Post (POST) 10-Q9 May 172017 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Mar. 31, 2017	May 03, 2017
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	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		66,267,211

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Net Sales	$ 1,255.4	$ 1,271.1	$ 2,505.2	$ 2,519.9
Cost of goods sold	891.3	861.8	1,761.9	1,748.1
Gross Profit	364.1	409.3	743.3	771.8
Selling, general and administrative expenses	187.3	205.6	451.4	392.6
Amortization of intangible assets	39	38.1	77.9	76.2
Other operating expenses, net	0.3	3.1	0.3	7.6
Operating Profit (Loss)	137.5	162.5	213.7	295.4
Interest expense, net	80.2	77.2	153.1	155
Loss on extinguishment of debt	62.5	0	62.5	0
Other (income) expense	(1)	90.9	(145.5)	106.8
(Loss) Earnings before Income Taxes	(4.2)	(5.6)	143.6	33.6
Income tax (benefit) expense	(0.2)	(10.5)	50	3.2
Net (Loss) Earnings	(4)	4.9	93.6	30.4
Preferred stock dividends	(3.4)	(3.4)	(6.8)	(18.4)
Net (Loss) Earnings Available to Common Shareholders	$ (7.4)	$ 1.5	$ 86.8	$ 12
(Loss) Earnings per Share, Basic (in usd per share)	$ (0.11)	$ 0.02	$ 1.26	$ 0.18
(Loss) Earnings per Share, Diluted (in usd per share)	$ (0.11)	$ 0.02	$ 1.18	$ 0.17
Weighted-Average Common Shares Outstanding, Basic (in shares)	68.2	69.1	68.7	68.3
Weighted-Average Common Shares Outstanding, Diluted (in shares)	68.2	70.5	79.3	69.7

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net (Loss) Earnings	$ (4)	$ 4.9	$ 93.6	$ 30.4
Pension and postretirement benefits adjustments:
Unrealized pension and postretirement benefit obligations	0	1.6	0	1.6
Reclassifications to net (loss) earnings	(0.6)	0	(1.2)	0.5
Unrealized gain on plan amendment	0	36.1	0	36.1
Foreign currency translation adjustments:
Unrealized foreign currency translation adjustments	0.6	19.7	(1.3)	9.9
Reclassifications to net (loss) earnings	0	(1.3)	0	(1.3)
Tax benefit (expense) on other comprehensive (loss) income	0.3	(14.4)	0.5	(14.6)
Total Comprehensive (Loss) Income	$ (3.7)	$ 46.6	$ 91.6	$ 62.6

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Assets
Cash and cash equivalents	$ 1,484.9	$ 1,143.6
Restricted cash	6.2	8.4
Receivables, net	484.3	385
Inventories	513	503.1
Prepaid expenses and other current assets	36.7	36.8
Total Current Assets	2,525.1	2,076.9
Property, net	1,345.8	1,354.4
Goodwill	3,125.9	3,079.7
Other intangible assets, net	2,807.2	2,833.7
Other assets	21.6	15.9
Total Assets	9,825.6	9,360.6
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current portion of long-term debt	4.5	12.3
Accounts payable	210.3	264.4
Other current liabilities	241.6	357.3
Total Current Liabilities	456.4	634
Long-term debt	5,266	4,551.2
Deferred income taxes	814	726.5
Other liabilities	301	440.3
Total Liabilities	6,837.4	6,352
Shareholders' Equity
Preferred stock	0	0
Common stock	0.7	0.7
Additional paid-in capital	3,567.1	3,546
Accumulated deficit	(330.7)	(424.3)
Accumulated other comprehensive loss	(62.4)	(60.4)
Treasury stock, at cost	(186.5)	(53.4)
Total Shareholders’ Equity	2,988.2	3,008.6
Total Liabilities and Shareholders’ Equity	$ 9,825.6	$ 9,360.6

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows from Operating Activities:
Net Earnings	$ 93.6	$ 30.4
Adjustments to reconcile of net earnings to net cash (used in) provided by operating activities:
Depreciation and amortization	155.1	151.2
Unrealized (gain) loss on interest rate swaps	(146.6)	106.8
Loss on extinguishment of debt	62.5	0
Amortization of deferred financing costs, debt issuance costs and debt premium, net	3.3	2.3
Assets held for sale	(0.2)	8.4
Non-cash stock-based compensation expense	11.4	8.4
Deferred income taxes	68.8	(25.1)
Other, net	(2.8)	(2.2)
Other changes in current assets and liabilities, net of business acquisitions:
Increase in receivables, net	(85.5)	(4.8)
Increase in inventories	(8.1)	(21.9)
Increase in prepaid expenses and other current assets	(3.9)	(9.1)
Decrease in accounts payable and other current liabilities	(179.1)	(51.6)
Increase in non-current liabilities	5	3.6
Net Cash (Used in) Provided by Operating Activities	(26.5)	196.4
Cash Flows from Investing Activities:
Business acquisitions, net of cash acquired	(90.2)	(94.4)
Additions to property	(63.9)	(44.8)
Restricted cash	2.2	10.4
Proceeds from sale of property and assets held for sale	10.3	0.6
Proceeds from sale of businesses	0	6.2
Net Cash Used in Investing Activities	(141.6)	(122)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt	1,750	0
Repayments of long-term debt	(1,015.9)	(8.1)
Purchases of treasury stock	(133.1)	0
Payments of preferred stock dividends	(6.8)	(7.7)
Preferred stock conversion	0	(10.9)
Payments of debt issuance costs and deferred financing costs	(27.6)	0
Payments of tender premiums on debt extinguishment	(67.9)	0
Proceeds from exercise of stock awards	9.4	6.2
Cash paid in advance for stock repurchase contracts	0	(28.3)
Other, net	1.7	0.3
Net Cash Provided by (Used in) Financing Activities	509.8	(48.5)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(0.4)	0.9
Net Increase in Cash and Cash Equivalents	341.3	26.8
Cash and Cash Equivalents, Beginning of Year	1,143.6	841.4
Cash and Cash Equivalents, End of Period	$ 1,484.9	$ 868.2

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	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, 2016. 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, 2016, filed with the SEC on November 18, 2016. 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 results of operations, comprehensive (loss) income, financial position 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.

Recently Issued Accounting Stan

Recently Issued Accounting Standards (Notes)	6 Months Ended
Recently Issued Accounting Standards (Notes)	Mar. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Standards	RECENTLY ISSUED ACCOUNTING STANDARDS The Company has considered all new accounting pronouncements, and has concluded there are no new recently issued pronouncements (other than the ones described below) that had or will have an impact on the results of operations, financial condition or cash flows based on current information. Recently Issued In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” ASU 2017-07 requires an entity to report the service cost component of periodic net benefit cost in the same line item or items as other compensation costs arising from services rendered by employees during the period. Other components of net benefit cost are to be presented in the income statement separately from the service cost component. The amendments in the ASU also allow only the service cost component to be eligible for capitalization when applicable. This ASU is effective for annual periods beginning after December 15, 2017, and interim periods therein (i.e., Post’s financial statements for the year ending September 30, 2019) with early adoption permitted. Additionally, the ASU requires a retrospective method of adoption. The adoption of this guidance will impact the presentation and classification of the components of net periodic benefit cost (gain) for the plans presented in Note 15, however, the impact is not expected to be material. In January 2017, the FASB issued ASU 2017-04, “Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” ASU 2017-04 eliminates Step 2 of the goodwill impairment test, which requires the calculation of the implied fair value of goodwill to measure a goodwill impairment charge. Under this ASU, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of the reporting unit with its carrying amount, and should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value with the loss not exceeding the total amount of goodwill allocated to that reporting unit. This ASU is effective for annual periods beginning after December 15, 2019, and interim periods therein (i.e., Post’s financial statements for the year ending September 30, 2021) with early adoption permitted for interim or annual goodwill impairment tests performed after January 1, 2017. Additionally, the ASU requires a prospective method of adoption. The Company is currently evaluating the impact of adopting this guidance. In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business.” ASU 2017-01 adds guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses by providing a more specific definition of a business. This ASU is effective for annual periods beginning after December 15, 2017, and interim periods therein (i.e., Post’s financial statements for the year ending September 30, 2019) with early adoption permitted. This ASU currently has no impact on the Company, however, Post will evaluate the impact of this ASU on future business acquisitions and disposals. In December 2016, the FASB issued ASU 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers.” ASU 2016-20 is intended to clarify and suggest improvements to the application of current standards under Topic 606 and other Topics amended by ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” The effective date of this ASU is the same as the effective date for ASU 2014-09 (i.e., Post’s financial statements for the year ending September 30, 2019). The Company continues to evaluate its existing revenue recognition policies to determine the types of contracts that are within the scope of this guidance and the impact the adoption of this standard may have on the Company’s consolidated financial statements. It has not yet been determined if the full retrospective or the modified retrospective method will be applied. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash.” ASU 2016-18 requires that a statement of cash flows explain the change in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents, and therefore, restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning of year cash balance to the end of year cash balance as shown on the statement of cash flows. This ASU is effective for annual periods beginning after December 15, 2017, and interim periods therein (i.e., Post’s financial statements for the year ending September 30, 2019) with early adoption permitted. The Company currently classifies changes in restricted cash as an investing activity in the Condensed Consolidated Statements of Cash Flows, not as a component of cash and cash equivalents as required by this ASU.

Restructuring

Restructuring	6 Months Ended
Restructuring	Mar. 31, 2017
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, and the facility was sold in December 2016. No additional restructuring costs have been incurred or are expected to be incurred in fiscal 2017. In May 2015, the Company announced its plan to consolidate its cereal business administrative offices into its Lakeville, Minnesota location. In connection with the consolidation, the Company closed its office located in Parsippany, New Jersey and relocated those functions as well as certain functions located in Battle Creek, Michigan to the Lakeville office. The Parsippany office closure was completed in fiscal 2016. No additional restructuring costs have been incurred or are expected to be incurred in fiscal 2017. Restructuring charges and the related liabilities are shown in the following table. Employee-Related Costs Accelerated Depreciation Total Balance at September 30, 2015 $ 10.5 $ — $ 10.5 Charge to expense 1.3 0.4 1.7 Cash payments (6.1 ) — (6.1 ) Non-cash charges (0.6 ) (0.4 ) (1.0 ) Balance at March 31, 2016 $ 5.1 $ — $ 5.1 Balance at September 30, 2016 $ 1.1 $ — $ 1.1 Charge to expense — — — Cash payments (0.9 ) — (0.9 ) Non-cash charges — — — Balance at March 31, 2017 $ 0.2 $ — $ 0.2 Total expected restructuring charge $ 12.6 $ 2.5 $ 15.1 Cumulative restructuring charges incurred to date 12.6 2.5 15.1 Remaining expected restructuring charge $ — $ — $ — In the three and six months ended March 31, 2016, the Company incurred total restructuring charges of $0.5 and $1.7 , respectively, which were reported in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Operations. No restructuring expenses have been incurred in fiscal 2017. These expenses are not included in the measure of segment performance (see Note 17). Assets Held for Sale Related to the closure of its Modesto, California facility in September 2014, the Company had land, building and equipment classified as assets held for sale at September 30, 2016. The carrying value of the assets included in “Prepaid expenses and other current assets” in the Condensed Consolidated Balance Sheets was $4.3 as of September 30, 2016. The land, building and equipment were sold in March 2017. Related to the manufacturing shutdown of its Farmers Branch, Texas facility, the Company had land and buildings classified as assets held for sale as of September 30, 2016. The carrying value of the assets included in “Prepaid expenses and other current assets” on the Condensed Consolidated Balance Sheets was $5.8 as of September 30, 2016. The land and buildings were sold in December 2016. Net gains of $0.2 were recorded in the six months ended March 31, 2017, to adjust the carrying value of the assets to their fair value less estimated selling costs. Held for sale losses of $4.4 and $8.4 were recorded in the three and six months ended March 31, 2016, respectively, to adjust the carrying value of the assets to their fair value less estimated selling costs. These gains and losses are reported as “Other operating expenses, net” on the Condensed Consolidated Statements of Operations. This income and expense is not included in the measure of segment performance (see Note 17).

Business Combinations

Business Combinations	6 Months Ended
Business Combinations	Mar. 31, 2017
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS On October 3, 2016, the Company completed its acquisition of National Pasteurized Eggs, Inc. (“NPE”) for $93.5 , subject to net working capital and other adjustments, resulting in a payment of $97.0 . In February 2017, a final settlement of net working capital was reached, resulting in an amount back to the Company of $1.2 . In addition, the Company acquired an income tax receivable of $1.8 that is due back to the sellers when it is collected. NPE is a producer of pasteurized shell eggs, including cage-free and hard boiled eggs. NPE is reported in Post’s Michael Foods Group segment (see Note 17). Based upon the preliminary purchase price allocation, the Company recorded $43.9 of customer relationships to be amortized over a weighted-average period of 16 years and $7.5 of trademarks and brands to be amortized over a weighted-average period of 20 years. Net sales included in the Condensed Consolidated Statements of Operations were $23.6 and $46.9 for the three and six months ended March 31, 2017, respectively. Operating losses included in the Condensed Consolidated Statement of Operations were $0.6 and $2.7 for the three and six months ended March 31, 2017, respectively. 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 also reported in Post’s Michael Foods Group segment (see Note 17). 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 does not expect the final fair value of goodwill related to the acquisition of NPE to be deductible for U.S. income tax purposes. Certain estimated values for the NPE acquisition, including property, goodwill, other intangible assets and deferred taxes, are not yet finalized pending the final purchase price allocation 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 2017 acquisition of NPE based upon the fair value of assets and liabilities assumed. Measurement period adjustments have been made to the allocation of purchase price for the current year acquisition of NPE since the date of acquisition related to working capital settlements, updated valuations of property and intangibles and deferred taxes. Cash and cash equivalents $ 5.6 Receivables 9.6 Inventories 2.1 Prepaid expenses and other current assets 0.4 Property 10.4 Goodwill 46.3 Other intangible assets 51.4 Current portion of capital lease (0.1 ) Accounts payable (6.3 ) Other current liabilities (2.9 ) Long-term capital lease (0.2 ) Deferred tax liability - long-term (18.7 ) Total acquisition cost $ 97.6 Transaction related costs The Company incurred acquisition and divestiture related expenses of $2.8 and $3.5 during the three and six months ended March 31, 2017, respectively, and $0.2 and $2.2 during the three and six months ended March 31, 2016, respectively. The costs are recorded as “Selling, general and administrative expenses,” and 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 NPE and WEF for the periods presented as if the fiscal 2017 acquisition of NPE had occurred on October 1, 2015 and the fiscal 2016 acquisition of WEF had occurred on October 1, 2014, 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 businesses 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 Six Months Ended 2017 2016 2017 2016 Pro forma net sales $ 1,255.4 $ 1,301.1 $ 2,505.2 $ 2,584.9 Pro forma net (loss) earnings available to common shareholders $ (7.3 ) $ 3.4 $ 86.9 $ 16.8 Pro forma basic (loss) earnings per common share $ (0.11 ) $ 0.05 $ 1.26 $ 0.25 Pro forma diluted (loss) earnings per common share $ (0.11 ) $ 0.05 $ 1.18 $ 0.24

Goodwill (Notes)

Goodwill (Notes)	6 Months Ended
Goodwill (Notes)	Mar. 31, 2017
Goodwill [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, 2016 Goodwill (gross) $ 1,994.0 $ 1,345.8 $ 180.7 $ 256.6 $ 3,777.1 Accumulated impairment losses (609.1 ) — (88.3 ) — (697.4 ) Goodwill (net) $ 1,384.9 $ 1,345.8 $ 92.4 $ 256.6 $ 3,079.7 Goodwill acquired — 46.3 — — 46.3 Currency translation adjustment (0.1 ) — — — (0.1 ) Balance, March 31, 2017 Goodwill (gross) $ 1,993.9 $ 1,392.1 $ 180.7 $ 256.6 $ 3,823.3 Accumulated impairment losses (609.1 ) — (88.3 ) — (697.4 ) Goodwill (net) $ 1,384.8 $ 1,392.1 $ 92.4 $ 256.6 $ 3,125.9

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The effective income tax rate was 4.8% and 34.8% for the three and six months ended March 31, 2017, respectively, and 187.5% and 9.5% for the three and six months ended March 31, 2016, respectively. In accordance with Accounting Standards Codification (“ASC”) Topic 740, the Company records income tax (benefit) expense for the interim periods using the estimated annual effective tax rate for the full fiscal year adjusted for the impact of discrete items occurring during the three and six month periods. In the three months ended March 31, 2017, the effective tax rate differed significantly from the statutory rate as a result of the expectation that the Domestic Production Activities Deduction under the Internal Revenue Code (“DPAD”) would have a favorable impact on the effective income tax rate, and that certain valuation allowances would have an unfavorable impact on the effective income tax rate. In the fiscal 2016 periods, the effective tax rate differed significantly from the statutory rate as a result of discrete items occurring in the second quarter of fiscal 2016 primarily relating to the Company’s decision to exit its Canadian egg business reported in the Michael Foods Group segment and the expectation that the DPAD would have a favorable impact on the effective income tax rate.

