Hillenbrand (HI) 10-Q 5 Feb 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Dec. 31, 2023	Jan. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
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	931-5000
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		70,151,784
Entity Central Index Key	0001417398
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024
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, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net revenue	$ 773.3	$ 655.7
Cost of goods sold	522.3	448.1
Gross profit	251	207.6
Operating expenses	157.9	137.9
Amortization expense	25.5	19.1
Pension settlement charge	8.3	0
Interest expense, net	29.8	21.5
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	29.5	29.1
Income tax expense	10	2.3
Income from continuing operations	19.5	26.8
(Loss) income from discontinued operations (net of income tax expense)	(0.3)	21
Consolidated net income	19.2	47.8
Less: Net income attributable to noncontrolling interests	2	2.3
Net income attributable to Hillenbrand	$ 17.2	$ 45.5
Basic earnings per share
Income from continuing operations attributable to Hillenbrand (in dollars per share)	$ 0.25	$ 0.36
Income from discontinued operations (in dollars per share)	0	0.30
Net income attributable to Hillenbrand	0.25	0.66
Diluted earnings per share
Income from continuing operations attributable to Hillenbrand (in dollars per share)	0.25	0.35
Income from discontinued operations (in dollars per share)	(0.01)	0.30
Diluted earnings per share	$ 0.24	$ 0.65
Weighted average shares outstanding (basic)	70.3	69.4
Weighted average shares outstanding (diluted)	70.5	69.8

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Consolidated net income (loss)	$ 19.2	$ 47.8
Changes in other comprehensive income, net of tax:
Currency translation adjustment (1)	49.3	43
Pension and postretirement	6	(0.2)
Change in net unrealized gain on derivative instruments	0.9	3.7
Total changes in other comprehensive income, net of tax	56.2	46.5
Consolidated comprehensive income	75.4	94.3
Less: Comprehensive income attributable to noncontrolling interests	2	2.1
Comprehensive income (loss)	$ 73.4	$ 92.2

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Pension and postretirement, tax	$ 0	$ 0
Change in net unrealized gain (loss) on derivative instruments, tax		$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Current Assets
Cash and cash equivalents	$ 198.4
Trade receivables, net	352.5	$ 398.7
Receivables from long-term manufacturing contracts, net	287.2	260.2
Inventories, net	607.5	592.6
Prepaid expenses and other current assets	131.9	113.2
Total current assets	1,577.5	1,607.6
Property, plant, and equipment, net	334.6	320.7
Operating lease right-of-use assets, net	118.8	111.3
Intangible assets, net	1,386.5	1,377.1
Goodwill	2,061.5	2,028.1
Other long-term assets	106	102.9
Total Assets	5,584.9	5,547.7
Current Liabilities
Trade accounts payable	422.1	451.5
Liabilities from long-term manufacturing contracts and advances	387.1	388.5
Current portion of long-term debt	20.3	19.7
Accrued compensation	85.1	99.6
Other current liabilities	316.2	331.7
Total current liabilities	1,230.8	1,291
Long-term debt	2,021.5	1,990.4
Accrued pension and postretirement healthcare	105	101.4
Operating lease liabilities	92	88.1
Deferred income taxes	345.7	351.2
Other long-term liabilities	70.9	62.7
Total Liabilities	3,865.9	3,884.8
Commitments and contingencies (Note 15)
SHAREHOLDERS’ EQUITY
Common stock, no par value (75.8 and 75.8 shares issued, 70.1 and 69.9 shares outstanding)	0	0
Additional paid-in capital	701.2	709.5
Retained earnings	1,321	1,319.6
Treasury stock (5.7 and 5.9 shares, at cost)	(242.7)	(251.7)
Accumulated other comprehensive loss	(90.9)	(147.1)
Hillenbrand Shareholders’ Equity	1,688.6	1,630.3
Noncontrolling interests	30.4	32.6
Total Shareholders’ Equity	1,719	1,662.9
Total Liabilities and Shareholders’ Equity	$ 5,584.9	$ 5,547.7

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Dec. 31, 2023	Sep. 30, 2023
Statement of Financial Position [Abstract]
Common stock, shares issued	75,800,000	75,800,000
Common stock, shares outstanding	70,100,000	69,900,000
Treasury stock, shares	5,700,000	5,900,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flow - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating activities from continuing operations
Consolidated net income	$ 19,200	$ 47,800
Adjustments to reconcile income from continuing operations to cash provided by operating activities:
(Loss) income from discontinued operations (net of income tax expense)	300	(21,000)
Depreciation and amortization	38,800	31,000
Deferred income taxes	(22,400)	(5,300)
Amortization of deferred financing costs	1,100	900
Share-based compensation	5,200	5,100
Trade accounts receivable, net and receivables from long-term manufacturing contracts	36,700	(51,100)
Inventories, net	(1,700)	2,700
Prepaid expenses and other current assets	(22,000)	(13,900)
Trade accounts payable	(38,900)	(11,600)
accrued compensation, and other current liabilities	(57,700)	14,800
Income taxes payable	14,900	(1,600)
Accrued pension and postretirement	6,500	(1,900)
Other, net	(4,000)	(1,500)
Net cash used in operating activities from continuing operations	(24,000)	(5,600)
Investing activities from continuing operations
Capital expenditures	(12,400)	(15,300)
Proceeds from sales of property, plant, and equipment	100	800
Acquisition of businesses, net of cash acquired	0	(627,500)
Payments for (Proceeds from) Other Investing Activities	2,800	0
Net cash used in investing activities from continuing operations	(15,100)	(642,000)
Financing activities from continuing operations
Proceeds from issuance of long-term debt	0	200,000
Repayments on long-term debt	(2,500)	0
Proceeds from revolving credit facilities	31,400	756,300
Repayments on revolving credit facilities	(24,200)	(326,300)
Payment of deferred financing costs	0	(600)
Payments of dividends on common stock	(15,600)	(15,300)
Proceeds from stock option exercises	600	6,900
Payments for employee taxes on net settlement equity awards	(5,300)	(9,200)
Other, net	(1,500)	(1,500)
Net cash (used in) provided by financing activities from continuing operations	(17,100)	610,300
Cash used in continuing operations	(56,200)	(37,300)
Cash used in discontinued operations:
Operating cash flows	0	(600)
Investing cash flows	0	(4,500)
Total cash used in discontinued operations	0	(5,100)
Effect of exchange rates on cash and cash equivalents	5,600	600
Net cash flows	(50,600)	(41,800)
Cash and cash equivalents:
At beginning of period	250,200	237,600
At end of period	$ 199,600	$ 195,800

Consolidated Statements of Shar

Consolidated Statements of Shareholders Equity Statement - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Balance, shares at Sep. 30, 2022		75.8			6.9
Balance at Sep. 30, 2022	$ 1,108		$ 723.8	$ 812	$ (297.3)	$ (155.6)	$ 25.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total other comprehensive income (loss), net of tax	46.5					46.7	(0.2)
Income from continuing operations	47.8			45.5			2.3
Common stock, shares issued					(0.4)
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture	(2.3)		(22.6)		$ 20.3
Share-based compensation	5.1		5.1
Dividends, Common Stock	(16.9)		0.2	(15.5)			(1.6)
Noncontrolling Interest, Increase from Business Combination	4.6						4.6
Balance at Dec. 31, 2022	$ 1,192.8		706.5	842	$ (277)	(108.9)	30.2
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)	$ 0.2200
Balance, shares at Sep. 30, 2023		75.8			5.9
Balance at Sep. 30, 2023	$ 1,662.9		709.5	1,319.6	$ (251.7)	(147.1)	32.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total other comprehensive income (loss), net of tax	56.2					56.2	0
Income from continuing operations	19.2			17.2			2
Common stock, shares issued					(0.2)
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture	(4.7)		(13.7)		$ 9
Share-based compensation	5.2		5.2
Dividends, Common Stock	(16.8)		0.2	(15.8)			(1.2)
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	(3)						(3)
Balance at Dec. 31, 2023	$ 1,719		$ 701.2	$ 1,321	$ (242.7)	$ (90.9)	$ 30.4
Balance, shares at Dec. 31, 2023		75.8			5.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, dividends, per share, declared (in dollars per share)	$ 0.2225

