Hillenbrand (HI) 10-Q 8 Feb 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Dec. 31, 2022	Feb. 03, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2022
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		69,396,956
Entity Central Index Key	0001417398
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net revenue	$ 655.7	$ 565.9
Cost of goods sold	444.8	384.1
Gross profit	210.9	181.8
Operating expenses	142.3	112
Amortization expense	19.1	13.7
Loss on divestiture	0	3.1
Interest expense	23.3	17.9
Other income, net	(2.9)	(0.4)
Income from continuing operations before income taxes	29.1	35.5
Income tax expense	2.3	13.3
Income from continuing operations	26.8	22.2
Income from discontinued operations (net of income tax expense)	21	27.9
Consolidated net income	47.8	50.1
Less: Net income attributable to noncontrolling interests	2.3	1.1
Net income attributable to Hillenbrand	$ 45.5	$ 49
Basic earnings per share
Income from continuing operations attributable to Hillenbrand (in dollars per share)	$ 0.36	$ 0.29
Income from discontinued operations (in dollars per share)	0.30	0.38
Net income attributable to Hillenbrand	0.66	0.67
Diluted earnings per share
Income from continuing operations attributable to Hillenbrand (in dollars per share)	0.35	0.29
Income from discontinued operations (in dollars per share)	0.30	0.38
Diluted earnings per share	$ 0.65	$ 0.67
Weighted average shares outstanding (basic)	69.4	72.7
Weighted average shares outstanding (diluted)	69.8	73.5

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Loss on divestiture	$ 0	$ 3.1
Statement of Comprehensive Income [Abstract]
Consolidated net income (loss)	47.8	50.1
Changes in other comprehensive income, net of tax:
Currency translation adjustment (1)	43	2.4
Pension and postretirement	(0.2)	0.7
Change in net unrealized gain on derivative instruments	3.7	0.7
Total changes in other comprehensive income, net of tax	46.5	3.8
Consolidated comprehensive income	94.3	53.9
Less: Comprehensive income attributable to noncontrolling interests	2.1	1
Comprehensive income (loss)	$ 92.2	$ 52.9

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Current Assets
Cash and cash equivalents	$ 193.9	$ 232.2
Trade receivables, net	326.6	252.9
Receivables from long-term manufacturing contracts, net	270.3	213.3
Inventories, net	591.6	485.6
Prepaid expenses and other current assets	132.9	102.8
Current assets held for sale	238	116.1
Total current assets	1,753.3	1,402.9
Property, plant, and equipment, net	285.2	231.9
Operating lease right-of-use assets, net	106	87.9
Intangible assets, net	1,095.1	808
Goodwill	1,562.7	1,151.1
Other long-term assets	83.6	80.4
Long-term assets held for sale	0	105.3
Total Assets	4,885.9	3,867.5
Current Liabilities
Trade accounts payable	397.3	371
Liabilities from long-term manufacturing contracts and advances	392.3	290.3
Current portion of long-term debt	10	0
Accrued compensation	93.1	97
Current liabilities held for sale	130.6	113.8
Other current liabilities	240.6	205.7
Total current liabilities	1,263.9	1,077.8
Long-term debt	1,890.4	1,222.1
Accrued pension and postretirement healthcare	111.6	101.3
Operating lease liabilities	82.3	70.5
Deferred income taxes	291.1	210.2
Other long-term liabilities	53.8	51.8
Long-term liabilities held for sale	0	25.8
Total Liabilities	3,693.1	2,759.5
Commitments and contingencies (Note 16)
SHAREHOLDERS’ EQUITY
Common stock, no par value (75.8 and 75.8 shares issued, 69.3 and 68.9 shares outstanding)	0	0
Additional paid-in capital	706.5	723.8
Retained earnings	842	812
Treasury stock (6.5 and 6.9 shares, at cost)	(277)	(297.3)
Accumulated other comprehensive loss	(108.9)	(155.6)
Hillenbrand Shareholders’ Equity	1,162.6	1,082.9
Noncontrolling interests	30.2	25.1
Total Shareholders’ Equity	1,192.8	1,108
Total Liabilities and Shareholders’ Equity	$ 4,885.9	$ 3,867.5

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Dec. 31, 2022	Sep. 30, 2022
Statement of Financial Position [Abstract]
Common stock, shares issued	75,800,000	75,800,000
Common stock, shares outstanding	72,400,000	72,700,000
Treasury stock, shares	3,400,000	3,100,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flow - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating activities from continuing operations
Consolidated net income	$ 47,800	$ 50,100
Income from discontinued operations (net of income tax expense)	(21,000)	(27,900)
Adjustments to reconcile income from continuing operations to cash (used in) provided by operating activities:
Depreciation and amortization	31,000	25,600
Loss on divestiture	0	3,100
Deferred income taxes	(5,300)	(12,300)
Amortization of deferred financing costs	900	900
Share-based compensation	5,100	5,900
Trade accounts receivable, net and receivables from long-term manufacturing contracts	(51,100)	(4,000)
Inventories, net	2,700	(29,800)
Prepaid expenses and other current assets	(13,900)	(2,600)
Trade accounts payable	(11,600)	25,300
accrued compensation, and other current liabilities	14,800	(17,800)
Income taxes payable	(1,600)	12,700
Accrued pension and postretirement	(1,900)	(2,000)
Other, net	(1,500)	(6,900)
Net cash (used in) provided by operating activities from continuing operations	(5,600)	20,300
Investing activities from continuing operations
Capital expenditures	(15,300)	(7,600)
Proceeds from sales of property, plant, and equipment	800	0
Acquisition of businesses, net of cash acquired	(627,500)	0
Divestiture working capital payment	0	(4,500)
Net cash used in investing activities from continuing operations	(642,000)	(12,100)
Financing activities from continuing operations
Proceeds from issuance of long-term debt	200,000	0
Proceeds from revolving credit facilities	756,300	0
Repayments on revolving credit facilities	(326,300)	0
Payment of deferred financing costs	(600)	0
Payments of dividends on common stock	(15,300)	(15,800)
Repurchases of common stock	0	(28,900)
Proceeds from stock option exercises	6,900	14,600
Payments for employee taxes on net settlement equity awards	(9,200)	(5,700)
Other, net	(1,500)	(1,600)
Net cash provided by (used in) financing activities from continuing operations	610,300	(37,400)
Cash used in continuing operations	(37,300)	(29,200)
Cash (used in) provided by discontinued operations:
Operating cash flows	(600)	24,200
Investing cash flows	(4,500)	(2,100)
Total cash (used in) provided by discontinued operations	(5,100)	22,100
Effect of exchange rates on cash and cash equivalents	600	4,400
Net cash flows	(41,800)	(2,700)
Cash, cash equivalents, restricted cash, and cash and cash equivalents held for sale:
At beginning of period	237,600	450,900
At end of period	$ 195,800	$ 448,200

Consolidated Statements of Shar

Consolidated Statements of Shareholders Equity Statement - USD ($) shares in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Balance at Sep. 30, 2021	$ 1,232,200,000		$ 725,400,000	$ 666,200,000	$ (135,700,000)	$ (46,300,000)	$ 22,600,000
Balance, shares at Sep. 30, 2021		75.8			3.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total other comprehensive income (loss), net of tax	3,800,000					3,900,000	(100,000)
Income from continuing operations	50,100,000			49,000,000			1,100,000
Stock Repurchased During Period, Value	$ (28,900,000)
Stock Repurchased During Period, Shares	0.6
Common stock, shares issued					(0.5)
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture	$ 8,900,000		(16,800,000)		$ 25,700,000
Share-based compensation	5,900,000		5,900,000
Dividends, Common Stock	(17,400,000)		300,000	(16,100,000)			(1,600,000)
Balance at Dec. 31, 2021	$ 1,254,600,000		714,800,000	699,100,000	$ (138,900,000)	(42,400,000)	22,000,000
Balance, shares at Dec. 31, 2021		75.8			3.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, dividends, per share, declared (in dollars per share)	$ 0.2150
Balance at Sep. 30, 2022	$ 1,108,000,000		723,800,000	812,000,000	$ (297,300,000)	(155,600,000)	25,100,000
Balance, shares at Sep. 30, 2022		75.8			6.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total other comprehensive income (loss), net of tax	46,500,000					46,700,000	(200,000)
Income from continuing operations	47,800,000			45,500,000			2,300,000
Common stock, shares issued					(0.4)
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture	(2,300,000)		(22,600,000)		$ 20,300,000
Share-based compensation	5,100,000		5,100,000
Dividends, Common Stock	(16,900,000)		200,000	(15,500,000)			(1,600,000)
Noncontrolling Interest, Increase from Business Combination	4,600,000						4,600,000
Balance at Dec. 31, 2022	$ 1,192,800,000		$ 706,500,000	$ 842,000,000	$ (277,000,000)	$ (108,900,000)	$ 30,200,000
Balance, shares at Dec. 31, 2022		75.8			6.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, dividends, per share, declared (in dollars per share)	$ 0.2175

Background and Basis of Present

Background and Basis of Presentation	3 Months Ended
	Dec. 31, 2022
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 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 Company recently enhanced the HOM to support our transformation to a pure-play industrial company. The HOM describes the Company’s purpose, mission, vision, values, and mindset as leaders; applies our management practices in Strategy, People, Operational Excellence, and Innovation & Technology; and prescribes four steps (Understand, Focus, Execute, 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 industrial company through the deployment of the HOM. “Hillenbrand,” the “Company,” “we,” “us,” “our,” and similar words refer to Hillenbrand, Inc. and its subsidiaries unless context otherwise requires. On December 15, 2022, the Company entered into a definitive agreement to sell its Batesville reportable operating segment to BL Memorial Partners, LLC, a Delaware limited liability company owned by funds affiliated with LongRange Capital, L.P., for $761.5, which includes an $11.5 subordinated note, subject to closing adjustments. Batesville is a recognized leader in the death care industry in North America. On February 1, 2023, the Company completed the divestiture. At closing, after applicable adjustments, the Company received $698.0 in pre-tax cash proceeds, including an adjustment for cash on hand acquired from the Company. The Company also received the previously mentioned $11.5 subordinated note. The Company expects to recognize a gain within the Consolidated Statement of Operations during the quarter ended March 31, 2023. Accordingly, the Batesville reportable operating segment assets and liabilities were classified as held for sale in the Consolidated Balance Sheets for all periods presented. Subsequent to the completion of the sale, the Company expects to provide certain transition services to Batesville for applicable fees. The transition services are expected to vary in duration depending upon the type of service provided. This divestiture represents a strategic shift in Hillenbrand’s business and qualified as a discontinued operation as of December 31, 2022. As a result, the Company classified the results of Batesville in discontinued operations in its Consolidated Statements of Operations for all periods presented. The cash flows related to discontinued operations have been segregated and are included in the Consolidated Statements of Cash Flows for all periods presented. Unless otherwise noted, discussion within the notes to the Consolidated Financial Statements relates to continuing operations only and excludes the historical Batesville reportable operating segment. See Note 4 for additional information. As a result of classifying the Batesville reportable operating segment as a discontinued operation, Hillenbrand is now composed of two reportable operating segments: Advanced Process Solutions and Molding Technology Solutions. Advanced Process Solutions is a global leader in highly-engineered process and material handling equipment and systems for a wide variety of industries, including durable plastics, food, and recycling industries. Molding Technology Solutions is a global leader in highly-engineered processing equipment, systems, and aftermarket parts and service for the plastic technology processing industry. The unaudited Consolidated Financial Statements include the accounts of Hillenbrand and its subsidiaries. They also include three 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 (“U.S.”) 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, 2022, as filed with the SEC on November 16, 2022. In the opinion of management, these unaudited 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 consolidated 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 net revenue 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 over time method, 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. As a result of the Russian Federation’s invasion of Ukraine in February 2022 (the “Ukraine War”), various nations, including the U.S., have instituted economic sanctions and other responsive measures, which have resulted in an increased level of global economic and political uncertainty. Any such geopolitical instability and uncertainty could have a negative impact on our ability to sell to, ship products to, collect payments from, and support customers in certain regions. The effects of the Ukraine War and such associated measures on management’s estimates and consolidated results of operations through December 31, 2022 are reflected in the Consolidated Financial Statements. As of and for the three months ended December 31, 2022, the effects of the Ukraine War have not had a material impact on the Consolidated Financial Statements. Events and changes in circumstances arising after December 31, 2022, including those resulting from Ukraine War, will be reflected in management’s estimates for future periods in subsequent periodic filings.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2022
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, 2022, except as described below. Recently Adopted Accounting Standards In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . 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. The Company adopted ASU 2019-12 during the year ended September 30, 2022, and has applied it to all periods presented, as applicable. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . ASU 2021-08 requires companies to apply Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers , to recognize and measure contract assets and contract liabilities from contracts with customers acquired in a business combination. This generally will result in an acquirer recognizing contract assets and contract liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition as compared to the ASC 805, Business Combinations (“ASC 805”) requirement that an acquirer recognize and measure the assets it acquires and liabilities it assumes at fair value on the acquisition date. ASU 2021-08 is effective for the Company’s fiscal year beginning October 1, 2023, with early adoption permitted. The Company adopted ASU 2021-08 during the year ended September 30, 2022, and has applied it to all acquisitions executed in the current year, as applicable. No other new accounting pronouncements recently adopted or issued had or are expected to have a material impact on the Consolidated Financial Statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Net revenue includes gross revenue less sales discounts and sales incentives, 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. Contract balances The balance in receivables from long-term manufacturing contracts at December 31, 2022 and September 30, 2022, was $270.3 and $213.3, 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, 2022 and September 30, 2022, was $392.3 and $290.3, respectively, and consists primarily of cash payments received or due in advance of satisfying performance obligations. The net revenue recognized for the three months ended December 31, 2022 and 2021, related to liabilities from long-term manufacturing contracts and advances as of September 30, 2022 and 2021, was $91.4 and $98.7, respectively. During the three months ended December 31, 2022 and 2021, the adjustments related to performance obligations satisfied in previous periods were immaterial. Transaction price allocated to the remaining performance obligations As of December 31, 2022, the aggregate amount of transaction price of remaining performance obligations for the Company, which corresponds to backlog as defined in Part I, Item 2 of this Quarterly Report on Form 10-Q, was $1,959.3. Approximately 79% 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, 2022 Three Months Ended December 31, 2021 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total End market Plastics $ 240.8 $ — $ 240.8 $ 235.0 $ — $ 235.0 Automotive — 49.2 49.2 — 49.6 49.6 Chemicals 24.7 — 24.7 24.2 — 24.2 Consumer goods — 33.1 33.1 — 39.7 39.7 Food and pharmaceuticals 103.8 — 103.8 21.8 — 21.8 Custom molders — 26.6 26.6 — 38.3 38.3 Packaging — 28.6 28.6 — 35.2 35.2 Construction — 31.1 31.1 — 24.6 24.6 Minerals 13.8 — 13.8 12.1 — 12.1 Electronics — 15.9 15.9 — 14.3 14.3 Medical — 16.5 16.5 — 20.0 20.0 Other industrial 29.7 41.9 71.6 24.0 27.1 51.1 Total $ 412.8 $ 242.9 $ 655.7 $ 317.1 $ 248.8 $ 565.9 The following tables present net revenue by geography: Three Months Ended December 31, 2022 Three Months Ended December 31, 2021 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Geography Americas $ 138.5 $ 136.2 $ 274.7 $ 63.6 $ 129.1 $ 192.7 Asia 148.7 68.2 216.9 168.6 81.6 250.2 Europe, the Middle East, and Africa 125.6 38.5 164.1 84.9 38.1 123.0 Total $ 412.8 $ 242.9 $ 655.7 $ 317.1 $ 248.8 $ 565.9 The following tables present net revenue by products and services: Three Months Ended December 31, 2022 Three Months Ended December 31, 2021 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Products and services Equipment $ 305.3 $ 162.1 $ 467.4 $ 231.5 $ 171.8 $ 403.3 Parts and services 107.5 64.6 172.1 85.6 60.3 145.9 Other — 16.2 16.2 — 16.7 16.7 Total $ 412.8 $ 242.9 $ 655.7 $ 317.1 $ 248.8 $ 565.9 The following tables present net revenue by timing of transfer: Three Months Ended December 31, 2022 Three Months Ended December 31, 2021 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Timing of transfer Point in time $ 220.2 $ 230.0 $ 450.2 $ 135.0 $ 246.1 $ 381.1 Over time 192.6 12.9 205.5 182.1 2.7 184.8 Total $ 412.8 $ 242.9 $ 655.7 $ 317.1 $ 248.8 $ 565.9

