0001546380-24-000035 | 10-Q | XBRL Viewer

IMPAIRMENT, RESTRUCTURING AND OTHER

9 Months Ended

Jun. 29, 2024

Restructuring and Related Activities [Abstract]

Activity described herein is classified within the “Cost of sales—impairment, restructuring and other” and “Impairment, restructuring and other” lines in the Condensed Consolidated Statements of Operations. The following table details impairment, restructuring and other charges (recoveries) for each of the periods presented:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Cost of sales—impairment, restructuring and other:

Restructuring and other charges (recoveries), net	$	(4.8)	$	28.6	$	59.3	$	134.3
Right-of-use asset impairments	2.3		3.7		3.3		19.1
Property, plant and equipment impairments	—		0.5		4.1		8.4
Operating expenses—impairment, restructuring and other:

Restructuring and other charges (recoveries), net	(0.8)		1.7		(5.9)		32.0

Total impairment, restructuring and other charges (recoveries), net	$	(3.3)	$	34.5	$	60.8	$	193.8

The following table summarizes the activity related to liabilities associated with restructuring activities during the nine months ended June 29, 2024:


Amounts accrued at September 30, 2023	$	40.5
Restructuring charges	6.7

Payments	(24.2)
Amounts accrued at June 29, 2024	$	23.0

As of June 29, 2024, restructuring accruals include $7.3 that is classified as long-term.

During fiscal 2022, the Company began implementing a series of Company-wide organizational changes and initiatives intended to create operational and management-level efficiencies. These changes and initiatives include reducing the size of the supply chain network, reducing staffing levels and implementing other cost-reduction initiatives. During the second quarter of fiscal 2024, the Company commenced plans to close additional Hawthorne distribution centers. The Company has also accelerated the reduction of certain Hawthorne inventory, primarily lighting, growing environments and hardware products, to reduce its on hand inventory to align with the reduced network capacity. During the three months ended June 29, 2024, the Company recorded net recoveries associated with this restructuring initiative that were not material. During the nine months ended June 29, 2024, the Company incurred costs of $69.7 associated with this restructuring initiative primarily related to inventory write-down charges, employee termination benefits, facility closure costs and impairment of right-of-use assets and property, plant and equipment. The Company incurred costs of $3.7 in its U.S. Consumer segment and $62.9 in its Hawthorne segment in the “Cost of sales—impairment, restructuring and other” line in the Condensed Consolidated Statements of Operations during the nine months ended June 29, 2024. The Company recorded recoveries of $1.2 in its U.S. Consumer segment, and incurred costs of $1.0 in its Hawthorne segment, $0.8 in its Other segment and $2.4 at Corporate in the “Impairment, restructuring and other” line in the Condensed Consolidated Statements of Operations during the nine months ended June 29, 2024. Costs incurred from the inception of this restructuring initiative through June 29, 2024 were $288.3 for the Hawthorne segment, $48.1 for the U.S. Consumer segment, $2.3 for the Other segment and $25.1 for Corporate.

During the three and nine months ended July 1, 2023, the Company incurred costs of $34.5 and $185.8, respectively, associated with this restructuring initiative primarily related to inventory write-down charges, employee termination benefits, facility closure costs and impairment of right-of-use assets and property, plant and equipment. The Company incurred costs of $7.1 and $8.2 in its U.S. Consumer segment and $25.7 and $152.6 in its Hawthorne segment in the “Cost of sales—impairment, restructuring and other” line in the Condensed Consolidated Statements of Operations during the three and nine months ended July 1, 2023, respectively. The Company incurred costs of $1.9 and $20.1 in its Hawthorne segment and $0.0 and $4.5 at Corporate in the “Impairment, restructuring and other” line in the Condensed Consolidated Statements of Operations during the three and nine months ended July 1, 2023, respectively.

During the three and nine months ended June 29, 2024, the Company recorded a gain of $0.0 and $12.1, respectively, in the “Impairment, restructuring and other” line in the Condensed Consolidated Statements of Operations associated with a payment received in resolution of a dispute with the former ownership group of a business that was acquired in fiscal 2022. This payment was classified as an operating activity in the Condensed Consolidated Statements of Cash Flows.

FAIR VALUE MEASUREMENTS

9 Months Ended

Jun. 29, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The following table summarizes the fair value of the Company’s assets and liabilities for which disclosure of fair value is required:


	Fair Value Hierarchy Level	June 29, 2024				July 1, 2023				September 30, 2023
		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Cash equivalents	Level 1	$	245.0	$	245.0	$	2.7	$	2.7	$	1.2	$	1.2




Other
Investment securities in non-qualified retirement plan assets	Level 1	32.3		32.3		41.0		41.0		36.3		36.3


Convertible debt investments	Level 3	89.7		89.7		86.5		86.5		85.8		85.8

Liabilities




Debt instruments
Credit facilities – revolving loans	Level 2	—		—		145.1		145.1		88.3		88.3
Credit facilities – term loans	Level 2	887.5		887.5		937.5		937.5		925.0		925.0
Senior Notes due 2031 – 4.000%	Level 2	500.0		431.3		500.0		392.5		500.0		380.0
Senior Notes due 2032 – 4.375%	Level 2	400.0		344.5		400.0		316.0		400.0		304.0
Senior Notes due 2029 – 4.500%	Level 2	450.0		409.5		450.0		389.3		450.0		366.8
Senior Notes due 2026 – 5.250%	Level 2	250.0		243.1		250.0		236.9		250.0		233.1

Receivables facility	Level 2	—		—		398.0		398.0		—		—

Other debt	Level 2	—		—		0.8		0.8		0.4		0.4

Changes in the balance of Level 3 convertible debt investments carried at fair value are presented below. There were no transfers into or out of Level 3.


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Fair value at beginning of period	$	84.5	$	84.8	$	85.8	$	117.0

Total realized / unrealized gains included in net earnings	0.1		1.1		0.3		3.0
Total realized / unrealized gains (losses) included in OCI	5.1		0.6		3.6		(33.5)
Fair value at end of period	$	89.7	$	86.5	$	89.7	$	86.5

The amortized cost basis of convertible debt investments was $226.1, $225.0, and $225.8 at June 29, 2024, July 1, 2023, and September 30, 2023, respectively. At June 29, 2024, July 1, 2023, and September 30, 2023, gross unrealized losses on convertible debt investments were $136.3, $138.5, and $140.0 respectively, and there were no gross unrealized gains. These investments have been in a continuous unrealized loss position for greater than 12 months as of June 29, 2024. The allowance for expected credit losses was $101.3, $0.0 and $101.3 at June 29, 2024, July 1, 2023 and September 30, 2023, respectively. At June 29, 2024, the period until scheduled maturity of the Company’s convertible debt investments was between 3.2 years and 5.2 years.

Convertible debt investments include, among other minority non-equity investments, a six-year convertible note issued to the Company’s wholly-owned subsidiary, The Hawthorne Collective, Inc. (“THC”), by Toronto-based RIV Capital Inc. (“RIV Capital”) (CSE: RIV) (OTC: CNPOF). On May 30, 2024, RIV Capital and Cansortium Inc. (“Cansortium”) (CSE: TIUM.U) (OTCQB: CNTMF) announced they have entered into a definitive agreement pursuant to which Cansortium will acquire all of the issued and outstanding common shares of RIV Capital in exchange for Cansortium shares (the “Transaction”). The closing of the Transaction is subject to various conditions, including shareholder and court approvals, the receipt of all required regulatory approvals, and the exchange of THC’s existing convertible debt investment in RIV Capital for a new class of non-voting exchangeable shares of Cansortium. These exchangeable shares would be convertible, at THC’s discretion, into approximately 23% of the common shares of Cansortium on a pro forma basis as of the closing of the Transaction. Upon the receipt of required shareholder approvals and the completion of certain conditions to closing of the Transaction, the Company may be required to remeasure its convertible debt investment at the fair value of the Cansortium non-voting exchangeable shares expected to be received, which, based on market conditions as of June 29, 2024, would result in the recognition of a non-cash, pre-tax other-than-temporary impairment charge of approximately $70.0 in the “Impairment, restructuring and other” line in the Condensed Consolidated Statements of Operations.

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Outstanding Commodity Contracts (Details)	9 Months Ended		12 Months Ended
	Jun. 29, 2024 T gal	Jul. 01, 2023 T gal	Sep. 30, 2023 T gal
Urea (in tons)
Derivative [Line Items]
Outstanding commodity contracts, mass \| T	33,000	51,000	52,500
Diesel (in gallons)
Derivative [Line Items]
Outstanding commodity contracts, volume	462,000	2,268,000	1,974,000
Heating Oil (in gallons)
Derivative [Line Items]
Outstanding commodity contracts, volume	84,000	1,008,000	966,000

MARKETING AGREEMENT - Net Commission Earned Under Marketing Agreement (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Marketing Agreement [Line Items]
Contribution expenses	$ (850.6)	$ (880.1)	$ (2,191.4)	$ (2,300.7)
Restated Marketing Agreement
Marketing Agreement [Line Items]
Gross commission	31.5	12.3	80.9	70.9
Contribution expenses	(4.5)	(4.5)	(13.5)	(13.5)
Net commission	27.0	7.8	67.4	57.4
Reimbursements associated with Roundup® marketing agreement	27.4	23.5	75.5	65.9
Total net sales associated with Roundup® marketing agreement	$ 54.4	$ 31.3	$ 142.9	$ 123.3

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Income Statement [Abstract]
Net sales	$ 1,202.2	$ 1,118.7	$ 3,138.0	$ 3,176.8
Cost of sales	850.6	880.1	2,191.4	2,300.7
Cost of sales—impairment, restructuring and other	(2.5)	32.7	66.6	161.8
Gross margin	354.1	205.9	880.0	714.3
Operating expenses:
Selling, general and administrative	147.9	128.5	441.4	443.3
Impairment, restructuring and other	(0.8)	1.7	(5.9)	32.0
Other (income) expense, net	6.9	(1.6)	19.6	(2.7)
Income from operations	200.1	77.3	424.9	241.7
Equity in income (loss) of unconsolidated affiliates	23.0	22.2	(6.5)	3.5
Interest expense	38.8	47.1	125.6	138.1
Other non-operating (income) expense, net	1.3	0.4	4.2	(0.2)
Income before income taxes	183.0	52.0	288.6	107.3
Income tax expense	50.9	8.3	79.5	19.0
Net income	$ 132.1	$ 43.7	$ 209.1	$ 88.3
Earnings Per Share, Basic And Diluted EPS [Abstract]
Basic income (loss) per common share (USD per share)	$ 2.33	$ 0.78	$ 3.69	$ 1.58
Diluted income (loss) per common share (USD per share)	$ 2.28	$ 0.77	$ 3.64	$ 1.57
Weighted-average common shares outstanding during the period (in shares)	56.8	56.2	56.7	55.9
Weighted-average common shares outstanding during the period plus dilutive potential common shares (in shares)	58.0	56.6	57.5	56.3

