Post (POST) 10-Q 5 Feb 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2015	Feb. 01, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Post Holdings, Inc.
Entity Central Index Key	1,530,950
Current Fiscal Year End Date	--09-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		64,095,281

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Net Sales	$ 1,248.8	$ 1,073.9
Cost of goods sold	886.3	824.8
Gross Profit	362.5	249.1
Selling, general and administrative expenses	187	167.2
Amortization of intangible assets	38.1	33.5
Other operating expenses, net	4.5	7.5
Operating Profit	132.9	40.9
Interest expense, net	77.8	60.1
Other expense	15.9	54.6
Earnings (Loss) before Income Taxes	39.2	(73.8)
Income tax expense	13.7	23.5
Net Earnings (Loss)	25.5	(97.3)
Preferred stock dividends (see Note 13)	(15)	(4.3)
Net Earnings (Loss) Available to Common Shareholders	$ 10.5	$ (101.6)
Earnings (Loss) per Share, Basic (in usd per share)	$ 0.16	$ (2.04)
Earnings (Loss) per Share, Diluted (in usd per share)	$ 0.15	$ (2.04)
Weighted-Average Common Shares Outstanding, Basic (in shares)	67.4	49.8
Weighted-Average Common Shares Outstanding, Diluted (in shares)	68.8	49.8

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net Earnings (Loss)	$ 25.5	$ (97.3)
Amortization of actuarial loss (benefit) and prior service cost for pension and postretirement benefits, net of tax benefit	0.3	0.2
Foreign currency translation adjustments	(9.8)	(14.1)
Total Comprehensive Income (Loss)	$ 16	$ (111.2)

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Loss) Parentheticals - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Pension and postretirement benefit tax adjustments	$ (0.2)	$ (0.1)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Assets
Cash and cash equivalents	$ 802.4	$ 841.4
Restricted cash	14.1	18.8
Receivables, net	367.5	366.2
Inventories	487.2	465.3
Deferred income taxes	0	47.7
Prepaid expenses and other current assets	45.4	42.3
Total Current Assets	1,716.6	1,781.7
Property, net	1,368.6	1,333.2
Goodwill	3,072.8	3,072.8
Other intangible assets, net	2,943.2	2,969.3
Other assets	62.2	63.4
Total Assets	9,163.4	9,220.4
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current portion of long-term debt	16.2	16
Accounts payable	233.4	265.2
Other current liabilities	314.8	329.8
Total Current Liabilities	564.4	611
Long-term debt	4,506.2	4,511.4
Deferred income taxes	800.2	831.8
Other liabilities	313	290.2
Total Liabilities	6,183.8	6,244.4
Stockholders' Equity
Preferred stock	0	0.1
Common stock	0.7	0.6
Additional paid-in capital	3,526.4	3,538.8
Accumulated deficit	(395.5)	(421)
Accumulated other comprehensive loss	(98.6)	(89.1)
Treasury stock, at cost	(53.4)	(53.4)
Total Shareholders’ Equity	2,979.6	2,976
Total Liabilities and Shareholders’ Equity	$ 9,163.4	$ 9,220.4

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash Flows from Operating Activities:
Net Earnings (Loss)	$ 25.5	$ (97.3)
Adjustments to reconcile of net (loss) earnings to net cash provided by operating activities:
Depreciation and amortization	74.8	63.1
Unrealized loss on interest rate swaps	15.9	54.6
Amortization of deferred financing costs and debt discount/premium, net	1.1	1.3
Loss on write-down of assets held for sale	4	7.1
Non-cash stock-based compensation expense	3.5	6.3
Deferred income taxes	16.8	(34.7)
Other, net	0.4	0.4
Other changes in current assets and liabilities, net of business acquisitions:
Decrease in receivables, net	10.7	21.6
Increase in inventories	(16)	(18.2)
Increase in prepaid expenses and other current assets	(3.5)	(1.1)
(Decrease) increase in accounts payable and other current and non-current liabilities	(44.5)	54.1
Net Cash Provided by Operating Activities	88.7	57.2
Cash Flows from Investing Activities:
Business acquisitions, net of cash acquired	(94.4)	(184.2)
Additions to property	(18.5)	(23.7)
Restricted cash	4.7	71.2
Proceeds from sale of property	0.3	0
Net Cash Used by Investing Activities	(107.9)	(136.7)
Cash Flows from Financing Activities:
Repayments of long-term debt	(3.6)	(6.7)
Payments of Dividends	(4.3)	(4.3)
Preferred stock conversion	(10.9)	0
Other, net	(0.6)	(0.6)
Net Cash Used In Financing Activities	(19.4)	(11.6)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(0.4)	(0.6)
Net Decrease in Cash and Cash Equivalents	(39)	(91.7)
Cash and Cash Equivalents, Beginning of Year	841.4	268.4
Cash and Cash Equivalents, End of Period	$ 802.4	$ 176.7

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background	BASIS OF PRESENTATION These unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), under the rules and regulations of the United States Securities and Exchange Commission (the “SEC”), and on a basis substantially consistent with the audited consolidated financial statements of Post Holdings, Inc. (herein referred to as “Post,” “the Company,” “us,” “our” or “we”) as of and for the fiscal year ended September 30, 2015. These unaudited condensed consolidated financial statements should be read in conjunction with such audited consolidated financial statements, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2015, filed with the SEC on November 25, 2015. These unaudited condensed consolidated financial statements include all adjustments (consisting of normal recurring adjustments and accruals) that management considers necessary for a fair statement of the Company’s financial position, results of operations, comprehensive income (loss) and cash flows for the interim periods presented. Interim results are not necessarily indicative of the results for any other interim period or for the entire fiscal year. Certain prior year amounts have been reclassified to conform with the 2016 presentation. These reclassifications had no impact on Net Earnings (Loss) or Shareholders' Equity as previously reported.

Recently Issued and Adopted Acc

Recently Issued and Adopted Accounting Standards (Notes)	3 Months Ended
	Dec. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	RECENTLY ISSUED AND ADOPTED ACCOUNTING STANDARDS In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” The standards update requires equity investments to be measured at fair value with changes in fair value recognized in net income; simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; requires separate presentation of financial assets and financial liabilities by measurement category and form of financial assets on the balance sheet or the accompanying notes to the financial statements and clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. This ASU is effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is not permitted. The Company is currently evaluating the impact of adopting this guidance. In November 2015, the FASB issued ASU 2015-17 “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes.” The standards update requires an entity to classify all deferred tax assets and liabilities as noncurrent. ASU 2015-17 is effective for fiscal years, and interim periods within those year, beginning after December 15, 2016, with early adoption permitted and can be applied either retrospectively or prospectively. The Company prospectively adopted this ASU at December 31, 2015 and is now presenting all deferred tax assets and liabilities as noncurrent as of December 31, 2015 on the Condensed Consolidated Balance Sheets. Balances at September 30, 2015 were not retrospectively adjusted as the Company chose to prospectively adopt this ASU.

Restructuring

Restructuring	3 Months Ended
	Dec. 31, 2015
Restructuring and Related Activities [Abstract]
Restructuring	RESTRUCTURING In September 2015, the Company announced its plan to close its Dymatize manufacturing facility located in Farmers Branch, Texas and permanently transfer production to third party facilities under co-manufacturing agreements. Plant production ceased in the fourth quarter of 2015. In May 2015, the Company announced its plan to consolidate its cereal business administrative offices in Lakeville, Minnesota. As a result of the announcement, the Company plans to close its office located in Parsippany, New Jersey and relocate those functions as well as certain functions located in Battle Creek, Michigan to the Lakeville office. The Parsippany office closure is expected to be substantially completed by February 2016. In March 2015, the Company announced its plan to close its facility in Boise, Idaho, which manufactures certain PowerBar products distributed in North America. Plant production ceased in June 2015 and the facility was sold in September 2015. In April 2013, the Company announced management’s decision to close its plant located in Modesto, California as part of a cost savings and capacity rationalization effort. The transfer of production capabilities and closure of the plant was completed during September 2014, and no additional restructuring costs were incurred in fiscal 2015 or 2016. Amounts related to the restructuring events are shown in the following table. Expense is recognized in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Operations. These expenses are not included in the measure of segment performance for any segment (see Note 16). Employee-Related Costs Pension Curtailment Accelerated Depreciation Total Balance at September 30, 2014 $ 0.7 $ — $ — $ 0.7 Charge to expense — — — — Cash payments (0.5 ) — — (0.5 ) Non-cash charges — — — — Balance at December 31, 2014 $ 0.2 $ — $ — $ 0.2 Balance at September 30, 2015 $ 10.5 $ — $ — $ 10.5 Charge to expense 0.9 — 0.3 1.2 Cash payments (2.9 ) — — (2.9 ) Non-cash charges (0.4 ) — (0.3 ) (0.7 ) Balance at December 31, 2015 $ 8.1 $ — $ — $ 8.1 Total expected restructuring charge $ 17.3 $ 1.7 $ 20.1 $ 39.1 Cumulative restructuring charges incurred to date 17.3 1.7 20.0 39.0 Remaining expected restructuring charge $ — $ — $ 0.1 $ 0.1 Assets Held for Sale Related to the closure of its Modesto, California facility, the Company has land, building and equipment classified as assets held for sale as of December 31, 2015 and September 30, 2015. Related to the manufacturing shutdown of its Dymatize facility, the Company has machinery and equipment classified as assets held for sale as of December 31, 2015. The carrying value of the assets included in “Prepaid expenses and other current assets” on the Condensed Consolidated Balance Sheets was $7.6 and $11.4 as of December 31, 2015 and September 30, 2015, respectively. Held for sale losses of $4.0 and $7.1 were recorded in three months ended December 31, 2015 and 2014, respectively, to adjust the carrying value of the assets to their fair value less estimated selling costs. These losses are reported as “Other operating expenses, net” on the Condensed Consolidated Statements of Operations.

Business Combinations

Business Combinations	3 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS On October 3, 2015, the Company completed its acquisition of Willamette Egg Farms (“WEF”) for $90.0 , subject to working capital and other adjustments, resulting in a payment at closing of $109.0 . In December 2015, a final settlement of net working capital and other adjustments was reached, resulting in an additional amount paid by the Company of $4.6 . WEF is a producer, processor and wholesale distributor of eggs and egg products and is reported in Post’s Michael Foods Group segment (see Note 16). Based upon the preliminary purchase price allocation, the Company has recorded $12.7 of customer relationships to be amortized over a weighted-average period of 20 years and $2.5 to trademarks and brands to be amortized over a weighted-average period of 20 years. Net sales and operating profit included in the Condensed Consolidated Statements of Operations related to WEF were $29.7 and $8.4 , respectively, for the three months ended December 31, 2015. On May 4, 2015, Post completed its acquisition of MOM Brands Company (“MOM Brands”), a manufacturer and distributer of ready-to-eat (“RTE”) cereals. MOM Brands is reported in the Post Consumer Brands segment (see Note 16). The closing purchase price of the transaction was $1,181.5 and was partially paid by the issuance of 2.45 shares of the Company’s common stock to the former owners of MOM Brands. The shares were valued at the May 1, 2015 closing price of $46.60 per share for a total issuance of $114.4 . In September 2015, a final settlement of net working capital and other adjustments was reached, resulting in an amount back to the Company of approximately $4.0 . On November 1, 2014, the Company completed its acquisition of American Blanching Company (“ABC”) for $128.0 . ABC is a manufacturer of peanut butter for national brands, private label retail and industrial markets and provider of peanut blanching, granulation and roasting services for the commercial peanut industry. ABC is reported in Post’s Private Brands segment (see Note 16). On October 1, 2014, the Company completed its acquisition of the PowerBar and Musashi brands and related worldwide assets from Nestlé S.A (“PowerBar”) for $150.0 , subject to a working capital adjustment, which resulted in a payment at closing of $136.1 . In March 2015, a final settlement of net working capital and other adjustments was reached, resulting in an amount back to the Company of approximately $1.7 . On July 1, 2015, the Company sold the PowerBar Australian assets and Musashi trademark. Each of the acquisitions was accounted for using the acquisition method of accounting, whereby the results of operations are included in the financial statements from the date of acquisition. The respective purchase prices were allocated to acquired assets and assumed liabilities based on their estimated fair values at the date of acquisition, and any excess was allocated to goodwill, as shown in the table below. Goodwill represents the value the Company expects to achieve through the implementation of operational synergies and the expansion of the business into new or growing segments of the industry. The Company expects the final fair value of goodwill related to the acquisition of WEF to be deductible for U.S. income tax purposes. Certain estimated values for the MOM Brands and WEF acquisitions, including goodwill, intangible assets, inventory and deferred taxes, are not yet finalized pending the final purchase price allocations and are subject to change once additional information is obtained. The following table provides the preliminary allocation of the purchase price related to the fiscal 2016 acquisition of WEF based upon the fair value of assets and liabilities assumed. Cash and cash equivalents $ 19.2 Receivables 11.1 Inventories 10.3 Prepaid expenses and other current assets 0.5 Property 56.2 Goodwill 4.2 Other intangible assets 15.2 Other assets 0.1 Accounts payable (2.2 ) Other current liabilities (1.0 ) Total acquisition cost $ 113.6 Transaction related costs The Company incurred acquisition and divestiture related expenses of $2.0 and $5.0 , during the three months ended December 31, 2015 and 2014, respectively, recorded as “Selling, general and administrative expenses.” These costs include amounts for transactions that were signed, spending for due diligence on potential acquisitions that were not signed or announced at the time of the Company’s reporting, and spending for divestiture transactions. Pro Forma Information The following unaudited pro forma information presents a summary of the results of operations of the Company combined with the aggregate results of WEF, MOM Brands, ABC and PowerBar for the periods presented as if the fiscal 2016 acquisition of WEF had occurred on October 1, 2014 and the fiscal 2015 acquisitions had occurred on October 1, 2013, along with certain pro forma adjustments. These pro forma adjustments give effect to the amortization of certain definite-lived intangible assets, adjusted depreciation based upon fair value of assets acquired, interest expense related to the financing of the business combinations, inventory revaluation adjustments on acquired business and related income taxes. The following unaudited pro forma information has been prepared for comparative purposes only and is not necessarily indicative of the results of operations as they would have been had the acquisitions occurred on the assumed dates, nor is it necessarily an indication of future operating results. Three Months Ended 2015 2014 Pro forma net sales $ 1,248.8 $ 1,309.9 Pro forma net income (loss) available to common shareholders 11.7 (88.1 ) Pro forma basic income (loss) per common share $ 0.17 $ (1.77 ) Pro forma diluted income (loss) per common share $ 0.17 $ (1.77 )