Divestitures

Divestitures	3 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures Batesville Held for sale As previously described in Note 1, the assets and liabilities of the Batesville reportable operating segment have been reflected as assets and liabilities held for sale. The following is a summary of the major categories of assets and liabilities held for sale at: December 31, 2022 September 30, 2022 Cash and cash equivalents $ 0.9 $ 1.9 Trade receivables, net 67.9 59.5 Inventories, net 49.6 48.2 Property, plant and equipment, net 51.3 — Operating lease right-of-use assets, net 39.7 — Intangible assets, net 2.7 — Goodwill 8.3 — Other assets 17.6 6.5 Current assets held for sale $ 238.0 $ 116.1 Property, plant and equipment, net $ — 49.1 Operating lease right-of-use assets, net — 35.6 Intangible assets, net — 2.7 Goodwill — 8.3 Long-term assets — 9.6 Long-term assets held for sale $ — $ 105.3 Trade accounts payable $ 58.6 $ 62.0 Accrued compensation 5.9 13.6 Operating lease liabilities 39.0 13.0 Other liabilities 27.1 25.2 Current liabilities held for sale $ 130.6 $ 113.8 Operating lease liabilities $ — 22.1 Other liabilities — 3.7 Long-term liabilities held for sale $ — $ 25.8 Discontinued operations As previously described in Note 1, on December 15, 2022, the Company entered into a definitive agreement to sell its Batesville reportable operating segment, which was completed on February 1, 2023. The Company determined that this divestiture qualified as a discontinued operation, in accordance with GAAP, since it represents a strategic shift for the Company and had a major effect on the Company’s consolidated results of operations. Accordingly, the results of operations for the Batesville reportable operating segment have been classified as discontinued operations within the Consolidated Financial Statements for all periods presented. Certain indirect corporate costs included within operating expenses in the Consolidated Statements of Operations that were previously allocated to the Batesville reportable operating segment do not qualify for classification within discontinued operations and are now reported as operating expenses in continuing operations within corporate expenses. In addition, divestiture-related costs previously not allocated to the Batesville reportable operating segment that were incurred as part of the divestiture have been reflected in discontinued operations. As a result, income before income taxes of Batesville has been decreased by $3.5 for the three months ended December 31, 2022, and has been decreased by $0.3 for the three months ended December 31, 2021, with the offsetting changes in corporate expenses of continuing operations. Components of amounts reflected in the Consolidated Statements of Operations related to discontinued operations are presented in the table, as follows: Three Months Ended December 31, 2022 2021 Net revenue $ 156.0 $ 162.5 Cost of goods sold 103.7 107.0 Gross profit 52.3 55.5 Operating expenses 19.6 16.1 Other expense, net 1.3 1.5 Income from discontinued operations before income taxes 31.4 37.9 Income tax expense 10.4 10.0 Income from discontinued operations (net of income tax expense) $ 21.0 $ 27.9 Divestiture of TerraSource On October 22, 2021, the Company completed the divestiture of its TerraSource Global business (“TerraSource”) pursuant to a Contribution Agreement (“Agreement”) between the Company and certain affiliated companies of industrial holding company Right Lane Industries (“RLI”). Under the terms of the Agreement, Hillenbrand contributed TerraSource and its subsidiaries to a newly formed entity, TerraSource Holdings, LLC (“Holdings”), with RLI obtaining majority ownership and full operational control of TerraSource. In exchange for contributing the TerraSource business, the Company (i) received consideration in the form of a $25.6 five As a result of the TerraSource divestiture, the Company recorded a pre-tax loss of $3.1, after post-closing adjustments, in the Consolidated Statement of Operations during the three months ended December 31, 2021. The Company incurred $0.4 of transaction costs associated with the divestiture during the three months ended December 31, 2021, which were recorded within operating expenses in the Consolidated Statement of Operations. TerraSource’s results of operations were included within the Advanced Process Solutions reportable operating segment until the completion of the divestiture on October 22, 2021. Subsequent to the divestiture, the Company’s equity interest in Holdings is accounted for under the equity method of accounting as prescribed by GAAP.

Acquisitions

Acquisitions	3 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Acquisitions	Acquisitions Acquisition of Peerless Food Equipment On December 1, 2022, the Company completed the acquisition of the Peerless Food Equipment division (“Peerless”) of Illinois Tool Works Inc. for a purchase price of $59.9, subject to customary post-closing adjustments and including cash acquired, using available borrowings under its existing $1,000.0 multi-currency credit facility (the “Facility”). Headquartered in Sidney, Ohio, Peerless is a premier supplier of industrial food processing equipment. The acquisition of Peerless increases the Company's scale in the food end market, and by combining Peerless’s highly complementary equipment and solutions with existing Coperion, Linxis, and Gabler technologies, allows the Company to deliver more comprehensive solutions to its customers. Preliminary purchase price allocation and other items The determination of the preliminary purchase price allocation to specific assets acquired and liabilities assumed is incomplete for Peerless at this time, given the timing of the close of the transaction. It is anticipated that the majority of the purchase price allocation will ultimately be assigned to the fair value of the acquired property, plant and equipment, working capital assets and liabilities, identifiable intangible assets, and goodwill. The preliminary purchase price allocation will change in future periods as the fair value estimates of assets and liabilities and the valuation of the related tax assets and liabilities are completed. Changes during the measurement period could be material. The final determination of the fair value of assets acquired and liabilities assumed will be completed within the one-year measurement period as allowed by ASC 805. The Company expects to continue to obtain information for the purpose of determining the fair value of the assets acquired and liabilities assumed at the acquisition date throughout the remainder of the measurement period. Based on current fair value estimates and the timing of the close of the transaction, the preliminary purchase price for Peerless has been allocated to individual assets acquired and liabilities assumed as of the acquisition date: December 1, 2022 Assets acquired: Current assets $ 16.2 Property, plant, and equipment 2.3 Goodwill 50.9 Total assets acquired 69.4 Liabilities assumed: Current liabilities 9.5 Total liabilities assumed 9.5 Net assets acquired $ 59.9 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. Goodwill is expected to be deductible for tax purposes. During the three months ended December 31, 2022, the Company incurred $1.2 in acquisition expenses related to the Peerless acquisition, which are included in operating expenses in the Consolidated Statement of Operations. The results of Peerless are reported in the Advanced Process Solutions reportable operating segment and are not material to the Consolidated Financial Statements for the three months ended December 31, 2022. Acquisition of LINXIS Group SAS On October 6, 2022, the Company completed the acquisition of LINXIS Group SAS (“Linxis”) from IBERIS INTERNATIONAL S.À R.L, an affiliate of IK Partners, and additional sellers (collectively, the “Sellers”). As a result of the acquisition, the Company acquired from the Sellers all of the issued and outstanding securities of Linxis, and Linxis became a wholly owned subsidiary of the Company for total aggregate consideration of $590.8 (€596.2) in cash, reflecting an approximate enterprise value of $566.8 (€572.0) plus cash acquired at closing, subject to post-closing adjustments. The Company used available borrowings under the Facility to fund this acquisition. Linxis has six market-leading brands – Bakon, Diosna, Shaffer, Shick Esteve, Unifiller, and VMI – that serve customers in over 100 countries. With a global manufacturing, sales and service footprint, Linxis specializes in design, manufacturing, and service of dosing, kneading, mixing, granulating, drying and coating technologies. The results of Linxis are reported within the Advanced Process Systems reportable operating segment. Purchase price allocation and other items The Company utilized the services of an independent valuation consultant, along with estimates and assumptions provided by management, to estimate the fair value of the assets acquired and liabilities assumed. The preliminary allocation of the purchase price was based on an evaluation of the appropriate fair values and represents management’s best estimate based on available data. The purchase price allocation of the assets acquired and liabilities assumed is preliminary until the contractual post-closing adjustments are finalized, the final independent valuation consultant report is issued, and the measurement period allowed for under ASC 805 has closed. The final determination of the fair value of assets acquired and liabilities assumed will be completed within the one-year measurement period as allowed by ASC 805. Changes during the measurement period could be material. Based on current fair value estimates, the preliminary purchase price for Linxis has been allocated to individual assets acquired and liabilities assumed as of the acquisition date: October 6, 2022 Assets acquired: Cash and cash equivalents $ 22.9 Trade receivables 31.5 Receivables from long-term manufacturing contracts 12.1 Inventories 80.1 Prepaid expenses and other current assets 11.7 Property, plant, and equipment 36.7 Operating lease right-of-use assets 15.0 Intangible assets 243.8 Goodwill 332.0 Other noncurrent assets 1.0 Total assets acquired 786.8 Liabilities assumed: Trade accounts payable 18.9 Liabilities from long-term manufacturing contracts 52.0 Accrued compensation 10.3 Other current liabilities 19.6 Accrued pension and postretirement healthcare 3.9 Operating lease liabilities 9.4 Deferred income taxes 77.0 Other noncurrent liabilities 0.3 Total liabilities assumed 191.4 Net assets acquired 595.4 Less: Fair value of Linxis noncontrolling interest (1) (4.6) Purchase price consideration $ 590.8 (1) While the Company acquired all issued and outstanding securities of Linxis in the acquisition, a noncontrolling interest in a single subsidiary of Linxis was held by current and former members of that company’s management as of the acquisition date. Intangible assets identified The preliminary purchase price allocation included $243.8 of acquired identifiable intangible assets. Intangible assets consist of Linxis’s trade name portfolio and customer relationships and will be amortized on a straight-line basis over the respective estimated periods for which the intangible assets will provide economic benefit to the Company. The determination of the useful lives is based upon various industry studies, historical acquisition experience, degree of stability in the current Linxis customer base, economic factors, and expected future cash flows of the Company post acquisition of Linxis. Trade names were valued using the relief-from-royalty method of the income approach. Customer relationships were valued using the multi-period excess earnings method of the income approach. Significant assumptions used in the valuations included Linxis cash flow projections which were based on estimates used to price the Linxis acquisition, discount rates that were benchmarked with reference to the implied rate of return to the Company’s pricing model, and the applicable weighted-average cost of capital (12%). The preliminary amounts allocated to intangible assets are as follows: Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 211.1 13 years Trade names 32.7 10 years Total intangible assets $ 243.8 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 expected to be deductible for income tax purposes. The working capital assets and liabilities, as well as the property 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 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 preliminary purchase accounting fair values, 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 Linxis operations have been included in Hillenbrand’s Consolidated Financial Statements since the October 6, 2022, acquisition date. The following table provides the results of operations for Linxis included in Hillenbrand’s Consolidated Statement of Operations: Three Months Ended December 31, 2022 Net revenue $ 81.0 Loss from continuing operations before income taxes (0.1) During the three months ended December 31, 2022, the Company incurred $0.9 in acquisition expenses related to the Linxis acquisition, which are included in operating expenses in the Consolidated Statement of Operations. Acquisition of Herbold Meckesheim GmbH On August 31, 2022, the Company completed the acquisition of Herbold Meckesheim GmbH (“Herbold”) for $77.7 (€77.5) in cash, pursuant to a definitive acquisition agreement dated June 30, 2022. Based in Meckesheim, Germany, Herbold is a leader in recycling systems, specializing in key process steps such as washing, separating, drying, shredding, and pulverizing. The acquisition of Herbold advances the Company’s long term growth strategy in the key end market of recycling. Herbold offers highly complementary technologies to Hillenbrand’s Coperion branded products and enhances the Company’s offering of complete recycling solutions. Preliminary purchase price allocation and other items The Company utilized the services of an independent valuation consultant, along with estimates and assumptions provided by management, to estimate the fair value of the assets acquired and liabilities assumed. The preliminary allocation of the purchase price was based on an evaluation of the appropriate fair values and represents management’s best estimate based on available data. The purchase price allocation of the assets acquired and liabilities assumed is preliminary until the contractual post-closing adjustments are finalized, the final independent valuation consultant report is issued, and the measurement period allowed for under ASC 805 has closed. The final determination of the fair value of assets acquired and liabilities assumed will be completed within the one-year measurement period as allowed by ASC 805. Changes during the measurement period could be material. Based on current fair value estimates, the preliminary purchase price for Herbold has been allocated to individual assets acquired and liabilities assumed as of the acquisition date: August 31, 2022 (as initially reported) Measurement Period Adjustments August 31, 2022 (as adjusted) Assets acquired: Current assets $ 38.2 $ 2.4 $ 40.6 Property, plant, and equipment 4.7 2.3 7.0 Intangible assets — 22.6 22.6 Goodwill 69.3 (26.2) 43.1 Other assets 5.3 — 5.3 Total assets acquired 117.5 1.1 118.6 Liabilities assumed: Current liabilities 33.9 1.1 35.0 Other long-term liabilities 5.9 — 5.9 Total liabilities assumed 39.8 1.1 40.9 Net assets acquired $ 77.7 $ — $ 77.7 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 intangible assets, goodwill, and current assets and liabilities. 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. Intangible assets identified The preliminary purchase price allocation included $22.6 of acquired identifiable intangible assets. Intangible assets consist of Herbold’s trade name portfolio, technology, and customer relationships, and will be amortized on a straight-line basis over the respective estimated periods for which the intangible assets will provide economic benefit to the Company. The determination of the useful lives is based upon various industry studies, historical acquisition experience, stability in the current Herbold customer base, economic factors, and future expected cash flows of the Company post acquisition of Herbold. Trade names and technology were valued using the relief-from-royalty method of the income approach. Customer relationships were valued using the multi-period excess earnings method of the income approach. Significant assumptions used in the valuations included Herbold cash flow projections which were based on estimates used to price the Herbold acquisition, discount rates that were benchmarked with reference to the implied rate of return to the Company’s pricing model, and the applicable weighted-average cost of capital (20%). The preliminary amounts allocated to intangible assets are as follows: Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 10.2 15 years Trade names 8.0 10 years Technology 4.4 7 years Total intangible assets $ 22.6 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 expected to be deductible for income tax purposes. The working capital assets and liabilities, as well as the property 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 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 preliminary purchase accounting fair values, 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. During the three months ended December 31, 2022, the acquisition expenses related to the Herbold acquisition were not material. The results of Herbold are reported in the Advanced Process Solutions reportable operating segment and are not material to the Consolidated Financial Statements for the three months ended December 31, 2022. Acquisition of Gabler Engineering GmbH On June 30, 2022, the Company completed the acquisition of Gabler Engineering GmbH (“Gabler”) for $12.9 (€12.6) in cash. Gabler, based in Malsch, Germany, specializes in the design, engineering, manufacturing, and implementation of plants and equipment for the confectionery and pharmaceutical industries. The determination of the preliminary purchase price allocation to specific assets acquired and liabilities assumed is incomplete for Gabler. The final determination of the fair value of assets acquired and liabilities assumed will be completed within the one-year measurement period as allowed by ASC 805. The majority of the preliminary purchase price allocation was assigned to the fair value of the acquired property, plant and equipment, working capital assets and liabilities, and residual goodwill (which is currently estimated to be approximately $5.4). There were no material changes in the preliminary purchase price allocation during the three months ended December 31, 2022. Goodwill is not expected to be deductible for tax purposes. The results of Gabler are reported in the Advanced Process Solutions reportable operating segment and are not material to the Consolidated Financial Statements for the three months ended December 31, 2022. 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 Gabler, Herbold, Linxis, and Peerless acquisitions had been completed on the date indicated, does not reflect synergies that might have been achieved, and is not indicative of future results of operations 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 acquisitions of Gabler, Herbold, Linxis, and Peerless had occurred on October 1, 2021, to give effect to certain events that Hillenbrand believes to be directly attributable to the acquisitions. 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 Linxis’s historical debt in conjunction with the acquisition; • an adjustment to remove business acquisition and integration costs and inventory step-up costs during the three months ended December 31, 2022, as these costs are non-recurring in nature and would not have a continuing effect on Hillenbrand’s results of operations; 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, 2022 2021 Net revenue $ 661.5 $ 661.0 Income from continuing operations attributable to Hillenbrand 33.5 19.0 Income from continuing operations attributable to Hillenbrand — per share of common stock: Basic earnings per share from continuing operations $ 0.48 $ 0.26 Diluted earnings per share from continuing operations $ 0.48 $ 0.26