FAIR VALUE MEASUREMENTS - Summary of Fair Value of Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023	Aug. 13, 2021	Mar. 17, 2021	Oct. 22, 2019	Dec. 15, 2016
Senior notes \| 4.000% Senior Notes
Liabilities
Interest rate of debt (percentage)	4.00%	4.00%	4.00%		4.00%
Senior notes \| 4.375% Senior Notes
Liabilities
Interest rate of debt (percentage)	4.375%	4.375%	4.375%	4.375%
Senior notes \| 4.500% Senior Notes
Liabilities
Interest rate of debt (percentage)	4.50%	4.50%	4.50%			4.50%
Senior notes \| 5.250% Senior Notes
Liabilities
Interest rate of debt (percentage)	5.25%	5.25%	5.25%				5.25%
Carrying Amount \| Fair value, inputs, level 1 \| Fair Value, Measurements, Recurring
Assets
Cash equivalents	$ 245.0	$ 1.2	$ 2.7
Carrying Amount \| Fair value, inputs, level 1 \| Fair Value, Measurements, Recurring \| Investment securities in non-qualified retirement plan assets
Assets
Other	32.3	36.3	41.0
Carrying Amount \| Fair value, inputs, level 3 \| Fair Value, Measurements, Recurring \| Convertible debt investments
Assets
Other	89.7	85.8	86.5
Carrying Amount \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Credit facilities \| Revolving loans
Liabilities
Debt instruments	0.0	88.3	145.1
Carrying Amount \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Credit facilities \| Term loans
Liabilities
Debt instruments	887.5	925.0	937.5
Carrying Amount \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Senior notes \| 4.000% Senior Notes
Liabilities
Debt instruments	500.0	500.0	500.0
Carrying Amount \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Senior notes \| 4.375% Senior Notes
Liabilities
Debt instruments	400.0	400.0	400.0
Carrying Amount \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Senior notes \| 4.500% Senior Notes
Liabilities
Debt instruments	450.0	450.0	450.0
Carrying Amount \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Senior notes \| 5.250% Senior Notes
Liabilities
Debt instruments	250.0	250.0	250.0
Carrying Amount \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Receivables facility
Liabilities
Debt instruments	0.0	0.0	398.0
Carrying Amount \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Other debt
Liabilities
Debt instruments	0.0	0.4	0.8
Estimated Fair Value \| Fair value, inputs, level 1 \| Fair Value, Measurements, Recurring
Assets
Cash equivalents	245.0	1.2	2.7
Estimated Fair Value \| Fair value, inputs, level 1 \| Fair Value, Measurements, Recurring \| Investment securities in non-qualified retirement plan assets
Assets
Other	32.3	36.3	41.0
Estimated Fair Value \| Fair value, inputs, level 3 \| Fair Value, Measurements, Recurring \| Convertible debt investments
Assets
Other	89.7	85.8	86.5
Estimated Fair Value \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Credit facilities \| Revolving loans
Liabilities
Debt instruments	0.0	88.3	145.1
Estimated Fair Value \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Credit facilities \| Term loans
Liabilities
Debt instruments	887.5	925.0	937.5
Estimated Fair Value \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Senior notes \| 4.000% Senior Notes
Liabilities
Debt instruments	431.3	380.0	392.5
Estimated Fair Value \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Senior notes \| 4.375% Senior Notes
Liabilities
Debt instruments	344.5	304.0	316.0
Estimated Fair Value \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Senior notes \| 4.500% Senior Notes
Liabilities
Debt instruments	409.5	366.8	389.3
Estimated Fair Value \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Senior notes \| 5.250% Senior Notes
Liabilities
Debt instruments	243.1	233.1	236.9
Estimated Fair Value \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Receivables facility
Liabilities
Debt instruments	0.0	0.0	398.0
Estimated Fair Value \| Fair value, inputs, level 2 \| Fair Value, Measurements, Recurring \| Other debt
Liabilities
Debt instruments	$ 0.0	$ 0.4	$ 0.8

SEGMENT INFORMATION

9 Months Ended

Jun. 29, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company divides its operations into three reportable segments: U.S. Consumer, Hawthorne and Other. U.S. Consumer consists of the Company’s consumer lawn and garden business in the United States. Hawthorne consists of the Company’s indoor and hydroponic gardening business. Other primarily consists of the Company’s consumer lawn and garden business in Canada. This identification of reportable segments is consistent with how the segments report to and are managed by the chief operating decision maker of the Company. In addition, Corporate consists of general and administrative expenses and certain other income and expense items not allocated to the business segments.

The performance of each reportable segment is evaluated based on several factors, including income (loss) before income taxes, amortization, impairment, restructuring and other charges (“Segment Profit (Loss)”). Senior management uses Segment Profit (Loss) to evaluate segment performance because the Company believes this measure is indicative of performance trends and the overall earnings potential of each segment.

The following tables present financial information for the Company’s reportable segments for the periods indicated:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Net Sales:
U.S. Consumer	$	1,017.5	$	916.4	$	2,704.0	$	2,642.7
Hawthorne	67.7		93.4		214.2		317.6
Other	117.0		108.9		219.8		216.5
Consolidated	$	1,202.2	$	1,118.7	$	3,138.0	$	3,176.8

Segment Profit (Loss):
U.S. Consumer	$	210.3	$	124.8	$	580.5	$	553.5
Hawthorne	3.8		(8.7)		(9.2)		(41.7)
Other	11.7		5.8		13.0		21.8
Total Segment Profit	225.8		121.9		584.3		533.6
Corporate	(25.1)		(3.4)		(86.8)		(77.4)
Intangible asset amortization	(3.9)		(6.7)		(11.8)		(20.8)

Impairment, restructuring and other	3.3		(34.5)		(60.8)		(193.7)
Equity in income (loss) of unconsolidated affiliates	23.0		22.2		(6.5)		3.5

Interest expense	(38.8)		(47.1)		(125.6)		(138.1)
Other non-operating income (expense), net	(1.3)		(0.4)		(4.2)		0.2
Income before income taxes	$	183.0	$	52.0	$	288.6	$	107.3

The following table presents net sales by product category for the periods indicated:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

U.S. Consumer:
Growing media and mulch	$	568.5	$	552.9	$	1,232.0	$	1,167.2
Lawn care	203.5		165.0		832.1		844.7
Controls	134.5		113.7		325.0		306.5
Roundup® marketing agreement	53.6		30.7		141.6		121.7
Other, primarily gardening	57.4		54.1		173.3		202.6
Hawthorne:
Nutrients	27.2		27.3		68.4		74.5
Lighting	12.7		20.7		60.7		89.1
Growing media	9.4		17.3		30.8		53.6
Growing environments	7.0		13.1		24.8		54.6
Other, primarily hardware	11.4		15.0		29.5		45.8
Other:
Growing media	46.7		44.3		83.2		84.6
Lawn care	39.9		37.0		73.7		69.3
Other, primarily gardening and controls	30.4		27.6		62.9		62.6
Total net sales	$	1,202.2	$	1,118.7	$	3,138.0	$	3,176.8

The following table presents net sales by geographic area for the periods indicated:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Net sales:
United States	$	1,083.6	$	1,008.3	$	2,891.1	$	2,920.5
International	118.6		110.4		246.9		256.3
	$	1,202.2	$	1,118.7	$	3,138.0	$	3,176.8

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
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-Section 50
-Paragraph 42
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 21
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
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+ Details

LEASES - Supplemental Cash Flow Information and Non-Cash Activity Schedule (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Lease, Cost [Abstract]
Operating cash flows from operating leases, net	$ 74.5	$ 69.8
Operating cash flows from finance leases	0.6	0.6
Financing cash flows from finance leases	1.6	2.2
Right-of-use assets obtained in exchange for lease obligations, operating leases	65.2	67.6
Right-of-use assets obtained in exchange for lease obligations, finance leases	$ 4.5	$ 0.0

INVENTORIES

9 Months Ended

Jun. 29, 2024

Inventory Disclosure [Abstract]

INVENTORIES

Inventories consisted of the following for each of the periods presented:


	June 29, 2024		July 1, 2023		September 30, 2023

Finished goods	$	281.3	$	534.4	$	506.2
Raw materials	250.8		271.3		272.5
Work-in-process	74.7		79.2		101.6
Total inventories, net	$	606.8	$	884.9	$	880.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Jun. 29, 2024

Accounting Policies [Abstract]

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information was as follows:


	Nine Months Ended
	June 29, 2024		July 1, 2023

Interest paid	$	131.6	$	143.3

Income taxes paid (refunded), net	3.7		(15.4)

LEASES - Components of Lease Cost Schedule (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Leases [Abstract]
Operating lease cost	$ 21.5	$ 22.0	$ 63.8	$ 68.1
Variable lease cost	7.6	6.7	23.4	20.3
Amortization of right-of-use assets	0.6	0.5	1.8	2.5
Interest on lease liabilities	0.2	0.2	0.6	0.6
Total finance lease cost	0.8	0.7	2.4	3.1
Operating lease amortization of ROU assets	$ 17.5	$ 20.1	$ 52.2	$ 62.9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Jun. 29, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

The Scotts Miracle-Gro Company (“Scotts Miracle-Gro”) and its subsidiaries (collectively, with Scotts Miracle-Gro, the “Company”) are engaged in the manufacturing, marketing and sale of products for lawn and garden care and indoor and hydroponic gardening. The Company’s products are sold in North America, Europe and Asia.

The Company’s North America consumer lawn and garden business is highly seasonal, with approximately 75% of its annual net sales occurring in the second and third fiscal quarters. The Company’s Hawthorne segment is also impacted by seasonal sales patterns for certain product categories due to the timing of growing patterns in North America during the second and third fiscal quarters, and the timing of certain controlled agricultural lighting project sales during the third and fourth fiscal quarters.

Organization and Basis of Presentation

The Company’s unaudited condensed consolidated financial statements for the three and nine months ended June 29, 2024 and July 1, 2023 are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The condensed consolidated financial statements include the accounts of Scotts Miracle-Gro and its subsidiaries. All intercompany transactions and accounts have been eliminated in consolidation. The Company’s consolidation criteria are based on majority ownership (as evidenced by a majority voting interest in the entity) and an objective evaluation and determination of effective management control. The results of businesses acquired or disposed of are included in the condensed consolidated financial statements from the date of each acquisition or up to the date of disposal, respectively. In the opinion of management, interim results reflect all normal and recurring adjustments and are not necessarily indicative of results for a full year.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted or condensed pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, this Quarterly Report on Form 10-Q for the fiscal quarter ended June 29, 2024 (this “Form 10-Q”) should be read in conjunction with Scotts Miracle-Gro’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023 (the “2023 Annual Report”), which includes a complete set of footnote disclosures, including the Company’s significant accounting policies.

The Company’s Condensed Consolidated Balance Sheet at September 30, 2023 has been derived from the Company’s audited Consolidated Balance Sheet at that date, but does not include all of the information and footnotes required by GAAP for complete financial statements.

Accounts Receivable

On October 27, 2023, the Company entered into a Master Receivables Purchase Agreement (the “Master Receivables Purchase Agreement”), under which it may sell up to $600.0 of available and eligible outstanding customer accounts receivable generated by sales to four specified customers. The agreement is uncommitted and has an initial term that expires October 25, 2024, unless earlier terminated by the purchaser. The receivable sales are non-recourse to the Company, other than with respect to (i) repurchase and indemnification obligations for any violations by the Company of its respective representations or obligations as seller or servicer and (ii) certain repurchase and payment obligations arising from any dilution of, or dispute with respect to, any purchased receivables that arise after the sale of such purchased receivables to the purchaser not contemplated in the applicable purchase price of such purchased receivable. The recourse obligations of the Company that may arise from time to time are supported by standby letters of credit of $70.0. Transactions under this agreement are accounted for as sales of accounts receivable, and the receivables sold are removed from the Condensed Consolidated Balance Sheets at the time of the sales transaction. Proceeds received from the sales of accounts receivable are classified as operating cash flows and collections of previously sold accounts receivable not yet submitted to the buyer are classified as financing cash flows in the Condensed Consolidated Statements of Cash Flows. The Company records the discount on sales in the “Other (income) expense, net” line in the Condensed Consolidated Statements of Operations. At June 29, 2024, net receivables of $477.3 were derecognized. During the three and nine months ended June 29, 2024, proceeds from the sale of receivables under the Master Receivables Purchase Agreement totaled $724.5 and $1,680.0, respectively, and the total discount recorded on sales was $8.7 and $21.6, respectively.

Supplier Finance Program

The Company has an agreement to provide a supplier finance program which facilitates participating suppliers’ ability to finance payment obligations of the Company with a designated third-party financial institution. Participating suppliers may, at their sole discretion, elect to finance payment obligations of the Company prior to their scheduled due dates at a discounted price to the participating financial institution. The Company’s obligations to its suppliers, including amounts due and scheduled payment dates, are not impacted by suppliers’ decisions to finance amounts under this arrangement. The payment terms that the Company negotiates with its suppliers are consistent, regardless of whether a supplier participates in the program. The Company’s current payment terms with a majority of its suppliers generally range from 30 to 60 days, which the Company deems to be commercially reasonable. The Company’s outstanding payment obligations under its supplier finance program were $22.8, $16.6 and $18.3 at June 29, 2024, July 1, 2023 and September 30, 2023, respectively, and are recorded within accounts payable in the Condensed Consolidated Balance Sheets. The associated payments were $218.6 and $157.6 for the nine months ended June 29, 2024 and July 1, 2023, respectively, and are classified as operating activities in the Condensed Consolidated Statements of Cash Flows.