Background and Basis of Present

Background and Basis of Presentation	3 Months Ended
	Dec. 31, 2023
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 that provides highly-engineered processing equipment and solutions to customers around the world. Our portfolio is composed of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling. Guided by our Purpose, Shape What Matters for Tomorrow TM , we pursue excellence, collaboration, and innovation to shape solutions that best serve our people, our customers, and our communities. Customers choose Hillenbrand due to our reputation for designing, manufacturing, and servicing highly-engineered, mission-critical equipment and solutions that meet their unique and complex processing requirements. On February 1, 2023, the Company completed the divestiture of its historical Batesville reportable operating segment (“Batesville”) to BL Memorial Partners, LLC, a Delaware limited liability company owned by funds affiliated with LongRange Capital, L.P., for $761.5, including an $11.5 subordinated note. This divestiture represented a strategic shift in Hillenbrand’s business and qualified as a discontinued operation. Accordingly, the operating results and cash flows related to Batesville have been reflected as discontinued operations in the Consolidated Statements of Operations and the Consolidated Statements of Cash Flows for all periods presented. Unless otherwise noted, discussion within the condensed notes to the Consolidated Financial Statements relates to continuing operations only and excludes Batesville. See Note 4 for additional information on this divestiture. The Company is providing, and will continue to provide, certain transition services to Batesville for applicable fees that are not material to the Company’s financial position. The transition services vary in duration depending upon the type of service provided. As a result of the divestiture, Hillenbrand is now composed of two reportable operating segments: Advanced Process Solutions and Molding Technology Solutions. Advanced Process Solutions is a leading global provider of highly-engineered process and material handling equipment, systems, and aftermarket parts and services for a variety of industries, including durable plastics, food, and recycling. Molding Technology Solutions is a global leader in highly-engineered equipment, systems, and aftermarket parts and service for the plastic technology processing industry. Molding Technology Solutions has a comprehensive product portfolio that includes injection molding and extrusion equipment, hot runner systems, process control systems, mold bases and components, and maintenance, repair, and operating (“MRO”) supplies. The 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 refer 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, 2023, as filed with the SEC on November 15, 2023. 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 credit losses, warranties, inventories, income taxes, litigation, and self-insurance.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2023
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, 2023. Recently adopted accounting standards In September 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50); Disclosure of Supplier Finance Program Obligations . ASU 2022-04 requires entities that use supplier finance programs to disclose information about the nature and potential magnitude of the programs, activity during the period, and changes from period to period. ASU 2022-04 does not affect the recognition, measurement, or consolidated financial statement presentation of obligations covered by supplier finance programs. The Company adopted ASU 2022-04 effective October 1, 2023. The adoption of ASU 2022-04 did not have a material effect on our Consolidated Financial Statements and related disclosures. See Note 6 for further details. Recently issued accounting standards In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . ASU 2023-07 requires additional disclosures pertaining to significant expenses and other items of an entity’s reportable operating segments. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 (fiscal 2025). Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-07 on the Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. ASU 2023-09 will be effective for annual periods beginning after December 15, 2024 (fiscal 2026). The Company is currently evaluating the impact of ASU 2023-09 on the Consolidated Financial Statements. No other new accounting pronouncements recently adopted or issued had or are expected to have a material impact on the Consolidated Financial Statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Dec. 31, 2023
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 based upon historical experience. Contract balances The balance in receivables from long-term manufacturing contracts at December 31, 2023 and September 30, 2023, was $287.2 and $260.2, respectively. The change was driven by the impact of net revenue recognized prior to billings to customers. The balance in the liabilities from long-term manufacturing contracts and advances at December 31, 2023 and September 30, 2023, was $387.1 and $388.5, 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, 2023 and 2022, related to liabilities from long-term manufacturing contracts and advances as of September 30, 2023 and 2022, was $116.4 and $91.4, respectively. During the three months ended December 31, 2023 and 2022, the adjustments related to performance obligations satisfied in previous periods were immaterial. Transaction price allocated to the remaining performance obligations As of December 31, 2023, 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 $2,147.4. Approximately 80% 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, 2023 Three Months Ended December 31, 2022 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total End market Plastics and recycling $ 243.6 $ — $ 243.6 $ 240.8 $ — $ 240.8 Automotive — 40.7 40.7 — 49.2 49.2 Chemicals 45.4 — 45.4 24.7 — 24.7 Consumer goods — 28.3 28.3 — 33.1 33.1 Food and pharmaceuticals 182.8 — 182.8 103.8 — 103.8 Custom molders — 25.1 25.1 — 26.6 26.6 Packaging — 29.6 29.6 — 28.6 28.6 Construction 17.7 25.0 42.7 — 31.1 31.1 Minerals 20.0 — 20.0 13.8 — 13.8 Electronics — 12.9 12.9 — 15.9 15.9 Medical — 16.0 16.0 — 16.5 16.5 Other industrial 58.8 27.4 86.2 29.7 41.9 71.6 Total $ 568.3 $ 205.0 $ 773.3 $ 412.8 $ 242.9 $ 655.7 The following tables present net revenue by geography: Three Months Ended December 31, 2023 Three Months Ended December 31, 2022 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Geography (1) Americas $ 264.2 $ 109.9 $ 374.1 $ 138.5 $ 136.2 $ 274.7 Asia 146.3 60.5 206.8 148.7 68.2 216.9 Europe, the Middle East, and Africa 157.8 34.6 192.4 125.6 38.5 164.1 Total $ 568.3 $ 205.0 $ 773.3 $ 412.8 $ 242.9 $ 655.7 (1) The Company attributes net revenue to a geography based upon the location of the end customer. The following tables present net revenue by products and services: Three Months Ended December 31, 2023 Three Months Ended December 31, 2022 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Products and services Equipment $ 382.0 $ 127.2 $ 509.2 $ 305.3 $ 162.1 $ 467.4 Parts and services 186.3 62.8 249.1 107.5 64.6 172.1 Other — 15.0 15.0 — 16.2 16.2 Total $ 568.3 $ 205.0 $ 773.3 $ 412.8 $ 242.9 $ 655.7 The following tables present net revenue by timing of transfer: Three Months Ended December 31, 2023 Three Months Ended December 31, 2022 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Timing of transfer Point in time $ 278.2 $ 186.4 $ 464.6 $ 220.2 $ 230.0 $ 450.2 Over time 290.1 18.6 308.7 192.6 12.9 205.5 Total $ 568.3 $ 205.0 $ 773.3 $ 412.8 $ 242.9 $ 655.7

Divestitures

Divestitures	3 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures Batesville As previously described, on February 1, 2023, the Company completed the divestiture of Batesville to BL Memorial Partners, LLC, a Delaware limited liability company owned by funds affiliated with LongRange Capital, L.P., for $761.5, including an $11.5 subordinated note. At closing, after the applicable adjustments, the Company received $698.0 in pre-tax cash proceeds, including an adjustment for cash on hand acquired from the Company, and the previously mentioned subordinated note. Discontinued 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, 2023 2022 Net revenue $ — $ 156.0 Cost of goods sold — 103.7 Gross profit — 52.3 Operating expenses 0.3 20.9 (Loss) income from discontinued operations before income taxes (0.3) 31.4 Income tax expense — 10.4 (Loss) income from discontinued operations (net of income tax expense) $ (0.3) $ 21.0

Acquisitions

Acquisitions	3 Months Ended
	Dec. 31, 2023
Business Combinations [Abstract]
Acquisitions	Acquisitions Acquisition of Schenck Process Food and Performance Materials Business On September 1, 2023, the Company completed its acquisition of Schenck Process Food and Performance Materials (“FPM”) for $748.7, net of certain customary post-closing adjustments, and including cash acquired. The Company used available borrowings under its multi-currency revolving credit facility (the “Facility”) to fund this acquisition. Headquartered in Kansas City, Missouri, FPM specializes in the design, manufacturing, and service of feeding, filtration, baking, and material handling technologies and systems that are highly complementary to the equipment and solutions offered in our Advanced Process Solutions reportable operating segment. The results of FPM since the date of the acquisition are included in the Advanced Process Solutions reportable operating segment. Preliminary purchase price allocation and other items The Company utilized the services of an independent valuation consultant, along with estimates and assumptions determined 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, and the measurement period allowed for under Accounting Standards Codification (“ASC 805”), Business Combinations (“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 FPM has been allocated to individual assets acquired and liabilities assumed as of the acquisition date: September 1, 2023 (as initially reported) Measurement Period Adjustments September 1, 2023 Assets acquired: Cash and cash equivalents $ 17.3 $ — $ 17.3 Trade receivables 65.2 (1.6) 63.6 Receivables from long-term manufacturing contracts 22.4 — 22.4 Inventories 64.8 (0.5) 64.3 Prepaid expenses and other current assets 10.3 — 10.3 Property, plant, and equipment 27.3 14.9 42.2 Operating lease right-of-use assets 11.0 3.5 14.5 Intangible assets 338.0 0.4 338.4 Goodwill 476.5 (12.4) 464.1 Other non-current assets 2.7 (1.0) 1.7 Total assets acquired 1,035.5 3.3 1,038.8 Liabilities assumed: Trade accounts payable 59.4 (2.4) 57.0 Liabilities from long-term manufacturing contracts 86.6 — 86.6 Accrued compensation 13.5 — 13.5 Other current liabilities 45.7 1.1 46.8 Operating lease liabilities 9.5 — 9.5 Deferred income taxes 69.0 4.6 73.6 Other non-current liabilities 3.1 — 3.1 Total liabilities assumed 286.8 3.3 290.1 Net assets acquired $ 748.7 $ — $ 748.7 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 property, plant, and equipment, operating lease right-of-use assets, intangible assets, goodwill, and deferred income taxes. There were no measurement period adjustments materially impacting earnings that would have been recorded in previous reporting periods if the adjustments had been recognized as of the acquisition date. Intangible assets identified The preliminary purchase price allocation included $338.4 of acquired identifiable intangible assets. Intangible assets consist of FPM’s technology, Baker Perkins trade name, 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 FPM customer base, economic factors, and expected future cash flows of the Company following the acquisition of FPM. The technology and Baker Perkins trade name 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 FPM’s future cash flow projections, which were based on estimates used to price the FPM 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 $ 285.0 15 years Technology 48.0 12 years Trade name 4.4 5 years Other 1.0 Total intangible assets $ 338.4 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, plant, and equipment acquired, were valued using Level 2 inputs, which included data points that are observable, such as definitive sales agreements, appraisals or established market values of comparable assets (market approach). Goodwill and identifiable intangible assets were valued using Level 3 inputs, which are unobservable by nature, and included internal estimates of future cash flows (income approach). Significant increases (decreases) in any of those unobservable inputs 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 FPM’s operations have been included in Hillenbrand’s Consolidated Financial Statements since the September 1, 2023 acquisition date. The following table provides the results of operations for FPM included in Hillenbrand’s Consolidated Statement of Operations: Three Months Ended December 31, 2023 Net revenue $ 146.0 Income from continuing operations before income taxes 14.1 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 $59.2, including cash acquired, using available borrowings under the Facility. Headquartered in Sidney, Ohio, Peerless is a premier supplier of industrial food processing equipment. The acquisition of Peerless increased the Company's scale in the food end market, and combining Peerless’ highly complementary equipment and solutions with existing Advanced Process Solutions reportable operating segment technologies now allows the Company to deliver more comprehensive solutions to its customers. The results of Peerless since the date of acquisition are included in the Advanced Process Solutions reportable operating segment. Purchase price allocation and other items The Company utilized the services of an independent valuation consultant, along with estimates and assumptions determined by management, to estimate the fair value of the assets acquired and liabilities assumed. The 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 following table summarizes the final fair values of assets acquired and liabilities assumed as of the acquisition date: December 1, 2022 (as initially reported) Measurement Period Adjustments December 1, 2022 (as adjusted) Assets acquired: Current assets $ 16.2 $ 0.9 $ 17.1 Property, plant, and equipment 2.3 — 2.3 Intangible assets — 25.3 25.3 Goodwill 50.9 (27.0) 23.9 Total assets acquired 69.4 (0.8) 68.6 Liabilities assumed: Current liabilities 9.5 (0.1) 9.4 Total liabilities assumed 9.5 (0.1) 9.4 Net assets acquired $ 59.9 $ (0.7) $ 59.2 Measurement period adjustments The preliminary purchase price allocation was based upon a preliminary valuation, and the Company’s estimates and assumptions were 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, however, no material adjustments were recorded in the three months ended December 31, 2023. Adjustments were primarily made to intangible assets and goodwill. There were no measurement period adjustments materially impacting earnings that would have been recorded in previous reporting periods if the adjustments had been recognized as of the acquisition date. During the quarter ended December 31, 2023, the purchase price allocation for the acquisition was finalized. Intangible assets identified The purchase price allocation included $25.3 of acquired identifiable intangible assets. Intangible assets consist of Peerless’ trade name 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 Peerless customer base, economic factors, and future expected cash flows of the Company following the acquisition of Peerless. The trade name was 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 Peerless cash flow projections, which were based on estimates used to price the Peerless 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 (13%). The amounts allocated to intangible assets are as follows: Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 22.0 13 years Trade name 3.3 10 years Total intangible assets $ 25.3 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. The working capital assets and liabilities, as well as the property, plant, and equipment acquired, were valued using Level 2 inputs, which included data points that are observable, such as definitive sales agreements, appraisals or established market values of comparable assets (market approach). Goodwill and identifiable intangible assets were valued using Level 3 inputs, which are unobservable by nature, and included internal estimates of future cash flows (income approach). Significant increases (decreases) in any of those unobservable inputs 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 Peerless’ operations have been included in Hillenbrand’s Consolidated Financial Statements since the December 1, 2022 acquisition date. The following table provides the results of operations for Peerless included in Hillenbrand’s Consolidated Statements of Operations: Three Months Ended December 31, 2023 Three Months Ended December 31, 2022 Net revenue $ 7.1 $ 4.0 Income from continuing operations before income taxes 0.5 1.1 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. 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. 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 the design, manufacturing, and service of dosing, kneading, mixing, granulating, drying, and coating technologies. The purchase price allocation was finalized during the year ended September 30, 2023. The results of Linxis since the date of acquisition are included in the Advanced Process Solutions reportable operating segment. Supplemental Pro Forma Information The supplemental pro forma financial information presented below for the historical period 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 Peerless and FPM acquisitions had been completed on the date indicated, do not reflect synergies that might have been achieved, and are 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 Peerless and FPM had occurred on October 1, 2022, 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 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 historical period presented is as follows: Three months ended December 31, 2022 Net revenue $ 813.5 Income from continuing operations attributable to Hillenbrand 21.2 Income from continuing operations attributable to Hillenbrand — per share of common stock: Basic earnings per share from continuing operations $ 0.31 Diluted earnings per share from continuing operations $ 0.30

