Hillenbrand (HI) 10-Q 3 May 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2017	Apr. 27, 2017
Document and Entity Information
Entity Registrant Name	Hillenbrand, Inc.
Entity Central Index Key	1,417,398
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
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		62,975,529
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Net revenue	[1]	$ 395.3	$ 387	$ 751.4	$ 738.7
Cost of goods sold		246.7	244.3	476.8	467.8
Gross profit		148.6	142.7	274.6	270.9
Operating expenses		85.6	87.3	168.4	169.4
Amortization of Intangible Assets		7.2	8.6	14.4	18.4
Interest expense		6.3	6.4	12.4	12.3
Other (expense) income, net		(0.6)	(0.9)	(1.9)	(1.6)
Income before income taxes		48.9	39.5	77.5	69.2
Income tax expense		14.9	12.3	21.6	21
Consolidated net income		34	27.2	55.9	48.2
Less: Net income attributable to noncontrolling interests		0.6	1.1	0.8	2.1
Net income	[2]	$ 33.4	$ 26.1	$ 55.1	$ 46.1
Net income - per share of common stock:
Basic earnings per share		$ 0.52	$ 0.41	$ 0.86	$ 0.73
Diluted earnings per share		$ 0.52	$ 0.41	$ 0.86	$ 0.72
Weighted average shares outstanding (basic)		63.9	63.3	63.8	63.3
Weighted average shares outstanding (diluted)		64.4	63.8	64.3	63.8
Cash dividends declared per share		$ 0.2050	$ 0.2025	$ 0.4100	$ 0.4050
[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		6 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Consolidated net income		$ 34	$ 27.2	$ 55.9	$ 48.2
Changes in other comprehensive income (loss), net of tax
Currency translation adjustment		7.5	19.6	(13.4)	4.4
Pension and postretirement (net of quarter-to-date tax of $2.5 and $0.8 and year-to-date tax of $5.0 and $1.2)		4.5	(0.2)	8.9	0.5
Change in net unrealized gain (loss) on derivative instruments (net of quarter-to-date tax of $0.5 and $1.1 and year-to-date tax of $0.8 and $1.1)		1.1	0.4	1.5	1
Total changes in other comprehensive income (loss), net of tax		13.1	19.8	(3)	5.9
Consolidated comprehensive income		47.1	47	52.9	54.1
Less: Comprehensive income attributable to noncontrolling interests		0.9	1.1	1	2
Comprehensive income (loss)	[1],[2]	$ 46.2	$ 45.9	$ 51.9	$ 52.1
[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		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Pension and postretirement, tax	$ 2.5	$ 0.8	$ 5	$ 1.2
Change in net unrealized gain (loss) on derivative instruments, tax	$ 0.5	$ 1.1	$ 0.8	$ 1.1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Current Assets
Cash and cash equivalents	$ 51.4	$ 52
Trade receivables, net	193.2	205
Unbilled receivables from long-term manufacturing contracts	139.1	125.8
Inventories	150.2	153.1
Deferred income taxes	0	23.9
Prepaid expenses	23.5	18.2
Other current assets	20	22.3
Total current assets	577.4	600.3
Property, plant, and equipment, net	145.4	152.5
Intangible assets, net	516.2	541.5
Goodwill	620	634.3
Other assets	34.2	31.1
Total Assets	1,893.2	1,959.7
Current Liabilities
Trade accounts payable	132.3	135.7
Liabilities from long-term manufacturing contracts and advances	90.6	78.6
Current portion of long-term debt	16.2	13.8
Accrued compensation	50.5	57.3
Deferred income taxes	0	22.8
Other current liabilities	119.5	125.5
Total current liabilities	409.1	433.7
Long-term debt	606.4	595.1
Accrued pension and postretirement healthcare	132.9	232.7
Deferred income taxes	45.4	22.6
Other long-term liabilities	27.6	29.4
Total Liabilities	1,221.4	1,313.5
Commitments and contingencies (Note 14)
SHAREHOLDERS’ EQUITY
Common stock, no par value (63.8 and 63.7 shares issued, 63.3 and 63.0 shares outstanding)	0	0
Additional paid-in capital	346.6	348.7
Retained earnings	461.9	433.3
Treasury stock (0.5 and 0.7 shares)	(18.6)	(19.9)
Accumulated other comprehensive loss	(133)	(129.8)
Hillenbrand Shareholders’ Equity	656.9	632.3
Noncontrolling interests	14.9	13.9
Total Shareholders’ Equity	671.8	646.2
Total Liabilities and Equity	$ 1,893.2	$ 1,959.7

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Sep. 30, 2016
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)
Common stock, shares issued	63,800,000	63,700,000
Common stock, shares outstanding	63,300,000	63,000,000
Treasury stock, shares	500,000	700,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flow - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating Activities
Consolidated net income	$ 55.9	$ 48.2
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	28.6	31.9
Deferred income taxes	17.3	(0.8)
Share-based compensation	5.7	3.7
Gain (Loss) on Investments	(1)	0.5
Trade accounts receivable and receivables on long-term manufacturing contracts	(8.3)	30.1
Inventories	0.1	5
Prepaid expenses and other current assets	(5.5)	6.2
Trade accounts payable	0.4	(1.8)
Accrued expenses and other current liabilities	11.5	(27.8)
Income taxes payable	(5.7)	(4.5)
Defined benefit plan and postretirement funding	(85.3)	(5.9)
Defined benefit plan and postretirement expense	3.5	6.1
Other, net	2.6	(3.7)
Net cash provided by operating activities	19.8	87.2
Investing Activities
Capital expenditures	(9.1)	(9.1)
Proceeds from sales of property, plant, and equipment	2.2	0.9
Payments to Acquire Businesses, Net of Cash Acquired	0	(237)
Other, net	(0.1)	0
Net cash used in investing activities	(7)	(245.2)
Financing Activities
Repayments on term loan	(6.7)	(4.5)
Proceeds from revolving credit facilities	551.7	387.5
Repayments on revolving credit facilities	(524.8)	(199.1)
Payments of dividends on common stock	(26)	(25.4)
Repurchases of common stock	(17)	(4)
Net proceeds (payments) on stock plans	10.2	(0.5)
Other, net	(0.2)	0.5
Net cash (used in) provided by financing activities	(12.8)	154.5
Effect of exchange rates on cash and cash equivalents	(0.6)	(1.6)
Net cash flows	(0.6)	(5.1)
Cash and cash equivalents:
At beginning of period	52	48.3
At end of period	$ 51.4	$ 43.2

Background and Basis of Present

Background and Basis of Presentation	6 Months Ended
	Mar. 31, 2017
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 with multiple market-leading brands that serve a wide variety of industries across the globe. We strive to provide superior return for our shareholders, exceptional value for our customers, and great professional opportunities for our employees through deployment of the Hillenbrand Operating Model (“HOM”). The HOM is a consistent and repeatable framework designed to produce sustainable and predictable results. The HOM describes our mission, vision, values, and mindset as leaders; applies our management practices in Strategy Management, Segmentation, Lean, Talent Development, and Acquisitions; and prescribes three steps (Understand, Focus and Grow) designed to make our businesses both bigger and better. Our goal is to continue developing Hillenbrand as a world-class global diversified industrial company through the deployment of the HOM. 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. 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, 2016 , as filed with the SEC. The September 30, 2016 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 incentive compensation programs.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Mar. 31, 2017
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 2016 . 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 2016 . Recently Adopted Accounting Standards 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant impact 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant impact 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 became effective and were retrospectively adopted for our fiscal year beginning October 1, 2016. The retrospective adoption resulted in $1.2 of debt issuance costs being reclassified from other assets to a reduction of the carrying value of long-term debt as of September 30, 2016. 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant impact 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant impact 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 was early adopted for our fiscal year beginning October 1, 2016. The adoption of this standard resulted in a reclassification of $3.1 from current deferred income taxes to non-current deferred income taxes on the Consolidated Balance Sheets as of March 31, 2017. No periods prior to adoption were retrospectively adjusted. 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. The FASB has also issued several updates to ASU 2014-09. The new standard supersedes U.S. GAAP guidance on revenue recognition and requires the use of more estimates and judgments than the present standards. It also requires significant disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. 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 have not yet selected a transition method, but we have begun the assessment process and are currently evaluating the impact that ASU 2014-09 will have on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases . ASU 2016-02 requires lessees to recognize a right of use asset and related lease liability for leases that have terms of more than twelve months. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance, with the classifications based on criteria that are similar to those applied under the current lease guidance, without the explicit bright lines. ASU 2016-02 will be effective for our fiscal year beginning on October 1, 2019, with early adoption permitted. We are currently evaluating the impact that ASU 2016-02 will have on our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows: Restricted Cash. ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-17 will be effective for our fiscal year beginning on October 1, 2018, with early adoption permitted. We expect the adoption of ASU 2016-18 to have a financial statement presentation and disclosure impact only. In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business . ASU 2017-01 assists entities in determining whether a transaction involves an asset or a business. Specifically, it states that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. If this initial test is not met, a set cannot be considered a business unless it includes an input and a substantive process that together significantly contribute to the ability to create output. ASU 2017-01 will be effective for our fiscal year beginning on October 1, 2018, with early adoption permitted. We are currently evaluating ASU 2017-01, but do not expect a significant impact on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment. ASU 2017-04 eliminates Step 2 from the goodwill impairment test and modifies the concept of impairment from the condition that exists when the carrying amount of goodwill exceeds its implied fair value to the condition that exists when the carrying amount of a reporting unit exceeds its fair value. ASU 2017-04 will be effective for our fiscal year beginning on October 1, 2020, with early adoption permitted. We are evaluating the application of this ASU on the Company’s annual impairment test. We are currently evaluating the impact that ASU 2017-04 will have on our consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . ASU 2017-07 states that an employer must report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period and present the other components of net benefit cost (as defined in paragraphs 715-30-35-4 and 715-60-35-9) in the income statement separately from the service cost component and outside a subtotal of income from operations (if one is presented). In addition, ASU 2017-07 limits the capitalization of compensation costs to the service cost component only (if capitalization is appropriate). ASU 2017-07 will be effective for our fiscal year beginning on October 1, 2018, with early adoption permitted. We are currently evaluating the impact that ASU 2017-07 will have on our consolidated financial statements.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	6 Months Ended
	Mar. 31, 2017
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information March 31, September 30, Trade accounts receivable reserves $ 21.2 $ 21.0 Accumulated depreciation on property, plant, and equipment $ 304.8 $ 299.4 Inventories: Raw materials and components $ 48.5 $ 51.4 Work in process 56.1 54.0 Finished goods 45.6 47.7 Total inventories $ 150.2 $ 153.1

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Notes)	6 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	Intangible Assets and Goodwill Intangible Assets Intangible assets are stated at the lower of cost or fair value. With the exception of most trade names, intangible assets are amortized on a straight-line basis over periods ranging from three to 21 years, representing the period over which we expect to receive future economic benefits from these assets. We assess the carrying value of most trade names annually, or more often if events or changes in circumstances indicate there may be impairment. The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of March 31, 2017 and September 30, 2016 . March 31, 2017 September 30, 2016 Cost Accumulated Amortization Cost Accumulated Amortization Finite-lived assets: Trade names $ 0.2 $ (0.1 ) $ 0.2 $ (0.1 ) Customer relationships 450.9 (110.4 ) 459.5 (100.7 ) Technology, including patents 75.9 (35.5 ) 77.9 (33.3 ) Software 47.8 (40.7 ) 47.4 (39.8 ) Other 0.4 (0.3 ) 0.4 (0.3 ) 575.2 (187.0 ) 585.4 (174.2 ) Indefinite-lived assets: Trade names 128.0 — 130.3 — Total $ 703.2 $ (187.0 ) $ 715.7 $ (174.2 ) The net change in intangible assets during the six months ended March 31, 2017 was driven by normal amortization and foreign currency translation. In the third quarter of 2016, the Company recorded a trade name impairment charge of $2.2 , included in operating expenses, on two trade names related to the Process Equipment Group segment. The decline in the estimated fair value of these trade names was largely driven by the decreased demand for equipment and parts used in coal mining and coal power. As of March 31, 2017, we had approximately $13 of trade name book value in the Process Equipment Group segment significantly related to coal mining and coal power. Goodwill Goodwill is not amortized, but is subject to annual impairment tests. Goodwill has been assigned to reporting units. We assess the carrying value of goodwill annually, or more often if events or changes in circumstances indicate there may be impairment. Impairment testing is performed at a reporting unit level. Process Equipment Group Batesville Total Balance September 30, 2016 $ 626.0 $ 8.3 $ 634.3 Acquisitions, including purchase price adjustments (0.9 ) — (0.9 ) Foreign currency adjustments (13.4 ) — (13.4 ) Balance March 31, 2017 $ 611.7 $ 8.3 $ 620.0

Financing Agreements

Financing Agreements	6 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Financing Agreements	Financing Agreements March 31, September 30, $700 revolving credit facility (excluding outstanding letters of credit) $ 218.5 $ 198.5 $180 term loan 155.3 162.0 $150 senior unsecured notes, net of discount (1) 148.7 148.5 $100 Series A Notes (2) 99.6 99.6 Other 0.5 0.3 Total debt 622.6 608.9 Less: current portion 16.2 13.8 Total long-term debt $ 606.4 $ 595.1 (1) Includes debt issuance costs of $0.7 and $0.8 at March 31, 2017 and September 30, 2016. (2) Includes debt issuance costs of $0.4 and $0.4 at March 31, 2017 and September 30, 2016. With respect to the Facility, as of March 31, 2017 , we had $9.1 in outstanding letters of credit issued and $472.4 of maximum borrowing capacity. $353.2 of this borrowing capacity is immediately available based on our leverage covenant at March 31, 2017 , with additional amounts available in the event of a qualifying acquisition. The weighted-average interest rates on borrowings under the revolving credit facility were 1.44% and 1.42% for the three and six months ended March 31, 2017 , and 1.46% and 1.35% for the same periods in the prior year. The weighted average facility fee was 0.23% for the three and six months ended March 31, 2017 , and 0.21% and 0.19% for the same periods in the prior year. The weighted average interest rate on the term loan was 2.16% and 2.05% for the three and six months ended March 31, 2017 , and 1.76% and 1.61% for the same periods in the prior year. We have interest rate swaps on $50.0 of outstanding borrowings under the Facility in order to manage exposure to our variable interest payments. 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 March 31, 2017 , we had credit arrangements totaling $206.4 , under which $118.9 was utilized for this purpose. These arrangements include our €150.0 Syndicated Letter of Guarantee Facility (as amended, the “LG Facility”) and other ancillary guarantee facilities. 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”), require us 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 (as defined in the agreements) to interest expense of 3.5 to 1.0. As of March 31, 2017 , 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 $3.3 and $0.8 included in other current assets in the Consolidated Balance Sheets at March 31, 2017 and September 30, 2016 . In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest , which requires 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. This standard became effective and was retrospectively adopted for our fiscal year beginning October 1, 2016. As of March 31, 2017 and September 30, 2016, there were $1.1 and $1.2 in debt issuance costs recorded as a reduction in the carrying value of the related debt liability under the senior unsecured notes and Series A Notes. The $1.1 in debt issuance costs as of March 31, 2017 will be amortized over the remaining term of the senior unsecured notes and Series A Notes. The retrospective adoption resulted in $1.2 of debt issuance costs being reclassified from other assets to a reduction of the carrying value of long-term debt as of September 30, 2016. The Company also adopted ASU 2015-15, Interest - Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements , and elected not to reclassify the debt issuance costs related to line-of-credit arrangements for the Facility and LG Facility.