Long-Lived Assets

The Company had non-cash investing activities of $4.5 and $7.6 during the nine months ended June 29, 2024 and July 1, 2023, respectively, representing unpaid liabilities to acquire property, plant and equipment.

Statements of Cash Flows

Supplemental cash flow information was as follows:


	Nine Months Ended
	June 29, 2024		July 1, 2023

Interest paid	$	131.6	$	143.3

Income taxes paid (refunded), net	3.7		(15.4)

Cash flow from operating activities for the nine months ended July 1, 2023 was impacted by extended payment terms with vendors for payments originally due in the final weeks of fiscal 2022 that were paid in the first quarter of fiscal 2023. The Company also received proceeds of $37.0 during the nine months ended July 1, 2023 related to the payoff of seller financing that the Company provided in connection with a fiscal 2017 divestiture, which was classified as an investing activity in the Condensed Consolidated Statements of Cash Flows.

RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS

In September 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2022-04, “Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” This ASU requires disclosure of the key terms of outstanding supplier finance programs and a roll-forward of the related obligations. ASU No. 2022-04 is effective for fiscal years beginning after December 15, 2022, except for the amendment on roll-forward information, which is effective for fiscal years beginning after December 15, 2023. The Company adopted the ASU as of October 1, 2023. The adoption relates to disclosures only and does not have any impact on the Company’s consolidated financial position, results of operations or cash flows.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU requires enhanced disclosures about significant segment expenses regularly provided to the chief operating decision maker that are included within each reported measure of segment profit or loss, and also requires all annual disclosures currently required by Topic 280 to be included in interim periods. ASU No. 2023-07 is to be applied retrospectively for all periods presented in the financial statements and is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on the Company’s disclosures.

In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This ASU primarily requires enhanced disclosures and disaggregation of income tax information by jurisdiction in the annual income tax reconciliation and quantitative and qualitative disclosures regarding income taxes paid. ASU No. 2023-09 is to be applied prospectively, with the option to apply the standard retrospectively, effective for fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact that the adoption of this guidance will have on the Company’s disclosures.

EARNINGS PER COMMON SHARE - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Earnings Per Share [Abstract]
Weighted-average common shares outstanding during the period plus dilutive potential common shares (in shares)	58.0	56.6	57.5	56.3

DEBT

9 Months Ended

Jun. 29, 2024

Debt Disclosure [Abstract]

DEBT

The components of debt are as follows:


	June 29, 2024		July 1, 2023		September 30, 2023

Credit Facilities:
Revolving loans	$	—	$	145.1	$	88.3
Term loans	887.5		937.5		925.0
Senior Notes due 2031 – 4.000%	500.0		500.0		500.0
Senior Notes due 2032 – 4.375%	400.0		400.0		400.0
Senior Notes due 2029 – 4.500%	450.0		450.0		450.0
Senior Notes due 2026 – 5.250%	250.0		250.0		250.0

Receivables facility	—		398.0		—
Finance lease obligations	19.7		17.4		16.9
Other	—		0.8		0.4
Total debt	2,507.2		3,098.8		2,630.6
Less current portions	52.9		450.7		52.3
Less unamortized debt issuance costs	17.9		19.3		20.9
Long-term debt	$	2,436.4	$	2,628.8	$	2,557.4

Credit Facilities

On April 8, 2022, the Company entered into a sixth amended and restated credit agreement (the “Sixth A&R Credit Agreement”), providing the Company and certain of its subsidiaries with five-year senior secured loan facilities in the aggregate principal amount of $2,500.0, comprised of a revolving credit facility of $1,500.0 and a term loan in the original principal amount of $1,000.0 (the “Sixth A&R Credit Facilities”). The Sixth A&R Credit Agreement will terminate on April 8, 2027. The Sixth A&R Credit Facilities are available for the issuance of letters of credit up to $100.0. The terms of the Sixth A&R Credit Agreement include customary representations and warranties, affirmative and negative covenants, financial covenants, and events of default.

Under the terms of the Sixth A&R Credit Agreement, loans bear interest, at the Company’s election, at a rate per annum equal to either (i) the Alternate Base Rate plus the Applicable Spread (each, as defined in the Sixth A&R Credit Agreement) or (ii) the Adjusted Term SOFR Rate for the Interest Period in effect for such borrowing plus the Applicable Spread (all as defined in the Sixth A&R Credit Agreement). Swingline Loans bear interest at the applicable Swingline Rate set forth in the Sixth A&R Credit Agreement. Interest rates for other select non-U.S. dollar borrowings, including borrowings denominated in euro, Pounds Sterling and Canadian dollars, are based on separate interest rate indices, as set forth in the Sixth A&R Credit Agreement.

On June 8, 2022, the Company entered into Amendment No. 1 to the Sixth A&R Credit Agreement (“Amendment No. 1”). Amendment No. 1 increased the maximum permitted leverage ratio for the quarterly leverage covenant until April 1, 2024. Amendment No. 1 also increased the interest rate applicable to borrowings under the revolving credit facility by 35 bps and the term loan facility by 50 bps, and increased the annual facility fee rate on the revolving credit facility by 15 bps, in each case, when the Company’s quarterly-tested leverage ratio exceeded 4.75.

On July 31, 2023, the Company entered into Amendment No. 2 to the Sixth A&R Credit Agreement (“Amendment No. 2”). Amendment No. 2 (i) reduces the revolving loan commitments by $250.0; (ii) increases the maximum permitted leverage ratio for the quarterly leverage covenant until the earlier of (a) October 1, 2025 and (b) subject to certain conditions specified in Amendment No. 2, the termination by the Company of such adjustment (such period, the “Leverage Adjustment Period”); (iii) replaces the interest coverage covenant with a fixed charge coverage covenant; (iv) increases the interest rate applicable to borrowings under the revolving credit facility and the term loan facility by 25 bps for each existing pricing tier and adds a pricing tier applicable to periods when the leverage ratio exceeds 6.00; (v) limits the amount of certain incremental investments, loans and advances to $25.0 during the Leverage Adjustment Period; and (vi) adds the Company’s intellectual property (subject to certain exceptions) as collateral to secure its obligations under the Sixth A&R Credit Agreement. Additionally, Amendment No. 2 limits the Company’s ability to declare or pay any discretionary dividends, distributions or other restricted payments during the Leverage Adjustment Period to only the payment of (i) regularly scheduled cash dividends to holders of its Common Shares in an aggregate amount not to exceed $225.0 per fiscal year and (ii) other dividends, distributions or other restricted payments in an aggregate amount not to exceed $25.0. Amendment No. 2 also subjects the Company’s ability to make certain investments to pro forma compliance with certain leverage levels specified in Amendment No. 2. Pursuant to Amendment No. 2, the Sixth A&R Credit Agreement is secured by (i) a perfected first priority security interest in all of the accounts receivable, inventory, equipment and intellectual property (subject to certain exceptions) of Scotts Miracle-Gro and certain of its domestic subsidiaries and (ii) the pledge of all of the capital stock of certain of Scotts Miracle-Gro’s domestic subsidiaries and a portion of the capital stock of certain of its foreign subsidiaries.

At June 29, 2024, the Company had letters of credit outstanding in the aggregate principal amount of $78.0, and had $1,172.0 of borrowing availability under the Sixth A&R Credit Agreement. The weighted average interest rates on average borrowings under the credit facilities, excluding the impact of interest rate swaps, were 9.0% and 7.3% for the nine months ended June 29, 2024 and July 1, 2023, respectively.

On August 6, 2024, the Company used available cash on hand to make a repayment on the term loan of the Sixth A&R Credit Agreement in the amount of $200.0, which was applied to the outstanding principal amount.

The Sixth A&R Credit Agreement contains, among other obligations, an affirmative covenant regarding the Company’s leverage ratio determined as of the end of each of its fiscal quarters, calculated as average total indebtedness, divided by the Company’s earnings before interest, taxes, depreciation and amortization, as adjusted pursuant to the terms of Amendment No. 2 (“Adjusted EBITDA”). Pursuant to Amendment No. 2, the maximum permitted leverage ratio is (i) 6.50 for the third quarter of fiscal 2024, (ii) 6.00 for the fourth quarter of fiscal 2024, (iii) 5.50 for the first quarter of fiscal 2025, (iv) 5.25 for the second quarter of fiscal 2025, (v) 5.00 for the third quarter of fiscal 2025, (vi) 4.75 for the fourth quarter of fiscal 2025 and (vii) 4.50 for the first quarter of fiscal 2026 and thereafter. The Company’s leverage ratio was 5.46 at June 29, 2024. Pursuant to Amendment No. 2, the Sixth A&R Credit Agreement also contains an affirmative covenant regarding the Company’s fixed charge coverage ratio determined as of the end of each of its fiscal quarters, calculated as Adjusted EBITDA minus capital expenditures and expense for taxes paid in cash, divided by the sum of interest expense plus restricted payments, as described in Amendment No. 2. The minimum required fixed charge coverage ratio is (i) 0.75 for the third quarter of fiscal 2024 and (ii) 1.00 for the fourth quarter of fiscal 2024 and thereafter. The Company’s fixed charge coverage ratio was 1.15 for the twelve months ended June 29, 2024.

As of June 29, 2024, the Company was in compliance with all applicable covenants in the agreements governing its debt. Based on the Company’s projections of its financial performance for the twelve-month period subsequent to the date of the filing of this Form 10-Q, the Company expects to remain in compliance with the financial covenants under the Sixth A&R Credit Agreement. However, the Company’s assessment of its ability to meet its future obligations is inherently subjective, judgment-based, and susceptible to change based on future events. A covenant violation may result in an event of default. Such a default would allow the lenders under the Sixth A&R Credit Agreement to accelerate the maturity of the indebtedness thereunder and would also implicate cross-default provisions under the Senior Notes, as defined below, and cause the Senior Notes to become due and payable at that time. As of June 29, 2024, the Company’s indebtedness under the Sixth A&R Credit Agreement and Senior Notes was $2,487.5. The Company does not have sufficient cash on hand or available liquidity that can be utilized to repay these outstanding amounts in the event of default.

As part of its contingency planning to address potential future circumstances that could result in noncompliance, the Company has contemplated alternative plans including additional restructuring activities to reduce operating expenses and certain cash management strategies that are within the Company’s control. Additionally, the Company has contemplated alternative plans that are subject to market conditions and not in the Company’s control, including, among others, discussions with its lenders to amend the terms of its financial covenants under the Sixth A&R Credit Agreement and generating cash by completing other financing transactions, which may include issuing equity. There is no assurance that the Company will be successful in implementing these alternative plans.

Senior Notes

On December 15, 2016, Scotts Miracle-Gro issued $250.0 aggregate principal amount of 5.250% Senior Notes due 2026 (the “5.250% Senior Notes”). The 5.250% Senior Notes represent general unsecured senior obligations and rank equal in right of payment with the Company’s existing and future unsecured senior debt. The 5.250% Senior Notes have interest payment dates of June 15 and December 15 of each year.

On October 22, 2019, Scotts Miracle-Gro issued $450.0 aggregate principal amount of 4.500% Senior Notes due 2029 (the “4.500% Senior Notes”). The 4.500% Senior Notes represent general unsecured senior obligations and rank equal in right of payment with the Company’s existing and future unsecured senior debt. The 4.500% Senior Notes have interest payment dates of April 15 and October 15 of each year.

On March 17, 2021, Scotts Miracle-Gro issued $500.0 aggregate principal amount of 4.000% Senior Notes due 2031 (the “4.000% Senior Notes”). The 4.000% Senior Notes represent general unsecured senior obligations and rank equal in right of payment with the Company’s existing and future unsecured senior debt. The 4.000% Senior Notes have interest payment dates of April 1 and October 1 of each year.

On August 13, 2021, Scotts Miracle-Gro issued $400.0 aggregate principal amount of 4.375% Senior Notes due 2032 (the “4.375% Senior Notes”). The 4.375% Senior Notes represent general unsecured senior obligations and rank equal in right of payment with the Company’s existing and future unsecured senior debt. The 4.375% Senior Notes have interest payment dates of February 1 and August 1 of each year.

Substantially all of Scotts Miracle-Gro’s directly and indirectly owned domestic subsidiaries serve as guarantors of the 5.250% Senior Notes, the 4.500% Senior Notes, the 4.000% Senior Notes and the 4.375% Senior Notes.