Intangible Assets, net

Intangible Assets, net	6 Months Ended
Intangible Assets, net	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, net	INTANGIBLE ASSETS, NET Total intangible assets are as follows: March 31, 2017 September 30, 2016 Carrying Accumulated Amortization Net Carrying Accumulated Amortization Net Subject to amortization: Customer relationships $ 2,056.6 $ (358.0 ) $ 1,698.6 $ 2,012.7 $ (302.0 ) $ 1,710.7 Trademarks/brands 802.6 (141.5 ) 661.1 795.1 (120.6 ) 674.5 Other intangible assets 21.7 (8.7 ) 13.0 21.7 (7.7 ) 14.0 2,880.9 (508.2 ) 2,372.7 2,829.5 (430.3 ) 2,399.2 Not subject to amortization: Trademarks/brands 434.5 — 434.5 434.5 — 434.5 $ 3,315.4 $ (508.2 ) $ 2,807.2 $ 3,264.0 $ (430.3 ) $ 2,833.7

(Loss) Earnings Per Share

(Loss) Earnings Per Share	6 Months Ended
(Loss) Earnings Per Share	Mar. 31, 2017
Earnings Per Share [Abstract]
(Loss) Earnings per Share	(LOSS) EARNINGS PER SHARE Basic (loss) earnings per share is based on the average number of common shares outstanding during the period. Diluted (loss) earnings per share is based on the average number of shares used for the basic (loss) 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 (loss) earnings per share. For diluted (loss) earnings 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 (loss) earnings per share for the three and six months ended March 31, 2017 and 2016, respectively. Three Months Ended Six Months Ended 2017 2016 2017 2016 Net (loss) earnings for basic (loss) earnings per share $ (7.4 ) $ 1.5 $ 86.8 $ 12.0 Dilutive preferred stock dividends — — 6.8 — Net (loss) earnings for diluted (loss) earnings per share $ (7.4 ) $ 1.5 $ 93.6 $ 12.0 Weighted-average shares outstanding 64.4 64.2 64.5 63.4 Effect of TEUs on weighted-average shares for basic (loss) earnings per share 3.8 4.9 4.3 4.9 Weighted-average shares for basic (loss) earnings per share 68.2 69.1 68.7 68.3 Effect of dilutive securities: Stock options — 1.0 1.2 1.0 Stock appreciation rights — 0.1 0.1 0.1 Restricted stock awards — 0.3 0.2 0.3 Preferred shares conversion to common — — 9.1 — Total dilutive securities — 1.4 10.6 1.4 Weighted-average shares for diluted (loss) earnings per share 68.2 70.5 79.3 69.7 Basic (loss) earnings per common share $ (0.11 ) $ 0.02 $ 1.26 $ 0.18 Diluted (loss) earnings per common share $ (0.11 ) $ 0.02 $ 1.18 $ 0.17 The following table details the securities that have been excluded from the calculation of weighted-average shares for diluted (loss) earnings per share as they were anti-dilutive. Three Months Ended Six Months Ended 2017 2016 2017 2016 Stock options 4.2 0.3 0.3 0.3 Stock appreciation rights 0.1 — — — Restricted stock awards 0.7 0.2 — 0.4 Preferred shares conversion to common 9.1 9.1 — 9.1

Inventories

Inventories	6 Months Ended
Inventories	Mar. 31, 2017
Inventory [Abstract]
Inventories	INVENTORIES March 31, September 30, Raw materials and supplies $ 109.1 $ 112.4 Work in process 19.2 17.4 Finished products 353.2 339.3 Flocks 31.5 34.0 $ 513.0 $ 503.1

Property, net

Property, net	6 Months Ended
Property, net	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, net	PROPERTY, NET March 31, September 30, 2016 Property, at cost $ 1,964.4 $ 1,900.3 Accumulated depreciation (618.6 ) (545.9 ) $ 1,345.8 $ 1,354.4

Derivative Financial Instrument

Derivative Financial Instruments and Hedging	6 Months Ended
Derivative Financial Instruments and Hedging	Mar. 31, 2017
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, foreign currency and variable rate debt. At March 31, 2017 , the notional amounts of commodity and energy contracts were $77.2 and $16.6 , respectively. These contracts relate to inputs that generally will be utilized within the next 15 months. At March 31, 2017 and September 30, 2016 , the Company had pledged collateral of $4.6 and $6.1 , respectively, related to its commodity and energy contracts. These amounts are classified as “Restricted cash” on the Condensed Consolidated Balance Sheets. In connection with an acquisition announced in April 2017 (see Note 19), the Company held a foreign exchange contract at March 31, 2017 that called for the purchase of £14.0 and the sale of $17.4 . The contract matured in April 2017. As of March 31, 2017 , the Company had interest rate swaps with a notional amount of $76.8 that obligate Post to pay a fixed rate of 3.1% and receive one-month LIBOR, and require monthly settlements. These settlements began in July 2016 and end 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 interest 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 interest 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. Foreign currency exchange contracts are valued using the spot rate less the forward 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 table presents the balance sheet location and fair value of the Company’s derivative instruments on a gross and net basis as of March 31, 2017 and September 30, 2016 . The Company does not offset derivative assets and liabilities within the Condensed Consolidated Balance Sheets. Balance Sheet Location March 31, September 30, 2016 Commodity contracts Prepaid expenses and other current assets $ 3.4 $ 0.6 Energy contracts Prepaid expenses and other current assets 3.0 2.4 Total Assets $ 6.4 $ 3.0 Commodity contracts Other current liabilities $ 1.3 $ 3.3 Energy contracts Other current liabilities 0.2 0.2 Foreign currency exchange contracts Other current liabilities 0.1 — Interest rate swaps Other current liabilities 1.9 2.0 Interest rate swaps Other liabilities 166.7 313.2 Total Liabilities $ 170.2 $ 318.7 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 Statement of Operations Statement of Operations Location Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Commodity contracts Cost of goods sold $ (1.1 ) $ (0.2 ) $ 3.4 $ 4.2 Energy contracts Cost of goods sold 3.5 0.8 0.3 4.9 Foreign currency exchange contracts Selling, general and administrative expenses 0.1 — 0.1 — Interest rate swaps Other (income) expense (1.0 ) 90.9 (145.5 ) 106.8

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The following table represents the Company’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. March 31, 2017 September 30, 2016 Total Level 1 Level 2 Total Level 1 Level 2 Assets: Deferred compensation investment $ 13.4 $ 13.4 $ — $ 11.5 $ 11.5 $ — Derivative assets 6.4 — 6.4 3.0 — 3.0 $ 19.8 $ 13.4 $ 6.4 $ 14.5 $ 11.5 $ 3.0 Liabilities: Deferred compensation liabilities $ 20.2 $ — $ 20.2 $ 17.3 $ — $ 17.3 Derivative liabilities 170.2 — 170.2 318.7 — 318.7 $ 190.4 $ — $ 190.4 $ 336.0 $ — $ 336.0 The following table presents the fair value of the Company’s long-term debt which is classified as Level 2 in the fair value hierarchy per ASC Topic 820: March 31, September 30, 2016 Senior notes $ 5,411.2 $ 4,835.9 TEUs 5.6 15.0 4.57% 2012 Series Bond maturing September 2017 0.7 1.3 Capital leases 0.3 — $ 5,417.8 $ 4,852.2 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 options and futures contracts for commodities and energy. 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 “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Operations. 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 had land, buildings and equipment classified as assets held for sale related to the closure of its Modesto, California facility as of September 30, 2016. At September 30, 2016 , the carrying value, as determined by estimated fair value less estimated costs to sell, of the assets held for sale was $4.3 and was included in “Prepaid expenses and other current assets” on the Condensed Consolidated Balance Sheets. Related to its Farmers Branch, Texas facility, the Company had land and buildings classified as assets held for sale as of September 30, 2016. The carrying value of the assets included in “Prepaid expenses and other current assets” on the Condensed Consolidated Balance Sheets was $5.8 as of September 30, 2016. The fair value of the assets held for sale were measured at fair value on a nonrecurring basis based on third-party offers to purchase the assets. The fair value measurement was categorized as Level 3, as the fair values utilize significant unobservable inputs. The following table summarizes the Level 3 activity. Balance, September 30, 2016 $ 10.1 Gain on assets held for sale 0.2 Cash received from sale of assets (10.3 ) Balance, March 31, 2017 $ — 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.

Legal Proceedings (Notes)

Legal Proceedings (Notes)	6 Months Ended
Legal Proceedings (Notes)	Mar. 31, 2017
Legal Proceedings [Abstract]
Legal Proceedings	LEGAL PROCEEDINGS In late 2008 and early 2009, some 22 class action lawsuits were filed in various federal courts against Michael Foods, Inc. and some 20 other defendants (producers of shell eggs and egg products, and egg industry organizations), alleging violations of federal and state antitrust laws in connection with the production and sale of shell eggs and egg products, and seeking unspecified damages. All cases were transferred to the Eastern District of Pennsylvania for coordinated and/or consolidated pretrial proceedings. The case involves three plaintiff groups: (1) direct purchasers of eggs and egg products; (2) companies (primarily large grocery chains and food companies that purchase considerable quantities of eggs) that opted out of any eventual class and brought their own separate actions against the defendants (“opt-out plaintiffs”); and (3) indirect purchasers of shell eggs. Motions related to class certification: In September of 2015, the court granted the motion of the direct purchaser plaintiffs to certify a shell-egg subclass, but denied their motion to certify an egg-products subclass. Also in September of 2015, the court denied the motion of the indirect purchaser plaintiffs for class certification. The indirect purchaser plaintiffs have filed an alternative motion for certification of an injunctive class, and the denial of their original class-certification motion is subject to appeal. Motions for summary judgment: In September of 2016, the court granted the defendants’ motion to dismiss claims based on purchases of egg products, thereby limiting all claims to shell eggs. Certain of the egg products purchasers whose claims were dismissed have appealed to the Third Circuit Court of Appeals. Also in September of 2016, the court denied individual motions for summary judgment made by Michael Foods and three other defendants that had sought the dismissal of all claims against them. All four defendants moved to have denial of their summary judgment motions certified for immediate appeal to the Third Circuit Court of Appeals; there has been no ruling on those motions. Settlements by Michael Foods: On December 8, 2016, Michael Foods reached an agreement to settle all class claims asserted against it by the direct purchaser plaintiffs for a payment of $75.0 . The Company has paid such amount into escrow. This settlement is subject to approval by the court following notice to all class members. While the Company expects the settlement will receive the needed approval, there can be no assurance that the court will approve the agreement as proposed by the parties. On January 19, 2017, Michael Foods entered into a settlement, the details of which are confidential, with the opt-out plaintiffs (excluding those opt-out plaintiffs whose claims relate primarily or exclusively to egg products; several of those plaintiffs are now appealing the dismissal of the egg products claims). This settlement was paid by the Company as of March 31, 2017. Michael Foods has at all times denied liability in this matter, and neither settlement contains any admission of liability by Michael Foods. During the six months ended March 31, 2017, the Company expensed $74.5 , included in “Selling, general and administrative expenses” on the Condensed Consolidated Statements of Operations, related to these settlements. No expense was recorded related to these settlements in the three and six months ended March 31, 2016. At September 30, 2016, the Company had accruals related to these settlements of $28.5 that were included in “Other current liabilities” on the Condensed Consolidated Balance Sheets. Under current law, any settlement paid, including the settlement with the direct purchaser plaintiffs and the settlement with the opt-out plaintiffs, is deductible for federal income tax purposes. These settlements do not affect (a) the claims of the opt-out plaintiffs who are appealing the dismissal of egg-products claims from the case or (b) the claims of the indirect purchaser plaintiffs. While the likelihood of a material adverse outcome in the egg antitrust litigation has been significantly reduced as a result of the settlements described above, there is still a possibility of an adverse outcome in the remaining portions of the case. At this time, however, we do not believe it is possible to estimate any loss in connection with these remaining portions of the egg antitrust litigation. Accordingly, we cannot predict what impact, if any, these remaining matters and any results from such matters could have on our future results of operations.