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Information	Supplemental Consolidated Balance Sheet Information December 31, September 30, Allowance for credit losses $ 10.4 $ 10.1 Warranty reserves $ 37.0 $ 35.8 Accumulated depreciation on property, plant, and equipment $ 243.0 $ 226.7 Inventories, net: Raw materials and components $ 295.4 $ 285.2 Work in process 129.9 135.0 Finished goods 182.2 172.4 Total inventories, net $ 607.5 $ 592.6 Other current liabilities: Income tax payable $ 76.5 $ 72.8 Other current liabilities 239.7 258.9 Total other current liabilities $ 316.2 $ 331.7 The following table provides a reconciliation of cash and 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, 2023 December 31, 2022 Cash and cash equivalents $ 198.4 $ 193.9 Cash and cash equivalents held for sale — 0.9 Short-term restricted cash included in other current assets 1.2 1.0 Total cash and cash equivalents, restricted cash, and cash and cash equivalents held for sale shown in the Consolidated Statements of Cash Flows $ 199.6 $ 195.8 Supplier Finance Program The Company has agreements with third-party financial institutions to facilitate supply chain finance (“SCF”) programs. The SCF programs allow qualifying suppliers to sell their receivables, on an invoice level at the selection of the supplier, from the Company to the financial institutions and negotiate their outstanding receivable arrangements and associated fees directly with the financial institutions. Hillenbrand is not party to the agreements between the supplier and the financial institutions. The supplier invoices that have been confirmed as valid under the SCF programs require payment in full by the financial institutions to the supplier by the original maturity date of the invoice, or discounted payment at an earlier date as agreed upon with the supplier. The Company’s obligations to its suppliers, including amounts due and scheduled payment terms, are not impacted by a supplier’s participation in the SCF programs. All outstanding amounts related to suppliers participating in the SCF programs are recorded upon confirmation with the third-party financial institutions in trade accounts payable in the Consolidated Balance Sheets, and associated payments are included in cash used in operating activities in the Consolidated Statements of Cash Flows. The Company’s outstanding obligations included in trade accounts payable as of December 31, 2023 and September 30, 2023, were $29.4 and $29.1, respectively. Trade Receivables Financing During the three months ended December 31, 2023, the Company executed an amendment of its trade receivables financing arrangement (as amended, the “Amended Arrangement”) with a financial institution. In accordance with ASC 869, Transfers and Servicing , this Amended Arrangement is deemed a true sale, as the Company retains no rights or interest and has no

Leases

Leases	3 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases For the three months ended December 31, 2023 and 2022, the Company recognized $8.5 and $7.1 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, 2023 and September 30, 2023. The following table presents supplemental Consolidated Balance Sheet information related to the Company’s operating leases: December 31, 2023 September 30, 2023 Operating lease right-of-use assets, net $ 118.8 $ 111.3 Other current liabilities 19.2 18.6 Operating lease liabilities 92.0 88.1 Total operating lease liabilities $ 111.2 $ 106.7 Weighted-average remaining lease term (in years) 6.9 7.1 Weighted-average discount rate 3.9 % 3.8 % As of December 31, 2023, the maturities of the Company’s operating lease liabilities were as follows: 2024 (excluding the three months ended December 31, 2023) $ 18.5 2025 21.7 2026 18.0 2027 15.1 2028 13.6 Thereafter 38.7 Total lease payments 125.6 Less: imputed interest (14.4) Total present value of lease payments $ 111.2 Supplemental Consolidated Statements of Cash Flow information related to the Company’s operating leases is as follows: Three Months Ended December 31, 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 6.8 $ 5.6 Operating lease right-of-use assets, net obtained in exchange for new operating lease liabilities 4.9 1.8 Operating leases acquired in acquisitions 3.5 15.0

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Dec. 31, 2023
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, 2023 September 30, 2023 Cost Accumulated Cost Accumulated Finite-lived assets: Customer relationships $ 1,312.9 $ (317.6) $ 1,290.2 $ (291.4) Technology, including patents 196.2 (89.2) 192.3 (83.1) Software 51.3 (33.4) 41.7 (31.7) Trade names 47.9 (5.7) 41.9 (4.2) 1,608.3 (445.9) 1,566.1 (410.4) Indefinite-lived assets: Trade names 224.1 — 221.4 — Total $ 1,832.4 $ (445.9) $ 1,787.5 $ (410.4) Finite-lived intangible assets, net of $742.0 and $740.0 are included in the Advanced Process Solutions reportable operating segment at December 31, 2023 and September 30, 2023, respectively. Indefinite-lived intangible assets of $112.0 and $109.3 are included in the Advanced Process Solutions reportable operating segment at December 31, 2023 and September 30, 2023, respectively. The net change in intangible assets in the Advanced Process Solutions reportable operating segment during the three months ended December 31, 2023, was driven primarily by acquisition measurement period adjustments, amortization, and foreign currency adjustments. Finite-lived intangible assets, net of $412.6 and $412.9 are included in the Molding Technology Solutions reportable operating segment at December 31, 2023 and September 30, 2023, respectively. Indefinite-lived intangible assets of $112.1 are included in the Molding Technology Solutions reportable operating segment at both December 31, 2023 and September 30, 2023. The net change in intangible assets in the Molding Technology Solutions reportable operating segment during the three months ended December 31, 2023, was driven primarily by amortization and foreign currency adjustments. Goodwill Goodwill is not amortized, but is subject to annual impairment tests. Goodwill has been assigned to reporting units within the reportable 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, 2023: Advanced Process Solutions Molding Technology Solutions Total Balance as of September 30, 2023 $ 1,394.9 $ 633.2 $ 2,028.1 Acquisition measurement period adjustments (12.1) — (12.1) Foreign currency adjustments 35.9 9.6 45.5 Balance as of December 31, 2023 $ 1,418.7 $ 642.8 $ 2,061.5 During the three months ended December 31, 2023 and 2022, 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, 2023
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 revolving credit facility (excluding outstanding letters of credit) $ 530.6 $ 505.1 $200 term loan 190.0 192.5 €185 term loan 203.0 195.0 $400 senior unsecured notes (1) 398.4 398.0 $375 senior unsecured notes (2) 373.0 372.9 $350 senior unsecured notes (3) 346.8 346.6 Total debt 2,041.8 2,010.1 Less: current portion 20.3 19.7 Total long-term debt $ 2,021.5 $ 1,990.4 (1) Includes unamortized debt issuance costs of $1.6 and $2.0 at December 31, 2023 and September 30, 2023, respectively. (2) Includes unamortized debt issuance costs of $1.7 and $1.8 at December 31, 2023 and September 30, 2023, respectively. (3) Includes unamortized debt issuance costs of $3.2 and $3.4 at December 31, 2023 and September 30, 2023, respectively. As of December 31, 2023, the Company had $20.8 in outstanding letters of credit issued and $448.6 of borrowing capacity under the Facility, all of which was immediately available based on the Company’s most restrictive covenant. The weighted-average interest rate on borrowings under the Facility was 5.84% and 2.23% for the three months ended December 31, 2023 and 2022, respectively. The weighted average facility fee on the Facility was 0.20% and 0.15% for the three months ended December 31, 2023 and 2022, respectively. The weighted-average interest rate on the $200 term loan was 5.60% and 5.43% for the three months ended December 31, 2023 and 2022, respectively. The weighted-average interest rate on the €185 term loan was 5.60% for the three months ended December 31, 2023. There were no borrowings on the €185 term loan during the three months ended December 31, 2022. Remaining unamortized deferred financing costs related to the Facility, $200 term loan and €185 term loan were $5.6 in aggregate, as of December 31, 2023, and are being amortized to interest expense over the remaining term of these agreements. In the normal course of business, the Company provides, primarily 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, 2023 and September 30, 2023, the Company had credit arrangements totaling $605.5 and $587.9, respectively, under which $356.4 and $326.9, respectively, were used for guarantees. These arrangements include the Company’s Syndicated L/G Facility Agreement (“L/G Facility”) and other ancillary credit facilities. Remaining unamortized deferred financing costs related to the L/G Facility were $1.5 as of December 31, 2023, and are being amortized to interest expense over the remaining term of the agreement. As of December 31, 2023, 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, 2023
Retirement Benefits [Abstract]
Retirement Benefits	Retirement Benefits Defined Benefit Plans Components of net periodic pension cost (benefit) 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, 2023 2022 2023 2022 Service costs $ — $ — $ 0.5 $ 0.5 Interest costs 2.0 2.8 1.1 0.9 Expected return on plan assets (2.7) (3.4) (0.4) (0.3) Amortization of net loss (gain) 0.1 0.1 (0.2) (0.2) Settlement charge 8.3 — — — Net periodic pension (benefit) cost $ 7.7 $ (0.5) $ 1.0 $ 0.9 On July 18, 2023, we announced an offer to provide former employees who are participants in the Company’s U.S. defined benefit pension plan (the “Plan”) the opportunity to elect a lump sum distribution of their earned Plan benefits. The Plan’s fiduciaries made lump sum payments to electing eligible participants in December 2023, funded by the existing assets in the Plan. As a result, the Company recorded a non-cash settlement pre-tax charge of $8.3 during the three months ended December 31, 2023. Defined Contribution Plans

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rates for the three months ended December 31, 2023 and 2022 were 33.9% and 7.9%, respectively. The increase in the effective tax rate was primarily driven by a non-recurring discrete tax benefit in the prior period resulting from the approval of a reduced incentive tax rate for certain operations located in China and a reduced discrete tax benefit for equity compensation as compared to the prior period, partially offset by a reduction of the tax accrual for unrepatriated earnings.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per share The dilutive effects of performance-based stock awards were included in the computation of diluted earnings per share at the level the related performance criteria were met through the respective Consolidated Balance Sheet date. Potential dilutive effects, representing approximately 440,000 and 400,000 shares at December 31, 2023 and 2022, respectively, were excluded from the computation of diluted earnings per share as the related performance criteria were not yet met, although the Company expects to meet various levels of criteria in the future. Three Months Ended 2023 2022 Income from continuing operations $ 19.5 $ 26.8 Less: Net income attributable to noncontrolling interests 2.0 2.3 Income from continuing operations attributable to Hillenbrand $ 17.5 $ 24.5 Weighted-average shares outstanding (basic - in millions) 70.3 69.4 Effect of dilutive stock options and other unvested equity awards (in millions) 0.2 0.4 Weighted-average shares outstanding (diluted - in millions) 70.5 69.8 Basic earnings per share from continuing operations attributable to Hillenbrand $ 0.25 $ 0.36 Diluted earnings per share from continuing operations attributable to Hillenbrand $ 0.25 $ 0.35 Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions) 0.6 0.5

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Dec. 31, 2023
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, 2023 $ (34.5) $ (107.1) $ (5.5) $ (147.1) Other comprehensive income before reclassifications: Before tax amount (0.4) 49.3 0.3 49.2 $ — $ 49.2 Tax benefit 0.2 — (0.1) 0.1 — 0.1 After tax amount (0.2) 49.3 0.2 49.3 — 49.3 Amounts reclassified from accumulated other comprehensive loss (2) 6.2 — 0.7 6.9 — 6.9 Net current period other comprehensive income 6.0 49.3 0.9 56.2 $ — $ 56.2 Balance at December 31, 2023 $ (28.5) $ (57.8) $ (4.6) $ (90.9) (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, 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 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, 2023 Amortization of Pension and (1) (Gain) Loss on Net Loss Prior Service Costs Derivative Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ (0.1) $ (0.1) Cost of goods sold — — 0.3 0.3 Operating expenses 8.2 — 0.5 8.7 Total before tax $ 8.2 $ — $ 0.7 $ 8.9 Tax expense (2.0) Total reclassifications for the period, net of tax $ 6.9 (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, 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) Operating expenses (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).