The Senior Notes contain an affirmative covenant regarding the Company’s interest coverage ratio determined as of the end of each of its fiscal quarters, calculated as Adjusted EBITDA divided by interest expense excluding costs related to refinancings. The minimum required interest coverage ratio is 2.00. The Company’s interest coverage ratio was 3.15 for the twelve months ended June 29, 2024.

Receivables Facility

On April 7, 2017, the Company entered into a Master Repurchase Agreement (including the annexes thereto, the “Repurchase Agreement”) and a Master Framework Agreement, as amended (the “Framework Agreement” and, together with the Repurchase Agreement, the “Receivables Facility”), under which the Company could sell a portfolio of available and eligible outstanding customer accounts receivable to the purchasers subject to agreeing to repurchase the receivables on a weekly basis. The eligible accounts receivable consisted of accounts receivable generated by sales to three specified customers. The eligible amount of customer accounts receivables which could be sold under the Receivables Facility was $400.0 and the commitment amount during the seasonal commitment period that began on February 24, 2023 and ended on June 16, 2023 was $160.0. The Receivables Facility expired on August 18, 2023.

The sale of receivables under the Receivables Facility was accounted for as short-term debt and the Company continued to carry the receivables on its Condensed Consolidated Balance Sheets, primarily as a result of its requirement to repurchase receivables sold. As of July 1, 2023, there were $398.0 in borrowings on receivables pledged as collateral under the Receivables Facility, and the carrying value of the receivables pledged as collateral was $442.2.

Interest Rate Swap Agreements

The Company enters into interest rate swap agreements with major financial institutions that effectively convert a portion of the Company’s variable-rate debt to a fixed rate. Interest payments made between the effective date and expiration date are hedged by the swap agreements. Swap agreements that were hedging interest payments as of June 29, 2024, July 1, 2023 and September 30, 2023 had a maximum total U.S. dollar equivalent notional amount of $500.0, $600.0 and $600.0, respectively. The notional amount, effective date, expiration date and rate of each of the swap agreements outstanding at June 29, 2024 are shown in the table below:


Notional Amount ($)		Effective Date (a)	Expiration Date	Fixed Rate
200		6/7/2023	6/8/2026	0.80	%
150		6/7/2023	4/7/2027	3.37	%
50		6/7/2023	4/7/2027	3.34	%
100	(b)	11/20/2023	3/22/2027	4.74	%
150	(b)	9/20/2024	9/20/2029	4.25	%

(a)The effective date refers to the date on which interest payments are first hedged by the applicable swap agreement.

(b)Notional amount adjusts in accordance with a specified seasonal schedule. This represents the maximum notional amount at any point in time.

Weighted Average Interest Rate

The weighted average interest rates on the Company’s debt, including the impact of interest rate swaps, were 5.9% and 5.3% for the nine months ended June 29, 2024 and July 1, 2023, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
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+ Details

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effect of Derivative Instruments on AOCI and Statements of Operations (Details) - Fair value, inputs, level 2 - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain / (Loss) Recognized in Earnings	$ (0.6)	$ (3.9)	$ (5.5)	$ (19.6)
Not Designated as Hedging Instrument \| Commodity hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain / (Loss) Recognized in Earnings	$ (0.5)	$ (1.0)	$ (1.9)	$ (0.1)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of sales	Cost of sales	Cost of sales	Cost of sales
Not Designated as Hedging Instrument \| Currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain / (Loss) Recognized in Earnings	$ (0.1)	$ (2.9)	$ (3.6)	$ (19.5)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain / (Loss) Recognized in AOCL	$ 1.2	$ 7.2	$ (0.9)	$ (2.4)
Amount of Gain / (Loss) Reclassified From AOCI Into Earnings	3.8	3.2	6.2	15.1
Cash Flow Hedging \| Interest rate swap agreements
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain / (Loss) Recognized in AOCL	1.2	8.0	0.6	7.3
Amount of Gain / (Loss) Reclassified From AOCI Into Earnings	$ 3.7	$ 3.9	$ 10.4	$ 9.0
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest expense	Interest expense	Interest expense	Interest expense
Cash Flow Hedging \| Commodity hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain / (Loss) Recognized in AOCL	$ 0.0	$ (0.8)	$ (1.5)	$ (9.7)
Amount of Gain / (Loss) Reclassified From AOCI Into Earnings	$ 0.1	$ (0.7)	$ (4.2)	$ 6.1
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of sales	Cost of sales	Cost of sales	Cost of sales

EQUITY - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	$ 5.4	$ 13.0	$ 1.6	$ (25.8)
Amounts reclassified from accumulated other comprehensive net income (loss)	(4.3)	(5.1)	(8.0)	(25.4)
Income tax benefit (expense)	0.7	(1.3)	2.3	15.2
Total other comprehensive income (loss)	1.8	6.6	(4.1)	(35.9)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity beginning balance	(118.6)	(187.1)	(112.8)	(144.6)
Total other comprehensive income (loss)	1.8	6.6
Equity ending balance	(116.9)	(180.5)	(116.9)	(180.5)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity beginning balance	(21.4)	(20.7)	(21.9)	(28.9)
Other comprehensive income (loss) before reclassifications	(1.3)	2.7	(0.8)	10.9
Amounts reclassified from accumulated other comprehensive net income (loss)	0.0	0.0	0.0	0.0
Income tax benefit (expense)	0.0	0.0	0.0	0.0
Total other comprehensive income (loss)	(1.3)	2.7	(0.8)	10.9
Equity ending balance	(22.6)	(18.0)	(22.6)	(18.0)
Net Unrealized Gain (Loss) On Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity beginning balance	15.7	11.8	20.1	33.3
Other comprehensive income (loss) before reclassifications	1.6	9.7	(1.2)	(3.2)
Amounts reclassified from accumulated other comprehensive net income (loss)	(5.1)	(4.3)	(8.3)	(20.3)
Income tax benefit (expense)	0.9	(1.4)	2.4	5.9
Total other comprehensive income (loss)	(2.6)	4.0	(7.1)	(17.5)
Equity ending balance	13.1	15.8	13.1	15.8
Net Unrealized Gain (Loss) On Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity beginning balance	(40.1)	(105.7)	(38.6)	(79.7)
Other comprehensive income (loss) before reclassifications	5.1	0.6	3.6	(33.5)
Amounts reclassified from accumulated other comprehensive net income (loss)	0.0	0.0	0.0	0.0
Income tax benefit (expense)	0.0	(0.1)	0.0	8.0
Total other comprehensive income (loss)	5.1	0.5	3.6	(25.5)
Equity ending balance	(35.0)	(105.2)	(35.0)	(105.2)
Pension and Other Post-Retirement Benefit Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity beginning balance	(72.9)	(72.6)	(72.4)	(69.3)
Other comprehensive income (loss) before reclassifications	0.0	0.0	0.0	0.0
Amounts reclassified from accumulated other comprehensive net income (loss)	0.8	(0.8)	0.3	(5.1)
Income tax benefit (expense)	(0.2)	0.2	(0.1)	1.3
Total other comprehensive income (loss)	0.6	(0.6)	0.2	(3.8)
Equity ending balance	$ (72.3)	$ (73.2)	$ (72.3)	$ (73.2)

FAIR VALUE MEASUREMENTS - Rollforward (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized / unrealized gains (losses) included in OCI	$ 5.4	$ 13.0	$ 1.6	$ (25.8)
Net Unrealized Gain (Loss) On Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized / unrealized gains (losses) included in OCI	5.1	0.6	3.6	(33.5)
Fair value, inputs, level 3 \| Fair Value, Measurements, Recurring \| Convertible debt investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized / unrealized gains included in net earnings	0.1	1.1	0.3	3.0
Fair value, inputs, level 3 \| Fair Value, Measurements, Recurring \| Convertible debt investments \| Net Unrealized Gain (Loss) On Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized / unrealized gains (losses) included in OCI	5.1	0.6	3.6	(33.5)
Fair value, inputs, level 3 \| Estimated Fair Value \| Fair Value, Measurements, Recurring \| Convertible debt investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at beginning of period	84.5	84.8	85.8	117.0
Fair value at end of period	$ 89.7	$ 86.5	$ 89.7	$ 86.5

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

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+ Details

EARNINGS PER COMMON SHARE

9 Months Ended

Jun. 29, 2024

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE

The following table presents information necessary to calculate basic and diluted net income per Common Share for the periods indicated:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023



Net income	$	132.1	$	43.7	$	209.1	$	88.3


Basic net income per common share
Weighted-average common shares outstanding during the period	56.8		56.2		56.7		55.9
Basic net income per common share	$	2.33	$	0.78	$	3.69	$	1.58


Diluted net income per common share
Weighted-average common shares outstanding during the period	56.8		56.2		56.7		55.9
Dilutive potential common shares	1.2		0.4		0.8		0.4
Weighted-average common shares outstanding during the period plus dilutive potential common shares	58.0		56.6		57.5		56.3


Diluted net income per common share	$	2.28	$	0.77	$	3.64	$	1.57

Antidilutive stock options outstanding	0.2		0.2		0.4		0.4

Cover Page - shares	9 Months Ended
Cover Page - shares	Jun. 29, 2024	Aug. 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2024
Document Transition Report	false
Entity File Number	001-11593
Entity Registrant Name	Scotts Miracle-Gro Co
Entity Central Index Key	0000825542
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-1414921
Entity Address, Address Line One	14111 Scottslawn Road,
Entity Address, City or Town	Marysville,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43041
City Area Code	937
Local Phone Number	644-0011
Title of 12(b) Security	Common Shares, $0.01 stated value
Trading Symbol	SMG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		56,821,100

DEBT - Interest Rate Swap Agreements (Details) - USD ($) $ in Millions	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023
Instrument 1
Derivative [Line Items]
Derivative, notional amount	$ 200.0
Fixed Rate	0.80%
Instrument 2
Derivative [Line Items]
Derivative, notional amount	$ 150.0
Fixed Rate	3.37%
Instrument 3
Derivative [Line Items]
Derivative, notional amount	$ 50.0
Fixed Rate	3.34%
Instrument 4
Derivative [Line Items]
Derivative, notional amount	$ 100.0
Fixed Rate	4.74%
Instrument 5
Derivative [Line Items]
Derivative, notional amount	$ 150.0
Fixed Rate	4.25%
Derivatives designated as hedging instruments \| Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	$ 500.0	$ 600.0	$ 600.0

EQUITY - Performance-Based Awards, Additional Information (Details) - Performance-based awards $ in Millions	Jun. 29, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation liability	$ 14.0
Compensation cost related to nonvested performance-based awards	$ 5.9

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

LEASES - Maturities of Lease Liabilities by Fiscal Year Schedule (Details) - USD ($) $ in Millions	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023
Operating Leases
2024 (remainder of the year)	$ 24.0
2025	86.9
2026	71.0
2027	47.0
2028	36.9
Thereafter	88.3
Total lease payments	354.1
Less: Imputed interest	(52.1)
Total lease liabilities	302.0	$ 296.5	$ 294.1
Finance Leases
2024 (remainder of the year)	0.9
2025	3.7
2026	3.3
2027	2.9
2028	2.5
Thereafter	10.5
Total lease payments	23.8
Less: Imputed interest	(4.1)
Total lease liabilities	$ 19.7	$ 16.9	$ 17.4

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023
Current assets:
Cash and cash equivalents	$ 279.9	$ 31.9	$ 27.4
Accounts receivable, less allowances of $12.7, $22.3 and $15.1, respectively	504.6	304.2	717.7
Accounts receivable pledged	0.0	0.0	442.2
Inventories	606.8	880.3	884.9
Prepaid and other current assets	147.1	181.4	178.8
Total current assets	1,538.4	1,397.8	2,251.0
Investment in unconsolidated affiliates	106.8	91.9	196.5
Property, plant and equipment, net of accumulated depreciation of $805.6, $805.3 and $765.4, respectively	599.0	610.3	590.3
Goodwill	243.9	243.9	254.5
Intangible assets, net	424.9	436.7	560.2
Other assets	576.3	633.1	601.9
Total assets	3,489.3	3,413.7	4,454.4
Current liabilities:
Current portion of debt	52.9	52.3	450.7
Accounts payable	316.7	271.2	365.7
Other current liabilities	484.8	450.2	512.7
Total current liabilities	854.4	773.7	1,329.1
Long-term debt	2,436.4	2,557.4	2,628.8
Other liabilities	344.7	349.9	361.7
Total liabilities	3,635.5	3,681.0	4,319.6
Commitments and contingencies
Equity (deficit):
Common shares and capital in excess of $0.01 stated value per share; shares outstanding of 56.8, 56.1 and 56.5, respectively	360.6	353.1	350.5
Retained earnings	585.8	490.9	996.8
Treasury shares, at cost; 11.4, 12.0 and 11.6 shares, respectively	(975.7)	(998.5)	(1,032.0)
Accumulated other comprehensive loss	(116.9)	(112.8)	(180.5)
Total equity (deficit)	(146.2)	(267.3)	134.8
Total liabilities and equity (deficit)	$ 3,489.3	$ 3,413.7	$ 4,454.4