Retirement Benefits

Retirement Benefits	6 Months Ended
	Mar. 31, 2017
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 March 31, Three Months Ended March 31, 2017 2016 2017 2016 Service costs $ 0.9 $ 1.0 $ 0.4 $ 0.5 Interest costs 2.1 2.3 0.1 0.3 Expected return on plan assets (3.4 ) (2.4 ) (0.2 ) (0.2 ) Amortization of unrecognized prior service costs, net 0.1 0.2 — — Amortization of net loss 1.0 0.9 0.7 0.2 Net pension costs $ 0.7 $ 2.0 $ 1.0 $ 0.8 U.S. Pension Benefits Non-U.S. Pension Benefits Six Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Service costs $ 1.9 $ 2.0 $ 0.8 $ 1.1 Interest costs 4.3 4.7 0.3 0.9 Expected return on plan assets (6.7 ) (4.8 ) (0.3 ) (0.5 ) Amortization of unrecognized prior service costs, net 0.2 0.3 — — Amortization of net loss 2.1 1.8 0.7 0.4 Net pension costs $ 1.8 $ 4.0 $ 1.5 $ 1.9 During the first quarter of 2017, we made an $ 80.0 contribution to our U.S. defined benefit pension plan (the “Plan”) using funds borrowed from our Facility. Although this action increased Plan assets and reduces expected 2017 pension expense, the majority of the pension expense savings in 2017 from this action is expected to be offset by the additional interest expense on the funds borrowed and certain tax effects from the transaction. Also during the first and second quarters of 2017, we began implementing a plan to transition our U.S. employees not covered by a collective bargaining agreement and our employees covered by a collective bargaining agreement at one of our facilities from a defined benefit-based model to a defined contribution structure over a three-year sunset period. This change caused remeasurements for the Plan for the affected populations. The remeasurements did not cause a material change as the assumptions did not materially differ from the assumptions at September 30, 2016. Postretirement Healthcare Plans — Net postretirement healthcare costs were $0.1 and $0.2 for the three and six months ended March 31, 2017 , and $0.1 and $0.2 for the same periods in the prior year. Defined Contribution Plans — Expenses related to our defined contribution plans were $3.1 and $5.7 for the three and six months ended March 31, 2017 , and $2.3 and $4.6 for the same periods in the prior year.

Income Taxes

Income Taxes	6 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rates for the three months ended March 31, 2017 and 2016 were 30.5% and 31.1% . The decrease in the effective tax rate during the three months ended March 31, 2017 was primarily due to an increase in the reserve for unrecognized tax benefits that occurred in 2016 but did not repeat in 2017 and the tax benefit recognized on share-based compensation in 2017. These favorable items were partially offset by a reduction of the tax benefit from the domestic manufacturer’s deduction that resulted from the contribution to the Plan as described above and an unfavorable geographic mix of pretax income. The effective tax rates for the six months ended March 31, 2017 and 2016 were 27.9% and 30.3% . The decrease in the effective tax rate during the six months ended March 31, 2017 was primarily due to the tax benefit recognized on share-based compensation in 2017 and an increase in the reserve for unrecognized tax benefits that occurred in 2016 but did not repeat in 2017. These favorable items were partially offset by a reduction of the tax benefit from the domestic manufacturer’s deduction that resulted from the funding of our U.S. defined benefit pension plan.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and 2016 , potential dilutive effects, representing approximately 600,000 and 800,000 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 Six Months Ended 2017 2016 2017 2016 Net income(1) $ 33.4 $ 26.1 $ 55.1 $ 46.1 Weighted average shares outstanding (basic - in millions) 63.9 63.3 63.8 63.3 Effect of dilutive stock options and other unvested equity awards (in millions) 0.5 0.5 0.5 0.5 Weighted average shares outstanding (diluted - in millions) 64.4 63.8 64.3 63.8 Basic earnings per share $ 0.52 $ 0.41 $ 0.86 $ 0.73 Diluted earnings per share $ 0.52 $ 0.41 $ 0.86 $ 0.72 Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions) 0.6 1.3 0.9 0.7 (1) Net income attributable to Hillenbrand

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity During the six months ended March 31, 2017 , we paid approximately $26.0 of cash dividends. We also repurchased approximately 468,000 shares of our common stock during the six months ended March 31, 2017 , at a total cost of approximately $17.0 . In connection with our share-based compensation plans discussed further in Note 12, we also issued approximately 687,000 shares of common stock, of which approximately 597,000 shares were from treasury stock.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Mar. 31, 2017
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, 2015 $ (54.4 ) $ (52.1 ) $ (1.4 ) $ (107.9 ) Other comprehensive income before reclassifications Before tax amount — 4.5 1.3 5.8 $ (0.1 ) $ 5.7 Tax expense — — (0.6 ) (0.6 ) — (0.6 ) After tax amount — 4.5 0.7 5.2 (0.1 ) 5.1 Amounts reclassified from accumulated other comprehensive income(1) 0.5 — 0.3 0.8 — 0.8 Net current period other comprehensive income (loss) 0.5 4.5 1.0 6.0 $ (0.1 ) $ 5.9 Balance at March 31, 2016 $ (53.9 ) $ (47.6 ) $ (0.4 ) $ (101.9 ) (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, 2016 $ (67.5 ) $ (61.6 ) $ (0.7 ) $ (129.8 ) Other comprehensive income before reclassifications Before tax amount 11.0 (13.6 ) 2.0 (0.6 ) $ 0.2 $ (0.4 ) Tax expense (4.0 ) — (0.7 ) (4.7 ) — (4.7 ) After tax amount 7.0 (13.6 ) 1.3 (5.3 ) 0.2 (5.1 ) Amounts reclassified from accumulated other comprehensive income(1) 1.9 — 0.2 2.1 — 2.1 Net current period other comprehensive income (loss) 8.9 (13.6 ) 1.5 (3.2 ) $ 0.2 $ (3.0 ) Balance at March 31, 2017 $ (58.6 ) $ (75.2 ) $ 0.8 $ (133.0 ) (1) Amounts are net of tax. Reclassifications out of Accumulated Other Comprehensive Income include: Three Months Ended March 31, 2016 Amortization of Pension and Postretirement (1) (Gain)/Loss on Derivative Instruments Net Loss Recognized Prior Service Costs Recognized Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ (0.2 ) $ (0.2 ) Cost of goods sold 0.6 — — 0.6 Operating expenses 0.2 0.1 — 0.3 Other income (expense), net — — (0.1 ) (0.1 ) Total before tax $ 0.8 $ 0.1 $ (0.3 ) $ 0.6 Tax expense (1.1 ) Total reclassifications for the period, net of tax $ (0.5 ) Six Months Ended March 31, 2016 Amortization of Pension and Postretirement (1) (Gain)/Loss on Derivative Instruments Net Loss Recognized Prior Service Costs Recognized Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ 0.3 $ 0.3 Cost of goods sold 1.2 0.1 — 1.3 Operating expenses 0.4 0.1 — 0.5 Other income (expense), net — — 0.2 0.2 Total before tax $ 1.6 $ 0.2 $ 0.5 $ 2.3 Tax expense (1.5 ) Total reclassifications for the period, net of tax $ 0.8 Three Months Ended March 31, 2017 Amortization of Pension and (Gain)/Loss on Net Loss Prior Service Costs Derivative Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ 0.1 $ 0.1 Cost of goods sold 1.1 — — 1.1 Operating expenses 0.6 0.1 — 0.7 Other income (expense), net — — — — Total before tax $ 1.7 $ 0.1 $ 0.1 $ 1.9 Tax expense (0.7 ) Total reclassifications for the period, net of tax $ 1.2 Six Months Ended March 31, 2017 Amortization of Pension and (Gain)/Loss on Net Loss Prior Service Costs Derivative Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ 0.2 $ 0.2 Cost of goods sold 1.9 0.1 — 2.0 Operating expenses 0.9 0.1 — 1.0 Other income (expense), net — — 0.1 0.1 Total before tax $ 2.8 $ 0.2 $ 0.3 $ 3.3 Tax expense (1.2 ) Total reclassifications for the period, net of tax $ 2.1 (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 7).

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Mar. 31, 2017
Compensation Related Costs [Abstract]
Share-Based Compensation	Share-Based Compensation Three Months Ended Six Months Ended 2017 2016 2017 2016 Share-based compensation costs $ 3.1 $ 3.1 $ 5.7 $ 3.7 Less impact of income tax benefit 1.0 1.2 2.0 1.4 Share-based compensation costs, net of tax $ 2.1 $ 1.9 $ 3.7 $ 2.3 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. Relative total shareholder return is determined by comparing our total shareholder return during a three-year period to the respective total shareholder returns of 15 other companies in a designated performance peer group. Creation of shareholder value is measured by the cumulative cash returns and final period net operating profit after tax compared to the established hurdle rate 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 six months ended March 31, 2017 , we made the following grants: Number of Units Stock options 475,892 Time-based stock awards 35,983 Performance-based stock awards (maximum that can be earned) 301,168 Stock options granted during fiscal 2017 had a weighted-average exercise price of $36.09 and a weighted-average grant date fair value of $8.38 . Our time-based stock awards and performance-based stock awards granted during fiscal 2017 had weighted-average grant date fair values of $36.19 and $39.70 . Included in the performance-based stock awards granted during 2017 are 157,787 units whose payout level is based upon the Company’s relative total shareholder return over the three -year measurement period, as described above. 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	6 Months Ended
	Mar. 31, 2017
Other Nonoperating Income (Expense) [Abstract]
Other Income and Other Expense	Other Income (Expense), Net Three Months Ended Six Months Ended 2017 2016 2017 2016 Equity in net income (loss) of affiliates $ 0.3 $ (0.1 ) $ 1.0 $ (0.5 ) Foreign currency exchange (loss) gain, net (0.6 ) 0.2 (1.4 ) 0.1 Other, net (0.3 ) (1.0 ) (1.5 ) (1.2 ) Other (expense) income, net $ (0.6 ) $ (0.9 ) $ (1.9 ) $ (1.6 )

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2017
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 in many cases. 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 employment-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	6 Months Ended
	Mar. 31, 2017
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 March 31, 2017 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 51.4 $ 51.4 $ — $ — Investments in rabbi trust 3.9 3.9 — — Derivative instruments 1.9 — 1.9 — Liabilities: $150 senior unsecured notes 149.4 160.5 — — Revolving credit facility 218.5 — 218.5 — Term loan 155.3 — 155.3 — $100 Series A Notes 100.0 — 106.6 — Derivative instruments 3.7 — 3.7 — The fair values of the revolving credit facility and term loan approximated carrying value at March 31, 2017 . 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 $193.0 at March 31, 2017 . The derivatives are included in other current assets, other assets, and other current liabilities on the balance sheet.

Segment and Geographical Inform

Segment and Geographical Information	6 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment and Geographical Information	Segment and Geographical Information Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Net revenue Process Equipment Group $ 244.1 $ 235.8 $ 465.7 $ 449.8 Batesville 151.2 151.2 285.7 288.9 Total $ 395.3 $ 387.0 $ 751.4 $ 738.7 Adjusted EBITDA Process Equipment Group $ 37.3 $ 35.0 $ 70.0 $ 67.9 Batesville 42.7 43.0 73.7 74.9 Corporate (9.7 ) (10.2 ) (17.0 ) (17.2 ) Net revenue (1) United States $ 227.3 $ 220.0 $ 428.7 $ 419.0 Germany 115.8 107.5 220.2 200.8 All other foreign business units 52.2 59.5 102.5 118.9 Total $ 395.3 $ 387.0 $ 751.4 $ 738.7 (1) We attribute revenue to a geography based upon the location of the business unit that consummates the external sale. March 31, September 30, Total assets assigned Process Equipment Group $ 1,659.2 $ 1,694.6 Batesville 208.7 211.8 Corporate 25.3 53.3 Total $ 1,893.2 $ 1,959.7 Tangible long-lived assets, net United States $ 84.3 $ 89.5 Germany 34.7 35.8 All other foreign business units 26.4 27.2 Total $ 145.4 $ 152.5 The following schedule reconciles segment adjusted EBITDA to consolidated net income. Three Months Ended Six Months Ended 2017 2016 2017 2016 Adjusted EBITDA: Process Equipment Group $ 37.3 $ 35.0 $ 70.0 $ 67.9 Batesville 42.7 43.0 73.7 74.9 Corporate (9.7 ) (10.2 ) (17.0 ) (17.2 ) Less: Interest income (0.1 ) (0.2 ) (0.3 ) (0.5 ) Interest expense 6.3 6.4 12.4 12.3 Income tax expense 14.9 12.3 21.6 21.0 Depreciation and amortization 13.6 15.9 28.6 31.9 Business acquisition and integration 0.3 1.1 0.6 2.8 Inventory step-up — 1.1 — 2.5 Restructuring and restructuring related 1.3 4.0 7.9 7.4 Consolidated net income $ 34.0 $ 27.2 $ 55.9 $ 48.2