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Dec. 31, 2023
Compensation Related Costs [Abstract]
Share-Based Compensation	Share-Based Compensation Three Months Ended 2023 2022 Share-based compensation costs $ 5.2 $ 4.6 Less impact of income taxes 1.2 1.1 Share-based compensation costs, net of tax $ 4.0 $ 3.5 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, 2023, the Company made the following grants: Number of Time-based stock awards 276,548 Performance-based stock awards (maximum that can be earned) 472,835 The Company’s time-based stock awards and performance-based stock awards granted during the three months ended December 31, 2023, had weighted-average grant date fair values of $38.39 and $41.45, respectively. Included in the performance-based stock awards granted during the three months ended December 31, 2023 are 275,458 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.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2023
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, 2023
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 certain assets and liabilities. Carrying Value at December 31, 2023 Fair Value at December 31, 2023 Using Inputs Considered as: Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 198.4 $ 198.4 $ — $ — Restricted cash 1.2 1.2 — — Investments in rabbi trust 4.0 4.0 — — Derivative instruments 2.0 — 2.0 — Liabilities: Facility 530.6 — 530.6 — $200 term loan 190.0 — 190.0 — € 185 term loan 203.0 — 203.0 — $350 senior unsecured notes 350.0 305.2 — — $400 senior unsecured notes 400.0 400.1 — — $375 senior unsecured notes 374.8 371.1 — — Derivative instruments 1.2 — 1.2 — Carrying Value at September 30, 2023 Fair Value at September 30, 2023 Using Inputs Considered as: Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 242.9 $ 242.9 $ — $ — Restricted cash 7.3 7.3 — — Investments in rabbi trust 3.3 3.3 — — Derivative instruments 1.5 — 1.5 — Liabilities: Facility 505.1 — 505.1 — $200 term loan 192.5 — 192.5 — € 185 term loan 195.0 — 195.0 — $350 senior unsecured notes 350.0 281.6 — — $400 senior unsecured notes 400.0 395.1 — — $375 senior unsecured notes 374.7 355.0 — — Derivative instruments 1.7 — 1.7 — Valuation techniques • Cash and cash equivalents, restricted cash, 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, $200 term loan, and €185 term loan 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, $200 term loan, and €185 term loan, and therefore, are classified within Level 2 of the fair value hierarchy. • The fair values of the $350 senior unsecured notes, $400 senior unsecured notes and $375 senior unsecured notes were based on quoted prices in active markets and are classified within Level 1 of the fair value hierarchy. The Company does not adjust the quoted market prices for such financial instruments. 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 $181.0 and $164.6 at December 31, 2023 and September 30, 2023, respectively. The derivatives are recorded at fair value 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, 2023
Segment Reporting [Abstract]
Segment and Geographical Information	Segment and Geographical Information As previously described, on February 1, 2023, the Company completed the divestiture of Batesville. The operating results and cash flows for Batesville have been classified as discontinued operations within the Consolidated Financial Statements for all periods presented. 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, 2023 2022 Net revenue Advanced Process Solutions $ 568.3 $ 412.8 Molding Technology Solutions 205.0 242.9 Total $ 773.3 $ 655.7 Adjusted EBITDA (1) Advanced Process Solutions $ 96.0 $ 71.3 Molding Technology Solutions 32.1 43.1 Corporate (14.0) (13.1) Net revenue (2) United States $ 326.9 $ 232.9 China 91.9 120.2 India 57.9 52.4 Germany 59.1 44.5 All other countries 237.5 205.7 Total $ 773.3 $ 655.7 (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 $ 3,568.4 $ 3,525.5 Molding Technology Solutions 1,894.4 1,883.0 Corporate 122.1 139.2 Total $ 5,584.9 $ 5,547.7 Tangible long-lived assets, net United States $ 146.9 $ 134.1 Germany 142.2 136.0 China 39.0 38.9 India 36.9 38.1 All other countries 88.4 84.9 Total $ 453.4 $ 432.0 The following schedule reconciles reportable operating segment adjusted EBITDA to consolidated net income: Three Months Ended 2023 2022 Adjusted EBITDA: Advanced Process Solutions $ 96.0 $ 71.3 Molding Technology Solutions 32.1 43.1 Corporate (14.0) (13.1) Add: (Loss) income from discontinued operations (net of income tax expense) (0.3) 21.0 Less: Interest expense, net 29.8 21.5 Income tax expense 10.0 2.3 Depreciation and amortization 38.8 31.0 Pension settlement charge 8.3 — Business acquisition, divestiture, and integration costs 5.6 10.7 Inventory step-up charges 1.5 8.0 Restructuring and restructuring-related charges 0.6 1.0 Consolidated net income $ 19.2 $ 47.8

Restructuring

Restructuring	3 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Subsequent to December 31, 2023, the Company announced a program to reduce costs and improve operational efficiency as a result of the weaker than expected order patterns and continued softness in market demand within the Molding Technology Solutions reportable operating segment. As a result, and based on the information available at the date of the Form 10-Q filing, the Company expects to incur severance and other related costs of approximately $20.0 over the next 9 months. The Company expects that substantially all of these costs will result in future cash expenditures, and we anticipate these cash expenditures to be substantially paid by the end of fiscal 2025.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 17.2	$ 45.5

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On December 13, 2023, Nicholas R. Farrell, Senior Vice President, General Counsel and Secretary of the Company, adopted a trading arrangement for the sale of the Company’s common stock (a “Rule 10b5-1 Trading Plan”) that is intended to satisfy the affirmative defense conditions of Securities Exchange Act Rule 10b5-1(c). Mr. Farrell’s Rule 10b5-1 Trading Plan, which has a term of one (1) year, provides for 8,542 stock options to be exercised and sold, subject in each case to certain quantities and limit prices.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy	Recently adopted accounting standards In September 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50); Disclosure of Supplier Finance Program Obligations . ASU 2022-04 requires entities that use supplier finance programs to disclose information about the nature and potential magnitude of the programs, activity during the period, and changes from period to period. ASU 2022-04 does not affect the recognition, measurement, or consolidated financial statement presentation of obligations covered by supplier finance programs. The Company adopted ASU 2022-04 effective October 1, 2023. The adoption of ASU 2022-04 did not have a material effect on our Consolidated Financial Statements and related disclosures. See Note 6 for further details. Recently issued accounting standards In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . ASU 2023-07 requires additional disclosures pertaining to significant expenses and other items of an entity’s reportable operating segments. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 (fiscal 2025). Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-07 on the Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. ASU 2023-09 will be effective for annual periods beginning after December 15, 2024 (fiscal 2026). The Company is currently evaluating the impact of ASU 2023-09 on the Consolidated Financial Statements. No other new accounting pronouncements recently adopted or issued had or are expected to have a material impact on the Consolidated Financial Statements.
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 based upon historical experience.
Revenue Recognition, Deferred Revenue	Contract balances The balance in receivables from long-term manufacturing contracts at December 31, 2023 and September 30, 2023, was $287.2 and $260.2, respectively. The change was driven by the impact of net revenue recognized prior to billings to customers. The balance in the liabilities from long-term manufacturing contracts and advances at December 31, 2023 and September 30, 2023, was $387.1 and $388.5, 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, 2023 and 2022, related to liabilities from long-term manufacturing contracts and advances as of September 30, 2023 and 2022, was $116.4 and $91.4, respectively. During the three months ended December 31, 2023 and 2022, the adjustments related to performance obligations satisfied in previous periods were immaterial.

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition (Tables)	3 Months Ended
	Dec. 31, 2023
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, 2023 Three Months Ended December 31, 2022 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total End market Plastics and recycling $ 243.6 $ — $ 243.6 $ 240.8 $ — $ 240.8 Automotive — 40.7 40.7 — 49.2 49.2 Chemicals 45.4 — 45.4 24.7 — 24.7 Consumer goods — 28.3 28.3 — 33.1 33.1 Food and pharmaceuticals 182.8 — 182.8 103.8 — 103.8 Custom molders — 25.1 25.1 — 26.6 26.6 Packaging — 29.6 29.6 — 28.6 28.6 Construction 17.7 25.0 42.7 — 31.1 31.1 Minerals 20.0 — 20.0 13.8 — 13.8 Electronics — 12.9 12.9 — 15.9 15.9 Medical — 16.0 16.0 — 16.5 16.5 Other industrial 58.8 27.4 86.2 29.7 41.9 71.6 Total $ 568.3 $ 205.0 $ 773.3 $ 412.8 $ 242.9 $ 655.7 The following tables present net revenue by geography: Three Months Ended December 31, 2023 Three Months Ended December 31, 2022 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Geography (1) Americas $ 264.2 $ 109.9 $ 374.1 $ 138.5 $ 136.2 $ 274.7 Asia 146.3 60.5 206.8 148.7 68.2 216.9 Europe, the Middle East, and Africa 157.8 34.6 192.4 125.6 38.5 164.1 Total $ 568.3 $ 205.0 $ 773.3 $ 412.8 $ 242.9 $ 655.7 (1) The Company attributes net revenue to a geography based upon the location of the end customer. The following tables present net revenue by products and services: Three Months Ended December 31, 2023 Three Months Ended December 31, 2022 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Products and services Equipment $ 382.0 $ 127.2 $ 509.2 $ 305.3 $ 162.1 $ 467.4 Parts and services 186.3 62.8 249.1 107.5 64.6 172.1 Other — 15.0 15.0 — 16.2 16.2 Total $ 568.3 $ 205.0 $ 773.3 $ 412.8 $ 242.9 $ 655.7 The following tables present net revenue by timing of transfer: Three Months Ended December 31, 2023 Three Months Ended December 31, 2022 Advanced Process Solutions Molding Technology Solutions Total Advanced Process Solutions Molding Technology Solutions Total Timing of transfer Point in time $ 278.2 $ 186.4 $ 464.6 $ 220.2 $ 230.0 $ 450.2 Over time 290.1 18.6 308.7 192.6 12.9 205.5 Total $ 568.3 $ 205.0 $ 773.3 $ 412.8 $ 242.9 $ 655.7

