating Statements of Income
Net revenue		205.2	233.5
Cost of goods sold		146.7	172.8
Gross profit		58.5	60.7
Operating expenses		40.2	40
Amortization expense		7.5	4.9
Interest expense		0.7	0.8
Other income (expense), net		0.2	0
Income before income taxes		10.3	15
Income tax expense (benefit)		2.6	5.3
Consolidated net income		7.7	9.7
Less: Net income attributable to noncontrolling interests		1	0.2
Total reclassifications for the period, net of tax	[2]	6.7	9.5
Consolidated comprehensive income		(6.8)	2.3
Less: Comprehensive income attributable to noncontrolling interests		0.9	0.1
Comprehensive income (loss)	[4]	(7.7)	2.2
Eliminations
Condensed Consolidating Statements of Income
Net revenue		(50.8)	(48.7)
Cost of goods sold		(25.4)	(24)
Gross profit		(25.4)	(24.7)
Operating expenses		(25.4)	(24.7)
Other income (expense), net		0
Equity in net income (loss) of subsidiaries		(28.6)	(36.3)
Income before income taxes		(28.6)	(36.3)
Consolidated net income		(28.6)	(36.3)
Total reclassifications for the period, net of tax	[2]	(28.6)	(36.3)
Consolidated comprehensive income		(23.1)	(29.8)
Comprehensive income (loss)	[4]	$ (23.1)	$ (29.8)
[1]	We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.
[2]	Net income attributable to Hillenbrand
[3]	Comprehensive income attributable to Hillenbrand
[4]	Comprehensive income attributable to Hillenbrand

