Hillenbrand (HI) 10-Q 3 Feb 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Dec. 31, 2020	Jan. 28, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-33794
Entity Registrant Name	HILLENBRAND, INC.
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	26-1342272
Entity Address, Address Line One	One Batesville Boulevard
Entity Address, City or Town	Batesville
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47006
City Area Code	812
Local Phone Number	934-7500
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	HI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		75,052,673
Entity Central Index Key	0001417398
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The significant accounting policies used in preparing the Consolidated Financial Statements are consistent with the accounting policies described in the Company’s Annual Report on Form 10-K as of and for the year ended September 30, 2020, except as described below. Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Measurement of Credit Losses on Financial Statements (“ASU 2016-13”). ASU 2016-13 replaces the current incurred loss impairment model with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. ASU 2016-13 became effective for the Company’s fiscal year beginning on October 1, 2020. As a result of the Company's assessment on its trade receivables and receivables from long-term manufacturing contracts, ASU 2016-13 did not have a material impact on the Consolidated Financial Statements. In February 2018, the FASB issued ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”). ASU 2018-02 allows for the reclassification of stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) from accumulated other comprehensive loss to retained earnings. The Company adopted ASU 2018-02 on October 1, 2019, which resulted in a one-time decrease to accumulated other comprehensive loss and an increase to retained earnings of $6.0 on the Consolidated Balance Sheet, primarily related to deferred taxes previously recorded for pension and other postretirement benefits. The adoption of ASU 2018-02 did not have an impact to the Consolidated Statements of Operations or Consolidated Statements of Cash Flows. Recently Issued Accounting Standards In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 clarifies and simplifies accounting for income taxes by eliminating certain exceptions for intraperiod tax allocation principles, the methodology for calculating income tax rates in an interim period, and recognition of deferred taxes for outside basis differences in an investment, among other updates. ASU 2019-12 will be effective for the Company’s fiscal year beginning on October 1, 2021. The Company is currently evaluating the impact of ASU 2019-12 on the Consolidated Financial Statements. No other new accounting pronouncements recently adopted or issued had or are expected to have a material impact on the Consolidated Financial Statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Revenue [Policy Text Block]	Net revenue includes gross revenue less sales discounts, customer rebates, sales incentives, and product returns, all of which require the Company to make estimates for the portion of these allowances that have yet to be credited or paid to customers. The Company estimates these allowances using the expected value method, which is based upon historical rates and projections of customer purchases toward contractual rebate thresholds.
Revenue Recognition, Deferred Revenue [Policy Text Block]	Contract balances The balance in receivables from long-term manufacturing contracts at December 31, 2020 and September 30, 2020 was $158.9 and $138.1, respectively. The change was driven by the impact of net revenue recognized prior to billings. The balance in the liabilities from long-term manufacturing contracts and advances at December 31, 2020 and September 30, 2020 was $214.1 and $189.1, respectively, and consists primarily of cash payments received or due in advance of satisfying performance obligations. The revenue recognized for the three months ended December 31, 2020 and 2019 related to liabilities from long-term manufacturing contracts and advances as of September 30, 2020 and 2019 was $80.1 and $55.3, respectively. During the three months ended December 31, 2020 and 2019, the adjustments related to performance obligations satisfied in previous periods were immaterial. Transaction price allocated to the remaining performance obligations

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Net revenue	$ 692.5	$ 566.9
Cost of goods sold	448.3	395.1
Gross profit	244.2	171.8
Operating expenses	131.6	157.4
Amortization expense	13.6	14.8
Gain on divestiture	(31.6)	0
Interest expense	21.2	14.7
Other (expense) income, net	(0.4)	1.9
Income (loss) before income taxes	109	(13.2)
Income tax expense (benefit)	31.3	(12.4)
Consolidated net income (loss)	77.7	(0.8)
Less: Net income attributable to noncontrolling interests	1.3	2.3
Net income (loss)	$ 76.4	$ (3.1)
Net income attributable to Hillenbrand  — per share of common stock:
Basic earnings (loss) per share	$ 1.01	$ (0.05)
Diluted earnings (loss) per share	$ 1.01	$ (0.05)
Weighted average shares outstanding (basic)	75.3	68.4
Weighted average shares outstanding (diluted)	75.5	68.4

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Consolidated net income (loss)	$ 77.7	$ (0.8)
Changes in other comprehensive income, net of tax
Currency translation adjustment	59.3	17.3
Pension and postretirement (net of tax of $0.3 and $0.5)	1.2	1.1
Change in net unrealized gain on derivative instruments (net of tax of $0.3 and $0.2)	1.7	1.4
Total changes in other comprehensive income, net of tax	62.2	19.8
Consolidated comprehensive income	139.9	19
Less: Comprehensive income attributable to noncontrolling interests	1.4	2.2
Comprehensive income (loss)	$ 138.5	$ 16.8

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Pension and postretirement, tax	$ 0.3	$ 0.5
Change in net unrealized gain (loss) on derivative instruments, tax	$ 0.3	$ 0.5

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020
Current Assets
Cash and cash equivalents	$ 265.8	$ 302.2
Trade receivables, net	307	279.5
Receivables from long-term manufacturing contracts	158.9	138.1
Inventories, net	388.5	385.4
Prepaid expenses and other current assets	85.1	83.2
Current assets held for sale	150	181.3
Total current assets	1,355.3	1,369.7
Property, plant, and equipment, net	307.6	314.2
Operating lease right-of-use assets	153	154.4
Intangible assets, net	965.9	960.7
Goodwill	1,185.9	1,137.8
Other long-term assets	47.6	50.6
Total Assets	4,015.3	3,987.4
Current Liabilities
Trade accounts payable	274.2	271.6
Liabilities from long-term manufacturing contracts and advances	214.1	189.1
Current portion of long-term debt	28.1	36.3
Accrued compensation	80.8	96.1
Current liabilities held for sale	23.6	32.5
Other current liabilities	254.7	226.5
Total current liabilities	875.5	852.1
Long-term debt	1,368.3	1,516.3
Accrued pension and postretirement healthcare	171.8	166.8
Operating lease liabilities	119.9	120.9
Deferred Income Tax Liabilities, Net	204.7	185.8
Other long-term liabilities	68.8	66.1
Total Liabilities	2,809	2,908
Commitments and contingencies (Note 15)
SHAREHOLDERS’ EQUITY
Common stock, no par value (75.8 and 75.8 shares issued, 75.1 and 74.8 shares outstanding)	0	0
Additional paid-in capital	717.2	723.6
Retained earnings	541.4	481.4
Treasury stock (0.7 and 1.0 shares)	(32)	(43.2)
Accumulated other comprehensive loss	(40.7)	(102.8)
Hillenbrand Shareholders’ Equity	1,185.9	1,059
Noncontrolling interests	20.4	20.4
Total Shareholders’ Equity	1,206.3	1,079.4
Total Liabilities and Shareholders’ Equity	$ 4,015.3	$ 3,987.4

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Dec. 31, 2020	Sep. 30, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)
Common stock, shares issued	75.8	75.8
Common stock, shares outstanding	75.1	74.8
Treasury stock, shares	0.7	1

Consolidated Statements of Cash

Consolidated Statements of Cash Flow - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating Activities
Consolidated net income (loss)	$ 77,700	$ (800)
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization	29,300	25,900
Gain on divestiture	(31,600)	0
Deferred income taxes	14,400	(29,000)
Amortization of deferred financing costs	1,700	500
Share-based compensation	4,200	2,300
Settlement of Milacron share-based equity awards	0	(5,900)
Trade accounts receivable and receivables from long-term manufacturing contracts	(32,800)	(9,400)
Inventories, net	(2,100)	26,300
Prepaid expenses and other current assets	(5,100)	14,500
Trade accounts payable	(5,500)	(1,800)
accrued compensation, and other current liabilities	9,300	(21,300)
Income taxes payable	8,100	6,500
Defined benefit plan and postretirement funding	(2,300)	(2,700)
Defined benefit plan and postretirement expense	800	1,500
Other, net	100	(600)
Net cash provided by operating activities	66,200	17,800
Investing Activities
Capital expenditures	(5,600)	(6,300)
Proceeds from sales of property, plant, and equipment	0	13,300
Acquisition of businesses, net of cash acquired	0	(1,503,100)
Proceeds from divestiture, net of cash divested	59,400	0
Net cash provided by (used in) investing activities	53,800	(1,496,100)
Financing Activities
Proceeds from issuance of long-term debt	0	725,000
Repayments on long-term debt	(220,000)	(9,100)
Proceeds from revolving credit facilities	226,000	747,500
Repayments on revolving credit facilities	(163,000)	(222,500)
Payment of deferred financing costs	0	(5,400)
Payments of dividends on common stock	(16,100)	(15,800)
Proceeds from stock option exercises	3,200	200
Payments for employee taxes on net settlement equity awards	(2,900)	(1,800)
Other, net	(1,300)	3,300
Net cash (used in) provided by financing activities	(174,100)	1,221,400
Effect of exchange rates on cash and cash equivalents	9,700	400
Net cash flows	(44,400)	(256,500)
Cash, cash equivalents, and restricted cash:
At beginning of period	311,800	399,400
At end of period	$ 267,400	$ 142,900

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flow Cash, Cash Equivalents, and Restricted Cash - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 265.8	$ 302.2	$ 142.4
Short-term restricted cash included in other current assets	1.6		0.5
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$ 267.4	$ 311.8	$ 142.9	$ 399.4

Consolidated Statements of Shar

Consolidated Statements of Shareholders Equity Statement - USD ($) $ in Millions	Total	Common Stock [Member]	Common Stock [Member]Molding Technology Solutions	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock	AOCI Attributable to Parent [Member]	Noncontrolling Interests
Common Stock, Dividends, Per Share, Declared	$ 0.2125
Balance at Sep. 30, 2019	$ 769.8			$ 345.3	$ 599.5	$ (50.1)	$ (140.6)	$ 15.7
Balance, shares at Sep. 30, 2019		63,900,000				1,200,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total other comprehensive income (loss), net of tax	19.8						19.9	(0.1)
Consolidated net income (loss)	(0.8)				(3.1)			2.3
Common stock, shares issued		0				(100,000)
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture	(1.6)			(6.1)		$ 4.5
Share-based compensation	2.3			2.3
Other	0				6		(6)
Dividends, Common Stock	(17)			(0.1)	(15.9)			(1.2)
Balance at Dec. 31, 2019	1,143.8			712.9	586.5	$ (45.6)	(126.7)	16.7
Balance, shares at Dec. 31, 2019		75,800,000				1,100,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Acquisitions			11,900,000
Stock Issued During Period, Value, Acquisitions	$ 371.3			371.3
Common Stock, Dividends, Per Share, Declared	$ 0.2150
Balance at Sep. 30, 2020	$ 1,079.4			723.6	481.4	$ (43.2)	(102.8)	20.4
Balance, shares at Sep. 30, 2020		75,800,000				1,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total other comprehensive income (loss), net of tax	62.2						62.1	0.1
Consolidated net income (loss)	77.7				76.4			1.3
Common stock, shares issued		0				(300,000)
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture	0.3			(10.9)		$ 11.2
Share-based compensation	4.2			4.2
Dividends, Common Stock	(17.5)			(0.3)	(16.4)			(1.4)
Balance at Dec. 31, 2020	$ 1,206.3			$ 717.2	$ 541.4	$ (32)	$ (40.7)	$ 20.4
Balance, shares at Dec. 31, 2020		75,800,000				700,000

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Information	Supplemental Consolidated Balance Sheet Information December 31, September 30, Allowance for doubtful accounts $ 28.9 $ 24.0 Warranty reserves $ 25.6 $ 23.8 Accumulated depreciation on property, plant, and equipment $ 357.5 $ 342.1 Inventories, net: Raw materials and components $ 139.6 $ 133.3 Work in process 94.7 88.7 Finished goods 154.2 163.4 Total inventories, net $ 388.5 $ 385.4

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Schedule of supplemental balance sheet information	December 31, September 30, Allowance for doubtful accounts $ 28.9 $ 24.0 Warranty reserves $ 25.6 $ 23.8 Accumulated depreciation on property, plant, and equipment $ 357.5 $ 342.1 Inventories, net: Raw materials and components $ 139.6 $ 133.3 Work in process 94.7 88.7 Finished goods 154.2 163.4 Total inventories, net $ 388.5 $ 385.4

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information - Schedule of supplemental balance sheet information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Short-term restricted cash included in other current assets	$ 1.6
Allowance for doubtful accounts	28.9	$ 24
Warranty reserves	25.6	23.8
Accumulated depreciation on property, plant, and equipment	357.5	342.1
Inventories, net:
Raw materials and components	139.6	133.3
Work in process	94.7	88.7
Finished goods	154.2	163.4
Total inventories, net	$ 388.5	$ 385.4