Condensed Consolidating Informa

Condensed Consolidating Information	6 Months Ended
	Mar. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Information	Condensed Consolidating Information Certain 100% owned domestic subsidiaries of Hillenbrand fully and unconditionally, jointly and severally, agreed to guarantee all of the indebtedness and guarantee obligations 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 March 31, 2017 Three Months Ended March 31, 2016 Parent Guarantors Non- Eliminations Consolidated Parent Guarantors Non- Eliminations Consolidated Net revenue $ — $ 228.7 $ 217.5 $ (50.9 ) $ 395.3 $ — $ 217.8 $ 218.3 $ (49.1 ) $ 387.0 Cost of goods sold — 117.2 156.7 (27.2 ) 246.7 — 108.6 159.1 (23.4 ) 244.3 Gross profit — 111.5 60.8 (23.7 ) 148.6 — 109.2 59.2 (25.7 ) 142.7 Operating expenses 11.4 57.1 40.8 (23.7 ) 85.6 7.7 63.7 41.6 (25.7 ) 87.3 Amortization expense — 3.4 3.8 — 7.2 — 4.5 4.1 — 8.6 Interest expense 5.4 — 0.9 — 6.3 5.6 0.1 0.7 — 6.4 Other income (expense), net (0.4 ) (0.4 ) 0.2 — (0.6 ) (0.3 ) (1.1 ) 0.5 — (0.9 ) Equity in net income (loss) of subsidiaries 42.7 1.5 — (44.2 ) — 32.0 2.7 — (34.7 ) — Income (loss) before income taxes 25.5 52.1 15.5 (44.2 ) 48.9 18.4 42.5 13.3 (34.7 ) 39.5 Income tax expense (benefit) (7.9 ) 19.0 3.8 — 14.9 (7.7 ) 15.9 4.1 — 12.3 Consolidated net income 33.4 33.1 11.7 (44.2 ) 34.0 26.1 26.6 9.2 (34.7 ) 27.2 Less: Net income attributable to noncontrolling interests — — 0.6 — 0.6 — — 1.1 — 1.1 Net income (loss) (1) $ 33.4 $ 33.1 $ 11.1 $ (44.2 ) $ 33.4 $ 26.1 $ 26.6 $ 8.1 $ (34.7 ) $ 26.1 Consolidated comprehensive income (loss) $ 46.2 $ 38.2 $ 19.7 $ (57.0 ) $ 47.1 $ 45.9 $ 27.2 $ 29.3 $ (55.4 ) $ 47.0 Less: Comprehensive income attributable to noncontrolling interests — — 0.9 — 0.9 — — 1.1 — 1.1 Comprehensive income (loss) (2) $ 46.2 $ 38.2 $ 18.8 $ (57.0 ) $ 46.2 $ 45.9 $ 27.2 $ 28.2 $ (55.4 ) $ 45.9 Six Months Ended March 31, 2017 Six Months Ended March 31, 2016 Parent Guarantors Non- Eliminations Consolidated Parent Guarantors Non- Eliminations Consolidated Net revenue $ — $ 431.4 $ 420.4 $ (100.4 ) $ 751.4 $ — $ 415.1 $ 423.5 $ (99.9 ) $ 738.7 Cost of goods sold — 226.4 302.2 (51.8 ) 476.8 — 210.8 305.8 (48.8 ) 467.8 Gross profit — 205.0 118.2 (48.6 ) 274.6 — 204.3 117.7 (51.1 ) 270.9 Operating expenses 21.0 115.8 80.2 (48.6 ) 168.4 14.9 123.8 81.8 (51.1 ) 169.4 Amortization expense — 6.8 7.6 — 14.4 — 6.8 11.6 — 18.4 Interest expense 10.8 — 1.6 — 12.4 10.8 0.1 1.4 — 12.3 Other income (expense), net (0.4 ) (0.4 ) (1.1 ) — (1.9 ) (0.2 ) (2.1 ) 0.7 — (1.6 ) Equity in net income (loss) of subsidiaries 71.5 3.7 — (75.2 ) — 58.4 4.9 — (63.3 ) — Income (loss) before income taxes 39.3 85.7 27.7 (75.2 ) 77.5 32.5 76.4 23.6 (63.3 ) 69.2 Income tax expense (benefit) (15.8 ) 30.7 6.7 — 21.6 (13.6 ) 27.9 6.7 — 21.0 Consolidated net income 55.1 55.0 21.0 (75.2 ) 55.9 46.1 48.5 16.9 (63.3 ) 48.2 Less: Net income attributable to noncontrolling interests — — 0.8 — 0.8 — — 2.1 — 2.1 Net income (loss) (1) $ 55.1 $ 55.0 $ 20.2 $ (75.2 ) $ 55.1 $ 46.1 $ 48.5 $ 14.8 $ (63.3 ) $ 46.1 Consolidated comprehensive income (loss) $ 51.9 $ 59.7 $ 8.1 $ (66.8 ) $ 52.9 $ 52.1 $ 58.0 $ 22.5 $ (78.5 ) $ 54.1 Less: Comprehensive income attributable to noncontrolling interests — — 1.0 — 1.0 — — 2.0 — 2.0 Comprehensive income (loss) (2) $ 51.9 $ 59.7 $ 7.1 $ (66.8 ) $ 51.9 $ 52.1 $ 58.0 $ 20.5 $ (78.5 ) $ 52.1 (1) Net income attributable to Hillenbrand (2) Comprehensive income attributable to Hillenbrand Condensed Consolidating Balance Sheets March 31, 2017 September 30, 2016 Parent Guarantors Non- Guarantors Eliminations Consolidated Parent Guarantors Non- Guarantors Eliminations Consolidated Cash and cash equivalents $ 0.4 $ 4.9 $ 46.1 $ — $ 51.4 $ 4.4 $ 5.6 $ 42.0 $ — $ 52.0 Trade receivables, net — 111.3 81.9 — 193.2 — 120.6 84.4 — 205.0 Unbilled receivables from long-term manufacturing contracts — 10.9 128.2 — 139.1 — 10.6 115.2 — 125.8 Inventories — 69.3 83.4 (2.5 ) 150.2 — 69.8 86.1 (2.8 ) 153.1 Deferred income taxes — — — — — 1.6 17.4 — 4.9 23.9 Prepaid expense 2.3 10.2 11.0 — 23.5 2.2 6.5 9.5 — 18.2 Intercompany receivables — 913.3 81.6 (994.9 ) — — 1,003.1 97.4 (1,100.5 ) — Other current assets 0.2 2.0 17.4 0.4 20.0 4.6 1.5 15.9 0.3 22.3 Total current assets 2.9 1,121.9 449.6 (997.0 ) 577.4 12.8 1,235.1 450.5 (1,098.1 ) 600.3 Property, plant and equipment, net 4.6 63.3 77.5 — 145.4 4.9 65.7 81.9 — 152.5 Intangible assets, net 3.9 218.2 294.1 — 516.2 4.1 220.4 317.0 — 541.5 Goodwill — 283.8 336.2 — 620.0 — 271.8 362.5 — 634.3 Investment in consolidated subsidiaries 2,118.8 664.2 — (2,783.0 ) — 2,143.4 820.2 — (2,963.6 ) — Other assets 19.9 23.2 3.1 (12.0 ) 34.2 18.9 22.7 0.8 (11.3 ) 31.1 Total Assets $ 2,150.1 $ 2,374.6 $ 1,160.5 $ (3,792.0 ) $ 1,893.2 $ 2,184.1 $ 2,635.9 $ 1,212.7 $ (4,073.0 ) $ 1,959.7 Trade accounts payable $ 0.4 $ 31.1 $ 100.8 $ — $ 132.3 $ 0.4 $ 28.4 $ 106.9 $ — $ 135.7 Liabilities from long-term manufacturing contracts and advances — 22.8 67.8 — 90.6 — 14.0 64.6 — 78.6 Current portion of long-term debt 15.7 — 0.5 — 16.2 13.5 — 0.3 — 13.8 Accrued compensation 3.9 15.0 31.6 — 50.5 4.7 17.3 35.3 — 57.3 Deferred income taxes — — — — — — — 18.1 4.7 22.8 Intercompany payables 993.1 4.3 — (997.4 ) — 1,098.8 4.5 — (1,103.3 ) — Other current liabilities 14.1 40.2 64.6 0.6 119.5 13.9 39.8 71.6 0.2 125.5 Total current liabilities 1,027.2 113.4 265.3 (996.8 ) 409.1 1,131.3 104.0 296.8 (1,098.4 ) 433.7 Long-term debt 463.8 — 142.6 — 606.4 416.6 — 178.5 — 595.1 Accrued pension and postretirement healthcare 1.1 34.3 97.5 — 132.9 1.1 127.0 104.6 — 232.7 Deferred income taxes — 10.7 46.9 (12.2 ) 45.4 — 5.8 27.8 (11.0 ) 22.6 Other long-term liabilities 1.1 16.7 9.8 — 27.6 2.8 16.3 10.3 — 29.4 Total Liabilities 1,493.2 175.1 562.1 (1,009.0 ) 1,221.4 1,551.8 253.1 618.0 (1,109.4 ) 1,313.5 Total Hillenbrand Shareholders’ Equity 656.9 2,199.5 583.5 (2,783.0 ) 656.9 632.3 2,382.8 580.8 (2,963.6 ) 632.3 Noncontrolling interests — — 14.9 — 14.9 — — 13.9 — 13.9 Total Equity 656.9 2,199.5 598.4 (2,783.0 ) 671.8 632.3 2,382.8 594.7 (2,963.6 ) 646.2 Total Liabilities and Equity $ 2,150.1 $ 2,374.6 $ 1,160.5 $ (3,792.0 ) $ 1,893.2 $ 2,184.1 $ 2,635.9 $ 1,212.7 $ (4,073.0 ) $ 1,959.7 Condensed Consolidating Statements of Cash Flow Six Months Ended March 31, 2017 Six Months Ended March 31, 2016 Parent Guarantors Non- Guarantors Eliminations Consolidated Parent Guarantors Non- Guarantors Eliminations Consolidated Net cash provided by (used in) operating activities $ (22.9 ) $ 124.4 $ 47.0 $ (128.7 ) $ 19.8 $ (112.7 ) $ 238.4 $ 71.5 $ (110.0 ) $ 87.2 Investing activities: Capital expenditures (0.4 ) (4.0 ) (4.7 ) — (9.1 ) (1.3 ) (3.4 ) (4.4 ) — (9.1 ) Proceeds from sales of property, plant, and equipment — 1.8 0.4 — 2.2 — 0.5 0.4 — 0.9 Acquisition of business, net of cash acquired — — — — — — (131.3 ) (105.7 ) — (237.0 ) Other, net 2.7 (0.3 ) (2.5 ) — (0.1 ) — — — — — Net cash provided by (used in) investing activities 2.3 (2.5 ) (6.8 ) — (7.0 ) (1.3 ) (134.2 ) (109.7 ) — (245.2 ) Financing activities: Repayments on term loan (6.7 ) — — — (6.7 ) (4.5 ) — — — (4.5 ) Proceeds from revolving credit facilities 189.1 — 362.6 — 551.7 262.0 — 125.5 — 387.5 Repayments on revolving credit facilities (133.0 ) — (391.8 ) — (524.8 ) (113.9 ) — (85.2 ) — (199.1 ) Payment of dividends - intercompany — (122.6 ) (6.1 ) 128.7 — — (104.6 ) (5.4 ) 110.0 — Payment of dividends on common stock (26.0 ) — — — (26.0 ) (25.4 ) — — — (25.4 ) Repurchases of common stock (17.0 ) — — — (17.0 ) (4.0 ) — — — (4.0 ) Net proceeds (payments) on stock plans 10.2 — — — 10.2 (0.5 ) — — — (0.5 ) Other, net — — (0.2 ) — (0.2 ) 0.9 — (0.4 ) — 0.5 Net cash provided by (used in) financing activities 16.6 (122.6 ) (35.5 ) 128.7 (12.8 ) 114.6 (104.6 ) 34.5 110.0 154.5 Effect of exchange rates on cash and cash equivalents — — (0.6 ) — (0.6 ) — — (1.6 ) — (1.6 ) Net cash flow (4.0 ) (0.7 ) 4.1 — (0.6 ) 0.6 (0.4 ) (5.3 ) — (5.1 ) Cash and equivalents at beginning of period 4.4 5.6 42.0 — 52.0 0.3 7.1 40.9 — 48.3 Cash and equivalents at end of period $ 0.4 $ 4.9 $ 46.1 $ — $ 51.4 $ 0.9 $ 6.7 $ 35.6 $ — $ 43.2

Restructuring

Restructuring	6 Months Ended
	Mar. 31, 2017
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 March 31, 2017 Three Months Ended March 31, 2016 Cost of goods sold Operating expenses Total Cost of goods sold Operating expenses Total Process Equipment Group $ — $ 0.3 $ 0.3 $ 0.8 $ 1.9 $ 2.7 Batesville 0.1 — 0.1 0.1 0.7 0.8 Corporate — 0.5 0.5 — 0.1 0.1 Total $ 0.1 $ 0.8 $ 0.9 $ 0.9 $ 2.7 $ 3.6 Six Months Ended March 31, 2017 Six Months Ended March 31, 2016 Cost of goods sold Operating expenses Total Cost of goods sold Operating expenses Total Process Equipment Group $ — $ 0.3 $ 0.3 $ 2.8 $ 3.1 $ 5.9 Batesville 6.4 — 6.4 0.1 0.7 0.8 Corporate — 2.1 2.1 — 0.3 0.3 Total $ 6.4 $ 2.4 $ 8.8 $ 2.9 $ 4.1 $ 7.0 The 2017 charges related primarily to the closure of a plant at Batesville and corporate functional restructuring. The 2016 charges primarily related to severance costs at the Process Equipment Group as we integrated and streamlined the business operations within the segment. At March 31, 2017 , $ 3.9 of restructuring costs were accrued and expected to be paid in 2017 .