Condensed Consolidating Infor57

Condensed Consolidating Information - Consolidating balance sheet (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
ASSETS
Cash and cash equivalents	$ 55.1	$ 48.3	$ 52	$ 58
Trade receivables, net	173.4	187.9
Unbilled receivables from long-term manufacturing contracts	120.3	144.9
Inventories	166.1	153.6
Deferred income taxes	19.3	21.9
Prepaid expense	21.2	23.8
Other current assets	20.3	23.7
Total current assets	575.7	604.1
Property, plant, and equipment, net	158	158.3
Intangible assets, net	499.8	459.6
Goodwill	569.2	544
Other assets	40.1	42.1
Total Assets	1,842.8	1,808.1
LIABILITIES
Trade accounts payable	101.7	104.3
Liabilities from long-term manufacturing contracts and advances	70.2	79.7
Current portion of long-term debt	10.1	9.4
Accrued compensation	40.7	62.3
Deferred income taxes	19.7	25.4
Other current liabilities	112.6	123.1
Total current liabilities	355	404.2
Long-term debt	612.9	518.7
Accrued pension and postretirement healthcare	215.1	218.7
Deferred income taxes	31.6	29.4
Other long-term liabilities	30.6	31.3
Total Liabilities	1,245.2	1,202.3
Hillenbrand Shareholders’ Equity	585	594.1
Stockholders' Equity Attributable to Parent [Abstract]
Noncontrolling interests	12.6	11.7
Total Shareholders’ Equity	597.6	605.8
Total Liabilities and Equity	1,842.8	1,808.1
Reportable legal entities | Parent
ASSETS
Cash and cash equivalents	0.7	0.3	1	0.4
Deferred income taxes	0.2	1.8
Prepaid expense	2.9	2.8
Intercompany receivables	0	0
Other current assets	0.3	0.6
Total current assets	4.1	5.5
Property, plant, and equipment, net	6.3	6.3
Intangible assets, net	2.1	2.2
Investment in consolidated subsidiaries	2,130.9	2,082.7
Other assets	22.9	24.5
Total Assets	2,166.3	2,121.2
LIABILITIES
Trade accounts payable	1.1	0.5
Current portion of long-term debt	10.1	9
Accrued compensation	1.5	3.9
Intercompany payables	1,024.8	979.7
Other current liabilities	9.5	18.1
Total current liabilities	1,047	1,011.2
Long-term debt	531.3	513.1
Accrued pension and postretirement healthcare	1.1	1.1
Deferred income taxes	0	0
Other long-term liabilities	1.9	1.7
Total Liabilities	1,581.3	1,527.1
Hillenbrand Shareholders’ Equity	585	594.1
Stockholders' Equity Attributable to Parent [Abstract]
Total Shareholders’ Equity	585	594.1
Total Liabilities and Equity	2,166.3	2,121.2
Reportable legal entities | Guarantors
ASSETS
Cash and cash equivalents	6.5	7.1	9	10.6
Trade receivables, net	98.3	113.4
Unbilled receivables from long-term manufacturing contracts	8.4	13.5
Inventories	75	69
Deferred income taxes	15.8	15.7
Prepaid expense	6.3	6.5
Intercompany receivables	973.1	921.8
Other current assets	1.6	1.9
Total current assets	1,185	1,148.9
Property, plant, and equipment, net	65.3	66.2
Intangible assets, net	173	175.6
Goodwill	211.7	211.7
Investment in consolidated subsidiaries	842.6	836.1
Other assets	28.7	31
Total Assets	2,506.3	2,469.5
LIABILITIES
Trade accounts payable	19.4	22.7
Liabilities from long-term manufacturing contracts and advances	12.3	13.5
Accrued compensation	12.4	23
Deferred income taxes		0
Intercompany payables	5.3	4.8
Other current liabilities	44.7	46
Total current liabilities	94.1	110
Accrued pension and postretirement healthcare	119.9	119.8
Deferred income taxes	17.4	17
Other long-term liabilities	20.6	20.4
Total Liabilities	252	267.2
Hillenbrand Shareholders’ Equity	2,254.3	2,202.3
Stockholders' Equity Attributable to Parent [Abstract]
Total Shareholders’ Equity	2,254.3	2,202.3
Total Liabilities and Equity	2,506.3	2,469.5
Reportable legal entities | Non-Guarantors
ASSETS
Cash and cash equivalents	47.9	40.9	$ 42	$ 47
Trade receivables, net	75.1	74.5
Unbilled receivables from long-term manufacturing contracts	111.9	131.4
Inventories	93.9	87.1
Deferred income taxes	3.3	4.4
Prepaid expense	12	14.5
Intercompany receivables	54.2	60.2
Other current assets	17.7	20.8
Total current assets	416	433.8
Property, plant, and equipment, net	86.4	85.8
Intangible assets, net	324.7	281.8
Goodwill	357.5	332.3
Other assets	0.4	0.9
Total Assets	1,185	1,134.6
LIABILITIES
Trade accounts payable	81.2	81.3
Liabilities from long-term manufacturing contracts and advances	57.9	66.2
Current portion of long-term debt	0	0.4
Accrued compensation	26.8	35.4
Deferred income taxes	19.7	25.4
Other current liabilities	56.9	58.6
Total current liabilities	242.5	267.3
Long-term debt	81.6	5.6
Accrued pension and postretirement healthcare	94.1	97.8
Deferred income taxes	26.9	26.5
Other long-term liabilities	8.1	9.2
Total Liabilities	453.2	406.4
Hillenbrand Shareholders’ Equity	719.2	716.5
Stockholders' Equity Attributable to Parent [Abstract]
Noncontrolling interests	12.6	11.7
Total Shareholders’ Equity	731.8	728.2
Total Liabilities and Equity	1,185	1,134.6
Consolidation, Eliminations [Member]
ASSETS
Inventories	(2.8)	(2.5)
Intercompany receivables	(1,027.3)	(982)
Other current assets	0.7	0.4
Total current assets	(1,029.4)	(984.1)
Investment in consolidated subsidiaries	(2,973.5)	(2,918.8)
Other assets	(11.9)	(14.3)
Total Assets	(4,014.8)	(3,917.2)
LIABILITIES
Trade accounts payable	0	(0.2)
Intercompany payables	(1,030.1)	(984.5)
Other current liabilities	1.5	0.4
Total current liabilities	(1,028.6)	(984.3)
Deferred income taxes	(12.7)	(14.1)
Other long-term liabilities	0
Total Liabilities	(1,041.3)	(998.4)
Hillenbrand Shareholders’ Equity	(2,973.5)	(2,918.8)
Stockholders' Equity Attributable to Parent [Abstract]
Total Shareholders’ Equity	(2,973.5)	(2,918.8)
Total Liabilities and Equity	$ (4,014.8)	$ (3,917.2)