LEASES - Supplemental Balance Sheet Information Schedule (Details) - USD ($) $ in Millions	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023
Leases [Abstract]
Operating lease right-of-use-assets	$ 276.8	$ 262.6	$ 266.2
Operating lease current lease liabilities	73.9	76.4	77.7
Operating lease non-current lease liabilities	228.1	220.1	216.4
Total operating lease liabilities	302.0	296.5	294.1
Finance lease right-of-use assets	17.1	14.5	15.2
Finance lease current lease liabilities	2.9	1.9	1.9
Finance lease non-current lease liabilities	16.8	15.0	15.5
Total finance lease liabilities	$ 19.7	$ 16.9	$ 17.4

DEBT (Tables)

9 Months Ended

Jun. 29, 2024

Debt Disclosure [Abstract]

Components of Long-Term Debt

The components of debt are as follows:


	June 29, 2024		July 1, 2023		September 30, 2023

Credit Facilities:
Revolving loans	$	—	$	145.1	$	88.3
Term loans	887.5		937.5		925.0
Senior Notes due 2031 – 4.000%	500.0		500.0		500.0
Senior Notes due 2032 – 4.375%	400.0		400.0		400.0
Senior Notes due 2029 – 4.500%	450.0		450.0		450.0
Senior Notes due 2026 – 5.250%	250.0		250.0		250.0

Receivables facility	—		398.0		—
Finance lease obligations	19.7		17.4		16.9
Other	—		0.8		0.4
Total debt	2,507.2		3,098.8		2,630.6
Less current portions	52.9		450.7		52.3
Less unamortized debt issuance costs	17.9		19.3		20.9
Long-term debt	$	2,436.4	$	2,628.8	$	2,557.4

Schedule of Interest Rate Swap Agreements

The notional amount, effective date, expiration date and rate of each of the swap agreements outstanding at June 29, 2024 are shown in the table below:


Notional Amount ($)		Effective Date (a)	Expiration Date	Fixed Rate
200		6/7/2023	6/8/2026	0.80	%
150		6/7/2023	4/7/2027	3.37	%
50		6/7/2023	4/7/2027	3.34	%
100	(b)	11/20/2023	3/22/2027	4.74	%
150	(b)	9/20/2024	9/20/2029	4.25	%

(a)The effective date refers to the date on which interest payments are first hedged by the applicable swap agreement.

(b)Notional amount adjusts in accordance with a specified seasonal schedule. This represents the maximum notional amount at any point in time.

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

LEASES

9 Months Ended

Jun. 29, 2024

Leases [Abstract]

LEASES

The Company leases certain property and equipment from third parties under various non-cancelable lease agreements, including industrial, commercial and office properties and equipment that support the management, manufacturing, distribution and research and development of products marketed and sold by the Company. The lease agreements generally require that the Company pay taxes, insurance and maintenance expenses related to the leased assets. At June 29, 2024, the Company had entered into operating leases that were yet to commence with a combined total expected lease liability of $25.2. From time to time, the Company will sublease portions of its facilities, resulting in sublease income. Sublease income and the related cash flows were not material to the condensed consolidated financial statements for the three and nine months ended June 29, 2024 and July 1, 2023.

The Company leases certain vehicles (primarily cars and light trucks) under agreements that are cancellable after the first year, but typically continue on a month-to-month basis until canceled by the Company. The vehicle leases and certain other non-cancelable operating leases contain residual value guarantees that create a contingent obligation on the part of the Company to compensate the lessor if the leased asset cannot be sold for an amount in excess of a specified minimum value at the conclusion of the lease term. If all such vehicle leases had been canceled as of June 29, 2024, the Company’s residual value guarantee would have approximated $5.2.

Supplemental balance sheet information related to the Company’s leases was as follows:


	Balance Sheet Location	June 29, 2024		July 1, 2023		September 30, 2023

Operating leases:
Right-of-use assets	Other assets	$	276.8	$	266.2	$	262.6

Current lease liabilities	Other current liabilities	73.9		77.7		76.4
Non-current lease liabilities	Other liabilities	228.1		216.4		220.1
Total operating lease liabilities		$	302.0	$	294.1	$	296.5

Finance leases:
Right-of-use assets	Property, plant and equipment, net	$	17.1	$	15.2	$	14.5

Current lease liabilities	Current portion of debt	2.9		1.9		1.9
Non-current lease liabilities	Long-term debt	16.8		15.5		15.0
Total finance lease liabilities		$	19.7	$	17.4	$	16.9

Components of lease cost were as follows:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Operating lease cost (a)	$	21.5	$	22.0	$	63.8	$	68.1
Variable lease cost	7.6		6.7		23.4		20.3


Finance lease cost
Amortization of right-of-use assets	0.6		0.5		1.8		2.5
Interest on lease liabilities	0.2		0.2		0.6		0.6
Total finance lease cost	$	0.8	$	0.7	$	2.4	$	3.1

(a)Operating lease cost includes amortization of right-of-use assets of $17.5 and $52.2 for the three and nine months ended June 29, 2024, respectively, and $20.1 and $62.9 for the three and nine months ended July 1, 2023, respectively. Short-term lease expense is excluded from operating lease cost and is not material.

Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows:


	Nine Months Ended
		June 29, 2024		July 1, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net		$	74.5	$	69.8
Operating cash flows from finance leases		0.6		0.6
Financing cash flows from finance leases		1.6		2.2

Right-of-use assets obtained in exchange for lease obligations:
Operating leases		$	65.2	$	67.6
Finance leases		4.5		—

Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:


	June 29, 2024		July 1, 2023		September 30, 2023
Weighted-average remaining lease term (in years):
Operating leases	5.3		4.6		5.4
Finance leases	8.0		9.6		9.5

Weighted-average discount rate:
Operating leases	5.9	%	4.1	%	5.2	%
Finance leases	4.8	%	4.4	%	4.4	%

Maturities of lease liabilities by fiscal year for the Company’s leases as of June 29, 2024 were as follows:


Year	Operating Leases		Finance Leases
2024 (remainder of the year)	$	24.0	$	0.9
2025	86.9		3.7
2026	71.0		3.3
2027	47.0		2.9
2028	36.9		2.5
Thereafter	88.3		10.5
Total lease payments	354.1		23.8
Less: Imputed interest	(52.1)		(4.1)
Total lease liabilities	$	302.0	$	19.7

LEASES

Supplemental balance sheet information related to the Company’s leases was as follows:


	Balance Sheet Location	June 29, 2024		July 1, 2023		September 30, 2023

Operating leases:
Right-of-use assets	Other assets	$	276.8	$	266.2	$	262.6

Current lease liabilities	Other current liabilities	73.9		77.7		76.4
Non-current lease liabilities	Other liabilities	228.1		216.4		220.1
Total operating lease liabilities		$	302.0	$	294.1	$	296.5

Finance leases:
Right-of-use assets	Property, plant and equipment, net	$	17.1	$	15.2	$	14.5

Current lease liabilities	Current portion of debt	2.9		1.9		1.9
Non-current lease liabilities	Long-term debt	16.8		15.5		15.0
Total finance lease liabilities		$	19.7	$	17.4	$	16.9

Components of lease cost were as follows:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Operating lease cost (a)	$	21.5	$	22.0	$	63.8	$	68.1
Variable lease cost	7.6		6.7		23.4		20.3


Finance lease cost
Amortization of right-of-use assets	0.6		0.5		1.8		2.5
Interest on lease liabilities	0.2		0.2		0.6		0.6
Total finance lease cost	$	0.8	$	0.7	$	2.4	$	3.1

Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows:


	Nine Months Ended
		June 29, 2024		July 1, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net		$	74.5	$	69.8
Operating cash flows from finance leases		0.6		0.6
Financing cash flows from finance leases		1.6		2.2

Right-of-use assets obtained in exchange for lease obligations:
Operating leases		$	65.2	$	67.6
Finance leases		4.5		—

Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:


	June 29, 2024		July 1, 2023		September 30, 2023
Weighted-average remaining lease term (in years):
Operating leases	5.3		4.6		5.4
Finance leases	8.0		9.6		9.5

Weighted-average discount rate:
Operating leases	5.9	%	4.1	%	5.2	%
Finance leases	4.8	%	4.4	%	4.4	%

Maturities of lease liabilities by fiscal year for the Company’s leases as of June 29, 2024 were as follows:


Year	Operating Leases		Finance Leases
2024 (remainder of the year)	$	24.0	$	0.9
2025	86.9		3.7
2026	71.0		3.3
2027	47.0		2.9
2028	36.9		2.5
Thereafter	88.3		10.5
Total lease payments	354.1		23.8
Less: Imputed interest	(52.1)		(4.1)
Total lease liabilities	$	302.0	$	19.7

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Jun. 29, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring Basis

The following table summarizes the fair value of the Company’s assets and liabilities for which disclosure of fair value is required:


	Fair Value Hierarchy Level	June 29, 2024				July 1, 2023				September 30, 2023
		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Cash equivalents	Level 1	$	245.0	$	245.0	$	2.7	$	2.7	$	1.2	$	1.2




Other
Investment securities in non-qualified retirement plan assets	Level 1	32.3		32.3		41.0		41.0		36.3		36.3


Convertible debt investments	Level 3	89.7		89.7		86.5		86.5		85.8		85.8

Liabilities




Debt instruments
Credit facilities – revolving loans	Level 2	—		—		145.1		145.1		88.3		88.3
Credit facilities – term loans	Level 2	887.5		887.5		937.5		937.5		925.0		925.0
Senior Notes due 2031 – 4.000%	Level 2	500.0		431.3		500.0		392.5		500.0		380.0
Senior Notes due 2032 – 4.375%	Level 2	400.0		344.5		400.0		316.0		400.0		304.0
Senior Notes due 2029 – 4.500%	Level 2	450.0		409.5		450.0		389.3		450.0		366.8
Senior Notes due 2026 – 5.250%	Level 2	250.0		243.1		250.0		236.9		250.0		233.1

Receivables facility	Level 2	—		—		398.0		398.0		—		—

Other debt	Level 2	—		—		0.8		0.8		0.4		0.4

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

Changes in the balance of Level 3 convertible debt investments carried at fair value are presented below. There were no transfers into or out of Level 3.