Background and Basis of Present

Background and Basis of Presentation	3 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Background and Basis of Presentation Hillenbrand, Inc. (the “Company” or “Hillenbrand”) is a global diversified industrial company with multiple leading brands that serve a wide variety of industries around the world. The Company strives to provide superior return for our shareholders, exceptional value for our customers, great professional opportunities for our employees, and to be responsible to our communities 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 the Company’s 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 the Company’s businesses both bigger and better. The Company’s goal is to continue developing Hillenbrand as a world-class global diversified industrial company through the deployment of the HOM. Hillenbrand’s portfolio is composed of three reportable operating segments: Advanced Process Solutions designs, develops, manufactures, and services highly engineered industrial equipment around the world. Molding Technology Solutions is a global leader in highly engineered and customized systems in plastic technology and processing. Batesville is a recognized leader in the death care industry in North America. “Hillenbrand,” the “Company,” “we,” “us,” “our,” and similar words refer to Hillenbrand and its subsidiaries unless context otherwise requires. The accompanying unaudited Consolidated Financial Statements include the accounts of Hillenbrand and its subsidiaries. They also include two 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 United States generally accepted accounting principles (“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 the Company’s latest Annual Report on Form 10-K for the year ended September 30, 2020, as filed with the SEC on November 12, 2020. In the opinion of management, these Consolidated 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 flows as of the dates and for the periods presented and are normal and recurring in nature. The interim period results are subject to variation and are not necessarily indicative of the results of operations to be expected for the full fiscal year. The preparation of the Consolidated Financial Statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses 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, carrying value of businesses held for sale, 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. On March 11, 2020, the World Health Organization declared the outbreak of the novel strain of coronavirus (“COVID-19”) a global pandemic and recommended containment and mitigation measures worldwide, and the effects of the COVID-19 pandemic and such associated measures on management’s estimates and results of operations through December 31, 2020 are reflected in the Consolidated Financial Statements. Given the unprecedented nature of the COVID-19 pandemic, the Company cannot reasonably estimate the full extent of the impact that the COVID-19 pandemic will have on its consolidated financial condition, results of operations, or cash flows in the foreseeable future. The ultimate impact of the COVID-19 pandemic on the Company is highly uncertain and will depend on future developments, and such impacts could exist for an extended period of time, even after the COVID-19 pandemic subsides. Events and changes in circumstances arising after December 31, 2020, including those resulting from the ongoing impacts of the COVID-19 pandemic, will be reflected in management’s estimates for future periods in subsequent periodic filings.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Net revenue includes gross revenue less sales discounts, customer rebates, sales incentives, and product returns, all of which require the Company to make estimates for the portion of these allowances that have yet to be credited or paid to customers. The Company estimates these allowances using the expected value method, which is based upon historical rates and projections of customer purchases toward contractual rebate thresholds. Contract balances The balance in receivables from long-term manufacturing contracts at December 31, 2020 and September 30, 2020 was $158.9 and $138.1, respectively. The change was driven by the impact of net revenue recognized prior to billings. The balance in the liabilities from long-term manufacturing contracts and advances at December 31, 2020 and September 30, 2020 was $214.1 and $189.1, respectively, and consists primarily of cash payments received or due in advance of satisfying performance obligations. The revenue recognized for the three months ended December 31, 2020 and 2019 related to liabilities from long-term manufacturing contracts and advances as of September 30, 2020 and 2019 was $80.1 and $55.3, respectively. During the three months ended December 31, 2020 and 2019, the adjustments related to performance obligations satisfied in previous periods were immaterial. Transaction price allocated to the remaining performance obligations As of December 31, 2020, the aggregate amount of transaction price of remaining performance obligations, which corresponds to backlog as defined in Item 2 of this Form 10-Q, for the Company was $1,362.6. Approximately 78% of these performance obligations are expected to be satisfied over the next twelve months, and the remaining performance obligations, primarily within one to three years. Disaggregation of revenue The following tables present net revenue by end market: Three Months Ended December 31, 2020 Advanced Process Solutions Molding Technology Solutions Batesville Total End Market Plastics $ 194.7 $ — $ — $ 194.7 Automotive — 36.5 — 36.5 Chemicals 19.1 — — 19.1 Consumer goods — 39.0 — 39.0 Food and pharmaceuticals 22.8 — — 22.8 Custom molders — 38.9 — 38.9 Construction — 20.4 — 20.4 Packaging — 31.7 — 31.7 Minerals and mining 11.9 — — 11.9 Electronics — 18.4 — 18.4 Medical — 21.2 — 21.2 Death care — — 164.8 164.8 Other industrial 42.3 30.8 — 73.1 Total $ 290.8 $ 236.9 $ 164.8 $ 692.5 Three Months Ended December 31, 2019 Advanced Process Solutions Molding Technology Solutions Batesville Total End Market Plastics $ 202.0 $ — $ — $ 202.0 Automotive — 25.0 — 25.0 Chemicals 24.4 — — 24.4 Consumer goods — 22.4 — 22.4 Food and pharmaceuticals 18.0 — — 18.0 Custom molders — 16.8 — 16.8 Construction — 16.8 — 16.8 Packaging — 13.8 — 13.8 Minerals and mining 13.3 — — 13.3 Electronics — 8.3 — 8.3 Medical — 5.3 — 5.3 Death care — — 127.0 127.0 Other industrial 48.9 24.9 — 73.8 Total $ 306.6 $ 133.3 $ 127.0 $ 566.9 The following tables present net revenue by geographical market: Three Months Ended December 31, 2020 Advanced Process Solutions Molding Technology Solutions Batesville Total Geographical Markets Americas $ 82.1 $ 124.7 $ 164.8 $ 371.6 Asia 127.9 73.3 — 201.2 Europe, the Middle East, and Africa 80.8 38.9 — 119.7 Total $ 290.8 $ 236.9 $ 164.8 $ 692.5 Three Months Ended December 31, 2019 Advanced Process Solutions Molding Technology Solutions Batesville Total Geographical Markets Americas $ 112.9 $ 80.4 $ 127.0 $ 320.3 Asia 108.3 32.9 — 141.2 Europe, the Middle East, and Africa 85.4 20.0 — 105.4 Total $ 306.6 $ 133.3 $ 127.0 $ 566.9 The following tables present net revenue by products and services: Three Months Ended December 31, 2020 Advanced Process Solutions Molding Technology Solutions Batesville Total Products and Services Equipment $ 197.9 $ 155.1 $ — $ 353.0 Parts and services 92.9 65.5 — 158.4 Death care — — 164.8 164.8 Other — 16.3 — 16.3 Total $ 290.8 $ 236.9 $ 164.8 $ 692.5 Three Months Ended December 31, 2019 Advanced Process Solutions Molding Technology Solutions Batesville Total Products and Services Equipment $ 206.0 $ 82.2 $ — $ 288.2 Parts and services 100.6 32.2 — 132.8 Death care — — 127.0 127.0 Other — 18.9 — 18.9 Total $ 306.6 $ 133.3 $ 127.0 $ 566.9 The following tables present net revenue by timing of transfer: Three Months Ended December 31, 2020 Advanced Process Solutions Molding Technology Solutions Batesville Total Timing of Transfer Point in time $ 146.2 $ 236.9 $ 164.8 $ 547.9 Over time 144.6 — — 144.6 Total $ 290.8 $ 236.9 $ 164.8 $ 692.5 Three Months Ended December 31, 2019 Advanced Process Solutions Molding Technology Solutions Batesville Total Timing of Transfer Point in time $ 147.3 $ 133.3 $ 127.0 $ 407.6 Over time 159.3 — — 159.3 Total $ 306.6 $ 133.3 $ 127.0 $ 566.9

Business Acquisitions

Business Acquisitions	3 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Business Acquisitions	Acquisitions and Divestitures Acquisition of Milacron Background On November 21, 2019, the Company completed the acquisition of Milacron, a global leader in highly engineered and customized systems in plastic technology and processing, through a merger of its wholly-owned subsidiary with and into Milacron, resulting in ownership of 100% of Milacron common stock that was issued and outstanding after the acquisition. The acquisition provides Hillenbrand with increased scale and meaningful product diversification, enhancing its ability to serve customers with expanded capabilities across the plastics value chain. The results of Milacron are reported separately in its own reportable segment (Molding Technology Solutions). Purchase price consideration As a result of the acquisition, Milacron stockholders received $11.80 in cash per share and a fixed exchange ratio of 0.1612 shares of Hillenbrand common stock for each share of Milacron common stock they owned, with cash paid in lieu of fractional shares. In addition, concurrent with the closing of the acquisition, the Company made a cash payment of $772.9 to repay outstanding Milacron debt, including accrued interest. The Company funded the acquisition through a combination of cash on hand, new debt financing, and the issuance of common stock. Pursuant to the Merger Agreement, certain of Milacron’s outstanding stock options, restricted stock awards, restricted stock unit awards, and performance stock unit awards immediately vested and converted into the right to receive $11.80 per share in cash and 0.1612 shares of Hillenbrand common stock per share. Additionally, certain of Milacron’s stock appreciation rights were canceled and converted into the right to receive a lump sum cash payment. The fair value of share-based equity awards was apportioned between purchase price consideration and immediate expense. The portion of the fair value of partially vested awards associated with pre-acquisition service of Milacron employees represented a component of the total purchase price consideration, while the remaining portion of the fair value was immediately recognized as expense within operating expenses on the Consolidated Statement of Operations during the three months ended December 31, 2019. The following table summarizes the aggregate purchase price consideration to acquire Milacron: Cash consideration paid to Milacron stockholders $ 835.9 Repayment of Milacron debt, including accrued interest 772.9 Cash consideration paid to settle outstanding share-based equity awards 34.2 Total cash consideration 1,643.0 Fair value of Hillenbrand common stock issued to Milacron stockholders (1) 356.9 Stock consideration issued to settle outstanding share-based equity awards (1) 14.4 Total consideration transferred 2,014.3 Portion of cash settlement of outstanding share-based equity awards recognized as expense (2) (14.1) Portion of stock settlement of outstanding share-based equity awards recognized as expense (2) (5.9) Total purchase price consideration $ 1,994.3 (1) The fair value of the 11.4 million shares of Hillenbrand’s common stock issued as of the acquisition date was determined based on a per share price of $31.26, which was the closing price of Hillenbrand’s common stock on November 20, 2019, the last trading day before the acquisition closed on November 21, 2019. This includes a nominal amount of cash paid in lieu of fractional shares. Additionally, 0.5 million shares of Hillenbrand’s common stock were issued to settle certain of Milacron’s outstanding share-based equity awards, as previously discussed. (2) In total, $20.0 was immediately recognized as expense within operating expenses on the Consolidated Statements of Operations during the three months ended December 31, 2019, which represents the portion of the fair value of outstanding share-based equity awards that was not associated with pre-acquisition service of Milacron employees, as previously discussed. Purchase price allocation The acquisition was accounted for as a business combination in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations . The purchase price was allocated to the assets acquired and liabilities assumed based on management’s estimate of the respective fair values at the date of acquisition. Goodwill was calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. The factors contributing to the recognition of goodwill were based on strategic benefits that are expected to be realized from the acquisition. None of the goodwill is deductible for income tax purposes. The following table summarizes the final (as of November 21, 2020) fair values of the assets acquired and liabilities assumed as of the acquisition date: November 21, 2019 Measurement Period Adjustments November 21, 2019 Assets acquired: Cash and cash equivalents $ 125.8 $ — $ 125.8 Trade receivables 135.5 (2.4) 133.1 Inventories 288.7 (1.0) 287.7 Prepaid expense and other current assets 64.3 4.9 69.2 Property, plant, and equipment 262.9 (29.0) 233.9 Operating lease right-of-use assets 41.3 — 41.3 Identifiable intangible assets 865.0 (50.0) 815.0 Goodwill 666.5 67.7 734.2 Other long-term assets 22.6 (1.6) 21.0 Total assets acquired 2,472.6 (11.4) 2,461.2 Liabilities assumed: Trade accounts payable 110.2 — 110.2 Liabilities from long-term manufacturing contracts and advances 32.7 — 32.7 Accrued compensation 23.2 (2.4) 20.8 Other current liabilities 72.2 17.2 89.4 Accrued pension and postretirement healthcare 29.4 — 29.4 Deferred income taxes 166.3 (27.3) 139.0 Operating lease liabilities - long-term 31.2 — 31.2 Other long-term liabilities 13.1 1.1 14.2 Total liabilities assumed 478.3 (11.4) 466.9 Total purchase price consideration $ 1,994.3 $ — $ 1,994.3 Measurement period adjustments The preliminary purchase price allocation was based upon a preliminary valuation, and the Company’s estimates and assumptions are subject to change within the measurement period (defined as one year following the acquisition date). As a result of further refining its estimates and assumptions since the date of the acquisition, the Company recorded measurement period adjustments to the initial opening balance sheet as shown in the table above. Adjustments were primarily made to property, plant, and equipment, identifiable intangible assets, goodwill, other current liabilities, and deferred income taxes. There were no measurement period adjustments materially impacting earnings that would have been recorded in previous reporting periods if the adjustments had been recognized as of the acquisition date. During the three months ended December 31, 2020, the purchase price allocation for the acquisition was finalized. Intangible assets identified The purchase price allocation included $815.0 of acquired identifiable intangible assets. The fair value of the identifiable intangible assets were estimated using the income approach through a discounted cash flow analysis with the cash flow projections. The cash flows were based on estimates used to price the Milacron acquisition, and the discount rates applied were benchmarked with reference to the implied rate of return to the Company’s pricing model and the weighted average cost of capital. Definite-lived intangible assets are being amortized over the estimated useful life on a straight-line basis. The determination of the useful lives was based upon various industry studies, historical acquisition experience, economic factors, and future cash flows of the Company post acquisition of Milacron. In addition, Hillenbrand reviewed certain technological trends and considered the relative stability in the current Milacron customer base. The amounts allocated to intangible assets are as follows: Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 560.0 19 years Trade names 150.0 Indefinite Technology, including patents 95.0 10 years Backlog 10.0 3 months Total $ 815.0 The Company is required to provide additional disclosures about fair value measurements as part of the Consolidated Financial Statements for each major category of assets and liabilities measured at fair value on a nonrecurring basis (including business acquisitions). The working capital assets and liabilities, as well as the property, plant, and equipment acquired, were valued using Level 2 inputs which included data points that are observable, such as definitive sales agreements, appraisals or established market values of comparable assets (market approach). Goodwill and identifiable intangible assets were valued using Level 3 inputs, which are unobservable by nature, and included internal estimates of future cash flows (income approach). Significant increases (decreases) in any of those unobservable inputs, as of the date of the acquisition, in isolation would result in a significantly lower (higher) fair value measurement. Management used a third-party valuation firm to assist in the determination of the purchase accounting fair values, and specifically those considered Level 3 measurements. Management ultimately oversees the third-party valuation firm to ensure that the transaction-specific assumptions are appropriate for the Company. Impact on results of operations The results of Milacron’s operations have been included in Hillenbrand’s Consolidated Financial Statements since the November 21, 2019, acquisition date. The following table provides the results of operations for Milacron included in Hillenbrand’s Consolidated Statements of Operations: Three Months Ended December 31, 2020 2019 Net revenue $ 236.9 $ 133.3 Income before income taxes 29.7 0.7 In connection with the acquisition of Milacron, the Company incurred a total of $5.7 and $53.8 of business acquisition and integration costs for the three months ended December 31, 2020 and 2019, respectively, which were primarily recorded within operating expenses in the Consolidated Statements of Operations. Supplemental Pro Forma Information The supplemental pro forma financial information presented below is for illustrative purposes only and is not necessarily indicative of the financial position or results of operations that would have been realized if the Milacron acquisition had been completed on the date indicated, does not reflect synergies that might have been achieved, nor is it indicative of future operating results or financial position. The pro forma adjustments are based upon currently available information and certain assumptions that Hillenbrand believes are reasonable under the circumstances. The supplemental pro forma financial information reflects pro forma adjustments to present the combined pro forma results of operations as if the Milacron acquisition had occurred on October 1, 2019, to give effect to certain events that Hillenbrand believes to be directly attributable to the Milacron acquisition. These pro forma adjustments primarily include: • an increase to depreciation and amortization expense that would have been recognized due to acquired tangible and intangible assets; • an adjustment to interest expense to reflect the additional borrowings of Hillenbrand and the repayment of Milacron’s historical debt in conjunction with the acquisition; • an adjustment to remove business acquisition and integration costs, inventory step-up costs, and backlog amortization, as these costs are non-recurring in nature and will not have a continuing effect on Hillenbrand’s results; and • the related income tax effects of the adjustments noted above. The supplemental pro forma financial information for the periods presented is as follows: Three Months Ended December 31, 2020 2019 Net revenue $ 692.5 $ 682.6 Net income attributable to Hillenbrand 76.4 22.1 Net income attributable to Hillenbrand — per share of common stock: Basic earnings per share $ 1.01 $ 0.29 Diluted earnings per share 1.01 0.29 Assets and liabilities held for sale During the fourth quarter of 2020, the Company announced that it had initiated a plan to divest the TerraSource Global and flow control businesses, which includes the Red Valve business (“Red Valve”) and Abel Pump business (“ABEL”), which operate within the Advanced Process Solutions reportable segment, as these businesses were no longer considered a strategic fit with the Company’s long-term growth plan and operational objectives. As discussed below, the Company completed the sale of Red Valve on December 31, 2020, and expects to the complete the divestiture of ABEL during its second fiscal quarter. The divestiture of the TerraSource Global business is expected to occur within the current fiscal year. As of September 30, 2020, the Company determined that these businesses met the criteria to be classified as held for sale, and therefore reclassified the related assets and liabilities as held for sale on the Consolidated Balance Sheets. As of December 31, 2020, the TerraSource Global and ABEL businesses continue to be classified as held for sale. The following is a summary of the major categories of assets and liabilities that have been classified as held for sale on the Consolidated Balance Sheets: December 31, September 30, Trade receivables, net $ 13.5 $ 19.8 Inventories 18.6 22.0 Property, plant and equipment, net 8.7 12.9 Operating lease right-of-use assets 3.1 4.3 Intangible assets, net 92.5 133.6 Goodwill 20.4 19.5 Other assets 10.0 9.4 Valuation allowance on disposal group (1) (23.5) (45.4) Total assets held for sale (2) $ 143.3 $ 176.1 Trade accounts payable $ 4.5 $ 7.3 Liabilities from long-term manufacturing contracts and advances 5.5 4.9 Operating lease liabilities 2.2 4.5 Deferred income taxes 5.5 8.8 Other liabilities 5.9 7.0 Total liabilities held for sale $ 23.6 $ 32.5 (1) The Company adjusted the carrying value to fair value less costs to sell for certain assets held for sale during the year ended September 30, 2020. There was no adjustment recognized for the three months ended December 30, 2020. (2) Total assets held for sale in this table exclude certain parcels of real estate that are also classified as held for sale on the Company’s Consolidated Balance Sheets as of December 31, 2020 and September 30, 2020. The Company determined that the impending exit from these businesses does not represent a strategic shift that had or will have a major effect on its Consolidated Results of Operations, and therefore neither were classified as discontinued operations. The results of operations for these businesses are included within the Advanced Process Solutions reportable segment for all periods presented in this quarterly report. Divestiture of Red Valve On December 31, 2020, the Company completed the divestiture of Red Valve to DeZURIK, Inc. in a transaction valued at $63.0, subject to customary post-closing adjustments. The sale included cash proceeds received at closing of $59.4, including working capital adjustments, and a $5.0 note receivable, included within other long-term assets on the Consolidated Balance Sheet. The sale follows the Company’s previously announced intent to exit the Red Valve business, and Red Valve was classified as held for sale at September 30, 2020. As a result of the sale, the Company recorded a pre-tax gain of $31.6 in the Consolidated Statement of Operations during the three months ended December 31, 2020. The related tax effect resulted in tax expense of $3.8 and was included within income tax expense in the Consolidated Statement of Operations during the three months ended December 31, 2020. The Company incurred $2.9 of transaction costs associated with the sale during the three months ended December 31, 2020, which were recorded within operating expenses in the Consolidated Statements of Operations. The Company determined that the divestiture of Red Valve did not represent a strategic shift that had or will have a major effect on its consolidated results of operations, and therefore Red Valve was not classified as a discontinued operation. Red Valve’s results of operations were included within the Advanced Process Solutions reportable segment until the completion of the sale on December 31, 2020. Agreement to sell ABEL Pumps In January 2021, the Company announced that it had entered into a definitive agreement with IDEX Corporation to sell ABEL for $103.5, subject to customary post-closing adjustments. The transaction is expected to be completed in the Company’s second fiscal quarter, subject to customary closing conditions. The sale follows the Company’s previously announced intent to exit the ABEL business. The assets and liabilities of ABEL continue to be classified as held for sale as of December 31, 2020, and based on the terms of the agreement, the Company did not recognize a change in carrying value during the three months ended December 31, 2020. Divestiture of Cimcool On March 30, 2020, the Company completed the divestiture of its Cimcool business (“Cimcool”), which represented the former Fluids Technologies reportable segment of Milacron before its acquisition by the Company, to DuBois Chemicals, Inc. The sale resulted in cash proceeds received of $221.9, net of cash divested. The Company determined that the divestiture of Cimcool did not represent a strategic shift that had or will have a major effect on its consolidated results of operations, and therefore Cimcool was not classified as a discontinued operation. Cimcool’s results of operations were included within the Molding Technology Solutions reportable segment until the completion of the sale on March 30, 2020. Sale of Molding Technology Solutions facility In December 2019, the Company completed the sale of a Molding Technology Solutions manufacturing facility located in Germany. As a result of the sale, the Company received net cash proceeds of $13.1. There was no material impact to the Consolidated Statement of Operations resulting from the sale of the facility.