Divestitures (Tables)

Divestitures (Tables)	3 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued 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, 2023 2022 Net revenue $ — $ 156.0 Cost of goods sold — 103.7 Gross profit — 52.3 Operating expenses 0.3 20.9 (Loss) income from discontinued operations before income taxes (0.3) 31.4 Income tax expense — 10.4 (Loss) income from discontinued operations (net of income tax expense) $ (0.3) $ 21.0

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Dec. 31, 2023
Business Combinations [Abstract]
Schedule of Business Acquisition	The following table summarizes the final fair values of assets acquired and liabilities assumed as of the acquisition date: December 1, 2022 (as initially reported) Measurement Period Adjustments December 1, 2022 (as adjusted) Assets acquired: Current assets $ 16.2 $ 0.9 $ 17.1 Property, plant, and equipment 2.3 — 2.3 Intangible assets — 25.3 25.3 Goodwill 50.9 (27.0) 23.9 Total assets acquired 69.4 (0.8) 68.6 Liabilities assumed: Current liabilities 9.5 (0.1) 9.4 Total liabilities assumed 9.5 (0.1) 9.4 Net assets acquired $ 59.9 $ (0.7) $ 59.2
Schedule of Business Acquisition Pro Forma Information	The supplemental pro forma financial information for the historical period presented is as follows: Three months ended December 31, 2022 Net revenue $ 813.5 Income from continuing operations attributable to Hillenbrand 21.2 Income from continuing operations attributable to Hillenbrand — per share of common stock: Basic earnings per share from continuing operations $ 0.31 Diluted earnings per share from continuing operations $ 0.30
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	Based on current fair value estimates, the preliminary purchase price for FPM has been allocated to individual assets acquired and liabilities assumed as of the acquisition date: September 1, 2023 (as initially reported) Measurement Period Adjustments September 1, 2023 Assets acquired: Cash and cash equivalents $ 17.3 $ — $ 17.3 Trade receivables 65.2 (1.6) 63.6 Receivables from long-term manufacturing contracts 22.4 — 22.4 Inventories 64.8 (0.5) 64.3 Prepaid expenses and other current assets 10.3 — 10.3 Property, plant, and equipment 27.3 14.9 42.2 Operating lease right-of-use assets 11.0 3.5 14.5 Intangible assets 338.0 0.4 338.4 Goodwill 476.5 (12.4) 464.1 Other non-current assets 2.7 (1.0) 1.7 Total assets acquired 1,035.5 3.3 1,038.8 Liabilities assumed: Trade accounts payable 59.4 (2.4) 57.0 Liabilities from long-term manufacturing contracts 86.6 — 86.6 Accrued compensation 13.5 — 13.5 Other current liabilities 45.7 1.1 46.8 Operating lease liabilities 9.5 — 9.5 Deferred income taxes 69.0 4.6 73.6 Other non-current liabilities 3.1 — 3.1 Total liabilities assumed 286.8 3.3 290.1 Net assets acquired $ 748.7 $ — $ 748.7

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Schedule of supplemental balance sheet information	December 31, September 30, Allowance for credit losses $ 10.4 $ 10.1 Warranty reserves $ 37.0 $ 35.8 Accumulated depreciation on property, plant, and equipment $ 243.0 $ 226.7 Inventories, net: Raw materials and components $ 295.4 $ 285.2 Work in process 129.9 135.0 Finished goods 182.2 172.4 Total inventories, net $ 607.5 $ 592.6 Other current liabilities: Income tax payable $ 76.5 $ 72.8 Other current liabilities 239.7 258.9 Total other current liabilities $ 316.2 $ 331.7 The following table provides a reconciliation of cash and 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, 2023 December 31, 2022 Cash and cash equivalents $ 198.4 $ 193.9 Cash and cash equivalents held for sale — 0.9 Short-term restricted cash included in other current assets 1.2 1.0 Total cash and cash equivalents, restricted cash, and cash and cash equivalents held for sale shown in the Consolidated Statements of Cash Flows $ 199.6 $ 195.8 Supplier Finance Program The Company has agreements with third-party financial institutions to facilitate supply chain finance (“SCF”) programs. The SCF programs allow qualifying suppliers to sell their receivables, on an invoice level at the selection of the supplier, from the Company to the financial institutions and negotiate their outstanding receivable arrangements and associated fees directly with the financial institutions. Hillenbrand is not party to the agreements between the supplier and the financial institutions. The supplier invoices that have been confirmed as valid under the SCF programs require payment in full by the financial institutions to the supplier by the original maturity date of the invoice, or discounted payment at an earlier date as agreed upon with the supplier. The Company’s obligations to its suppliers, including amounts due and scheduled payment terms, are not impacted by a supplier’s participation in the SCF programs. All outstanding amounts related to suppliers participating in the SCF programs are recorded upon confirmation with the third-party financial institutions in trade accounts payable in the Consolidated Balance Sheets, and associated payments are included in cash used in operating activities in the Consolidated Statements of Cash Flows. The Company’s outstanding obligations included in trade accounts payable as of December 31, 2023 and September 30, 2023, were $29.4 and $29.1, respectively. Trade Receivables Financing During the three months ended December 31, 2023, the Company executed an amendment of its trade receivables financing arrangement (as amended, the “Amended Arrangement”) with a financial institution. In accordance with ASC 869, Transfers and Servicing , this Amended Arrangement is deemed a true sale, as the Company retains no rights or interest and has no

Leases (Tables)

Leases (Tables)	3 Months Ended
	Dec. 31, 2023
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, 2023 September 30, 2023 Operating lease right-of-use assets, net $ 118.8 $ 111.3 Other current liabilities 19.2 18.6 Operating lease liabilities 92.0 88.1 Total operating lease liabilities $ 111.2 $ 106.7 Weighted-average remaining lease term (in years) 6.9 7.1 Weighted-average discount rate 3.9 % 3.8 %
Schedule of Operating Lease Liability Maturities	As of December 31, 2023, the maturities of the Company’s operating lease liabilities were as follows: 2024 (excluding the three months ended December 31, 2023) $ 18.5 2025 21.7 2026 18.0 2027 15.1 2028 13.6 Thereafter 38.7 Total lease payments 125.6 Less: imputed interest (14.4) Total present value of lease payments $ 111.2
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, 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 6.8 $ 5.6 Operating lease right-of-use assets, net obtained in exchange for new operating lease liabilities 4.9 1.8 Operating leases acquired in acquisitions 3.5 15.0

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Dec. 31, 2023
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, 2023 September 30, 2023 Cost Accumulated Cost Accumulated Finite-lived assets: Customer relationships $ 1,312.9 $ (317.6) $ 1,290.2 $ (291.4) Technology, including patents 196.2 (89.2) 192.3 (83.1) Software 51.3 (33.4) 41.7 (31.7) Trade names 47.9 (5.7) 41.9 (4.2) 1,608.3 (445.9) 1,566.1 (410.4) Indefinite-lived assets: Trade names 224.1 — 221.4 — Total $ 1,832.4 $ (445.9) $ 1,787.5 $ (410.4)
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, 2023: Advanced Process Solutions Molding Technology Solutions Total Balance as of September 30, 2023 $ 1,394.9 $ 633.2 $ 2,028.1 Acquisition measurement period adjustments (12.1) — (12.1) Foreign currency adjustments 35.9 9.6 45.5 Balance as of December 31, 2023 $ 1,418.7 $ 642.8 $ 2,061.5

Financing Agreements (Tables)

Financing Agreements (Tables)	3 Months Ended
	Dec. 31, 2023
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 revolving credit facility (excluding outstanding letters of credit) $ 530.6 $ 505.1 $200 term loan 190.0 192.5 €185 term loan 203.0 195.0 $400 senior unsecured notes (1) 398.4 398.0 $375 senior unsecured notes (2) 373.0 372.9 $350 senior unsecured notes (3) 346.8 346.6 Total debt 2,041.8 2,010.1 Less: current portion 20.3 19.7 Total long-term debt $ 2,021.5 $ 1,990.4 (1) Includes unamortized debt issuance costs of $1.6 and $2.0 at December 31, 2023 and September 30, 2023, respectively. (2) Includes unamortized debt issuance costs of $1.7 and $1.8 at December 31, 2023 and September 30, 2023, respectively. (3) Includes unamortized debt issuance costs of $3.2 and $3.4 at December 31, 2023 and September 30, 2023, respectively.

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Components of net pension costs	Components of net periodic pension cost (benefit) 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, 2023 2022 2023 2022 Service costs $ — $ — $ 0.5 $ 0.5 Interest costs 2.0 2.8 1.1 0.9 Expected return on plan assets (2.7) (3.4) (0.4) (0.3) Amortization of net loss (gain) 0.1 0.1 (0.2) (0.2) Settlement charge 8.3 — — — Net periodic pension (benefit) cost $ 7.7 $ (0.5) $ 1.0 $ 0.9

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	Three Months Ended 2023 2022 Income from continuing operations $ 19.5 $ 26.8 Less: Net income attributable to noncontrolling interests 2.0 2.3 Income from continuing operations attributable to Hillenbrand $ 17.5 $ 24.5 Weighted-average shares outstanding (basic - in millions) 70.3 69.4 Effect of dilutive stock options and other unvested equity awards (in millions) 0.2 0.4 Weighted-average shares outstanding (diluted - in millions) 70.5 69.8 Basic earnings per share from continuing operations attributable to Hillenbrand $ 0.25 $ 0.36 Diluted earnings per share from continuing operations attributable to Hillenbrand $ 0.25 $ 0.35 Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions) 0.6 0.5

Other Comprehensive Income (Los

Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Dec. 31, 2023
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, 2023 $ (34.5) $ (107.1) $ (5.5) $ (147.1) Other comprehensive income before reclassifications: Before tax amount (0.4) 49.3 0.3 49.2 $ — $ 49.2 Tax benefit 0.2 — (0.1) 0.1 — 0.1 After tax amount (0.2) 49.3 0.2 49.3 — 49.3 Amounts reclassified from accumulated other comprehensive loss (2) 6.2 — 0.7 6.9 — 6.9 Net current period other comprehensive income 6.0 49.3 0.9 56.2 $ — $ 56.2 Balance at December 31, 2023 $ (28.5) $ (57.8) $ (4.6) $ (90.9) (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, 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 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, 2023 Amortization of Pension and (1) (Gain) Loss on Net Loss Prior Service Costs Derivative Total Affected Line in the Consolidated Statement of Operations: Net revenue $ — $ — $ (0.1) $ (0.1) Cost of goods sold — — 0.3 0.3 Operating expenses 8.2 — 0.5 8.7 Total before tax $ 8.2 $ — $ 0.7 $ 8.9 Tax expense (2.0) Total reclassifications for the period, net of tax $ 6.9 (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, 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) Operating expenses (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).