Goodwill

Goodwill	3 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	GOODWILL The changes in the carrying amount of goodwill by segment are noted in the following table. Post Consumer Brands Michael Foods Group Active Nutrition Private Brands Total Balance, September 30, 2015 Goodwill (gross) $ 1,993.9 $ 1,341.6 $ 180.7 $ 254.0 $ 3,770.2 Accumulated impairment losses (609.1 ) — (88.3 ) — (697.4 ) Goodwill (net) $ 1,384.8 $ 1,341.6 $ 92.4 $ 254.0 $ 3,072.8 Goodwill acquired — 4.2 — — 4.2 Currency translation adjustment (0.1 ) — — (4.1 ) (4.2 ) Balance, December 31, 2015 Goodwill (gross) $ 1,993.8 $ 1,345.8 $ 180.7 $ 249.9 $ 3,770.2 Accumulated impairment losses (609.1 ) — (88.3 ) — (697.4 ) Goodwill (net) $ 1,384.7 $ 1,345.8 $ 92.4 $ 249.9 $ 3,072.8

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the three months ended December 31, 2015, the effective income tax rate was 34.9% . For the three months ended December 31, 2014, the effective income tax rate was negative 31.8% . In accordance with Accounting Standards Codification (“ASC”) Topic 740, the Company recorded tax expense for the three months ended December 31, 2015 and 2014 using the estimated annual effective tax rate for the full fiscal year. For the three months ended December 31, 2014, the estimated annual effective tax rate differed significantly from the statutory tax rate primarily due to the Company’s estimate of full year earnings before income taxes, which caused small variations in estimated permanent differences to have a magnified impact on the effective income tax rate percentage, the expectation that nondeductible merger and acquisition expenses and other permanently nondeductible expenses would have had an unfavorable impact on the effective income tax rate and the expectation that the Domestic Production Activities Deduction and tax planning strategies implemented for certain recent acquisitions would have had a favorable impact on the effective income tax rate.

Intangible Assets, net

Intangible Assets, net	3 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, net	INTANGIBLE ASSETS, NET Total intangible assets are as follows: December 31, 2015 September 30, 2015 Carrying Accumulated Amortization Net Carrying Accumulated Amortization Net Subject to amortization: Customer relationships $ 2,008.9 $ (219.5 ) $ 1,789.4 $ 1,998.6 $ (192.7 ) $ 1,805.9 Trademarks/brands 793.8 (89.4 ) 704.4 780.9 (79.1 ) 701.8 Other intangible assets 20.8 (5.9 ) 14.9 21.3 (5.4 ) 15.9 2,823.5 (314.8 ) 2,508.7 2,800.8 (277.2 ) 2,523.6 Not subject to amortization: Trademarks/brands 434.5 — 434.5 445.7 — 445.7 $ 3,258.0 $ (314.8 ) $ 2,943.2 $ 3,246.5 $ (277.2 ) $ 2,969.3

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Earnings (Loss) per Share	EARNINGS (LOS S) PER SHARE Basic earnings (loss) per share is based on the average number of common shares outstanding during the period. Diluted earnings (loss) per share is based on the average number of shares used for the basic earnings per share calculation, adjusted for the dilutive effect of stock options, stock appreciation rights and restricted stock equivalents using the “treasury stock” method. The impact of potentially dilutive convertible preferred stock is calculated using the “if-converted” method. The Company’s tangible equity units (“TEUs”) are assumed to be settled at the minimum settlement amount of 1.7114 shares per TEU for weighted-average shares for basic earnings (loss) per share. For diluted earnings (loss) per share, the shares, to the extent dilutive, are assumed to be settled at a conversion factor based on the Company’s daily volume-weighted average price per share of the Company’s common stock not to exceed 2.0964 shares per TEU. The following table sets forth the computation of basic and diluted earnings (loss) per share for the three months ended December 31, 2015 and 2014. Three Months Ended 2015 2014 Net earnings for basic earnings (loss) per share $ 10.5 $ (101.6 ) Net earnings for diluted earnings (loss) per share $ 10.5 $ (101.6 ) Weighted-average shares outstanding 62.5 44.9 Effect of TEUs on weighted-average shares for basic earnings (loss) per share 4.9 4.9 Weighted-average shares for basic earnings (loss) per share 67.4 49.8 Effect of dilutive securities: Stock options 1.0 — Stock appreciation rights 0.1 — Restricted stock awards 0.3 — Total dilutive securities 1.4 — Weighted-average shares for diluted earnings (loss) per share 68.8 49.8 Basic earnings (loss) per common share $ 0.16 $ (2.04 ) Diluted earnings (loss) per common share $ 0.15 $ (2.04 ) The following table details the securities that have been excluded from the calculation of weighted-average shares for diluted earnings (loss) per share as they were anti-dilutive. December 31, 2015 2014 Stock options 0.3 4.3 Stock appreciation rights — 0.5 Restricted stock awards 0.2 0.3 TEUs — 1.1 Preferred shares conversion to common 9.1 11.0

Inventories

Inventories	3 Months Ended
	Dec. 31, 2015
Inventory [Abstract]
Inventories	INVENTORIES December 31, 2015 September 30, 2015 Raw materials and supplies $ 132.0 $ 142.5 Work in process 11.9 15.3 Finished products 313.0 286.8 Flocks 30.3 20.7 $ 487.2 $ 465.3

Property, net

Property, net	3 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, net	PROPERTY, NET December 31, 2015 September 30, 2015 Property, at cost $ 1,807.5 $ 1,737.7 Accumulated depreciation (438.9 ) (404.5 ) $ 1,368.6 $ 1,333.2

Derivative Financial Instrument

Derivative Financial Instruments and Hedging	3 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative financial instruments and hedging	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING In the ordinary course of business, the Company is exposed to commodity price risks relating to the acquisition of raw materials and supplies, interest rate risks relating to floating rate debt, and foreign currency exchange rate risks relating to its foreign subsidiaries. The Company utilizes derivative financial instruments, including (but not limited to) futures contracts, option contracts, forward contracts and swaps, to manage certain of these exposures by hedging when it is practical to do so. The Company does not hold or issue financial instruments for speculative or trading purposes. The Company maintains options, futures contracts and interest rate swaps which have been designated as economic hedges of raw materials, energy purchases and variable rate debt. At December 31, 2015, the notional amounts of commodity contracts and energy contracts were $38.5 and $17.4 , respectively. These contracts relate to inputs that generally will be utilized within the next 12 months. At December 31, 2015 and September 30, 2015, the Company had pledged collateral of $12.3 and $10.7 , respectively, related to its commodity and energy contracts. These amounts are classified as “Restricted cash” on the Condensed Consolidated Balance Sheets. At December 31, 2015, the Company had a liability of $4.7 related to open commodity and energy option contracts and associated fees that have not been cash settled. Payment for these options is due at the time the Company exits the position. As of December 31, 2015, the Company had interest rate swaps with a notional amount of $78.3 that obligate Post to pay a fixed rate of 3.1% and receive one-month LIBOR. These swaps have the effect of converting a portion of our variable interest rate term loan debt to fixed interest rates beginning in June 2016 and ending in May 2021. In addition, the Company has interest rate swaps with a $750.0 notional amount that obligate Post to pay a weighted average fixed rate of approximately 4.0% and receive three-month LIBOR and will result in a net lump sum settlement in July 2018, as well as interest rate swaps with a $899.3 notional amount that obligate Post to pay a weighted average fixed rate of approximately 3.7% and receive three-month LIBOR and will result in a net lump sum settlement in December 2019. Commodity and energy derivatives are valued using an income approach based on index prices less the contract rate multiplied by the notional amount. The Company’s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve. The following tables present the balance sheet location and fair value of the Company’s derivative instruments on a gross and net basis as of December 31, 2015 and September 30, 2015. Fair Value of Assets as of December 31, 2015 Balance Sheet Location Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets Presented in the Condensed Consolidated Balance Sheet Commodity contracts Prepaid expenses and other current assets $ 3.2 $ — $ 3.2 Energy contracts Prepaid expenses and other current assets 0.6 — 0.6 $ 3.8 $ — $ 3.8 Fair Value of Liabilities as of December 31, 2015 Balance Sheet Location Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities Presented in the Condensed Consolidated Balance Sheet Commodity contracts Other current liabilities $ 2.7 $ — $ 2.7 Energy contracts Other current liabilities 5.9 — 5.9 Interest rate swaps Other current liabilities 0.8 — 0.8 Interest rate swaps Other liabilities 147.9 — 147.9 $ 157.3 $ — $ 157.3 Fair Value of Assets as of September 30, 2015 Balance Sheet Location Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets Presented in the Condensed Consolidated Balance Sheet Commodity contracts Prepaid expenses and other current assets $ 0.4 $ — $ 0.4 Energy contracts Prepaid expenses and other current assets 0.2 — 0.2 $ 0.6 $ — $ 0.6 Fair Value of Liabilities as of September 30, 2015 Balance Sheet Location Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities Presented in the Condensed Consolidated Balance Sheet Commodity contracts Other current liabilities $ 1.2 $ — $ 1.2 Energy contracts Other current liabilities 4.7 — 4.7 Interest rate swaps Other current liabilities 4.9 — 4.9 Interest rate swaps Other liabilities 127.9 — 127.9 $ 138.7 $ — $ 138.7 The following table presents the recognized (gain) loss from derivative instruments that were not designated as qualified hedging instruments on the Company’s Condensed Consolidated Statements of Operations. (Gain) Loss Recognized in Earnings Location of (Gain) Loss Recognized in Earnings Three Months Ended December 31, Derivative Instrument 2015 2014 Commodity contracts Cost of goods sold $ 4.4 $ (8.2 ) Energy contracts Cost of goods sold 4.1 8.5 Interest rate swaps Other expense 15.9 54.6