Long-Term Debt

Long-Term Debt	6 Months Ended
Long-Term Debt	Mar. 31, 2017
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT Long-term debt as of the dates indicated consists of the following: March 31, September 30, 2016 5.50% Senior Notes maturing March 2025 $ 1,000.0 $ — 5.75% Senior Notes maturing March 2027 750.0 — 5.00% Senior Notes maturing August 2026 1,750.0 1,750.0 7.75% Senior Notes maturing March 2024 800.0 800.0 8.00% Senior Notes maturing July 2025 400.0 400.0 6.00% Senior Notes maturing December 2022 630.0 630.0 6.75% Senior Notes maturing December 2021 — 875.0 7.375% Senior Notes maturing February 2022 — 133.0 TEUs 3.7 11.0 4.57% 2012 Series Bond maturing September 2017 0.7 1.3 Capital leases 0.3 — $ 5,334.7 $ 4,600.3 Less: Current Portion (4.5 ) (12.3 ) Debt issuance costs, net (64.2 ) (53.5 ) Plus: Unamortized premium — 16.7 Total long-term debt $ 5,266.0 $ 4,551.2 On February 14, 2017, the Company issued $1,000.0 principal value of 5.50% senior notes due in March 2025 and $750.0 principal value of 5.75% senior notes due in March 2027. The 5.50% and 5.75% senior notes were issued at par and the Company received $1,725.4 after paying investment banking and other fees of $24.6 , which will be deferred and amortized to interest expense over the term of the notes. Interest payments on the 5.50% and 5.75% senior notes are due semi-annually each March 1 and September 1. With the proceeds received from the February 14, 2017 issuance of the 5.50% and 5.75% senior notes (described above), the Company repaid the remaining $133.0 principal value of the 7.375% senior notes as well as the $875.0 principal value of the 6.75% senior notes. In connection with the early repayment of these notes, the Company recorded expense of $62.5 in the three and six months ended March 31, 2017, which is reported as “Loss on extinguishment of debt” in the Condensed Consolidated Statement of Operations. This loss included a tender premium of $67.9 and deferred financing fee write-offs of $10.1 , partially offset by the write-off of unamortized debt premium of $15.5 . On March 28, 2017, the Company amended and restated its existing credit agreement entered into on January 29, 2014 (as amended and restated, the “Credit Agreement”). The Credit Agreement provides for a revolving credit facility in an aggregate principal amount of $800.0 (the “Revolving Credit Facility”), with the commitments thereunder to be made available to the Company in US Dollars, Canadian Dollars, Euros and Pounds Sterling. Letters of credit will be available under the Credit Agreement in an aggregate amount of up to $50.0 . The Credit Agreement also provides for potential incremental revolving and term facilities at the request of the Company and at the discretion of the lenders, in each case on terms to be determined, and also permits the Company, subject to certain conditions, to incur incremental equivalent debt, in an aggregate maximum amount (for incremental revolving and term facilities and incremental equivalent debt combined) not to exceed the greater of (1) $700.0 and (2) the maximum amount at which (A) the Company’s pro forma consolidated leverage ratio (as defined in the Credit Agreement) would not exceed 6.50 to 1.00 and (B) the Company’s pro forma senior secured leverage ratio (as defined in the Credit Agreement) would not exceed 3.00 to 1.00 as of the date such indebtedness is incurred. The outstanding amounts under the Revolving Credit Facility must be repaid on or before March 28, 2022. The Company incurred $4.3 of issuance costs in connection with the Credit Agreement. The revolving credit facility has outstanding letters of credit of $10.0 which reduced the available borrowing capacity to $790.0 at March 31, 2017 . The Credit Agreement also permits the Company to incur additional unsecured debt if, among other conditions, its consolidated interest coverage ratio (as defined in the Credit Agreement) would be greater than or equal to 2.00 to 1.00 after giving effect to such new debt. Borrowings under the Revolving Credit Facility will bear interest, at the option of the Company, at an annual rate equal to either the Base Rate, Eurodollar Rate or CDOR Rate (as such terms are defined in the Credit Agreement) plus an applicable margin ranging from 1.75% to 2.25% for Eurodollar Rate-based loans and CDOR Rate-based loans and from 0.75% to 1.25% for Base Rate-based loans, depending in each case on the Company’s senior secured leverage ratio. Commitment fees on the daily unused amount of commitments under the Revolving Credit Facility will accrue at rates ranging from 0.250% to 0.375% , also depending on the Company’s senior secured leverage ratio. The Credit Agreement contains a financial covenant requiring the Company to maintain a senior secured leverage ratio (as defined in the Credit Agreement) not to exceed 4.25 to 1.00, measured as of the last day of any fiscal quarter if, as of the last day of such fiscal quarter, the aggregate outstanding amount of all revolving credit loans, swing line loans and letter of credit obligations (subject to certain exceptions specified in the Credit Agreement) exceeds 30% of the Company’s revolving credit commitments. 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 , attachments issued against all or any 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 accelerate 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 a financial covenant consisting of a ratio for quarterly maximum senior secured leverage if all outstanding amounts under the Revolving Credit Facility exceed 30% of the Company’s revolving credit commitments. As of March 31, 2017 , the Company was in compliance with such financial covenant. The Company does not believe non-compliance is reasonably likely in the foreseeable future.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	6 Months Ended
Pension and Other Postretirement Benefits	Mar. 31, 2017
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 certain employees primarily within its Post Consumer Brands segment. 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. Effective January 1, 2011, benefit accruals for defined pension plans were frozen for all administrative employees and certain production employees. The following tables provide the components of net periodic benefit cost (gain) for the plans. Pension Benefits Three Months Ended Six Months Ended 2017 2016 2017 2016 Components of net periodic benefit cost Service cost $ 1.0 $ 1.0 $ 2.0 $ 2.0 Interest cost 0.5 0.6 1.1 1.2 Expected return on plan assets (0.8 ) (0.6 ) (1.5 ) (1.3 ) Recognized net actuarial loss 0.4 0.2 0.8 0.5 Recognized prior service cost 0.1 0.1 0.1 0.2 Net periodic benefit cost $ 1.2 $ 1.3 $ 2.5 $ 2.6 Other Benefits Three Months Ended Six Months Ended 2017 2016 2017 2016 Components of net periodic benefit cost Service cost $ 0.2 $ 0.4 $ 0.3 $ 0.8 Interest cost 0.5 1.1 1.0 2.4 Recognized net actuarial loss 0.1 0.3 0.3 0.7 Recognized prior service credit (1.2 ) (0.6 ) (2.4 ) (0.9 ) Net periodic benefit (gain) cost $ (0.4 ) $ 1.2 $ (0.8 ) $ 3.0

Shareholders' Equity

Shareholders' Equity	6 Months Ended
Shareholders' Equity	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Shareholders' Equity	SHAREHOLDERS’ EQUITY During the first quarter of fiscal 2017, the Company repurchased 1.7 shares of its common stock at an average share price of $76.32 for a total cost of $133.1 , which was recorded as “Treasury stock, at cost” on the Condensed Consolidated Balance Sheets. During the six months ended March 31, 2017, TEU holders settled 0.9 million purchase contracts for which the Company issued 1.5 million shares of common stock. No purchase contracts were settled and no shares of common stock were issued relating to the TEUs during the first half of fiscal 2016.

Segments

Segments	6 Months Ended
Segments	Mar. 31, 2017
Segment Reporting [Abstract]
Segments	SEGMENTS The Company’s reportable segments are as follows: • Post Consumer Brands: primarily ready-to-eat (“RTE”) cereals; • Michael Foods Group: eggs, potatoes, cheese and pasta; • 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 business 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 Six Months Ended 2017 2016 2017 2016 Net Sales Post Consumer Brands $ 431.1 $ 440.1 $ 851.7 $ 851.7 Michael Foods Group 515.0 557.7 1,054.8 1,144.1 Active Nutrition 177.3 143.8 331.2 259.6 Private Brands 132.1 129.7 267.7 265.3 Eliminations (0.1 ) (0.2 ) (0.2 ) (0.8 ) Total $ 1,255.4 $ 1,271.1 $ 2,505.2 $ 2,519.9 Segment Profit Post Consumer Brands $ 90.1 $ 74.7 $ 171.7 $ 137.6 Michael Foods Group 42.7 89.6 25.7 170.4 Active Nutrition 21.2 13.8 46.1 24.3 Private Brands 9.5 7.7 16.5 20.6 Total segment profit 163.5 185.8 260.0 352.9 General corporate expenses and other 26.0 23.3 46.3 57.5 Interest expense, net 80.2 77.2 153.1 155.0 Loss on extinguishment of debt 62.5 — 62.5 — Other (income) expense (1.0 ) 90.9 (145.5 ) 106.8 (Loss) Earnings before income taxes $ (4.2 ) $ (5.6 ) $ 143.6 $ 33.6 Depreciation and amortization Post Consumer Brands $ 27.3 $ 26.2 $ 54.1 $ 52.5 Michael Foods Group 36.8 36.1 73.5 70.5 Active Nutrition 6.3 6.2 12.5 12.4 Private Brands 6.7 6.2 13.2 12.4 Total segment depreciation and amortization 77.1 74.7 153.3 147.8 Corporate and accelerated depreciation 0.9 1.7 1.8 3.4 Total $ 78.0 $ 76.4 $ 155.1 $ 151.2 Assets March 31, 2017 September 30, 2016 Post Consumer Brands $ 3,342.9 $ 3,387.0 Michael Foods Group 3,586.6 3,498.1 Active Nutrition 627.5 624.8 Private Brands 659.1 655.9 Corporate 1,609.5 1,194.8 Total $ 9,825.6 $ 9,360.6

Condensed Consolidating Financi

Condensed Consolidating Financial Statements of Guarantors	6 Months Ended
Condensed Consolidating Financial Statements of Guarantors	Mar. 31, 2017
Schedule Of Condensed Financial Statements [Abstract]
Condensed Consolidating Financial Statements of Guarantors	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 Sheets. POST HOLDINGS, INC. CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended March 31, 2017 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 1,139.3 $ 137.4 $ (21.3 ) $ 1,255.4 Cost of goods sold — 798.6 114.0 (21.3 ) 891.3 Gross Profit — 340.7 23.4 — 364.1 Selling, general and administrative expenses 4.0 170.1 13.2 — 187.3 Amortization of intangible assets — 36.7 2.3 — 39.0 Other operating expenses, net — 0.3 — — 0.3 Operating (Loss) Profit (4.0 ) 133.6 7.9 — 137.5 Interest expense, net 77.7 — 2.5 — 80.2 Loss on extinguishment of debt 62.5 — — — 62.5 Other income (1.0 ) — — — (1.0 ) (Loss) Earnings before Income Taxes (143.2 ) 133.6 5.4 — (4.2 ) Income tax (benefit) expense (49.3 ) 47.1 2.0 — (0.2 ) Net (Loss) Earnings before Equity in Subsidiaries (93.9 ) 86.5 3.4 — (4.0 ) Equity earnings in subsidiaries 89.9 0.6 — (90.5 ) — Net (Loss) Earnings $ (4.0 ) $ 87.1 $ 3.4 $ (90.5 ) $ (4.0 ) Total Comprehensive (Loss) Income $ (3.7 ) $ 86.7 $ 2.7 $ (89.4 ) $ (3.7 ) Three Months Ended March 31, 2016 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 1,156.0 $ 130.4 $ (15.3 ) $ 1,271.1 Cost of goods sold — 765.0 112.1 (15.3 ) 861.8 Gross Profit — 391.0 18.3 — 409.3 Selling, general and administrative expenses 4.9 189.9 10.8 — 205.6 Amortization of intangible assets — 35.9 2.2 — 38.1 Other operating expenses (income), net — 12.8 (9.7 ) — 3.1 Operating (Loss) Profit (4.9 ) 152.4 15.0 — 162.5 Interest expense (income), net 74.8 (0.3 ) 2.7 — 77.2 Other expense 90.9 — — — 90.9 (Loss) Earnings before Income Taxes (170.6 ) 152.7 12.3 — (5.6 ) Income tax expense (benefit) 8.0 (19.7 ) 1.2 — (10.5 ) Net (Loss) Earnings before Equity in Subsidiaries (178.6 ) 172.4 11.1 — 4.9 Equity earnings in subsidiaries 183.5 8.7 — (192.2 ) — Net Earnings $ 4.9 $ 181.1 $ 11.1 $ (192.2 ) $ 4.9 Total Comprehensive Income $ 46.6 $ 203.1 $ 21.0 $ (224.1 ) $ 46.6 Six Months Ended March 31, 2017 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 2,273.7 $ 266.2 $ (34.7 ) $ 2,505.2 Cost of goods sold — 1,572.3 224.3 (34.7 ) 1,761.9 Gross Profit — 701.4 41.9 — 743.3 Selling, general and administrative expenses 7.9 420.9 22.6 — 451.4 Amortization of intangible assets — 73.3 4.6 — 77.9 Other operating expenses, net — 0.3 — — 0.3 Operating (Loss) Profit (7.9 ) 206.9 14.7 — 213.7 Interest expense, net 148.1 — 5.0 — 153.1 Loss on extinguishment of debt 62.5 — — — 62.5 Other income (145.5 ) — — — (145.5 ) (Loss) Earnings before Income Taxes (73.0 ) 206.9 9.7 — 143.6 Income tax (benefit) expense (25.4 ) 72.3 3.1 — 50.0 Net (Loss) Earnings before Equity in Subsidiaries (47.6 ) 134.6 6.6 — 93.6 Equity earnings in subsidiaries 141.2 0.4 — (141.6 ) — Net Earnings $ 93.6 $ 135.0 $ 6.6 $ (141.6 ) $ 93.6 Total Comprehensive Income $ 91.6 $ 134.2 $ 7.4 $ (141.6 ) $ 91.6 Six Months Ended March 31, 2016 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 2,278.2 $ 272.7 $ (31.0 ) $ 2,519.9 Cost of goods sold — 1,547.4 231.7 (31.0 ) 1,748.1 Gross Profit — 730.8 41.0 — 771.8 Selling, general and administrative expenses 9.5 363.7 19.4 — 392.6 Amortization of intangible assets — 71.7 4.5 — 76.2 Other operating expenses (income), net — 17.3 (9.7 ) — 7.6 Operating (Loss) Profit (9.5 ) 278.1 26.8 — 295.4 Interest expense (income), net 150.0 (0.5 ) 5.5 — 155.0 Other expense 106.8 — — — 106.8 (Loss) Earnings before Income Taxes (266.3 ) 278.6 21.3 — 33.6 Income tax (benefit) expense (25.4 ) 24.8 3.8 — 3.2 Net (Loss) Earnings before Equity in Subsidiaries (240.9 ) 253.8 17.5 — 30.4 Equity earnings in subsidiaries 271.3 8.2 — (279.5 ) — Net Earnings $ 30.4 $ 262.0 $ 17.5 $ (279.5 ) $ 30.4 Total Comprehensive Income $ 62.6 $ 284.3 $ 22.4 $ (306.7 ) $ 62.6 POST HOLDINGS, INC. CONDENSED CONSOLIDATING BALANCE SHEETS (Unaudited) March 31, 2017 Parent Non- Company Guarantors Guarantors Eliminations Total ASSETS Current Assets Cash and cash equivalents $ 1,466.6 $ 7.4 $ 24.8 $ (13.9 ) $ 1,484.9 Restricted cash 1.0 4.5 0.7 — 6.2 Receivables, net 78.4 363.1 50.1 (7.3 ) 484.3 Inventories — 435.2 77.8 — 513.0 Prepaid expenses and other current assets 6.3 29.1 1.3 — 36.7 Total Current Assets 1,552.3 839.3 154.7 (21.2 ) 2,525.1 Property, net — 1,308.6 37.2 — 1,345.8 Goodwill — 2,995.3 130.6 — 3,125.9 Other intangible assets, net — 2,723.1 84.1 — 2,807.2 Intercompany receivable 1,604.1 — — (1,604.1 ) — Intercompany notes receivable 147.0 — — (147.0 ) — Investment in subsidiaries 5,979.5 20.6 — (6,000.1 ) — Other assets 13.6 8.0 — — 21.6 Total Assets $ 9,296.5 $ 7,894.9 $ 406.6 $ (7,772.4 ) $ 9,825.6 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities Current portion of long-term debt $ 3.8 $ 0.7 $ — $ — $ 4.5 Accounts payable 0.1 199.5 31.9 (21.2 ) 210.3 Other current liabilities 54.0 171.0 16.6 — 241.6 Total Current Liabilities 57.9 371.2 48.5 (21.2 ) 456.4 Long-term debt 5,265.8 0.2 — — 5,266.0 Intercompany payable — 1,591.2 12.9 (1,604.1 ) — Intercompany notes payable — — 147.0 (147.0 ) — Deferred income taxes 792.7 — 21.3 — 814.0 Other liabilities 191.9 99.7 9.4 — 301.0 Total Liabilities 6,308.3 2,062.3 239.1 (1,772.3 ) 6,837.4 Total Shareholders’ Equity 2,988.2 5,832.6 167.5 (6,000.1 ) 2,988.2 Total Liabilities and Shareholders’ Equity $ 9,296.5 $ 7,894.9 $ 406.6 $ (7,772.4 ) $ 9,825.6 September 30, 2016 Parent Non- Company Guarantors Guarantors Eliminations Total ASSETS Current Assets Cash and cash equivalents $ 1,116.2 $ 14.1 $ 28.6 $ (15.3 ) $ 1,143.6 Restricted cash 1.0 6.7 0.7 — 8.4 Receivables, net 31.2 316.9 50.6 (13.7 ) 385.0 Inventories — 435.3 67.8 — 503.1 Prepaid expenses and other current assets 3.5 31.5 1.8 — 36.8 Total Current Assets 1,151.9 804.5 149.5 (29.0 ) 2,076.9 Property, net — 1,314.9 39.5 — 1,354.4 Goodwill — 2,949.0 130.7 — 3,079.7 Other intangible assets, net — 2,745.0 88.7 — 2,833.7 Intercompany receivable 1,519.5 — — (1,519.5 ) — Intercompany notes receivable 149.1 — — (149.1 ) — Investment in subsidiaries 5,843.6 25.6 — (5,869.2 ) — Other assets 9.3 6.6 — — 15.9 Total Assets $ 8,673.4 $ 7,845.6 $ 408.4 $ (7,566.8 ) $ 9,360.6 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities Current portion of long-term debt $ 11.0 $ 1.3 $ — $ — $ 12.3 Accounts payable 0.1 252.9 40.4 (29.0 ) 264.4 Other current liabilities 61.4 278.8 17.1 — 357.3 Total Current Liabilities 72.5 533.0 57.5 (29.0 ) 634.0 Long-term debt 4,551.2 — — — 4,551.2 Intercompany payable — 1,509.9 9.6 (1,519.5 ) — Intercompany notes payable — — 149.1 (149.1 ) — Deferred income taxes 703.8 — 22.7 — 726.5 Other liabilities 337.3 93.5 9.5 — 440.3 Total Liabilities 5,664.8 2,136.4 248.4 (1,697.6 ) 6,352.0 Total Shareholders’ Equity 3,008.6 5,709.2 160.0 (5,869.2 ) 3,008.6 Total Liabilities and Shareholders’ Equity $ 8,673.4 $ 7,845.6 $ 408.4 $ (7,566.8 ) $ 9,360.6 POST HOLDINGS, INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (Unaudited) Six Months Ended March 31, 2017 Parent Non- Company Guarantors Guarantors Eliminations Total Net Cash (Used In) Provided by Operating Activities $ (62.4 ) $ 138.7 $ (1.2 ) $ (101.6 ) $ (26.5 ) Cash Flows from Investing Activities Business acquisitions, net of cash acquired — (90.2 ) — — (90.2 ) Additions to property — (61.7 ) (2.2 ) — (63.9 ) Restricted cash — 2.2 — — 2.2 Proceeds from sale of property and assets held for sale — 10.3 — — 10.3 Capitalization of subsidiaries (107.8 ) — — 107.8 — Proceeds from equity distributions 10.2 — — (10.2 ) — Net Cash Used in Investing Activities (97.6 ) (139.4 ) (2.2 ) 97.6 (141.6 ) Cash Flows from Financing Activities Proceeds from issuance of long-term debt 1,750.0 — — — 1,750.0 Repayments of long-term debt (1,015.3 ) (0.6 ) — — (1,015.9 ) Payment of preferred stock dividend (6.8 ) — — — (6.8 ) Purchases of treasury stock (133.1 ) — — — (133.1 ) Payments of debt issuance costs and deferred financing costs (27.6 ) — — — (27.6 ) Payments of tender premiums on debt extinguishment (67.9 ) — — — (67.9 ) Proceeds from exercise of stock awards 9.4 — — — 9.4 Proceeds from Parent capitalization — 97.6 10.2 (107.8 ) — Payments for equity distributions — (103.0 ) (10.2 ) 113.2 — Other, net 1.7 — — — 1.7 Net Cash Provided by (Used in) Financing Activities 510.4 (6.0 ) — 5.4 509.8 Effect of exchange rate changes on cash and cash equivalents — — (0.4 ) — (0.4 ) Net Increase (Decrease) in Cash and Cash Equivalents 350.4 (6.7 ) (3.8 ) 1.4 341.3 Cash and Cash Equivalents, Beginning of Year 1,116.2 14.1 28.6 (15.3 ) 1,143.6 Cash and Cash Equivalents, End of Period $ 1,466.6 $ 7.4 $ 24.8 $ (13.9 ) $ 1,484.9 Six Months Ended March 31, 2016 Parent Non- Company Guarantors Guarantors Eliminations Total Net Cash Provided by Operating Activities $ 80.9 $ 356.0 $ 10.2 $ (250.7 ) $ 196.4 Cash Flows from Investing Activities Business acquisitions, net of cash acquired — (94.4 ) — — (94.4 ) Additions to property — (43.2 ) (1.6 ) — (44.8 ) Restricted cash — 10.4 — — 10.4 Proceeds from sale of property — 0.6 — — 0.6 Proceeds from sale of businesses (0.2 ) — 6.4 — 6.2 Capitalization of subsidiaries (123.2 ) — — 123.2 — Proceeds from equity distributions 89.8 0.2 — (90.0 ) — Net receipts for intercompany revolver 7.7 — — (7.7 ) — Net Cash (Used in) Provided by Investing Activities (25.9 ) (126.4 ) 4.8 25.5 (122.0 ) Cash Flows from Financing Activities Repayments of long term-debt (7.0 ) (1.0 ) (0.1 ) — (8.1 ) Payments of preferred stock dividends (7.7 ) — — — (7.7 ) Preferred stock conversion (10.9 ) — — — (10.9 ) Proceeds from exercise of stock awards 6.2 — — — 6.2 Net cash paid in advance for stock repurchase contracts (28.3 ) — — — (28.3 ) Proceeds from Parent capitalization — 113.6 — (113.6 ) — Payments for equity distributions — (342.2 ) (0.2 ) 342.4 — Net payments from intercompany revolver — — (7.7 ) 7.7 — Other, net 0.3 — — — 0.3 Net Cash Used in Financing Activities (47.4 ) (229.6 ) (8.0 ) 236.5 (48.5 ) Effect of Exchange Rate Changes on Cash and Cash Equivalents — — 0.9 — 0.9 Net Increase in Cash and Cash Equivalents 7.6 — 7.9 11.3 26.8 Cash and Cash Equivalents, Beginning of Year 809.6 30.5 19.2 (17.9 ) 841.4 Cash and Cash Equivalents, End of Period $ 817.2 $ 30.5 $ 27.1 $ (6.6 ) $ 868.2