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2023
Compensation Related Costs [Abstract]
Schedule of stock-based compensation costs	Three Months Ended 2023 2022 Share-based compensation costs $ 5.2 $ 4.6 Less impact of income taxes 1.2 1.1 Share-based compensation costs, net of tax $ 4.0 $ 3.5
Schedule of stock-based awards granted in the period	During the three months ended December 31, 2023, the Company made the following grants: Number of Time-based stock awards 276,548 Performance-based stock awards (maximum that can be earned) 472,835

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2023
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, 2023 Fair Value at December 31, 2023 Using Inputs Considered as: Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 198.4 $ 198.4 $ — $ — Restricted cash 1.2 1.2 — — Investments in rabbi trust 4.0 4.0 — — Derivative instruments 2.0 — 2.0 — Liabilities: Facility 530.6 — 530.6 — $200 term loan 190.0 — 190.0 — € 185 term loan 203.0 — 203.0 — $350 senior unsecured notes 350.0 305.2 — — $400 senior unsecured notes 400.0 400.1 — — $375 senior unsecured notes 374.8 371.1 — — Derivative instruments 1.2 — 1.2 — Carrying Value at September 30, 2023 Fair Value at September 30, 2023 Using Inputs Considered as: Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 242.9 $ 242.9 $ — $ — Restricted cash 7.3 7.3 — — Investments in rabbi trust 3.3 3.3 — — Derivative instruments 1.5 — 1.5 — Liabilities: Facility 505.1 — 505.1 — $200 term loan 192.5 — 192.5 — € 185 term loan 195.0 — 195.0 — $350 senior unsecured notes 350.0 281.6 — — $400 senior unsecured notes 400.0 395.1 — — $375 senior unsecured notes 374.7 355.0 — — Derivative instruments 1.7 — 1.7 —

Segment and Geographical Info_2

Segment and Geographical Information (Tables)	3 Months Ended
	Dec. 31, 2023
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, 2023 2022 Net revenue Advanced Process Solutions $ 568.3 $ 412.8 Molding Technology Solutions 205.0 242.9 Total $ 773.3 $ 655.7 Adjusted EBITDA (1) Advanced Process Solutions $ 96.0 $ 71.3 Molding Technology Solutions 32.1 43.1 Corporate (14.0) (13.1) Net revenue (2) United States $ 326.9 $ 232.9 China 91.9 120.2 India 57.9 52.4 Germany 59.1 44.5 All other countries 237.5 205.7 Total $ 773.3 $ 655.7 (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)
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	December 31, September 30, Total assets Advanced Process Solutions $ 3,568.4 $ 3,525.5 Molding Technology Solutions 1,894.4 1,883.0 Corporate 122.1 139.2 Total $ 5,584.9 $ 5,547.7 Tangible long-lived assets, net United States $ 146.9 $ 134.1 Germany 142.2 136.0 China 39.0 38.9 India 36.9 38.1 All other countries 88.4 84.9 Total $ 453.4 $ 432.0
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 2023 2022 Adjusted EBITDA: Advanced Process Solutions $ 96.0 $ 71.3 Molding Technology Solutions 32.1 43.1 Corporate (14.0) (13.1) Add: (Loss) income from discontinued operations (net of income tax expense) (0.3) 21.0 Less: Interest expense, net 29.8 21.5 Income tax expense 10.0 2.3 Depreciation and amortization 38.8 31.0 Pension settlement charge 8.3 — Business acquisition, divestiture, and integration costs 5.6 10.7 Inventory step-up charges 1.5 8.0 Restructuring and restructuring-related charges 0.6 1.0 Consolidated net income $ 19.2 $ 47.8

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, 2023 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
Proceeds from sale of business segment	$ 698

Revenue Recognition Narrative (

Revenue Recognition Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Receivables from long-term manufacturing contracts, net	$ 287.2		$ 260.2
Liabilities from long-term manufacturing contracts and advances	387.1		$ 388.5
Revenue recognized on long-term manufacturing contracts and advances liabilities	$ 116.4	$ 91.4

Revenue Recognition Revenue Rem

Revenue Recognition Revenue Remaining Performance Obligation Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 2,147.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Remaining performance obligation expected to be recognized in the given period (as a percent)	80%

Revenue Recognition Revenue by

Revenue Recognition Revenue by End Market (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Net revenue	$ 773.3	$ 655.7
Plastics and recycling
Disaggregation of Revenue [Line Items]
Net revenue	243.6	240.8
Automotive
Disaggregation of Revenue [Line Items]
Net revenue	40.7	49.2
Chemicals
Disaggregation of Revenue [Line Items]
Net revenue	45.4	24.7
Consumer goods
Disaggregation of Revenue [Line Items]
Net revenue	28.3	33.1
Food and pharmaceuticals
Disaggregation of Revenue [Line Items]
Net revenue	182.8	103.8
Custom molders
Disaggregation of Revenue [Line Items]
Net revenue	25.1	26.6
Packaging
Disaggregation of Revenue [Line Items]
Net revenue	29.6	28.6
Construction
Disaggregation of Revenue [Line Items]
Net revenue	42.7	31.1
Minerals
Disaggregation of Revenue [Line Items]
Net revenue	20	13.8
Electronics
Disaggregation of Revenue [Line Items]
Net revenue	12.9	15.9
Medical
Disaggregation of Revenue [Line Items]
Net revenue	16	16.5
Other industrial
Disaggregation of Revenue [Line Items]
Net revenue	86.2	71.6
Advanced Process Solutions
Disaggregation of Revenue [Line Items]
Net revenue	568.3	412.8
Advanced Process Solutions | Plastics and recycling
Disaggregation of Revenue [Line Items]
Net revenue	243.6	240.8
Advanced Process Solutions | Automotive
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Advanced Process Solutions | Chemicals
Disaggregation of Revenue [Line Items]
Net revenue	45.4	24.7
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	182.8	103.8
Advanced Process Solutions | Custom molders
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 | Construction
Disaggregation of Revenue [Line Items]
Net revenue	17.7	0
Advanced Process Solutions | Minerals
Disaggregation of Revenue [Line Items]
Net revenue	20	13.8
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	58.8	29.7
Molding Technology Solutions
Disaggregation of Revenue [Line Items]
Net revenue	205	242.9
Molding Technology Solutions | Plastics and recycling
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions | Automotive
Disaggregation of Revenue [Line Items]
Net revenue	40.7	49.2
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	28.3	33.1
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	25.1	26.6
Molding Technology Solutions | Packaging
Disaggregation of Revenue [Line Items]
Net revenue	29.6	28.6
Molding Technology Solutions | Construction
Disaggregation of Revenue [Line Items]
Net revenue	25	31.1
Molding Technology Solutions | Minerals
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions | Electronics
Disaggregation of Revenue [Line Items]
Net revenue	12.9	15.9
Molding Technology Solutions | Medical
Disaggregation of Revenue [Line Items]
Net revenue	16	16.5
Molding Technology Solutions | Other industrial
Disaggregation of Revenue [Line Items]
Net revenue	$ 27.4	$ 41.9

Revenue Recognition by Geograph

Revenue Recognition by Geographic Markets (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Net revenue	$ 773.3	$ 655.7
Americas
Disaggregation of Revenue [Line Items]
Net revenue	374.1	274.7
Asia
Disaggregation of Revenue [Line Items]
Net revenue	206.8	216.9
Europe, the Middle East, and Africa
Disaggregation of Revenue [Line Items]
Net revenue	192.4	164.1
Advanced Process Solutions
Disaggregation of Revenue [Line Items]
Net revenue	568.3	412.8
Advanced Process Solutions | Americas
Disaggregation of Revenue [Line Items]
Net revenue	264.2	138.5
Advanced Process Solutions | Asia
Disaggregation of Revenue [Line Items]
Net revenue	146.3	148.7
Advanced Process Solutions | Europe, the Middle East, and Africa
Disaggregation of Revenue [Line Items]
Net revenue	157.8	125.6
Molding Technology Solutions
Disaggregation of Revenue [Line Items]
Net revenue	205	242.9
Molding Technology Solutions | Americas
Disaggregation of Revenue [Line Items]
Net revenue	109.9	136.2
Molding Technology Solutions | Asia
Disaggregation of Revenue [Line Items]
Net revenue	60.5	68.2
Molding Technology Solutions | Europe, the Middle East, and Africa
Disaggregation of Revenue [Line Items]
Net revenue	$ 34.6	$ 38.5

Revenue Recognition Timing of T

Revenue Recognition Timing of Transfer (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Net revenue	$ 773.3	$ 655.7
Point in time
Disaggregation of Revenue [Line Items]
Net revenue	464.6	450.2
Over time
Disaggregation of Revenue [Line Items]
Net revenue	308.7	205.5
Advanced Process Solutions
Disaggregation of Revenue [Line Items]
Net revenue	568.3	412.8
Advanced Process Solutions | Point in time
Disaggregation of Revenue [Line Items]
Net revenue	278.2	220.2
Advanced Process Solutions | Over time
Disaggregation of Revenue [Line Items]
Net revenue	290.1	192.6
Molding Technology Solutions
Disaggregation of Revenue [Line Items]
Net revenue	205	242.9
Molding Technology Solutions | Point in time
Disaggregation of Revenue [Line Items]
Net revenue	186.4	230
Molding Technology Solutions | Over time
Disaggregation of Revenue [Line Items]
Net revenue	$ 18.6	$ 12.9

Revenue Recognition Product and

Revenue Recognition Product and Services (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Net revenue	$ 773.3	$ 655.7
Equipment
Disaggregation of Revenue [Line Items]
Net revenue	509.2	467.4
Parts and services
Disaggregation of Revenue [Line Items]
Net revenue	249.1	172.1
Other
Disaggregation of Revenue [Line Items]
Net revenue	15	16.2
Advanced Process Solutions
Disaggregation of Revenue [Line Items]
Net revenue	568.3	412.8
Advanced Process Solutions | Equipment
Disaggregation of Revenue [Line Items]
Net revenue	382	305.3
Advanced Process Solutions | Parts and services
Disaggregation of Revenue [Line Items]
Net revenue	186.3	107.5
Advanced Process Solutions | Other
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Molding Technology Solutions
Disaggregation of Revenue [Line Items]
Net revenue	205	242.9
Molding Technology Solutions | Equipment
Disaggregation of Revenue [Line Items]
Net revenue	127.2	162.1
Molding Technology Solutions | Parts and services
Disaggregation of Revenue [Line Items]
Net revenue	62.8	64.6
Molding Technology Solutions | Other
Disaggregation of Revenue [Line Items]
Net revenue	$ 15	$ 16.2

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, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue	$ 0	$ 156
Cost of goods sold	0	103.7
Gross profit	0	52.3
Operating expenses	0.3	20.9
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax	(0.3)	31.4
Income tax expense	0	10.4
(Loss) income from discontinued operations (net of income tax expense)	(0.3)	21
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	$ (0.3)	$ 21

Divestitures - Summary of Major

Divestitures - Summary of Major Categories of Assets and Liabilities Held for Sale (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disposal Group, Including Discontinued Operation, Assets, Current [Abstract]
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	$ 0	$ 0.9