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair value measurements	FAIR VALUE MEASUREMENTS The following table represents Post’s assets and liabilities measured at fair value on a recurring basis and the basis for that measurement according to the levels in the fair value hierarchy in ASC Topic 820. December 31, 2015 September 30, 2015 Total Level 1 Level 2 Total Level 1 Level 2 Assets: Deferred compensation investment $ 10.8 $ 10.8 $ — $ 10.3 $ 10.3 $ — Derivative assets 3.8 — 3.8 0.6 — 0.6 $ 14.6 $ 10.8 $ 3.8 $ 10.9 $ 10.3 $ 0.6 Liabilities: Deferred compensation liabilities $ 15.0 $ — $ 15.0 $ 14.2 $ — $ 14.2 Derivative liabilities 157.3 — 157.3 138.7 — 138.7 $ 172.3 $ — $ 172.3 $ 152.9 $ — $ 152.9 The following table represents the fair value of Post’s long-term debt which is classified as Level 2 in the fair value hierarchy per ASC Topic 820: December 31, September 30, 2015 Senior notes $ 4,207.6 $ 4,112.5 Term loan 373.3 374.0 TEUs 24.2 28.6 4.57% 2012 Series Bond maturing September 2017 2.9 2.9 Capital leases 2.6 2.8 $ 4,610.6 $ 4,520.8 The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. The fair value hierarchy consists of three levels: Level 1 — Inputs are quoted prices in active markets for identical assets or liabilities. Level 2 — Inputs are quoted prices of similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs which are derived principally from or corroborated by observable market data. Level 3 — Inputs are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable. The deferred compensation investment is invested primarily in mutual funds and its fair value is measured using the market approach. This investment is in the same funds and purchased in substantially the same amounts as the participants’ selected investment options (excluding Post common stock equivalents), which represent the underlying liabilities to participants in the Company’s deferred compensation plans. Deferred compensation liabilities are recorded at amounts due to participants in cash, based on the fair value of participants’ selected investment options (excluding certain Post common stock equivalents to be distributed in shares) using the market approach. The Company utilizes the income approach to measure fair value for its derivative assets, which include commodity options and futures contracts. The income approach uses pricing models that rely on market observable inputs such as yield curves and forward prices. Changes in the deferred compensation investment and related liability are recorded as a component of selling, general and administrative expenses. Refer to Note 11 for the classification of changes in fair value of derivative assets and liabilities measured at fair value on a recurring basis within the Condensed Consolidated Statements of Operations. As stated previously (see Note 3), the Company has land, building and equipment classified as assets held for sale as of December 31, 2015 and September 30, 2015 related to the closure of its Modesto, California facility as well as machinery and equipment held for sale related to the closure of its Dymatize facility. At December 31, 2015 and September 30, 2015, the carrying value and estimated fair value less estimated costs to sell of the assets held for sale was $7.6 and $11.4 , respectively, and is included in “Prepaid expenses and other current assets” on the Condensed Consolidated Balance Sheets. The fair value of the assets held for sale related to the Modesto, California facility were measured at fair value on a nonrecurring basis based on a third-party offer to purchase the facility. The fair value of the assets held for sale related to the Dymatize machinery and equipment was measured at fair value on a nonrecurring basis based on information provided by external sources and third-party offers to purchase the equipment, along with management’s own assumptions. The fair value measurement was categorized as Level 3, as the fair values utilize significant unobservable inputs. The carrying amounts reported on the Condensed Consolidated Balance Sheets for cash and cash equivalents, receivables and accounts payable approximate fair value because of the short maturities (less than 12 months) of these financial instruments.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Shareholders' equity	SHAREHOLDERS’ EQUITY In December 2015, the Company and a holder of the Company’s 3.75% Series B Cumulative Perpetual Convertible Preferred Stock (the “Series B Preferred”) entered into an exchange agreement pursuant to which the shareholder agreed to deliver 0.9 shares of the Series B Preferred to the Company in exchange for 2.0 shares of common stock and $10.9 in cash. The number of shares of common stock exchanged in the transaction was based upon the current conversion rate, under the Certificate of Designation, Rights and Preferences for the Series B Preferred, of 2.1192 shares of common stock per share of Series B Preferred. The cash received was recorded as “Additional paid-in capital” on the Condensed Consolidated Balance Sheets. Reclassifications out of accumulated other comprehensive income (loss) for the reported periods include the amortization of actuarial loss (benefit) and prior service cost for pension and postretirement benefits totaling $0.5 and $0.3 for the three month periods ended December 31, 2015 and 2014, respectively. Amounts are primarily classified as “Cost of goods sold” on the Condensed Consolidated Statements of Operations.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT Long-term debt as of the dates indicated consists of the following: December 31, 2015 September 30, 2015 7.375% Senior Notes maturing February 2022 $ 1,375.0 $ 1,375.0 6.75% Senior Notes maturing December 2021 875.0 875.0 6.00% Senior Notes maturing December 2022 630.0 630.0 7.75% Senior Notes maturing March 2024 800.0 800.0 8.00% Senior Notes maturing July 2025 400.0 400.0 Term Loan 374.4 374.4 TEUs 21.6 25.1 4.57% 2012 Series Bond maturing September 2017 2.9 2.9 Capital leases 2.6 2.8 $ 4,481.5 $ 4,485.2 Less: Current Portion (16.2 ) (16.0 ) Plus: Unamortized premium (discount), net 40.9 42.2 Total long-term debt $ 4,506.2 $ 4,511.4 On January 29, 2014, the Company entered into a credit agreement (as subsequently amended, the “Credit Agreement”). The Credit Agreement provides for a revolving credit facility with an aggregate principal value of $400.0 as well as an incremental term loan. The revolving credit facility has outstanding letters of credit of $12.1 which reduced the available borrowing capacity to $387.9 at December 31, 2015. The Credit Agreement contains customary financial covenants including (a) a quarterly maximum senior secured leverage ratio of 3.00 to 1.00, and (b) a quarterly minimum interest coverage ratio of 1.75 to 1.00. The Credit Agreement permits the Company to incur additional unsecured debt only if its consolidated interest coverage ratio, calculated as provided in the Credit Agreement would be greater than 2.00 to 1.00 after giving effect to such new debt. The Credit Agreement provides for customary events of default, including material breach of representations and warranties, failure to make required payments, failure to comply with certain agreements or covenants, failure to pay, or default under, certain other material indebtedness, certain events of bankruptcy and insolvency, inability to pay debts, the occurrence of one or more unstayed or undischarged judgments in excess of $75.0 or attachments issued against a material part of the Company’s property, change in control, the invalidity of any loan document, the failure of the collateral documents to create a valid and perfected first priority lien and certain ERISA events. Upon the occurrence of an event of default, the maturity of the loans under the Credit Agreement may be accelerated and the agent and lenders under the Credit Agreement may exercise other rights and remedies available at law or under the loan documents, including with respect to the collateral and guarantees for the Company’s obligations under the Credit Agreement. Debt Covenants Under the terms of the Credit Agreement, the Company is required to comply with certain financial covenants consisting of ratios for quarterly maximum senior secured leverage and minimum interest coverage. As of December 31, 2015, the Company was in compliance with such financial covenants. The Company does not believe non-compliance is reasonably likely in the foreseeable future.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	3 Months Ended
	Dec. 31, 2015
Pension and Other Postretirement Benefit Expense [Abstract]
Pension and other postretirement benefits	PENSION AND OTHER POSTRETIREMENT BENEFITS The Company maintains qualified defined benefit plans in the United States and Canada for its Post Foods business. Certain of the Company’s employees are eligible to participate in the Company’s qualified and supplemental noncontributory defined benefit pension plans and other postretirement benefit plans (partially subsidized retiree health and life insurance) or separate plans for Post Foods Canada Inc. Amounts for the Canadian plans are included in these disclosures and are not disclosed separately because they do not constitute a significant portion of the combined amounts. The following tables provide the components of net periodic benefit cost for the plans. Pension Benefits Three Months Ended 2015 2014 Components of net periodic benefit cost Service cost $ 1.0 $ 1.0 Interest cost 0.6 0.6 Expected return on plan assets (0.7 ) (0.7 ) Recognized net actuarial loss 0.3 0.2 Recognized prior service cost 0.1 0.1 Net periodic benefit cost $ 1.3 $ 1.2 Other Benefits Three Months Ended 2015 2014 Components of net periodic benefit cost Service cost $ 0.4 $ 0.5 Interest cost 1.3 1.2 Recognized net actuarial loss 0.4 0.4 Recognized prior service credit (0.3 ) (0.4 ) Net periodic benefit cost $ 1.8 $ 1.7

Segments

Segments	3 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	SEGMENTS The Company’s reportable segments are as follows: • Post Consumer Brands: primarily RTE cereals; • Michael Foods Group: the predominantly foodservice and food ingredient egg, potato and pasta businesses and the retail cheese business; • Active Nutrition: protein shakes, bars and powders and nutritional supplements; and • Private Brands: primarily peanut and other nut butters, dried fruit and nuts, and granola. Management evaluates each segment’s performance based on its segment profit, which is its operating profit before impairment of property and intangible assets, facility closure related costs, restructuring expenses, losses on assets held for sale, gain on sale of plant and other unallocated corporate income and expenses. The following tables present information about the Company’s reportable segments, including corresponding amounts for the prior year. Three Months Ended 2015 2014 Net Sales Post Consumer Brands $ 411.6 $ 217.5 Michael Foods Group 586.4 599.3 Active Nutrition 115.8 130.4 Private Brands 135.6 127.8 Eliminations (0.6 ) (1.1 ) Total $ 1,248.8 $ 1,073.9 Segment Profit (Loss) Post Consumer Brands $ 62.9 $ 37.6 Michael Foods Group 80.8 42.1 Active Nutrition 10.5 (6.3 ) Private Brands 12.9 6.9 Total segment profit 167.1 80.3 General corporate expenses and other 34.2 39.4 Interest expense, net 77.8 60.1 Other expense 15.9 54.6 Income (loss) before income taxes $ 39.2 $ (73.8 ) Depreciation and amortization Post Consumer Brands $ 26.3 $ 12.2 Michael Foods Group 34.4 36.6 Active Nutrition 6.2 6.9 Private Brands 6.2 6.0 Total segment depreciation and amortization 73.1 61.7 Corporate and accelerated depreciation 1.7 1.4 Total $ 74.8 $ 63.1 Assets December 31, 2015 September 30, 2015 Post Consumer Brands $ 3,448.6 $ 3,473.0 Michael Foods Group 3,552.9 3,506.0 Active Nutrition 644.6 645.4 Private Brands 633.4 651.6 Corporate 883.9 944.4 Total $ 9,163.4 $ 9,220.4