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Fair value at beginning of period	$	84.5	$	84.8	$	85.8	$	117.0

Total realized / unrealized gains included in net earnings	0.1		1.1		0.3		3.0
Total realized / unrealized gains (losses) included in OCI	5.1		0.6		3.6		(33.5)
Fair value at end of period	$	89.7	$	86.5	$	89.7	$	86.5

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

LEASES - Weighted-Average Remaining Lease Term and Discount Rate Schedule (Details)	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023
Leases [Abstract]
Operating leases, weighted average remaining term (in years)	5 years 3 months 18 days	5 years 4 months 24 days	4 years 7 months 6 days
Finance leases, weighted average remaining term (in years)	8 years	9 years 6 months	9 years 7 months 6 days
Operating leases, weighted average discount rate (percent)	5.90%	5.20%	4.10%
Finance leases, weighted average discount rate (percent)	4.80%	4.40%	4.40%

EQUITY (Tables)

9 Months Ended

Jun. 29, 2024

Equity [Abstract]

Summary of Changes in Equity (Deficit)

The following tables provide a summary of the changes in equity (deficit) for each of the periods indicated:


	Common Shares and Capital in Excess of Stated Value		Retained Earnings		Treasury Shares		Accumulated Other Comprehensive Loss		Total Equity (Deficit)
Balance at September 30, 2023	$	353.1	$	490.9	$	(998.5)	$	(112.8)	$	(267.3)

Net income (loss)	—		(80.5)		—		—		(80.5)
Other comprehensive income (loss)	—		—		—		(8.9)		(8.9)
Share-based compensation	11.7		—		—		—		11.7
Dividends declared ($0.66 per share)	—		(38.0)		—		—		(38.0)
Treasury share purchases	—		—		(3.1)		—		(3.1)
Treasury share issuances	(15.2)		—		15.9		—		0.7



Balance at December 30, 2023	349.6		372.4		(985.7)		(121.7)		(385.4)

Net income (loss)	—		157.5		—		—		157.5
Other comprehensive income (loss)	—		—		—		3.0		3.0
Share-based compensation	12.4		—		—		—		12.4
Dividends declared ($0.66 per share)	—		(38.1)		—		—		(38.1)
Treasury share purchases	—		—		(1.7)		—		(1.7)
Treasury share issuances	(8.3)		—		9.6		—		1.3

Balance at March 30, 2024	353.7		491.8		(977.8)		(118.6)		(250.9)
Net income (loss)	—		132.1		—		—		132.1
Other comprehensive income (loss)	—		—		—		1.8		1.8
Share-based compensation	8.3		—		—		—		8.3
Dividends declared ($0.66 per share)	—		(38.1)		—		—		(38.1)
Treasury share purchases	—		—		(0.2)		—		(0.2)
Treasury share issuances	(1.4)		—		2.2		—		0.8

Balance at June 29, 2024	$	360.6	$	585.8	$	(975.7)	$	(116.9)	$	(146.2)

The sum of the components may not equal due to rounding.


	Common Shares and Capital in Excess of Stated Value		Retained Earnings		Treasury Shares		Accumulated Other Comprehensive Loss		Total Equity (Deficit)
Balance at September 30, 2022	$	364.0	$	1,020.1	$	(1,091.8)	$	(144.6)	$	147.7

Net income (loss)	—		(64.7)		—		—		(64.7)
Other comprehensive income (loss)	—		—		—		(24.6)		(24.6)
Share-based compensation	20.8		—		—		—		20.8
Dividends declared ($0.66 per share)	—		(37.5)		—		—		(37.5)
Treasury share purchases	—		—		(0.8)		—		(0.8)
Treasury share issuances	(17.2)		—		35.9		—		18.7



Balance at December 31, 2022	367.6		917.9		(1,056.7)		(169.3)		59.5
Net income (loss)	—		109.4		—		—		109.4
Other comprehensive income (loss)	—		—		—		(17.8)		(17.8)
Share-based compensation	37.2		—		—		—		37.2
Dividends declared ($0.66 per share)	—		(37.0)		—		—		(37.0)
Treasury share purchases	—		—		(5.6)		—		(5.6)
Treasury share issuances	(30.4)		—		22.3		—		(8.1)

Balance at April 1, 2023	374.3		990.3		(1,040.0)		(187.1)		137.5
Net income (loss)	—		43.7		—		—		43.7
Other comprehensive income (loss)	—		—		—		6.6		6.6
Share-based compensation	(5.8)		—		—		—		(5.8)
Dividends declared ($0.66 per share)	—		(37.2)		—		—		(37.2)
Treasury share purchases	—		—		(2.8)		—		(2.8)
Treasury share issuances	(18.0)		—		10.8		—		(7.2)
Balance at July 1, 2023	$	350.5	$	996.8	$	(1,032.0)	$	(180.5)	$	134.8

The sum of the components may not equal due to rounding.

Schedule of Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss (“AOCL”) by component were as follows for each of the periods indicated:


	Three Months Ended
	Foreign Currency Translation Adjustments		Net Unrealized Gain (Loss) On Derivative Instruments		Net Unrealized Gain (Loss) On Securities		Pension and Other Post-Retirement Benefit Adjustments		Accumulated Other Comprehensive Income (Loss)
Balance at March 30, 2024	$	(21.4)	$	15.7	$	(40.1)	$	(72.9)	$	(118.6)
Other comprehensive income (loss) before reclassifications	(1.3)		1.6		5.1		—		5.4
Amounts reclassified from accumulated other comprehensive net income (loss)	—		(5.1)		—		0.8		(4.3)
Income tax benefit (expense)	—		0.9		—		(0.2)		0.7
Net current period other comprehensive income (loss)	(1.3)		(2.6)		5.1		0.6		1.8
Balance at June 29, 2024	$	(22.6)	$	13.1	$	(35.0)	$	(72.3)	$	(116.9)

Balance at April 1, 2023	$	(20.7)	$	11.8	$	(105.7)	$	(72.6)	$	(187.1)
Other comprehensive income (loss) before reclassifications	2.7		9.7		0.6		—		13.0
Amounts reclassified from accumulated other comprehensive net income (loss)	—		(4.3)		—		(0.8)		(5.1)
Income tax benefit (expense)	—		(1.4)		(0.1)		0.2		(1.3)
Net current period other comprehensive income (loss)	2.7		4.0		0.5		(0.6)		6.6
Balance at July 1, 2023	$	(18.0)	$	15.8	$	(105.2)	$	(73.2)	$	(180.5)

The sum of the components may not equal due to rounding.


	Nine Months Ended
	Foreign Currency Translation Adjustments		Net Unrealized Gain (Loss) On Derivative Instruments		Net Unrealized Gain (Loss) On Securities		Pension and Other Post-Retirement Benefit Adjustments		Accumulated Other Comprehensive Income (Loss)
Balance at September 30, 2023	$	(21.9)	$	20.1	$	(38.6)	$	(72.4)	$	(112.8)
Other comprehensive income (loss) before reclassifications	(0.8)		(1.2)		3.6		—		1.6
Amounts reclassified from accumulated other comprehensive net income (loss)	—		(8.3)		—		0.3		(8.0)
Income tax benefit (expense)	—		2.4		—		(0.1)		2.3
Net current period other comprehensive income (loss)	(0.8)		(7.1)		3.6		0.2		(4.1)
Balance at June 29, 2024	$	(22.6)	$	13.1	$	(35.0)	$	(72.3)	$	(116.9)

Balance at September 30, 2022	$	(28.9)	$	33.3	$	(79.7)	$	(69.3)	$	(144.6)
Other comprehensive income (loss) before reclassifications	10.9		(3.2)		(33.5)		—		(25.8)
Amounts reclassified from accumulated other comprehensive net income (loss)	—		(20.3)		—		(5.1)		(25.4)
Income tax benefit (expense)	—		5.9		8.0		1.3		15.2
Net current period other comprehensive income (loss)	10.9		(17.5)		(25.5)		(3.8)		(35.9)
Balance at July 1, 2023	$	(18.0)	$	15.8	$	(105.2)	$	(73.2)	$	(180.5)

The sum of the components may not equal due to rounding.

Schedule of Share-Based Compensation

Total share-based compensation was as follows for each of the periods indicated:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Share-based compensation	$	21.0	$	(5.8)	$	65.0	$	52.2
Related tax benefit recognized	4.5		0.6		11.7		11.4

IMPAIRMENT, RESTRUCTURING AND OTHER - Activity Related to Liabilities Associated with Restructuring (Details) $ in Millions	9 Months Ended
	Jun. 29, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Amounts accrued for restructuring and other, beginning balance	$ 40.5
Restructuring charges	6.7
Payments	(24.2)
Amounts accrued for restructuring and other, ending balance	$ 23.0

INVENTORIES (Details) - USD ($) $ in Millions	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 281.3	$ 506.2	$ 534.4
Raw materials	250.8	272.5	271.3
Work-in-process	74.7	101.6	79.2
Total inventories, net	$ 606.8	$ 880.3	$ 884.9

SEGMENT INFORMATION (Tables)

9 Months Ended

Jun. 29, 2024

Segment Reporting [Abstract]

Summary of Segment Financial Information

The following tables present financial information for the Company’s reportable segments for the periods indicated:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Net Sales:
U.S. Consumer	$	1,017.5	$	916.4	$	2,704.0	$	2,642.7
Hawthorne	67.7		93.4		214.2		317.6
Other	117.0		108.9		219.8		216.5
Consolidated	$	1,202.2	$	1,118.7	$	3,138.0	$	3,176.8

Segment Profit (Loss):
U.S. Consumer	$	210.3	$	124.8	$	580.5	$	553.5
Hawthorne	3.8		(8.7)		(9.2)		(41.7)
Other	11.7		5.8		13.0		21.8
Total Segment Profit	225.8		121.9		584.3		533.6
Corporate	(25.1)		(3.4)		(86.8)		(77.4)
Intangible asset amortization	(3.9)		(6.7)		(11.8)		(20.8)

Impairment, restructuring and other	3.3		(34.5)		(60.8)		(193.7)
Equity in income (loss) of unconsolidated affiliates	23.0		22.2		(6.5)		3.5

Interest expense	(38.8)		(47.1)		(125.6)		(138.1)
Other non-operating income (expense), net	(1.3)		(0.4)		(4.2)		0.2
Income before income taxes	$	183.0	$	52.0	$	288.6	$	107.3

The following table presents net sales by product category for the periods indicated:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

U.S. Consumer:
Growing media and mulch	$	568.5	$	552.9	$	1,232.0	$	1,167.2
Lawn care	203.5		165.0		832.1		844.7
Controls	134.5		113.7		325.0		306.5
Roundup® marketing agreement	53.6		30.7		141.6		121.7
Other, primarily gardening	57.4		54.1		173.3		202.6
Hawthorne:
Nutrients	27.2		27.3		68.4		74.5
Lighting	12.7		20.7		60.7		89.1
Growing media	9.4		17.3		30.8		53.6
Growing environments	7.0		13.1		24.8		54.6
Other, primarily hardware	11.4		15.0		29.5		45.8
Other:
Growing media	46.7		44.3		83.2		84.6
Lawn care	39.9		37.0		73.7		69.3
Other, primarily gardening and controls	30.4		27.6		62.9		62.6
Total net sales	$	1,202.2	$	1,118.7	$	3,138.0	$	3,176.8

The following table presents net sales by geographic area for the periods indicated:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Net sales:
United States	$	1,083.6	$	1,008.3	$	2,891.1	$	2,920.5
International	118.6		110.4		246.9		256.3
	$	1,202.2	$	1,118.7	$	3,138.0	$	3,176.8

SEGMENT INFORMATION - Net Sales, Profit (Loss), and Assets by Segment (Details) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)	Jun. 29, 2024 USD ($) segment	Jul. 01, 2023 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment			3
Segment Reporting Information [Line Items]
Net sales	$ 1,202.2	$ 1,118.7	$ 3,138.0	$ 3,176.8
Impairment, restructuring and other	0.8	(1.7)	5.9	(32.0)
Equity in income (loss) of unconsolidated affiliates	23.0	22.2	(6.5)	3.5
Interest expense	(38.8)	(47.1)	(125.6)	(138.1)
Other non-operating income (expense), net	(1.3)	(0.4)	(4.2)	0.2
Continuing Operations
Segment Reporting Information [Line Items]
Income before income taxes	183.0	52.0	288.6	107.3
Intangible asset amortization	(3.9)	(6.7)	(11.8)	(20.8)
Impairment, restructuring and other	3.3	(34.5)	(60.8)	(193.7)
Equity in income (loss) of unconsolidated affiliates	23.0	22.2	(6.5)	3.5
Interest expense	(38.8)	(47.1)	(125.6)	(138.1)
Other non-operating income (expense), net	(1.3)	(0.4)	(4.2)	0.2
Continuing Operations \| Operating Segments
Segment Reporting Information [Line Items]
Income before income taxes	225.8	121.9	584.3	533.6
Continuing Operations \| Corporate
Segment Reporting Information [Line Items]
Income before income taxes	(25.1)	(3.4)	(86.8)	(77.4)
U.S. Consumer
Segment Reporting Information [Line Items]
Net sales	1,017.5	916.4	2,704.0	2,642.7
U.S. Consumer \| Growing media and mulch
Segment Reporting Information [Line Items]
Net sales	568.5	552.9	1,232.0	1,167.2
U.S. Consumer \| Continuing Operations \| Operating Segments
Segment Reporting Information [Line Items]
Income before income taxes	210.3	124.8	580.5	553.5
Hawthorne
Segment Reporting Information [Line Items]
Net sales	67.7	93.4	214.2	317.6
Hawthorne \| Growing environments
Segment Reporting Information [Line Items]
Net sales	7.0	13.1	24.8	54.6
Hawthorne \| Continuing Operations \| Operating Segments
Segment Reporting Information [Line Items]
Income before income taxes	3.8	(8.7)	(9.2)	(41.7)
Other
Segment Reporting Information [Line Items]
Net sales	117.0	108.9	219.8	216.5
Other \| Continuing Operations \| Operating Segments
Segment Reporting Information [Line Items]
Income before income taxes	$ 11.7	$ 5.8	$ 13.0	$ 21.8