Subsequent Events (Notes)

Subsequent Events (Notes)	6 Months Ended
Subsequent Events (Notes)	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On April 18, 2017, the Company announced its agreement to acquire the Weetabix brand and all of the issued share capital of Latimer Newco 2 Limited (“Weetabix”) for approximately £1,400.0 , on a cash-free, debt-free basis, subject to certain adjustments as described in the purchase agreement. Weetabix is a United Kingdom based packaged food company that primarily produces RTE cereal products spanning branded and private label. The acquisition is expected to close in the third quarter of calendar 2017, or Post’s fourth fiscal quarter. On May 8, 2017, the Company announced it has commenced cash tender offers (the “Tender Offers”) to purchase any and all of its 7.75% senior notes, having an aggregate outstanding principal amount of $800.0 and any and all of its 8.00% senior notes, having an aggregate outstanding principal amount of $400.0 . The Company also announced that it intends to borrow approximately $2,000.0 under a new incremental term loan facility under its existing credit facility, which, in part, along with cash on hand, will be used to fund the Tender Offers as well as the Company’s acquisition of Weetabix.

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
Restructuring (Tables)	Mar. 31, 2017
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	Employee-Related Costs Accelerated Depreciation Total Balance at September 30, 2015 $ 10.5 $ — $ 10.5 Charge to expense 1.3 0.4 1.7 Cash payments (6.1 ) — (6.1 ) Non-cash charges (0.6 ) (0.4 ) (1.0 ) Balance at March 31, 2016 $ 5.1 $ — $ 5.1 Balance at September 30, 2016 $ 1.1 $ — $ 1.1 Charge to expense — — — Cash payments (0.9 ) — (0.9 ) Non-cash charges — — — Balance at March 31, 2017 $ 0.2 $ — $ 0.2 Total expected restructuring charge $ 12.6 $ 2.5 $ 15.1 Cumulative restructuring charges incurred to date 12.6 2.5 15.1 Remaining expected restructuring charge $ — $ — $ —

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
Business Combinations (Tables)	Mar. 31, 2017
Business Combinations [Abstract]
National Pasteurized Eggs Opening Balance Sheet	Cash and cash equivalents $ 5.6 Receivables 9.6 Inventories 2.1 Prepaid expenses and other current assets 0.4 Property 10.4 Goodwill 46.3 Other intangible assets 51.4 Current portion of capital lease (0.1 ) Accounts payable (6.3 ) Other current liabilities (2.9 ) Long-term capital lease (0.2 ) Deferred tax liability - long-term (18.7 ) Total acquisition cost $ 97.6
Pro Forma Information	Three Months Ended Six Months Ended 2017 2016 2017 2016 Pro forma net sales $ 1,255.4 $ 1,301.1 $ 2,505.2 $ 2,584.9 Pro forma net (loss) earnings available to common shareholders $ (7.3 ) $ 3.4 $ 86.9 $ 16.8 Pro forma basic (loss) earnings per common share $ (0.11 ) $ 0.05 $ 1.26 $ 0.25 Pro forma diluted (loss) earnings per common share $ (0.11 ) $ 0.05 $ 1.18 $ 0.24

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
Goodwill (Tables)	Mar. 31, 2017
Goodwill
Carrying Amount of Goodwill	Post Consumer Brands Michael Foods Group Active Nutrition Private Brands Total Balance, September 30, 2016 Goodwill (gross) $ 1,994.0 $ 1,345.8 $ 180.7 $ 256.6 $ 3,777.1 Accumulated impairment losses (609.1 ) — (88.3 ) — (697.4 ) Goodwill (net) $ 1,384.9 $ 1,345.8 $ 92.4 $ 256.6 $ 3,079.7 Goodwill acquired — 46.3 — — 46.3 Currency translation adjustment (0.1 ) — — — (0.1 ) Balance, March 31, 2017 Goodwill (gross) $ 1,993.9 $ 1,392.1 $ 180.7 $ 256.6 $ 3,823.3 Accumulated impairment losses (609.1 ) — (88.3 ) — (697.4 ) Goodwill (net) $ 1,384.8 $ 1,392.1 $ 92.4 $ 256.6 $ 3,125.9

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	6 Months Ended
Intangible Assets, net (Tables)	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Total Intangible Assets	March 31, 2017 September 30, 2016 Carrying Accumulated Amortization Net Carrying Accumulated Amortization Net Subject to amortization: Customer relationships $ 2,056.6 $ (358.0 ) $ 1,698.6 $ 2,012.7 $ (302.0 ) $ 1,710.7 Trademarks/brands 802.6 (141.5 ) 661.1 795.1 (120.6 ) 674.5 Other intangible assets 21.7 (8.7 ) 13.0 21.7 (7.7 ) 14.0 2,880.9 (508.2 ) 2,372.7 2,829.5 (430.3 ) 2,399.2 Not subject to amortization: Trademarks/brands 434.5 — 434.5 434.5 — 434.5 $ 3,315.4 $ (508.2 ) $ 2,807.2 $ 3,264.0 $ (430.3 ) $ 2,833.7

(Loss) Earnings Per Share (Tabl

(Loss) Earnings Per Share (Tables)	6 Months Ended
(Loss) Earnings Per Share (Tables)	Mar. 31, 2017
Earnings Per Share [Abstract]
Computation of basic and diluted (loss) earnings per share	Three Months Ended Six Months Ended 2017 2016 2017 2016 Net (loss) earnings for basic (loss) earnings per share $ (7.4 ) $ 1.5 $ 86.8 $ 12.0 Dilutive preferred stock dividends — — 6.8 — Net (loss) earnings for diluted (loss) earnings per share $ (7.4 ) $ 1.5 $ 93.6 $ 12.0 Weighted-average shares outstanding 64.4 64.2 64.5 63.4 Effect of TEUs on weighted-average shares for basic (loss) earnings per share 3.8 4.9 4.3 4.9 Weighted-average shares for basic (loss) earnings per share 68.2 69.1 68.7 68.3 Effect of dilutive securities: Stock options — 1.0 1.2 1.0 Stock appreciation rights — 0.1 0.1 0.1 Restricted stock awards — 0.3 0.2 0.3 Preferred shares conversion to common — — 9.1 — Total dilutive securities — 1.4 10.6 1.4 Weighted-average shares for diluted (loss) earnings per share 68.2 70.5 79.3 69.7 Basic (loss) earnings per common share $ (0.11 ) $ 0.02 $ 1.26 $ 0.18 Diluted (loss) earnings per common share $ (0.11 ) $ 0.02 $ 1.18 $ 0.17
Antidilutive Securities Excluded from Computation of (Loss) Earnings Per Share
Antidilutive Securities Excluded from Computation of (Loss) Earnings Per Share	Three Months Ended Six Months Ended 2017 2016 2017 2016 Stock options 4.2 0.3 0.3 0.3 Stock appreciation rights 0.1 — — — Restricted stock awards 0.7 0.2 — 0.4 Preferred shares conversion to common 9.1 9.1 — 9.1

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Mar. 31, 2017
Inventory [Abstract]
Inventories	March 31, September 30, Raw materials and supplies $ 109.1 $ 112.4 Work in process 19.2 17.4 Finished products 353.2 339.3 Flocks 31.5 34.0 $ 513.0 $ 503.1

Property, net (Tables)

Property, net (Tables)	6 Months Ended
Property, net (Tables)	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, net	March 31, September 30, 2016 Property, at cost $ 1,964.4 $ 1,900.3 Accumulated depreciation (618.6 ) (545.9 ) $ 1,345.8 $ 1,354.4

Derivative Financial Instrume32

Derivative Financial Instruments and Hedging (Tables)	6 Months Ended
Derivative Financial Instruments and Hedging (Tables)	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments in Condensed Consolidated Balance Sheets	Balance Sheet Location March 31, September 30, 2016 Commodity contracts Prepaid expenses and other current assets $ 3.4 $ 0.6 Energy contracts Prepaid expenses and other current assets 3.0 2.4 Total Assets $ 6.4 $ 3.0 Commodity contracts Other current liabilities $ 1.3 $ 3.3 Energy contracts Other current liabilities 0.2 0.2 Foreign currency exchange contracts Other current liabilities 0.1 — Interest rate swaps Other current liabilities 1.9 2.0 Interest rate swaps Other liabilities 166.7 313.2 Total Liabilities $ 170.2 $ 318.7
Derivative Instruments, (Gain) Loss in Condensed Consolidated Statement of Operations	(Gain) Loss Recognized in Statement of Operations Statement of Operations Location Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Commodity contracts Cost of goods sold $ (1.1 ) $ (0.2 ) $ 3.4 $ 4.2 Energy contracts Cost of goods sold 3.5 0.8 0.3 4.9 Foreign currency exchange contracts Selling, general and administrative expenses 0.1 — 0.1 — Interest rate swaps Other (income) expense (1.0 ) 90.9 (145.5 ) 106.8

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, by Balance Sheet Grouping	March 31, 2017 September 30, 2016 Total Level 1 Level 2 Total Level 1 Level 2 Assets: Deferred compensation investment $ 13.4 $ 13.4 $ — $ 11.5 $ 11.5 $ — Derivative assets 6.4 — 6.4 3.0 — 3.0 $ 19.8 $ 13.4 $ 6.4 $ 14.5 $ 11.5 $ 3.0 Liabilities: Deferred compensation liabilities $ 20.2 $ — $ 20.2 $ 17.3 $ — $ 17.3 Derivative liabilities 170.2 — 170.2 318.7 — 318.7 $ 190.4 $ — $ 190.4 $ 336.0 $ — $ 336.0 The following table presents the fair value of the Company’s long-term debt which is classified as Level 2 in the fair value hierarchy per ASC Topic 820: March 31, September 30, 2016 Senior notes $ 5,411.2 $ 4,835.9 TEUs 5.6 15.0 4.57% 2012 Series Bond maturing September 2017 0.7 1.3 Capital leases 0.3 — $ 5,417.8 $ 4,852.2
Fair Value Measurements, Nonrecurring	Balance, September 30, 2016 $ 10.1 Gain on assets held for sale 0.2 Cash received from sale of assets (10.3 ) Balance, March 31, 2017 $ —