Condensed Consolidating Financi

Condensed Consolidating Financial Statements of Guarantors	3 Months Ended
	Dec. 31, 2015
Schedule Of Condensed Financial Statements [Abstract]
Guarantor Financials	CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF GUARANTORS All of the Company’s senior notes (see Note 14) are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by each of our existing 100% owned domestic subsidiaries and future domestic subsidiaries, the “Guarantors.” Our foreign subsidiaries, the “Non-Guarantors,” do not guarantee the senior notes. These guarantees are subject to release in limited circumstances (only upon the occurrence of certain customary conditions). Set forth below are the condensed consolidating financial statements presenting the results of operations, financial position and cash flows of the Parent Company (Post Holdings, Inc.), the Guarantors on a combined basis, the Non-Guarantors on a combined basis and eliminations necessary to arrive at the information for the Company as reported, on a consolidated basis. The Condensed Consolidating Financial Statements present the Parent Company’s investments in subsidiaries using the equity method of accounting. Eliminations represent adjustments to eliminate investments in subsidiaries and intercompany balances and transactions between or among the Parent Company, the Guarantor and the Non-Guarantor subsidiaries. Post Holdings, Inc. and all of its domestic subsidiaries form a single consolidated tax group for U.S. income tax purposes. Accordingly, income tax expense has been presented on the Guarantors’ Condensed Statements of Operations using the consolidated U.S. effective tax rate for the Company. Income tax payable and deferred tax items for the consolidated U.S. tax paying group reside solely on the Parent Company’s Condensed Consolidated Balance Sheet. POST HOLDINGS, INC. CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended December 31, 2015 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 1,122.2 $ 142.3 $ (15.7 ) $ 1,248.8 Cost of goods sold — 782.4 119.6 (15.7 ) 886.3 Gross Profit — 339.8 22.7 — 362.5 Selling, general and administrative expenses 4.6 173.8 8.6 — 187.0 Amortization of intangible assets — 35.8 2.3 — 38.1 Other operating expenses, net — 4.5 — — 4.5 Operating (Loss) Profit (4.6 ) 125.7 11.8 — 132.9 Interest expense (income), net 75.2 (0.2 ) 2.8 — 77.8 Other expense 15.9 — — — 15.9 (Loss) Earnings before Income Taxes (95.7 ) 125.9 9.0 — 39.2 Income tax (benefit) expense (33.4 ) 44.5 2.6 — 13.7 Net (Loss) Earnings before Equity in Subsidiaries (62.3 ) 81.4 6.4 — 25.5 Equity earnings (loss) in subsidiaries 87.8 (0.5 ) — (87.3 ) — Net Earnings $ 25.5 $ 80.9 $ 6.4 $ (87.3 ) $ 25.5 Total Comprehensive Income $ 16.0 $ 81.2 $ 1.4 $ (82.6 ) $ 16.0 Three Months Ended December 31, 2014 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 960.9 $ 123.4 $ (10.4 ) $ 1,073.9 Cost of goods sold — 728.9 106.3 (10.4 ) 824.8 Gross Profit — 232.0 17.1 — 249.1 Selling, general and administrative expenses 3.5 149.9 13.8 — 167.2 Amortization of intangible assets — 30.8 2.7 — 33.5 Other operating expenses, net — 7.5 — — 7.5 Operating (Loss) Profit (3.5 ) 43.8 0.6 — 40.9 Interest expense, net 57.1 (0.3 ) 3.3 — 60.1 Other expense 54.6 — — — 54.6 (Loss) Earnings before Income Taxes (115.2 ) 44.1 (2.7 ) — (73.8 ) Income tax expense (benefit) 37.9 (13.9 ) (0.5 ) — 23.5 Net (Loss) Earnings before Equity in Subsidiaries (153.1 ) 58.0 (2.2 ) — (97.3 ) Equity earnings (loss) in subsidiaries 55.8 (0.5 ) — (55.3 ) — Net (Loss) Earnings $ (97.3 ) $ 57.5 $ (2.2 ) $ (55.3 ) $ (97.3 ) Total Comprehensive (Loss) Income $ (111.2 ) $ 57.7 $ (9.2 ) $ (48.5 ) $ (111.2 ) POST HOLDINGS, INC. CONDENSED CONSOLIDATING BALANCE SHEETS (Unaudited) December 31, 2015 Parent Non- Company Guarantors Guarantors Eliminations Total ASSETS Current Assets Cash and cash equivalents $ 753.2 $ 42.5 $ 15.5 $ (8.8 ) $ 802.4 Restricted cash 1.1 12.3 0.7 — 14.1 Receivables, net 17.1 310.1 57.6 (17.3 ) 367.5 Inventories — 419.7 67.5 — 487.2 Prepaid expenses and other current assets 12.9 31.6 0.9 — 45.4 Total Current Assets 784.3 816.2 142.2 (26.1 ) 1,716.6 Property, net — 1,324.3 44.3 — 1,368.6 Goodwill — 2,949.0 123.8 — 3,072.8 Other intangible assets, net — 2,852.6 90.6 — 2,943.2 Intercompany receivable 1,174.4 — — (1,174.4 ) — Intercompany notes receivable 141.3 — — (141.3 ) — Investment in subsidiaries 6,374.9 20.9 — (6,395.8 ) — Other assets 55.3 5.9 1.0 — 62.2 Total Assets $ 8,530.2 $ 7,968.9 $ 401.9 $ (7,737.6 ) $ 9,163.4 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities Current portion of long-term debt $ 14.3 $ 1.6 $ 0.3 $ — $ 16.2 Accounts payable 0.2 221.5 37.8 (26.1 ) 233.4 Other current liabilities 85.2 205.5 24.1 — 314.8 Total Current Liabilities 99.7 428.6 62.2 (26.1 ) 564.4 Long-term debt 4,502.6 1.3 2.3 — 4,506.2 Intercompany payable — 1,169.0 5.4 (1,174.4 ) — Intercompany notes payable — — 141.3 (141.3 ) — Deferred income taxes 777.0 — 23.2 — 800.2 Other liabilities 171.3 134.0 7.7 — 313.0 Total Liabilities 5,550.6 1,732.9 242.1 (1,341.8 ) 6,183.8 Total Shareholders’ Equity 2,979.6 6,236.0 159.8 (6,395.8 ) 2,979.6 Total Liabilities and Shareholders’ Equity $ 8,530.2 $ 7,968.9 $ 401.9 $ (7,737.6 ) $ 9,163.4 September 30, 2015 Parent Non- Company Guarantors Guarantors Eliminations Total ASSETS Current Assets Cash and cash equivalents $ 809.6 $ 30.5 $ 19.2 $ (17.9 ) $ 841.4 Restricted cash 1.1 17.0 0.7 — 18.8 Receivables, net 8.5 310.0 61.7 (14.0 ) 366.2 Inventories — 396.1 69.2 — 465.3 Deferred income taxes 47.5 — 0.2 — 47.7 Intercompany notes receivable 7.7 — — (7.7 ) — Prepaid expenses and other current assets 12.7 27.9 1.7 — 42.3 Total Current Assets 887.1 781.5 152.7 (39.6 ) 1,781.7 Property, net — 1,286.0 47.2 — 1,333.2 Goodwill — 2,944.8 128.0 — 3,072.8 Other intangible assets, net — 2,873.3 96.0 — 2,969.3 Intercompany receivable 1,129.8 — — (1,129.8 ) — Intercompany notes receivable 146.2 — — (146.2 ) — Investment in subsidiaries 6,311.9 21.9 — (6,333.8 ) — Other assets 57.4 5.3 0.7 — 63.4 Total Assets $ 8,532.4 $ 7,912.8 $ 424.6 $ (7,649.4 ) $ 9,220.4 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities Current portion of long-term debt $ 14.1 $ 1.6 $ 0.3 $ — $ 16.0 Accounts payable — 254.0 43.1 (31.9 ) 265.2 Intercompany notes payable — — 7.7 (7.7 ) — Other current liabilities 76.1 225.7 28.0 — 329.8 Total Current Liabilities 90.2 481.3 79.1 (39.6 ) 611.0 Long-term debt 4,507.7 1.3 2.4 — 4,511.4 Intercompany payable — 1,124.2 5.6 (1,129.8 ) — Intercompany notes payable — — 146.2 (146.2 ) — Deferred income taxes 807.0 — 24.8 — 831.8 Other liabilities 151.5 130.9 7.8 — 290.2 Total Liabilities 5,556.4 1,737.7 265.9 (1,315.6 ) 6,244.4 Total Shareholders’ Equity 2,976.0 6,175.1 158.7 (6,333.8 ) 2,976.0 Total Liabilities and Shareholders’ Equity $ 8,532.4 $ 7,912.8 $ 424.6 $ (7,649.4 ) $ 9,220.4 POST HOLDINGS, INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended December 31, 2015 Parent Non- Company Guarantors Guarantors Eliminations Total Net Cash Provided by Operating Activities $ 16.5 $ 139.3 $ 5.2 $ (72.3 ) $ 88.7 Cash Flows from Investing Activities Business acquisitions — (94.4 ) — — (94.4 ) Additions to property — (17.9 ) (0.6 ) — (18.5 ) Restricted cash — 4.7 — — 4.7 Proceeds from sale of property — 0.3 — — 0.3 Capitalization of subsidiaries (113.6 ) — — 113.6 — Proceeds from equity distributions 52.3 0.1 — (52.4 ) — Net receipts from intercompany revolver 7.7 — — (7.7 ) — Net Cash Used in Investing Activities (53.6 ) (107.2 ) (0.6 ) 53.5 (107.9 ) Cash Flows from Financing Activities Repayments of long-term debt (3.5 ) — (0.1 ) — (3.6 ) Payment of preferred stock dividend (4.3 ) — — — (4.3 ) Preferred stock conversion (10.9 ) — — — (10.9 ) Proceeds from Parent capitalization — 113.6 — (113.6 ) — Payments for equity distributions — (133.7 ) (0.1 ) 133.8 — Net payments for intercompany revolver — — (7.7 ) 7.7 — Other, net (0.6 ) — — — (0.6 ) Net Cash Used in Financing Activities (19.3 ) (20.1 ) (7.9 ) 27.9 (19.4 ) Effect of exchange rate changes on cash and cash equivalents — — (0.4 ) — (0.4 ) Net (Decrease) Increase in Cash and Cash Equivalents (56.4 ) 12.0 (3.7 ) 9.1 (39.0 ) Cash and Cash Equivalents, Beginning of Year 809.6 30.5 19.2 (17.9 ) 841.4 Cash and Cash Equivalents, End of Period $ 753.2 $ 42.5 $ 15.5 $ (8.8 ) $ 802.4 Three Months Ended December 31, 2014 Parent Non- Company Guarantors Guarantors Eliminations Total Net Cash (Used in) Provided by Operating Activities $ (18.0 ) $ 72.0 $ 5.5 $ (2.3 ) $ 57.2 Cash Flows from Investing Activities Business acquisitions — (183.0 ) (1.2 ) — (184.2 ) Additions to property — (22.5 ) (1.2 ) — (23.7 ) Restricted cash — 68.5 2.7 — 71.2 Capitalization of subsidiaries (57.6 ) — — 57.6 — Net receipts from intercompany revolver 6.3 — — (6.3 ) — Net Cash (Used in) Provided by Investing Activities (51.3 ) (137.0 ) 0.3 51.3 (136.7 ) Cash Flows from Financing Activities Repayments of long term-debt (5.6 ) (1.1 ) — — (6.7 ) Payment of preferred stock dividend (4.3 ) — — — (4.3 ) Proceeds from Parent capitalization — 54.0 3.6 (57.6 ) — Net receipts from intercompany revolver — — (6.3 ) 6.3 — Other, net (0.6 ) — — — (0.6 ) Net Cash (Used in) Provided by Financing Activities (10.5 ) 52.9 (2.7 ) (51.3 ) (11.6 ) Effect of Exchange Rate Changes on Cash and Cash Equivalents — — (0.6 ) — (0.6 ) Net (Decrease) Increase in Cash and Cash Equivalents (79.8 ) (12.1 ) 2.5 (2.3 ) (91.7 ) Cash and Cash Equivalents, Beginning of Year 246.6 15.7 10.0 (3.9 ) 268.4 Cash and Cash Equivalents, End of Period $ 166.8 $ 3.6 $ 12.5 $ (6.2 ) $ 176.7

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Dec. 31, 2015
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	Employee-Related Costs Pension Curtailment Accelerated Depreciation Total Balance at September 30, 2014 $ 0.7 $ — $ — $ 0.7 Charge to expense — — — — Cash payments (0.5 ) — — (0.5 ) Non-cash charges — — — — Balance at December 31, 2014 $ 0.2 $ — $ — $ 0.2 Balance at September 30, 2015 $ 10.5 $ — $ — $ 10.5 Charge to expense 0.9 — 0.3 1.2 Cash payments (2.9 ) — — (2.9 ) Non-cash charges (0.4 ) — (0.3 ) (0.7 ) Balance at December 31, 2015 $ 8.1 $ — $ — $ 8.1 Total expected restructuring charge $ 17.3 $ 1.7 $ 20.1 $ 39.1 Cumulative restructuring charges incurred to date 17.3 1.7 20.0 39.0 Remaining expected restructuring charge $ — $ — $ 0.1 $ 0.1

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	Cash and cash equivalents $ 19.2 Receivables 11.1 Inventories 10.3 Prepaid expenses and other current assets 0.5 Property 56.2 Goodwill 4.2 Other intangible assets 15.2 Other assets 0.1 Accounts payable (2.2 ) Other current liabilities (1.0 ) Total acquisition cost $ 113.6
Business Acquisition, Pro Forma Information	Three Months Ended 2015 2014 Pro forma net sales $ 1,248.8 $ 1,309.9 Pro forma net income (loss) available to common shareholders 11.7 (88.1 ) Pro forma basic income (loss) per common share $ 0.17 $ (1.77 ) Pro forma diluted income (loss) per common share $ 0.17 $ (1.77 )

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in carrying amount of goodwill	Post Consumer Brands Michael Foods Group Active Nutrition Private Brands Total Balance, September 30, 2015 Goodwill (gross) $ 1,993.9 $ 1,341.6 $ 180.7 $ 254.0 $ 3,770.2 Accumulated impairment losses (609.1 ) — (88.3 ) — (697.4 ) Goodwill (net) $ 1,384.8 $ 1,341.6 $ 92.4 $ 254.0 $ 3,072.8 Goodwill acquired — 4.2 — — 4.2 Currency translation adjustment (0.1 ) — — (4.1 ) (4.2 ) Balance, December 31, 2015 Goodwill (gross) $ 1,993.8 $ 1,345.8 $ 180.7 $ 249.9 $ 3,770.2 Accumulated impairment losses (609.1 ) — (88.3 ) — (697.4 ) Goodwill (net) $ 1,384.7 $ 1,345.8 $ 92.4 $ 249.9 $ 3,072.8

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	3 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Total intangible assets	December 31, 2015 September 30, 2015 Carrying Accumulated Amortization Net Carrying Accumulated Amortization Net Subject to amortization: Customer relationships $ 2,008.9 $ (219.5 ) $ 1,789.4 $ 1,998.6 $ (192.7 ) $ 1,805.9 Trademarks/brands 793.8 (89.4 ) 704.4 780.9 (79.1 ) 701.8 Other intangible assets 20.8 (5.9 ) 14.9 21.3 (5.4 ) 15.9 2,823.5 (314.8 ) 2,508.7 2,800.8 (277.2 ) 2,523.6 Not subject to amortization: Trademarks/brands 434.5 — 434.5 445.7 — 445.7 $ 3,258.0 $ (314.8 ) $ 2,943.2 $ 3,246.5 $ (277.2 ) $ 2,969.3

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per share	Three Months Ended 2015 2014 Net earnings for basic earnings (loss) per share $ 10.5 $ (101.6 ) Net earnings for diluted earnings (loss) per share $ 10.5 $ (101.6 ) Weighted-average shares outstanding 62.5 44.9 Effect of TEUs on weighted-average shares for basic earnings (loss) per share 4.9 4.9 Weighted-average shares for basic earnings (loss) per share 67.4 49.8 Effect of dilutive securities: Stock options 1.0 — Stock appreciation rights 0.1 — Restricted stock awards 0.3 — Total dilutive securities 1.4 — Weighted-average shares for diluted earnings (loss) per share 68.8 49.8 Basic earnings (loss) per common share $ 0.16 $ (2.04 ) Diluted earnings (loss) per common share $ 0.15 $ (2.04 )
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	December 31, 2015 2014 Stock options 0.3 4.3 Stock appreciation rights — 0.5 Restricted stock awards 0.2 0.3 TEUs — 1.1 Preferred shares conversion to common 9.1 11.0

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Dec. 31, 2015
Inventory [Abstract]
Schedule of Inventory	December 31, 2015 September 30, 2015 Raw materials and supplies $ 132.0 $ 142.5 Work in process 11.9 15.3 Finished products 313.0 286.8 Flocks 30.3 20.7 $ 487.2 $ 465.3

Property, net (Tables)