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Information	Supplemental Consolidated Balance Sheet Information December 31, September 30, Allowance for doubtful accounts $ 7.4 $ 6.4 Warranty reserves $ 27.6 $ 22.4 Accumulated depreciation on property, plant, and equipment $ 212.1 $ 197.6 Inventories, net: Raw materials and components $ 251.7 $ 210.1 Work in process 136.6 107.9 Finished goods 203.3 167.6 Total inventories, net $ 591.6 $ 485.6 The following table provides a reconciliation of cash, cash equivalents, restricted cash, and cash and cash equivalents held for sale reported within the Consolidated Balance Sheets that sum to the total of the same amounts shown in the Consolidated Statements of Cash Flows: December 31, 2022 December 31, 2021 Cash and cash equivalents $ 193.9 $ 446.3 Cash and cash equivalents classified as held for sale 0.9 1.1 Short-term restricted cash included in other current assets 1.0 0.8 Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows $ 195.8 $ 448.2

Leases

Leases	3 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases For the three months ended December 31, 2022 and 2021, the Company recognized $7.1 and $6.1, of operating lease expense, respectively, including short-term lease expense and variable lease costs, which were immaterial in each period. The Company’s finance leases were insignificant as of December 31, 2022 and September 30, 2022. The following table presents supplemental Consolidated Balance Sheet information related to the Company’s operating leases: December 31, 2022 September 30, 2022 Operating lease right-of-use assets, net $ 106.0 $ 87.9 Other current liabilities 18.3 15.7 Operating lease liabilities 82.3 70.5 Total operating lease liabilities $ 100.6 $ 86.2 Weighted-average remaining lease term (in years) 7.6 7.9 Weighted-average discount rate 2.9 % 2.7 % As of December 31, 2022, the maturities of the Company’s operating lease liabilities were as follows: 2023 (excluding the three months ended December 31, 2022) $ 16.2 2024 17.4 2025 14.9 2026 12.5 2027 10.8 Thereafter 39.4 Total lease payments 111.2 Less: imputed interest (10.6) Total present value of lease payments $ 100.6 Supplemental Consolidated Statements of Cash Flow information related to the Company’s operating leases is as follows: Three Months Ended December 31, 2022 2021 Cash paid for amounts included in the measurement of operating lease liabilities $ 5.6 $ 5.2 Operating lease right-of-use assets, net obtained in exchange for new operating lease liabilities 1.8 0.4 Operating leases acquired in acquisitions 15.0 —

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Dec. 31, 2022
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. Intangible assets are amortized on a straight-line basis over periods ranging from three The following table summarizes the carrying amounts and related accumulated amortization for intangible assets as of: December 31, 2022 September 30, 2022 Cost Accumulated Cost Accumulated Finite-lived assets: Customer relationships $ 998.7 $ (244.0) $ 739.6 $ (221.1) Trade names 43.6 (1.1) — — Technology, including patents 140.8 (74.0) 132.9 (68.4) Software 38.1 (28.9) 34.4 (27.0) 1,221.2 (348.0) 906.9 (316.5) Indefinite-lived assets: Trade names 221.9 — 217.6 — Total $ 1,443.1 $ (348.0) $ 1,124.5 $ (316.5) The net change in intangible assets during the three months ended December 31, 2022, was driven primarily by the acquisitions of Linxis and Herbold, which included intangible assets of $266.4, including impact of measurement period adjustments, normal amortization, and foreign currency adjustments. See Note 5 for further detail on the acquisitions of Linxis and Herbold. Estimated amortization expense related to intangible assets for the next five years is: $74.0 in 2023, $73.9 in 2024, $71.1 in 2025, $70.4 in 2026, and $70.6 in 2027. Goodwill Goodwill is not amortized, but is subject to annual impairment tests. Goodwill has been assigned to reporting units within the reportable operating 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. The following table summarizes the changes in the Company’s goodwill, by reportable operating segment, for the three months ended December 31, 2022: Advanced Process Solutions Molding Technology Solutions Total Balance as of September 30, 2022 $ 516.0 $ 635.1 $ 1,151.1 Acquisitions (1) 382.9 — 382.9 Acquisition measurement period adjustments (25.8) — (25.8) Foreign currency adjustments 44.6 9.9 54.5 Balance as of December 31, 2022 $ 917.7 $ 645.0 $ 1,562.7 (1) See Note 5 for further information on the acquisitions of Linxis and Peerless. During the three months ended December 31, 2022 and 2021, the Company did not observe any triggering events or substantive changes in circumstances requiring the need for an interim impairment assessment.

Financing Agreements

Financing Agreements	3 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Financing Agreements	Financing Agreements The following table summarizes Hillenbrand’s current and long-term debt as of: December 31, September 30, $1,000.0 revolving credit facility (excluding outstanding letters of credit) $ 484.6 $ 6.7 $200.0 term loan 200.0 — $400.0 senior unsecured notes (1) 397.2 397.1 $375.0 senior unsecured notes, net of discount (2) 372.4 372.2 $350.0 senior unsecured notes (3) 346.3 346.2 $100.0 Series A Notes (4) 99.9 99.9 Total debt 1,900.4 1,222.1 Less: current portion 10.0 — Total long-term debt $ 1,890.4 $ 1,222.1 (1) Includes unamortized debt issuance costs of $2.8 and $2.9 at December 31, 2022 and September 30, 2022, respectively. (2) Includes unamortized debt issuance costs of $2.3 and $2.5 at December 31, 2022 and September 30, 2022, respectively. (3) Includes unamortized debt issuance costs of $3.7 and $3.8 at December 31, 2022 and September 30, 2022, respectively. (4) Includes unamortized debt issuance costs of $0.1 and $0.1 at December 31, 2022 and September 30, 2022, respectively. With respect to the Facility, as of December 31, 2022 and September 30, 2022, the Company had outstanding balances of $484.6 and $6.7, respectively. As of December 31, 2022, the Company had $21.0 in outstanding letters of credit issued and $494.4 of borrowing capacity under the Facility, all of which was immediately available based on the Company’s most restrictive covenant at December 31, 2022, assuming utilization of the available election to increase the maximum permitted leverage ratio to 4.00 to 1.00. During the three months ended December 31, 2022, the Company executed a $200.0 draw on the term loan provided for by the Fourth Amended and Restated Credit Agreement (the “Credit Agreement”). The term loan will mature upon the maturity date of the Facility, June 8, 2027. The weighted-average interest rate on borrowings under the Facility was 2.23% for the three months ended December 31, 2022. There were no borrowings under the Facility during the three months ended December 31, 2021. The weighted-average interest rate on the term loan was 5.43% for the three months ended December 31, 2022. There were no borrowings on the term loan during the three months ended December 31, 2021. The weighted average facility fee on the Facility was 0.15% and 0.15% for the three months ended December 31, 2022 and 2021, respectively. Other credit arrangements In the normal course of business, certain operating companies within the Advanced Process Solutions and Molding Technology Solutions reportable operating segments 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, 2022 and September 30, 2022, the Company had credit arrangements totaling $440.8 and $373.6, respectively, under which $262.4 and $247.4, respectively, were used for guarantees. These arrangements include the Company’s Syndicated L/G Facility Agreement (“L/G Facility Agreement”) and other ancillary credit facilities. Covenants related to current financing agreements The Credit Agreement, L/G Facility Agreement and Private Shelf Agreement, dated as of December 6, 2012 (as amended, the “Shelf Agreement”) among the Company, Prudential Investment Management, Inc. and each Prudential Affiliate (as defined therein) that became a purchaser thereunder, contain the following financial covenants: a maximum leverage ratio (as defined in the agreements) of 3.50 to 1.00 and a minimum ratio of earnings before interest, income tax, depreciation, and amortization (“EBITDA”) (as defined in the agreements) to interest expense of 3.00 to 1.00. The Company may elect to increase the maximum permitted leverage ratio to 4.00 to 1.00, following certain acquisitions, for four full fiscal quarters (plus the fiscal quarter in which the acquisition takes place). As permitted in the Credit Agreement, L/G Facility Agreement, and Shelf Agreement, following the acquisition of Linxis on October 6, 2022, the Company plans to elect to increase the maximum permitted leverage ratio to 4.00 to 1.00 for the quarter ended December 31, 2022, and for the four succeeding quarters. The obligations under the Credit Agreement, L/G Facility Agreement and the Shelf Agreement are unsecured. All obligations of the Company arising under the Credit Agreement, the L/G Facility Agreement, the $100.0 4.6% Series A unsecured notes (“Series A Notes”), the $400.0 of senior unsecured notes due June 2025 (the “2020 Notes”), the $375.0 of senior unsecured notes due September 2026 (the “2019 Notes”), and the $350.0 of senior unsecured notes due March 2031 (the “2021 Notes”), are fully and unconditionally, jointly and severally, guaranteed by certain of the Company’s domestic subsidiaries. As of December 31, 2022, Hillenbrand was in compliance with all covenants contained in the foregoing agreements and credit instruments and there were no events of default.