Business Acquisitions (Notes)

Business Acquisitions (Notes)	6 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	3. Business Acquisitions We incurred $ 0.3 and $0.6 of business acquisition and integration costs during the three and six months ended March 31, 2017 , and $1.1 and $2.8 for the same periods in the prior year, 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 in cash. We utilized borrowings under our $700.0 revolving credit facility and $180.0 term loan (together, the “Facility”) 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 for the relevant periods. Based on the final purchase allocation, we recorded goodwill of $36 , and acquired identifiable intangible assets of $58 , which consisted of $5 of trade names not subject to amortization, $9 of developed technology, $3 of backlog, and $41 of customer relationships. In addition, we recorded $14 of net tangible assets, primarily working capital. Goodwill is 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 $130.4 in cash, net of certain adjustments. We utilized borrowings under our Facility to fund this acquisition. Based in Carnegie, Pennsylvania, Red Valve is a global leader in highly-engineered valves designed to operate in the harshest municipal and industrial wastewater environments. Its products support mission critical applications in water/wastewater, power and mining, and other general industrial markets. The results of Red Valve are reported in our Process Equipment Group segment for the relevant periods. Based on the final purchase allocation, we recorded goodwill of $59 , and acquired identifiable intangible assets of $61 , which consisted of $4 of trade names not subject to amortization, $8 of developed technology, $1 of backlog, and $ 48 of customer relationships. In addition, we recorded $10 of net tangible assets, primarily working capital. Goodwill is deductible for tax purposes. Supplemental proforma information has not been provided as the acquisition did not have a material impact on consolidated results of operations. Both of these acquisitions continue Hillenbrand’s strategy to transform into a world-class global diversified industrial company by increasing our ability to expand into new markets and geographies within the highly attractive flow control space. The fair value of these acquisitions did not ascribe a significant amount to tangible assets as our strategy is to acquire companies with a relatively low physical asset base in order to limit the need to invest significant additional cash post-acquisition.

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2017
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 2016 . 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 2016 . Recently Adopted Accounting Standards 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant impact 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant impact 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 became effective and were retrospectively adopted for our fiscal year beginning October 1, 2016. The retrospective adoption resulted in $1.2 of debt issuance costs being reclassified from other assets to a reduction of the carrying value of long-term debt as of September 30, 2016. 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant impact 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 became effective and was adopted for our fiscal year beginning October 1, 2016. The adoption of this standard did not have a significant impact 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 was early adopted for our fiscal year beginning October 1, 2016. The adoption of this standard resulted in a reclassification of $3.1 from current deferred income taxes to non-current deferred income taxes on the Consolidated Balance Sheets as of March 31, 2017. No periods prior to adoption were retrospectively adjusted. 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. The FASB has also issued several updates to ASU 2014-09. The new standard supersedes U.S. GAAP guidance on revenue recognition and requires the use of more estimates and judgments than the present standards. It also requires significant disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. 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 have not yet selected a transition method, but we have begun the assessment process and are currently evaluating the impact that ASU 2014-09 will have on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases . ASU 2016-02 requires lessees to recognize a right of use asset and related lease liability for leases that have terms of more than twelve months. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance, with the classifications based on criteria that are similar to those applied under the current lease guidance, without the explicit bright lines. ASU 2016-02 will be effective for our fiscal year beginning on October 1, 2019, with early adoption permitted. We are currently evaluating the impact that ASU 2016-02 will have on our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows: Restricted Cash. ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-17 will be effective for our fiscal year beginning on October 1, 2018, with early adoption permitted. We expect the adoption of ASU 2016-18 to have a financial statement presentation and disclosure impact only. In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business . ASU 2017-01 assists entities in determining whether a transaction involves an asset or a business. Specifically, it states that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. If this initial test is not met, a set cannot be considered a business unless it includes an input and a substantive process that together significantly contribute to the ability to create output. ASU 2017-01 will be effective for our fiscal year beginning on October 1, 2018, with early adoption permitted. We are currently evaluating ASU 2017-01, but do not expect a significant impact on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment. ASU 2017-04 eliminates Step 2 from the goodwill impairment test and modifies the concept of impairment from the condition that exists when the carrying amount of goodwill exceeds its implied fair value to the condition that exists when the carrying amount of a reporting unit exceeds its fair value. ASU 2017-04 will be effective for our fiscal year beginning on October 1, 2020, with early adoption permitted. We are evaluating the application of this ASU on the Company’s annual impairment test. We are currently evaluating the impact that ASU 2017-04 will have on our consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . ASU 2017-07 states that an employer must report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period and present the other components of net benefit cost (as defined in paragraphs 715-30-35-4 and 715-60-35-9) in the income statement separately from the service cost component and outside a subtotal of income from operations (if one is presented). In addition, ASU 2017-07 limits the capitalization of compensation costs to the service cost component only (if capitalization is appropriate). ASU 2017-07 will be effective for our fiscal year beginning on October 1, 2018, with early adoption permitted. We are currently evaluating the impact that ASU 2017-07 will have on our consolidated financial statements.

Supplemental Balance Sheet In27

Supplemental Balance Sheet Information (Tables)	6 Months Ended
	Mar. 31, 2017
Balance Sheet Related Disclosures [Abstract]
Schedule of supplemental balance sheet information	March 31, September 30, Trade accounts receivable reserves $ 21.2 $ 21.0 Accumulated depreciation on property, plant, and equipment $ 304.8 $ 299.4 Inventories: Raw materials and components $ 48.5 $ 51.4 Work in process 56.1 54.0 Finished goods 45.6 47.7 Total inventories $ 150.2 $ 153.1

Intangible Assets and Goodwil28

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	Process Equipment Group Batesville Total Balance September 30, 2016 $ 626.0 $ 8.3 $ 634.3 Acquisitions, including purchase price adjustments (0.9 ) — (0.9 ) Foreign currency adjustments (13.4 ) — (13.4 ) Balance March 31, 2017 $ 611.7 $ 8.3 $ 620.0
Schedule of Intangible Assets and Goodwill [Table Text Block]	The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of March 31, 2017 and September 30, 2016 . March 31, 2017 September 30, 2016 Cost Accumulated Amortization Cost Accumulated Amortization Finite-lived assets: Trade names $ 0.2 $ (0.1 ) $ 0.2 $ (0.1 ) Customer relationships 450.9 (110.4 ) 459.5 (100.7 ) Technology, including patents 75.9 (35.5 ) 77.9 (33.3 ) Software 47.8 (40.7 ) 47.4 (39.8 ) Other 0.4 (0.3 ) 0.4 (0.3 ) 575.2 (187.0 ) 585.4 (174.2 ) Indefinite-lived assets: Trade names 128.0 — 130.3 — Total $ 703.2 $ (187.0 ) $ 715.7 $ (174.2 )

Financing Agreements (Tables)

Financing Agreements (Tables)	6 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of borrowings under financing agreements	Financing Agreements March 31, September 30, $700 revolving credit facility (excluding outstanding letters of credit) $ 218.5 $ 198.5 $180 term loan 155.3 162.0 $150 senior unsecured notes, net of discount (1) 148.7 148.5 $100 Series A Notes (2) 99.6 99.6 Other 0.5 0.3 Total debt 622.6 608.9 Less: current portion 16.2 13.8 Total long-term debt $ 606.4 $ 595.1 (1) Includes debt issuance costs of $0.7 and $0.8 at March 31, 2017 and September 30, 2016. (2) Includes debt issuance costs of $0.4 and $0.4 at March 31, 2017 and September 30, 2016.

Retirement Benefits (Tables)

Retirement Benefits (Tables)	6 Months Ended
	Mar. 31, 2017
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 March 31, Three Months Ended March 31, 2017 2016 2017 2016 Service costs $ 0.9 $ 1.0 $ 0.4 $ 0.5 Interest costs 2.1 2.3 0.1 0.3 Expected return on plan assets (3.4 ) (2.4 ) (0.2 ) (0.2 ) Amortization of unrecognized prior service costs, net 0.1 0.2 — — Amortization of net loss 1.0 0.9 0.7 0.2 Net pension costs $ 0.7 $ 2.0 $ 1.0 $ 0.8 U.S. Pension Benefits Non-U.S. Pension Benefits Six Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Service costs $ 1.9 $ 2.0 $ 0.8 $ 1.1 Interest costs 4.3 4.7 0.3 0.9 Expected return on plan assets (6.7 ) (4.8 ) (0.3 ) (0.5 ) Amortization of unrecognized prior service costs, net 0.2 0.3 — — Amortization of net loss 2.1 1.8 0.7 0.4 Net pension costs $ 1.8 $ 4.0 $ 1.5 $ 1.9

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	Three Months Ended Six Months Ended 2017 2016 2017 2016 Net income(1) $ 33.4 $ 26.1 $ 55.1 $ 46.1 Weighted average shares outstanding (basic - in millions) 63.9 63.3 63.8 63.3 Effect of dilutive stock options and other unvested equity awards (in millions) 0.5 0.5 0.5 0.5 Weighted average shares outstanding (diluted - in millions) 64.4 63.8 64.3 63.8 Basic earnings per share $ 0.52 $ 0.41 $ 0.86 $ 0.73 Diluted earnings per share $ 0.52 $ 0.41 $ 0.86 $ 0.72 Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions) 0.6 1.3 0.9 0.7 (1) Net income attributable to Hillenbrand

Other Comprehensive Income (L32

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Mar. 31, 2017
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, 2015 $ (54.4 ) $ (52.1 ) $ (1.4 ) $ (107.9 ) Other comprehensive income before reclassifications Before tax amount — 4.5 1.3 5.8 $ (0.1 ) $ 5.7 Tax expense — — (0.6 ) (0.6 ) — (0.6 ) After tax amount — 4.5 0.7 5.2 (0.1 ) 5.1 Amounts reclassified from accumulated other comprehensive income(1) 0.5 — 0.3 0.8 — 0.8 Net current period other comprehensive income (loss) 0.5 4.5 1.0 6.0 $ (0.1 ) $ 5.9 Balance at March 31, 2016 $ (53.9 ) $ (47.6 ) $ (0.4 ) $ (101.9 ) (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, 2016 $ (67.5 ) $ (61.6 ) $ (0.7 ) $ (129.8 ) Other comprehensive income before reclassifications Before tax amount 11.0 (13.6 ) 2.0 (0.6 ) $ 0.2 $ (0.4 ) Tax expense (4.0 ) — (0.7 ) (4.7 ) — (4.7 ) After tax amount 7.0 (13.6 ) 1.3 (5.3 ) 0.2 (5.1 ) Amounts reclassified from accumulated other comprehensive income(1) 1.9 — 0.2 2.1 — 2.1 Net current period other comprehensive income (loss) 8.9 (13.6 ) 1.5 (3.2 ) $ 0.2 $ (3.0 ) Balance at March 31, 2017 $ (58.6 ) $ (75.2 ) $ 0.8 $ (133.0 ) (1) Amounts are net of tax.
Schedule of reclassifications of AOCI	Reclassifications out of Accumulated Other Comprehensive Income include: Three Months Ended March 31, 2016 Amortization of Pension and Postretirement (1) (Gain)/Loss on Derivative Instruments Net Loss Recognized Prior Service Costs Recognized Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ (0.2 ) $ (0.2 ) Cost of goods sold 0.6 — — 0.6 Operating expenses 0.2 0.1 — 0.3 Other income (expense), net — — (0.1 ) (0.1 ) Total before tax $ 0.8 $ 0.1 $ (0.3 ) $ 0.6 Tax expense (1.1 ) Total reclassifications for the period, net of tax $ (0.5 ) Six Months Ended March 31, 2016 Amortization of Pension and Postretirement (1) (Gain)/Loss on Derivative Instruments Net Loss Recognized Prior Service Costs Recognized Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ 0.3 $ 0.3 Cost of goods sold 1.2 0.1 — 1.3 Operating expenses 0.4 0.1 — 0.5 Other income (expense), net — — 0.2 0.2 Total before tax $ 1.6 $ 0.2 $ 0.5 $ 2.3 Tax expense (1.5 ) Total reclassifications for the period, net of tax $ 0.8 Three Months Ended March 31, 2017 Amortization of Pension and (Gain)/Loss on Net Loss Prior Service Costs Derivative Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ 0.1 $ 0.1 Cost of goods sold 1.1 — — 1.1 Operating expenses 0.6 0.1 — 0.7 Other income (expense), net — — — — Total before tax $ 1.7 $ 0.1 $ 0.1 $ 1.9 Tax expense (0.7 ) Total reclassifications for the period, net of tax $ 1.2 Six Months Ended March 31, 2017 Amortization of Pension and (Gain)/Loss on Net Loss Prior Service Costs Derivative Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ 0.2 $ 0.2 Cost of goods sold 1.9 0.1 — 2.0 Operating expenses 0.9 0.1 — 1.0 Other income (expense), net — — 0.1 0.1 Total before tax $ 2.8 $ 0.2 $ 0.3 $ 3.3 Tax expense (1.2 ) Total reclassifications for the period, net of tax $ 2.1 (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 7).

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Mar. 31, 2017
Compensation Related Costs [Abstract]
Schedule of stock-based compensation costs	Three Months Ended Six Months Ended 2017 2016 2017 2016 Share-based compensation costs $ 3.1 $ 3.1 $ 5.7 $ 3.7 Less impact of income tax benefit 1.0 1.2 2.0 1.4 Share-based compensation costs, net of tax $ 2.1 $ 1.9 $ 3.7 $ 2.3
Schedule of stock-based awards granted in the period	During the six months ended March 31, 2017 , we made the following grants: Number of Units Stock options 475,892 Time-based stock awards 35,983 Performance-based stock awards (maximum that can be earned) 301,168

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	6 Months Ended
	Mar. 31, 2017
Other Nonoperating Income (Expense) [Abstract]
Other income and expense	Three Months Ended Six Months Ended 2017 2016 2017 2016 Equity in net income (loss) of affiliates $ 0.3 $ (0.1 ) $ 1.0 $ (0.5 ) Foreign currency exchange (loss) gain, net (0.6 ) 0.2 (1.4 ) 0.1 Other, net (0.3 ) (1.0 ) (1.5 ) (1.2 ) Other (expense) income, net $ (0.6 ) $ (0.9 ) $ (1.9 ) $ (1.6 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Mar. 31, 2017
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 March 31, 2017 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 51.4 $ 51.4 $ — $ — Investments in rabbi trust 3.9 3.9 — — Derivative instruments 1.9 — 1.9 — Liabilities: $150 senior unsecured notes 149.4 160.5 — — Revolving credit facility 218.5 — 218.5 — Term loan 155.3 — 155.3 — $100 Series A Notes 100.0 — 106.6 — Derivative instruments 3.7 — 3.7 —