Leases

Leases	3 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Leases The Company’s lease portfolio is comprised of operating leases primarily for manufacturing facilities, offices, vehicles, and certain equipment. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on whether the contract conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Leases are classified as operating or finance leases at the commencement date of the lease. Operating leases are recorded within operating lease right-of-use assets, other current liabilities, and operating lease liabilities in the Consolidated Balance Sheets. The Company’s finance leases were insignificant as of December 31, 2020. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets. We have elected an accounting policy to combine lease and non-lease components for all leases. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the implicit rate is generally not readily determinable for most leases, the Company uses an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The incremental borrowing rate reflects the estimated rate of interest that the Company would pay to borrow on a collateralized basis over a similar term in a similar economic environment. Lease expense for operating leases is recognized on a straight-line basis over the lease term. Leases may include renewal options, and the renewal option is included in the lease term if the Company concludes that it is reasonably certain that the option will be exercised. A certain number of the Company’s leases contain rent escalation clauses, either fixed or adjusted periodically for inflation of market rates, that are factored into the calculation of lease payments to the extent they are fixed and determinable at lease inception. The Company also has variable lease payments that do not depend on a rate or index, primarily for items such as common area maintenance and real estate taxes, which are recorded as variable costs when incurred. For the three months ended December 31, 2020 and 2019, the Company recognized $8.9 and $8.0, respectively, of operating lease expense, including short-term lease expense and variable lease costs, which were immaterial in each period. The following table presents supplemental Consolidated Balance Sheet information related to the Company’s operating leases. December 31, 2020 September 30, 2020 Operating lease right-of-use assets $ 153.0 $ 154.4 Other current liabilities $ 31.1 $ 31.2 Operating lease liabilities 119.9 120.9 Total operating lease liabilities $ 151.0 $ 152.1 Weighted-average remaining lease term (in years) 7.6 7.6 Weighted-average discount rate 2.5 % 2.5 % As of December 31, 2020, the maturities of the Company’s operating lease liabilities were as follows: 2021 (excluding the three months ended December 31, 2020) $ 26.7 2022 31.0 2023 25.4 2024 17.6 2025 11.5 Thereafter 53.6 Total lease payments 165.8 Less: imputed interest (14.8) Total present value of lease payments $ 151.0 Supplemental Consolidated Statement of Cash Flow information is as follows: Three Months Ended December 31, 2020 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 9.7 $ 8.0 Operating lease right-of-use assets obtained in exchange for new operating lease liabilities 4.3 13.3

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	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 The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of December 31, 2020 and September 30, 2020: December 31, 2020 September 30, 2020 Cost Accumulated Cost Accumulated Finite-lived assets: Trade names $ 0.2 $ (0.2) $ 0.2 $ (0.2) Customer relationships 809.2 (166.8) 787.6 (151.8) Technology, including patents 139.7 (55.3) 137.6 (51.0) Software 65.4 (55.9) 65.6 (54.1) Backlog — — 10.0 (10.0) Other — — 0.1 (0.1) 1,014.5 (278.2) 1,001.1 (267.2) Indefinite-lived assets: Trade names 229.6 — 226.8 — Total $ 1,244.1 $ (278.2) $ 1,227.9 $ (267.2) The net change in intangible assets during the three months ended December 31, 2020 was driven primarily by normal amortization and foreign currency adjustments. Goodwill Goodwill is not amortized, but is subject to annual impairment tests. Goodwill has been assigned to reporting units within the reportable segments. The Company assesses 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. There were no goodwill impairment charges during the three months ended December 31, 2020 and 2019. The following table summarizes the changes in the Company’s goodwill, by reportable segment, for the three months ended December 31, 2020. Advanced Process Solutions Molding Technology Solutions Batesville Total Balance as of September 30, 2020 $ 485.1 $ 644.4 $ 8.3 $ 1,137.8 Finalization of Milacron acquisition (see Note 4) — 19.6 — 19.6 Foreign currency adjustments 15.3 13.2 — 28.5 Balance as of December 31, 2020 $ 500.4 $ 677.2 $ 8.3 $ 1,185.9

Financing Agreements

Financing Agreements	3 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Financing Agreements	Financing Agreements The following table summarizes Hillenbrand’s current and long-term debt as of the dates reported in the Consolidated Balance Sheets. December 31, September 30, $500.0 term loan facility (1) $ 467.5 $ 473.7 $400.0 senior unsecured notes, net of discount (2) 395.0 394.8 $375.0 senior unsecured notes, net of discount (3) 370.9 370.8 $225.0 term loan facility (4) — 213.4 $100.0 Series A Notes (5) 99.8 99.7 $900.0 revolving credit facility (excluding outstanding letters of credit) 63.0 — Other 0.2 0.2 Total debt 1,396.4 1,552.6 Less: current portion (28.1) (36.3) Total long-term debt $ 1,368.3 $ 1,516.3 (1) Includes debt issuance costs of $1.2 and $1.3 at December 31, 2020 and September 30, 2020, respectively. (2) Includes debt issuance costs of $5.0 and $5.2 at December 31, 2020 and September 30, 2020, respectively. (3) Includes debt issuance costs of $3.6 and $3.7 at December 31, 2020 and September 30, 2020, respectively. (4) Includes debt issuance costs of $0.3 at September 30, 2020. This term loan was repaid in December 2020. (5) Includes debt issuance costs of $0.2 and $0.3 at December 31, 2020 and September 30, 2020, respectively. Financing for Milacron Acquisition Upon completing the acquisition of Milacron on November 21, 2019, Hillenbrand incurred borrowings under its two term loans in aggregate principal amounts of $500.0 and $225.0, which are provided for under the Company’s Third Amended and Restated Credit Agreement dated August 28, 2019 and subsequently amended on October 8, 2019, January 10, 2020, and May 29, 2020 (the “Credit Agreement”). During the three months ended December 31, 2020, the Company repaid the $225.0 term loan in full with a combination of cash on hand and borrowings from its revolving credit facility. The $500.0 term loan (the “Term Loan Facility”) matures on the fifth anniversary of the date on which it was borrowed, subject to quarterly amortization payments (equal to 5% of the original principal amount of the term loan in each of years 1 and 2, 7.5% in each of years 3 and 4, and 10% in year 5). The Term Loan Facility accrues interest, at the Company’s option, at the LIBO Rate or the Alternate Base Rate (each as defined in the Credit Agreement) plus a margin based on the Company’s leverage ratio, ranging from 1.00% to 2.375% for term loans bearing interest at the LIBO Rate and 0.0% to 1.375% for term loans bearing interest at the Alternate Base Rate. For the three months ended December 31, 2020 and 2019, the weighted average interest rates for the Term Loan Facility were 2.75% and 3.49%, respectively. In addition to the Term Loan Facility, Hillenbrand incurred $650.0 of additional borrowings from its revolving credit facility under the Credit Agreement (the “Revolver”) at the closing of the Milacron acquisition. The additional borrowings under the Term Loan Facility, the $225.0 term loan that has since been repaid, and the Revolver, in addition to the $375.0 of senior unsecured notes issued during the quarter ended September 30, 2019, were used to pay a portion of the cash consideration in connection with the acquisition of Milacron, fees and expenses related to the acquisition, and to repay certain indebtedness of Milacron and its subsidiaries upon closing the acquisition. With respect to the Revolver, the Company had $7.4 in outstanding letters of credit issued and $829.6 of maximum borrowing capacity under the Revolver as of December 31, 2020. $829.6 of this borrowing capacity was immediately available based on the Company’s most restrictive covenant at December 31, 2020. The weighted-average interest rates on borrowings under the Revolver were 2.52% and 3.13% for the three months ended December 31, 2020 and 2019, respectively. The weighted average facility fee was 0.30% and 0.17% three months ended December 31, 2020 and 2019, respectively. Other credit arrangements In the normal course of business, operating companies within the Advanced Process Solutions reportable segment provide 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, the Company maintains adequate capacity to provide the guarantees. As of December 31, 2020, the Company had credit arrangements totaling $437.8, under which $264.9 was used for this purpose. These arrangements include the Company’s Syndicated Letter of Guarantee Facility (as amended, the “L/G Facility Agreement”) and other ancillary credit facilities. Covenants related to current financing agreements The Credit Agreement, the L/G Facility Agreement, and the Series A Notes pursuant to the Private Shelf Agreement, dated as of December 6, 2012 (as amended, the “Shelf Agreement”), contain the following financial covenants for the current quarter: a maximum leverage ratio (as defined in the agreements) of 4.75 to 1.00 and a minimum ratio of EBITDA (as defined in the agreements) to interest expense of 3.0 to 1.00. As of December 31, 2020, Hillenbrand was in compliance with all covenants under these agreements. Additionally, the Credit Agreement, the L/G Facility Agreement, and the Shelf Agreement provide the Company with the ability to sell assets and to incur debt at its international subsidiaries under certain conditions. All obligations of the Company arising under the Credit Agreement, the $400.0 and $375.0 senior unsecured notes, the Series A Notes, and the L/G Facility Agreement are fully and unconditionally, and jointly and severally, guaranteed by certain of the Company’s domestic subsidiaries. The Credit Agreement, the L/G Facility Agreement, and the Shelf Agreement each contain certain other customary covenants, representations and warranties and events of default. The indentures governing both the $400.0 and $375.0 senior unsecured notes do not limit the Company’s ability to incur additional indebtedness. They do, however, contain certain covenants that restrict the Company’s ability to incur secured debt and to engage in certain sale and leaseback transactions. The indentures also contain customary events of default. The indentures provide holders of the senior unsecured notes with remedies if the Company fails to perform specific obligations. As of December 31, 2020, Hillenbrand was in compliance with all covenants and there were no events of default.