Property, net (Tables)	3 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of Property, net	December 31, 2015 September 30, 2015 Property, at cost $ 1,807.5 $ 1,737.7 Accumulated depreciation (438.9 ) (404.5 ) $ 1,368.6 $ 1,333.2

Derivative Financial Instrume31

Derivative Financial Instruments and Hedging (Tables)	3 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position	Fair Value of Assets as of December 31, 2015 Balance Sheet Location Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets Presented in the Condensed Consolidated Balance Sheet Commodity contracts Prepaid expenses and other current assets $ 3.2 $ — $ 3.2 Energy contracts Prepaid expenses and other current assets 0.6 — 0.6 $ 3.8 $ — $ 3.8 Fair Value of Liabilities as of December 31, 2015 Balance Sheet Location Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities Presented in the Condensed Consolidated Balance Sheet Commodity contracts Other current liabilities $ 2.7 $ — $ 2.7 Energy contracts Other current liabilities 5.9 — 5.9 Interest rate swaps Other current liabilities 0.8 — 0.8 Interest rate swaps Other liabilities 147.9 — 147.9 $ 157.3 $ — $ 157.3 Fair Value of Assets as of September 30, 2015 Balance Sheet Location Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets Presented in the Condensed Consolidated Balance Sheet Commodity contracts Prepaid expenses and other current assets $ 0.4 $ — $ 0.4 Energy contracts Prepaid expenses and other current assets 0.2 — 0.2 $ 0.6 $ — $ 0.6 Fair Value of Liabilities as of September 30, 2015 Balance Sheet Location Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities Presented in the Condensed Consolidated Balance Sheet Commodity contracts Other current liabilities $ 1.2 $ — $ 1.2 Energy contracts Other current liabilities 4.7 — 4.7 Interest rate swaps Other current liabilities 4.9 — 4.9 Interest rate swaps Other liabilities 127.9 — 127.9 $ 138.7 $ — $ 138.7
Schedule of Derivative Instruments, (Gain) Loss in Statement of Financial Performance	(Gain) Loss Recognized in Earnings Location of (Gain) Loss Recognized in Earnings Three Months Ended December 31, Derivative Instrument 2015 2014 Commodity contracts Cost of goods sold $ 4.4 $ (8.2 ) Energy contracts Cost of goods sold 4.1 8.5 Interest rate swaps Other expense 15.9 54.6

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value	December 31, 2015 September 30, 2015 Total Level 1 Level 2 Total Level 1 Level 2 Assets: Deferred compensation investment $ 10.8 $ 10.8 $ — $ 10.3 $ 10.3 $ — Derivative assets 3.8 — 3.8 0.6 — 0.6 $ 14.6 $ 10.8 $ 3.8 $ 10.9 $ 10.3 $ 0.6 Liabilities: Deferred compensation liabilities $ 15.0 $ — $ 15.0 $ 14.2 $ — $ 14.2 Derivative liabilities 157.3 — 157.3 138.7 — 138.7 $ 172.3 $ — $ 172.3 $ 152.9 $ — $ 152.9 The following table represents the fair value of Post’s long-term debt which is classified as Level 2 in the fair value hierarchy per ASC Topic 820: December 31, September 30, 2015 Senior notes $ 4,207.6 $ 4,112.5 Term loan 373.3 374.0 TEUs 24.2 28.6 4.57% 2012 Series Bond maturing September 2017 2.9 2.9 Capital leases 2.6 2.8 $ 4,610.6 $ 4,520.8

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt as of the dates indicated consists of the following: December 31, 2015 September 30, 2015 7.375% Senior Notes maturing February 2022 $ 1,375.0 $ 1,375.0 6.75% Senior Notes maturing December 2021 875.0 875.0 6.00% Senior Notes maturing December 2022 630.0 630.0 7.75% Senior Notes maturing March 2024 800.0 800.0 8.00% Senior Notes maturing July 2025 400.0 400.0 Term Loan 374.4 374.4 TEUs 21.6 25.1 4.57% 2012 Series Bond maturing September 2017 2.9 2.9 Capital leases 2.6 2.8 $ 4,481.5 $ 4,485.2 Less: Current Portion (16.2 ) (16.0 ) Plus: Unamortized premium (discount), net 40.9 42.2 Total long-term debt $ 4,506.2 $ 4,511.4

Pension and Other Postretirem34

Pension and Other Postretirement Benefits (Tables)	3 Months Ended
	Dec. 31, 2015
Pension and Other Postretirement Benefit Expense [Abstract]
Schedule of net benefit costs and assumptions used in calculation	Pension Benefits Three Months Ended 2015 2014 Components of net periodic benefit cost Service cost $ 1.0 $ 1.0 Interest cost 0.6 0.6 Expected return on plan assets (0.7 ) (0.7 ) Recognized net actuarial loss 0.3 0.2 Recognized prior service cost 0.1 0.1 Net periodic benefit cost $ 1.3 $ 1.2 Other Benefits Three Months Ended 2015 2014 Components of net periodic benefit cost Service cost $ 0.4 $ 0.5 Interest cost 1.3 1.2 Recognized net actuarial loss 0.4 0.4 Recognized prior service credit (0.3 ) (0.4 ) Net periodic benefit cost $ 1.8 $ 1.7

Segments (Tables)

Segments (Tables)	3 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended 2015 2014 Net Sales Post Consumer Brands $ 411.6 $ 217.5 Michael Foods Group 586.4 599.3 Active Nutrition 115.8 130.4 Private Brands 135.6 127.8 Eliminations (0.6 ) (1.1 ) Total $ 1,248.8 $ 1,073.9 Segment Profit (Loss) Post Consumer Brands $ 62.9 $ 37.6 Michael Foods Group 80.8 42.1 Active Nutrition 10.5 (6.3 ) Private Brands 12.9 6.9 Total segment profit 167.1 80.3 General corporate expenses and other 34.2 39.4 Interest expense, net 77.8 60.1 Other expense 15.9 54.6 Income (loss) before income taxes $ 39.2 $ (73.8 ) Depreciation and amortization Post Consumer Brands $ 26.3 $ 12.2 Michael Foods Group 34.4 36.6 Active Nutrition 6.2 6.9 Private Brands 6.2 6.0 Total segment depreciation and amortization 73.1 61.7 Corporate and accelerated depreciation 1.7 1.4 Total $ 74.8 $ 63.1 Assets December 31, 2015 September 30, 2015 Post Consumer Brands $ 3,448.6 $ 3,473.0 Michael Foods Group 3,552.9 3,506.0 Active Nutrition 644.6 645.4 Private Brands 633.4 651.6 Corporate 883.9 944.4 Total $ 9,163.4 $ 9,220.4

Condensed Consolidating Finan36

Condensed Consolidating Financial Statements of Guarantors (Tables)	3 Months Ended
	Dec. 31, 2015
Schedule Of Condensed Financial Statements [Abstract]
Schedule of Condensed Income Statement [Table Text Block]	POST HOLDINGS, INC. CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended December 31, 2015 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 1,122.2 $ 142.3 $ (15.7 ) $ 1,248.8 Cost of goods sold — 782.4 119.6 (15.7 ) 886.3 Gross Profit — 339.8 22.7 — 362.5 Selling, general and administrative expenses 4.6 173.8 8.6 — 187.0 Amortization of intangible assets — 35.8 2.3 — 38.1 Other operating expenses, net — 4.5 — — 4.5 Operating (Loss) Profit (4.6 ) 125.7 11.8 — 132.9 Interest expense (income), net 75.2 (0.2 ) 2.8 — 77.8 Other expense 15.9 — — — 15.9 (Loss) Earnings before Income Taxes (95.7 ) 125.9 9.0 — 39.2 Income tax (benefit) expense (33.4 ) 44.5 2.6 — 13.7 Net (Loss) Earnings before Equity in Subsidiaries (62.3 ) 81.4 6.4 — 25.5 Equity earnings (loss) in subsidiaries 87.8 (0.5 ) — (87.3 ) — Net Earnings $ 25.5 $ 80.9 $ 6.4 $ (87.3 ) $ 25.5 Total Comprehensive Income $ 16.0 $ 81.2 $ 1.4 $ (82.6 ) $ 16.0 Three Months Ended December 31, 2014 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 960.9 $ 123.4 $ (10.4 ) $ 1,073.9 Cost of goods sold — 728.9 106.3 (10.4 ) 824.8 Gross Profit — 232.0 17.1 — 249.1 Selling, general and administrative expenses 3.5 149.9 13.8 — 167.2 Amortization of intangible assets — 30.8 2.7 — 33.5 Other operating expenses, net — 7.5 — — 7.5 Operating (Loss) Profit (3.5 ) 43.8 0.6 — 40.9 Interest expense, net 57.1 (0.3 ) 3.3 — 60.1 Other expense 54.6 — — — 54.6 (Loss) Earnings before Income Taxes (115.2 ) 44.1 (2.7 ) — (73.8 ) Income tax expense (benefit) 37.9 (13.9 ) (0.5 ) — 23.5 Net (Loss) Earnings before Equity in Subsidiaries (153.1 ) 58.0 (2.2 ) — (97.3 ) Equity earnings (loss) in subsidiaries 55.8 (0.5 ) — (55.3 ) — Net (Loss) Earnings $ (97.3 ) $ 57.5 $ (2.2 ) $ (55.3 ) $ (97.3 ) Total Comprehensive (Loss) Income $ (111.2 ) $ 57.7 $ (9.2 ) $ (48.5 ) $ (111.2 )
Schedule of Condensed Balance Sheet [Table Text Block]	POST HOLDINGS, INC. CONDENSED CONSOLIDATING BALANCE SHEETS (Unaudited) December 31, 2015 Parent Non- Company Guarantors Guarantors Eliminations Total ASSETS Current Assets Cash and cash equivalents $ 753.2 $ 42.5 $ 15.5 $ (8.8 ) $ 802.4 Restricted cash 1.1 12.3 0.7 — 14.1 Receivables, net 17.1 310.1 57.6 (17.3 ) 367.5 Inventories — 419.7 67.5 — 487.2 Prepaid expenses and other current assets 12.9 31.6 0.9 — 45.4 Total Current Assets 784.3 816.2 142.2 (26.1 ) 1,716.6 Property, net — 1,324.3 44.3 — 1,368.6 Goodwill — 2,949.0 123.8 — 3,072.8 Other intangible assets, net — 2,852.6 90.6 — 2,943.2 Intercompany receivable 1,174.4 — — (1,174.4 ) — Intercompany notes receivable 141.3 — — (141.3 ) — Investment in subsidiaries 6,374.9 20.9 — (6,395.8 ) — Other assets 55.3 5.9 1.0 — 62.2 Total Assets $ 8,530.2 $ 7,968.9 $ 401.9 $ (7,737.6 ) $ 9,163.4 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities Current portion of long-term debt $ 14.3 $ 1.6 $ 0.3 $ — $ 16.2 Accounts payable 0.2 221.5 37.8 (26.1 ) 233.4 Other current liabilities 85.2 205.5 24.1 — 314.8 Total Current Liabilities 99.7 428.6 62.2 (26.1 ) 564.4 Long-term debt 4,502.6 1.3 2.3 — 4,506.2 Intercompany payable — 1,169.0 5.4 (1,174.4 ) — Intercompany notes payable — — 141.3 (141.3 ) — Deferred income taxes 777.0 — 23.2 — 800.2 Other liabilities 171.3 134.0 7.7 — 313.0 Total Liabilities 5,550.6 1,732.9 242.1 (1,341.8 ) 6,183.8 Total Shareholders’ Equity 2,979.6 6,236.0 159.8 (6,395.8 ) 2,979.6 Total Liabilities and Shareholders’ Equity $ 8,530.2 $ 7,968.9 $ 401.9 $ (7,737.6 ) $ 9,163.4 September 30, 2015 Parent Non- Company Guarantors Guarantors Eliminations Total ASSETS Current Assets Cash and cash equivalents $ 809.6 $ 30.5 $ 19.2 $ (17.9 ) $ 841.4 Restricted cash 1.1 17.0 0.7 — 18.8 Receivables, net 8.5 310.0 61.7 (14.0 ) 366.2 Inventories — 396.1 69.2 — 465.3 Deferred income taxes 47.5 — 0.2 — 47.7 Intercompany notes receivable 7.7 — — (7.7 ) — Prepaid expenses and other current assets 12.7 27.9 1.7 — 42.3 Total Current Assets 887.1 781.5 152.7 (39.6 ) 1,781.7 Property, net — 1,286.0 47.2 — 1,333.2 Goodwill — 2,944.8 128.0 — 3,072.8 Other intangible assets, net — 2,873.3 96.0 — 2,969.3 Intercompany receivable 1,129.8 — — (1,129.8 ) — Intercompany notes receivable 146.2 — — (146.2 ) — Investment in subsidiaries 6,311.9 21.9 — (6,333.8 ) — Other assets 57.4 5.3 0.7 — 63.4 Total Assets $ 8,532.4 $ 7,912.8 $ 424.6 $ (7,649.4 ) $ 9,220.4 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities Current portion of long-term debt $ 14.1 $ 1.6 $ 0.3 $ — $ 16.0 Accounts payable — 254.0 43.1 (31.9 ) 265.2 Intercompany notes payable — — 7.7 (7.7 ) — Other current liabilities 76.1 225.7 28.0 — 329.8 Total Current Liabilities 90.2 481.3 79.1 (39.6 ) 611.0 Long-term debt 4,507.7 1.3 2.4 — 4,511.4 Intercompany payable — 1,124.2 5.6 (1,129.8 ) — Intercompany notes payable — — 146.2 (146.2 ) — Deferred income taxes 807.0 — 24.8 — 831.8 Other liabilities 151.5 130.9 7.8 — 290.2 Total Liabilities 5,556.4 1,737.7 265.9 (1,315.6 ) 6,244.4 Total Shareholders’ Equity 2,976.0 6,175.1 158.7 (6,333.8 ) 2,976.0 Total Liabilities and Shareholders’ Equity $ 8,532.4 $ 7,912.8 $ 424.6 $ (7,649.4 ) $ 9,220.4
Schedule of Condensed Cash Flow Statement [Table Text Block]	POST HOLDINGS, INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended December 31, 2015 Parent Non- Company Guarantors Guarantors Eliminations Total Net Cash Provided by Operating Activities $ 16.5 $ 139.3 $ 5.2 $ (72.3 ) $ 88.7 Cash Flows from Investing Activities Business acquisitions — (94.4 ) — — (94.4 ) Additions to property — (17.9 ) (0.6 ) — (18.5 ) Restricted cash — 4.7 — — 4.7 Proceeds from sale of property — 0.3 — — 0.3 Capitalization of subsidiaries (113.6 ) — — 113.6 — Proceeds from equity distributions 52.3 0.1 — (52.4 ) — Net receipts from intercompany revolver 7.7 — — (7.7 ) — Net Cash Used in Investing Activities (53.6 ) (107.2 ) (0.6 ) 53.5 (107.9 ) Cash Flows from Financing Activities Repayments of long-term debt (3.5 ) — (0.1 ) — (3.6 ) Payment of preferred stock dividend (4.3 ) — — — (4.3 ) Preferred stock conversion (10.9 ) — — — (10.9 ) Proceeds from Parent capitalization — 113.6 — (113.6 ) — Payments for equity distributions — (133.7 ) (0.1 ) 133.8 — Net payments for intercompany revolver — — (7.7 ) 7.7 — Other, net (0.6 ) — — — (0.6 ) Net Cash Used in Financing Activities (19.3 ) (20.1 ) (7.9 ) 27.9 (19.4 ) Effect of exchange rate changes on cash and cash equivalents — — (0.4 ) — (0.4 ) Net (Decrease) Increase in Cash and Cash Equivalents (56.4 ) 12.0 (3.7 ) 9.1 (39.0 ) Cash and Cash Equivalents, Beginning of Year 809.6 30.5 19.2 (17.9 ) 841.4 Cash and Cash Equivalents, End of Period $ 753.2 $ 42.5 $ 15.5 $ (8.8 ) $ 802.4 Three Months Ended December 31, 2014 Parent Non- Company Guarantors Guarantors Eliminations Total Net Cash (Used in) Provided by Operating Activities $ (18.0 ) $ 72.0 $ 5.5 $ (2.3 ) $ 57.2 Cash Flows from Investing Activities Business acquisitions — (183.0 ) (1.2 ) — (184.2 ) Additions to property — (22.5 ) (1.2 ) — (23.7 ) Restricted cash — 68.5 2.7 — 71.2 Capitalization of subsidiaries (57.6 ) — — 57.6 — Net receipts from intercompany revolver 6.3 — — (6.3 ) — Net Cash (Used in) Provided by Investing Activities (51.3 ) (137.0 ) 0.3 51.3 (136.7 ) Cash Flows from Financing Activities Repayments of long term-debt (5.6 ) (1.1 ) — — (6.7 ) Payment of preferred stock dividend (4.3 ) — — — (4.3 ) Proceeds from Parent capitalization — 54.0 3.6 (57.6 ) — Net receipts from intercompany revolver — — (6.3 ) 6.3 — Other, net (0.6 ) — — — (0.6 ) Net Cash (Used in) Provided by Financing Activities (10.5 ) 52.9 (2.7 ) (51.3 ) (11.6 ) Effect of Exchange Rate Changes on Cash and Cash Equivalents — — (0.6 ) — (0.6 ) Net (Decrease) Increase in Cash and Cash Equivalents (79.8 ) (12.1 ) 2.5 (2.3 ) (91.7 ) Cash and Cash Equivalents, Beginning of Year 246.6 15.7 10.0 (3.9 ) 268.4 Cash and Cash Equivalents, End of Period $ 166.8 $ 3.6 $ 12.5 $ (6.2 ) $ 176.7