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
Long-Term Debt (Tables)	Mar. 31, 2017
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt as of the dates indicated consists of the following: March 31, September 30, 2016 5.50% Senior Notes maturing March 2025 $ 1,000.0 $ — 5.75% Senior Notes maturing March 2027 750.0 — 5.00% Senior Notes maturing August 2026 1,750.0 1,750.0 7.75% Senior Notes maturing March 2024 800.0 800.0 8.00% Senior Notes maturing July 2025 400.0 400.0 6.00% Senior Notes maturing December 2022 630.0 630.0 6.75% Senior Notes maturing December 2021 — 875.0 7.375% Senior Notes maturing February 2022 — 133.0 TEUs 3.7 11.0 4.57% 2012 Series Bond maturing September 2017 0.7 1.3 Capital leases 0.3 — $ 5,334.7 $ 4,600.3 Less: Current Portion (4.5 ) (12.3 ) Debt issuance costs, net (64.2 ) (53.5 ) Plus: Unamortized premium — 16.7 Total long-term debt $ 5,266.0 $ 4,551.2

Pension and Other Postretirem35

Pension and Other Postretirement Benefits (Tables)	6 Months Ended
Pension and Other Postretirement Benefits (Tables)	Mar. 31, 2017
Pension and Other Postretirement Benefit Expense [Abstract]
Components of net periodic benefit cost (gain)	Pension Benefits Three Months Ended Six Months Ended 2017 2016 2017 2016 Components of net periodic benefit cost Service cost $ 1.0 $ 1.0 $ 2.0 $ 2.0 Interest cost 0.5 0.6 1.1 1.2 Expected return on plan assets (0.8 ) (0.6 ) (1.5 ) (1.3 ) Recognized net actuarial loss 0.4 0.2 0.8 0.5 Recognized prior service cost 0.1 0.1 0.1 0.2 Net periodic benefit cost $ 1.2 $ 1.3 $ 2.5 $ 2.6 Other Benefits Three Months Ended Six Months Ended 2017 2016 2017 2016 Components of net periodic benefit cost Service cost $ 0.2 $ 0.4 $ 0.3 $ 0.8 Interest cost 0.5 1.1 1.0 2.4 Recognized net actuarial loss 0.1 0.3 0.3 0.7 Recognized prior service credit (1.2 ) (0.6 ) (2.4 ) (0.9 ) Net periodic benefit (gain) cost $ (0.4 ) $ 1.2 $ (0.8 ) $ 3.0

Segments (Tables)

Segments (Tables)	6 Months Ended
Segments (Tables)	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	Three Months Ended Six Months Ended 2017 2016 2017 2016 Net Sales Post Consumer Brands $ 431.1 $ 440.1 $ 851.7 $ 851.7 Michael Foods Group 515.0 557.7 1,054.8 1,144.1 Active Nutrition 177.3 143.8 331.2 259.6 Private Brands 132.1 129.7 267.7 265.3 Eliminations (0.1 ) (0.2 ) (0.2 ) (0.8 ) Total $ 1,255.4 $ 1,271.1 $ 2,505.2 $ 2,519.9 Segment Profit Post Consumer Brands $ 90.1 $ 74.7 $ 171.7 $ 137.6 Michael Foods Group 42.7 89.6 25.7 170.4 Active Nutrition 21.2 13.8 46.1 24.3 Private Brands 9.5 7.7 16.5 20.6 Total segment profit 163.5 185.8 260.0 352.9 General corporate expenses and other 26.0 23.3 46.3 57.5 Interest expense, net 80.2 77.2 153.1 155.0 Loss on extinguishment of debt 62.5 — 62.5 — Other (income) expense (1.0 ) 90.9 (145.5 ) 106.8 (Loss) Earnings before income taxes $ (4.2 ) $ (5.6 ) $ 143.6 $ 33.6 Depreciation and amortization Post Consumer Brands $ 27.3 $ 26.2 $ 54.1 $ 52.5 Michael Foods Group 36.8 36.1 73.5 70.5 Active Nutrition 6.3 6.2 12.5 12.4 Private Brands 6.7 6.2 13.2 12.4 Total segment depreciation and amortization 77.1 74.7 153.3 147.8 Corporate and accelerated depreciation 0.9 1.7 1.8 3.4 Total $ 78.0 $ 76.4 $ 155.1 $ 151.2 Assets March 31, 2017 September 30, 2016 Post Consumer Brands $ 3,342.9 $ 3,387.0 Michael Foods Group 3,586.6 3,498.1 Active Nutrition 627.5 624.8 Private Brands 659.1 655.9 Corporate 1,609.5 1,194.8 Total $ 9,825.6 $ 9,360.6

Condensed Consolidating Finan37

Condensed Consolidating Financial Statements of Guarantors (Tables)	6 Months Ended
	Mar. 31, 2017
Schedule Of Condensed Financial Statements [Abstract]
Condensed Consolidating Statements of Operations	POST HOLDINGS, INC. CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended March 31, 2017 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 1,139.3 $ 137.4 $ (21.3 ) $ 1,255.4 Cost of goods sold — 798.6 114.0 (21.3 ) 891.3 Gross Profit — 340.7 23.4 — 364.1 Selling, general and administrative expenses 4.0 170.1 13.2 — 187.3 Amortization of intangible assets — 36.7 2.3 — 39.0 Other operating expenses, net — 0.3 — — 0.3 Operating (Loss) Profit (4.0 ) 133.6 7.9 — 137.5 Interest expense, net 77.7 — 2.5 — 80.2 Loss on extinguishment of debt 62.5 — — — 62.5 Other income (1.0 ) — — — (1.0 ) (Loss) Earnings before Income Taxes (143.2 ) 133.6 5.4 — (4.2 ) Income tax (benefit) expense (49.3 ) 47.1 2.0 — (0.2 ) Net (Loss) Earnings before Equity in Subsidiaries (93.9 ) 86.5 3.4 — (4.0 ) Equity earnings in subsidiaries 89.9 0.6 — (90.5 ) — Net (Loss) Earnings $ (4.0 ) $ 87.1 $ 3.4 $ (90.5 ) $ (4.0 ) Total Comprehensive (Loss) Income $ (3.7 ) $ 86.7 $ 2.7 $ (89.4 ) $ (3.7 ) Three Months Ended March 31, 2016 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 1,156.0 $ 130.4 $ (15.3 ) $ 1,271.1 Cost of goods sold — 765.0 112.1 (15.3 ) 861.8 Gross Profit — 391.0 18.3 — 409.3 Selling, general and administrative expenses 4.9 189.9 10.8 — 205.6 Amortization of intangible assets — 35.9 2.2 — 38.1 Other operating expenses (income), net — 12.8 (9.7 ) — 3.1 Operating (Loss) Profit (4.9 ) 152.4 15.0 — 162.5 Interest expense (income), net 74.8 (0.3 ) 2.7 — 77.2 Other expense 90.9 — — — 90.9 (Loss) Earnings before Income Taxes (170.6 ) 152.7 12.3 — (5.6 ) Income tax expense (benefit) 8.0 (19.7 ) 1.2 — (10.5 ) Net (Loss) Earnings before Equity in Subsidiaries (178.6 ) 172.4 11.1 — 4.9 Equity earnings in subsidiaries 183.5 8.7 — (192.2 ) — Net Earnings $ 4.9 $ 181.1 $ 11.1 $ (192.2 ) $ 4.9 Total Comprehensive Income $ 46.6 $ 203.1 $ 21.0 $ (224.1 ) $ 46.6 Six Months Ended March 31, 2017 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 2,273.7 $ 266.2 $ (34.7 ) $ 2,505.2 Cost of goods sold — 1,572.3 224.3 (34.7 ) 1,761.9 Gross Profit — 701.4 41.9 — 743.3 Selling, general and administrative expenses 7.9 420.9 22.6 — 451.4 Amortization of intangible assets — 73.3 4.6 — 77.9 Other operating expenses, net — 0.3 — — 0.3 Operating (Loss) Profit (7.9 ) 206.9 14.7 — 213.7 Interest expense, net 148.1 — 5.0 — 153.1 Loss on extinguishment of debt 62.5 — — — 62.5 Other income (145.5 ) — — — (145.5 ) (Loss) Earnings before Income Taxes (73.0 ) 206.9 9.7 — 143.6 Income tax (benefit) expense (25.4 ) 72.3 3.1 — 50.0 Net (Loss) Earnings before Equity in Subsidiaries (47.6 ) 134.6 6.6 — 93.6 Equity earnings in subsidiaries 141.2 0.4 — (141.6 ) — Net Earnings $ 93.6 $ 135.0 $ 6.6 $ (141.6 ) $ 93.6 Total Comprehensive Income $ 91.6 $ 134.2 $ 7.4 $ (141.6 ) $ 91.6 Six Months Ended March 31, 2016 Parent Non- Company Guarantors Guarantors Eliminations Total Net Sales $ — $ 2,278.2 $ 272.7 $ (31.0 ) $ 2,519.9 Cost of goods sold — 1,547.4 231.7 (31.0 ) 1,748.1 Gross Profit — 730.8 41.0 — 771.8 Selling, general and administrative expenses 9.5 363.7 19.4 — 392.6 Amortization of intangible assets — 71.7 4.5 — 76.2 Other operating expenses (income), net — 17.3 (9.7 ) — 7.6 Operating (Loss) Profit (9.5 ) 278.1 26.8 — 295.4 Interest expense (income), net 150.0 (0.5 ) 5.5 — 155.0 Other expense 106.8 — — — 106.8 (Loss) Earnings before Income Taxes (266.3 ) 278.6 21.3 — 33.6 Income tax (benefit) expense (25.4 ) 24.8 3.8 — 3.2 Net (Loss) Earnings before Equity in Subsidiaries (240.9 ) 253.8 17.5 — 30.4 Equity earnings in subsidiaries 271.3 8.2 — (279.5 ) — Net Earnings $ 30.4 $ 262.0 $ 17.5 $ (279.5 ) $ 30.4 Total Comprehensive Income $ 62.6 $ 284.3 $ 22.4 $ (306.7 ) $ 62.6
Condensed Consolidating Balance Sheets	POST HOLDINGS, INC. CONDENSED CONSOLIDATING BALANCE SHEETS (Unaudited) March 31, 2017 Parent Non- Company Guarantors Guarantors Eliminations Total ASSETS Current Assets Cash and cash equivalents $ 1,466.6 $ 7.4 $ 24.8 $ (13.9 ) $ 1,484.9 Restricted cash 1.0 4.5 0.7 — 6.2 Receivables, net 78.4 363.1 50.1 (7.3 ) 484.3 Inventories — 435.2 77.8 — 513.0 Prepaid expenses and other current assets 6.3 29.1 1.3 — 36.7 Total Current Assets 1,552.3 839.3 154.7 (21.2 ) 2,525.1 Property, net — 1,308.6 37.2 — 1,345.8 Goodwill — 2,995.3 130.6 — 3,125.9 Other intangible assets, net — 2,723.1 84.1 — 2,807.2 Intercompany receivable 1,604.1 — — (1,604.1 ) — Intercompany notes receivable 147.0 — — (147.0 ) — Investment in subsidiaries 5,979.5 20.6 — (6,000.1 ) — Other assets 13.6 8.0 — — 21.6 Total Assets $ 9,296.5 $ 7,894.9 $ 406.6 $ (7,772.4 ) $ 9,825.6 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities Current portion of long-term debt $ 3.8 $ 0.7 $ — $ — $ 4.5 Accounts payable 0.1 199.5 31.9 (21.2 ) 210.3 Other current liabilities 54.0 171.0 16.6 — 241.6 Total Current Liabilities 57.9 371.2 48.5 (21.2 ) 456.4 Long-term debt 5,265.8 0.2 — — 5,266.0 Intercompany payable — 1,591.2 12.9 (1,604.1 ) — Intercompany notes payable — — 147.0 (147.0 ) — Deferred income taxes 792.7 — 21.3 — 814.0 Other liabilities 191.9 99.7 9.4 — 301.0 Total Liabilities 6,308.3 2,062.3 239.1 (1,772.3 ) 6,837.4 Total Shareholders’ Equity 2,988.2 5,832.6 167.5 (6,000.1 ) 2,988.2 Total Liabilities and Shareholders’ Equity $ 9,296.5 $ 7,894.9 $ 406.6 $ (7,772.4 ) $ 9,825.6 September 30, 2016 Parent Non- Company Guarantors Guarantors Eliminations Total ASSETS Current Assets Cash and cash equivalents $ 1,116.2 $ 14.1 $ 28.6 $ (15.3 ) $ 1,143.6 Restricted cash 1.0 6.7 0.7 — 8.4 Receivables, net 31.2 316.9 50.6 (13.7 ) 385.0 Inventories — 435.3 67.8 — 503.1 Prepaid expenses and other current assets 3.5 31.5 1.8 — 36.8 Total Current Assets 1,151.9 804.5 149.5 (29.0 ) 2,076.9 Property, net — 1,314.9 39.5 — 1,354.4 Goodwill — 2,949.0 130.7 — 3,079.7 Other intangible assets, net — 2,745.0 88.7 — 2,833.7 Intercompany receivable 1,519.5 — — (1,519.5 ) — Intercompany notes receivable 149.1 — — (149.1 ) — Investment in subsidiaries 5,843.6 25.6 — (5,869.2 ) — Other assets 9.3 6.6 — — 15.9 Total Assets $ 8,673.4 $ 7,845.6 $ 408.4 $ (7,566.8 ) $ 9,360.6 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities Current portion of long-term debt $ 11.0 $ 1.3 $ — $ — $ 12.3 Accounts payable 0.1 252.9 40.4 (29.0 ) 264.4 Other current liabilities 61.4 278.8 17.1 — 357.3 Total Current Liabilities 72.5 533.0 57.5 (29.0 ) 634.0 Long-term debt 4,551.2 — — — 4,551.2 Intercompany payable — 1,509.9 9.6 (1,519.5 ) — Intercompany notes payable — — 149.1 (149.1 ) — Deferred income taxes 703.8 — 22.7 — 726.5 Other liabilities 337.3 93.5 9.5 — 440.3 Total Liabilities 5,664.8 2,136.4 248.4 (1,697.6 ) 6,352.0 Total Shareholders’ Equity 3,008.6 5,709.2 160.0 (5,869.2 ) 3,008.6 Total Liabilities and Shareholders’ Equity $ 8,673.4 $ 7,845.6 $ 408.4 $ (7,566.8 ) $ 9,360.6
Condensed Consolidating Statements of Cash Flows	POST HOLDINGS, INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (Unaudited) Six Months Ended March 31, 2017 Parent Non- Company Guarantors Guarantors Eliminations Total Net Cash (Used In) Provided by Operating Activities $ (62.4 ) $ 138.7 $ (1.2 ) $ (101.6 ) $ (26.5 ) Cash Flows from Investing Activities Business acquisitions, net of cash acquired — (90.2 ) — — (90.2 ) Additions to property — (61.7 ) (2.2 ) — (63.9 ) Restricted cash — 2.2 — — 2.2 Proceeds from sale of property and assets held for sale — 10.3 — — 10.3 Capitalization of subsidiaries (107.8 ) — — 107.8 — Proceeds from equity distributions 10.2 — — (10.2 ) — Net Cash Used in Investing Activities (97.6 ) (139.4 ) (2.2 ) 97.6 (141.6 ) Cash Flows from Financing Activities Proceeds from issuance of long-term debt 1,750.0 — — — 1,750.0 Repayments of long-term debt (1,015.3 ) (0.6 ) — — (1,015.9 ) Payment of preferred stock dividend (6.8 ) — — — (6.8 ) Purchases of treasury stock (133.1 ) — — — (133.1 ) Payments of debt issuance costs and deferred financing costs (27.6 ) — — — (27.6 ) Payments of tender premiums on debt extinguishment (67.9 ) — — — (67.9 ) Proceeds from exercise of stock awards 9.4 — — — 9.4 Proceeds from Parent capitalization — 97.6 10.2 (107.8 ) — Payments for equity distributions — (103.0 ) (10.2 ) 113.2 — Other, net 1.7 — — — 1.7 Net Cash Provided by (Used in) Financing Activities 510.4 (6.0 ) — 5.4 509.8 Effect of exchange rate changes on cash and cash equivalents — — (0.4 ) — (0.4 ) Net Increase (Decrease) in Cash and Cash Equivalents 350.4 (6.7 ) (3.8 ) 1.4 341.3 Cash and Cash Equivalents, Beginning of Year 1,116.2 14.1 28.6 (15.3 ) 1,143.6 Cash and Cash Equivalents, End of Period $ 1,466.6 $ 7.4 $ 24.8 $ (13.9 ) $ 1,484.9 Six Months Ended March 31, 2016 Parent Non- Company Guarantors Guarantors Eliminations Total Net Cash Provided by Operating Activities $ 80.9 $ 356.0 $ 10.2 $ (250.7 ) $ 196.4 Cash Flows from Investing Activities Business acquisitions, net of cash acquired — (94.4 ) — — (94.4 ) Additions to property — (43.2 ) (1.6 ) — (44.8 ) Restricted cash — 10.4 — — 10.4 Proceeds from sale of property — 0.6 — — 0.6 Proceeds from sale of businesses (0.2 ) — 6.4 — 6.2 Capitalization of subsidiaries (123.2 ) — — 123.2 — Proceeds from equity distributions 89.8 0.2 — (90.0 ) — Net receipts for intercompany revolver 7.7 — — (7.7 ) — Net Cash (Used in) Provided by Investing Activities (25.9 ) (126.4 ) 4.8 25.5 (122.0 ) Cash Flows from Financing Activities Repayments of long term-debt (7.0 ) (1.0 ) (0.1 ) — (8.1 ) Payments of preferred stock dividends (7.7 ) — — — (7.7 ) Preferred stock conversion (10.9 ) — — — (10.9 ) Proceeds from exercise of stock awards 6.2 — — — 6.2 Net cash paid in advance for stock repurchase contracts (28.3 ) — — — (28.3 ) Proceeds from Parent capitalization — 113.6 — (113.6 ) — Payments for equity distributions — (342.2 ) (0.2 ) 342.4 — Net payments from intercompany revolver — — (7.7 ) 7.7 — Other, net 0.3 — — — 0.3 Net Cash Used in Financing Activities (47.4 ) (229.6 ) (8.0 ) 236.5 (48.5 ) Effect of Exchange Rate Changes on Cash and Cash Equivalents — — 0.9 — 0.9 Net Increase in Cash and Cash Equivalents 7.6 — 7.9 11.3 26.8 Cash and Cash Equivalents, Beginning of Year 809.6 30.5 19.2 (17.9 ) 841.4 Cash and Cash Equivalents, End of Period $ 817.2 $ 30.5 $ 27.1 $ (6.6 ) $ 868.2