Retirement Benefits

Retirement Benefits	3 Months Ended
	Dec. 31, 2022
Retirement Benefits [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, 2022 2021 2022 2021 Service costs $ — $ — $ 0.5 $ 0.5 Interest costs 2.8 1.5 0.9 0.2 Expected return on plan assets (3.4) (2.7) (0.3) (0.2) Amortization of net loss (gain) 0.1 0.4 (0.2) 0.6 Net periodic pension (benefit) cost $ (0.5) $ (0.8) $ 0.9 $ 1.1 Defined Contribution Plans

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rates for the three months ended December 31, 2022 and 2021 were 7.9% and 37.5%, respectively. The decrease in the effective tax rate was primarily driven by the recognition of discrete tax benefits resulting from the approval of the incentive tax rate for certain operations located in China, equity compensation, and the impact of tax loss carryforwards within the Molding Technology Solutions reportable operating segment on the net domestic taxes on foreign earnings, partially offset by the revaluation of deferred tax balances as a result of foreign currency fluctuations.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per shareThe 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. Potential dilutive effects, representing approximately 400,000 shares at both December 31, 2022 and 2021, 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 2022 2021 Income from continuing operations $ 26.8 $ 22.2 Less: Net income attributable to noncontrolling interests 2.3 1.1 Income from continuing operations attributable to Hillenbrand $ 24.5 $ 21.1 Weighted-average shares outstanding (basic - in millions) 69.4 72.7 Effect of dilutive stock options and other unvested equity awards (in millions) 0.4 0.8 Weighted-average shares outstanding (diluted - in millions) 69.8 73.5 Basic earnings per share from continuing operations attributable to Hillenbrand $ 0.36 $ 0.29 Diluted earnings per share from continuing operations attributable to Hillenbrand $ 0.35 $ 0.29 Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions) 0.5 —

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	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 Translation (1) Net Total Noncontrolling Total Balance at September 30, 2022 $ (32.8) $ (113.7) $ (9.1) $ (155.6) Other comprehensive income (loss) before reclassifications: Before tax amount — 43.2 4.7 47.9 $ (0.2) $ 47.7 Tax expense — — (1.3) (1.3) — (1.3) After tax amount — 43.2 3.4 46.6 (0.2) 46.4 Amounts reclassified from accumulated other comprehensive loss (2) (0.2) — 0.3 0.1 — 0.1 Net current period other comprehensive (loss) income (0.2) 43.2 3.7 46.7 $ (0.2) $ 46.5 Balance at December 31, 2022 $ (33.0) $ (70.5) $ (5.4) $ (108.9) (1) Includes gain and losses on intra-entity foreign currency transactions that are of a long-term investment nature. (2) Amounts are net of tax. Pension and Currency Translation (1) Net Total Noncontrolling Total Balance at September 30, 2021 $ (49.2) $ 13.1 $ (10.2) $ (46.3) Other comprehensive income (loss) before reclassifications: Before tax amount — 2.5 0.4 2.9 $ (0.1) $ 2.8 Tax expense — — (0.1) (0.1) — (0.1) After tax amount — 2.5 0.3 2.8 (0.1) 2.7 Amounts reclassified from accumulated other comprehensive loss (2) 0.7 — 0.4 1.1 — 1.1 Net current period other comprehensive income (loss) 0.7 2.5 0.7 3.9 $ (0.1) $ 3.8 Balance at December 31, 2021 $ (48.5) $ 15.6 $ (9.5) $ (42.4) (1) Includes gains and losses on intra-foreign currency transactions that are of a long-term investment nature. (2) Amounts are net of tax. Reclassifications out of accumulated other comprehensive loss include: Three Months Ended December 31, 2022 Amortization of Pension and (1) (Gain) Loss on Net Gain Prior Service Costs Derivative Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ (0.1) $ (0.1) Cost of goods sold — — (0.1) (0.1) Other income, net (0.1) — 0.5 0.4 Total before tax $ (0.1) $ — $ 0.3 $ 0.2 Tax expense (0.1) Total reclassifications for the period, net of tax $ 0.1 (1) These accumulated other comprehensive loss components are included in the computation of net periodic pension (benefit) cost (see Note 10). Three Months Ended December 31, 2021 Amortization of Pension and (1) (Gain) Loss on Net Loss Prior Service Costs Derivative Total Affected Line in the Consolidated Statement of Operations: Cost of goods sold $ — $ — $ (0.2) $ (0.2) Other income, net 0.9 — 0.6 1.5 Total before tax $ 0.9 $ — $ 0.4 $ 1.3 Tax expense (0.2) Total reclassifications for the period, net of tax $ 1.1 (1) These accumulated other comprehensive loss components are included in the computation of net periodic pension (benefit) cost (see Note 10).

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Dec. 31, 2022
Compensation Related Costs [Abstract]
Share-Based Compensation	Share-Based Compensation Three Months Ended 2022 2021 Share-based compensation costs $ 4.6 $ 5.3 Less impact of income taxes 1.1 1.3 Share-based compensation costs, net of tax $ 3.5 $ 4.0 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, as well as time-based awards. 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 stock index. 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, 2022, the Company made the following grants: Number of Time-based stock awards 225,740 Performance-based stock awards (maximum that can be earned) 363,580 The Company’s time-based stock awards and performance-based stock awards granted during the three months ended December 31, 2022, had weighted-average grant date fair values of $51.32 and $67.41, respectively. Included in the performance-based stock awards granted during the three months ended December 31, 2022 are 214,566 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, 2022
Other Nonoperating Income (Expense) [Abstract]
Other Income, Net	Other Income, Net Three Months Ended 2022 2021 Interest income $ (1.8) $ (0.9) Foreign currency exchange loss, net — 0.9 Other, net (1.1) (0.4) Other income, net $ (2.9) $ (0.4)

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2022
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, antitrust, patent infringement, business practices, commercial transactions, product and general liability, workers’ compensation, auto liability, employment-related, and other matters. The ultimate outcome of any claims, lawsuits, and proceedings 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 often 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 when payment is considered probable and are based upon advice from internal and external counsel and historical settlement information for such claims. 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, 2022
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. See the section below titled “Valuation techniques” for further discussion of how Hillenbrand determines fair value for investments. Carrying Value at December 31, 2022 Fair Value at December 31, 2022 Using Inputs Considered as: Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 193.9 $ 193.9 $ — $ — Restricted cash 1.0 1.0 — — Cash and cash equivalents held for sale 0.9 0.9 — — Investments in rabbi trust 3.0 3.0 — — Derivative instruments 3.0 — 3.0 — Liabilities: The Facility 484.6 — 484.6 — Term loan 200.0 — 200.0 — 2021 Notes 350.0 288.0 — — 2020 Notes 400.0 399.9 — — 2019 Notes 374.7 360.7 — — Series A Notes 100.0 — 96.3 — Derivative instruments 3.1 — 3.1 — Carrying Value at September 30, 2022 Fair Value at September 30, 2022 Using Inputs Considered as: Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 232.2 $ 232.2 $ — $ — Restricted cash 3.5 3.5 — — Cash and cash equivalents held for sale 1.9 1.9 — — Investments in rabbi trust 2.4 2.4 — — Derivative instruments 2.6 — 2.6 — Liabilities: The Facility 6.7 — 6.7 — 2021 Notes 350.0 268.7 — — 2020 Notes 400.0 394.5 — — 2019 Notes 374.7 349.6 — — Series A Notes 100.0 — 97.6 — Derivative instruments 8.0 — 8.0 — Valuation techniques • Cash and cash equivalents, restricted cash, cash and cash equivalents held for sale, 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 values of the Facility, term loan and 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 Facility, term loan, or Series A Notes. • The fair values of the 2021 Notes, 2020 Notes, and 2019 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 $222.5 and $156.0 at December 31, 2022 and September 30, 2022, respectively. The derivatives are recorded at fair value primarily in other current assets and other current liabilities in the Consolidated Balance Sheets.

Segment and Geographical Inform

Segment and Geographical Information	3 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment and Geographical Information	Segment and Geographical Information As a result of classifying the Batesville reportable operating segment as a discontinued operation, Hillenbrand is now composed of two reportable operating segments: Advanced Process Solutions and Molding Technology Solutions. The Company’s reportable 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 operating segment. These services include treasury management, human resources, legal, business development, information technology, tax compliance, global supply management, sustainability, and other public company support functions such as internal audit, investor relations, and financial reporting. 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 operating segments. The following tables present financial information for the Company’s reportable operating segments and significant geographical locations: Three Months Ended December 31, 2022 2021 Net revenue Advanced Process Solutions $ 412.8 $ 317.1 Molding Technology Solutions 242.9 248.8 Total $ 655.7 $ 565.9 Adjusted EBITDA (1) Advanced Process Solutions $ 71.3 $ 54.6 Molding Technology Solutions 43.1 51.8 Corporate (13.1) (16.9) Net revenue (2) United States $ 232.9 $ 162.9 China 120.2 148.7 India 52.4 50.9 Germany 44.5 34.2 All other countries 205.7 169.2 Total $ 655.7 $ 565.9 (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. (2) The Company attributes net revenue to a geography based upon the location of the end customer. December 31, September 30, Total assets Advanced Process Solutions $ 2,493.8 $ 1,494.2 Molding Technology Solutions 2,046.7 2,052.6 Corporate 107.4 99.3 Held for sale assets 238.0 221.4 Total $ 4,885.9 $ 3,867.5 Tangible long-lived assets, net United States $ 95.6 $ 79.3 Germany 129.9 104.1 China 41.8 42.2 India 39.4 40.7 All other countries 84.5 53.5 Total $ 391.2 $ 319.8 The following schedule reconciles reportable operating segment adjusted EBITDA to consolidated net income: Three Months Ended 2022 2021 Adjusted EBITDA: Advanced Process Solutions $ 71.3 $ 54.6 Molding Technology Solutions 43.1 51.8 Corporate (13.1) (16.9) Add: Income from discontinued operations (net of income tax expense) 21.0 27.9 Less: Interest income (1.8) (0.9) Interest expense 23.3 17.9 Income tax expense 2.3 13.3 Depreciation and amortization 31.0 25.6 Business acquisition, disposition, and integration costs 10.7 7.6 Inventory step up charges 8.0 — Restructuring and restructuring-related charges 1.0 0.7 Loss on divestiture — 3.1 Consolidated net income $ 47.8 $ 50.1

Restructuring

Restructuring	3 Months Ended
	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring The following schedule details the restructuring charges by reportable operating segment and the classification of those charges in the Consolidated Statements of Operations. Three Months Ended December 31, 2022 Three Months Ended December 31, 2021 Cost of goods sold Operating expenses Total Cost of goods sold Operating expenses Total Advanced Process Solutions $ 0.1 $ 1.0 $ 1.1 $ 0.9 $ 0.2 $ 1.1 Molding Technology Solutions — — — 0.1 — 0.1 Corporate — — — — — — Total $ 0.1 $ 1.0 $ 1.1 $ 1.0 $ 0.2 $ 1.2

Subsequent Events

Subsequent Events	3 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Revenue	Net revenue includes gross revenue less sales discounts and sales incentives, 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.
Revenue Recognition, Deferred Revenue	Contract balances The balance in receivables from long-term manufacturing contracts at December 31, 2022 and September 30, 2022, was $270.3 and $213.3, 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, 2022 and September 30, 2022, was $392.3 and $290.3, respectively, and consists primarily of cash payments received or due in advance of satisfying performance obligations. The net revenue recognized for the three months ended December 31, 2022 and 2021, related to liabilities from long-term manufacturing contracts and advances as of September 30, 2022 and 2021, was $91.4 and $98.7, respectively.

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition (Tables)	3 Months Ended
	Dec. 31, 2022
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, 2022 Three Months Ended December 31, 2021 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total End market Plastics $ 240.8 $ — $ 240.8 $ 235.0 $ — $ 235.0 Automotive — 49.2 49.2 — 49.6 49.6 Chemicals 24.7 — 24.7 24.2 — 24.2 Consumer goods — 33.1 33.1 — 39.7 39.7 Food and pharmaceuticals 103.8 — 103.8 21.8 — 21.8 Custom molders — 26.6 26.6 — 38.3 38.3 Packaging — 28.6 28.6 — 35.2 35.2 Construction — 31.1 31.1 — 24.6 24.6 Minerals 13.8 — 13.8 12.1 — 12.1 Electronics — 15.9 15.9 — 14.3 14.3 Medical — 16.5 16.5 — 20.0 20.0 Other industrial 29.7 41.9 71.6 24.0 27.1 51.1 Total $ 412.8 $ 242.9 $ 655.7 $ 317.1 $ 248.8 $ 565.9 The following tables present net revenue by geography: Three Months Ended December 31, 2022 Three Months Ended December 31, 2021 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Geography Americas $ 138.5 $ 136.2 $ 274.7 $ 63.6 $ 129.1 $ 192.7 Asia 148.7 68.2 216.9 168.6 81.6 250.2 Europe, the Middle East, and Africa 125.6 38.5 164.1 84.9 38.1 123.0 Total $ 412.8 $ 242.9 $ 655.7 $ 317.1 $ 248.8 $ 565.9 The following tables present net revenue by products and services: Three Months Ended December 31, 2022 Three Months Ended December 31, 2021 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Products and services Equipment $ 305.3 $ 162.1 $ 467.4 $ 231.5 $ 171.8 $ 403.3 Parts and services 107.5 64.6 172.1 85.6 60.3 145.9 Other — 16.2 16.2 — 16.7 16.7 Total $ 412.8 $ 242.9 $ 655.7 $ 317.1 $ 248.8 $ 565.9 The following tables present net revenue by timing of transfer: Three Months Ended December 31, 2022 Three Months Ended December 31, 2021 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Timing of transfer Point in time $ 220.2 $ 230.0 $ 450.2 $ 135.0 $ 246.1 $ 381.1 Over time 192.6 12.9 205.5 182.1 2.7 184.8 Total $ 412.8 $ 242.9 $ 655.7 $ 317.1 $ 248.8 $ 565.9