Segment and Geographical Info36

Segment and Geographical Information (Tables)	6 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of net revenue, adjusted EBITDA, and depreciation and amortization by segment and geographic location	Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Net revenue Process Equipment Group $ 244.1 $ 235.8 $ 465.7 $ 449.8 Batesville 151.2 151.2 285.7 288.9 Total $ 395.3 $ 387.0 $ 751.4 $ 738.7 Adjusted EBITDA Process Equipment Group $ 37.3 $ 35.0 $ 70.0 $ 67.9 Batesville 42.7 43.0 73.7 74.9 Corporate (9.7 ) (10.2 ) (17.0 ) (17.2 ) Net revenue (1) United States $ 227.3 $ 220.0 $ 428.7 $ 419.0 Germany 115.8 107.5 220.2 200.8 All other foreign business units 52.2 59.5 102.5 118.9 Total $ 395.3 $ 387.0 $ 751.4 $ 738.7 (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	March 31, September 30, Total assets assigned Process Equipment Group $ 1,659.2 $ 1,694.6 Batesville 208.7 211.8 Corporate 25.3 53.3 Total $ 1,893.2 $ 1,959.7 Tangible long-lived assets, net United States $ 84.3 $ 89.5 Germany 34.7 35.8 All other foreign business units 26.4 27.2 Total $ 145.4 $ 152.5
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 Six Months Ended 2017 2016 2017 2016 Adjusted EBITDA: Process Equipment Group $ 37.3 $ 35.0 $ 70.0 $ 67.9 Batesville 42.7 43.0 73.7 74.9 Corporate (9.7 ) (10.2 ) (17.0 ) (17.2 ) Less: Interest income (0.1 ) (0.2 ) (0.3 ) (0.5 ) Interest expense 6.3 6.4 12.4 12.3 Income tax expense 14.9 12.3 21.6 21.0 Depreciation and amortization 13.6 15.9 28.6 31.9 Business acquisition and integration 0.3 1.1 0.6 2.8 Inventory step-up — 1.1 — 2.5 Restructuring and restructuring related 1.3 4.0 7.9 7.4 Consolidated net income $ 34.0 $ 27.2 $ 55.9 $ 48.2

Condensed Consolidating Infor37

Condensed Consolidating Information (Tables)	6 Months Ended
	Mar. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of condensed consolidating statements of income	Six Months Ended March 31, 2017 Six Months Ended March 31, 2016 Parent Guarantors Non- Eliminations Consolidated Parent Guarantors Non- Eliminations Consolidated Net revenue $ — $ 431.4 $ 420.4 $ (100.4 ) $ 751.4 $ — $ 415.1 $ 423.5 $ (99.9 ) $ 738.7 Cost of goods sold — 226.4 302.2 (51.8 ) 476.8 — 210.8 305.8 (48.8 ) 467.8 Gross profit — 205.0 118.2 (48.6 ) 274.6 — 204.3 117.7 (51.1 ) 270.9 Operating expenses 21.0 115.8 80.2 (48.6 ) 168.4 14.9 123.8 81.8 (51.1 ) 169.4 Amortization expense — 6.8 7.6 — 14.4 — 6.8 11.6 — 18.4 Interest expense 10.8 — 1.6 — 12.4 10.8 0.1 1.4 — 12.3 Other income (expense), net (0.4 ) (0.4 ) (1.1 ) — (1.9 ) (0.2 ) (2.1 ) 0.7 — (1.6 ) Equity in net income (loss) of subsidiaries 71.5 3.7 — (75.2 ) — 58.4 4.9 — (63.3 ) — Income (loss) before income taxes 39.3 85.7 27.7 (75.2 ) 77.5 32.5 76.4 23.6 (63.3 ) 69.2 Income tax expense (benefit) (15.8 ) 30.7 6.7 — 21.6 (13.6 ) 27.9 6.7 — 21.0 Consolidated net income 55.1 55.0 21.0 (75.2 ) 55.9 46.1 48.5 16.9 (63.3 ) 48.2 Less: Net income attributable to noncontrolling interests — — 0.8 — 0.8 — — 2.1 — 2.1 Net income (loss) (1) $ 55.1 $ 55.0 $ 20.2 $ (75.2 ) $ 55.1 $ 46.1 $ 48.5 $ 14.8 $ (63.3 ) $ 46.1 Consolidated comprehensive income (loss) $ 51.9 $ 59.7 $ 8.1 $ (66.8 ) $ 52.9 $ 52.1 $ 58.0 $ 22.5 $ (78.5 ) $ 54.1 Less: Comprehensive income attributable to noncontrolling interests — — 1.0 — 1.0 — — 2.0 — 2.0 Comprehensive income (loss) (2) $ 51.9 $ 59.7 $ 7.1 $ (66.8 ) $ 51.9 $ 52.1 $ 58.0 $ 20.5 $ (78.5 ) $ 52.1 (1) Net income attributable to Hillenbrand (2) Comprehensive income attributable to Hillenbrand Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 Parent Guarantors Non- Eliminations Consolidated Parent Guarantors Non- Eliminations Consolidated Net revenue $ — $ 228.7 $ 217.5 $ (50.9 ) $ 395.3 $ — $ 217.8 $ 218.3 $ (49.1 ) $ 387.0 Cost of goods sold — 117.2 156.7 (27.2 ) 246.7 — 108.6 159.1 (23.4 ) 244.3 Gross profit — 111.5 60.8 (23.7 ) 148.6 — 109.2 59.2 (25.7 ) 142.7 Operating expenses 11.4 57.1 40.8 (23.7 ) 85.6 7.7 63.7 41.6 (25.7 ) 87.3 Amortization expense — 3.4 3.8 — 7.2 — 4.5 4.1 — 8.6 Interest expense 5.4 — 0.9 — 6.3 5.6 0.1 0.7 — 6.4 Other income (expense), net (0.4 ) (0.4 ) 0.2 — (0.6 ) (0.3 ) (1.1 ) 0.5 — (0.9 ) Equity in net income (loss) of subsidiaries 42.7 1.5 — (44.2 ) — 32.0 2.7 — (34.7 ) — Income (loss) before income taxes 25.5 52.1 15.5 (44.2 ) 48.9 18.4 42.5 13.3 (34.7 ) 39.5 Income tax expense (benefit) (7.9 ) 19.0 3.8 — 14.9 (7.7 ) 15.9 4.1 — 12.3 Consolidated net income 33.4 33.1 11.7 (44.2 ) 34.0 26.1 26.6 9.2 (34.7 ) 27.2 Less: Net income attributable to noncontrolling interests — — 0.6 — 0.6 — — 1.1 — 1.1 Net income (loss) (1) $ 33.4 $ 33.1 $ 11.1 $ (44.2 ) $ 33.4 $ 26.1 $ 26.6 $ 8.1 $ (34.7 ) $ 26.1 Consolidated comprehensive income (loss) $ 46.2 $ 38.2 $ 19.7 $ (57.0 ) $ 47.1 $ 45.9 $ 27.2 $ 29.3 $ (55.4 ) $ 47.0 Less: Comprehensive income attributable to noncontrolling interests — — 0.9 — 0.9 — — 1.1 — 1.1 Comprehensive income (loss) (2) $ 46.2 $ 38.2 $ 18.8 $ (57.0 ) $ 46.2 $ 45.9 $ 27.2 $ 28.2 $ (55.4 ) $ 45.9
Schedule of condensed consolidating balance sheets	March 31, 2017 September 30, 2016 Parent Guarantors Non- Guarantors Eliminations Consolidated Parent Guarantors Non- Guarantors Eliminations Consolidated Cash and cash equivalents $ 0.4 $ 4.9 $ 46.1 $ — $ 51.4 $ 4.4 $ 5.6 $ 42.0 $ — $ 52.0 Trade receivables, net — 111.3 81.9 — 193.2 — 120.6 84.4 — 205.0 Unbilled receivables from long-term manufacturing contracts — 10.9 128.2 — 139.1 — 10.6 115.2 — 125.8 Inventories — 69.3 83.4 (2.5 ) 150.2 — 69.8 86.1 (2.8 ) 153.1 Deferred income taxes — — — — — 1.6 17.4 — 4.9 23.9 Prepaid expense 2.3 10.2 11.0 — 23.5 2.2 6.5 9.5 — 18.2 Intercompany receivables — 913.3 81.6 (994.9 ) — — 1,003.1 97.4 (1,100.5 ) — Other current assets 0.2 2.0 17.4 0.4 20.0 4.6 1.5 15.9 0.3 22.3 Total current assets 2.9 1,121.9 449.6 (997.0 ) 577.4 12.8 1,235.1 450.5 (1,098.1 ) 600.3 Property, plant and equipment, net 4.6 63.3 77.5 — 145.4 4.9 65.7 81.9 — 152.5 Intangible assets, net 3.9 218.2 294.1 — 516.2 4.1 220.4 317.0 — 541.5 Goodwill — 283.8 336.2 — 620.0 — 271.8 362.5 — 634.3 Investment in consolidated subsidiaries 2,118.8 664.2 — (2,783.0 ) — 2,143.4 820.2 — (2,963.6 ) — Other assets 19.9 23.2 3.1 (12.0 ) 34.2 18.9 22.7 0.8 (11.3 ) 31.1 Total Assets $ 2,150.1 $ 2,374.6 $ 1,160.5 $ (3,792.0 ) $ 1,893.2 $ 2,184.1 $ 2,635.9 $ 1,212.7 $ (4,073.0 ) $ 1,959.7 Trade accounts payable $ 0.4 $ 31.1 $ 100.8 $ — $ 132.3 $ 0.4 $ 28.4 $ 106.9 $ — $ 135.7 Liabilities from long-term manufacturing contracts and advances — 22.8 67.8 — 90.6 — 14.0 64.6 — 78.6 Current portion of long-term debt 15.7 — 0.5 — 16.2 13.5 — 0.3 — 13.8 Accrued compensation 3.9 15.0 31.6 — 50.5 4.7 17.3 35.3 — 57.3 Deferred income taxes — — — — — — — 18.1 4.7 22.8 Intercompany payables 993.1 4.3 — (997.4 ) — 1,098.8 4.5 — (1,103.3 ) — Other current liabilities 14.1 40.2 64.6 0.6 119.5 13.9 39.8 71.6 0.2 125.5 Total current liabilities 1,027.2 113.4 265.3 (996.8 ) 409.1 1,131.3 104.0 296.8 (1,098.4 ) 433.7 Long-term debt 463.8 — 142.6 — 606.4 416.6 — 178.5 — 595.1 Accrued pension and postretirement healthcare 1.1 34.3 97.5 — 132.9 1.1 127.0 104.6 — 232.7 Deferred income taxes — 10.7 46.9 (12.2 ) 45.4 — 5.8 27.8 (11.0 ) 22.6 Other long-term liabilities 1.1 16.7 9.8 — 27.6 2.8 16.3 10.3 — 29.4 Total Liabilities 1,493.2 175.1 562.1 (1,009.0 ) 1,221.4 1,551.8 253.1 618.0 (1,109.4 ) 1,313.5 Total Hillenbrand Shareholders’ Equity 656.9 2,199.5 583.5 (2,783.0 ) 656.9 632.3 2,382.8 580.8 (2,963.6 ) 632.3 Noncontrolling interests — — 14.9 — 14.9 — — 13.9 — 13.9 Total Equity 656.9 2,199.5 598.4 (2,783.0 ) 671.8 632.3 2,382.8 594.7 (2,963.6 ) 646.2 Total Liabilities and Equity $ 2,150.1 $ 2,374.6 $ 1,160.5 $ (3,792.0 ) $ 1,893.2 $ 2,184.1 $ 2,635.9 $ 1,212.7 $ (4,073.0 ) $ 1,959.7
Condensed Cash Flow Statement [Table Text Block]	Six Months Ended March 31, 2017 Six Months Ended March 31, 2016 Parent Guarantors Non- Guarantors Eliminations Consolidated Parent Guarantors Non- Guarantors Eliminations Consolidated Net cash provided by (used in) operating activities $ (22.9 ) $ 124.4 $ 47.0 $ (128.7 ) $ 19.8 $ (112.7 ) $ 238.4 $ 71.5 $ (110.0 ) $ 87.2 Investing activities: Capital expenditures (0.4 ) (4.0 ) (4.7 ) — (9.1 ) (1.3 ) (3.4 ) (4.4 ) — (9.1 ) Proceeds from sales of property, plant, and equipment — 1.8 0.4 — 2.2 — 0.5 0.4 — 0.9 Acquisition of business, net of cash acquired — — — — — — (131.3 ) (105.7 ) — (237.0 ) Other, net 2.7 (0.3 ) (2.5 ) — (0.1 ) — — — — — Net cash provided by (used in) investing activities 2.3 (2.5 ) (6.8 ) — (7.0 ) (1.3 ) (134.2 ) (109.7 ) — (245.2 ) Financing activities: Repayments on term loan (6.7 ) — — — (6.7 ) (4.5 ) — — — (4.5 ) Proceeds from revolving credit facilities 189.1 — 362.6 — 551.7 262.0 — 125.5 — 387.5 Repayments on revolving credit facilities (133.0 ) — (391.8 ) — (524.8 ) (113.9 ) — (85.2 ) — (199.1 ) Payment of dividends - intercompany — (122.6 ) (6.1 ) 128.7 — — (104.6 ) (5.4 ) 110.0 — Payment of dividends on common stock (26.0 ) — — — (26.0 ) (25.4 ) — — — (25.4 ) Repurchases of common stock (17.0 ) — — — (17.0 ) (4.0 ) — — — (4.0 ) Net proceeds (payments) on stock plans 10.2 — — — 10.2 (0.5 ) — — — (0.5 ) Other, net — — (0.2 ) — (0.2 ) 0.9 — (0.4 ) — 0.5 Net cash provided by (used in) financing activities 16.6 (122.6 ) (35.5 ) 128.7 (12.8 ) 114.6 (104.6 ) 34.5 110.0 154.5 Effect of exchange rates on cash and cash equivalents — — (0.6 ) — (0.6 ) — — (1.6 ) — (1.6 ) Net cash flow (4.0 ) (0.7 ) 4.1 — (0.6 ) 0.6 (0.4 ) (5.3 ) — (5.1 ) Cash and equivalents at beginning of period 4.4 5.6 42.0 — 52.0 0.3 7.1 40.9 — 48.3 Cash and equivalents at end of period $ 0.4 $ 4.9 $ 46.1 $ — $ 51.4 $ 0.9 $ 6.7 $ 35.6 $ — $ 43.2