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2015	Sep. 30, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 8.1	$ 0.2	$ 10.5	$ 0.7
Charge to expense	1.2	0
Cash payments	(2.9)	(0.5)
Non-cash charges	(0.7)	0
Total expected restructuring charge	39.1
Cumulative restructuring charges incurred to date	39
Remaining expected restructuring charge	0.1
Loss on write-down of assets held for sale	4	7.1
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	8.1	0.2	10.5	0.7
Charge to expense	0.9	0
Cash payments	(2.9)	(0.5)
Non-cash charges	(0.4)	0
Total expected restructuring charge	17.3
Cumulative restructuring charges incurred to date	17.3
Remaining expected restructuring charge	0
Pension curtailment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0	0	0	0
Charge to expense	0	0
Cash payments	0	0
Non-cash charges	0	0
Total expected restructuring charge	1.7
Cumulative restructuring charges incurred to date	1.7
Remaining expected restructuring charge	0
Accelerated depreciation [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0	0	0	$ 0
Charge to expense	0.3	0
Cash payments	0	0
Non-cash charges	(0.3)	$ 0
Total expected restructuring charge	20.1
Cumulative restructuring charges incurred to date	20
Remaining expected restructuring charge	0.1
Level 3
Restructuring Cost and Reserve [Line Items]
Carrying value of assets held for sale	$ 7.6		$ 11.4

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Oct. 04, 2015	May. 04, 2015	Nov. 01, 2014	Oct. 02, 2014	Dec. 31, 2015	Sep. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Oct. 03, 2015	May. 01, 2015
Business Acquisition [Line Items]
Common Stock, Shares, Issued					900					2,450
Net Sales					$ 1,248.8			$ 1,073.9
Operating Profit (Loss)					132.9			40.9
Goodwill					3,072.8	$ 3,072.8
Business Combination, Acquisition Related Costs					2			$ 5
Willamette Egg [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 90
Business Combination, Consideration Transferred	109
Business Combinations, Purchase Price Adjustment, Net Working Capital Settlement					4.6
Net Sales					29.7
Operating Profit (Loss)					$ 8.4
Cash and cash equivalents									$ 19.2
Receivables									11.1
Inventories									10.3
Prepaid expenses and other current assets									0.5
Property									56.2
Goodwill									4.2
Other intangible assets									15.2
Other assets									0.1
Accounts payable									(2.2)
Other current liabilities									(1)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net									$ 113.6
MOM Brands Company [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred		$ 1,181.5
Shares Issued, Price Per Share										$ 46.60
Business Combination, Consideration Transferred, Other		$ 114.4
Business Combinations, Purchase Price Adjustment, Net Working Capital Settlement						$ 4
American Blanching Company [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross			$ 128
PowerBar and Musashi [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross				$ 150
Business Combination, Consideration Transferred				$ 136.1
Business Combinations, Purchase Price Adjustment, Net Working Capital Settlement							$ 1.7
Customer Relationships [Member] | Willamette Egg [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 12.7
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years
Trademarks [Member] | Willamette Egg [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 2.5
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years

Business combinations pro forma

Business combinations pro forma financial information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Combinations [Abstract]
Pro forma net sales	$ 1,248.8	$ 1,309.9
Pro forma net income (loss) available to common shareholders	$ 11.7	$ (88.1)
Pro forma basic income (loss) per share (in US$ per share)	$ 0.17	$ (1.77)
Pro forma diluted income (loss) per share (in US$ per share)	$ 0.17	$ (1.77)

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Sep. 30, 2015
Goodwill [Roll Forward]
Goodwill, Gross	$ 3,770.2
Goodwill, Impaired, Accumulated Impairment Loss	(697.4)
Goodwill, beginning of period	3,072.8	$ 3,072.8
Goodwill, Acquired During Period	4.2
Currency translation adjustment	(4.2)
Goodwill, Gross	3,770.2
Goodwill, Impaired, Accumulated Impairment Loss	(697.4)
Goodwill, end of period	3,072.8
Post Consumer Brands Segment [Member]
Goodwill [Roll Forward]
Goodwill, Gross	1,993.9
Goodwill, Impaired, Accumulated Impairment Loss	(609.1)
Goodwill, beginning of period	1,384.7	1,384.8
Goodwill, Acquired During Period	0
Currency translation adjustment	(0.1)
Goodwill, Gross	1,993.8
Goodwill, Impaired, Accumulated Impairment Loss	(609.1)
Goodwill, end of period	1,384.7
Michael Foods Group Segment [Member]
Goodwill [Roll Forward]
Goodwill, Gross	1,341.6
Goodwill, Impaired, Accumulated Impairment Loss	0
Goodwill, beginning of period	1,345.8	1,341.6
Goodwill, Acquired During Period	4.2
Currency translation adjustment	0
Goodwill, Gross	1,345.8
Goodwill, Impaired, Accumulated Impairment Loss	0
Goodwill, end of period	1,345.8
Active Nutrition segment [Member] [Member]
Goodwill [Roll Forward]
Goodwill, Gross	180.7
Goodwill, Impaired, Accumulated Impairment Loss	(88.3)
Goodwill, beginning of period	92.4	92.4
Goodwill, Acquired During Period	0
Currency translation adjustment	0
Goodwill, Gross	180.7
Goodwill, Impaired, Accumulated Impairment Loss	(88.3)
Goodwill, end of period	92.4
Private Brands segment [Member]
Goodwill [Roll Forward]
Goodwill, Gross	254
Goodwill, Impaired, Accumulated Impairment Loss	0
Goodwill, beginning of period	249.9	$ 254
Goodwill, Acquired During Period	0
Currency translation adjustment	(4.1)
Goodwill, Gross	249.9
Goodwill, Impaired, Accumulated Impairment Loss	0
Goodwill, end of period	$ 249.9

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Percent	34.90%	(31.80%)

Intangible Assets, net (Details

Intangible Assets, net (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Finite-Lived Intangible Assets [Abstract]
Finite-Lived Intangible Assets, Gross	$ 2,823.5	$ 2,800.8
Finite-Lived Intangible Assets, Accumulated Amortization	(314.8)	(277.2)
Finite-Lived Intangible Assets, Net	2,508.7	2,523.6
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Carrying amount, total	3,258	3,246.5
Other intangible assets, net	2,943.2	2,969.3
Trademarks [Member]
Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract]
Carrying amount	434.5	445.7
Customer Relationships [Member]
Finite-Lived Intangible Assets [Abstract]
Finite-Lived Intangible Assets, Gross	2,008.9	1,998.6
Finite-Lived Intangible Assets, Accumulated Amortization	(219.5)	(192.7)
Finite-Lived Intangible Assets, Net	1,789.4	1,805.9
Trademarks [Member]
Finite-Lived Intangible Assets [Abstract]
Finite-Lived Intangible Assets, Gross	793.8	780.9
Finite-Lived Intangible Assets, Accumulated Amortization	(89.4)	(79.1)
Finite-Lived Intangible Assets, Net	704.4	701.8
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Abstract]
Finite-Lived Intangible Assets, Gross	20.8	21.3
Finite-Lived Intangible Assets, Accumulated Amortization	(5.9)	(5.4)
Finite-Lived Intangible Assets, Net	$ 14.9	$ 15.9

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net Earnings (Loss) Available to Common Shareholders	$ 10.5	$ (101.6)
Weighted Average Number of Shares Outstanding, Basic and Diluted	62,500,000	44,900,000
Dilutive Securities, Effect on Basic Earnings Per Share	4,900,000	4,900,000
Weighted-average shares for basic earnings per share	67,400,000	49,800,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	1,400,000	0
Weighted-average shares for diluted earnings per share	68,800,000	49,800,000
Basic earnings per share (in usd per share)	$ 0.16	$ (2.04)
Diluted earnings per share (in usd per share)	$ 0.15	$ (2.04)
Employee Stock Option [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	1,000,000	0
Stock Appreciation Rights (SARs) [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	100,000	0
Restricted Stock [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	300,000	0
Minimum [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Tangible Equity Unit, Equity Component, Settlement Rate per Unit	1.7114
Maximum [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Tangible Equity Unit, Equity Component, Settlement Rate per Unit	2.0964

Earnings (Loss) Per Share Antid

Earnings (Loss) Per Share Antidilutive shares excluded from earnings per share (Details) - shares shares in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.3	4.3
Stock Appreciation Rights (SARs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0.5
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.2	0.3
Tangible Equity Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	1.1
Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	9.1	11