Divestitures (Tables)

Divestitures (Tables)	3 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following is a summary of the major categories of assets and liabilities held for sale at: December 31, 2022 September 30, 2022 Cash and cash equivalents $ 0.9 $ 1.9 Trade receivables, net 67.9 59.5 Inventories, net 49.6 48.2 Property, plant and equipment, net 51.3 — Operating lease right-of-use assets, net 39.7 — Intangible assets, net 2.7 — Goodwill 8.3 — Other assets 17.6 6.5 Current assets held for sale $ 238.0 $ 116.1 Property, plant and equipment, net $ — 49.1 Operating lease right-of-use assets, net — 35.6 Intangible assets, net — 2.7 Goodwill — 8.3 Long-term assets — 9.6 Long-term assets held for sale $ — $ 105.3 Trade accounts payable $ 58.6 $ 62.0 Accrued compensation 5.9 13.6 Operating lease liabilities 39.0 13.0 Other liabilities 27.1 25.2 Current liabilities held for sale $ 130.6 $ 113.8 Operating lease liabilities $ — 22.1 Other liabilities — 3.7 Long-term liabilities held for sale $ — $ 25.8 Three Months Ended December 31, 2022 2021 Net revenue $ 156.0 $ 162.5 Cost of goods sold 103.7 107.0 Gross profit 52.3 55.5 Operating expenses 19.6 16.1 Other expense, net 1.3 1.5 Income from discontinued operations before income taxes 31.4 37.9 Income tax expense 10.4 10.0 Income from discontinued operations (net of income tax expense) $ 21.0 $ 27.9

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Schedule of Business Acquisition	Based on current fair value estimates and the timing of the close of the transaction, the preliminary purchase price for Peerless has been allocated to individual assets acquired and liabilities assumed as of the acquisition date: December 1, 2022 Assets acquired: Current assets $ 16.2 Property, plant, and equipment 2.3 Goodwill 50.9 Total assets acquired 69.4 Liabilities assumed: Current liabilities 9.5 Total liabilities assumed 9.5 Net assets acquired $ 59.9 October 6, 2022 Assets acquired: Cash and cash equivalents $ 22.9 Trade receivables 31.5 Receivables from long-term manufacturing contracts 12.1 Inventories 80.1 Prepaid expenses and other current assets 11.7 Property, plant, and equipment 36.7 Operating lease right-of-use assets 15.0 Intangible assets 243.8 Goodwill 332.0 Other noncurrent assets 1.0 Total assets acquired 786.8 Liabilities assumed: Trade accounts payable 18.9 Liabilities from long-term manufacturing contracts 52.0 Accrued compensation 10.3 Other current liabilities 19.6 Accrued pension and postretirement healthcare 3.9 Operating lease liabilities 9.4 Deferred income taxes 77.0 Other noncurrent liabilities 0.3 Total liabilities assumed 191.4 Net assets acquired 595.4 Less: Fair value of Linxis noncontrolling interest (1) (4.6) Purchase price consideration $ 590.8 (1) While the Company acquired all issued and outstanding securities of Linxis in the acquisition, a noncontrolling interest in a single subsidiary of Linxis was held by current and former members of that company’s management as of the acquisition date. Three Months Ended December 31, 2022 Net revenue $ 81.0 Loss from continuing operations before income taxes (0.1) August 31, 2022 (as initially reported) Measurement Period Adjustments August 31, 2022 (as adjusted) Assets acquired: Current assets $ 38.2 $ 2.4 $ 40.6 Property, plant, and equipment 4.7 2.3 7.0 Intangible assets — 22.6 22.6 Goodwill 69.3 (26.2) 43.1 Other assets 5.3 — 5.3 Total assets acquired 117.5 1.1 118.6 Liabilities assumed: Current liabilities 33.9 1.1 35.0 Other long-term liabilities 5.9 — 5.9 Total liabilities assumed 39.8 1.1 40.9 Net assets acquired $ 77.7 $ — $ 77.7
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The preliminary amounts allocated to intangible assets are as follows: Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 211.1 13 years Trade names 32.7 10 years Total intangible assets $ 243.8 The preliminary amounts allocated to intangible assets are as follows: Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 10.2 15 years Trade names 8.0 10 years Technology 4.4 7 years Total intangible assets $ 22.6
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, 2022 2021 Net revenue $ 661.5 $ 661.0 Income from continuing operations attributable to Hillenbrand 33.5 19.0 Income from continuing operations attributable to Hillenbrand — per share of common stock: Basic earnings per share from continuing operations $ 0.48 $ 0.26 Diluted earnings per share from continuing operations $ 0.48 $ 0.26

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Schedule of supplemental balance sheet information	December 31, September 30, Allowance for doubtful accounts $ 7.4 $ 6.4 Warranty reserves $ 27.6 $ 22.4 Accumulated depreciation on property, plant, and equipment $ 212.1 $ 197.6 Inventories, net: Raw materials and components $ 251.7 $ 210.1 Work in process 136.6 107.9 Finished goods 203.3 167.6 Total inventories, net $ 591.6 $ 485.6 The following table provides a reconciliation of cash, cash equivalents, restricted cash, and cash and cash equivalents held for sale reported within the Consolidated Balance Sheets that sum to the total of the same amounts shown in the Consolidated Statements of Cash Flows: December 31, 2022 December 31, 2021 Cash and cash equivalents $ 193.9 $ 446.3 Cash and cash equivalents classified as held for sale 0.9 1.1 Short-term restricted cash included in other current assets 1.0 0.8 Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows $ 195.8 $ 448.2

Leases (Tables)

Leases (Tables)	3 Months Ended
	Dec. 31, 2022
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, 2022 September 30, 2022 Operating lease right-of-use assets, net $ 106.0 $ 87.9 Other current liabilities 18.3 15.7 Operating lease liabilities 82.3 70.5 Total operating lease liabilities $ 100.6 $ 86.2 Weighted-average remaining lease term (in years) 7.6 7.9 Weighted-average discount rate 2.9 % 2.7 %
Schedule of Operating Lease Liability Maturities	As of December 31, 2022, the maturities of the Company’s operating lease liabilities were as follows: 2023 (excluding the three months ended December 31, 2022) $ 16.2 2024 17.4 2025 14.9 2026 12.5 2027 10.8 Thereafter 39.4 Total lease payments 111.2 Less: imputed interest (10.6) Total present value of lease payments $ 100.6
Schedule of Supplemental Statement of Cash Flow Information	Supplemental Consolidated Statements of Cash Flow information related to the Company’s operating leases is as follows: Three Months Ended December 31, 2022 2021 Cash paid for amounts included in the measurement of operating lease liabilities $ 5.6 $ 5.2 Operating lease right-of-use assets, net obtained in exchange for new operating lease liabilities 1.8 0.4 Operating leases acquired in acquisitions 15.0 —

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	The following table summarizes the carrying amounts and related accumulated amortization for intangible assets as of: December 31, 2022 September 30, 2022 Cost Accumulated Cost Accumulated Finite-lived assets: Customer relationships $ 998.7 $ (244.0) $ 739.6 $ (221.1) Trade names 43.6 (1.1) — — Technology, including patents 140.8 (74.0) 132.9 (68.4) Software 38.1 (28.9) 34.4 (27.0) 1,221.2 (348.0) 906.9 (316.5) Indefinite-lived assets: Trade names 221.9 — 217.6 — Total $ 1,443.1 $ (348.0) $ 1,124.5 $ (316.5)
Schedule of Goodwill	The following table summarizes the changes in the Company’s goodwill, by reportable operating segment, for the three months ended December 31, 2022: Advanced Process Solutions Molding Technology Solutions Total Balance as of September 30, 2022 $ 516.0 $ 635.1 $ 1,151.1 Acquisitions (1) 382.9 — 382.9 Acquisition measurement period adjustments (25.8) — (25.8) Foreign currency adjustments 44.6 9.9 54.5 Balance as of December 31, 2022 $ 917.7 $ 645.0 $ 1,562.7

Financing Agreements (Tables)

Financing Agreements (Tables)	3 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of borrowings under financing agreements	The following table summarizes Hillenbrand’s current and long-term debt as of: December 31, September 30, $1,000.0 revolving credit facility (excluding outstanding letters of credit) $ 484.6 $ 6.7 $200.0 term loan 200.0 — $400.0 senior unsecured notes (1) 397.2 397.1 $375.0 senior unsecured notes, net of discount (2) 372.4 372.2 $350.0 senior unsecured notes (3) 346.3 346.2 $100.0 Series A Notes (4) 99.9 99.9 Total debt 1,900.4 1,222.1 Less: current portion 10.0 — Total long-term debt $ 1,890.4 $ 1,222.1 (1) Includes unamortized debt issuance costs of $2.8 and $2.9 at December 31, 2022 and September 30, 2022, respectively. (2) Includes unamortized debt issuance costs of $2.3 and $2.5 at December 31, 2022 and September 30, 2022, respectively. (3) Includes unamortized debt issuance costs of $3.7 and $3.8 at December 31, 2022 and September 30, 2022, respectively.

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	Dec. 31, 2022
Retirement Benefits [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, 2022 2021 2022 2021 Service costs $ — $ — $ 0.5 $ 0.5 Interest costs 2.8 1.5 0.9 0.2 Expected return on plan assets (3.4) (2.7) (0.3) (0.2) Amortization of net loss (gain) 0.1 0.4 (0.2) 0.6 Net periodic pension (benefit) cost $ (0.5) $ (0.8) $ 0.9 $ 1.1

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	Three Months Ended 2022 2021 Income from continuing operations $ 26.8 $ 22.2 Less: Net income attributable to noncontrolling interests 2.3 1.1 Income from continuing operations attributable to Hillenbrand $ 24.5 $ 21.1 Weighted-average shares outstanding (basic - in millions) 69.4 72.7 Effect of dilutive stock options and other unvested equity awards (in millions) 0.4 0.8 Weighted-average shares outstanding (diluted - in millions) 69.8 73.5 Basic earnings per share from continuing operations attributable to Hillenbrand $ 0.36 $ 0.29 Diluted earnings per share from continuing operations attributable to Hillenbrand $ 0.35 $ 0.29 Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions) 0.5 —

Other Comprehensive Income (Los

Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of changes in accumulated other comprehensive income (loss) by component	The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive loss: Pension and Currency Translation (1) Net Total Noncontrolling Total Balance at September 30, 2022 $ (32.8) $ (113.7) $ (9.1) $ (155.6) Other comprehensive income (loss) before reclassifications: Before tax amount — 43.2 4.7 47.9 $ (0.2) $ 47.7 Tax expense — — (1.3) (1.3) — (1.3) After tax amount — 43.2 3.4 46.6 (0.2) 46.4 Amounts reclassified from accumulated other comprehensive loss (2) (0.2) — 0.3 0.1 — 0.1 Net current period other comprehensive (loss) income (0.2) 43.2 3.7 46.7 $ (0.2) $ 46.5 Balance at December 31, 2022 $ (33.0) $ (70.5) $ (5.4) $ (108.9) (1) Includes gain and losses on intra-entity foreign currency transactions that are of a long-term investment nature. (2) Amounts are net of tax. Pension and Currency Translation (1) Net Total Noncontrolling Total Balance at September 30, 2021 $ (49.2) $ 13.1 $ (10.2) $ (46.3) Other comprehensive income (loss) before reclassifications: Before tax amount — 2.5 0.4 2.9 $ (0.1) $ 2.8 Tax expense — — (0.1) (0.1) — (0.1) After tax amount — 2.5 0.3 2.8 (0.1) 2.7 Amounts reclassified from accumulated other comprehensive loss (2) 0.7 — 0.4 1.1 — 1.1 Net current period other comprehensive income (loss) 0.7 2.5 0.7 3.9 $ (0.1) $ 3.8 Balance at December 31, 2021 $ (48.5) $ 15.6 $ (9.5) $ (42.4) (1) Includes gains and losses on intra-foreign currency transactions that are of a long-term investment nature. (2) Amounts are net of tax.
Schedule of reclassifications of AOCI	Reclassifications out of accumulated other comprehensive loss include: Three Months Ended December 31, 2022 Amortization of Pension and (1) (Gain) Loss on Net Gain Prior Service Costs Derivative Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ (0.1) $ (0.1) Cost of goods sold — — (0.1) (0.1) Other income, net (0.1) — 0.5 0.4 Total before tax $ (0.1) $ — $ 0.3 $ 0.2 Tax expense (0.1) Total reclassifications for the period, net of tax $ 0.1 (1) These accumulated other comprehensive loss components are included in the computation of net periodic pension (benefit) cost (see Note 10). Three Months Ended December 31, 2021 Amortization of Pension and (1) (Gain) Loss on Net Loss Prior Service Costs Derivative Total Affected Line in the Consolidated Statement of Operations: Cost of goods sold $ — $ — $ (0.2) $ (0.2) Other income, net 0.9 — 0.6 1.5 Total before tax $ 0.9 $ — $ 0.4 $ 1.3 Tax expense (0.2) Total reclassifications for the period, net of tax $ 1.1 (1) These accumulated other comprehensive loss components are included in the computation of net periodic pension (benefit) cost (see Note 10).