Retirement Benefits

Retirement Benefits	3 Months Ended
	Dec. 31, 2020
Defined Benefit Plan [Abstract]
Retirement Benefits	Retirement Benefits Defined Benefit Plans Components of net periodic pension (benefit) cost included in the Consolidated Statements of Operations were as follows: U.S. Pension Benefits Non-U.S. Pension Benefits Three Months Ended December 31, Three Months Ended December 31, 2020 2019 2020 2019 Service costs $ 0.2 $ 0.4 $ 0.5 $ 0.6 Interest costs 1.5 2.0 0.2 0.2 Expected return on plan assets (2.7) (3.2) (0.2) (0.1) Amortization of net loss 0.5 1.2 0.7 0.4 Net periodic (benefit) pension cost $ (0.5) $ 0.4 $ 1.2 $ 1.1 Defined Contribution Plans

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rates for the three months ended December 31, 2020 and 2019 were 28.7% and 93.9%, respectively. The difference in the effective tax rate in the current quarter relative to the federal statutory tax rate was primarily attributable to an unfavorable geographic mix of pretax income, the impact that tax loss carryforwards and the tax loss on the sale of Red Valve had on foreign tax credit determinations related to foreign income inclusions, as well as deferred taxes recognized on accumulated earnings of foreign subsidiaries. The decrease in the effective tax rate from the prior year is primarily due to the prior year net loss position and the tax benefit recognized from the revaluation of current and deferred tax balances in connection with enacted statutory tax rate reductions in certain foreign jurisdictions, which significantly increased the tax rate in the prior year, partially offset by the impact of nondeductible expenses associated with the Milacron acquisition.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
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 consolidated balance sheet date. At both December 31, 2020 and 2019, potential dilutive effects, representing approximately 448,000 and 256,000 shares, respectively, were excluded from the computation of diluted earnings per share as the related performance criteria were not yet met, although the Company expects to meet various levels of criteria in the future. Three Months Ended 2020 2019 Net income (loss) attributable to Hillenbrand $ 76.4 $ (3.1) Weighted average shares outstanding (basic - in millions) 75.3 68.4 Effect of dilutive stock options and other unvested equity awards (in millions) (1) 0.2 — Weighted average shares outstanding (diluted - in millions) 75.5 68.4 Basic earnings (loss) per share $ 1.01 $ (0.05) Diluted earnings (loss) per share $ 1.01 $ (0.05) Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions) 1.4 2.4 (1) As a result of the net loss attributable to Hillenbrand during the three months ended December 31, 2019, the effect of stock options and other unvested equity awards would be antidilutive. In accordance with GAAP, they have been excluded from the diluted earnings per share calculation.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	3 Months Ended
	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of reclassifications of AOCI	Accumulated Other Comprehensive Loss The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive loss: Pension and Currency Net Total Noncontrolling Total Balance at September 30, 2020 $ (69.6) $ (21.1) $ (12.1) $ (102.8) Other comprehensive income (loss) before reclassifications Before tax amount — 59.2 1.7 60.9 $ 0.1 $ 61.0 Tax expense — — (0.4) (0.4) — (0.4) After tax amount — 59.2 1.3 60.5 0.1 60.6 Amounts reclassified from accumulated other comprehensive loss (1) 1.2 — 0.4 1.6 — 1.6 Net current period other comprehensive income (loss) 1.2 59.2 1.7 62.1 0.1 $ 62.2 Balance at December 31, 2020 $ (68.4) $ 38.1 $ (10.4) $ (40.7) (1) Amounts are net of tax. Pension and Currency Net Total Noncontrolling Total Balance at September 30, 2019 $ (62.3) $ (64.7) $ (13.6) $ (140.6) Other comprehensive income (loss) before reclassifications Before tax amount — 17.4 1.3 18.7 $ (0.1) $ 18.6 Tax expense — — (0.3) (0.3) — (0.3) After tax amount — 17.4 1.0 18.4 (0.1) 18.3 Amounts reclassified from accumulated other comprehensive loss (1) 1.1 — 0.4 1.5 — 1.5 Net current period other comprehensive income (loss) 1.1 17.4 1.4 19.9 $ (0.1) $ 19.8 Reclassification of certain income tax effects (2) (6.0) — — (6.0) Balance at December 31, 2019 $ (67.2) $ (47.3) $ (12.2) $ (126.7) (1) Amounts are net of tax. (2) Income tax effects of the Tax Act were reclassified from accumulated other comprehensive loss to retained earnings due to the adoption of ASU 2018-02. Reclassifications out of accumulated other comprehensive loss include: Three Months Ended December 31, 2020 Amortization of Pension and Postretirement (1) (Gain)/Loss on Net Loss Derivative Total Affected line in the Consolidated Statement of Operations: Net revenue $ — $ — $ — Cost of goods sold — — — Other income, net 1.3 0.5 1.8 Total before tax $ 1.3 $ 0.5 $ 1.8 Tax expense (0.2) Total reclassifications for the period, net of tax $ 1.6 (1) These accumulated other comprehensive loss components are included in the computation of net periodic pension (benefit) cost (see Note 9). Three Months Ended December 31, 2019 Amortization of Pension and Postretirement (1) (Gain)/Loss on Net Loss Derivative Total Affected line in the Consolidated Statement of Operations: Net revenue $ — $ 0.1 $ 0.1 Cost of goods sold — (0.2) (0.2) Other income, net 1.6 0.5 2.1 Total before tax $ 1.6 $ 0.4 $ 2.0 Tax expense (0.5) Total reclassifications for the period, net of tax $ 1.5

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Dec. 31, 2020
Compensation Related Costs [Abstract]
Share-Based Compensation	Share-Based Compensation Three Months Ended 2020 2019 Share-based compensation costs $ 4.2 $ 2.3 Less impact of income tax benefit (1.0) (0.5) Share-based compensation costs, net of tax $ 3.2 $ 1.8 The Company has share-based compensation with long-term performance-based metrics that are contingent upon the Company’s relative total shareholder return and the creation of shareholder value. Relative total shareholder return is determined by comparing the Company’s total shareholder return during a three-year period to the respective total shareholder returns of companies in a designated performance peer group or stock index, as applicable. 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 three months ended December 31, 2020, the Company made the following grants: Number of Time-based stock awards 277,891 Performance-based stock awards (maximum that can be earned) 362,282 The Company’s time-based stock awards and performance-based stock awards granted during fiscal 2021 had weighted-average grant date fair values of $38.03 and $44.39, respectively. Included in the performance-based stock awards granted during fiscal 2021 are 213,536 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, Net

Other Income, Net	3 Months Ended
	Dec. 31, 2020
Other Nonoperating Income (Expense) [Abstract]
Other Income, Net	Other (Expense) Income, Net Three Months Ended 2020 2019 Interest income $ 0.6 $ 1.3 Foreign currency exchange gain, net 0.4 0.1 Other, net (1.4) 0.5 Other (expense) income, net $ (0.4) $ 1.9

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Like most companies, Hillenbrand is involved from time to time in claims, lawsuits, and government proceedings relating to its 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 the Company believes 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 these matters. If a loss is not considered probable and/or cannot be reasonably estimated, the Company is 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 covered by insurance have in most instances deductibles and self-funded retentions up to $0.5 per occurrence or per claim, depending upon the type of coverage and policy period. For auto, workers compensation, and general liability claims in the U.S., outside insurance companies and third-party claims administrators generally assist in establishing individual claim reserves. An independent outside actuary provides estimates of ultimate projected losses, including incurred but not reported claims, which are used to establish reserves for losses. For all other types of claims, reserves are established based upon advice from internal and external counsel and historical settlement information for claims when such amounts are considered probable of payment. The liabilities recorded represent the best estimate of costs that the Company will incur in relation to such exposures, but it is possible that actual costs will differ from those estimates.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 2020
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 December 31, 2020 Fair Value at December 31, 2020 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 265.8 $ 265.8 $ — $ — Investments in rabbi trust 4.4 4.4 — — Derivative instruments 4.8 — 4.8 — Liabilities: Revolver 63.0 — 63.0 — $500.0 term loan 468.7 — 468.7 — $400.0 senior unsecured notes 400.0 433.9 — — $375.0 senior unsecured notes 374.5 421.0 — — $100.0 Series A Notes 100.0 — 104.6 — Derivative instruments 1.3 — 1.3 — Carrying Value at September 30, 2020 Fair Value at September 30, 2020 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 302.2 $ 302.2 $ — $ — Investments in rabbi trust 3.9 3.9 — — Derivative instruments 2.6 — 2.6 — Liabilities: $500.0 term loan 475.0 — 475.0 — $400.0 senior unsecured notes 400.0 429.0 — — $375.0 senior unsecured notes 374.5 409.0 — — $225.0 term loan 213.7 — 213.7 — $100.0 Series A Notes 100.0 — 105.3 — Derivative instruments 1.6 — 1.6 — Valuation Techniques • Cash and cash equivalents and investments in rabbi trust are classified within Level 1 of the fair value hierarchy. Financial instruments classified as Level 1 are based on quoted market prices in active markets. The types of financial instruments the Company classifies within Level 1 include most bank deposits, money market securities, and publicly traded mutual funds. The Company does not adjust the quoted market price for such financial instruments. • The Company estimates the fair value of foreign currency derivatives using industry accepted models. The significant Level 2 inputs used in the valuation of derivatives include spot rates, forward rates, and volatility. These inputs were obtained from pricing services, broker quotes, and other sources. • The fair value of the amounts outstanding under the Revolver, the $500.0 term loan, and the $225.0 term loan approximate carrying value, as the Company believes their variable interest rate terms correspond to current market terms. • The fair values of the Series A Notes were estimated based on internally-developed models, using current market interest rate data for similar issues, as there is no active market for the Series A Notes. • The fair values of the $400.0 and $375.0 senior unsecured notes were based on quoted prices in active markets. Derivative instruments The Company has hedging programs in place to manage its currency exposures. The objectives of the Company’s hedging programs are to mitigate exposures in gross margin and non-functional-currency-denominated assets and liabilities. Under these programs, the Company uses derivative financial instruments to manage the economic impact of fluctuations in currency exchange rates. These include foreign currency exchange forward contracts, which generally have terms up to 24 months. The aggregate notional value of derivatives was $224.7 and $232.8 at December 31, 2020 and September 30, 2020, respectively. The derivatives are recorded at fair value primarily in other current assets and other current liabilities on the Consolidated Balance Sheets.

Segment and Geographical Inform

Segment and Geographical Information	3 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment and Geographical Information	Segment and Geographical Information The Company currently conducts operations through three reportable operating segments: Advanced Process Solutions, Molding Technology Solutions, and Batesville. The Company’s operating segments maintain separate financial information for which results of operations are evaluated on a regular basis by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company records the direct costs of business operations to the reportable operating segments, including stock-based compensation, asset impairments, restructuring activities, and business acquisition costs. Corporate provides management and administrative services to each reportable segment. These services include treasury management, human resources, legal, business development, and other public company support functions such as internal audit, investor relations, financial reporting, and tax compliance. With limited exception for certain professional services and back-office and technology costs, the Company does not allocate these types of corporate expenses to the reportable segments. The following tables present financial information for the Company’s reportable segments and significant geographical locations: Three Months Ended 2020 2019 Net revenue Advanced Process Solutions $ 290.8 $ 306.6 Molding Technology Solutions 236.9 133.3 Batesville 164.8 127.0 Total $ 692.5 $ 566.9 Adjusted EBITDA (1) Advanced Process Solutions $ 48.5 $ 51.5 Molding Technology Solutions 48.4 26.3 Batesville 52.3 23.0 Corporate (11.2) (8.9) Net revenue (2) United States $ 328.7 $ 282.0 China 111.9 57.0 Germany 34.3 35.8 India 41.5 34.3 All other foreign business units 176.1 157.8 Total $ 692.5 $ 566.9 (1) Adjusted earnings before interest, income tax, depreciation, and amortization (“adjusted EBITDA”) is a non-GAAP measure used by management to measure segment performance and make operating decisions. See the Operating Performance Measures section of Management’s Discussion and Analysis for further information on adjusted EBITDA, which is reconciled to consolidated net income (loss) below. (2) The Company attributes net revenue to a geography based upon the location of the end customer. Previously, the Company attributed net revenue to a geography based upon the location of the business that consummates the external sale for purpose of this disclosure. As such, the net revenue figures for the three months ended December 31, 2019, have been revised to conform to the current year methodology. December 31, September 30, Total assets assigned Advanced Process Solutions $ 1,659.2 $ 1,666.5 Molding Technology Solutions 2,074.7 2,032.4 Batesville 233.0 225.3 Corporate 48.4 63.2 Total $ 4,015.3 $ 3,987.4 Tangible long-lived assets, net United States $ 173.6 $ 182.4 Germany 114.8 110.4 China 55.4 54.2 All other foreign business units 116.8 121.6 Total $ 460.6 $ 468.6 The following schedule reconciles reportable segment adjusted EBITDA to consolidated net income (loss). Three Months Ended 2020 2019 Adjusted EBITDA: Advanced Process Solutions $ 48.5 $ 51.5 Molding Technology Solutions 48.4 26.3 Batesville 52.3 23.0 Corporate (11.2) (8.9) Less: Interest income (0.6) (1.3) Interest expense 21.2 14.7 Income tax expense (benefit) 31.3 (12.4) Depreciation and amortization 29.3 25.9 Business acquisition, disposition, and integration costs 9.1 53.8 Restructuring and restructuring related charges 1.5 2.4 Inventory step-up — 9.6 Gain on divestiture (31.6) — Other 0.1 — Consolidated net income (loss) $ 77.7 $ (0.8)

Restructuring

Restructuring	3 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring The following schedule details the restructuring charges by reportable segment and the classification of those charges on the Consolidated Statements of Operations. Three Months Ended December 31, 2020 Three Months Ended December 31, 2019 Cost of goods sold Operating expenses Total Cost of goods sold Operating expenses Total Advanced Process Solutions $ 0.6 $ 0.9 $ 1.5 $ 0.7 $ 0.9 $ 1.6 Molding Technology Solutions 0.1 0.3 0.4 — 0.8 0.8 Batesville — 0.2 0.2 0.1 0.3 0.4 Corporate — 0.2 0.2 — 0.3 0.3 Total $ 0.7 $ 1.6 $ 2.3 $ 0.8 $ 2.3 $ 3.1 The restructuring charges during the three months ended December 31, 2020 and 2019, related primarily to severance costs. The severance costs within the Molding Technology Solutions and Corporate reportable segments were primarily related to the