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) € in Millions					3 Months Ended
	Sep. 01, 2023 USD ($)	Dec. 01, 2022 USD ($)	Oct. 06, 2022 USD ($)	Oct. 06, 2022 EUR (€)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Oct. 06, 2022 EUR (€)
Business Acquisition [Line Items]
Long-term debt					$ 2,041,800,000	$ 2,010,100,000
Schenck Process Foods and Performance Materials
Business Acquisition [Line Items]
Payments to acquire business, gross	$ 748,700,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 338,000,000				$ 338,400,000
Weighted average cost of capital (as a percent)					12%
Peerless Food Equipment
Business Acquisition [Line Items]
Business combination, consideration transferred		$ 59,200,000
Acquisition expenses					$ 1.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					$ 25,300,000
Weighted average cost of capital (as a percent)					13%
Net assets acquired		$ 59,900,000			$ 59,200,000
Linxis
Business Acquisition [Line Items]
Payments to acquire business, gross			$ 590,800,000	€ 596.2
Enterprise value			$ 566,800,000				€ 572

Acquisitions - Schedule of Aggr

Acquisitions - Schedule of Aggregate Purchase Price Consideration (Details) - USD ($)		3 Months Ended	4 Months Ended
	Dec. 01, 2022	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Sep. 01, 2023
Business Acquisition [Line Items]
Goodwill		$ 2,061,500,000	$ 2,061,500,000		$ 2,028,100,000
Goodwill, Purchase Accounting Adjustments		(12,100,000)
Peerless Food Equipment
Business Acquisition [Line Items]
Current assets	$ 16,200,000	17,100,000	17,100,000
Property, plant, and equipment	2,300,000	2,300,000	2,300,000
Goodwill	50,900,000	23,900,000	23,900,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		25,300,000	25,300,000
Total assets acquired	69,400,000	68,600,000	68,600,000
Current liabilities	9,500,000	9,400,000	9,400,000
Total liabilities assumed	9,500,000	9,400,000	9,400,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Assets, Net				$ (700,000)
Net assets acquired	59,900,000	59,200,000	59,200,000
Business combination, consideration transferred	$ 59,200,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Current Assets				900,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles				25,300,000
Goodwill, Purchase Accounting Adjustments				(27,000,000)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Assets				(800,000)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Current Liabilities				(100,000)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Liabilities				$ (100,000)
Schenck Process Foods and Performance Materials
Business Acquisition [Line Items]
Property, plant, and equipment		42,200,000	42,200,000			$ 27,300,000
Goodwill		464,100,000	464,100,000			476,500,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		17,300,000	17,300,000			17,300,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Trade Receivables			(1,600,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		63,600,000	63,600,000			65,200,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets, Receivables		22,400,000	22,400,000			22,400,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory			(500,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		64,300,000	64,300,000			64,800,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets		10,300,000	10,300,000			10,300,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Operating Lease, Right Of Use Assets		14,500,000	14,500,000			11,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		338,400,000	338,400,000			338,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		1,700,000	1,700,000			2,700,000
Total assets acquired		1,038,800,000	1,038,800,000			1,035,500,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		57,000,000	57,000,000			59,400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Accounts Payable		86,600,000	86,600,000			86,600,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Accrued Compensation		13,500,000	13,500,000			13,500,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Other Current Liabilities			1,100,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other		46,800,000	46,800,000			45,700,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Operating Lease, Liability		9,500,000	9,500,000			9,500,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Deferred Income Taxes			4,600,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities		73,600,000	73,600,000			69,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other		3,100,000	3,100,000			3,100,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities			(2,400,000)
Total liabilities assumed		290,100,000	290,100,000			286,800,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 748,700,000	748,700,000			$ 748,700,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Current Assets			(1,000,000)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment			14,900,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Operating Lease Right-of-Use Assets			3,500,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles			400,000
Goodwill, Purchase Accounting Adjustments			(12,400,000)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Assets			3,300,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Liabilities			$ 3,300,000

Acquisitions - Schedule of Inta

Acquisitions - Schedule of Intangible Assets Acquired (Details) - USD ($)			3 Months Ended
	Sep. 01, 2023	Oct. 06, 2022	Dec. 31, 2023
Peerless Food Equipment
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired		$ 25,300,000
Indefinite-lived Intangible Assets Acquired			$ 25.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			25,300,000
Peerless Food Equipment | Customer relationships
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired		$ 22,000,000
Weighted-Average Useful Life		13 years
Peerless Food Equipment | Trade names
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired		$ 3,300,000
Weighted-Average Useful Life		10 years
Schenck Process Foods and Performance Materials
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 338,400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	338,000,000		$ 338,400,000
Schenck Process Foods and Performance Materials | Customer relationships
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 285,000,000
Weighted-Average Useful Life	15 years
Schenck Process Foods and Performance Materials | Trade names
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 4,400,000
Weighted-Average Useful Life	5 years
Schenck Process Foods and Performance Materials | Software
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 48,000,000
Weighted-Average Useful Life	12 years
Schenck Process Foods and Performance Materials | Other
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 1,000,000

Acquisitions - Schedule of Resu

Acquisitions - Schedule of Results of Operations After Acquisition (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Net revenue	$ 773.3	$ 655.7
Peerless Food Equipment
Business Acquisition [Line Items]
Net revenue	7.1	4
Income before income taxes	0.5	$ 1.1
Schenck Process Foods and Performance Materials
Business Acquisition [Line Items]
Net revenue	146
Income before income taxes	$ 14.1

Acquisitions - Schedule of Supp

Acquisitions - Schedule of Supplemental Pro Forma Financial Information (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2022 USD ($) $ / shares
Business Combinations [Abstract]
Net revenue | $	$ 813.5
Income from continuing operations attributable to Hillenbrand | $	$ 21.2
Earnings per share
Basic earnings per share | $ / shares	$ 0.31
Diluted earnings per share | $ / shares	$ 0.30

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information - Schedule of supplemental balance sheet information (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Balance Sheet Related Disclosures [Abstract]
Allowance for credit losses	$ 10.4	$ 10.1
Warranty reserves	37	35.8
Accumulated depreciation on property, plant, and equipment	243	226.7
Inventories, net:
Raw materials and components	295.4	285.2
Work in process	129.9	135
Finished goods	182.2	172.4
Total inventories, net	607.5	592.6
Accrued Income Taxes, Current	76.5	72.8
Additional Other Current Liabilities	239.7	258.9
Other current liabilities	316.2	331.7
Cash and cash equivalents	198.4		$ 193.9
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	0		0.9
Restricted Cash and Cash Equivalents	1.2		1
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 199.6	$ 250.2	$ 195.8	$ 237.6

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Trade receivables, net	$ 352.5		$ 398.7
Trade Accounts Receivable
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Sale of Other Receivables	61.3	$ 0
Trade receivables, net	30.4		0
Supplier Finance Program
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Contractual Obligation	$ 29.4		$ 29.1

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease expense	$ 8.5	$ 7.1

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Leases [Abstract]
Operating lease right-of-use assets, net	$ 118.8	$ 111.3
Other current liabilities	19.2	18.6
Operating lease liabilities	92	88.1
Total operating lease liabilities	$ 111.2	$ 106.7
Weighted-average remaining lease term (in years)	6 years 10 months 24 days	7 years 1 month 6 days
Weighted-average discount rate	3.90%	3.80%

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Liability Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Leases [Abstract]
2024 (excluding the three months ended December 31, 2023)	$ 18.5
2022	21.7
2023	18
2024	13.6
Thereafter	38.7
Total lease payments	125.6
Less: imputed interest	(14.4)
Total present value of lease payments	111.2	$ 106.7
2022	$ 15.1

Leases - Schedule fo Supplement

Leases - Schedule fo Supplemental Statement of Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 6.8	$ 5.6
Operating lease right-of-use assets, net obtained in exchange for new operating lease liabilities	4.9	1.8
Operating leases acquired in acquisitions	$ 3.5	$ 15

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Narrative (Details)	Dec. 31, 2023
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, 2023	Sep. 30, 2023
Intangible Assets [Line Items]
Cost	$ 1,608.3	$ 1,566.1
Accumulated Amortization	(445.9)	(410.4)
Total	1,832.4	1,787.5
Trade names
Intangible Assets [Line Items]
Indefinite-lived assets:	224.1	221.4
Customer relationships
Intangible Assets [Line Items]
Cost	1,312.9	1,290.2
Accumulated Amortization	(317.6)	(291.4)
Trade names
Intangible Assets [Line Items]
Cost	196.2	192.3
Accumulated Amortization	(89.2)	(83.1)
Software
Intangible Assets [Line Items]
Cost	51.3	41.7
Accumulated Amortization	(33.4)	(31.7)
Trade names
Intangible Assets [Line Items]
Cost	47.9	41.9
Accumulated Amortization	$ (5.7)	$ (4.2)

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Goodwill (Details) $ in Millions	3 Months Ended
	Dec. 31, 2023 USD ($)
Goodwill [Roll Forward]
Balance at the beginning of the period	$ 2,028.1
Acquisition measurement period adjustments	(12.1)
Foreign currency adjustments	45.5
Balance at the end of the period	2,061.5
Advanced Process Solutions
Goodwill [Roll Forward]
Balance at the beginning of the period	1,394.9
Acquisition measurement period adjustments	(12.1)
Foreign currency adjustments	35.9
Balance at the end of the period	1,418.7
Molding Technology Solutions
Goodwill [Roll Forward]
Balance at the beginning of the period	633.2
Acquisition measurement period adjustments	0
Foreign currency adjustments	9.6
Balance at the end of the period	$ 642.8

Financing Agreements - Schedule

Financing Agreements - Schedule of borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Debt Instrument [Line Items]
Total debt	$ 2,041.8	$ 2,010.1
Current portion of long-term debt	20.3	19.7
Long-term debt	2,021.5	1,990.4
$1,000 revolving credit facility (excluding outstanding letters of credit)
Debt Instrument [Line Items]
Total debt	530.6	505.1
$200 term loan
Debt Instrument [Line Items]
Total debt	190	192.5
$400 senior unsecured notes (1)
Debt Instrument [Line Items]
Total debt	398.4	398
Debt Issuance Costs, Line of Credit Arrangements, Gross	1.6	2
$375 senior unsecured notes (2)
Debt Instrument [Line Items]
Total debt	373	372.9
Debt Issuance Costs, Line of Credit Arrangements, Gross	1.7	1.8
$350 senior unsecured notes (3)
Debt Instrument [Line Items]
Total debt	346.8	346.6
Debt Issuance Costs, Line of Credit Arrangements, Gross	3.2	3.4
Term Loan | Term Loan 225 Million
Debt Instrument [Line Items]
Total debt	$ 203	$ 195

Financing Agreements - Narrativ

Financing Agreements - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Debt Instrument [Line Items]
Long-term debt	$ 2,041,800,000		$ 2,010,100,000
$200 term loan
Debt Instrument [Line Items]
Long-term debt	$ 190,000,000		192,500,000
$200 term loan | Debt Instrument, Tranche One
Debt Instrument [Line Items]
Weighted-average interest rates	5.60%
$200 term loan | Debt Instrument, Tranche Two
Debt Instrument [Line Items]
Weighted-average interest rates	5.43%
$1,000 revolving credit facility (excluding outstanding letters of credit)
Debt Instrument [Line Items]
Long-term debt	$ 530,600,000		505,100,000
Letters of credit outstanding, amount	20,800,000
Line of credit facility, remaining borrowing capacity	$ 448,600,000
Weighted average facility fee	0.20%	0.15%
$1,000 revolving credit facility (excluding outstanding letters of credit) | Debt Instrument, Tranche One
Debt Instrument [Line Items]
Weighted-average interest rates	5.84%
$1,000 revolving credit facility (excluding outstanding letters of credit) | Debt Instrument, Tranche Two
Debt Instrument [Line Items]
Weighted-average interest rates	2.23%
Other Financing Agreements
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 605,500,000		587.9
Line of credit facility, amount utilized for bank guarantees	356,400,000		326.9
$400 senior unsecured notes (1)
Debt Instrument [Line Items]
Long-term debt	398,400,000		398,000,000
$375 senior unsecured notes (2)
Debt Instrument [Line Items]
Long-term debt	$ 373,000,000		$ 372,900,000