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2022
Compensation Related Costs [Abstract]
Schedule of stock-based compensation costs	Three Months Ended 2022 2021 Share-based compensation costs $ 4.6 $ 5.3 Less impact of income taxes 1.1 1.3 Share-based compensation costs, net of tax $ 3.5 $ 4.0
Schedule of stock-based awards granted in the period	During the three months ended December 31, 2022, the Company made the following grants: Number of Time-based stock awards 225,740 Performance-based stock awards (maximum that can be earned) 363,580

Other Income, Net (Tables)

Other Income, Net (Tables)	3 Months Ended
	Dec. 31, 2022
Other Nonoperating Income (Expense) [Abstract]
Other income and expense	Three Months Ended 2022 2021 Interest income $ (1.8) $ (0.9) Foreign currency exchange loss, net — 0.9 Other, net (1.1) (0.4) Other income, net $ (2.9) $ (0.4)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2022
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, 2022 Fair Value at December 31, 2022 Using Inputs Considered as: Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 193.9 $ 193.9 $ — $ — Restricted cash 1.0 1.0 — — Cash and cash equivalents held for sale 0.9 0.9 — — Investments in rabbi trust 3.0 3.0 — — Derivative instruments 3.0 — 3.0 — Liabilities: The Facility 484.6 — 484.6 — Term loan 200.0 — 200.0 — 2021 Notes 350.0 288.0 — — 2020 Notes 400.0 399.9 — — 2019 Notes 374.7 360.7 — — Series A Notes 100.0 — 96.3 — Derivative instruments 3.1 — 3.1 — Carrying Value at September 30, 2022 Fair Value at September 30, 2022 Using Inputs Considered as: Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 232.2 $ 232.2 $ — $ — Restricted cash 3.5 3.5 — — Cash and cash equivalents held for sale 1.9 1.9 — — Investments in rabbi trust 2.4 2.4 — — Derivative instruments 2.6 — 2.6 — Liabilities: The Facility 6.7 — 6.7 — 2021 Notes 350.0 268.7 — — 2020 Notes 400.0 394.5 — — 2019 Notes 374.7 349.6 — — Series A Notes 100.0 — 97.6 — Derivative instruments 8.0 — 8.0 —

Segment and Geographical Info_2

Segment and Geographical Information (Tables)	3 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of net revenue, adjusted EBITDA, and depreciation and amortization by segment and geographic location	The following tables present financial information for the Company’s reportable operating segments and significant geographical locations: Three Months Ended December 31, 2022 2021 Net revenue Advanced Process Solutions $ 412.8 $ 317.1 Molding Technology Solutions 242.9 248.8 Total $ 655.7 $ 565.9 Adjusted EBITDA (1) Advanced Process Solutions $ 71.3 $ 54.6 Molding Technology Solutions 43.1 51.8 Corporate (13.1) (16.9) Net revenue (2) United States $ 232.9 $ 162.9 China 120.2 148.7 India 52.4 50.9 Germany 44.5 34.2 All other countries 205.7 169.2 Total $ 655.7 $ 565.9 (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.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	December 31, September 30, Total assets Advanced Process Solutions $ 2,493.8 $ 1,494.2 Molding Technology Solutions 2,046.7 2,052.6 Corporate 107.4 99.3 Held for sale assets 238.0 221.4 Total $ 4,885.9 $ 3,867.5 Tangible long-lived assets, net United States $ 95.6 $ 79.3 Germany 129.9 104.1 China 41.8 42.2 India 39.4 40.7 All other countries 84.5 53.5 Total $ 391.2 $ 319.8
Schedule of reconciliation of segment adjusted EBITDA to consolidated net income	The following schedule reconciles reportable operating segment adjusted EBITDA to consolidated net income: Three Months Ended 2022 2021 Adjusted EBITDA: Advanced Process Solutions $ 71.3 $ 54.6 Molding Technology Solutions 43.1 51.8 Corporate (13.1) (16.9) Add: Income from discontinued operations (net of income tax expense) 21.0 27.9 Less: Interest income (1.8) (0.9) Interest expense 23.3 17.9 Income tax expense 2.3 13.3 Depreciation and amortization 31.0 25.6 Business acquisition, disposition, and integration costs 10.7 7.6 Inventory step up charges 8.0 — Restructuring and restructuring-related charges 1.0 0.7 Loss on divestiture — 3.1 Consolidated net income $ 47.8 $ 50.1

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following schedule details the restructuring charges by reportable operating segment and the classification of those charges in the Consolidated Statements of Operations. Three Months Ended December 31, 2022 Three Months Ended December 31, 2021 Cost of goods sold Operating expenses Total Cost of goods sold Operating expenses Total Advanced Process Solutions $ 0.1 $ 1.0 $ 1.1 $ 0.9 $ 0.2 $ 1.1 Molding Technology Solutions — — — 0.1 — 0.1 Corporate — — — — — — Total $ 0.1 $ 1.0 $ 1.1 $ 1.0 $ 0.2 $ 1.2

Background and Basis of Prese_2

Background and Basis of Presentation - Narrative (Details) $ in Millions			3 Months Ended
	Feb. 01, 2023 USD ($)	Dec. 15, 2022 USD ($)	Dec. 31, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments | segment			2
Acquired entity subsidiary investments owned percent			100%
Batesville | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total transaction value		$ 761.5
Consideration from sale of segment, subordinated note		$ 11.5
Batesville | Discontinued Operations | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business segment	$ 698

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Oct. 01, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Stockholders' equity	$ 1,192.8	$ 1,108	$ 1,254.6	$ 1,232.2
Retained Earnings
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Stockholders' equity	842	812	699.1	666.2
Retained Earnings | Accounting Standards Update 2018-02 [Member] | Cumulative Effect, Period of Adoption, Adjustment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Stockholders' equity					$ 6
Accumulated Other Comprehensive Loss
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Stockholders' equity	$ (108.9)	$ (155.6)	$ (42.4)	$ (46.3)

Revenue Recognition Narrative (

Revenue Recognition Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Receivables from long-term manufacturing contracts, net	$ 270.3		$ 213.3
Liabilities from long-term manufacturing contracts and advances	392.3		$ 290.3
Revenue recognized on long-term manufacturing contracts and advances liabilities	$ 91.4	$ 98.7

Revenue Recognition Revenue Rem

Revenue Recognition Revenue Remaining Performance Obligation Narrative (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 $ in Millions	Dec. 31, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Amount	$ 1,959.3
Remaining performance obligation expected to be recognized in the given period (as a percent)	79%

Revenue Recognition Revenue by

Revenue Recognition Revenue by End Market (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 655.7	$ 565.9
Plastics
Disaggregation of Revenue [Line Items]
Net revenue	240.8	235
Automotive
Disaggregation of Revenue [Line Items]
Net revenue	49.2	49.6
Chemicals
Disaggregation of Revenue [Line Items]
Net revenue	24.7	24.2
Consumer goods
Disaggregation of Revenue [Line Items]
Net revenue	33.1	39.7
Food and pharmaceuticals
Disaggregation of Revenue [Line Items]
Net revenue	103.8	21.8
Custom molders
Disaggregation of Revenue [Line Items]
Net revenue	26.6	38.3
Construction
Disaggregation of Revenue [Line Items]
Net revenue	28.6	35.2
Packaging
Disaggregation of Revenue [Line Items]
Net revenue	31.1	24.6
Minerals and mining
Disaggregation of Revenue [Line Items]
Net revenue	13.8	12.1
Electronics
Disaggregation of Revenue [Line Items]
Net revenue	15.9	14.3
Medical
Disaggregation of Revenue [Line Items]
Net revenue	16.5	20
Other industrial
Disaggregation of Revenue [Line Items]
Net revenue	71.6	51.1
Advanced Process Solutions
Disaggregation of Revenue [Line Items]
Net revenue	412.8	317.1
Advanced Process Solutions | Plastics
Disaggregation of Revenue [Line Items]
Net revenue	240.8	235
Advanced Process Solutions | Automotive
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Advanced Process Solutions | Chemicals
Disaggregation of Revenue [Line Items]
Net revenue	24.7	24.2
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	103.8	21.8
Advanced Process Solutions | Custom molders
Disaggregation of Revenue [Line Items]
Net revenue	0	0
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	13.8	12.1
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	0
Advanced Process Solutions | Other industrial
Disaggregation of Revenue [Line Items]
Net revenue	29.7	24
Molding Technology Solutions
Disaggregation of Revenue [Line Items]
Net revenue	242.9	248.8
Molding Technology Solutions | Plastics
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions | Automotive
Disaggregation of Revenue [Line Items]
Net revenue	49.2	49.6
Molding Technology Solutions | Chemicals
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions | Consumer goods
Disaggregation of Revenue [Line Items]
Net revenue	33.1	39.7
Molding Technology Solutions | Food and pharmaceuticals
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions | Custom molders
Disaggregation of Revenue [Line Items]
Net revenue	26.6	38.3
Molding Technology Solutions | Construction
Disaggregation of Revenue [Line Items]
Net revenue	28.6	35.2
Molding Technology Solutions | Packaging
Disaggregation of Revenue [Line Items]
Net revenue	31.1	24.6
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	15.9	14.3
Molding Technology Solutions | Medical
Disaggregation of Revenue [Line Items]
Net revenue	16.5	20
Molding Technology Solutions | Other industrial
Disaggregation of Revenue [Line Items]
Net revenue	$ 41.9	$ 27.1

Revenue Recognition by Geograph

Revenue Recognition by Geographic Markets (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 655.7	$ 565.9
Americas
Disaggregation of Revenue [Line Items]
Net revenue	274.7	192.7
Asia
Disaggregation of Revenue [Line Items]
Net revenue	216.9	250.2
Europe, the Middle East, and Africa
Disaggregation of Revenue [Line Items]
Net revenue	164.1	123
Advanced Process Solutions
Disaggregation of Revenue [Line Items]
Net revenue	412.8	317.1
Advanced Process Solutions | Americas
Disaggregation of Revenue [Line Items]
Net revenue	138.5	63.6
Advanced Process Solutions | Asia
Disaggregation of Revenue [Line Items]
Net revenue	148.7	168.6
Advanced Process Solutions | Europe, the Middle East, and Africa
Disaggregation of Revenue [Line Items]
Net revenue	125.6	84.9
Molding Technology Solutions
Disaggregation of Revenue [Line Items]
Net revenue	242.9	248.8
Molding Technology Solutions | Americas
Disaggregation of Revenue [Line Items]
Net revenue	136.2	129.1
Molding Technology Solutions | Asia
Disaggregation of Revenue [Line Items]
Net revenue	68.2	81.6
Molding Technology Solutions | Europe, the Middle East, and Africa
Disaggregation of Revenue [Line Items]
Net revenue	$ 38.5	$ 38.1

Revenue Recognition Timing of T

Revenue Recognition Timing of Transfer (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 655.7	$ 565.9
Point in time
Disaggregation of Revenue [Line Items]
Net revenue	450.2	381.1
Over time
Disaggregation of Revenue [Line Items]
Net revenue	205.5	184.8
Advanced Process Solutions
Disaggregation of Revenue [Line Items]
Net revenue	412.8	317.1
Advanced Process Solutions | Point in time
Disaggregation of Revenue [Line Items]
Net revenue	220.2	135
Advanced Process Solutions | Over time
Disaggregation of Revenue [Line Items]
Net revenue	192.6	182.1
Molding Technology Solutions
Disaggregation of Revenue [Line Items]
Net revenue	242.9	248.8
Molding Technology Solutions | Point in time
Disaggregation of Revenue [Line Items]
Net revenue	230	246.1
Molding Technology Solutions | Over time
Disaggregation of Revenue [Line Items]
Net revenue	$ 12.9	$ 2.7

Revenue Recognition Product and

Revenue Recognition Product and Services (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 655.7	$ 565.9
Equipment
Disaggregation of Revenue [Line Items]
Net revenue	467.4	403.3
Parts and services
Disaggregation of Revenue [Line Items]
Net revenue	172.1	145.9
Other
Disaggregation of Revenue [Line Items]
Net revenue	16.2	16.7
Advanced Process Solutions
Disaggregation of Revenue [Line Items]
Net revenue	412.8	317.1
Advanced Process Solutions | Equipment
Disaggregation of Revenue [Line Items]
Net revenue	305.3	231.5
Advanced Process Solutions | Parts and services
Disaggregation of Revenue [Line Items]
Net revenue	107.5	85.6
Advanced Process Solutions | Other
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions
Disaggregation of Revenue [Line Items]
Net revenue	242.9	248.8
Molding Technology Solutions | Equipment [Member]
Disaggregation of Revenue [Line Items]
Net revenue		171.8
Molding Technology Solutions | Equipment
Disaggregation of Revenue [Line Items]
Net revenue	162.1
Molding Technology Solutions | Parts and services
Disaggregation of Revenue [Line Items]
Net revenue	64.6	60.3
Molding Technology Solutions | Other
Disaggregation of Revenue [Line Items]
Net revenue	$ 16.2	$ 16.7

Divestitures - Summary of Major

Divestitures - Summary of Major Categories of Assets and Liabilities Held for Sale (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Disposal Group, Including Discontinued Operation, Assets, Current [Abstract]
Cash and cash equivalents	$ 0.9	$ 1.9	$ 1.1
Current assets held for sale	238	116.1
Disposal Group, Including Discontinued Operation, Assets, Noncurrent [Abstract]
Long-term assets held for sale	0	105.3
Disposal Group, Including Discontinued Operation, Liabilities, Current [Abstract]
Current liabilities held for sale	130.6	113.8
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent [Abstract]
Long-term liabilities held for sale	0	25.8
Discontinued Operations, Held-for-sale
Disposal Group, Including Discontinued Operation, Assets, Current [Abstract]
Cash and cash equivalents	0.9	1.9
Trade receivables, net	67.9	59.5
Inventories, net	49.6	48.2
Property, plant and equipment, net	51.3	0
Operating lease right-of-use assets, net	39.7	0
Intangible assets, net	2.7	0
Goodwill	8.3	0
Other assets	17.6	6.5
Current assets held for sale	238	116.1
Disposal Group, Including Discontinued Operation, Assets, Noncurrent [Abstract]
Property, plant and equipment, net	0	49.1
Operating lease right-of-use assets, net	0	35.6
Intangible assets, net	0	2.7
Goodwill	0	8.3
Long-term assets	0	9.6
Long-term assets held for sale	0	105.3
Disposal Group, Including Discontinued Operation, Liabilities, Current [Abstract]
Trade accounts payable	58.6	62
Accrued compensation	5.9	13.6
Operating lease liabilities	39	13
Other liabilities	27.1	25.2
Current liabilities held for sale	130.6	113.8
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent [Abstract]
Operating lease liabilities	0	22.1
Other liabilities	0	3.7
Long-term liabilities held for sale	$ 0	$ 25.8