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition (Tables)	3 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregation of revenue The following tables present net revenue by end market: Three Months Ended December 31, 2020 Advanced Process Solutions Molding Technology Solutions Batesville Total End Market Plastics $ 194.7 $ — $ — $ 194.7 Automotive — 36.5 — 36.5 Chemicals 19.1 — — 19.1 Consumer goods — 39.0 — 39.0 Food and pharmaceuticals 22.8 — — 22.8 Custom molders — 38.9 — 38.9 Construction — 20.4 — 20.4 Packaging — 31.7 — 31.7 Minerals and mining 11.9 — — 11.9 Electronics — 18.4 — 18.4 Medical — 21.2 — 21.2 Death care — — 164.8 164.8 Other industrial 42.3 30.8 — 73.1 Total $ 290.8 $ 236.9 $ 164.8 $ 692.5 Three Months Ended December 31, 2019 Advanced Process Solutions Molding Technology Solutions Batesville Total End Market Plastics $ 202.0 $ — $ — $ 202.0 Automotive — 25.0 — 25.0 Chemicals 24.4 — — 24.4 Consumer goods — 22.4 — 22.4 Food and pharmaceuticals 18.0 — — 18.0 Custom molders — 16.8 — 16.8 Construction — 16.8 — 16.8 Packaging — 13.8 — 13.8 Minerals and mining 13.3 — — 13.3 Electronics — 8.3 — 8.3 Medical — 5.3 — 5.3 Death care — — 127.0 127.0 Other industrial 48.9 24.9 — 73.8 Total $ 306.6 $ 133.3 $ 127.0 $ 566.9 The following tables present net revenue by geographical market: Three Months Ended December 31, 2020 Advanced Process Solutions Molding Technology Solutions Batesville Total Geographical Markets Americas $ 82.1 $ 124.7 $ 164.8 $ 371.6 Asia 127.9 73.3 — 201.2 Europe, the Middle East, and Africa 80.8 38.9 — 119.7 Total $ 290.8 $ 236.9 $ 164.8 $ 692.5 Three Months Ended December 31, 2019 Advanced Process Solutions Molding Technology Solutions Batesville Total Geographical Markets Americas $ 112.9 $ 80.4 $ 127.0 $ 320.3 Asia 108.3 32.9 — 141.2 Europe, the Middle East, and Africa 85.4 20.0 — 105.4 Total $ 306.6 $ 133.3 $ 127.0 $ 566.9 The following tables present net revenue by products and services: Three Months Ended December 31, 2020 Advanced Process Solutions Molding Technology Solutions Batesville Total Products and Services Equipment $ 197.9 $ 155.1 $ — $ 353.0 Parts and services 92.9 65.5 — 158.4 Death care — — 164.8 164.8 Other — 16.3 — 16.3 Total $ 290.8 $ 236.9 $ 164.8 $ 692.5 Three Months Ended December 31, 2019 Advanced Process Solutions Molding Technology Solutions Batesville Total Products and Services Equipment $ 206.0 $ 82.2 $ — $ 288.2 Parts and services 100.6 32.2 — 132.8 Death care — — 127.0 127.0 Other — 18.9 — 18.9 Total $ 306.6 $ 133.3 $ 127.0 $ 566.9 The following tables present net revenue by timing of transfer: Three Months Ended December 31, 2020 Advanced Process Solutions Molding Technology Solutions Batesville Total Timing of Transfer Point in time $ 146.2 $ 236.9 $ 164.8 $ 547.9 Over time 144.6 — — 144.6 Total $ 290.8 $ 236.9 $ 164.8 $ 692.5 Three Months Ended December 31, 2019 Advanced Process Solutions Molding Technology Solutions Batesville Total Timing of Transfer Point in time $ 147.3 $ 133.3 $ 127.0 $ 407.6 Over time 159.3 — — 159.3 Total $ 306.6 $ 133.3 $ 127.0 $ 566.9

Business Acquisitions (Tables)

Business Acquisitions (Tables)	3 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of Business Acquisition	The following table summarizes the aggregate purchase price consideration to acquire Milacron: Cash consideration paid to Milacron stockholders $ 835.9 Repayment of Milacron debt, including accrued interest 772.9 Cash consideration paid to settle outstanding share-based equity awards 34.2 Total cash consideration 1,643.0 Fair value of Hillenbrand common stock issued to Milacron stockholders (1) 356.9 Stock consideration issued to settle outstanding share-based equity awards (1) 14.4 Total consideration transferred 2,014.3 Portion of cash settlement of outstanding share-based equity awards recognized as expense (2) (14.1) Portion of stock settlement of outstanding share-based equity awards recognized as expense (2) (5.9) Total purchase price consideration $ 1,994.3 (1) The fair value of the 11.4 million shares of Hillenbrand’s common stock issued as of the acquisition date was determined based on a per share price of $31.26, which was the closing price of Hillenbrand’s common stock on November 20, 2019, the last trading day before the acquisition closed on November 21, 2019. This includes a nominal amount of cash paid in lieu of fractional shares. Additionally, 0.5 million shares of Hillenbrand’s common stock were issued to settle certain of Milacron’s outstanding share-based equity awards, as previously discussed. (2) In total, $20.0 was immediately recognized as expense within operating expenses on the Consolidated Statements of Operations during the three months ended December 31, 2019, which represents the portion of the fair value of outstanding share-based equity awards that was not associated with pre-acquisition service of Milacron employees, as previously discussed. Three Months Ended December 31, 2020 2019 Net revenue $ 236.9 $ 133.3 Income before income taxes 29.7 0.7
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the final (as of November 21, 2020) fair values of the assets acquired and liabilities assumed as of the acquisition date: November 21, 2019 Measurement Period Adjustments November 21, 2019 Assets acquired: Cash and cash equivalents $ 125.8 $ — $ 125.8 Trade receivables 135.5 (2.4) 133.1 Inventories 288.7 (1.0) 287.7 Prepaid expense and other current assets 64.3 4.9 69.2 Property, plant, and equipment 262.9 (29.0) 233.9 Operating lease right-of-use assets 41.3 — 41.3 Identifiable intangible assets 865.0 (50.0) 815.0 Goodwill 666.5 67.7 734.2 Other long-term assets 22.6 (1.6) 21.0 Total assets acquired 2,472.6 (11.4) 2,461.2 Liabilities assumed: Trade accounts payable 110.2 — 110.2 Liabilities from long-term manufacturing contracts and advances 32.7 — 32.7 Accrued compensation 23.2 (2.4) 20.8 Other current liabilities 72.2 17.2 89.4 Accrued pension and postretirement healthcare 29.4 — 29.4 Deferred income taxes 166.3 (27.3) 139.0 Operating lease liabilities - long-term 31.2 — 31.2 Other long-term liabilities 13.1 1.1 14.2 Total liabilities assumed 478.3 (11.4) 466.9 Total purchase price consideration $ 1,994.3 $ — $ 1,994.3 Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 560.0 19 years Trade names 150.0 Indefinite Technology, including patents 95.0 10 years Backlog 10.0 3 months Total $ 815.0
Schedule of Business Acquisition Pro Forma Information	The supplemental pro forma financial information for the periods presented is as follows: Three Months Ended December 31, 2020 2019 Net revenue $ 692.5 $ 682.6 Net income attributable to Hillenbrand 76.4 22.1 Net income attributable to Hillenbrand — per share of common stock: Basic earnings per share $ 1.01 $ 0.29 Diluted earnings per share 1.01 0.29
Disposal Groups, Including Discontinued Operations	The following is a summary of the major categories of assets and liabilities that have been classified as held for sale on the Consolidated Balance Sheets: December 31, September 30, Trade receivables, net $ 13.5 $ 19.8 Inventories 18.6 22.0 Property, plant and equipment, net 8.7 12.9 Operating lease right-of-use assets 3.1 4.3 Intangible assets, net 92.5 133.6 Goodwill 20.4 19.5 Other assets 10.0 9.4 Valuation allowance on disposal group (1) (23.5) (45.4) Total assets held for sale (2) $ 143.3 $ 176.1 Trade accounts payable $ 4.5 $ 7.3 Liabilities from long-term manufacturing contracts and advances 5.5 4.9 Operating lease liabilities 2.2 4.5 Deferred income taxes 5.5 8.8 Other liabilities 5.9 7.0 Total liabilities held for sale $ 23.6 $ 32.5 (1) The Company adjusted the carrying value to fair value less costs to sell for certain assets held for sale during the year ended September 30, 2020. There was no adjustment recognized for the three months ended December 30, 2020. (2) Total assets held for sale in this table exclude certain parcels of real estate that are also classified as held for sale on the Company’s Consolidated Balance Sheets as of December 31, 2020 and September 30, 2020.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information	The following table presents supplemental Consolidated Balance Sheet information related to the Company’s operating leases. December 31, 2020 September 30, 2020 Operating lease right-of-use assets $ 153.0 $ 154.4 Other current liabilities $ 31.1 $ 31.2 Operating lease liabilities 119.9 120.9 Total operating lease liabilities $ 151.0 $ 152.1 Weighted-average remaining lease term (in years) 7.6 7.6 Weighted-average discount rate 2.5 % 2.5 %
Schedule of Operating Lease Liability Maturities	As of December 31, 2020, the maturities of the Company’s operating lease liabilities were as follows: 2021 (excluding the three months ended December 31, 2020) $ 26.7 2022 31.0 2023 25.4 2024 17.6 2025 11.5 Thereafter 53.6 Total lease payments 165.8 Less: imputed interest (14.8) Total present value of lease payments $ 151.0
Schedule of Supplemental Statement of Cash Flow Information	Supplemental Consolidated Statement of Cash Flow information is as follows: Three Months Ended December 31, 2020 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 9.7 $ 8.0 Operating lease right-of-use assets obtained in exchange for new operating lease liabilities 4.3 13.3

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	December 31, 2020 September 30, 2020 Cost Accumulated Cost Accumulated Finite-lived assets: Trade names $ 0.2 $ (0.2) $ 0.2 $ (0.2) Customer relationships 809.2 (166.8) 787.6 (151.8) Technology, including patents 139.7 (55.3) 137.6 (51.0) Software 65.4 (55.9) 65.6 (54.1) Backlog — — 10.0 (10.0) Other — — 0.1 (0.1) 1,014.5 (278.2) 1,001.1 (267.2) Indefinite-lived assets: Trade names 229.6 — 226.8 — Total $ 1,244.1 $ (278.2) $ 1,227.9 $ (267.2)
Schedule of Goodwill	Advanced Process Solutions Molding Technology Solutions Batesville Total Balance as of September 30, 2020 $ 485.1 $ 644.4 $ 8.3 $ 1,137.8 Finalization of Milacron acquisition (see Note 4) — 19.6 — 19.6 Foreign currency adjustments 15.3 13.2 — 28.5 Balance as of December 31, 2020 $ 500.4 $ 677.2 $ 8.3 $ 1,185.9

Financing Agreements (Tables)

Financing Agreements (Tables)	3 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of borrowings under financing agreements	Financing Agreements The following table summarizes Hillenbrand’s current and long-term debt as of the dates reported in the Consolidated Balance Sheets. December 31, September 30, $500.0 term loan facility (1) $ 467.5 $ 473.7 $400.0 senior unsecured notes, net of discount (2) 395.0 394.8 $375.0 senior unsecured notes, net of discount (3) 370.9 370.8 $225.0 term loan facility (4) — 213.4 $100.0 Series A Notes (5) 99.8 99.7 $900.0 revolving credit facility (excluding outstanding letters of credit) 63.0 — Other 0.2 0.2 Total debt 1,396.4 1,552.6 Less: current portion (28.1) (36.3) Total long-term debt $ 1,368.3 $ 1,516.3

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	Dec. 31, 2020
Defined Benefit Plan [Abstract]
Components of net pension costs	Components of net periodic pension (benefit) cost included in the Consolidated Statements of Operations were as follows: U.S. Pension Benefits Non-U.S. Pension Benefits Three Months Ended December 31, Three Months Ended December 31, 2020 2019 2020 2019 Service costs $ 0.2 $ 0.4 $ 0.5 $ 0.6 Interest costs 1.5 2.0 0.2 0.2 Expected return on plan assets (2.7) (3.2) (0.2) (0.1) Amortization of net loss 0.5 1.2 0.7 0.4 Net periodic (benefit) pension cost $ (0.5) $ 0.4 $ 1.2 $ 1.1

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	Three Months Ended 2020 2019 Net income (loss) attributable to Hillenbrand $ 76.4 $ (3.1) Weighted average shares outstanding (basic - in millions) 75.3 68.4 Effect of dilutive stock options and other unvested equity awards (in millions) (1) 0.2 — Weighted average shares outstanding (diluted - in millions) 75.5 68.4 Basic earnings (loss) per share $ 1.01 $ (0.05) Diluted earnings (loss) per share $ 1.01 $ (0.05) Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions) 1.4 2.4 (1) As a result of the net loss attributable to Hillenbrand during the three months ended December 31, 2019, the effect of stock options and other unvested equity awards would be antidilutive. In accordance with GAAP, they have been excluded from the diluted earnings per share calculation.

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of changes in accumulated other comprehensive income (loss) by component	Pension and Currency Net Total Noncontrolling Total Balance at September 30, 2019 $ (62.3) $ (64.7) $ (13.6) $ (140.6) Other comprehensive income (loss) before reclassifications Before tax amount — 17.4 1.3 18.7 $ (0.1) $ 18.6 Tax expense — — (0.3) (0.3) — (0.3) After tax amount — 17.4 1.0 18.4 (0.1) 18.3 Amounts reclassified from accumulated other comprehensive loss (1) 1.1 — 0.4 1.5 — 1.5 Net current period other comprehensive income (loss) 1.1 17.4 1.4 19.9 $ (0.1) $ 19.8 Reclassification of certain income tax effects (2) (6.0) — — (6.0) Balance at December 31, 2019 $ (67.2) $ (47.3) $ (12.2) $ (126.7)
Schedule of reclassifications of AOCI	Accumulated Other Comprehensive Loss The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive loss: Pension and Currency Net Total Noncontrolling Total Balance at September 30, 2020 $ (69.6) $ (21.1) $ (12.1) $ (102.8) Other comprehensive income (loss) before reclassifications Before tax amount — 59.2 1.7 60.9 $ 0.1 $ 61.0 Tax expense — — (0.4) (0.4) — (0.4) After tax amount — 59.2 1.3 60.5 0.1 60.6 Amounts reclassified from accumulated other comprehensive loss (1) 1.2 — 0.4 1.6 — 1.6 Net current period other comprehensive income (loss) 1.2 59.2 1.7 62.1 0.1 $ 62.2 Balance at December 31, 2020 $ (68.4) $ 38.1 $ (10.4) $ (40.7) (1) Amounts are net of tax. Pension and Currency Net Total Noncontrolling Total Balance at September 30, 2019 $ (62.3) $ (64.7) $ (13.6) $ (140.6) Other comprehensive income (loss) before reclassifications Before tax amount — 17.4 1.3 18.7 $ (0.1) $ 18.6 Tax expense — — (0.3) (0.3) — (0.3) After tax amount — 17.4 1.0 18.4 (0.1) 18.3 Amounts reclassified from accumulated other comprehensive loss (1) 1.1 — 0.4 1.5 — 1.5 Net current period other comprehensive income (loss) 1.1 17.4 1.4 19.9 $ (0.1) $ 19.8 Reclassification of certain income tax effects (2) (6.0) — — (6.0) Balance at December 31, 2019 $ (67.2) $ (47.3) $ (12.2) $ (126.7) (1) Amounts are net of tax. (2) Income tax effects of the Tax Act were reclassified from accumulated other comprehensive loss to retained earnings due to the adoption of ASU 2018-02. Reclassifications out of accumulated other comprehensive loss include: Three Months Ended December 31, 2020 Amortization of Pension and Postretirement (1) (Gain)/Loss on Net Loss Derivative Total Affected line in the Consolidated Statement of Operations: Net revenue $ — $ — $ — Cost of goods sold — — — Other income, net 1.3 0.5 1.8 Total before tax $ 1.3 $ 0.5 $ 1.8 Tax expense (0.2) Total reclassifications for the period, net of tax $ 1.6 (1) These accumulated other comprehensive loss components are included in the computation of net periodic pension (benefit) cost (see Note 9). Three Months Ended December 31, 2019 Amortization of Pension and Postretirement (1) (Gain)/Loss on Net Loss Derivative Total Affected line in the Consolidated Statement of Operations: Net revenue $ — $ 0.1 $ 0.1 Cost of goods sold — (0.2) (0.2) Other income, net 1.6 0.5 2.1 Total before tax $ 1.6 $ 0.4 $ 2.0 Tax expense (0.5) Total reclassifications for the period, net of tax $ 1.5