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Inventory [Abstract]
Raw materials and supplies	$ 132	$ 142.5
Work in process	11.9	15.3
Finished products	313	286.8
Flocks	30.3	20.7
Inventories	$ 487.2	$ 465.3

Property, net (Details)

Property, net (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Property, at cost	$ 1,807.5	$ 1,737.7
Accumulated depreciation	(438.9)	(404.5)
Property, net	$ 1,368.6	$ 1,333.2

Derivative Financial Instrume47

Derivative Financial Instruments and Hedging (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Sep. 30, 2015
Derivatives, Fair Value
Collateral Already Posted	$ 12.3	$ 10.7
Hedging-related liability, not yet cash settled	$ 4.7
Derivative, Remaining Maturity	12 months
Other Current Assets [Member]
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	$ 3.8	0.6
Derivative Asset, Fair Value, Gross Liability	0	0
Derivative Assets (Liabilities), at Fair Value, Net	3.8	0.6
Liabilities, Total [Member]
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Asset, Fair Value, Gross Liability	157.3	138.7
Derivative Assets (Liabilities), at Fair Value, Net	157.3	138.7
Commodity Contract [Member]
Derivatives, Fair Value
Derivative, Notional Amount	38.5
Commodity Contract [Member] | Other Current Assets [Member]
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	3.2	0.4
Derivative Asset, Fair Value, Gross Liability	0	0
Derivative Assets (Liabilities), at Fair Value, Net	3.2	0.4
Commodity Contract [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Asset, Fair Value, Gross Liability	2.7	1.2
Derivative Assets (Liabilities), at Fair Value, Net	2.7	1.2
Energy Contracts [Member]
Derivatives, Fair Value
Derivative, Notional Amount	17.4
Energy Contracts [Member] | Other Current Assets [Member]
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	0.6	0.2
Derivative Asset, Fair Value, Gross Liability	0	0
Derivative Assets (Liabilities), at Fair Value, Net	0.6	0.2
Energy Contracts [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Asset, Fair Value, Gross Liability	5.9	4.7
Derivative Assets (Liabilities), at Fair Value, Net	5.9	4.7
Interest Rate Swap [Member]
Derivatives, Fair Value
Derivative, Notional Amount	$ 78.3
Derivative, Fixed Interest Rate	3.10%
Interest Rate Swap [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	$ 0	0
Derivative Asset, Fair Value, Gross Liability	0.8	4.9
Derivative Assets (Liabilities), at Fair Value, Net	0.8	4.9
Interest Rate Swap [Member] | Other Noncurrent Liabilities [Member]
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Asset, Fair Value, Gross Liability	147.9	127.9
Derivative Assets (Liabilities), at Fair Value, Net	147.9	$ 127.9
Interest rate swap, rate lock swaps, net settlement July 2018 [Member]
Derivatives, Fair Value
Derivative, Notional Amount	$ 750
Derivative, Fixed Interest Rate	4.00%
Interest rate swap, rate lock swaps, net settlement December 2019 [Member]
Derivatives, Fair Value
Derivative, Notional Amount	$ 899.3
Derivative, Fixed Interest Rate	3.70%

Derivative Financial Instrume48

Derivative Financial Instruments and Hedging Gain(Loss) recognized in earnings from derivative instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Commodity Contract [Member] | Cost of Sales [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Derivative Instruments, (Gain) Loss Recognized in Income, Net	$ 4.4	$ (8.2)
Energy Contracts [Member] | Cost of Sales [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Derivative Instruments, (Gain) Loss Recognized in Income, Net	4.1	8.5
Interest Rate Swap [Member] | Operating Expense [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Derivative Instruments, (Gain) Loss Recognized in Income, Net	$ 15.9	$ 54.6

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Deferred Compensation Plan Assets	$ 10.8	$ 10.3
Derivative instruments	3.8	0.6
Assets, Fair Value Disclosure	14.6	10.9
Deferred compensation liabilities	15	14.2
Derivative Liability	157.3	138.7
Other Liabilities, Fair Value Disclosure	172.3	152.9
Long-term Debt, Fair Value	4,610.6	4,520.8
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Deferred Compensation Plan Assets	10.8	10.3
Derivative instruments	0	0
Assets, Fair Value Disclosure	10.8	10.3
Deferred compensation liabilities	0	0
Derivative Liability	0	0
Other Liabilities, Fair Value Disclosure	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Deferred Compensation Plan Assets	0	0
Derivative instruments	3.8	0.6
Assets, Fair Value Disclosure	3.8	0.6
Deferred compensation liabilities	15	14.2
Derivative Liability	157.3	138.7
Other Liabilities, Fair Value Disclosure	172.3	152.9
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying value of assets held for sale	7.6	11.4
Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	4,207.6	4,112.5
Term Loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	373.3	374
TEUs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	24.2	28.6
Secured Debt, Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	2.9	2.9
Capital Lease Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	$ 2.6	$ 2.8

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	May. 01, 2015
Stockholders' Equity Note [Abstract]
Common Stock, Shares, Issued	900,000		2,450,000
Convertible preferred stock, preferred shares converted	2,000,000
Preferred stock conversion	$ 10.9	$ 0
Convertible Preferred Stock, Shares Issued upon Conversion	2.1192
Reclassifications of of accumulated other comprehensive income, pension and postretirement benefits	$ 0.5	$ 0.3

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	3 Months Ended
	Dec. 31, 2015	Sep. 30, 2015
Debt Instrument
Secured Debt, Other	$ 2,900,000	$ 2,900,000
Capital Lease Obligations	2,600,000	2,800,000
Long-term Debt	4,481,500,000	4,485,200,000
Current portion of long-term debt	(16,200,000)	(16,000,000)
Plus: Unamortized premium (discount), net	40,900,000	42,200,000
Long-term debt	4,506,200,000	4,511,400,000
Line of Credit Facility, Maximum Borrowing Capacity	400,000,000
Letters of Credit Outstanding, Amount	12,100,000
Line of Credit Facility, Remaining Borrowing Capacity	387,900,000
Debt Covenant, Leverage Ratio	3
Debt covenant, interest coverage ratio	1.75
Debt covenant, consolidated interest coverage ratio	2
Debt Covenant, Maximum Undischarged Judgments	75,000,000
7.375% Senior Notes [Member]
Debt Instrument
Senior Notes	1,375,000,000	1,375,000,000
6.75% Senior Notes [Member]
Debt Instrument
Senior Notes	875,000,000	875,000,000
6.00% Senior Notes [Member]
Debt Instrument
Senior Notes	630,000,000	630,000,000
7.75% Senior Notes [Member]
Debt Instrument
Senior Notes	800,000,000	800,000,000
8.00% Senior Notes [Member]
Debt Instrument
Senior Notes	400,000,000	400,000,000
Term Loan [Member]
Debt Instrument
Loans Payable to Bank	374,400,000	374,400,000
Tangible Equity Units Debt Component [Member]
Debt Instrument
Tangible Equity Units, Debt Component	$ 21,600,000	$ 25,100,000

Pension and Other Postretirem52

Pension and Other Postretirement Benefits - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Pension Benefits
Components of net periodic benefit cost [Abstract]
Service cost	$ 1	$ 1
Interest cost	0.6	0.6
Expected return on plan assets	(0.7)	(0.7)
Recognized net actuarial loss	0.3	0.2
Recognized prior service cost	0.1	0.1
Net periodic benefit cost	1.3	1.2
Other Benefits
Components of net periodic benefit cost [Abstract]
Service cost	0.4	0.5
Interest cost	1.3	1.2
Recognized net actuarial loss	0.4	0.4
Recognized prior service cost	(0.3)	(0.4)
Net periodic benefit cost	$ 1.8	$ 1.7

Segments (Details)

Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2015
Segment Reporting Information [Line Items]
Net Sales	$ 1,248.8	$ 1,073.9
Interest expense (income), net	77.8	60.1
Other expense	15.9	54.6
Income (loss) before income taxes	39.2	(73.8)
Depreciation and amortization	74.8	63.1
Assets	9,163.4		$ 9,220.4
Post Consumer Brands Segment [Member]
Segment Reporting Information [Line Items]
Net Sales	411.6	217.5
Segment Profit	62.9	37.6
Depreciation and amortization	26.3	12.2
Assets	3,448.6		3,473
Michael Foods Group Segment [Member]
Segment Reporting Information [Line Items]
Net Sales	586.4	599.3
Segment Profit	80.8	42.1
Depreciation and amortization	34.4	36.6
Assets	3,552.9		3,506
Active Nutrition segment [Member] [Member]
Segment Reporting Information [Line Items]
Net Sales	115.8	130.4
Segment Profit	10.5	(6.3)
Depreciation and amortization	6.2	6.9
Assets	644.6		645.4
Private Brands segment [Member]
Segment Reporting Information [Line Items]
Net Sales	135.6	127.8
Segment Profit	12.9	6.9
Depreciation and amortization	6.2	6
Assets	633.4		651.6
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Other Expenses	34.2	39.4
Depreciation and amortization	1.7	1.4
Assets	883.9		$ 944.4
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net Sales	(0.6)	(1.1)
Total Segment [Member]
Segment Reporting Information [Line Items]
Segment Profit	167.1	80.3
Depreciation and amortization	$ 73.1	$ 61.7

Condensed Consolidating Finan54

Condensed Consolidating Financial Statements of Guarantors - Combined Statements of Operations (Condensed) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Net Sales	$ 1,248.8	$ 1,073.9
Cost of goods sold	886.3	824.8
Gross Profit	362.5	249.1
Selling, general and administrative expenses	187	167.2
Amortization of intangible assets	38.1	33.5
Other operating expenses, net	4.5	7.5
Operating Profit	132.9	40.9
Interest expense (income), net	77.8	60.1
Other expense	15.9	54.6
Earnings (Loss) before Income Taxes	39.2	(73.8)
Income tax expense	13.7	23.5
Net (Loss) Earnings before Equity in Subsidiaries	25.5	(97.3)
Equity earnings (loss) in subsidiaries	0	0
Net Earnings (Loss)	25.5	(97.3)
Total Comprehensive Income (Loss)	16	(111.2)
Parent Company
Condensed Financial Statements, Captions [Line Items]
Net Sales	0	0
Cost of goods sold	0	0
Gross Profit	0	0
Selling, general and administrative expenses	4.6	3.5
Amortization of intangible assets	0	0
Other operating expenses, net	0	0
Operating Profit	(4.6)	(3.5)
Interest expense (income), net	75.2	57.1
Other expense	15.9	54.6
Earnings (Loss) before Income Taxes	(95.7)	(115.2)
Income tax expense	(33.4)	37.9
Net (Loss) Earnings before Equity in Subsidiaries	(62.3)	(153.1)
Equity earnings (loss) in subsidiaries	87.8	55.8
Net Earnings (Loss)	25.5	(97.3)
Total Comprehensive Income (Loss)	16	(111.2)
Guarantors
Condensed Financial Statements, Captions [Line Items]
Net Sales	1,122.2	960.9
Cost of goods sold	782.4	728.9
Gross Profit	339.8	232
Selling, general and administrative expenses	173.8	149.9
Amortization of intangible assets	35.8	30.8
Other operating expenses, net	4.5	7.5
Operating Profit	125.7	43.8
Interest Income (Expense), Nonoperating, Net	(0.2)	(0.3)
Other expense	0	0
Earnings (Loss) before Income Taxes	125.9	44.1
Income tax expense	44.5	(13.9)
Net (Loss) Earnings before Equity in Subsidiaries	81.4	58
Equity earnings (loss) in subsidiaries	(0.5)	(0.5)
Net Earnings (Loss)	80.9	57.5
Total Comprehensive Income (Loss)	81.2	57.7
Non-Guarantors
Condensed Financial Statements, Captions [Line Items]
Net Sales	142.3	123.4
Cost of goods sold	119.6	106.3
Gross Profit	22.7	17.1
Selling, general and administrative expenses	8.6	13.8
Amortization of intangible assets	2.3	2.7
Other operating expenses, net	0	0
Operating Profit	11.8	0.6
Interest expense (income), net	2.8	3.3
Other expense	0	0
Earnings (Loss) before Income Taxes	9	(2.7)
Income tax expense	2.6	(0.5)
Net (Loss) Earnings before Equity in Subsidiaries	6.4	(2.2)
Equity earnings (loss) in subsidiaries	0	0
Net Earnings (Loss)	6.4	(2.2)
Total Comprehensive Income (Loss)	1.4	(9.2)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net Sales	(15.7)	(10.4)
Cost of goods sold	(15.7)	(10.4)
Gross Profit	0	0
Selling, general and administrative expenses	0	0
Amortization of intangible assets	0	0
Other operating expenses, net	0	0
Operating Profit	0	0
Interest expense (income), net	0	0
Other expense	0	0
Earnings (Loss) before Income Taxes	0	0
Income tax expense	0	0
Net (Loss) Earnings before Equity in Subsidiaries	0	0
Equity earnings (loss) in subsidiaries	(87.3)	(55.3)
Net Earnings (Loss)	(87.3)	(55.3)
Total Comprehensive Income (Loss)	$ (82.6)	$ (48.5)