Divestitures - Narrative (Detai

Divestitures - Narrative (Details) - USD ($) $ in Millions		3 Months Ended
	Oct. 22, 2021	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain (loss)		$ 0	$ (3.1)
TerraSource Global
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Notes receivable	$ 25.6
Notes and loans receivable, term (in years)	5 years
Ownership interest retained after disposal, percent	49%
Total transaction value	$ 27.7
Pre-tax gain (loss)			3.1
Transaction costs			0.4
TerraSource Global | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Notes receivable				$ 27
Batesville | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Decrease in income before income taxes		$ 3.5	$ 0.3

Divestitures - Components of Am

Divestitures - Components of Amounts Reflected in the Consolidated Statements of Operations Related to Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations (net of income tax expense)	$ 21	$ 27.9
Discontinued Operations, Held-for-sale | Batesville
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue	156	162.5
Cost of goods sold	103.7	107
Gross profit	52.3	55.5
Operating expenses	19.6	16.1
Other expense, net	1.3	1.5
Income from discontinued operations before income taxes	31.4	37.9
Income tax expense	10.4	10
Income from discontinued operations (net of income tax expense)	$ 21	$ 27.9

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) € in Millions, $ in Millions	Dec. 01, 2022 USD ($)	Oct. 06, 2022 USD ($)	Oct. 06, 2022 EUR (€)	Aug. 31, 2022 USD ($)	Aug. 31, 2022 EUR (€)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 EUR (€)	Dec. 31, 2022 USD ($)	Oct. 06, 2022 EUR (€)	Sep. 30, 2022 USD ($)
Business Acquisition [Line Items]
Long-term debt								$ 1,900.4		$ 1,222.1
$1,000.0 revolving credit facility (excluding outstanding letters of credit)
Business Acquisition [Line Items]
Long-term debt								484.6		$ 6.7
Revolving Credit Facility
Business Acquisition [Line Items]
Long-term debt								1,000
Peerless Food Equipment
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 59.9
Acquisition expenses								1.2
Net assets acquired	$ 59.9
Linxis
Business Acquisition [Line Items]
Business combination, consideration transferred		$ 590.8
Acquisition expenses								0.9
Payments to acquire business, gross		590.8	€ 596.2
Enterprise value		566.8							€ 572
Intangible assets		$ 243.8
Weighted average cost of capital (as a percent)		12%	12%
Net assets acquired		$ 595.4
Herbold
Business Acquisition [Line Items]
Payments to acquire business, gross				$ 77.7	€ 77.5
Intangible assets				$ 0				22.6
Weighted average cost of capital (as a percent)				20%	20%
Net assets acquired				$ 77.7				$ 77.7
Gabler
Business Acquisition [Line Items]
Payments to acquire business, gross						$ 12.9	€ 12.6
Net assets acquired						$ 5.4

Acquisitions - Schedule of Aggr

Acquisitions - Schedule of Aggregate Purchase Price Consideration (Details) - USD ($)			3 Months Ended	4 Months Ended
	Dec. 01, 2022	Oct. 06, 2022	Dec. 31, 2022	Dec. 31, 2022	Sep. 30, 2022	Aug. 31, 2022
Business Acquisition [Line Items]
Goodwill			$ 1,562,700,000	$ 1,562,700,000	$ 1,151,100,000
Goodwill, Purchase Accounting Adjustments			(25,800,000)
Peerless Food Equipment
Business Acquisition [Line Items]
Current assets	$ 16,200,000
Property, plant, and equipment	2,300,000
Goodwill	50,900,000
Total assets acquired	69,400,000
Current liabilities	9,500,000
Total liabilities assumed	9,500,000
Net assets acquired	59,900,000
Business combination, consideration transferred	$ 59,900,000
Linxis
Business Acquisition [Line Items]
Property, plant, and equipment		$ 36,700,000
Goodwill		332,000,000
Cash and cash equivalents		22,900,000
Trade receivables		31,500,000
Receivables from long-term manufacturing contracts		12,100,000
Inventories		80,100,000
Prepaid expenses and other current assets		11,700,000
Operating lease right-of-use assets		15,000,000
Intangible assets		243,800,000
Other noncurrent assets		1,000,000
Total assets acquired		786,800,000
Trade accounts payable		18,900,000
Liabilities from long-term manufacturing contracts		52,000,000
Accrued compensation		10,300,000
Other current liabilities		19,600,000
Accrued pension and postretirement healthcare		3,900,000
Operating lease liabilities		9,400,000
Deferred income taxes		77,000,000
Other noncurrent liabilities		300,000
Total liabilities assumed		191,400,000
Net assets acquired		595,400,000
Fair value of noncontrolling interest		(4,600,000)
Business combination, consideration transferred		$ 590,800,000
Herbold
Business Acquisition [Line Items]
Current assets			40,600,000	40,600,000		$ 38,200,000
Property, plant, and equipment			7,000,000	7,000,000		4,700,000
Goodwill			43,100,000	43,100,000		69,300,000
Intangible assets			22,600,000	22,600,000		0
Other noncurrent assets			5,300,000	5,300,000		5,300,000
Total assets acquired			118,600,000	118,600,000		117,500,000
Other noncurrent liabilities			5,900,000	5,900,000		5,900,000
Current liabilities			35,000,000	35,000,000		33,900,000
Total liabilities assumed			40,900,000	40,900,000		39,800,000
Net assets acquired			$ 77,700,000	77,700,000		$ 77,700,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Current Assets				2,400,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment				2,300,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles				22,600,000
Goodwill, Purchase Accounting Adjustments				(26,200,000)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Assets				1,100,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Current Liabilities				1,100,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Liabilities				$ 1,100,000

Acquisitions - Schedule of Inta

Acquisitions - Schedule of Intangible Assets Acquired (Details) - USD ($) $ in Millions	Oct. 06, 2022	Aug. 31, 2022	Dec. 31, 2022
Linxis
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 243.8
Intangible assets	243.8
Linxis | Customer relationships
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 211.1
Weighted-Average Useful Life	13 years
Linxis | Trade names
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 32.7
Weighted-Average Useful Life	10 years
Herbold
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired		$ 22.6
Intangible assets		0	$ 22.6
Herbold | Customer relationships
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired		$ 10.2
Weighted-Average Useful Life		15 years
Herbold | Trade names
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired		$ 8
Weighted-Average Useful Life		10 years
Herbold | Technology, including patents
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired		$ 4.4
Weighted-Average Useful Life		7 years

Acquisitions - Schedule of Resu

Acquisitions - Schedule of Results of Operations After Acquisition (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Net revenue	$ 655.7	$ 565.9
Income before income taxes	29.1	$ 35.5
Linxis
Business Acquisition [Line Items]
Net revenue	81
Income before income taxes	$ (0.1)

Acquisitions - Schedule of Supp

Acquisitions - Schedule of Supplemental Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Business Combinations [Abstract]
Net revenue	$ 661.5	$ 661
Income from continuing operations attributable to Hillenbrand	$ 33.5	$ 19
Earnings Per Share
Basic earnings per share	$ 0.48	$ 0.26
Diluted earnings per share	$ 0.48	$ 0.26

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information - Schedule of supplemental balance sheet information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Allowance for doubtful accounts	$ 7.4	$ 6.4
Warranty reserves	27.6	22.4
Accumulated depreciation on property, plant, and equipment	212.1	197.6
Inventories, net:
Raw materials and components	251.7	210.1
Work in process	136.6	107.9
Finished goods	203.3	167.6
Total inventories, net	591.6	485.6
Cash and cash equivalents	193.9	232.2	$ 446.3
Cash and cash equivalents	0.9	1.9	1.1
Restricted Cash and Cash Equivalents	1		0.8
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 195.8	$ 237.6	$ 448.2	$ 450.9

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease expense	$ 7.1	$ 6.1

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Leases [Abstract]
Operating lease right-of-use assets, net	$ 106	$ 87.9
Other current liabilities	18.3	15.7
Operating lease liabilities	82.3	70.5
Total operating lease liabilities	$ 100.6	$ 86.2
Weighted-average remaining lease term (in years)	7 years 7 months 6 days	7 years 10 months 24 days
Weighted-average discount rate	2.90%	2.70%

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Liability Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Leases [Abstract]
2023 (excluding the three months ended December 31, 2022)	$ 16.2
2022	17.4
2023	14.9
2024	10.8
Thereafter	39.4
Total lease payments	111.2
Less: imputed interest	(10.6)
Total present value of lease payments	100.6	$ 86.2
2022	$ 12.5

Leases - Schedule fo Supplement

Leases - Schedule fo Supplemental Statement of Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 5.6	$ 5.2
Operating lease right-of-use assets, net obtained in exchange for new operating lease liabilities	1.8	0.4
Operating leases acquired in acquisitions	$ 15	$ 0

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 266.4
Expected amortization, 2023	74
Expected amortization, 2024	73.9
Expected amortization, 2025	71.1
Expected amortization, 2026	70.4
Expected amortization, 2027	$ 70.6
Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	21 years

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Intangible Assets [Line Items]
Cost	$ 1,221.2	$ 906.9
Accumulated Amortization	(348)	(316.5)
Total	1,443.1	1,124.5
Trade names
Intangible Assets [Line Items]
Indefinite-lived assets:	221.9	217.6
Customer relationships
Intangible Assets [Line Items]
Cost	998.7	739.6
Accumulated Amortization	(244)	(221.1)
Trade names
Intangible Assets [Line Items]
Cost	43.6	0
Accumulated Amortization	(1.1)	0
Technology, including patents
Intangible Assets [Line Items]
Cost	140.8	132.9
Accumulated Amortization	(74)	(68.4)
Software
Intangible Assets [Line Items]
Cost	38.1	34.4
Accumulated Amortization	$ (28.9)	$ (27)

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Goodwill (Details) $ in Millions	3 Months Ended
	Dec. 31, 2022 USD ($)
Goodwill [Roll Forward]
Balance at the beginning of the period	$ 1,151.1
Acquisitions	382.9
Acquisition measurement period adjustments	(25.8)
Foreign currency adjustments	54.5
Balance at the end of the period	1,562.7
Advanced Process Solutions
Goodwill [Roll Forward]
Balance at the beginning of the period	516
Acquisitions	382.9
Acquisition measurement period adjustments	(25.8)
Foreign currency adjustments	44.6
Balance at the end of the period	917.7
Molding Technology Solutions
Goodwill [Roll Forward]
Balance at the beginning of the period	635.1
Acquisitions	0
Acquisition measurement period adjustments	0
Foreign currency adjustments	9.9
Balance at the end of the period	$ 645

Financing Agreements - Schedule

Financing Agreements - Schedule of borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Debt Instrument [Line Items]
Total debt	$ 1,900.4	$ 1,222.1
Current portion of long-term debt	10	0
Long-term debt	1,890.4	1,222.1
$1,000.0 revolving credit facility (excluding outstanding letters of credit)
Debt Instrument [Line Items]
Total debt	484.6	6.7
$200.0 term loan
Debt Instrument [Line Items]
Total debt	200	0
$400.0 senior unsecured notes (1)
Debt Instrument [Line Items]
Total debt	397.2	397.1
Debt Issuance Costs, Line of Credit Arrangements, Gross	2.8	2.9
$375.0 senior unsecured notes, net of discount (2)
Debt Instrument [Line Items]
Total debt	372.4	372.2
Debt Issuance Costs, Line of Credit Arrangements, Gross	2.3	2.5
$350.0 senior unsecured notes (3)
Debt Instrument [Line Items]
Total debt	346.3	346.2
Debt Issuance Costs, Line of Credit Arrangements, Gross	3.7	3.8
$100.0 Series A Notes (4)
Debt Instrument [Line Items]
Total debt	99.9	99.9
Debt Issuance Costs, Line of Credit Arrangements, Gross	$ 0.1	$ 0.1

Financing Agreements - Narrativ

Financing Agreements - Narrative (Details)	3 Months Ended	9 Months Ended
	Dec. 31, 2022 USD ($)	Jun. 30, 2022	Sep. 30, 2022 USD ($)	Jun. 16, 2020 USD ($)	Dec. 15, 2014 USD ($)
Debt Instrument [Line Items]
Long-term debt	$ 1,900,400,000		$ 1,222,100,000
Letters of credit outstanding, amount	21,000,000
Covenant terms, maximum ratio of indebtedness to earnings before interest, taxes, depreciation, and amortization		3.50
Covenant terms, minimum ratio of earnings before interest, taxes, depreciation, and amortization to interest expense		3
$1,000.0 revolving credit facility (excluding outstanding letters of credit)
Debt Instrument [Line Items]
Long-term debt	484,600,000		6,700,000
Line of credit facility, remaining borrowing capacity	$ 494,400,000
Weighted average facility fee	0.15%
Weighted-average interest rates	2.23%
$200.0 term loan
Debt Instrument [Line Items]
Long-term debt	$ 200,000,000		0
Weighted-average interest rates	5.43%
$100.0 Series A Notes (4)
Debt Instrument [Line Items]
Debt instrument, face amount					$ 100,000,000
Debt interest rate, percent	4.60%
Long-term debt	$ 99,900,000		99,900,000
Other Financing Agreements
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	440,800,000		373.6
Line of credit facility, amount utilized for bank guarantees	262,400,000		247.4
$400.0 senior unsecured notes (1)
Debt Instrument [Line Items]
Debt instrument, face amount				$ 400,000,000
Long-term debt	397,200,000		397,100,000
$375.0 senior unsecured notes, net of discount (2)
Debt Instrument [Line Items]
Long-term debt	372,400,000		$ 372,200,000
L/G Facility Agreement Amendment
Debt Instrument [Line Items]
Covenant terms, maximum ratio of indebtedness to earnings before interest, taxes, depreciation, and amortization		4
2019 Notes | $375.0 senior unsecured notes, net of discount (2)
Debt Instrument [Line Items]
Debt instrument, face amount	375,000,000
2021 Notes | $375.0 senior unsecured notes, net of discount (2)
Debt Instrument [Line Items]
Debt instrument, face amount	$ 350