Restructuring Schedule of restr

Restructuring Schedule of restructuring charges by line and segment (Tables)	6 Months Ended
	Mar. 31, 2017
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	The following schedule details the restructuring charges by segment and the classification of those charges on the income statement. Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 Cost of goods sold Operating expenses Total Cost of goods sold Operating expenses Total Process Equipment Group $ — $ 0.3 $ 0.3 $ 0.8 $ 1.9 $ 2.7 Batesville 0.1 — 0.1 0.1 0.7 0.8 Corporate — 0.5 0.5 — 0.1 0.1 Total $ 0.1 $ 0.8 $ 0.9 $ 0.9 $ 2.7 $ 3.6 Six Months Ended March 31, 2017 Six Months Ended March 31, 2016 Cost of goods sold Operating expenses Total Cost of goods sold Operating expenses Total Process Equipment Group $ — $ 0.3 $ 0.3 $ 2.8 $ 3.1 $ 5.9 Batesville 6.4 — 6.4 0.1 0.7 0.8 Corporate — 2.1 2.1 — 0.3 0.3 Total $ 6.4 $ 2.4 $ 8.8 $ 2.9 $ 4.1 $ 7.0

Background and Basis of Prese39

Background and Basis of Presentation - Narrative (Details)	6 Months Ended
	Mar. 31, 2017segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2
Acquired entity subsidiary investments owned percent	100.00%

Summary of Significant Accoun40

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (Decrease) in Deferred Income Taxes		$ (17,300,000)	$ 800,000
New Accounting Pronouncement, Early Adoption, Effect [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (Decrease) in Deferred Income Taxes	$ 3,100,000
Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Issuance Costs, Net	$ 1,100,000	$ 1,100,000		$ 1,200,000

Supplemental Balance Sheet In41

Supplemental Balance Sheet Information - Schedule of supplemental balance sheet information (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Balance Sheet Related Disclosures [Abstract]
Trade accounts receivable reserves	$ 21.2	$ 21
Accumulated depreciation on property, plant, and equipment	304.8	299.4
Inventories:
Raw materials and components	48.5	51.4
Work in process	56.1	54
Finished goods	45.6	47.7
Total inventories	$ 150.2	$ 153.1

Intangible Assets and Goodwil42

Intangible Assets and Goodwill Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Jun. 30, 2016	Sep. 30, 2016
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 2.2
Finite-Lived Intangible Assets, Gross	$ 575.2	$ 575.2		$ 585.4
Accumulated amortization on intangible assets	(187)	(187)		(174.2)
Indefinite and Finite Lived Intangible Assets, Gross	703.2			715.7
Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	0.2	0.2		0.2
Accumulated amortization on intangible assets	(0.1)	(0.1)		(0.1)
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	450.9	450.9		459.5
Accumulated amortization on intangible assets	(110.4)	(110.4)		(100.7)
Technology-Based Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	75.9	75.9		77.9
Accumulated amortization on intangible assets	(35.5)	(35.5)		(33.3)
Computer Software, Intangible Asset [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	47.8	47.8		47.4
Accumulated amortization on intangible assets	(40.7)	(40.7)		(39.8)
Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	0.4	0.4		0.4
Accumulated amortization on intangible assets	(0.3)	(0.3)		(0.3)
Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	128	$ 128		$ 130.3
Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		3 years
Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		21 years
Customer Concentration Risk [Member] | Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 13	$ 13

Intangible Assets and Goodwil43

Intangible Assets and Goodwill Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2017	Sep. 30, 2016
Goodwill [Line Items]
Goodwill	$ 620	$ 634.3
Goodwill, Purchase Accounting Adjustments	(0.9)
Goodwill, Foreign Currency Translation Gain (Loss)	(13.4)
Process Equipment Group
Goodwill [Line Items]
Goodwill	611.7	626
Goodwill, Purchase Accounting Adjustments	(0.9)
Goodwill, Foreign Currency Translation Gain (Loss)	(13.4)
Batesville Services Inc [Member]
Goodwill [Line Items]
Goodwill	8.3	$ 8.3
Goodwill, Foreign Currency Translation Gain (Loss)	$ 0

Financing Agreements - Schedule

Financing Agreements - Schedule of borrowings (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016	Dec. 15, 2014
Financing Agreements
Total debt	$ 622.6		$ 622.6		$ 608.9
Less: current portion	(16.2)		(16.2)		(13.8)
Long-term debt	606.4		606.4		595.1
$700 revolving credit facility (excluding outstanding letters of credit)
Financing Agreements
Long-term Debt, Gross	$ 218.5		$ 218.5		198.5
Debt Instrument, Interest Rate During Period	1.44%	1.46%	1.42%	1.35%
Term loan
Financing Agreements
Long-term Debt, Gross	$ 155.3		$ 155.3		162
Debt Instrument, Interest Rate During Period	2.16%	1.76%	2.05%	1.61%
$150 senior unsecured notes, net of discount (1)
Financing Agreements
Long-term Debt, Gross	$ 149.4		$ 149.4
Total debt	148.7		148.7		148.5
$100 Series A Notes (2)
Financing Agreements
Long-term Debt, Gross	100		100
Total debt	99.6		99.6		99.6
Stated interest rate						4.60%
Borrowings [Member]
Financing Agreements
Total debt	$ 0.5		$ 0.5		$ 0.3

Financing Agreements - Narrativ

Financing Agreements - Narrative (Details)	3 Months Ended		6 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Dec. 19, 2014USD ($)	Dec. 15, 2014
Debt instrument [Line Items]
Maximum ratio of Indebtedness to EBITDA allowed			3.5
Minimum ratio of EBITDA to interest expense allowed			3.5
Restricted cash and cash equivalent	$ 3,300,000		$ 3,300,000		$ 800,000
$700 revolving credit facility (excluding outstanding letters of credit)
Debt instrument [Line Items]
Line of credit facility, maximum borrowing capacity	353,200,000		353,200,000			$ 700,000,000
Letters of Credit Outstanding, Amount	9,100,000		9,100,000
Line of credit facility, remaining borrowing capacity	$ 472,400,000		$ 472,400,000
Weighted average interest rates	1.44%	1.46%	1.42%	1.35%
Weighted average facility fee		0.21%	0.23%	0.19%
Term loan
Debt instrument [Line Items]
Debt instrument, face amount						$ 180,000,000
Weighted average interest rates	2.16%	1.76%	2.05%	1.61%
$150 senior unsecured notes, net of discount (1)
Debt instrument [Line Items]
Debt instrument, face amount	$ 150,000,000	$ 150,000,000	$ 150,000,000	$ 150,000,000
Debt Issuance Costs, Net	700,000		700,000		800,000
Other Financing Agreements
Debt instrument [Line Items]
Line of credit facility, maximum borrowing capacity	206,400,000		206,400,000
Line of credit facility, amount utilized for bank guarantees	118,900,000		118,900,000
$100 Series A Notes (2)
Debt instrument [Line Items]
Stated interest rate							4.60%
Debt instrument, face amount	100,000,000	$ 100,000,000	100,000,000	$ 100,000,000
Debt Issuance Costs, Net	800,000		800,000		400,000
Syndicated credit facility
Debt instrument [Line Items]
Line of credit facility, maximum borrowing capacity	150,000,000		150,000,000
Adjustments for New Accounting Pronouncement [Member]
Debt instrument [Line Items]
Debt Issuance Costs, Net	1,100,000		1,100,000		$ 1,200,000
Foreign Exchange Forward [Member] | Cash flow hedging
Debt instrument [Line Items]
Derivative, notional amount	$ 50,000,000		$ 50,000,000

Retirement Benefits (Details)

Retirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
U.S. Pension Benefits
Retirement and Postemployment Benefits
Service costs	$ 0.9	$ 1	$ 1.9	$ 2
Interest costs	2.1	2.3	4.3	4.7
Expected return on plan assets	(3.4)	(2.4)	(6.7)	(4.8)
Amortization of unrecognized prior service costs, net	0.1	0.2	0.2	0.3
Amortization of net loss	1	0.9	2.1	1.8
Net pension costs	0.7	2	1.8	4
Non-U.S. Pension Benefits
Retirement and Postemployment Benefits
Service costs	0.4	0.5	0.8	1.1
Interest costs	0.1	0.3	0.3	0.9
Expected return on plan assets	(0.2)	(0.2)	(0.3)	(0.5)
Amortization of unrecognized prior service costs, net	0	0	0	0
Amortization of net loss	0.7	0.2	0.7	0.4
Net pension costs	$ 1	$ 0.8	$ 1.5	$ 1.9

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Pension Contributions		$ 80
Postemployment Benefits, Period Expense	$ 0.1		$ 0.1	$ 0.2	$ 0.2
Defined Contribution Plan, Cost Recognized	$ 3.1		$ 2.3	$ 5.7	$ 4.6

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	30.50%	31.10%	27.90%	30.30%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income per common share
Net income	[1]	$ 33.4	$ 26.1	$ 55.1	$ 46.1
Weighted average shares outstanding (basic - in millions)		63,900,000	63,300,000	63,800,000	63,300,000
Effect of dilutive stock options and other unvested equity awards (in millions)		500,000	500,000	500,000	500,000
Weighted average shares outstanding (diluted - in millions)		64,400,000	63,800,000	64,300,000	63,800,000
Basic earnings per share		$ 0.52	$ 0.41	$ 0.86	$ 0.73
Diluted earnings per share		$ 0.52	$ 0.41	$ 0.86	$ 0.72
Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions)		600,000	1,300,000	900,000	700,000
Performance-based stock awards
Income per common share
Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions)				600,000	800,000
[1]	Net income attributable to Hillenbrand

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Antidilutive securities excluded from computation of earnings per share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	600,000	1,300,000	900,000	700,000
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			600,000	800,000

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Class of Stock [Line Items]
Cash dividends paid on common stock	$ 26	$ 25.4
Treasury Stock, Shares, Acquired	468,000
Amount of shares repurchased	$ 17	$ 4
Common stock, shares issued	687,000
Treasury Stock
Class of Stock [Line Items]
Common stock, shares issued	597,000

Other Comprehensive Income (L52

Other Comprehensive Income (Loss) - Schedule of changes in accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period				$ (129.8)
Other comprehensive income before reclassifications
Before tax amount				(0.4)	$ 5.7
Tax expense				(4.7)	(0.6)
After tax amount				(5.1)	5.1
Amounts reclassified from accumulated other comprehensive income(1)	[1]			2.1	0.8
Total changes in other comprehensive income (loss), net of tax		$ 13.1	$ 19.8	(3)	5.9
Balance at the end of the period		(133)		(133)
Pension and Postretirement
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period				(67.5)	(54.4)
Other comprehensive income before reclassifications
Before tax amount				11	0
Tax expense				(4)	0
After tax amount				7	0
Amounts reclassified from accumulated other comprehensive income(1)	[1]			1.9	0.5
Total changes in other comprehensive income (loss), net of tax				8.9	0.5
Balance at the end of the period		(58.6)	(53.9)	(58.6)	(53.9)
Currency Translation
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period				(61.6)	(52.1)
Other comprehensive income before reclassifications
Before tax amount				(13.6)	4.5
Tax expense				0	0
After tax amount				(13.6)	4.5
Amounts reclassified from accumulated other comprehensive income(1)	[1]			0	0
Total changes in other comprehensive income (loss), net of tax				(13.6)	4.5
Balance at the end of the period		(75.2)	(47.6)	(75.2)	(47.6)
Net Unrealized Gain (Loss) on Derivative Instruments
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period				(0.7)	(1.4)
Other comprehensive income before reclassifications
Before tax amount				2	1.3
Tax expense				(0.7)	(0.6)
After tax amount				1.3	0.7
Amounts reclassified from accumulated other comprehensive income(1)	[1]			0.2	0.3
Total changes in other comprehensive income (loss), net of tax				1.5	1
Balance at the end of the period		0.8	(0.4)	0.8	(0.4)
Total Attributable to Hillenbrand, Inc.
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period				(129.8)	(107.9)
Other comprehensive income before reclassifications
Before tax amount				(0.6)	5.8
Tax expense				(4.7)	(0.6)
After tax amount				(5.3)	5.2
Amounts reclassified from accumulated other comprehensive income(1)	[1]			2.1	0.8
Total changes in other comprehensive income (loss), net of tax				(3.2)	6
Balance at the end of the period		$ (133)	$ (101.9)	(133)	(101.9)
Noncontrolling Interests
Other comprehensive income before reclassifications
Before tax amount				0.2	(0.1)
Tax expense				0	0
After tax amount				0.2	(0.1)
Amounts reclassified from accumulated other comprehensive income(1)	[1]			0	0
Total changes in other comprehensive income (loss), net of tax				$ 0.2	$ (0.1)
[1]	Amounts are net of tax.

Other Comprehensive Income (L53

Other Comprehensive Income (Loss) - Schedule of reclassifications (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Affected Line in the Consolidated Statement of Operations:
Net revenue	[1]	$ 395.3	$ 387	$ 751.4	$ 738.7
Cost of goods sold		(246.7)	(244.3)	(476.8)	(467.8)
Operating expenses		(85.6)	(87.3)	(168.4)	(169.4)
Other income (expense), net		(0.6)	(0.9)	(1.9)	(1.6)
Tax expense		(14.9)	(12.3)	(21.6)	(21)
Total reclassifications for the period, net of tax	[2]			2.1	0.8
Amortization of Pension and Postretirement
Affected Line in the Consolidated Statement of Operations:
Total reclassifications for the period, net of tax	[2]			1.9	0.5
Derivative Instruments
Affected Line in the Consolidated Statement of Operations:
Total reclassifications for the period, net of tax	[2]			0.2	0.3
Reclassifications out of accumulated other comprehensive income (loss)
Affected Line in the Consolidated Statement of Operations:
Net revenue		0.1	(0.2)	0.2	0.3
Cost of goods sold		1.1	0.6	2	1.3
Operating expenses		0.7	0.3	1	0.5
Other income (expense), net		0	(0.1)	0.1	0.2
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		1.9	0.6	3.3	2.3
Tax expense		(0.7)	(1.1)	(1.2)	(1.5)
Total reclassifications for the period, net of tax		1.2	(0.5)	2.1	0.8
Reclassifications out of accumulated other comprehensive income (loss) | Net Loss Recognized
Affected Line in the Consolidated Statement of Operations:
Net revenue		0	0	0	0
Cost of goods sold		1.1	0.6	1.9	1.2
Operating expenses		0.6	0.2	0.9	0.4
Other income (expense), net		0	0	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		1.7	0.8	2.8	1.6
Reclassifications out of accumulated other comprehensive income (loss) | Prior Service Costs Recognized
Affected Line in the Consolidated Statement of Operations:
Net revenue		0	0	0	0
Cost of goods sold		0	0	0.1	0.1
Operating expenses		0.1	0.1	0.1	0.1
Other income (expense), net		0	0	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		0.1	0.1	0.2	0.2
Reclassifications out of accumulated other comprehensive income (loss) | Derivative Instruments
Affected Line in the Consolidated Statement of Operations:
Net revenue		0.1	(0.2)	0.2	0.3
Cost of goods sold		0	0	0	0
Operating expenses		0	0	0	0
Other income (expense), net		0	(0.1)	0.1	0.2
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		$ 0.1	$ (0.3)	$ 0.3	$ 0.5
[1]	We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.
[2]	Amounts are net of tax.