Condensed Consolidating Finan55

Condensed Consolidating Financial Statements of Guarantors - Consolidated Balance Sheets (Condensed) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Assets, Current [Abstract]
Cash and cash equivalents	$ 802.4	$ 841.4	$ 176.7	$ 268.4
Restricted cash	14.1	18.8
Receivables, net	367.5	366.2
Inventories	487.2	465.3
Deferred income taxes	0	47.7
Intercompany notes receivable		0
Prepaid expenses and other current assets	45.4	42.3
Total Current Assets	1,716.6	1,781.7
Assets, Noncurrent [Abstract]
Property, net	1,368.6	1,333.2
Goodwill	3,072.8	3,072.8
Other intangible assets, net	2,943.2	2,969.3
Intercompany receivable	0	0
Intercompany notes receivable	0	0
Investment in subsidiaries	0	0
Other assets	62.2	63.4
Total Assets	9,163.4	9,220.4
Liabilities, Current [Abstract]
Current portion of long-term debt	16.2	16
Accounts payable	233.4	265.2
Intercompany notes payable		0
Other current liabilities	314.8	329.8
Total Current Liabilities	564.4	611
Liabilities, Noncurrent [Abstract]
Long-term debt	4,506.2	4,511.4
Intercompany payable	0	0
Intercompany notes payable	0	0
Deferred income taxes	800.2	831.8
Other liabilities	313	290.2
Total Liabilities	6,183.8	6,244.4
Total Shareholders’ Equity	2,979.6	2,976
Total Liabilities and Shareholders’ Equity	9,163.4	9,220.4
Parent Company
Assets, Current [Abstract]
Cash and cash equivalents	753.2	809.6	166.8	246.6
Restricted cash	1.1	1.1
Receivables, net	17.1	8.5
Inventories	0	0
Deferred income taxes		47.5
Intercompany notes receivable		7.7
Prepaid expenses and other current assets	12.9	12.7
Total Current Assets	784.3	887.1
Assets, Noncurrent [Abstract]
Property, net	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Intercompany receivable	1,174.4	1,129.8
Intercompany notes receivable	141.3	146.2
Investment in subsidiaries	6,374.9	6,311.9
Other assets	55.3	57.4
Total Assets	8,530.2	8,532.4
Liabilities, Current [Abstract]
Current portion of long-term debt	14.3	14.1
Accounts payable	0.2	0
Intercompany notes payable		0
Other current liabilities	85.2	76.1
Total Current Liabilities	99.7	90.2
Liabilities, Noncurrent [Abstract]
Long-term debt	4,502.6	4,507.7
Intercompany payable	0	0
Intercompany notes payable	0	0
Deferred income taxes	777	807
Other liabilities	171.3	151.5
Total Liabilities	5,550.6	5,556.4
Total Shareholders’ Equity	2,979.6	2,976
Total Liabilities and Shareholders’ Equity	8,530.2	8,532.4
Guarantors
Assets, Current [Abstract]
Cash and cash equivalents	42.5	30.5	3.6	15.7
Restricted cash	12.3	17
Receivables, net	310.1	310
Inventories	419.7	396.1
Deferred income taxes		0
Intercompany notes receivable		0
Prepaid expenses and other current assets	31.6	27.9
Total Current Assets	816.2	781.5
Assets, Noncurrent [Abstract]
Property, net	1,324.3	1,286
Goodwill	2,949	2,944.8
Other intangible assets, net	2,852.6	2,873.3
Intercompany receivable	0	0
Intercompany notes receivable	0	0
Investment in subsidiaries	20.9	21.9
Other assets	5.9	5.3
Total Assets	7,968.9	7,912.8
Liabilities, Current [Abstract]
Current portion of long-term debt	1.6	1.6
Accounts payable	221.5	254
Intercompany notes payable		0
Other current liabilities	205.5	225.7
Total Current Liabilities	428.6	481.3
Liabilities, Noncurrent [Abstract]
Long-term debt	1.3	1.3
Intercompany payable	1,169	1,124.2
Intercompany notes payable	0	0
Deferred income taxes	0	0
Other liabilities	134	130.9
Total Liabilities	1,732.9	1,737.7
Total Shareholders’ Equity	6,236	6,175.1
Total Liabilities and Shareholders’ Equity	7,968.9	7,912.8
Non-Guarantors
Assets, Current [Abstract]
Cash and cash equivalents	15.5	19.2	12.5	10
Restricted cash	0.7	0.7
Receivables, net	57.6	61.7
Inventories	67.5	69.2
Deferred income taxes		0.2
Intercompany notes receivable		0
Prepaid expenses and other current assets	0.9	1.7
Total Current Assets	142.2	152.7
Assets, Noncurrent [Abstract]
Property, net	44.3	47.2
Goodwill	123.8	128
Other intangible assets, net	90.6	96
Intercompany receivable	0	0
Intercompany notes receivable	0	0
Investment in subsidiaries	0	0
Other assets	1	0.7
Total Assets	401.9	424.6
Liabilities, Current [Abstract]
Current portion of long-term debt	0.3	0.3
Accounts payable	37.8	43.1
Intercompany notes payable		7.7
Other current liabilities	24.1	28
Total Current Liabilities	62.2	79.1
Liabilities, Noncurrent [Abstract]
Long-term debt	2.3	2.4
Intercompany payable	5.4	5.6
Intercompany notes payable	141.3	146.2
Deferred income taxes	23.2	24.8
Other liabilities	7.7	7.8
Total Liabilities	242.1	265.9
Total Shareholders’ Equity	159.8	158.7
Total Liabilities and Shareholders’ Equity	401.9	424.6
Eliminations
Assets, Current [Abstract]
Cash and cash equivalents	(8.8)	(17.9)	$ (6.2)	$ (3.9)
Restricted cash	0	0
Receivables, net	(17.3)	(14)
Inventories	0	0
Deferred income taxes		0
Intercompany notes receivable		(7.7)
Prepaid expenses and other current assets	0	0
Total Current Assets	(26.1)	(39.6)
Assets, Noncurrent [Abstract]
Property, net	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Intercompany receivable	(1,174.4)	(1,129.8)
Intercompany notes receivable	(141.3)	(146.2)
Investment in subsidiaries	(6,395.8)	(6,333.8)
Other assets	0	0
Total Assets	(7,737.6)	(7,649.4)
Liabilities, Current [Abstract]
Current portion of long-term debt	0	0
Accounts payable	(26.1)	(31.9)
Intercompany notes payable		(7.7)
Other current liabilities	0	0
Total Current Liabilities	(26.1)	(39.6)
Liabilities, Noncurrent [Abstract]
Long-term debt	0	0
Intercompany payable	(1,174.4)	(1,129.8)
Intercompany notes payable	(141.3)	(146.2)
Deferred income taxes	0	0
Other liabilities	0	0
Total Liabilities	(1,341.8)	(1,315.6)
Total Shareholders’ Equity	(6,395.8)	(6,333.8)
Total Liabilities and Shareholders’ Equity	$ (7,737.6)	$ (7,649.4)

Condensed Consolidating Finan56

Condensed Consolidating Financial Statements of Guarantors - Consolidated Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash Flows from Operating Activities:
Net Cash Provided by (Used in) Operating Activities	$ 88.7	$ 57.2
Cash Flows from Investing Activities:
Business acquisitions, net of cash acquired	(94.4)	(184.2)
Additions to property	(18.5)	(23.7)
Restricted cash	4.7	71.2
Proceeds from sale of property	0.3	0
Capitalization of subsidiaries	0	0
Proceeds from equity distributions	0
Net receipts from intercompany revolver	0	0
Net Cash Used by Investing Activities	(107.9)	(136.7)
Cash Flows from Financing Activities:
Repayments of Long-term Debt	(3.6)	(6.7)
Payments of Dividends	(4.3)	(4.3)
Preferred stock conversion	(10.9)	0
Proceeds from parent capitalization	0	0
Payments of equity distributions	0
Net payments for intercompany revolver	0	0
Other, net	(0.6)	(0.6)
Net Cash Used In Financing Activities	(19.4)	(11.6)
Effect of exchange rate changes on cash	(0.4)	(0.6)
Net Decrease in Cash and Cash Equivalents	(39)	(91.7)
Cash and Cash Equivalents, Beginning of Year	841.4	268.4
Cash and Cash Equivalents, End of Period	802.4	176.7
Parent Company
Cash Flows from Operating Activities:
Net Cash Provided by (Used in) Operating Activities	16.5	(18)
Cash Flows from Investing Activities:
Business acquisitions, net of cash acquired	0	0
Additions to property	0	0
Restricted cash	0	0
Proceeds from sale of property	0
Capitalization of subsidiaries	(113.6)	(57.6)
Proceeds from equity distributions	52.3
Net receipts from intercompany revolver	7.7	6.3
Net Cash Used by Investing Activities	(53.6)	(51.3)
Cash Flows from Financing Activities:
Repayments of Long-term Debt	(3.5)	(5.6)
Payments of Dividends	(4.3)	(4.3)
Preferred stock conversion	(10.9)
Proceeds from parent capitalization	0	0
Payments of equity distributions	0
Net payments for intercompany revolver	0	0
Other, net	(0.6)	(0.6)
Net Cash Used In Financing Activities	(19.3)	(10.5)
Effect of exchange rate changes on cash	0	0
Net Decrease in Cash and Cash Equivalents	(56.4)	(79.8)
Cash and Cash Equivalents, Beginning of Year	809.6	246.6
Cash and Cash Equivalents, End of Period	753.2	166.8
Guarantors
Cash Flows from Operating Activities:
Net Cash Provided by (Used in) Operating Activities	139.3	72
Cash Flows from Investing Activities:
Business acquisitions, net of cash acquired	(94.4)	(183)
Additions to property	(17.9)	(22.5)
Restricted cash	4.7	68.5
Proceeds from sale of property	0.3
Capitalization of subsidiaries	0	0
Proceeds from equity distributions	0.1
Net receipts from intercompany revolver	0	0
Net Cash Used by Investing Activities	(107.2)	(137)
Cash Flows from Financing Activities:
Repayments of Long-term Debt	0	(1.1)
Payments of Dividends	0	0
Preferred stock conversion	0
Proceeds from parent capitalization	113.6	54
Payments of equity distributions	(133.7)
Net payments for intercompany revolver	0	0
Other, net	0	0
Net Cash Used In Financing Activities	(20.1)	52.9
Effect of exchange rate changes on cash	0	0
Net Decrease in Cash and Cash Equivalents	12	(12.1)
Cash and Cash Equivalents, Beginning of Year	30.5	15.7
Cash and Cash Equivalents, End of Period	42.5	3.6
Non-Guarantors
Cash Flows from Operating Activities:
Net Cash Provided by (Used in) Operating Activities	5.2	5.5
Cash Flows from Investing Activities:
Business acquisitions, net of cash acquired	0	(1.2)
Additions to property	(0.6)	(1.2)
Restricted cash	0	2.7
Proceeds from sale of property	0
Capitalization of subsidiaries	0	0
Proceeds from equity distributions	0
Net receipts from intercompany revolver	0	0
Net Cash Used by Investing Activities	(0.6)	0.3
Cash Flows from Financing Activities:
Repayments of Long-term Debt	(0.1)	0
Payments of Dividends	0	0
Preferred stock conversion	0
Proceeds from parent capitalization	0	3.6
Payments of equity distributions	(0.1)
Net payments for intercompany revolver	(7.7)	(6.3)
Other, net	0	0
Net Cash Used In Financing Activities	(7.9)	(2.7)
Effect of exchange rate changes on cash	(0.4)	(0.6)
Net Decrease in Cash and Cash Equivalents	(3.7)	2.5
Cash and Cash Equivalents, Beginning of Year	19.2	10
Cash and Cash Equivalents, End of Period	15.5	12.5
Eliminations
Cash Flows from Operating Activities:
Net Cash Provided by (Used in) Operating Activities	(72.3)	(2.3)
Cash Flows from Investing Activities:
Business acquisitions, net of cash acquired	0	0
Additions to property	0	0
Restricted cash	0	0
Proceeds from sale of property	0
Capitalization of subsidiaries	113.6	57.6
Proceeds from equity distributions	(52.4)
Net receipts from intercompany revolver	(7.7)	(6.3)
Net Cash Used by Investing Activities	53.5	51.3
Cash Flows from Financing Activities:
Repayments of Long-term Debt	0	0
Payments of Dividends	0	0
Preferred stock conversion	0
Proceeds from parent capitalization	(113.6)	(57.6)
Payments of equity distributions	133.8
Net payments for intercompany revolver	7.7	6.3
Other, net	0	0
Net Cash Used In Financing Activities	27.9	(51.3)
Effect of exchange rate changes on cash	0	0
Net Decrease in Cash and Cash Equivalents	9.1	(2.3)
Cash and Cash Equivalents, Beginning of Year	(17.9)	(3.9)
Cash and Cash Equivalents, End of Period	$ (8.8)	$ (6.2)