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Restructuring (Details) - USD ($) $ in Millions	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Restructuring Reserve [Roll Forward]
Beginning Balance		$ 1.1	$ 10.5
Charge to expense	$ 0.5	0	1.7
Cash payments		(0.9)	(6.1)
Non-cash charges		0	(1)
Ending Balance	5.1	0.2	5.1
Total expected restructuring charge		15.1
Cumulative restructuring charges incurred to date		15.1
Remaining expected restructuring charge		0
Employee Severance
Restructuring Reserve [Roll Forward]
Beginning Balance		1.1	10.5
Charge to expense		0	1.3
Cash payments		(0.9)	(6.1)
Non-cash charges		0	(0.6)
Ending Balance	5.1	0.2	5.1
Total expected restructuring charge		12.6
Cumulative restructuring charges incurred to date		12.6
Remaining expected restructuring charge		0
Accelerated depreciation
Restructuring Reserve [Roll Forward]
Beginning Balance		0	0
Charge to expense		0	0.4
Cash payments		0	0
Non-cash charges		0	(0.4)
Ending Balance	$ 0	0	$ 0
Total expected restructuring charge		2.5
Cumulative restructuring charges incurred to date		2.5
Remaining expected restructuring charge		$ 0

Restructuring Narrative (Detail

Restructuring Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Restructuring Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 0.5	$ 0	$ 1.7
(Losses) Gain on assets held for sale	$ (4.4)	0.2	$ (8.4)
Level 3
Restructuring Cost and Reserve [Line Items]
Carrying value of assets held for sale		0		$ 10.1
(Losses) Gain on assets held for sale		$ 0.2
Modesto, California facility \| Level 3
Restructuring Cost and Reserve [Line Items]
Carrying value of assets held for sale				4.3
Farmers Branch, Texas facility \| Level 3
Restructuring Cost and Reserve [Line Items]
Carrying value of assets held for sale				$ 5.8

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Millions	Oct. 04, 2016	Oct. 04, 2015	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2017	Mar. 31, 2016	Oct. 03, 2016	Sep. 30, 2016
Business Acquisition [Line Items]
Net Sales			$ 1,255.4	$ 1,271.1		$ 2,505.2	$ 2,519.9
Operating Losses			137.5	162.5		213.7	295.4
Goodwill			3,125.9			3,125.9			$ 3,079.7
Acquisition and Divestiture Related Costs			2.8	$ 0.2		3.5	$ 2.2
National Pasteurized Eggs
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 93.5
Business Combination, Consideration Transferred	$ 97
Business Combinations, Purchase Price Adjustment, Net Working Capital Settlement			1.2
Business Combinations, Purchase Price Adjustment, Net Working Capital Settlement, Payable			1.8			1.8
Net Sales			23.6			46.9
Operating Losses			$ 0.6			2.7
Cash and cash equivalents								$ 5.6
Receivables								9.6
Inventories								2.1
Prepaid expenses and other current assets								0.4
Property								10.4
Goodwill								46.3
Other intangible assets								51.4
Current portion of capital lease								(0.1)
Accounts payable								(6.3)
Other current liabilities								(2.9)
Long-term capital lease								(0.2)
Deferred tax liability - long-term								18.7
Total acquisition cost								$ 97.6
Willamette Egg
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
Customer Relationships \| National Pasteurized Eggs
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired						$ 43.9
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						16 years
Trademarks \| National Pasteurized Eggs
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired						$ 7.5
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		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Business Combinations [Abstract]
Pro forma net sales	$ 1,255.4	$ 1,301.1	$ 2,505.2	$ 2,584.9
Pro forma net (loss) earnings available to common shareholders	$ (7.3)	$ 3.4	$ 86.9	$ 16.8
Pro forma basic (loss) earnings per share (in US$ per share)	$ (0.11)	$ 0.05	$ 1.26	$ 0.25
Pro forma diluted (loss) earnings per share (in US$ per share)	$ (0.11)	$ 0.05	$ 1.18	$ 0.24

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Goodwill
Goodwill (gross)	$ 3,823.3	$ 3,777.1
Accumulated impairment losses	(697.4)	(697.4)
Goodwill	3,125.9	3,079.7
Goodwill acquired	46.3
Currency translation adjustment	(0.1)
Post Consumer Brands
Goodwill
Goodwill (gross)	1,993.9	1,994
Accumulated impairment losses	(609.1)	(609.1)
Goodwill	1,384.8	1,384.9
Goodwill acquired	0
Currency translation adjustment	(0.1)
Michael Foods Group
Goodwill
Goodwill (gross)	1,392.1	1,345.8
Accumulated impairment losses	0	0
Goodwill	1,392.1	1,345.8
Goodwill acquired	46.3
Currency translation adjustment	0
Active Nutrition
Goodwill
Goodwill (gross)	180.7	180.7
Accumulated impairment losses	(88.3)	(88.3)
Goodwill	92.4	92.4
Goodwill acquired	0
Currency translation adjustment	0
Private Brands
Goodwill
Goodwill (gross)	256.6	256.6
Accumulated impairment losses	0	0
Goodwill	256.6	$ 256.6
Goodwill acquired	0
Currency translation adjustment	$ 0

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
Income Taxes (Details)	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Percent	4.80%	187.50%	34.80%	9.50%

Intangible Assets, net (Details

Intangible Assets, net (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Gross	$ 2,880.9	$ 2,829.5
Finite-Lived Intangible Assets, Accumulated Amortization	(508.2)	(430.3)
Finite-Lived Intangible Assets, Net	2,372.7	2,399.2
Intangible Assets, Net (Excluding Goodwill)
Carrying amount, total	3,315.4	3,264
Other intangible assets, net	2,807.2	2,833.7
Trademarks
Indefinite-Lived Intangible Assets (Excluding Goodwill)
Carrying amount	434.5	434.5
Customer Relationships
Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Gross	2,056.6	2,012.7
Finite-Lived Intangible Assets, Accumulated Amortization	(358)	(302)
Finite-Lived Intangible Assets, Net	1,698.6	1,710.7
Trademarks
Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Gross	802.6	795.1
Finite-Lived Intangible Assets, Accumulated Amortization	(141.5)	(120.6)
Finite-Lived Intangible Assets, Net	661.1	674.5
Other Intangible Assets
Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Gross	21.7	21.7
Finite-Lived Intangible Assets, Accumulated Amortization	(8.7)	(7.7)
Finite-Lived Intangible Assets, Net	$ 13	$ 14

(Loss) Earnings Per Share (Deta

(Loss) Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
(Loss) Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Net (Loss) Earnings Available to Common Shareholders	$ (7.4)	$ 1.5	$ 86.8	$ 12
Dilutive preferred stock dividends	0	0	6.8	0
Net (loss) earnings for diluted (loss) earnings per share	$ (7.4)	$ 1.5	$ 93.6	$ 12
Weighted Average Number of Shares Outstanding, Basic and Diluted	64,400,000	64,200,000	64,500,000	63,400,000
Dilutive Securities, Effect of TEUs on Basic (Loss) Earnings Per Share	3,800,000	4,900,000	4,300,000	4,900,000
Weighted-average shares for basic earnings per share	68,200,000	69,100,000	68,700,000	68,300,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	1,400,000	10,600,000	1,400,000
Weighted-average shares for diluted earnings per share	68,200,000	70,500,000	79,300,000	69,700,000
Basic (loss) earnings per share (in usd per share)	$ (0.11)	$ 0.02	$ 1.26	$ 0.18
Diluted (loss) earnings per share (in usd per share)	$ (0.11)	$ 0.02	$ 1.18	$ 0.17
Stock Options
(Loss) Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	1,000,000	1,200,000	1,000,000
Stock Appreciation Rights
(Loss) Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	100,000	100,000	100,000
Restricted Stock Awards
(Loss) Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	300,000	200,000	300,000
Preferred Stock
(Loss) Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	0	9,100,000	0
Minimum
(Loss) Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Tangible Equity Unit, Equity Component, Settlement Rate per Unit			1.7114
Maximum
(Loss) Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Tangible Equity Unit, Equity Component, Settlement Rate per Unit			2.0964

(Loss) Earnings Per Share Antid

(Loss) Earnings Per Share Antidilutive shares excluded from (loss) earnings per share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Stock Options
Antidilutive Securities Excluded from Computation of (Loss) Earnings Per Share
Antidilutive Securities Excluded from Computation of (Loss) Earnings Per Share, Amount	4.2	0.3	0.3	0.3
Stock Appreciation Rights
Antidilutive Securities Excluded from Computation of (Loss) Earnings Per Share
Antidilutive Securities Excluded from Computation of (Loss) Earnings Per Share, Amount	0.1	0	0	0
Restricted Stock Awards
Antidilutive Securities Excluded from Computation of (Loss) Earnings Per Share
Antidilutive Securities Excluded from Computation of (Loss) Earnings Per Share, Amount	0.7	0.2	0	0.4
Preferred Stock
Antidilutive Securities Excluded from Computation of (Loss) Earnings Per Share
Antidilutive Securities Excluded from Computation of (Loss) Earnings Per Share, Amount	9.1	9.1	0	9.1

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Inventory [Abstract]
Raw materials and supplies	$ 109.1	$ 112.4
Work in process	19.2	17.4
Finished products	353.2	339.3
Flocks	31.5	34
Inventories	$ 513	$ 503.1

Property, net (Details)

Property, net (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, at cost	$ 1,964.4	$ 1,900.3
Accumulated depreciation	(618.6)	(545.9)
Property, net	$ 1,345.8	$ 1,354.4

Derivative Financial Instrume49

Derivative Financial Instruments and Hedging (Details) £ in Millions, $ in Millions	6 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2017GBP (£)	Sep. 30, 2016USD ($)
Derivatives, Fair Value
Derivative, Remaining Maturity	15 months
Collateral Already Posted	$ 4.6		$ 6.1
Assets, Total
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	6.4		3
Liabilities, Total
Derivatives, Fair Value
Derivative Liability, Fair Value, Gross Liability	170.2		318.7
Commodity Contract
Derivatives, Fair Value
Derivative, Notional Amount	77.2
Commodity Contract \| Other Current Assets
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	3.4		0.6
Commodity Contract \| Other Current Liabilities
Derivatives, Fair Value
Derivative Liability, Fair Value, Gross Liability	1.3		3.3
Energy Contracts
Derivatives, Fair Value
Derivative, Notional Amount	16.6
Energy Contracts \| Other Current Assets
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	3		2.4
Energy Contracts \| Other Current Liabilities
Derivatives, Fair Value
Derivative Liability, Fair Value, Gross Liability	0.2		0.2
Foreign currency exchange contracts \| Other Current Liabilities
Derivatives, Fair Value
Derivative Liability, Fair Value, Gross Liability	0.1		0
Interest Rate Swap
Derivatives, Fair Value
Derivative, Notional Amount	$ 76.8
Derivative, Fixed Interest Rate	3.10%	3.10%
Interest Rate Swap \| Other Current Liabilities
Derivatives, Fair Value
Derivative Liability, Fair Value, Gross Liability	$ 1.9		2
Interest Rate Swap \| Other Noncurrent Liabilities
Derivatives, Fair Value
Derivative Liability, Fair Value, Gross Liability	166.7		$ 313.2
Interest rate swap, rate lock swaps, net settlement July 2018
Derivatives, Fair Value
Derivative, Notional Amount	$ 750
Derivative, Fixed Interest Rate	4.00%	4.00%
Interest rate swap, rate lock swaps, net settlement December 2019
Derivatives, Fair Value
Derivative, Notional Amount	$ 899.3
Derivative, Fixed Interest Rate	3.70%	3.70%
United States of America, Dollars \| Foreign currency exchange contracts
Derivatives, Fair Value
Derivative, Notional Amount	$ 17.4
United Kingdom, Pounds \| Foreign currency exchange contracts
Derivatives, Fair Value
Derivative, Notional Amount \| £		£ 14