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of stock-based compensation costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Compensation Related Costs [Abstract]
Share-based compensation costs	$ 3.1	$ 3.1	$ 5.7	$ 3.7
Less impact of income tax benefit	1	1.2	2	1.4
Share-based compensation costs, net of tax	$ 2.1	$ 1.9	$ 3.7	$ 2.3

Share-Based Compensation - Sc55

Share-Based Compensation - Schedule of stock-based awards granted (Details)	6 Months Ended
	Mar. 31, 2017shares
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period	475,892
Time-based stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted in period	35,983
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	301,168

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details)	6 Months Ended
	Mar. 31, 2017$ / 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	$ 36.09
Stock option granted, weighted-average grant date fair value	8.38
Time-based stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, grant date fair value	36.19
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	$ 39.70
Performance-based stock awards granted, number of units | shares	157,787
Award performance measurement period	3 years

Other Income (Expense), Net (De

Other Income (Expense), Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Accumulated other comprehensive income (loss) [Line Items]
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions	$ 0.3	$ (0.1)	$ 1	$ (0.5)
Foreign currency exchange (loss) gain, net	(0.6)	0.2	(1.4)	0.1
Other, net	(0.3)	(1)	(1.5)	(1.2)
Other (expense) income, net	$ (0.6)	$ (0.9)	$ (1.9)	$ (1.6)

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
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 ($)	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Dec. 19, 2014
Financial assets and liabilities at carrying value and fair value
Cash and cash equivalents	$ 51,400,000	$ 52,000,000	$ 43,200,000	$ 48,300,000
Level 1
Assets:
Cash and cash equivalents	51,400,000
Investments in rabbi trust	3,900,000
Derivative instruments	0
Liabilities:
Derivative instruments	0
Level 2
Assets:
Cash and cash equivalents	0
Investments in rabbi trust	0
Derivative instruments	1,900,000
Liabilities:
Derivative instruments	3,700,000
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, Gross	149,400,000
$150 senior unsecured notes | Level 1
Liabilities:
Debt instruments	160,500,000
$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, Gross	218,500,000	198,500,000
Revolving credit facility | Level 1
Liabilities:
Debt instruments	0
Revolving credit facility | Level 2
Liabilities:
Debt instruments	218,500,000
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, Gross	155,300,000	$ 162,000,000
Term loan | Level 1
Liabilities:
Debt instruments	0
Term loan | Level 2
Liabilities:
Debt instruments	155,300,000
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, Gross	100,000,000
$100 Series A Notes | Level 1
Liabilities:
Debt instruments	0
$100 Series A Notes | Level 2
Liabilities:
Debt instruments	106,600,000
$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	193,000,000
Reported Value Measurement
Financial assets and liabilities at carrying value and fair value
Cash and cash equivalents	51,400,000
Assets:
Investments in rabbi trust	3,900,000
Derivative instruments	1,900,000
Liabilities:
Derivative instruments	$ 3,700,000

Segment and Geographical Info60

Segment and Geographical Information - Schedule of net revenue and assets by segment (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Segment and Geographical Information
Net revenue	[1]	$ 395.3	$ 387	$ 751.4	$ 738.7
Total assets assigned		1,893.2		1,893.2		$ 1,959.7
Property, plant, and equipment, net		145.4		145.4		152.5
United States
Segment and Geographical Information
Net revenue		227.3	220	428.7	419
Property, plant, and equipment, net		84.3		84.3		89.5
GERMANY
Segment and Geographical Information
Net revenue		115.8	107.5	220.2	200.8
Property, plant, and equipment, net		34.7		34.7		35.8
All other foreign business units
Segment and Geographical Information
Net revenue		52.2	59.5	102.5	118.9
Property, plant, and equipment, net		26.4		26.4		27.2
Operating segments
Segment and Geographical Information
Net revenue		395.3	387	751.4	738.7
Corporate
Segment and Geographical Information
Adjusted EBITDA		(9.7)	(10.2)	(17)	(17.2)
Total assets assigned		25.3		25.3		53.3
Process Equipment Group
Segment and Geographical Information
Net revenue		244.1	235.8	465.7	449.8
Process Equipment Group | Operating segments
Segment and Geographical Information
Adjusted EBITDA		37.3	35	70	67.9
Total assets assigned		1,659.2		1,659.2		1,694.6
Batesville
Segment and Geographical Information
Net revenue		151.2	151.2	285.7	288.9
Batesville | Operating segments
Segment and Geographical Information
Adjusted EBITDA		42.7	$ 43	73.7	$ 74.9
Total assets assigned		$ 208.7		$ 208.7		$ 211.8
[1]	We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.

Segment and Geographical Info61

Segment and Geographical Information - Schedule of reconciliation of segment (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Segment and Geographical Information
Interest income	$ (0.1)	$ (0.2)	$ (0.3)	$ (0.5)
Interest expense	6.3	6.4	12.4	12.3
Income tax expense	14.9	12.3	21.6	21
Depreciation and amortization	13.6	15.9	28.6	31.9
Business acquisition and integration	0.3	1.1	0.6	2.8
Business Combination, Inventory Step Up Costs	0	1.1	0	2.5
Restructuring and restructuring related	1.3	4	7.9	7.4
Consolidated net income	34	27.2	55.9	48.2
Corporate
Segment and Geographical Information
Adjusted EBITDA	(9.7)	(10.2)	(17)	(17.2)
Process Equipment Group | Operating segments
Segment and Geographical Information
Adjusted EBITDA	37.3	35	70	67.9
Batesville | Operating segments
Segment and Geographical Information
Adjusted EBITDA	$ 42.7	$ 43	$ 73.7	$ 74.9

Condensed Consolidating Infor62

Condensed Consolidating Information - Consolidating statements of income (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Percentage ownership of subsidiaries with indebtedness guaranteed by the parent		100.00%		100.00%
Condensed Consolidating Statements of Income
Schedule of condensed consolidating statements of income				Six Months Ended March 31, 2017 Six Months Ended March 31, 2016 Parent Guarantors Non- Eliminations Consolidated Parent Guarantors Non- Eliminations Consolidated Net revenue $ — $ 431.4 $ 420.4 $ (100.4 ) $ 751.4 $ — $ 415.1 $ 423.5 $ (99.9 ) $ 738.7 Cost of goods sold — 226.4 302.2 (51.8 ) 476.8 — 210.8 305.8 (48.8 ) 467.8 Gross profit — 205.0 118.2 (48.6 ) 274.6 — 204.3 117.7 (51.1 ) 270.9 Operating expenses 21.0 115.8 80.2 (48.6 ) 168.4 14.9 123.8 81.8 (51.1 ) 169.4 Amortization expense — 6.8 7.6 — 14.4 — 6.8 11.6 — 18.4 Interest expense 10.8 — 1.6 — 12.4 10.8 0.1 1.4 — 12.3 Other income (expense), net (0.4 ) (0.4 ) (1.1 ) — (1.9 ) (0.2 ) (2.1 ) 0.7 — (1.6 ) Equity in net income (loss) of subsidiaries 71.5 3.7 — (75.2 ) — 58.4 4.9 — (63.3 ) — Income (loss) before income taxes 39.3 85.7 27.7 (75.2 ) 77.5 32.5 76.4 23.6 (63.3 ) 69.2 Income tax expense (benefit) (15.8 ) 30.7 6.7 — 21.6 (13.6 ) 27.9 6.7 — 21.0 Consolidated net income 55.1 55.0 21.0 (75.2 ) 55.9 46.1 48.5 16.9 (63.3 ) 48.2 Less: Net income attributable to noncontrolling interests — — 0.8 — 0.8 — — 2.1 — 2.1 Net income (loss) (1) $ 55.1 $ 55.0 $ 20.2 $ (75.2 ) $ 55.1 $ 46.1 $ 48.5 $ 14.8 $ (63.3 ) $ 46.1 Consolidated comprehensive income (loss) $ 51.9 $ 59.7 $ 8.1 $ (66.8 ) $ 52.9 $ 52.1 $ 58.0 $ 22.5 $ (78.5 ) $ 54.1 Less: Comprehensive income attributable to noncontrolling interests — — 1.0 — 1.0 — — 2.0 — 2.0 Comprehensive income (loss) (2) $ 51.9 $ 59.7 $ 7.1 $ (66.8 ) $ 51.9 $ 52.1 $ 58.0 $ 20.5 $ (78.5 ) $ 52.1 (1) Net income attributable to Hillenbrand (2) Comprehensive income attributable to Hillenbrand Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 Parent Guarantors Non- Eliminations Consolidated Parent Guarantors Non- Eliminations Consolidated Net revenue $ — $ 228.7 $ 217.5 $ (50.9 ) $ 395.3 $ — $ 217.8 $ 218.3 $ (49.1 ) $ 387.0 Cost of goods sold — 117.2 156.7 (27.2 ) 246.7 — 108.6 159.1 (23.4 ) 244.3 Gross profit — 111.5 60.8 (23.7 ) 148.6 — 109.2 59.2 (25.7 ) 142.7 Operating expenses 11.4 57.1 40.8 (23.7 ) 85.6 7.7 63.7 41.6 (25.7 ) 87.3 Amortization expense — 3.4 3.8 — 7.2 — 4.5 4.1 — 8.6 Interest expense 5.4 — 0.9 — 6.3 5.6 0.1 0.7 — 6.4 Other income (expense), net (0.4 ) (0.4 ) 0.2 — (0.6 ) (0.3 ) (1.1 ) 0.5 — (0.9 ) Equity in net income (loss) of subsidiaries 42.7 1.5 — (44.2 ) — 32.0 2.7 — (34.7 ) — Income (loss) before income taxes 25.5 52.1 15.5 (44.2 ) 48.9 18.4 42.5 13.3 (34.7 ) 39.5 Income tax expense (benefit) (7.9 ) 19.0 3.8 — 14.9 (7.7 ) 15.9 4.1 — 12.3 Consolidated net income 33.4 33.1 11.7 (44.2 ) 34.0 26.1 26.6 9.2 (34.7 ) 27.2 Less: Net income attributable to noncontrolling interests — — 0.6 — 0.6 — — 1.1 — 1.1 Net income (loss) (1) $ 33.4 $ 33.1 $ 11.1 $ (44.2 ) $ 33.4 $ 26.1 $ 26.6 $ 8.1 $ (34.7 ) $ 26.1 Consolidated comprehensive income (loss) $ 46.2 $ 38.2 $ 19.7 $ (57.0 ) $ 47.1 $ 45.9 $ 27.2 $ 29.3 $ (55.4 ) $ 47.0 Less: Comprehensive income attributable to noncontrolling interests — — 0.9 — 0.9 — — 1.1 — 1.1 Comprehensive income (loss) (2) $ 46.2 $ 38.2 $ 18.8 $ (57.0 ) $ 46.2 $ 45.9 $ 27.2 $ 28.2 $ (55.4 ) $ 45.9
Net revenue	[1]	$ 395.3	$ 387	$ 751.4	$ 738.7
Cost of goods sold		246.7	244.3	476.8	467.8
Gross profit		148.6	142.7	274.6	270.9
Operating expenses		85.6	87.3	168.4	169.4
Amortization of Intangible Assets		7.2	8.6	14.4	18.4
Interest expense		6.3	6.4	12.4	12.3
Other income (expense), net		(0.6)	(0.9)	(1.9)	(1.6)
Income before income taxes		48.9	39.5	77.5	69.2
Income tax expense (benefit)		14.9	12.3	21.6	21
Consolidated net income		34	27.2	55.9	48.2
Less: Net income attributable to noncontrolling interests		0.6	1.1	0.8	2.1
Net income	[2]	33.4	26.1	55.1	46.1
Consolidated comprehensive income		47.1	47	52.9	54.1
Less: Comprehensive income attributable to noncontrolling interests		0.9	1.1	1	2
Comprehensive income (loss)	[3],[4]	46.2	45.9	51.9	52.1
Reportable legal entities | Parent
Condensed Consolidating Statements of Income
Operating expenses		11.4	7.7	21	14.9
Amortization of Intangible Assets		0	0	0	0
Interest expense		5.4	5.6	10.8	10.8
Other income (expense), net		(0.4)	(0.3)	(0.4)	(0.2)
Equity in net income (loss) of subsidiaries		42.7	32	71.5	58.4
Income before income taxes		25.5	18.4	39.3	32.5
Income tax expense (benefit)		(7.9)	(7.7)	(15.8)	(13.6)
Consolidated net income		33.4	26.1	55.1	46.1
Net income	[2]	33.4	26.1	55.1	46.1
Consolidated comprehensive income		46.2	45.9	51.9	52.1
Comprehensive income (loss)	[4]	46.2	45.9	51.9	52.1
Reportable legal entities | Guarantors
Condensed Consolidating Statements of Income
Net revenue		228.7	217.8	431.4	415.1
Cost of goods sold		117.2	108.6	226.4	210.8
Gross profit		111.5	109.2	205	204.3
Operating expenses		57.1	63.7	115.8	123.8
Amortization of Intangible Assets		3.4	4.5	6.8	6.8
Interest expense		0	0.1	0	0.1
Other income (expense), net		(0.4)	(1.1)	(0.4)	(2.1)
Equity in net income (loss) of subsidiaries		1.5	2.7	3.7	4.9
Income before income taxes		52.1	42.5	85.7	76.4
Income tax expense (benefit)		19	15.9	30.7	27.9
Consolidated net income		33.1	26.6	55	48.5
Net income	[2]	33.1	26.6	55	48.5
Consolidated comprehensive income		38.2	27.2	59.7	58
Comprehensive income (loss)	[4]	38.2	27.2	59.7	58
Reportable legal entities | Non-Guarantors
Condensed Consolidating Statements of Income
Net revenue		217.5	218.3	420.4	423.5
Cost of goods sold		156.7	159.1	302.2	305.8
Gross profit		60.8	59.2	118.2	117.7
Operating expenses		40.8	41.6	80.2	81.8
Amortization of Intangible Assets		3.8	4.1	7.6	11.6
Interest expense		0.9	0.7	1.6	1.4
Other income (expense), net		0.2	0.5	(1.1)	0.7
Income before income taxes		15.5	13.3	27.7	23.6
Income tax expense (benefit)		3.8	4.1	6.7	6.7
Consolidated net income		11.7	9.2	21	16.9
Less: Net income attributable to noncontrolling interests		0.6	1.1	0.8	2.1
Net income	[2]	11.1	8.1	20.2	14.8
Consolidated comprehensive income		19.7	29.3	8.1	22.5
Less: Comprehensive income attributable to noncontrolling interests		0.9	1.1	1	2
Comprehensive income (loss)	[4]	18.8	28.2	7.1	20.5
Eliminations
Condensed Consolidating Statements of Income
Net revenue		(50.9)	(49.1)	(100.4)	(99.9)
Cost of goods sold		(27.2)	(23.4)	(51.8)	(48.8)
Gross profit		(23.7)	(25.7)	(48.6)	(51.1)
Operating expenses		(23.7)	(25.7)	(48.6)	(51.1)
Interest expense				0
Other income (expense), net		0		0
Equity in net income (loss) of subsidiaries		(44.2)	(34.7)	(75.2)	(63.3)
Income before income taxes		(44.2)	(34.7)	(75.2)	(63.3)
Consolidated net income		(44.2)	(34.7)	(75.2)	(63.3)
Net income	[2]	(44.2)	(34.7)	(75.2)	(63.3)
Consolidated comprehensive income		(57)	(55.4)	(66.8)	(78.5)
Comprehensive income (loss)	[4]	$ (57)	$ (55.4)	$ (66.8)	$ (78.5)
[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 Infor63