Retirement Benefits (Details)

Retirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service costs	$ 0	$ 0
Interest costs	2.8	1.5
Expected return on plan assets	(3.4)	(2.7)
Amortization of net loss (gain)	0.1	0.4
Net periodic pension (benefit) cost	(0.5)	(0.8)
Non-U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service costs	0.5	0.5
Interest costs	0.9	0.2
Expected return on plan assets	(0.3)	(0.2)
Amortization of net loss (gain)	(0.2)	0.6
Net periodic pension (benefit) cost	$ 0.9	$ 1.1

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Defined contribution plan expense	$ 2.9	$ 2.7

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	7.90%	37.50%

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Antidilutive securities excluded from computation of earnings per share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	500,000	0
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	400,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Income from continuing operations	$ 26.8	$ 22.2
Less: Net income attributable to noncontrolling interests	2.3	1.1
Income from continuing operations attributable to Hillenbrand	$ 24.5	$ 21.1
Weighted average shares outstanding (basic)	69.4	72.7
Effect of dilutive stock options and other unvested equity awards (in millions)	0.4	0.8
Weighted-average shares outstanding (diluted - in millions)	69.8	73.5
Income from continuing operations attributable to Hillenbrand (in dollars per share)	$ 0.36	$ 0.29
Income from continuing operations attributable to Hillenbrand (in dollars per share)	$ 0.35	$ 0.29
Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions)	0.5	0

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Cash dividends paid on common stock	$ 15.3	$ 15.8
Treasury Stock
Class of Stock [Line Items]
Common stock, shares issued	0.4	0.5

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) - Schedule of changes in accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	$ (155.6)
Other comprehensive income before reclassifications
Before tax amount	47.7	$ 2.8
Tax expense	(1.3)	(0.1)
After tax amount	46.4	2.7
Amounts reclassified from accumulated other comprehensive loss (2)	0.1	1.1
Total changes in other comprehensive income, net of tax	46.5	3.8
Balance at the end of the period	(108.9)
Pension and Postretirement
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(32.8)	(49.2)
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 (2)	(0.2)	0.7
Total changes in other comprehensive income, net of tax	(0.2)	0.7
Balance at the end of the period	(33)	(48.5)
Currency Translation (1)
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(113.7)	13.1
Other comprehensive income before reclassifications
Before tax amount	43.2	2.5
Tax expense	0	0
After tax amount	43.2	2.5
Amounts reclassified from accumulated other comprehensive loss (2)	0	0
Total changes in other comprehensive income, net of tax	43.2	2.5
Balance at the end of the period	(70.5)	15.6
Net Unrealized (Loss) Gain on Derivative Instruments
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(9.1)	(10.2)
Other comprehensive income before reclassifications
Before tax amount	4.7	0.4
Tax expense	(1.3)	(0.1)
After tax amount	3.4	0.3
Amounts reclassified from accumulated other comprehensive loss (2)	0.3	0.4
Total changes in other comprehensive income, net of tax	3.7	0.7
Balance at the end of the period	(5.4)	(9.5)
Total Attributable to Hillenbrand, Inc.
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(155.6)	(46.3)
Other comprehensive income before reclassifications
Before tax amount	47.9	2.9
Tax expense	(1.3)	(0.1)
After tax amount	46.6	2.8
Amounts reclassified from accumulated other comprehensive loss (2)	0.1	1.1
Total changes in other comprehensive income, net of tax	46.7	3.9
Balance at the end of the period	(108.9)	(42.4)
Noncontrolling Interests
Other comprehensive income before reclassifications
Before tax amount	(0.2)	(0.1)
Tax expense	0	0
After tax amount	(0.2)	(0.1)
Amounts reclassified from accumulated other comprehensive loss (2)	0	0
Total changes in other comprehensive income, net of tax	$ (0.2)	$ (0.1)

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Schedule of reclassifications (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Affected Line in the Consolidated Statement of Operations:
Net revenue	$ 655.7	$ 565.9
Cost of Goods and Services Sold	(444.8)	(384.1)
Other income, net	(2.9)	(0.4)
Tax expense	(2.3)	(13.3)
Total reclassifications for the period, net of tax	0.1	1.1
Amortization of Pension and Postretirement
Affected Line in the Consolidated Statement of Operations:
Total reclassifications for the period, net of tax	(0.2)	0.7
Loss (Gain) on Derivative Instruments
Affected Line in the Consolidated Statement of Operations:
Total reclassifications for the period, net of tax	0.3	0.4
Reclassifications out of accumulated other comprehensive income (loss)
Affected Line in the Consolidated Statement of Operations:
Net revenue	(0.1)
Cost of Goods and Services Sold	(0.1)	(0.2)
Other income, net	0.4	1.5
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0.2	1.3
Tax expense	(0.1)	(0.2)
Total reclassifications for the period, net of tax	0.1	1.1
Reclassifications out of accumulated other comprehensive income (loss) | Accumulated Defined Benefit Plans Adjustment Net Loss Recognized [Member]
Affected Line in the Consolidated Statement of Operations:
Net revenue	0
Cost of Goods and Services Sold	0	0
Other income, net	(0.1)	0.9
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(0.1)	0.9
Reclassifications out of accumulated other comprehensive income (loss) | Accumulated Defined Benefit Plans Adjustment Prior Service Cost Recognized [Member]
Affected Line in the Consolidated Statement of Operations:
Net revenue	0
Cost of Goods and Services Sold	0	0
Other income, net	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	0
Reclassifications out of accumulated other comprehensive income (loss) | Loss (Gain) on Derivative Instruments
Affected Line in the Consolidated Statement of Operations:
Net revenue	(0.1)
Cost of Goods and Services Sold	(0.1)	(0.2)
Other income, net	0.5	0.6
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	$ 0.3	$ 0.4

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of stock-based compensation costs (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Compensation Related Costs [Abstract]
Share-based compensation costs	$ 4.6	$ 5.3
Less impact of income taxes	1.1	1.3
Share-based compensation costs, net of tax	$ 3.5	$ 4

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of stock-based awards granted (Details)	3 Months Ended
	Dec. 31, 2022 shares
Time-based stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted in period (in shares)	225,740
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 (in shares)	363,580

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details)	3 Months Ended
	Dec. 31, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	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 (in dollars per share)	$ 51.32
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 (in dollars per share)	$ 67.41
Performance-based stock awards granted, number of units (in shares) | shares	214,566

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accumulated other comprehensive income (loss) [Line Items]
Net loss on divestiture	$ 0	$ (3.1)
Interest Income, Other	(1.8)	(0.9)
Foreign currency exchange loss, net	0	0.9
Other, net	(1.1)	(0.4)
Other income, net	$ (2.9)	$ (0.4)

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2022 USD ($)
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 ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Assets:
Cash and cash equivalents	$ 193.9	$ 232.2
Restricted Cash	1	3.5
Cash and cash equivalents	0.9	1.9	$ 1.1
Investments in rabbi trust	3	2.4
Derivative instruments	3	2.6
Liabilities:
Derivative instruments	3.1	8
Cash flow hedging | Foreign Exchange Forward
Liabilities:
Derivative, notional amount	222.5	156
Level 1
Assets:
Cash and cash equivalents	193.9	232.2
Restricted Cash	1	3.5
Cash and cash equivalents	0.9	1.9
Investments in rabbi trust	3	2.4
Derivative instruments	0	0
Liabilities:
Derivative instruments	0	0
Level 2
Assets:
Cash and cash equivalents	0	0
Restricted Cash	0	0
Cash and cash equivalents	0	0
Investments in rabbi trust	0	0
Derivative instruments	3	2.6
Liabilities:
Derivative instruments	3.1	8
Level 3
Assets:
Cash and cash equivalents	0	0
Restricted Cash	0	0
Cash and cash equivalents	0	0
Investments in rabbi trust	0	0
Derivative instruments	0	0
Liabilities:
Derivative instruments	0	0
$1,000.0 revolving credit facility (excluding outstanding letters of credit)
Liabilities:
Debt instruments	484.6	6.7
$1,000.0 revolving credit facility (excluding outstanding letters of credit) | Level 1
Liabilities:
Debt instruments	0	0
$1,000.0 revolving credit facility (excluding outstanding letters of credit) | Level 2
Liabilities:
Debt instruments	484.6	6.7
$1,000.0 revolving credit facility (excluding outstanding letters of credit) | Level 3
Liabilities:
Debt instruments	0	0
$200.0 term loan
Liabilities:
Debt instruments	200
$200.0 term loan | Level 1
Liabilities:
Debt instruments	0
$200.0 term loan | Level 2
Liabilities:
Debt instruments	200
$200.0 term loan | Level 3
Liabilities:
Debt instruments	0
2021 Notes
Liabilities:
Debt instruments	350	350
2021 Notes | Level 1
Liabilities:
Debt instruments	288	268.7
2021 Notes | Level 2
Liabilities:
Debt instruments	0	0
2021 Notes | Level 3
Liabilities:
Debt instruments	0	0
2020 Notes
Liabilities:
Debt instruments	400	400
2020 Notes | Level 1
Liabilities:
Debt instruments	399.9	394.5
2020 Notes | Level 2
Liabilities:
Debt instruments	0	0
2020 Notes | Level 3
Liabilities:
Debt instruments	0	0
2019 Notes
Liabilities:
Debt instruments	374.7	374.7
2019 Notes | Level 1
Liabilities:
Debt instruments	360.7	349.6
2019 Notes | Level 2
Liabilities:
Debt instruments	0	0
2019 Notes | Level 3
Liabilities:
Debt instruments	0	0
Series A Notes
Liabilities:
Debt instruments	100	100
Series A Notes | Level 1
Liabilities:
Debt instruments	0	0
Series A Notes | Level 2
Liabilities:
Debt instruments	96.3	97.6
Series A Notes | Level 3
Liabilities:
Debt instruments	$ 0	$ 0

Segment and Geographical Info_3

Segment and Geographical Information - Schedule of net revenue and assets by segment (Details) $ in Millions	3 Months Ended
	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Sep. 30, 2022 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	2
Number of operating segments | segment	2
Segment and Geographical Information
Net revenue	$ 655.7	$ 565.9
Total assets	4,885.9		$ 3,867.5
Current assets held for sale	238		116.1
Property, plant, and equipment, net	391.2		319.8
United States
Segment and Geographical Information
Net revenue	232.9	162.9
Property, plant, and equipment, net	95.6		79.3
GERMANY
Segment and Geographical Information
Net revenue	120.2	148.7
Property, plant, and equipment, net	129.9		104.1
CHINA
Segment and Geographical Information
Net revenue	52.4	50.9
Property, plant, and equipment, net	41.8		42.2
INDIA
Segment and Geographical Information
Net revenue	44.5	34.2
Property, plant, and equipment, net	39.4		40.7
All other countries
Segment and Geographical Information
Net revenue	205.7	169.2
Property, plant, and equipment, net	84.5		53.5
Corporate
Segment and Geographical Information
Adjusted EBITDA (1)	(13.1)	(16.9)
Total assets	107.4		99.3
Segment Reconciling Items
Segment and Geographical Information
Current assets held for sale	238		221.4
Advanced Process Solutions
Segment and Geographical Information
Net revenue	412.8	317.1
Advanced Process Solutions | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	71.3	54.6
Total assets	2,493.8		1,494.2
Molding Technology Solutions
Segment and Geographical Information
Net revenue	242.9	248.8
Molding Technology Solutions | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	43.1	$ 51.8
Total assets	$ 2,046.7		$ 2,052.6

Segment and Geographical Info_4

Segment and Geographical Information - Schedule of reconciliation of segment (Details 2) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Segment and Geographical Information
Income from discontinued operations (net of income tax expense)	$ 21	$ 27.9
Interest income	(1.8)	(0.9)
Interest expense	23.3	17.9
Income tax expense	2.3	13.3
Depreciation and amortization	31	25.6
Business acquisition, development, and integration costs	10.7	7.6
Inventory step up charges	8	0
Inventory step-up	1	0.7
Net loss on divestiture	0	3.1
Income from continuing operations	47.8	50.1
Corporate
Segment and Geographical Information
Adjusted EBITDA (1)	(13.1)	(16.9)
Advanced Process Solutions | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	71.3	54.6
Molding Technology Solutions | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	$ 43.1	$ 51.8

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restructuring and Related Cost
Restructuring charges	$ 1.1	$ 1.2
Restructuring costs accrued	1.8
Corporate
Restructuring and Related Cost
Restructuring charges	0	0
Advanced Process Solutions
Restructuring and Related Cost
Restructuring charges	1.1	1.1
Molding Technology Solutions
Restructuring and Related Cost
Restructuring charges	0	0.1
Cost of goods sold
Restructuring and Related Cost
Restructuring charges	0.1	1
Cost of goods sold | Corporate
Restructuring and Related Cost
Restructuring charges	0	0
Cost of goods sold | Advanced Process Solutions
Restructuring and Related Cost
Restructuring charges	0.1	0.9
Cost of goods sold | Molding Technology Solutions
Restructuring and Related Cost
Restructuring charges	0	0.1
Operating expenses
Restructuring and Related Cost
Restructuring charges	1	0.2
Operating expenses | Corporate
Restructuring and Related Cost
Restructuring charges	0	0
Operating expenses | Advanced Process Solutions
Restructuring and Related Cost
Restructuring charges	1	0.2
Operating expenses | Molding Technology Solutions
Restructuring and Related Cost
Restructuring charges	$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Oct. 06, 2022 USD ($)
Linxis
Subsequent Event [Line Items]
Business combination, consideration transferred	$ 590.8