Derivative Financial Instrume50

Derivative Financial Instruments and Hedging (Gain) Loss recognized in Statement of Operations from derivative instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Commodity Contract \| Cost of Sales
Derivative Instruments, (Gain) Loss
Derivative Instruments, (Gain) Loss Recognized in Income, Net	$ (1.1)	$ (0.2)	$ 3.4	$ 4.2
Energy Contracts \| Cost of Sales
Derivative Instruments, (Gain) Loss
Derivative Instruments, (Gain) Loss Recognized in Income, Net	3.5	0.8	0.3	4.9
Foreign currency exchange contracts \| Selling, General and Administrative Expenses [Member]
Derivative Instruments, (Gain) Loss
Derivative Instruments, (Gain) Loss Recognized in Income, Net	0.1	0	0.1	0
Interest Rate Swap \| Other (income) expense
Derivative Instruments, (Gain) Loss
Derivative Instruments, (Gain) Loss Recognized in Income, Net	$ (1)	$ 90.9	$ (145.5)	$ 106.8

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Deferred Compensation Plan Assets		$ 13.4		$ 11.5
Derivative assets		6.4		3
Assets, Fair Value Disclosure		19.8		14.5
Deferred compensation liabilities		20.2		17.3
Derivative Liability		170.2		318.7
Other Liabilities, Fair Value Disclosure		190.4		336
(Losses) Gain on assets held for sale	$ (4.4)	0.2	$ (8.4)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Deferred Compensation Plan Assets		13.4		11.5
Derivative assets		0		0
Assets, Fair Value Disclosure		13.4		11.5
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 assets		6.4		3
Assets, Fair Value Disclosure		6.4		3
Deferred compensation liabilities		20.2		17.3
Derivative Liability		170.2		318.7
Other Liabilities, Fair Value Disclosure		190.4		336
Long-term Debt, Fair Value		5,417.8		4,852.2
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying value of assets held for sale		0		10.1
(Losses) Gain on assets held for sale		0.2
Cash received from assets held for sale		(10.3)
Senior Notes \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value		5,411.2		4,835.9
TEUs \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value		5.6		15
Secured Debt, Other \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value		0.7		1.3
Capital Lease Obligations \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value		$ 0.3		0
Modesto, California facility \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying value of assets held for sale				4.3
Farmers Branch, Texas facility \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying value of assets held for sale				$ 5.8

Legal Proceedings (Details)

Legal Proceedings (Details) $ in Millions	6 Months Ended	24 Months Ended
Legal Proceedings (Details) $ in Millions	Mar. 31, 2017USD ($)	Dec. 31, 2009	Sep. 30, 2016USD ($)
Loss Contingencies
Loss Contingency, Number of Defendants		20
Michael Foods
Loss Contingencies
Claims filed, number		22
Litigation Settlement, Amount	$ 75
Litigation Settlement, Expense	$ 74.5
Estimated Litigation Liability			$ 28.5

Long-Term Debt (Details)

Long-Term Debt (Details)	3 Months Ended		6 Months Ended
Long-Term Debt (Details)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Sep. 30, 2016USD ($)
Debt Instrument
Secured Debt, Other	$ 700,000		$ 700,000		$ 1,300,000
Capital Lease Obligations	300,000		300,000		0
Long-term Debt	5,334,700,000		5,334,700,000		4,600,300,000
Current portion of long-term debt	(4,500,000)		(4,500,000)		(12,300,000)
Debt issuance costs, net	(64,200,000)		(64,200,000)		(53,500,000)
Plus: Unamortized premium	0		0		16,700,000
Long-term debt	5,266,000,000		5,266,000,000		4,551,200,000
Loss on extinguishment of debt	62,500,000	$ 0	62,500,000	$ 0
Payments of tender premiums on debt extinguishment	67,900,000		67,900,000	0
Write off of Deferred Debt Issuance Cost	10,100,000
Write-off of unamortized debt premium	15,500,000
Proceeds from issuance of long-term debt			1,750,000,000	0
Payments of Debt Issuance Costs			27,600,000	$ 0
Line of Credit Facility, Maximum Borrowing Capacity	800,000,000		800,000,000
Letters of Credit Outstanding, Amount	10,000,000		10,000,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 790,000,000		$ 790,000,000
Debt Covenant, Leverage Ratio	4.25		4.25
Debt Covenant, Percentage of Revolving Credit Commitments	30.00%		30.00%
Debt Covenant, Maximum Undischarged Judgments	$ 75,000,000		$ 75,000,000
Minimum
Debt Instrument
Debt Instrument, Basis Spread on Variable Rate			0.25%
Maximum
Debt Instrument
Debt Instrument, Basis Spread on Variable Rate			0.375%
Eurodollar \| Minimum
Debt Instrument
Debt Instrument, Basis Spread on Variable Rate			1.75%
Eurodollar \| Maximum
Debt Instrument
Debt Instrument, Basis Spread on Variable Rate			2.25%
Canadian Dollar Offered Rate \| Minimum
Debt Instrument
Debt Instrument, Basis Spread on Variable Rate			0.75%
Canadian Dollar Offered Rate \| Maximum
Debt Instrument
Debt Instrument, Basis Spread on Variable Rate			1.25%
Letter of Credit
Debt Instrument
Line of Credit Facility, Maximum Borrowing Capacity	50,000,000		$ 50,000,000
Revolver Incremental Borrowing Capacity
Debt Instrument
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases	700,000,000		700,000,000
Debt Covenant, Proforma Consolidated Leverage Ratio	6.50		6.50
Debt Covenant, Proforma Senior Secured Leverage Ratio	3		3
5.50% Senior Notes
Debt Instrument
Senior Notes	$ 1,000,000,000		$ 1,000,000,000		0
Debt Instrument, Interest Rate, Stated Percentage	5.50%		5.50%
5.75% Senior Notes
Debt Instrument
Senior Notes	$ 750,000,000		$ 750,000,000		0
Debt Instrument, Interest Rate, Stated Percentage	5.75%		5.75%
5.00% Senior Notes
Debt Instrument
Senior Notes	$ 1,750,000,000		$ 1,750,000,000		1,750,000,000
7.75% Senior Notes
Debt Instrument
Senior Notes	800,000,000		800,000,000		800,000,000
8.00% Senior Notes
Debt Instrument
Senior Notes	400,000,000		400,000,000		400,000,000
6.00% Senior Notes
Debt Instrument
Senior Notes	630,000,000		630,000,000		630,000,000
6.75% Senior Notes
Debt Instrument
Senior Notes	$ 0		$ 0		875,000,000
Debt Instrument, Interest Rate, Stated Percentage	6.75%		6.75%
Early Repayment of Senior Debt	$ 875,000,000
7.375% Senior Notes
Debt Instrument
Senior Notes	$ 0		$ 0		133,000,000
Debt Instrument, Interest Rate, Stated Percentage	7.375%		7.375%
Early Repayment of Senior Debt	$ 133,000,000
5.50% and 5.75% Senior Notes
Debt Instrument
Proceeds from issuance of long-term debt	1,725,400,000
Payments of Debt Issuance Costs	24,600,000
Line of Credit
Debt Instrument
Payments of Debt Issuance Costs	4,300,000
Tangible Equity Units Debt Component
Debt Instrument
Tangible Equity Units, Debt Component	$ 3,700,000		$ 3,700,000		$ 11,000,000

Pension and Other Postretirem54

Pension and Other Postretirement Benefits - Components of Net Periodic Benefit Cost (Gain) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Pension Benefits
Components of net periodic benefit cost (gain)
Service cost	$ 1	$ 1	$ 2	$ 2
Interest cost	0.5	0.6	1.1	1.2
Expected return on plan assets	(0.8)	(0.6)	(1.5)	(1.3)
Recognized net actuarial loss	0.4	0.2	0.8	0.5
Recognized prior service cost (credit)	0.1	0.1	0.1	0.2
Net periodic benefit cost (gain)	1.2	1.3	2.5	2.6
Other Postretirement Benefit Plan
Components of net periodic benefit cost (gain)
Service cost	0.2	0.4	0.3	0.8
Interest cost	0.5	1.1	1	2.4
Recognized net actuarial loss	0.1	0.3	0.3	0.7
Recognized prior service cost (credit)	(1.2)	(0.6)	(2.4)	(0.9)
Net periodic benefit cost (gain)	$ (0.4)	$ 1.2	$ (0.8)	$ 3

Shareholders' Equity (Details)

Shareholders' Equity (Details) $ / shares in Units, shares in Millions, number in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2017shares	Mar. 31, 2017USD ($)$ / sharesshares	Mar. 31, 2016USD ($)
Stockholders' Equity Note [Abstract]
Treasury Stock, Shares, Acquired		1.7
Treasury Stock Acquired, Average Cost Per Share (in USD per share) \| $ / shares		$ 76.32
Total Cost of Treasury Shares Acquired \| $		$ 133.1	$ 0
Tangible Equity Units, Units exchanged	0.9
Stock Issued During Period, Shares, Conversion of Tangible Equity Units	1.5

Segments (Details)

Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Segments (Details) - USD ($) $ in Millions	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Segment Reporting Information
Net Sales	$ 1,255.4	$ 1,271.1	$ 2,505.2	$ 2,519.9
Interest expense, net	80.2	77.2	153.1	155
Loss on extinguishment of debt	62.5	0	62.5	0
Other (income) expense	(1)	90.9	(145.5)	106.8
(Loss) Earnings before income taxes	(4.2)	(5.6)	143.6	33.6
Depreciation and amortization	78	76.4	155.1	151.2
Assets	9,825.6		9,825.6		$ 9,360.6
Post Consumer Brands
Segment Reporting Information
Net Sales	431.1	440.1	851.7	851.7
Segment Profit	90.1	74.7	171.7	137.6
Depreciation and amortization	27.3	26.2	54.1	52.5
Assets	3,342.9		3,342.9		3,387
Michael Foods Group
Segment Reporting Information
Net Sales	515	557.7	1,054.8	1,144.1
Segment Profit	42.7	89.6	25.7	170.4
Depreciation and amortization	36.8	36.1	73.5	70.5
Assets	3,586.6		3,586.6		3,498.1
Active Nutrition
Segment Reporting Information
Net Sales	177.3	143.8	331.2	259.6
Segment Profit	21.2	13.8	46.1	24.3
Depreciation and amortization	6.3	6.2	12.5	12.4
Assets	627.5		627.5		624.8
Private Brands
Segment Reporting Information
Net Sales	132.1	129.7	267.7	265.3
Segment Profit	9.5	7.7	16.5	20.6
Depreciation and amortization	6.7	6.2	13.2	12.4
Assets	659.1		659.1		655.9
Corporate
Segment Reporting Information
Other Expenses	26	23.3	46.3	57.5
Depreciation and amortization	0.9	1.7	1.8	3.4
Assets	1,609.5		1,609.5		$ 1,194.8
Eliminations
Segment Reporting Information
Net Sales	(0.1)	(0.2)	(0.2)	(0.8)
Total Segment
Segment Reporting Information
Segment Profit	163.5	185.8	260	352.9
Depreciation and amortization	$ 77.1	$ 74.7	$ 153.3	$ 147.8

Condensed Consolidating Finan57

Condensed Consolidating Financial Statements of Guarantors - Combined Statements of Operations (Condensed) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Net Sales	$ 1,255.4	$ 1,271.1	$ 2,505.2	$ 2,519.9
Cost of goods sold	891.3	861.8	1,761.9	1,748.1
Gross Profit	364.1	409.3	743.3	771.8
Selling, general and administrative expenses	187.3	205.6	451.4	392.6
Amortization of intangible assets	39	38.1	77.9	76.2
Other operating expenses (income), net	0.3	3.1	0.3	7.6
Operating Profit (Loss)	137.5	162.5	213.7	295.4
Interest expense, net	80.2	77.2	153.1	155
Loss on extinguishment of debt	62.5	0	62.5	0
Other (income) expense	(1)	90.9	(145.5)	106.8
(Loss) Earnings before Income Taxes	(4.2)	(5.6)	143.6	33.6
Income tax expense (benefit)	(0.2)	(10.5)	50	3.2
Net (Loss) Earnings before Equity in Subsidiaries	(4)	4.9	93.6	30.4
Equity earnings in subsidiaries	0	0	0	0
Net (Loss) Earnings	(4)	4.9	93.6	30.4
Total Comprehensive Income	(3.7)	46.6	91.6	62.6
Parent Company
Condensed Financial Statements, Captions [Line Items]
Net Sales	0	0	0	0
Cost of goods sold	0	0	0	0
Gross Profit	0	0	0	0
Selling, general and administrative expenses	4	4.9	7.9	9.5
Amortization of intangible assets	0	0	0	0
Other operating expenses (income), net	0	0	0	0
Operating Profit (Loss)	(4)	(4.9)	(7.9)	(9.5)
Interest expense, net	77.7	74.8	148.1	150
Loss on extinguishment of debt	62.5		62.5
Other (income) expense	(1)	90.9	(145.5)	106.8
(Loss) Earnings before Income Taxes	(143.2)	(170.6)	(73)	(266.3)
Income tax expense (benefit)	(49.3)	8	(25.4)	(25.4)
Net (Loss) Earnings before Equity in Subsidiaries	(93.9)	(178.6)	(47.6)	(240.9)
Equity earnings in subsidiaries	89.9	183.5	141.2	271.3
Net (Loss) Earnings	(4)	4.9	93.6	30.4
Total Comprehensive Income	(3.7)	46.6	91.6	62.6
Guarantors
Condensed Financial Statements, Captions [Line Items]
Net Sales	1,139.3	1,156	2,273.7	2,278.2
Cost of goods sold	798.6	765	1,572.3	1,547.4
Gross Profit	340.7	391	701.4	730.8
Selling, general and administrative expenses	170.1	189.9	420.9	363.7
Amortization of intangible assets	36.7	35.9	73.3	71.7
Other operating expenses (income), net	0.3	12.8	0.3	17.3
Operating Profit (Loss)	133.6	152.4	206.9	278.1
Loss on extinguishment of debt	0		0
Interest Income (Expense), Nonoperating, Net	0	(0.3)	0	(0.5)
Other (income) expense	0	0	0	0
(Loss) Earnings before Income Taxes	133.6	152.7	206.9	278.6
Income tax expense (benefit)	47.1	(19.7)	72.3	24.8
Net (Loss) Earnings before Equity in Subsidiaries	86.5	172.4	134.6	253.8
Equity earnings in subsidiaries	0.6	8.7	0.4	8.2
Net (Loss) Earnings	87.1	181.1	135	262
Total Comprehensive Income	86.7	203.1	134.2	284.3
Non-Guarantors
Condensed Financial Statements, Captions [Line Items]
Net Sales	137.4	130.4	266.2	272.7
Cost of goods sold	114	112.1	224.3	231.7
Gross Profit	23.4	18.3	41.9	41
Selling, general and administrative expenses	13.2	10.8	22.6	19.4
Amortization of intangible assets	2.3	2.2	4.6	4.5
Other operating expenses (income), net	0	(9.7)	0	(9.7)
Operating Profit (Loss)	7.9	15	14.7	26.8
Interest expense, net	2.5	2.7	5	5.5
Loss on extinguishment of debt	0		0
Other (income) expense	0	0	0	0
(Loss) Earnings before Income Taxes	5.4	12.3	9.7	21.3
Income tax expense (benefit)	2	1.2	3.1	3.8
Net (Loss) Earnings before Equity in Subsidiaries	3.4	11.1	6.6	17.5
Equity earnings in subsidiaries	0	0	0	0
Net (Loss) Earnings	3.4	11.1	6.6	17.5
Total Comprehensive Income	2.7	21	7.4	22.4
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net Sales	(21.3)	(15.3)	(34.7)	(31)
Cost of goods sold	(21.3)	(15.3)	(34.7)	(31)
Gross Profit	0	0	0	0
Selling, general and administrative expenses	0	0	0	0
Amortization of intangible assets	0	0	0	0
Other operating expenses (income), net	0	0	0	0
Operating Profit (Loss)	0	0	0	0
Interest expense, net	0	0	0	0
Loss on extinguishment of debt	0		0
Other (income) expense	0	0	0	0
(Loss) Earnings before Income Taxes	0	0	0	0
Income tax expense (benefit)	0	0	0	0
Net (Loss) Earnings before Equity in Subsidiaries	0	0	0	0
Equity earnings in subsidiaries	(90.5)	(192.2)	(141.6)	(279.5)
Net (Loss) Earnings	(90.5)	(192.2)	(141.6)	(279.5)
Total Comprehensive Income	$ (89.4)	$ (224.1)	$ (141.6)	$ (306.7)