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2020
Compensation Related Costs [Abstract]
Schedule of stock-based compensation costs	Three Months Ended 2020 2019 Share-based compensation costs $ 4.2 $ 2.3 Less impact of income tax benefit (1.0) (0.5) Share-based compensation costs, net of tax $ 3.2 $ 1.8
Schedule of stock-based awards granted in the period	During the three months ended December 31, 2020, the Company made the following grants: Number of Time-based stock awards 277,891 Performance-based stock awards (maximum that can be earned) 362,282

Other Income, Net (Tables)

Other Income, Net (Tables)	3 Months Ended
	Dec. 31, 2020
Other Nonoperating Income (Expense) [Abstract]
Other income and expense	Three Months Ended 2020 2019 Interest income $ 0.6 $ 1.3 Foreign currency exchange gain, net 0.4 0.1 Other, net (1.4) 0.5 Other (expense) income, net $ (0.4) $ 1.9

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2020
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 December 31, 2020 Fair Value at December 31, 2020 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 265.8 $ 265.8 $ — $ — Investments in rabbi trust 4.4 4.4 — — Derivative instruments 4.8 — 4.8 — Liabilities: Revolver 63.0 — 63.0 — $500.0 term loan 468.7 — 468.7 — $400.0 senior unsecured notes 400.0 433.9 — — $375.0 senior unsecured notes 374.5 421.0 — — $100.0 Series A Notes 100.0 — 104.6 — Derivative instruments 1.3 — 1.3 — Carrying Value at September 30, 2020 Fair Value at September 30, 2020 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 302.2 $ 302.2 $ — $ — Investments in rabbi trust 3.9 3.9 — — Derivative instruments 2.6 — 2.6 — Liabilities: $500.0 term loan 475.0 — 475.0 — $400.0 senior unsecured notes 400.0 429.0 — — $375.0 senior unsecured notes 374.5 409.0 — — $225.0 term loan 213.7 — 213.7 — $100.0 Series A Notes 100.0 — 105.3 — Derivative instruments 1.6 — 1.6 —

Segment and Geographical Info_2

Segment and Geographical Information (Tables)	3 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of net revenue, adjusted EBITDA, and depreciation and amortization by segment and geographic location	Three Months Ended 2020 2019 Net revenue Advanced Process Solutions $ 290.8 $ 306.6 Molding Technology Solutions 236.9 133.3 Batesville 164.8 127.0 Total $ 692.5 $ 566.9 Adjusted EBITDA (1) Advanced Process Solutions $ 48.5 $ 51.5 Molding Technology Solutions 48.4 26.3 Batesville 52.3 23.0 Corporate (11.2) (8.9) Net revenue (2) United States $ 328.7 $ 282.0 China 111.9 57.0 Germany 34.3 35.8 India 41.5 34.3 All other foreign business units 176.1 157.8 Total $ 692.5 $ 566.9 (1) Adjusted earnings before interest, income tax, depreciation, and amortization (“adjusted EBITDA”) is a non-GAAP measure used by management to measure segment performance and make operating decisions. See the Operating Performance Measures section of Management’s Discussion and Analysis for further information on adjusted EBITDA, which is reconciled to consolidated net income (loss) below. (2) The Company attributes net revenue to a geography based upon the location of the end customer. Previously, the Company attributed net revenue to a geography based upon the location of the business that consummates the external sale for
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	December 31, September 30, Total assets assigned Advanced Process Solutions $ 1,659.2 $ 1,666.5 Molding Technology Solutions 2,074.7 2,032.4 Batesville 233.0 225.3 Corporate 48.4 63.2 Total $ 4,015.3 $ 3,987.4 Tangible long-lived assets, net United States $ 173.6 $ 182.4 Germany 114.8 110.4 China 55.4 54.2 All other foreign business units 116.8 121.6 Total $ 460.6 $ 468.6
Schedule of reconciliation of segment adjusted EBITDA to consolidated net income	The following schedule reconciles reportable segment adjusted EBITDA to consolidated net income (loss). Three Months Ended 2020 2019 Adjusted EBITDA: Advanced Process Solutions $ 48.5 $ 51.5 Molding Technology Solutions 48.4 26.3 Batesville 52.3 23.0 Corporate (11.2) (8.9) Less: Interest income (0.6) (1.3) Interest expense 21.2 14.7 Income tax expense (benefit) 31.3 (12.4) Depreciation and amortization 29.3 25.9 Business acquisition, disposition, and integration costs 9.1 53.8 Restructuring and restructuring related charges 1.5 2.4 Inventory step-up — 9.6 Gain on divestiture (31.6) — Other 0.1 — Consolidated net income (loss) $ 77.7 $ (0.8)

Restructuring Schedule of restr

Restructuring Schedule of restructuring charges by line and segment (Tables)	3 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following schedule details the restructuring charges by reportable segment and the classification of those charges on the Consolidated Statements of Operations. Three Months Ended December 31, 2020 Three Months Ended December 31, 2019 Cost of goods sold Operating expenses Total Cost of goods sold Operating expenses Total Advanced Process Solutions $ 0.6 $ 0.9 $ 1.5 $ 0.7 $ 0.9 $ 1.6 Molding Technology Solutions 0.1 0.3 0.4 — 0.8 0.8 Batesville — 0.2 0.2 0.1 0.3 0.4 Corporate — 0.2 0.2 — 0.3 0.3 Total $ 0.7 $ 1.6 $ 2.3 $ 0.8 $ 2.3 $ 3.1

Background and Basis of Prese_2

Background and Basis of Presentation - Narrative (Details)	3 Months Ended
	Dec. 31, 2020segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3
Acquired entity subsidiary investments owned percent	100.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020	Oct. 01, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Receivables from long-term manufacturing contracts	$ 158.9	$ 138.1
Inventories, net	388.5	385.4
Deferred Income Tax Liabilities, Net	204.7	185.8
Retained earnings	541.4	481.4
Operating lease right-of-use assets	153	154.4
Total present value of lease payments	$ 151	$ 152.1
Retained Earnings [Member] | Accounting Standards Update 2018-02 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of new accounting principle			$ 6
AOCI Attributable to Parent [Member] | Accounting Standards Update 2018-02 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of new accounting principle			$ 6

Summary of Significant Accoun_4

Summary of Significant Accounting Policies Revenue Recognition - Impact on Income Statement (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net revenue	$ 692.5	$ 566.9
Cost of goods sold	448.3	395.1
Gross profit	244.2	171.8
Operating expenses	131.6	157.4
Income before income taxes	109	(13.2)
Income tax expense (benefit)	31.3	(12.4)
Consolidated net income (loss)	$ 77.7	$ (0.8)

Summary of Significant Accoun_5

Summary of Significant Accounting Policies Improving the Presentation of Net Periodic Pension Cost (Details) $ in Millions	3 Months Ended
	Dec. 31, 2019USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
2017 Periodic Pension Cost Restatement	$ 0

Revenue Recognition Narrative (

Revenue Recognition Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Receivables from long-term manufacturing contracts	$ 138.1		$ 158.9
Liabilities from long-term manufacturing contracts and advances	189.1		$ 214.1
Revenue recognized on long-term manufacturing contracts and advances liabilities	$ 80.1	$ 55.3

Revenue Recognition Revenue Rem

Revenue Recognition Revenue Remaining Performance Obligation Narrative (Details) $ in Millions	Dec. 31, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation expected to be recognized in the given period (as a percent)	78.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 1,362.6

Revenue Recognition Revenue by

Revenue Recognition Revenue by End Market (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Net revenue	$ 692.5	$ 566.9
Plastics
Disaggregation of Revenue [Line Items]
Net revenue	194.7	202
Automotive
Disaggregation of Revenue [Line Items]
Net revenue	36.5	25
Chemicals
Disaggregation of Revenue [Line Items]
Net revenue	19.1	24.4
Consumer goods
Disaggregation of Revenue [Line Items]
Net revenue	39	22.4
Food and pharmaceuticals
Disaggregation of Revenue [Line Items]
Net revenue	22.8	18
Construction
Disaggregation of Revenue [Line Items]
Net revenue	20.4	16.8
Packaging
Disaggregation of Revenue [Line Items]
Net revenue	31.7	13.8
Minerals and mining
Disaggregation of Revenue [Line Items]
Net revenue	11.9	13.3
Electronics
Disaggregation of Revenue [Line Items]
Net revenue	18.4	8.3
Medical
Disaggregation of Revenue [Line Items]
Net revenue	21.2
Death care
Disaggregation of Revenue [Line Items]
Net revenue	164.8	127
Other industrial
Disaggregation of Revenue [Line Items]
Net revenue	73.1	73.8
Customer Molders [Member]
Disaggregation of Revenue [Line Items]
Net revenue	38.9	16.8
Advanced Process Solutions
Disaggregation of Revenue [Line Items]
Net revenue	290.8	306.6
Advanced Process Solutions | Plastics
Disaggregation of Revenue [Line Items]
Net revenue	194.7	202
Advanced Process Solutions | Automotive
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Advanced Process Solutions | Chemicals
Disaggregation of Revenue [Line Items]
Net revenue	19.1	24.4
Advanced Process Solutions | Consumer goods
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Advanced Process Solutions | Food and pharmaceuticals
Disaggregation of Revenue [Line Items]
Net revenue	22.8	18
Advanced Process Solutions | Construction
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Advanced Process Solutions | Packaging
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Advanced Process Solutions | Minerals and mining
Disaggregation of Revenue [Line Items]
Net revenue	11.9	13.3
Advanced Process Solutions | Electronics
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Advanced Process Solutions | Medical
Disaggregation of Revenue [Line Items]
Net revenue	0
Advanced Process Solutions | Death care
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Advanced Process Solutions | Other industrial
Disaggregation of Revenue [Line Items]
Net revenue	42.3	48.9
Advanced Process Solutions | Customer Molders [Member]
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions
Disaggregation of Revenue [Line Items]
Net revenue	236.9	133.3
Molding Technology Solutions | Plastics
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions | Automotive
Disaggregation of Revenue [Line Items]
Net revenue	36.5	25
Molding Technology Solutions | Consumer goods
Disaggregation of Revenue [Line Items]
Net revenue	39	22.4
Molding Technology Solutions | Food and pharmaceuticals
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions | Minerals and mining
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions | Electronics
Disaggregation of Revenue [Line Items]
Net revenue	18.4	8.3
Molding Technology Solutions | Medical
Disaggregation of Revenue [Line Items]
Net revenue	21.2
Molding Technology Solutions | Death care
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions | Other industrial
Disaggregation of Revenue [Line Items]
Net revenue	30.8	24.9
Batesville
Disaggregation of Revenue [Line Items]
Net revenue	164.8	127
Batesville | Plastics
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Automotive
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Chemicals
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Consumer goods
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Food and pharmaceuticals
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Construction
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Packaging
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Minerals and mining
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Electronics
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Medical
Disaggregation of Revenue [Line Items]
Net revenue	0
Batesville | Death care
Disaggregation of Revenue [Line Items]
Net revenue	164.8	127
Batesville | Other industrial
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Customer Molders [Member]
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions [Member] | Chemicals
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions [Member] | Construction
Disaggregation of Revenue [Line Items]
Net revenue	20.4	16.8
Molding Technology Solutions [Member] | Packaging
Disaggregation of Revenue [Line Items]
Net revenue	31.7	13.8
Molding Technology Solutions [Member] | Customer Molders [Member]
Disaggregation of Revenue [Line Items]
Net revenue	$ 38.9	$ 16.8

Revenue Recognition Product and

Revenue Recognition Product and Services (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Net revenue	$ 692.5	$ 566.9
Americas
Disaggregation of Revenue [Line Items]
Net revenue	371.6	320.3
Asia
Disaggregation of Revenue [Line Items]
Net revenue	201.2	141.2
Europe, Middle East, And Africa
Disaggregation of Revenue [Line Items]
Net revenue	119.7	105.4
Equipment
Disaggregation of Revenue [Line Items]
Net revenue	353	288.2
Parts and services
Disaggregation of Revenue [Line Items]
Net revenue	158.4	132.8
Death care
Disaggregation of Revenue [Line Items]
Net revenue	164.8	127
Other
Disaggregation of Revenue [Line Items]
Net revenue	16.3	18.9
Advanced Process Solutions
Disaggregation of Revenue [Line Items]
Net revenue	290.8	306.6
Advanced Process Solutions | Americas
Disaggregation of Revenue [Line Items]
Net revenue	82.1	112.9
Advanced Process Solutions | Asia
Disaggregation of Revenue [Line Items]
Net revenue	127.9	108.3
Advanced Process Solutions | Europe, Middle East, And Africa
Disaggregation of Revenue [Line Items]
Net revenue	80.8	85.4
Advanced Process Solutions | Equipment
Disaggregation of Revenue [Line Items]
Net revenue	197.9	206
Advanced Process Solutions | Parts and services
Disaggregation of Revenue [Line Items]
Net revenue	92.9	100.6
Advanced Process Solutions | Death care
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Advanced Process Solutions | Other
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions
Disaggregation of Revenue [Line Items]
Net revenue	236.9	133.3
Molding Technology Solutions | Americas
Disaggregation of Revenue [Line Items]
Net revenue	124.7	80.4
Molding Technology Solutions | Asia
Disaggregation of Revenue [Line Items]
Net revenue	73.3	32.9
Molding Technology Solutions | Europe, Middle East, And Africa
Disaggregation of Revenue [Line Items]
Net revenue	38.9	20
Molding Technology Solutions | Equipment
Disaggregation of Revenue [Line Items]
Net revenue	155.1	82.2
Molding Technology Solutions | Parts and services
Disaggregation of Revenue [Line Items]
Net revenue	65.5	32.2
Molding Technology Solutions | Death care
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions | Other
Disaggregation of Revenue [Line Items]
Net revenue	16.3	18.9
Batesville
Disaggregation of Revenue [Line Items]
Net revenue	164.8	127
Batesville | Americas
Disaggregation of Revenue [Line Items]
Net revenue	164.8	127
Batesville | Asia
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Europe, Middle East, And Africa
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Equipment
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Parts and services
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville | Death care
Disaggregation of Revenue [Line Items]
Net revenue	164.8	127
Batesville | Other
Disaggregation of Revenue [Line Items]
Net revenue	$ 0	$ 0

Revenue Recognition Timing of T

Revenue Recognition Timing of Transfer (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Net revenue	$ 692.5	$ 566.9
Point in time
Disaggregation of Revenue [Line Items]
Net revenue	547.9	407.6
Over time
Disaggregation of Revenue [Line Items]
Net revenue	144.6	159.3
Advanced Process Solutions
Disaggregation of Revenue [Line Items]
Net revenue	290.8	306.6
Advanced Process Solutions | Point in time
Disaggregation of Revenue [Line Items]
Net revenue	146.2	147.3
Advanced Process Solutions | Over time
Disaggregation of Revenue [Line Items]
Net revenue	144.6	159.3
Molding Technology Solutions
Disaggregation of Revenue [Line Items]
Net revenue	236.9	133.3
Molding Technology Solutions | Point in time
Disaggregation of Revenue [Line Items]
Net revenue	236.9	133.3
Molding Technology Solutions | Over time
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Batesville
Disaggregation of Revenue [Line Items]
Net revenue	164.8	127
Batesville | Point in time
Disaggregation of Revenue [Line Items]
Net revenue	164.8	127
Batesville | Over time
Disaggregation of Revenue [Line Items]
Net revenue	$ 0	$ 0