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Jun. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Management regularly evaluates the Company’s contingencies, including various judicial and administrative proceedings and claims arising in the ordinary course of business, including product and general liabilities, workers’ compensation, property losses and other liabilities for which the Company is self-insured or retains a high exposure limit. Self-insurance accruals are established based on actuarial loss estimates for specific individual claims plus actuarially estimated amounts for incurred but not reported claims and adverse development factors applied to existing claims. Legal costs incurred in connection with the resolution of claims, lawsuits and other contingencies generally are expensed as incurred. In the opinion of management, the assessment of contingencies is reasonable and related accruals are adequate, both individually and in the aggregate; however, there can be no assurance that final resolution of these matters will not have a material effect on the Company’s financial condition, results of operations or cash flows. Regulatory Matters At June 29, 2024, the Company had recorded liabilities of $2.5 for environmental actions, the majority of which are for site remediation. The Company believes that the amounts accrued are adequate to cover such known environmental exposures based on current facts and estimates of likely outcomes. Although it is reasonably possible that the costs to resolve such known environmental exposures will exceed the amounts accrued, any variation from accrued amounts is not expected to be material. Other The Company has been named as a defendant in a number of cases alleging injuries that the lawsuits claim resulted from exposure to asbestos-containing products, apparently based on the Company’s historic use of vermiculite in certain of its products. In many of these cases, the complaints are not specific about the plaintiffs’ contacts with the Company or its products. The cases vary, but complaints in these cases generally seek unspecified monetary damages (actual, compensatory, consequential and punitive) from multiple defendants. The Company believes that the claims against it are without merit and is vigorously defending against them. No accruals have been recorded in the Company’s condensed consolidated financial statements as the likelihood of a loss is not probable at this time; and the Company does not believe a reasonably possible loss would be material to, nor does it expect the ultimate resolution of these cases will have a material adverse effect on, the Company’s financial condition, results of operations or cash flows. There can be no assurance that future developments related to pending claims or claims filed in the future, whether as a result of adverse outcomes or as a result of significant defense costs, will not have a material effect on the Company’s financial condition, results of operations or cash flows. On June 6, 2024, a purported shareholder filed a lawsuit in the United States District Court for the Southern District of Ohio (Case No. 2:24-cv-03132) on behalf of a proposed class of purchasers of the Company’s Common Shares between November 3, 2021, and August 1, 2023. On July 26, 2024, another purported shareholder filed a lawsuit in the United States District Court for the Southern District of Ohio (Case No. 2:24-cv-03766) on behalf of a proposed class of purchasers of the Company’s Common Shares between June 2, 2021, and August 1, 2023. These lawsuits, which will likely be consolidated with any subsequently filed lawsuits alleging similar facts, assert claims under Section 10(b), Rule 10b-5 and Section 20(a) of the Securities Exchange Act against the Company and certain of its current and former officers based on alleged misstatements about the Company’s inventories, sales and business prospects. The actions seek, among other things, unspecified monetary damages, reasonable costs and expenses and equitable/injunctive or other relief as deemed appropriate by the Court. The Company believes that the claims asserted are without merit and intends to vigorously defend the actions. On July 3, 2024, a purported shareholder filed a shareholder derivative lawsuit in the United States District Court for the Southern District of Ohio (Case No. 2:24-cv-03636), purportedly on behalf of the Company against certain of the Company’s current and former officers and directors. On July 30, 2024, another purported shareholder filed a shareholder derivative lawsuit in the United States District Court for the Southern District of Ohio (Case No. 1:24-cv-00402), purportedly on behalf of the Company against certain of the Company’s current and former officers and directors. These lawsuits, which will likely be consolidated with any subsequently filed lawsuits alleging similar facts, include allegations that generally mirror those asserted in the securities lawsuits described above and assert claims for breaches of fiduciary duties and unjust enrichment, as well as abuse of control, gross mismanagement, waste of corporate assets, violations under Section 10(b), Rule 10b-5 and Section 20(a) of the Securities Exchange Act, and contribution under Sections 10(b) and 21D of the Securities Exchange Act. The actions seek a judgment in favor of the Company for damages in an unspecified amount, disgorgement, interest, and costs and expenses, including attorneys’ and experts’ fees. The Company is involved in other lawsuits and claims which arise in the normal course of business. These claims individually and in the aggregate are not expected to result in a material effect on the Company’s financial condition, results of operations or cash flows.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 720
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-Name Accounting Standards Codification
-Section 50
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+ Details

INCOME TAXES (Details)	9 Months Ended
INCOME TAXES (Details)	Jun. 29, 2024	Jul. 01, 2023
Income Tax Examination [Line Items]
Effective tax rate related to continuing operations	27.50%	17.70%

IMPAIRMENT, RESTRUCTURING AND OTHER (Tables)

9 Months Ended

Jun. 29, 2024

Restructuring and Related Activities [Abstract]

Schedules of Impairment, Restructuring and Other Charges, and Activity Related to Liabilities

The following table details impairment, restructuring and other charges (recoveries) for each of the periods presented:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Cost of sales—impairment, restructuring and other:

Restructuring and other charges (recoveries), net	$	(4.8)	$	28.6	$	59.3	$	134.3
Right-of-use asset impairments	2.3		3.7		3.3		19.1
Property, plant and equipment impairments	—		0.5		4.1		8.4
Operating expenses—impairment, restructuring and other:

Restructuring and other charges (recoveries), net	(0.8)		1.7		(5.9)		32.0

Total impairment, restructuring and other charges (recoveries), net	$	(3.3)	$	34.5	$	60.8	$	193.8

The following table summarizes the activity related to liabilities associated with restructuring activities during the nine months ended June 29, 2024:


Amounts accrued at September 30, 2023	$	40.5
Restructuring charges	6.7

Payments	(24.2)
Amounts accrued at June 29, 2024	$	23.0

DEBT - Senior Notes (Details) - Senior notes - USD ($) $ in Millions	Mar. 17, 2021	Oct. 22, 2019	Dec. 15, 2016	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023	Aug. 13, 2021
Debt Instrument [Line Items]
Interest coverage ratio				2.00
Debt Instrument, Covenant, Interest Coverage Ratio				3.15
5.250% Senior Notes
Debt Instrument [Line Items]
Interest rate of debt (percentage)			5.25%	5.25%	5.25%	5.25%
Proceeds from issuance of unsecured debt			$ 250.0
4.500% Senior Notes
Debt Instrument [Line Items]
Interest rate of debt (percentage)		4.50%		4.50%	4.50%	4.50%
Proceeds from issuance of unsecured debt		$ 450.0
4.000% Senior Notes
Debt Instrument [Line Items]
Interest rate of debt (percentage)	4.00%			4.00%	4.00%	4.00%
Proceeds from issuance of unsecured debt	$ 500.0
4.375% Senior Notes
Debt Instrument [Line Items]
Interest rate of debt (percentage)				4.375%	4.375%	4.375%	4.375%
Principal amount of debt							$ 400.0

SEGMENT INFORMATION - Net Sales by Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,202.2	$ 1,118.7	$ 3,138.0	$ 3,176.8
United States
Segment Reporting Information [Line Items]
Net sales	1,083.6	1,008.3	2,891.1	2,920.5
International
Segment Reporting Information [Line Items]
Net sales	$ 118.6	$ 110.4	$ 246.9	$ 256.3

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INVENTORIES (Tables)

9 Months Ended

Jun. 29, 2024

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories consisted of the following for each of the periods presented:


	June 29, 2024		July 1, 2023		September 30, 2023

Finished goods	$	281.3	$	534.4	$	506.2
Raw materials	250.8		271.3		272.5
Work-in-process	74.7		79.2		101.6
Total inventories, net	$	606.8	$	884.9	$	880.3

CONTINGENCIES (Details) $ in Millions	Jun. 29, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Accrual for environmental actions	$ (2.5)

IMPAIRMENT, RESTRUCTURING AND OTHER - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		33 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, long-term	$ 7.3		$ 7.3		$ 7.3
Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges and adjustments		$ 34.5		$ 185.8
Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges and adjustments			69.7
U.S. Consumer
Restructuring Cost and Reserve [Line Items]
Restructuring charges and adjustments		7.1		8.2	48.1
Hawthorne
Restructuring Cost and Reserve [Line Items]
Restructuring charges and adjustments					288.3
Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges and adjustments			0.8		2.3
Corporate Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges and adjustments		0.0	2.4	4.5
Corporate Segment \| Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges and adjustments					$ 25.1
Cost of sales—impairment, restructuring and other \| U.S. Consumer
Restructuring Cost and Reserve [Line Items]
Restructuring charges and adjustments			3.7
Cost of sales—impairment, restructuring and other \| Hawthorne
Restructuring Cost and Reserve [Line Items]
Restructuring charges and adjustments		25.7	62.9	152.6
Impairment, Restructuring, And Other \| U.S. Consumer
Restructuring Cost and Reserve [Line Items]
Restructuring charges and adjustments			(1.2)
Impairment, Restructuring, And Other \| Hawthorne
Restructuring Cost and Reserve [Line Items]
Restructuring charges and adjustments		$ 1.9	1.0	$ 20.1
Restructuring, Settlement And Impairment Provisions
Restructuring Cost and Reserve [Line Items]
Gain (loss) on resolution of dispute	$ 0.0		$ 12.1

EQUITY

9 Months Ended

Jun. 29, 2024

Equity [Abstract]

EQUITY (DEFICIT)

The following tables provide a summary of the changes in equity (deficit) for each of the periods indicated:


	Common Shares and Capital in Excess of Stated Value		Retained Earnings		Treasury Shares		Accumulated Other Comprehensive Loss		Total Equity (Deficit)
Balance at September 30, 2023	$	353.1	$	490.9	$	(998.5)	$	(112.8)	$	(267.3)

Net income (loss)	—		(80.5)		—		—		(80.5)
Other comprehensive income (loss)	—		—		—		(8.9)		(8.9)
Share-based compensation	11.7		—		—		—		11.7
Dividends declared ($0.66 per share)	—		(38.0)		—		—		(38.0)
Treasury share purchases	—		—		(3.1)		—		(3.1)
Treasury share issuances	(15.2)		—		15.9		—		0.7



Balance at December 30, 2023	349.6		372.4		(985.7)		(121.7)		(385.4)

Net income (loss)	—		157.5		—		—		157.5
Other comprehensive income (loss)	—		—		—		3.0		3.0
Share-based compensation	12.4		—		—		—		12.4
Dividends declared ($0.66 per share)	—		(38.1)		—		—		(38.1)
Treasury share purchases	—		—		(1.7)		—		(1.7)
Treasury share issuances	(8.3)		—		9.6		—		1.3

Balance at March 30, 2024	353.7		491.8		(977.8)		(118.6)		(250.9)
Net income (loss)	—		132.1		—		—		132.1
Other comprehensive income (loss)	—		—		—		1.8		1.8
Share-based compensation	8.3		—		—		—		8.3
Dividends declared ($0.66 per share)	—		(38.1)		—		—		(38.1)
Treasury share purchases	—		—		(0.2)		—		(0.2)
Treasury share issuances	(1.4)		—		2.2		—		0.8

Balance at June 29, 2024	$	360.6	$	585.8	$	(975.7)	$	(116.9)	$	(146.2)

The sum of the components may not equal due to rounding.