Condensed Consolidating Information - Consolidating balance sheet (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
ASSETS
Cash and cash equivalents	$ 51.4	$ 52	$ 43.2	$ 48.3
Trade receivables, net	193.2	205
Unbilled receivables from long-term manufacturing contracts	139.1	125.8
Inventories	150.2	153.1
Deferred income taxes	0	23.9
Prepaid expense	23.5	18.2
Other current assets	20	22.3
Total current assets	577.4	600.3
Property, plant, and equipment, net	145.4	152.5
Intangible assets, net	516.2	541.5
Goodwill	620	634.3
Other assets	34.2	31.1
Total Assets	1,893.2	1,959.7
LIABILITIES
Trade accounts payable	132.3	135.7
Liabilities from long-term manufacturing contracts and advances	90.6	78.6
Current portion of long-term debt	16.2	13.8
Accrued compensation	50.5	57.3
Deferred income taxes	0	22.8
Other current liabilities	119.5	125.5
Total current liabilities	409.1	433.7
Long-term debt	606.4	595.1
Accrued pension and postretirement healthcare	132.9	232.7
Deferred income taxes	45.4	22.6
Other long-term liabilities	27.6	29.4
Total Liabilities	1,221.4	1,313.5
Hillenbrand Shareholders’ Equity	656.9	632.3
Stockholders' Equity Attributable to Parent [Abstract]
Noncontrolling interests	14.9	13.9
Total Shareholders’ Equity	671.8	646.2
Total Liabilities and Equity	1,893.2	1,959.7
Reportable legal entities | Parent
ASSETS
Cash and cash equivalents	0.4	4.4	0.9	0.3
Deferred income taxes	0	1.6
Prepaid expense	2.3	2.2
Intercompany receivables	0	0
Other current assets	0.2	4.6
Total current assets	2.9	12.8
Property, plant, and equipment, net	4.6	4.9
Intangible assets, net	3.9	4.1
Investment in consolidated subsidiaries	2,118.8	2,143.4
Other assets	19.9	18.9
Total Assets	2,150.1	2,184.1
LIABILITIES
Trade accounts payable	0.4	0.4
Current portion of long-term debt	15.7	13.5
Accrued compensation	3.9	4.7
Intercompany payables	993.1	1,098.8
Other current liabilities	14.1	13.9
Total current liabilities	1,027.2	1,131.3
Long-term debt	463.8	416.6
Accrued pension and postretirement healthcare	1.1	1.1
Deferred income taxes	0	0
Other long-term liabilities	1.1	2.8
Total Liabilities	1,493.2	1,551.8
Hillenbrand Shareholders’ Equity	656.9	632.3
Stockholders' Equity Attributable to Parent [Abstract]
Total Shareholders’ Equity	656.9	632.3
Total Liabilities and Equity	2,150.1	2,184.1
Reportable legal entities | Guarantors
ASSETS
Cash and cash equivalents	4.9	5.6	6.7	7.1
Trade receivables, net	111.3	120.6
Unbilled receivables from long-term manufacturing contracts	10.9	10.6
Inventories	69.3	69.8
Deferred income taxes	0	17.4
Prepaid expense	10.2	6.5
Intercompany receivables	913.3	1,003.1
Other current assets	2	1.5
Total current assets	1,121.9	1,235.1
Property, plant, and equipment, net	63.3	65.7
Intangible assets, net	218.2	220.4
Goodwill	283.8	271.8
Investment in consolidated subsidiaries	664.2	820.2
Other assets	23.2	22.7
Total Assets	2,374.6	2,635.9
LIABILITIES
Trade accounts payable	31.1	28.4
Liabilities from long-term manufacturing contracts and advances	22.8	14
Accrued compensation	15	17.3
Deferred income taxes		0
Intercompany payables	4.3	4.5
Other current liabilities	40.2	39.8
Total current liabilities	113.4	104
Accrued pension and postretirement healthcare	34.3	127
Deferred income taxes	10.7	5.8
Other long-term liabilities	16.7	16.3
Total Liabilities	175.1	253.1
Hillenbrand Shareholders’ Equity	2,199.5	2,382.8
Stockholders' Equity Attributable to Parent [Abstract]
Total Shareholders’ Equity	2,199.5	2,382.8
Total Liabilities and Equity	2,374.6	2,635.9
Reportable legal entities | Non-Guarantors
ASSETS
Cash and cash equivalents	46.1	42	$ 35.6	$ 40.9
Trade receivables, net	81.9	84.4
Unbilled receivables from long-term manufacturing contracts	128.2	115.2
Inventories	83.4	86.1
Deferred income taxes	0	0
Prepaid expense	11	9.5
Intercompany receivables	81.6	97.4
Other current assets	17.4	15.9
Total current assets	449.6	450.5
Property, plant, and equipment, net	77.5	81.9
Intangible assets, net	294.1	317
Goodwill	336.2	362.5
Other assets	3.1	0.8
Total Assets	1,160.5	1,212.7
LIABILITIES
Trade accounts payable	100.8	106.9
Liabilities from long-term manufacturing contracts and advances	67.8	64.6
Current portion of long-term debt	0.5	0.3
Accrued compensation	31.6	35.3
Deferred income taxes	0	18.1
Other current liabilities	64.6	71.6
Total current liabilities	265.3	296.8
Long-term debt	142.6	178.5
Accrued pension and postretirement healthcare	97.5	104.6
Deferred income taxes	46.9	27.8
Other long-term liabilities	9.8	10.3
Total Liabilities	562.1	618
Hillenbrand Shareholders’ Equity	583.5	580.8
Stockholders' Equity Attributable to Parent [Abstract]
Noncontrolling interests	14.9	13.9
Total Shareholders’ Equity	598.4	594.7
Total Liabilities and Equity	1,160.5	1,212.7
Consolidation, Eliminations [Member]
ASSETS
Inventories	(2.5)	(2.8)
Deferred income taxes		4.9
Intercompany receivables	(994.9)	(1,100.5)
Other current assets	0.4	0.3
Total current assets	(997)	(1,098.1)
Investment in consolidated subsidiaries	(2,783)	(2,963.6)
Other assets	(12)	(11.3)
Total Assets	(3,792)	(4,073)
LIABILITIES
Trade accounts payable	0	0
Deferred income taxes		4.7
Intercompany payables	(997.4)	(1,103.3)
Other current liabilities	0.6	0.2
Total current liabilities	(996.8)	(1,098.4)
Deferred income taxes	(12.2)	(11)
Other long-term liabilities	0
Total Liabilities	(1,009)	(1,109.4)
Hillenbrand Shareholders’ Equity	(2,783)	(2,963.6)
Stockholders' Equity Attributable to Parent [Abstract]
Total Shareholders’ Equity	(2,783)	(2,963.6)
Total Liabilities and Equity	$ (3,792)	$ (4,073)

Condensed Consolidating Infor64

Condensed Consolidating Information - Consolidating cash flow statement (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Condensed Cash Flow Statements
Net cash provided by (used in) operating activities		$ 19.8	$ 87.2
Investing activities:
Capital expenditures		(9.1)	(9.1)
Proceeds from sales of property, plant, and equipment		2.2	0.9
Payments to Acquire Businesses, Net of Cash Acquired	$ (237)	0	(237)
Other, net		(0.1)	0
Net cash used in investing activities		(7)	(245.2)
Financing activities:
Repayments on term loan		(6.7)	(4.5)
Proceeds from revolving credit facilities		551.7	387.5
Repayments on revolving credit facilities		(524.8)	(199.1)
Payment of dividends on common stock		(26)	(25.4)
Repurchases of common stock		(17)	(4)
Net proceeds (payments) on stock plans		10.2	(0.5)
Other, net		(0.2)	0.5
Net cash (used in) provided by financing activities		(12.8)	154.5
Effect of exchange rates on cash and cash equivalents		(0.6)	(1.6)
Net cash flows		(0.6)	(5.1)
At beginning of period		52	48.3
At end of period	43.2	51.4	43.2
Reportable legal entities | Parent
Condensed Cash Flow Statements
Net cash provided by (used in) operating activities		(22.9)	(112.7)
Investing activities:
Capital expenditures		(0.4)	(1.3)
Proceeds from sales of property, plant, and equipment			0
Other, net		2.7	0
Net cash used in investing activities		2.3	(1.3)
Financing activities:
Repayments on term loan		(6.7)	(4.5)
Proceeds from revolving credit facilities		189.1	262
Repayments on revolving credit facilities		(133)	(113.9)
Payment of dividends on common stock		(26)	(25.4)
Repurchases of common stock		(17)	(4)
Net proceeds (payments) on stock plans		10.2	(0.5)
Other, net		0	0.9
Net cash (used in) provided by financing activities		16.6	114.6
Net cash flows		(4)	0.6
At beginning of period		4.4	0.3
At end of period	0.9	0.4	0.9
Reportable legal entities | Guarantors
Condensed Cash Flow Statements
Net cash provided by (used in) operating activities		124.4	238.4
Investing activities:
Capital expenditures		(4)	(3.4)
Proceeds from sales of property, plant, and equipment		1.8	0.5
Payments to Acquire Businesses, Net of Cash Acquired			(131.3)
Other, net		(0.3)	0
Net cash used in investing activities		(2.5)	(134.2)
Financing activities:
Payment of Intercompany Dividends		(122.6)	(104.6)
Net cash (used in) provided by financing activities		(122.6)	(104.6)
Net cash flows		(0.7)	(0.4)
At beginning of period		5.6	7.1
At end of period	6.7	4.9	6.7
Reportable legal entities | Non-Guarantors
Condensed Cash Flow Statements
Net cash provided by (used in) operating activities		47	71.5
Investing activities:
Capital expenditures		(4.7)	(4.4)
Proceeds from sales of property, plant, and equipment		0.4	0.4
Payments to Acquire Businesses, Net of Cash Acquired		0	(105.7)
Other, net		(2.5)	0
Net cash used in investing activities		(6.8)	(109.7)
Financing activities:
Proceeds from revolving credit facilities		362.6	125.5
Repayments on revolving credit facilities		(391.8)	(85.2)
Payment of Intercompany Dividends		(6.1)	(5.4)
Other, net		(0.2)	(0.4)
Net cash (used in) provided by financing activities		(35.5)	34.5
Effect of exchange rates on cash and cash equivalents		(0.6)	(1.6)
Net cash flows		4.1	(5.3)
At beginning of period		42	40.9
At end of period	$ 35.6	46.1	35.6
Eliminations
Condensed Cash Flow Statements
Net cash provided by (used in) operating activities		(128.7)	(110)
Financing activities:
Payment of Intercompany Dividends		128.7	110
Net cash (used in) provided by financing activities		$ 128.7	$ 110

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring and restructuring related	$ 1.3	$ 4	$ 7.9	$ 7.4
Restructuring reserve, current	$ 3.9		$ 3.9

Restructuring Restructuring - S

Restructuring Restructuring - Schedule of restructuring charges by line and segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 0.9	$ 3.6	$ 8.8	$ 7
Process Equipment Group
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0.3	2.7	0	5.9
Batesville
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0.1	0.8	6.4	0.8
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0.5	0.1	2.1	0.3
Cost of Goods, Total [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0.1	0.9	6.4	2.9
Operating Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0.8	2.7	2.4	4.1
Operating Expense [Member] | Process Equipment Group
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0.3	1.9	0	3.1
Operating Expense [Member] | Batesville
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	0.7	0	0.7
Operating Expense [Member] | Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0.5	0.1	2.1	0.3
Cost of Goods, Segment [Member] | Process Equipment Group
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	0.8	0	2.8
Cost of Goods, Segment [Member] | Batesville
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0.1	0.1	6.4	0.1
Cost of Goods, Segment [Member] | Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 0	$ 0	$ 0	$ 0

Business Acquisitions (Details)

Business Acquisitions (Details) € in Millions	Feb. 01, 2016USD ($)	Oct. 02, 2015USD ($)	Oct. 02, 2015EUR (€)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Feb. 01, 2016EUR (€)	Dec. 19, 2014USD ($)
Business Acquisition [Line Items]
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed				$ 300,000	$ 1,100,000	$ 600,000	$ 2,800,000
ABEL Pumps LP and Abel GmbH & Co. KG [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross | €			€ 95
Goodwill, Acquired During Period		$ 36,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		58,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equipment		14,000,000
Red Valve Company, Inc. [Member] [Domain]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 130,400,000
Goodwill, Acquired During Period	59,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	61,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equipment | €								€ 10
$700 revolving credit facility (excluding outstanding letters of credit)
Business Acquisition [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 353,200,000		$ 353,200,000			$ 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
Technology [Member] | Red Valve Company, Inc. [Member] [Domain]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	8,000,000
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
Trade Names [Member] | Red Valve Company, Inc. [Member] [Domain]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	4,000,000
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
Order or Production Backlog [Member] | Red Valve Company, Inc. [Member] [Domain]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	1,000,000
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
Customer Relationships [Member] | Red Valve Company, Inc. [Member] [Domain]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 48,000,000