Condensed Consolidating Finan58

Condensed Consolidating Financial Statements of Guarantors - Consolidated Balance Sheets (Condensed) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
Assets, Current [Abstract]
Cash and cash equivalents	$ 1,484.9	$ 1,143.6	$ 868.2	$ 841.4
Restricted cash	6.2	8.4
Receivables, net	484.3	385
Inventories	513	503.1
Prepaid expenses and other current assets	36.7	36.8
Total Current Assets	2,525.1	2,076.9
Assets, Noncurrent [Abstract]
Property, net	1,345.8	1,354.4
Goodwill	3,125.9	3,079.7
Other intangible assets, net	2,807.2	2,833.7
Intercompany receivable	0	0
Intercompany notes receivable	0	0
Investment in subsidiaries	0	0
Other assets	21.6	15.9
Total Assets	9,825.6	9,360.6
Liabilities, Current [Abstract]
Current portion of long-term debt	4.5	12.3
Accounts payable	210.3	264.4
Other current liabilities	241.6	357.3
Total Current Liabilities	456.4	634
Liabilities, Noncurrent [Abstract]
Long-term debt	5,266	4,551.2
Intercompany payable	0	0
Intercompany notes payable	0	0
Deferred income taxes	814	726.5
Other liabilities	301	440.3
Total Liabilities	6,837.4	6,352
Total Shareholders’ Equity	2,988.2	3,008.6
Total Liabilities and Shareholders’ Equity	9,825.6	9,360.6
Parent Company
Assets, Current [Abstract]
Cash and cash equivalents	1,466.6	1,116.2	817.2	809.6
Restricted cash	1	1
Receivables, net	78.4	31.2
Inventories	0	0
Prepaid expenses and other current assets	6.3	3.5
Total Current Assets	1,552.3	1,151.9
Assets, Noncurrent [Abstract]
Property, net	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Intercompany receivable	1,604.1	1,519.5
Intercompany notes receivable	147	149.1
Investment in subsidiaries	5,979.5	5,843.6
Other assets	13.6	9.3
Total Assets	9,296.5	8,673.4
Liabilities, Current [Abstract]
Current portion of long-term debt	3.8	11
Accounts payable	0.1	0.1
Other current liabilities	54	61.4
Total Current Liabilities	57.9	72.5
Liabilities, Noncurrent [Abstract]
Long-term debt	5,265.8	4,551.2
Intercompany payable	0	0
Intercompany notes payable	0	0
Deferred income taxes	792.7	703.8
Other liabilities	191.9	337.3
Total Liabilities	6,308.3	5,664.8
Total Shareholders’ Equity	2,988.2	3,008.6
Total Liabilities and Shareholders’ Equity	9,296.5	8,673.4
Guarantors
Assets, Current [Abstract]
Cash and cash equivalents	7.4	14.1	30.5	30.5
Restricted cash	4.5	6.7
Receivables, net	363.1	316.9
Inventories	435.2	435.3
Prepaid expenses and other current assets	29.1	31.5
Total Current Assets	839.3	804.5
Assets, Noncurrent [Abstract]
Property, net	1,308.6	1,314.9
Goodwill	2,995.3	2,949
Other intangible assets, net	2,723.1	2,745
Intercompany receivable	0	0
Intercompany notes receivable	0	0
Investment in subsidiaries	20.6	25.6
Other assets	8	6.6
Total Assets	7,894.9	7,845.6
Liabilities, Current [Abstract]
Current portion of long-term debt	0.7	1.3
Accounts payable	199.5	252.9
Other current liabilities	171	278.8
Total Current Liabilities	371.2	533
Liabilities, Noncurrent [Abstract]
Long-term debt	0.2	0
Intercompany payable	1,591.2	1,509.9
Intercompany notes payable	0	0
Deferred income taxes	0	0
Other liabilities	99.7	93.5
Total Liabilities	2,062.3	2,136.4
Total Shareholders’ Equity	5,832.6	5,709.2
Total Liabilities and Shareholders’ Equity	7,894.9	7,845.6
Non-Guarantors
Assets, Current [Abstract]
Cash and cash equivalents	24.8	28.6	27.1	19.2
Restricted cash	0.7	0.7
Receivables, net	50.1	50.6
Inventories	77.8	67.8
Prepaid expenses and other current assets	1.3	1.8
Total Current Assets	154.7	149.5
Assets, Noncurrent [Abstract]
Property, net	37.2	39.5
Goodwill	130.6	130.7
Other intangible assets, net	84.1	88.7
Intercompany receivable	0	0
Intercompany notes receivable	0	0
Investment in subsidiaries	0	0
Other assets	0	0
Total Assets	406.6	408.4
Liabilities, Current [Abstract]
Current portion of long-term debt	0	0
Accounts payable	31.9	40.4
Other current liabilities	16.6	17.1
Total Current Liabilities	48.5	57.5
Liabilities, Noncurrent [Abstract]
Long-term debt	0	0
Intercompany payable	12.9	9.6
Intercompany notes payable	147	149.1
Deferred income taxes	21.3	22.7
Other liabilities	9.4	9.5
Total Liabilities	239.1	248.4
Total Shareholders’ Equity	167.5	160
Total Liabilities and Shareholders’ Equity	406.6	408.4
Eliminations
Assets, Current [Abstract]
Cash and cash equivalents	(13.9)	(15.3)	$ (6.6)	$ (17.9)
Restricted cash	0	0
Receivables, net	(7.3)	(13.7)
Inventories	0	0
Prepaid expenses and other current assets	0	0
Total Current Assets	(21.2)	(29)
Assets, Noncurrent [Abstract]
Property, net	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Intercompany receivable	(1,604.1)	(1,519.5)
Intercompany notes receivable	(147)	(149.1)
Investment in subsidiaries	(6,000.1)	(5,869.2)
Other assets	0	0
Total Assets	(7,772.4)	(7,566.8)
Liabilities, Current [Abstract]
Current portion of long-term debt	0	0
Accounts payable	(21.2)	(29)
Other current liabilities	0	0
Total Current Liabilities	(21.2)	(29)
Liabilities, Noncurrent [Abstract]
Long-term debt	0	0
Intercompany payable	(1,604.1)	(1,519.5)
Intercompany notes payable	(147)	(149.1)
Deferred income taxes	0	0
Other liabilities	0	0
Total Liabilities	(1,772.3)	(1,697.6)
Total Shareholders’ Equity	(6,000.1)	(5,869.2)
Total Liabilities and Shareholders’ Equity	$ (7,772.4)	$ (7,566.8)

Condensed Consolidating Finan59

Condensed Consolidating Financial Statements of Guarantors - Consolidated Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Mar. 31, 2016
Cash Flows from Operating Activities:
Net Cash (Used in) Provided by Operating Activities		$ (26.5)	$ 196.4
Cash Flows from Investing Activities:
Business acquisitions, net of cash acquired		(90.2)	(94.4)
Additions to property		(63.9)	(44.8)
Restricted cash		2.2	10.4
Proceeds from sale of property and assets held for sale		10.3	0.6
Proceeds from sale of businesses		0	6.2
Capitalization of subsidiaries		0	0
Proceeds from equity distributions		0	0
Net receipts (payments) from intercompany revolver			0
Net Cash Used in Investing Activities		(141.6)	(122)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt		1,750	0
Repayments of Long-term Debt		(1,015.9)	(8.1)
Payment of preferred stock dividend		(6.8)	(7.7)
Purchases of treasury stock		(133.1)	0
Payments of debt issuance costs and deferred financing costs		(27.6)	0
Payments of tender premiums on debt extinguishment	$ (67.9)	(67.9)	0
Preferred stock conversion		0	(10.9)
Proceeds from exercise of stock awards		9.4	6.2
Net cash paid in advance for stock repurchase contracts		0	(28.3)
Proceeds from parent capitalization		0	0
Payments of equity distributions		0	0
Net receipts (payments) for intercompany revolver			0
Other, net		1.7	0.3
Net Cash Provided by (Used in) Financing Activities		509.8	(48.5)
Effect of exchange rate changes on cash		(0.4)	0.9
Net Increase in Cash and Cash Equivalents		341.3	26.8
Cash and Cash Equivalents, Beginning of Year		1,143.6	841.4
Cash and Cash Equivalents, End of Period	1,484.9	1,484.9	868.2
Parent Company
Cash Flows from Operating Activities:
Net Cash (Used in) Provided by Operating Activities		(62.4)	80.9
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 and assets held for sale		0	0
Proceeds from sale of businesses			(0.2)
Capitalization of subsidiaries		(107.8)	(123.2)
Proceeds from equity distributions		10.2	89.8
Net receipts (payments) from intercompany revolver			7.7
Net Cash Used in Investing Activities		(97.6)	(25.9)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt		1,750
Repayments of Long-term Debt		(1,015.3)	(7)
Payment of preferred stock dividend		(6.8)	(7.7)
Purchases of treasury stock		(133.1)
Payments of debt issuance costs and deferred financing costs		(27.6)
Payments of tender premiums on debt extinguishment		(67.9)
Preferred stock conversion			(10.9)
Proceeds from exercise of stock awards		9.4	6.2
Net cash paid in advance for stock repurchase contracts			(28.3)
Proceeds from parent capitalization		0	0
Payments of equity distributions		0	0
Net receipts (payments) for intercompany revolver			0
Other, net		1.7	0.3
Net Cash Provided by (Used in) Financing Activities		510.4	(47.4)
Effect of exchange rate changes on cash		0	0
Net Increase in Cash and Cash Equivalents		350.4	7.6
Cash and Cash Equivalents, Beginning of Year		1,116.2	809.6
Cash and Cash Equivalents, End of Period	1,466.6	1,466.6	817.2
Guarantors
Cash Flows from Operating Activities:
Net Cash (Used in) Provided by Operating Activities		138.7	356
Cash Flows from Investing Activities:
Business acquisitions, net of cash acquired		(90.2)	(94.4)
Additions to property		(61.7)	(43.2)
Restricted cash		2.2	10.4
Proceeds from sale of property and assets held for sale		10.3	0.6
Proceeds from sale of businesses			0
Capitalization of subsidiaries		0	0
Proceeds from equity distributions		0	0.2
Net receipts (payments) from intercompany revolver			0
Net Cash Used in Investing Activities		(139.4)	(126.4)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt		0
Repayments of Long-term Debt		(0.6)	(1)
Payment of preferred stock dividend		0	0
Purchases of treasury stock		0
Payments of debt issuance costs and deferred financing costs		0
Payments of tender premiums on debt extinguishment		0
Preferred stock conversion			0
Proceeds from exercise of stock awards		0	0
Net cash paid in advance for stock repurchase contracts			0
Proceeds from parent capitalization		97.6	113.6
Payments of equity distributions		(103)	(342.2)
Net receipts (payments) for intercompany revolver			0
Other, net		0	0
Net Cash Provided by (Used in) Financing Activities		(6)	(229.6)
Effect of exchange rate changes on cash		0	0
Net Increase in Cash and Cash Equivalents		(6.7)	0
Cash and Cash Equivalents, Beginning of Year		14.1	30.5
Cash and Cash Equivalents, End of Period	7.4	7.4	30.5
Non-Guarantors
Cash Flows from Operating Activities:
Net Cash (Used in) Provided by Operating Activities		(1.2)	10.2
Cash Flows from Investing Activities:
Business acquisitions, net of cash acquired		0	0
Additions to property		(2.2)	(1.6)
Restricted cash		0	0
Proceeds from sale of property and assets held for sale		0	0
Proceeds from sale of businesses			6.4
Capitalization of subsidiaries		0	0
Proceeds from equity distributions		0	0
Net receipts (payments) from intercompany revolver			0
Net Cash Used in Investing Activities		(2.2)	4.8
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt		0
Repayments of Long-term Debt		0	(0.1)
Payment of preferred stock dividend		0	0
Purchases of treasury stock		0
Payments of debt issuance costs and deferred financing costs		0
Payments of tender premiums on debt extinguishment		0
Preferred stock conversion			0
Proceeds from exercise of stock awards		0	0
Net cash paid in advance for stock repurchase contracts			0
Proceeds from parent capitalization		10.2	0
Payments of equity distributions		(10.2)	(0.2)
Net receipts (payments) for intercompany revolver			(7.7)
Other, net		0	0
Net Cash Provided by (Used in) Financing Activities		0	(8)
Effect of exchange rate changes on cash		(0.4)	0.9
Net Increase in Cash and Cash Equivalents		(3.8)	7.9
Cash and Cash Equivalents, Beginning of Year		28.6	19.2
Cash and Cash Equivalents, End of Period	24.8	24.8	27.1
Eliminations
Cash Flows from Operating Activities:
Net Cash (Used in) Provided by Operating Activities		(101.6)	(250.7)
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 and assets held for sale		0	0
Proceeds from sale of businesses			0
Capitalization of subsidiaries		107.8	123.2
Proceeds from equity distributions		(10.2)	(90)
Net receipts (payments) from intercompany revolver			(7.7)
Net Cash Used in Investing Activities		97.6	25.5
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt		0
Repayments of Long-term Debt		0	0
Payment of preferred stock dividend		0	0
Purchases of treasury stock		0
Payments of debt issuance costs and deferred financing costs		0
Payments of tender premiums on debt extinguishment		0
Preferred stock conversion			0
Proceeds from exercise of stock awards		0	0
Net cash paid in advance for stock repurchase contracts			0
Proceeds from parent capitalization		(107.8)	(113.6)
Payments of equity distributions		113.2	342.4
Net receipts (payments) for intercompany revolver			7.7
Other, net		0	0
Net Cash Provided by (Used in) Financing Activities		5.4	236.5
Effect of exchange rate changes on cash		0	0
Net Increase in Cash and Cash Equivalents		1.4	11.3
Cash and Cash Equivalents, Beginning of Year		(15.3)	(17.9)
Cash and Cash Equivalents, End of Period	$ (13.9)	$ (13.9)	$ (6.6)

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event £ in Millions, $ in Millions	Apr. 18, 2017GBP (£)	May 08, 2017USD ($)
United Kingdom, Pounds \| Weetabix
Subsequent Events
Payments to Acquire Businesses, Gross \| £	£ 1,400
7.75% Senior Notes
Subsequent Events
Debt Instrument, Interest Rate, Stated Percentage		7.75%
Tender Offer of Senior Notes		$ 800
8.00% Senior Notes
Subsequent Events
Debt Instrument, Interest Rate, Stated Percentage		8.00%
Tender Offer of Senior Notes		$ 400
Term Loan
Subsequent Events
Term Loan		$ 2,000