Business Acquisitions - Narrati

Business Acquisitions - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	Nov. 21, 2019USD ($)$ / sharesshares	Jan. 29, 2021USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Business Acquisition [Line Items]
Proceeds from divestiture of businesses			$ 13.1
Red Valve [Member]
Business Acquisition [Line Items]
Value of divestiture				$ 63
Proceeds from divestiture of businesses				59.4
Note receivable				5
Tax Effect of Gain (Loss)				3.8
Transaction Costs				2.9
Molding Technology Solutions
Business Acquisition [Line Items]
Percentage of voting interests acquired	100.00%
Share price (in dollars per share) | $ / shares	$ 11.80
Exchange ratio of common stock issued (in shares)	0.1612
Payments to acquire business, gross	$ 1,643
Business acquisition, common stock shares issued (in shares) | shares	11.4
Repayment of Milacron debt, including accrued interest	$ 772.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 815			815
Acquisition cost expensed				$ 5.7	$ 53.8
ABEL [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Payments to acquire business, gross		$ 103.5

Business Acquisitions - Schedul

Business Acquisitions - Schedule of Aggregate Purchase Price Consideration (Details) - Molding Technology Solutions - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Nov. 21, 2019	Dec. 31, 2020
Business Acquisition [Line Items]
Cash consideration paid to Milacron stockholders	$ 835.9
Repayment of Milacron debt, including accrued interest	772.9
Cash consideration paid to settle outstanding share-based equity awards	34.2
Total cash consideration	1,643
Fair value of Hillenbrand common stock issued to Milacron stockholders	356.9
Stock consideration issued to settle outstanding share-based equity awards	14.4
Total consideration transferred	2,014.3
Portion of cash settlement of outstanding share-based equity awards recognized as expense	(14.1)
Portion of stock settlement of outstanding share-based equity awards recognized as expense	(5.9)
Total purchase price consideration	$ 1,994.3
Business acquisition, common stock shares issued (in shares)	11.4
Business acquisition, common stock shares issued (in in dollars per share)	$ 31.26
Shares issued to settle outstanding share-based equity awards (in shares)	0.5
Settlement of outstanding share-based equity awards recognized as expense		$ 20

Business Acquisitions - Sched_2

Business Acquisitions - Schedule of Assets and Liabilities Assumed (Details) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020	Jan. 31, 2020	Nov. 21, 2019
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill	$ 1,185.9	$ 1,137.8
Molding Technology Solutions
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	125.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables	133.1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	287.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	69.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	233.9
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease Right-Of-Use Assets	41.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	815			$ 815
Goodwill	734.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	21
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total	2,461.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	110.2
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Revenue From Contract From Customer Liability	32.7
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Accrued Compensation	20.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	89.4
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Accrued Pension And Postretirement Healthcare	29.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	139
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent	31.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	14.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total	466.9
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total	$ 1,994.3
Molding Technology Solutions | Previously Reported
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents				125.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables				135.5
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory				288.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets				64.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				262.9
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease Right-Of-Use Assets				41.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				865
Goodwill				666.5
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets				22.6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total				2,472.6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable				110.2
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Revenue From Contract From Customer Liability				32.7
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Accrued Compensation				23.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other				72.2
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Accrued Pension And Postretirement Healthcare				29.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities				166.3
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent				31.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other				13.1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total				478.3
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total				$ 1,994.3
Molding Technology Solutions | Restatement Adjustment [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents			$ 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables			(2.4)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory			(1)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets			4.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment			(29)
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease Right-Of-Use Assets			0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			(50)
Goodwill			67.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets			(1.6)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total			(11.4)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable			0
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Revenue From Contract From Customer Liability			0
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Accrued Compensation			(2.4)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other			17.2
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Accrued Pension And Postretirement Healthcare			0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities			(27.3)
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent			0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other			1.1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total			(11.4)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total			$ 0

Business Acquisitions - Sched_3

Business Acquisitions - Schedule of Intangible Assets Acquired (Details) - Molding Technology Solutions - USD ($) $ in Millions	Nov. 21, 2019	Dec. 31, 2020
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 815	$ 815
Customer relationships
Business Acquisition [Line Items]
Gross Carrying Amount	$ 560
Weighted-Average Useful Life	19 years
Trade names
Business Acquisition [Line Items]
Gross Carrying Amount	$ 150
Technology, including patents
Business Acquisition [Line Items]
Gross Carrying Amount	$ 95
Weighted-Average Useful Life	10 years
Backlog
Business Acquisition [Line Items]
Gross Carrying Amount	$ 10
Weighted-Average Useful Life	3 months

Business Acquisitions - Sched_4

Business Acquisitions - Schedule of Results of Operations After Acquisition (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Net revenue		$ 692.5	$ 566.9
Income before income taxes		$ 109	(13.2)
Molding Technology Solutions
Business Acquisition [Line Items]
Net revenue	$ 236.9		133.3
Income before income taxes	$ 29.7		$ 0.7

Business Acquisitions - Sched_5

Business Acquisitions - Schedule of Supplemental Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Combinations [Abstract]
Net revenue	$ 692.5	$ 682.6
Net income attributable to Hillenbrand	$ 76.4	$ 22.1
Net income attributable to Hillenbrand  — per share of common stock:
Basic earnings per share	$ 1.01	$ 0.29
Diluted earnings per share	$ 1.01	$ 0.29

Business Acquisitions and Dives

Business Acquisitions and Divestitures - Disposal Group Balance Sheet Disclosures (Details) - TerraSource Global - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Note receivable	$ 13.5	$ 19.8
Disposal Group, Including Discontinued Operation, Inventory	18.6	22
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment	8.7	12.9
Disposal Group, Including Discontinued Operation, Operating Lease Right-Of-Use Asset	3.1	4.3
Disposal Group, Including Discontinued Operation, Intangible Assets	92.5	133.6
Disposal Group, Including Discontinued Operation, Goodwill	20.4	19.5
Disposal Group, Including Discontinued Operation, Other Assets	10	9.4
Disposal Group, Including Discontinued Operation, Valuation Allowance	(23.5)	(45.4)
Disposal Group, Including Discontinued Operation, Assets	143.3	176.1
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Disposal Group, Including Discontinued Operation, Accounts Payable	4.5	7.3
Disposal Group, Including Discontinued Operation, Deferred Revenue	5.5	4.9
Disposal Group, Including Discontinued Operation, Operating Lease Liabilities	2.2	4.5
Disposal Group, Including Discontinued Operation, Accrued Income Tax Payable	5.5	8.8
Disposal Group, Including Discontinued Operation, Other Liabilities	5.9	7
Disposal Group, Including Discontinued Operation, Liabilities	$ 23.6	$ 32.5

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease expense	$ 8.9	$ 8

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 153	$ 154.4
Other current liabilities	31.1	31.2
Operating lease liabilities	119.9	120.9
Total operating lease liabilities	$ 151	$ 152.1
Weighted-average remaining lease term (in years)	7 years 7 months 6 days	7 years 7 months 6 days
Weighted-average discount rate	2.50%	2.50%

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Liability Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020
Leases [Abstract]
2021 (excluding the three months ended December 31, 2020)	$ 26.7
2021	31
2022	25.4
2023	17.6
2024	11.5
Thereafter	53.6
Total lease payments	165.8
Less: imputed interest	(14.8)
Total present value of lease payments	$ 151	$ 152.1

Leases - Schedule fo Supplement

Leases - Schedule fo Supplemental Statement of Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 9.7	$ 8
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$ 4.3	$ 13.3

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Nov. 21, 2019
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 1,014.5	$ 1,001.1
Finite-Lived Intangible Assets, Accumulated Amortization	(278.2)	(267.2)
Intangible Assets, Gross (Excluding Goodwill)	1,244.1	1,227.9
Trade names
Intangible Assets [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 229.6	226.8
Minimum
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	3 years
Maximum
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	21 years
Trade names
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 0.2	0.2
Finite-Lived Intangible Assets, Accumulated Amortization	(0.2)	(0.2)
Customer relationships
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	809.2	787.6
Finite-Lived Intangible Assets, Accumulated Amortization	(166.8)	(151.8)
Technology, including patents
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	139.7	137.6
Finite-Lived Intangible Assets, Accumulated Amortization	(55.3)	(51)
Computer Software, Intangible Asset [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	65.4	65.6
Finite-Lived Intangible Assets, Accumulated Amortization	(55.9)	(54.1)
Backlog
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	0		$ 10
Finite-Lived Intangible Assets, Accumulated Amortization	0		$ (10)
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	0	0.1
Finite-Lived Intangible Assets, Accumulated Amortization	0	$ (0.1)
Molding Technology Solutions
Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 815			$ 815

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Sep. 30, 2020
Goodwill [Line Items]
Goodwill	$ 1,185.9	$ 1,137.8
Goodwill, Purchase Accounting Adjustments	19.6
Goodwill, Foreign Currency Translation Gain (Loss)	28.5
Advanced Process Solutions
Goodwill [Line Items]
Goodwill	500.4	485.1
Goodwill, Purchase Accounting Adjustments	0
Goodwill, Foreign Currency Translation Gain (Loss)	15.3
Molding Technology Solutions
Goodwill [Line Items]
Goodwill	677.2	644.4
Goodwill, Purchase Accounting Adjustments	19.6
Goodwill, Foreign Currency Translation Gain (Loss)	13.2
Batesville Services Inc [Member]
Goodwill [Line Items]
Goodwill	8.3	$ 8.3
Goodwill, Purchase Accounting Adjustments	0
Goodwill, Foreign Currency Translation Gain (Loss)	$ 0

Financing Agreements - Schedule

Financing Agreements - Schedule of borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total debt	$ 1,396.4	$ 1,552.6
Other	0.2	0.2
Current portion of long-term debt	(28.1)	(36.3)
Long-term debt	1,368.3	1,516.3
$900.0 revolving credit facility (excluding outstanding letters of credit)
Debt Instrument [Line Items]
Total debt	63	0
HI_500TermLoan [Member]
Debt Instrument [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross	1.2		$ 1.3
Total debt	467.5	473.7
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross	5	5.2
Total debt	370.9	370.8
Senior Notes [Member] | 2020 Notes [Member]
Debt Instrument [Line Items]
Total debt	395	394.8
HI_225TermLoan [Member]
Debt Instrument [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross	3.6	3.7
Total debt	0	213.4
$150 senior unsecured notes [Member]
Debt Instrument [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross		0.3
$100.0 Series A Notes (5)
Debt Instrument [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross	0.2	0.3
Total debt	$ 99.8	$ 99.7

Financing Agreements - Narrativ

Financing Agreements - Narrative (Details)	3 Months Ended		12 Months Ended
	Dec. 31, 2020USD ($)Rate	Dec. 31, 2019USD ($)	Sep. 30, 2020USD ($)	Nov. 21, 2019USD ($)
Debt instrument [Line Items]
Long-term Debt	$ 1,396,400,000		$ 1,552,600,000
Maximum ratio of Indebtedness to EBITDA allowed			4.75
Debt Instrument, Covenant Terms, Minimum Ratio of Earnings before Interest, Taxes, Depreciation, and Amortization to Interest Expense			3
HI_500TermLoan [Member]
Debt instrument [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross	1,200,000	$ 1,300,000
Debt instrument, face amount	500,000,000
Long-term Debt	$ 467,500,000		$ 473,700,000
Weighted average interest rates	2.75%	3.49%
HI_225TermLoan [Member]
Debt instrument [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross	$ 3,600,000		3,700,000
Debt instrument, face amount	225,000,000
Long-term Debt	0		213,400,000
$900.0 revolving credit facility (excluding outstanding letters of credit)
Debt instrument [Line Items]
Line of credit facility, maximum borrowing capacity	829,600,000
Long-term Debt	63,000,000		0
Letters of Credit Outstanding, Amount	7,400,000
Line of credit facility, remaining borrowing capacity	$ 829,600,000
Weighted average interest rates	2.52%	3.13%
Weighted average facility fee	0.30%	0.17%
Senior Notes [Member]
Debt instrument [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross	$ 5,000,000		5,200,000
Debt instrument, face amount	400,000,000
Long-term Debt	370,900,000		370,800,000
$150 senior unsecured notes [Member]
Debt instrument [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross			300,000
Debt instrument, face amount	375,000,000
$100.0 Series A Notes (5)
Debt instrument [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross	200,000		300,000
Long-term Debt	99,800,000		$ 99,700,000
Other Financing Agreements
Debt instrument [Line Items]
Line of credit facility, maximum borrowing capacity	437,800,000
Line of credit facility, amount utilized for bank guarantees	264,900,000
Term Loan 225 Million [Member] | Term Loan [Member]
Debt instrument [Line Items]
Debt instrument, face amount	225,000,000			$ 225,000,000
Debt Instrument, Redemption, Period One [Member] | HI_500TermLoan [Member]
Debt instrument [Line Items]
Debt Instrument, Periodic Payment, Principal	0.05
Debt Instrument, Redemption, Period Three [Member] | HI_500TermLoan [Member]
Debt instrument [Line Items]
Debt Instrument, Periodic Payment, Principal	0.075
Debt Instrument, Redemption, Period Five [Member] | HI_500TermLoan [Member]
Debt instrument [Line Items]
Debt Instrument, Periodic Payment, Principal	$ 0.10
Base Rate [Member] | Minimum | HI_500TermLoan [Member]
Debt instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	0.00%
Base Rate [Member] | Maximum | HI_500TermLoan [Member]
Debt instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	1.375%
LIBO Rate [Member] | Minimum | HI_500TermLoan [Member]
Debt instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	1.00%
LIBO Rate [Member] | Maximum | HI_500TermLoan [Member]
Debt instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	2.375%
Molding Technology Solutions | Revolver [Member] | $900.0 revolving credit facility (excluding outstanding letters of credit)
Debt instrument [Line Items]
Long-term Line of Credit	$ 650,000,000

Retirement Benefits (Details)

Retirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service costs	$ 0.5	$ 0.6
Interest costs	0.2	0.2
Expected return on plan assets	(0.2)	(0.1)
Amortization of net loss	0.7	0.4
Net periodic (benefit) pension cost	1.2	1.1
United States
Defined Benefit Plan Disclosure [Line Items]
Service costs	0.2	0.4
Interest costs	1.5	2
Expected return on plan assets	(2.7)	(3.2)
Amortization of net loss	0.5	1.2
Net periodic (benefit) pension cost	$ (0.5)	$ 0.4

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Defined Contribution Plan, Cost	$ 3.7	$ 3.3