Condensed Consolidating Infor58

Condensed Consolidating Information - Consolidating cash flow statement (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Condensed Cash Flow Statements
Net cash provided by (used in) operating activities	$ 35.7	$ (41.9)
Investing activities:
Capital expenditures	(6.5)	(5.7)
Proceeds from sales of property, plant, and equipment	0.1	0.5
Payments to Acquire Businesses, Net of Cash Acquired	105.7	0
Other, net	0	(2.6)
Net cash used in investing activities	(112.1)	(7.8)
Financing activities:
Repayments on term loan	(3.4)	(2.3)
Proceeds from revolving credit facilities	182.3	149.3
Repayments on revolving credit facilities	(81.5)	(187.2)
Proceeds from unsecured Series A Notes, net of financing costs	0	99.7
Proceeds from Issuance of Unsecured Debt		99.7
Payment of dividends on common stock	(12.7)	(12.6)
Repurchases of common stock	(3)	(6.8)
Net proceeds (payments) on stock plans	(0.8)	1.2
Other, net	0.8	1
Net cash provided by financing activities	81.7	42.3
Effect of exchange rates on cash and cash equivalents	1.5	1.4
Net cash flows	6.8	(6)
At beginning of period	48.3	58
At end of period	55.1	52
Reportable legal entities | Parent
Condensed Cash Flow Statements
Net cash provided by (used in) operating activities	(1.7)	(33.3)
Investing activities:
Capital expenditures	(0.3)	(0.3)
Proceeds from sales of property, plant, and equipment		0
Other, net		0
Net cash used in investing activities	(0.3)	(0.3)
Financing activities:
Repayments on term loan	(3.4)	(2.3)
Proceeds from revolving credit facilities	79	111.5
Repayments on revolving credit facilities	(57.5)	(157.5)
Proceeds from unsecured Series A Notes, net of financing costs	0
Proceeds from Issuance of Unsecured Debt		99.7
Payment of dividends on common stock	(12.7)	(12.6)
Repurchases of common stock	(3)	(6.8)
Net proceeds (payments) on stock plans	(0.8)	1.2
Other, net	0.8	1
Net cash provided by financing activities	2.4	34.2
Net cash flows	0.4	0.6
At beginning of period	0.3	0.4
At end of period	0.7	1
Reportable legal entities | Guarantors
Condensed Cash Flow Statements
Net cash provided by (used in) operating activities	3.2	3.6
Investing activities:
Capital expenditures	(3.8)	(3.3)
Proceeds from sales of property, plant, and equipment	0	0.5
Other, net	0	(2.4)
Net cash used in investing activities	(3.8)	(5.2)
Financing activities:
Net cash provided by financing activities	0	0
Net cash flows	(0.6)	(1.6)
At beginning of period	7.1	10.6
At end of period	6.5	9
Reportable legal entities | Non-Guarantors
Condensed Cash Flow Statements
Net cash provided by (used in) operating activities	34.2	(12.2)
Investing activities:
Capital expenditures	(2.4)	(2.1)
Proceeds from sales of property, plant, and equipment	(0.1)
Payments to Acquire Businesses, Net of Cash Acquired	(105.7)
Other, net	0	(0.2)
Net cash used in investing activities	(108)	(2.3)
Financing activities:
Proceeds from revolving credit facilities	103.3	37.8
Repayments on revolving credit facilities	(24)	(29.7)
Proceeds from unsecured Series A Notes, net of financing costs	0
Other, net	0	0
Net cash provided by financing activities	79.3	8.1
Effect of exchange rates on cash and cash equivalents	1.5	1.4
Net cash flows	7	(5)
At beginning of period	40.9	47
At end of period	47.9	42
Eliminations
Condensed Cash Flow Statements
Net cash provided by (used in) operating activities	0	0
Financing activities:
Net cash provided by financing activities	$ 0	$ 0

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Restructuring and Related Cost
Restructuring charges	$ 3.4	$ 1.9
Restructuring	3.4	0.7
Restructuring reserve, current	1.3
Corporate
Restructuring and Related Cost
Restructuring charges	0.2	0.4
Process Equipment Group
Restructuring and Related Cost
Restructuring charges	3.2	0.3
Batesville
Restructuring and Related Cost
Restructuring charges	0	1.2
Operating expense
Restructuring and Related Cost
Restructuring charges	1.4	0.7
Operating expense | Process Equipment Group
Restructuring and Related Cost
Restructuring charges	1.2	0.3
Operating expense | Batesville
Restructuring and Related Cost
Restructuring charges	0	0
Operating expense | Corporate
Restructuring and Related Cost
Restructuring charges	0.2	0.4
Cost of goods, segment | Process Equipment Group
Restructuring and Related Cost
Restructuring charges	2	0
Cost of goods, segment | Batesville
Restructuring and Related Cost
Restructuring charges	0	1.2
Cost of goods, segment | Corporate
Restructuring and Related Cost
Restructuring charges	0	0
Cost of Goods, Total [Member]
Restructuring and Related Cost
Restructuring charges	$ 2	$ 1.2

Business Acquisitions (Details)

Business Acquisitions (Details) € in Millions	Feb. 01, 2016USD ($)	Oct. 02, 2015USD ($)	Oct. 02, 2015EUR (€)	Dec. 31, 2015USD ($)	Dec. 19, 2014USD ($)
Business Acquisition [Line Items]
Business Acquisition, Transaction Costs				$ 1,700,000
ABEL Pumps LP and Abel GmbH & Co. KG [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross		$ 105,700,000	€ 95
Goodwill, Acquired During Period		35,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		58,000,000
$700 revolving credit facility (excluding outstanding letters of credit)
Business Acquisition [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 343,700,000	$ 700,000,000
$180 term loan
Business Acquisition [Line Items]
Debt Instrument, Face Amount					$ 180,000,000
Technology [Member] | ABEL Pumps LP and Abel GmbH & Co. KG [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		9,000,000
Trade Names [Member] | ABEL Pumps LP and Abel GmbH & Co. KG [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		5,000,000
Order or Production Backlog [Member] | ABEL Pumps LP and Abel GmbH & Co. KG [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		3,000,000
Customer Relationships [Member] | ABEL Pumps LP and Abel GmbH & Co. KG [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 41,000,000
Subsequent Event [Member] | Red Valve Company, Inc. [Member] [Domain]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 131,900,000
Payments to Acquire Real Estate	$ 3,300,000