Retirement Benefits (Details)

Retirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Settlement charge	$ (8.3)	$ 0
U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service costs	0	0
Interest costs	2	2.8
Expected return on plan assets	(2.7)	(3.4)
Amortization of net loss (gain)	0.1	0.1
Settlement charge	(8.3)	0
Net periodic pension (benefit) cost	7.7	(0.5)
Non-U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service costs	0.5	0.5
Interest costs	1.1	0.9
Expected return on plan assets	(0.4)	(0.3)
Amortization of net loss (gain)	(0.2)	(0.2)
Settlement charge	0	0
Net periodic pension (benefit) cost	$ 1	$ 0.9

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Defined contribution plan expense	$ 2.9	$ 2.9

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	33.90%	7.90%

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Antidilutive securities excluded from computation of earnings per share [Line Items]
Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions)	600,000	500,000
Performance-based stock awards (maximum that can be earned)
Antidilutive securities excluded from computation of earnings per share [Line Items]
Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions)	440,000	400,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Income from continuing operations	$ 19.5	$ 26.8
Less: Net income attributable to noncontrolling interests	2	2.3
Income from continuing operations attributable to Hillenbrand	$ 17.5	$ 24.5
Weighted average shares outstanding (basic)	70.3	69.4
Effect of dilutive stock options and other unvested equity awards (in millions)	0.2	0.4
Weighted-average shares outstanding (diluted - in millions)	70.5	69.8
Income from continuing operations attributable to Hillenbrand (in dollars per share)	$ 0.25	$ 0.36
Income from continuing operations attributable to Hillenbrand (in dollars per share)	$ 0.25	$ 0.35
Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions)	0.6	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, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	$ (147.1)
Other comprehensive income before reclassifications
Before tax amount	49.2	$ 47.7
Tax expense	0.1	(1.3)
After tax amount	49.3	46.4
Amounts reclassified from accumulated other comprehensive loss (2)	6.9	0.1
Total changes in other comprehensive income, net of tax	56.2	46.5
Balance at the end of the period	(90.9)
Pension and Postretirement
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(34.5)	(32.8)
Other comprehensive income before reclassifications
Before tax amount	(0.4)	0
Tax expense	0.2	0
After tax amount	(0.2)	0
Amounts reclassified from accumulated other comprehensive loss (2)	6.2	(0.2)
Total changes in other comprehensive income, net of tax	6	(0.2)
Balance at the end of the period	(28.5)	(33)
Currency Translation (1)
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(107.1)	(113.7)
Other comprehensive income before reclassifications
Before tax amount	49.3	43.2
Tax expense	0	0
After tax amount	49.3	43.2
Amounts reclassified from accumulated other comprehensive loss (2)	0	0
Total changes in other comprehensive income, net of tax	49.3	43.2
Balance at the end of the period	(57.8)	(70.5)
Net Unrealized (Loss) Gain on Derivative Instruments
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(5.5)	(9.1)
Other comprehensive income before reclassifications
Before tax amount	0.3	4.7
Tax expense	(0.1)	(1.3)
After tax amount	0.2	3.4
Amounts reclassified from accumulated other comprehensive loss (2)	0.7	0.3
Total changes in other comprehensive income, net of tax	0.9	3.7
Balance at the end of the period	(4.6)	(5.4)
Total Attributable to Hillenbrand, Inc.
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Balance at the beginning of the period	(147.1)	(155.6)
Other comprehensive income before reclassifications
Before tax amount	49.2	47.9
Tax expense	0.1	(1.3)
After tax amount	49.3	46.6
Amounts reclassified from accumulated other comprehensive loss (2)	6.9	0.1
Total changes in other comprehensive income, net of tax	56.2	46.7
Balance at the end of the period	(90.9)	(108.9)
Noncontrolling Interests
Other comprehensive income before reclassifications
Before tax amount	0	(0.2)
Tax expense	0	0
After tax amount	0	(0.2)
Amounts reclassified from accumulated other comprehensive loss (2)	0	0
Total changes in other comprehensive income, net of tax	$ 0	$ (0.2)

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Schedule of reclassifications (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Affected Line in the Consolidated Statement of Operations:
Net revenue	$ 773.3	$ 655.7
Cost of Goods and Services Sold	(522.3)	(448.1)
Tax expense	(10)	(2.3)
Total reclassifications for the period, net of tax	6.9	0.1
Amortization of Pension and Postretirement
Affected Line in the Consolidated Statement of Operations:
Total reclassifications for the period, net of tax	6.2	(0.2)
Loss (Gain) on Derivative Instruments
Affected Line in the Consolidated Statement of Operations:
Total reclassifications for the period, net of tax	0.7	0.3
Reclassifications out of accumulated other comprehensive income (loss)
Affected Line in the Consolidated Statement of Operations:
Net revenue	(0.1)	(0.1)
Cost of Goods and Services Sold	0.3	(0.1)
Other income, net	8.7	0.4
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	8.9	0.2
Tax expense	(2)	(0.1)
Total reclassifications for the period, net of tax	6.9	0.1
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	0
Cost of Goods and Services Sold	0	0
Other income, net	8.2	(0.1)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	8.2	(0.1)
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	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)	(0.1)
Cost of Goods and Services Sold	0.3	(0.1)
Other income, net	0.5	0.5
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	$ 0.7	$ 0.3

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of stock-based compensation costs (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Compensation Related Costs [Abstract]
Share-based compensation costs	$ 5.2	$ 4.6
Less impact of income taxes	1.2	1.1
Share-based compensation costs, net of tax	$ 4	$ 3.5

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of stock-based awards granted (Details)	3 Months Ended
	Dec. 31, 2023 shares
Time-based stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted in period (in shares)	276,548
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)	472,835

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details)	3 Months Ended
	Dec. 31, 2023 $ / 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)	$ 38.39
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)	$ 41.45
Performance-based stock awards granted, number of units (in shares) | shares	275,458

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2023 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, 2023	Sep. 30, 2023	Dec. 31, 2022
Assets:
Cash and cash equivalents	$ 198.4	$ 242.9
Restricted Cash	1.2	7.3
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	0		$ 0.9
Investments in rabbi trust	4	3.3
Derivative instruments	2	1.5
Liabilities:
Derivative instruments	1.2	1.7
Cash flow hedging | Foreign Exchange Forward
Liabilities:
Derivative, notional amount	181	164.6
Level 1
Assets:
Cash and cash equivalents	198.4	242.9
Restricted Cash	1.2	7.3
Investments in rabbi trust	4	3.3
Derivative instruments	0	0
Liabilities:
Derivative instruments	0	0
Level 2
Assets:
Cash and cash equivalents	0	0
Restricted Cash	0	0
Investments in rabbi trust	0	0
Derivative instruments	2	1.5
Liabilities:
Derivative instruments	1.2	1.7
Level 3
Assets:
Cash and cash equivalents	0	0
Restricted Cash	0	0
Investments in rabbi trust	0	0
Derivative instruments	0	0
Liabilities:
Derivative instruments	0	0
$1,000 revolving credit facility (excluding outstanding letters of credit)
Liabilities:
Debt instruments	530.6	505.1
$1,000 revolving credit facility (excluding outstanding letters of credit) | Level 1
Liabilities:
Debt instruments	0	0
$1,000 revolving credit facility (excluding outstanding letters of credit) | Level 2
Liabilities:
Debt instruments	530.6	505.1
$1,000 revolving credit facility (excluding outstanding letters of credit) | Level 3
Liabilities:
Debt instruments	0	0
$200 term loan
Liabilities:
Debt instruments	190
$200 term loan | Level 1
Liabilities:
Debt instruments	0
$200 term loan | Level 2
Liabilities:
Debt instruments	190
$200 term loan | Level 3
Liabilities:
Debt instruments	0
2021 Notes
Liabilities:
Debt instruments	350	350
2021 Notes | Level 1
Liabilities:
Debt instruments	305.2	281.6
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	400.1	395.1
2020 Notes | Level 2
Liabilities:
Debt instruments	0	0
2020 Notes | Level 3
Liabilities:
Debt instruments	0	0
2019 Notes
Liabilities:
Debt instruments	374.8	374.7
2019 Notes | Level 1
Liabilities:
Debt instruments	371.1	355
2019 Notes | Level 2
Liabilities:
Debt instruments	0	0
2019 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, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Sep. 30, 2023 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	2
Number of operating segments | segment	2
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 773.3	$ 655.7
Total assets	5,584.9		$ 5,547.7
Property, plant, and equipment, net	453.4		432
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	326.9	232.9
Property, plant, and equipment, net	146.9		134.1
GERMANY
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	91.9	120.2
Property, plant, and equipment, net	142.2		136
CHINA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	57.9	52.4
Property, plant, and equipment, net	39		38.9
INDIA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	59.1	44.5
Property, plant, and equipment, net	36.9		38.1
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	237.5	205.7
Property, plant, and equipment, net	88.4		84.9
Corporate
Revenues from External Customers and Long-Lived Assets [Line Items]
Adjusted EBITDA (1)	(14)	(13.1)
Total assets	122.1		139.2
Advanced Process Solutions
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	568.3	412.8
Advanced Process Solutions | Operating segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Adjusted EBITDA (1)	96	71.3
Total assets	3,568.4		3,525.5
Molding Technology Solutions
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	205	242.9
Molding Technology Solutions | Operating segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Adjusted EBITDA (1)	32.1	$ 43.1
Total assets	$ 1,894.4		$ 1,883

Segment and Geographical Info_4

Segment and Geographical Information - Schedule of reconciliation of segment (Details 2) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Segment and Geographical Information
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	$ (0.3)	$ 21
Interest expense, net	29.8	21.5
Income tax expense	10	2.3
Depreciation and amortization	38.8	31
Business acquisition, development, and integration costs	5.6	10.7
Inventory step-up charges	1.5	8
Inventory step-up	0.6	1
Income from continuing operations	19.2	47.8
Pension settlement charge	8.3	0
Corporate, Non-Segment [Member]
Segment and Geographical Information
Adjusted EBITDA (1)	(14)	(13.1)
Advanced Process Solutions | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	96	71.3
Molding Technology Solutions | Operating segments
Segment and Geographical Information
Adjusted EBITDA (1)	$ 32.1	$ 43.1

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Feb. 02, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring and Related Cost
Severance and other related costs		$ 0.6	$ 1
Minimum | Subsequent Event | Employee Severance
Restructuring and Related Cost
Severance and other related costs	$ 20