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
TaxRate [Line Items]
Effective income tax rate	28.70%	93.90%
Net Operating Loss Utilized	$ 39.6
Molding Technology Solutions
TaxRate [Line Items]
Deferred tax asset, operating loss carryforward	65.5
Deferred tax asset, valuation allowance	22
Acquisition cost expensed	5.7	$ 53.8
Deferred Tax Liabilities, Gross	139
Deferred Tax Assets, Gross	$ 5.9

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income per common share
Consolidated net income (loss)	$ 77.7	$ (0.8)
Weighted average shares outstanding (basic - in millions)	75,300,000	68,400,000
Effect of dilutive stock options and other unvested equity awards (in millions) (1)	200,000	0
Weighted average shares outstanding (diluted - in millions)	75,500,000	68,400,000
Basic earnings (loss) per share	$ 1.01	$ (0.05)
Diluted earnings (loss) per share	$ 1.01	$ (0.05)
Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions)	1,400,000	2,400,000
Performance-based stock awards
Income per common share
Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions)	448,000	256,000
Retained Earnings [Member]
Income per common share
Consolidated net income (loss)	$ 76.4	$ (3.1)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Antidilutive securities excluded from computation of earnings per share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	1,400,000	2,400,000
Performance-based stock awards (maximum that can be earned)
Antidilutive securities excluded from computation of earnings per share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	448,000	256,000

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Cash dividends paid on common stock	$ 16.1	$ 15.8
Treasury Stock
Class of Stock [Line Items]
Common stock, shares issued	0.3	0.1

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Schedule of changes in accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	$ (102.8)
Other comprehensive income before reclassifications
Before tax amount	61	$ 18.6
Tax expense	(0.4)	(0.3)
After tax amount	60.6	18.3
Amounts reclassified from accumulated other comprehensive loss(1)	1.6	1.5
Total changes in other comprehensive income, net of tax	62.2	19.8
Balance at the end of the period	(40.7)
Pension and Postretirement
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(69.6)	(62.3)
Other comprehensive income before reclassifications
Before tax amount	0	0
Tax expense	0	0
After tax amount	0	0
Amounts reclassified from accumulated other comprehensive loss(1)	1.2	1.1
Total changes in other comprehensive income, net of tax	1.2	1.1
Reclassification of certain income tax effects			$ (6)
Balance at the end of the period	(68.4)	(67.2)
Currency Translation
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(21.1)	(64.7)
Other comprehensive income before reclassifications
Before tax amount	59.2	17.4
Tax expense	0	0
After tax amount	59.2	17.4
Amounts reclassified from accumulated other comprehensive loss(1)	0	0
Total changes in other comprehensive income, net of tax	59.2	17.4
Reclassification of certain income tax effects			0
Balance at the end of the period	38.1	(47.3)
Net Unrealized Gain (Loss) on Derivative Instruments
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(12.1)	(13.6)
Other comprehensive income before reclassifications
Before tax amount	1.7	1.3
Tax expense	(0.4)	(0.3)
After tax amount	1.3	1
Amounts reclassified from accumulated other comprehensive loss(1)	0.4	0.4
Total changes in other comprehensive income, net of tax	1.7	1.4
Reclassification of certain income tax effects			0
Balance at the end of the period	(10.4)	(12.2)
Total Attributable to Hillenbrand, Inc.
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(102.8)	(140.6)
Other comprehensive income before reclassifications
Before tax amount	60.9	18.7
Tax expense	(0.4)	(0.3)
After tax amount	60.5	18.4
Amounts reclassified from accumulated other comprehensive loss(1)	1.6	1.5
Total changes in other comprehensive income, net of tax	62.1	19.9
Reclassification of certain income tax effects			$ (6)
Balance at the end of the period	(40.7)	(126.7)
Noncontrolling Interests
Other comprehensive income before reclassifications
Before tax amount	0.1	(0.1)
Tax expense	0	0
After tax amount	0.1	(0.1)
Amounts reclassified from accumulated other comprehensive loss(1)	0	0
Total changes in other comprehensive income, net of tax	$ 0.1	$ (0.1)

Other Comprehensive Income (L_4

Other Comprehensive Income (Loss) - Schedule of reclassifications (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Affected Line in the Consolidated Statement of Operations:
Net revenue	$ 692.5	$ 566.9
Cost of goods sold	(448.3)	(395.1)
Operating expenses	(131.6)	(157.4)
Other income, net	(0.4)	1.9
Tax expense	(31.3)	12.4
Total reclassifications for the period, net of tax	1.6	1.5
Amortization of Pension and Postretirement
Affected Line in the Consolidated Statement of Operations:
Total reclassifications for the period, net of tax	1.2	1.1
Derivative Instruments
Affected Line in the Consolidated Statement of Operations:
Total reclassifications for the period, net of tax	0.4	0.4
Reclassifications out of accumulated other comprehensive income (loss)
Affected Line in the Consolidated Statement of Operations:
Net revenue	0	0.1
Cost of goods sold	0	(0.2)
Other income, net	1.8	2.1
Total before tax	1.8	2
Tax expense	(0.2)	(0.5)
Total reclassifications for the period, net of tax	1.6	1.5
Reclassifications out of accumulated other comprehensive income (loss) | Net Loss Recognized
Affected Line in the Consolidated Statement of Operations:
Net revenue	0	0
Cost of goods sold	0	0
Other income, net	1.3	1.6
Total before tax	1.3	1.6
Reclassifications out of accumulated other comprehensive income (loss) | Derivative Instruments
Affected Line in the Consolidated Statement of Operations:
Net revenue	0	0.1
Cost of goods sold	0	(0.2)
Other income, net	0.5	0.5
Total before tax	$ 0.5	$ 0.4

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of stock-based compensation costs (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Compensation Related Costs [Abstract]
Share-based compensation costs	$ 4.2	$ 2.3
Less impact of income tax benefit	(1)	(0.5)
Share-based compensation costs, net of tax	$ 3.2	$ 1.8

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of stock-based awards granted (Details)	3 Months Ended
	Dec. 31, 2020shares
Time-based stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted in period	277,891
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	362,282

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details)	3 Months Ended
	Dec. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award performance measurement period	3 years
Time-based stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, grant date fair value	$ 38.03
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	$ 44.39
Performance-based stock awards granted, number of units | shares	213,536

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accumulated other comprehensive income (loss) [Line Items]
Interest Income, Other	$ 0.6	$ 1.3
Foreign currency exchange gain, net	0.4	0.1
Other, net	(1.4)	0.5
Other (expense) income, net	$ (0.4)	$ 1.9

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2020USD ($)
General claims and lawsuits | Minimum
Commitments and Contingencies
Deductibles and self-insured retentions per occurrence or per claim	$ 0.5

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of financial assets and liabilities (Details) - USD ($)	Dec. 31, 2020	Sep. 30, 2020	Nov. 21, 2019
Assets:
Cash and cash equivalents	$ 265,800,000	$ 302,200,000
Investments in rabbi trust	4,400,000	3,900,000
Derivative instruments	4,800,000	2,600,000
Liabilities:
Derivative instruments	1,300,000	1,600,000
Level 1
Assets:
Cash and cash equivalents	265,800,000	302,200,000
Investments in rabbi trust	4,400,000	3,900,000
Derivative instruments	0	0
Liabilities:
Derivative instruments	0	0
Level 2
Assets:
Cash and cash equivalents	0	0
Investments in rabbi trust	0	0
Derivative instruments	4,800,000	2,600,000
Liabilities:
Derivative instruments	1,300,000	1,600,000
Level 3
Assets:
Cash and cash equivalents	0	0
Investments in rabbi trust	0	0
Derivative instruments	0	0
Liabilities:
Derivative instruments	0	0
$900.0 revolving credit facility (excluding outstanding letters of credit)
Liabilities:
Debt instruments	63,000,000
$900.0 revolving credit facility (excluding outstanding letters of credit) | Level 1
Liabilities:
Debt instruments	0
$900.0 revolving credit facility (excluding outstanding letters of credit) | Level 2
Liabilities:
Debt instruments	63,000,000
$900.0 revolving credit facility (excluding outstanding letters of credit) | Level 3
Liabilities:
Debt instruments	0
$500.0 term loan
Liabilities:
Debt instruments	468,700,000	475,000,000
$500.0 term loan | Level 1
Liabilities:
Debt instruments	0	0
$500.0 term loan | Level 2
Liabilities:
Debt instruments	468,700,000	475,000,000
$500.0 term loan | Level 3
Liabilities:
Debt instruments	0	0
Senior Unsecured Debt, Three Hundred Seventy Million [Member]
Liabilities:
Debt instrument, face amount	400,000,000
Term Loan Facility, Two Hundred Twenty-Five Million [Member]
Liabilities:
Debt instruments		213,700,000
Term Loan Facility, Two Hundred Twenty-Five Million [Member] | Level 1
Liabilities:
Debt instruments		0
Term Loan Facility, Two Hundred Twenty-Five Million [Member] | Level 2
Liabilities:
Debt instruments		213,700,000
Term Loan Facility, Two Hundred Twenty-Five Million [Member] | Level 3
Liabilities:
Debt instruments		0
Senior Unsecured Debt, One Hundred Fifty Million [Member]
Liabilities:
Debt instrument, face amount	375,000,000
$100.0 Series A Notes
Liabilities:
Debt instruments	100,000,000	100,000,000
$100.0 Series A Notes | Level 1
Liabilities:
Debt instruments	0	0
$100.0 Series A Notes | Level 2
Liabilities:
Debt instruments	104,600,000	105,300,000
$100.0 Series A Notes | Level 3
Liabilities:
Debt instruments	0	0
Term Loan [Member] | Term Loan 500 Million [Member]
Liabilities:
Debt instrument, face amount			$ 500,000,000
Term Loan [Member] | Term Loan 225 Million [Member]
Liabilities:
Debt instrument, face amount	225,000,000		$ 225,000,000
Term Loan Facility, Three Hundred Seventy-Five Million
Liabilities:
Debt instruments	374,500,000	374,500,000
Term Loan Facility, Three Hundred Seventy-Five Million | Level 1
Liabilities:
Debt instruments	421,000,000	409,000,000
Term Loan Facility, Three Hundred Seventy-Five Million | Level 2
Liabilities:
Debt instruments	0	0
Term Loan Facility, Three Hundred Seventy-Five Million | Level 3
Liabilities:
Debt instruments	0	0
Term Loan Facility, Four Hundred Million
Liabilities:
Debt instruments	400,000,000	400,000,000
Term Loan Facility, Four Hundred Million | Level 1
Liabilities:
Debt instruments	433,900,000	429,000,000
Term Loan Facility, Four Hundred Million | Level 2
Liabilities:
Debt instruments	0	0
Term Loan Facility, Four Hundred Million | Level 3
Liabilities:
Debt instruments	0	0
Foreign Exchange Forward | Cash flow hedging
Liabilities:
Derivative, notional amount	$ 224,700,000	$ 232,800,000

Segment and Geographical Info_3

Segment and Geographical Information - Schedule of net revenue and assets by segment (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020
Segment and Geographical Information
Total assets assigned	$ 4,015.3		$ 3,987.4
Property, plant, and equipment, net	460.6		468.6
Net revenue	692.5	$ 566.9
United States
Segment and Geographical Information
Property, plant, and equipment, net	173.6		182.4
Net revenue	328.7	282
GERMANY
Segment and Geographical Information
Property, plant, and equipment, net	114.8		110.4
Net revenue	34.3	35.8
CHINA
Segment and Geographical Information
Property, plant, and equipment, net	55.4		54.2
Net revenue	111.9	57
All other foreign business units
Segment and Geographical Information
Property, plant, and equipment, net	116.8		121.6
Net revenue	176.1	157.8
INDIA
Segment and Geographical Information
Net revenue	41.5	34.3
Operating segments
Segment and Geographical Information
Net revenue	692.5	566.9
Corporate
Segment and Geographical Information
Adjusted EBITDA (1)	(11.2)	(8.9)
Total assets assigned	48.4		63.2
Advanced Process Solutions
Segment and Geographical Information
Net revenue	290.8	306.6
Advanced Process Solutions | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	48.5	51.5
Total assets assigned	1,659.2		1,666.5
Molding Technology Solutions
Segment and Geographical Information
Net revenue	236.9	133.3
Molding Technology Solutions | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	48.4	26.3
Total assets assigned	2,074.7		2,032.4
Batesville
Segment and Geographical Information
Net revenue	164.8	127
Batesville | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	52.3	$ 23
Total assets assigned	$ 233		$ 225.3

Segment and Geographical Info_4

Segment and Geographical Information - Schedule of reconciliation of segment (Details 2) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Segment and Geographical Information
Interest income	$ (0.6)	$ (1.3)
Interest expense	21.2	14.7
Income tax expense (benefit)	31.3	(12.4)
Depreciation and amortization	29.3	25.9
Business acquisition, disposition, and integration costs	9.1	53.8
Restructuring and restructuring related charges	1.5	2.4
Business Combination, Inventory Step Up Costs	0	9.6
Gain on divestiture	31.6	0
Consolidated net income (loss)	77.7	(0.8)
Other Nonoperating Income (Expense)	0.4	(1.9)
Corporate
Segment and Geographical Information
Adjusted EBITDA (1)	(11.2)	(8.9)
Segment Reconciling Items [Member]
Segment and Geographical Information
Gain on divestiture	31.6	0
Other Nonoperating Income (Expense)	0.1	0
Advanced Process Solutions | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	48.5	51.5
Molding Technology Solutions | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	48.4	26.3
Batesville | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	$ 52.3	$ 23

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restructuring and Related Cost
Restructuring charges	$ 2.3	$ 3.1
Restructuring and restructuring related charges	1.5	2.4
Restructuring reserve, current	5.4
Corporate
Restructuring and Related Cost
Restructuring charges	0.2	0.3
Advanced Process Solutions
Restructuring and Related Cost
Restructuring charges	1.5	1.6
Molding Technology Solutions
Restructuring and Related Cost
Restructuring charges	0.4	0.8
Batesville
Restructuring and Related Cost
Restructuring charges	0.2	0.4
Operating expense
Restructuring and Related Cost
Restructuring charges	1.6	2.3
Operating expense | Corporate
Restructuring and Related Cost
Restructuring charges	0.2	0.3
Operating expense | Advanced Process Solutions
Restructuring and Related Cost
Restructuring charges	0.9	0.9
Operating expense | Molding Technology Solutions
Restructuring and Related Cost
Restructuring charges	0.3	0.8
Operating expense | Batesville
Restructuring and Related Cost
Restructuring charges	0.2	0.3
Cost of goods, segment | Corporate
Restructuring and Related Cost
Restructuring charges	0	0
Cost of goods, segment | Advanced Process Solutions
Restructuring and Related Cost
Restructuring charges	0.6	0.7
Cost of goods, segment | Molding Technology Solutions
Restructuring and Related Cost
Restructuring charges	0.1	0
Cost of goods, segment | Batesville
Restructuring and Related Cost
Restructuring charges	0	0.1
Cost of Goods and Service Benchmark [Member]
Restructuring and Related Cost
Restructuring charges	$ 0.7	$ 0.8