	Common Shares and Capital in Excess of Stated Value		Retained Earnings		Treasury Shares		Accumulated Other Comprehensive Loss		Total Equity (Deficit)
Balance at September 30, 2022	$	364.0	$	1,020.1	$	(1,091.8)	$	(144.6)	$	147.7

Net income (loss)	—		(64.7)		—		—		(64.7)
Other comprehensive income (loss)	—		—		—		(24.6)		(24.6)
Share-based compensation	20.8		—		—		—		20.8
Dividends declared ($0.66 per share)	—		(37.5)		—		—		(37.5)
Treasury share purchases	—		—		(0.8)		—		(0.8)
Treasury share issuances	(17.2)		—		35.9		—		18.7



Balance at December 31, 2022	367.6		917.9		(1,056.7)		(169.3)		59.5
Net income (loss)	—		109.4		—		—		109.4
Other comprehensive income (loss)	—		—		—		(17.8)		(17.8)
Share-based compensation	37.2		—		—		—		37.2
Dividends declared ($0.66 per share)	—		(37.0)		—		—		(37.0)
Treasury share purchases	—		—		(5.6)		—		(5.6)
Treasury share issuances	(30.4)		—		22.3		—		(8.1)

Balance at April 1, 2023	374.3		990.3		(1,040.0)		(187.1)		137.5
Net income (loss)	—		43.7		—		—		43.7
Other comprehensive income (loss)	—		—		—		6.6		6.6
Share-based compensation	(5.8)		—		—		—		(5.8)
Dividends declared ($0.66 per share)	—		(37.2)		—		—		(37.2)
Treasury share purchases	—		—		(2.8)		—		(2.8)
Treasury share issuances	(18.0)		—		10.8		—		(7.2)
Balance at July 1, 2023	$	350.5	$	996.8	$	(1,032.0)	$	(180.5)	$	134.8

The sum of the components may not equal due to rounding.

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss (“AOCL”) by component were as follows for each of the periods indicated:


	Three Months Ended
	Foreign Currency Translation Adjustments		Net Unrealized Gain (Loss) On Derivative Instruments		Net Unrealized Gain (Loss) On Securities		Pension and Other Post-Retirement Benefit Adjustments		Accumulated Other Comprehensive Income (Loss)
Balance at March 30, 2024	$	(21.4)	$	15.7	$	(40.1)	$	(72.9)	$	(118.6)
Other comprehensive income (loss) before reclassifications	(1.3)		1.6		5.1		—		5.4
Amounts reclassified from accumulated other comprehensive net income (loss)	—		(5.1)		—		0.8		(4.3)
Income tax benefit (expense)	—		0.9		—		(0.2)		0.7
Net current period other comprehensive income (loss)	(1.3)		(2.6)		5.1		0.6		1.8
Balance at June 29, 2024	$	(22.6)	$	13.1	$	(35.0)	$	(72.3)	$	(116.9)

Balance at April 1, 2023	$	(20.7)	$	11.8	$	(105.7)	$	(72.6)	$	(187.1)
Other comprehensive income (loss) before reclassifications	2.7		9.7		0.6		—		13.0
Amounts reclassified from accumulated other comprehensive net income (loss)	—		(4.3)		—		(0.8)		(5.1)
Income tax benefit (expense)	—		(1.4)		(0.1)		0.2		(1.3)
Net current period other comprehensive income (loss)	2.7		4.0		0.5		(0.6)		6.6
Balance at July 1, 2023	$	(18.0)	$	15.8	$	(105.2)	$	(73.2)	$	(180.5)

The sum of the components may not equal due to rounding.


	Nine Months Ended
	Foreign Currency Translation Adjustments		Net Unrealized Gain (Loss) On Derivative Instruments		Net Unrealized Gain (Loss) On Securities		Pension and Other Post-Retirement Benefit Adjustments		Accumulated Other Comprehensive Income (Loss)
Balance at September 30, 2023	$	(21.9)	$	20.1	$	(38.6)	$	(72.4)	$	(112.8)
Other comprehensive income (loss) before reclassifications	(0.8)		(1.2)		3.6		—		1.6
Amounts reclassified from accumulated other comprehensive net income (loss)	—		(8.3)		—		0.3		(8.0)
Income tax benefit (expense)	—		2.4		—		(0.1)		2.3
Net current period other comprehensive income (loss)	(0.8)		(7.1)		3.6		0.2		(4.1)
Balance at June 29, 2024	$	(22.6)	$	13.1	$	(35.0)	$	(72.3)	$	(116.9)

Balance at September 30, 2022	$	(28.9)	$	33.3	$	(79.7)	$	(69.3)	$	(144.6)
Other comprehensive income (loss) before reclassifications	10.9		(3.2)		(33.5)		—		(25.8)
Amounts reclassified from accumulated other comprehensive net income (loss)	—		(20.3)		—		(5.1)		(25.4)
Income tax benefit (expense)	—		5.9		8.0		1.3		15.2
Net current period other comprehensive income (loss)	10.9		(17.5)		(25.5)		(3.8)		(35.9)
Balance at July 1, 2023	$	(18.0)	$	15.8	$	(105.2)	$	(73.2)	$	(180.5)

The sum of the components may not equal due to rounding.

Share-Based Awards

Total share-based compensation was as follows for each of the periods indicated:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Share-based compensation	$	21.0	$	(5.8)	$	65.0	$	52.2
Related tax benefit recognized	4.5		0.6		11.7		11.4

During the three months ended July 1, 2023, a cumulative adjustment was recognized to share-based compensation expense for certain performance-based award units to reflect management’s assessment of a lower probability of achievement of performance goals.

Performance-based awards

For fiscal 2024, the Company is granting short-term equity incentive compensation awards to certain employees in the form of performance-based units in lieu of cash-based annual incentive awards. These awards will be granted on or near the incentive payout date, subject to certain performance conditions and a service requirement. The number of performance-based units that the Company will ultimately issue to participating employees will be determined based on a target payout amount for each employee adjusted up or down based on actual performance compared to the performance conditions, and then converted into a variable number of performance-based award units based on the fair value of the Company’s Common Shares on the grant date. The awards are classified as liability awards and, as of June 29, 2024, the Company had accrued $14.0 in the “Other current liabilities” line in the Condensed Consolidated Balance Sheets associated with these awards. As of June 29, 2024, there was $5.9 of total unrecognized pre-tax compensation cost related to these nonvested performance-based awards that is expected to be recognized over the remainder of fiscal 2024.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (c)
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

IMPAIRMENT, RESTRUCTURING AND OTHER - Impairment, Restructuring and Other Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (recoveries), net	$ (0.8)	$ 1.7	$ (5.9)	$ 32.0
Total impairment, restructuring and other charges (recoveries), net	(3.3)	34.5	60.8	193.8
Restructuring and other charges (recoveries), net \| Cost of sales—impairment, restructuring and other
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (recoveries), net	(4.8)	28.6	59.3	134.3
Restructuring and other charges (recoveries), net \| Operating expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (recoveries), net	(0.8)	1.7	(5.9)	32.0
Right-of-use asset impairments \| Cost of sales—impairment, restructuring and other
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (recoveries), net	2.3	3.7	3.3	19.1
Property, plant and equipment impairments \| Cost of sales—impairment, restructuring and other
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (recoveries), net	$ 0.0	$ 0.5	$ 4.1	$ 8.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SEGMENT INFORMATION - Net Sales by Product Category (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Revenue from External Customer [Line Items]
Net sales	$ 1,202.2	$ 1,118.7	$ 3,138.0	$ 3,176.8
U.S. Consumer
Revenue from External Customer [Line Items]
Net sales	1,017.5	916.4	2,704.0	2,642.7
U.S. Consumer \| Lawn care
Revenue from External Customer [Line Items]
Net sales	203.5	165.0	832.1	844.7
U.S. Consumer \| Growing media and mulch
Revenue from External Customer [Line Items]
Net sales	568.5	552.9	1,232.0	1,167.2
U.S. Consumer \| Controls
Revenue from External Customer [Line Items]
Net sales	134.5	113.7	325.0	306.5
U.S. Consumer \| Roundup® marketing agreement
Revenue from External Customer [Line Items]
Net sales	53.6	30.7	141.6	121.7
U.S. Consumer \| Other, primarily gardening
Revenue from External Customer [Line Items]
Net sales	57.4	54.1	173.3	202.6
Hawthorne
Revenue from External Customer [Line Items]
Net sales	67.7	93.4	214.2	317.6
Hawthorne \| Lighting
Revenue from External Customer [Line Items]
Net sales	12.7	20.7	60.7	89.1
Hawthorne \| Nutrients
Revenue from External Customer [Line Items]
Net sales	27.2	27.3	68.4	74.5
Hawthorne \| Growing environments
Revenue from External Customer [Line Items]
Net sales	7.0	13.1	24.8	54.6
Hawthorne \| Growing media
Revenue from External Customer [Line Items]
Net sales	9.4	17.3	30.8	53.6
Hawthorne \| Other, primarily hardware
Revenue from External Customer [Line Items]
Net sales	11.4	15.0	29.5	45.8
Other
Revenue from External Customer [Line Items]
Net sales	117.0	108.9	219.8	216.5
Other \| Lawn care
Revenue from External Customer [Line Items]
Net sales	39.9	37.0	73.7	69.3
Other \| Growing media
Revenue from External Customer [Line Items]
Net sales	46.7	44.3	83.2	84.6
Other \| Other, primarily gardening and controls
Revenue from External Customer [Line Items]
Net sales	$ 30.4	$ 27.6	$ 62.9	$ 62.6

INVESTMENT IN UNCONSOLIDATED AFFILIATES (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Nov. 07, 2023	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Apr. 01, 2023	Dec. 31, 2020
Investments in and Advances to Affiliates [Line Items]
Equity in (income) loss of unconsolidated affiliates		$ (23.0)	$ (22.2)	$ 6.5	$ (3.5)
Bonnie Plants
Investments in and Advances to Affiliates [Line Items]
Equity ownership percentage	50.00%					45.00%	50.00%
Equity Method Investment, Ownership Percentage Increase (Decrease)	5.00%
Payments to acquire equity interest	$ 21.4
Equity Method Investment, Non-Cash Impairment, Before Tax		$ (0.0)		$ 10.4

- Definition

Amount of income (loss) for proportionate share of equity method investee's income (loss).

+ References + Details

DEBT - Weighted Average Interest Rate (Details)	Jun. 29, 2024	Jul. 01, 2023
Debt Disclosure [Abstract]
Weighted average interest rate (percentage)	5.90%	5.30%

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 132.1	$ 43.7	$ 209.1	$ 88.3
Other comprehensive income (loss):
Net foreign currency translation adjustment	(1.3)	2.7	(0.8)	10.9
Net unrealized gain (loss) on derivative instruments, net of tax	1.2	7.2	(0.9)	(2.4)
Reclassification of net unrealized gain on derivative instruments to net income, net of tax	(3.8)	(3.2)	(6.2)	(15.1)
Net unrealized gain (loss) on securities, net of tax	5.1	0.5	3.6	(25.5)
Pension and other post-retirement benefit adjustments, net of tax	0.6	(0.6)	0.2	(3.8)
Total other comprehensive income (loss)	1.8	6.6	(4.1)	(35.9)
Comprehensive income	$ 133.9	$ 50.3	$ 205.0	$ 52.4

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 12.7	$ 15.1	$ 22.3
Property, plant and equipment, accumulated depreciation	$ 805.6	$ 765.4	$ 805.3
Common shares stated value (USD per share)	$ 0.01	$ 0.01	$ 0.01
Common shares outstanding (shares)	56.8	56.5	56.1
Treasury shares, at cost (shares)	11.4	11.6	12.0

MARKETING AGREEMENT

9 Months Ended

Jun. 29, 2024

Marketing Agreement [Abstract]

MARKETING AGREEMENT

The Scotts Company LLC (“Scotts LLC”) is the exclusive agent of Monsanto Company (“Monsanto”), a subsidiary of Bayer AG, for the marketing and distribution of certain of Monsanto’s consumer Roundup® branded products in the United States and certain other specified countries. The annual commission payable under the Third Amended and Restated Exclusive Agency and Marketing Agreement (the “Third Restated Agreement”) is equal to 50% of the actual earnings before interest and income taxes of Monsanto’s consumer Roundup® business for each program year in the markets covered by the Third Restated Agreement (“Program EBIT”). The Third Restated Agreement also requires the Company to make annual payments of $18.0 to Monsanto as a contribution against the overall expenses of its consumer Roundup® business, subject to reduction pursuant to the Third Restated Agreement for any program year in which the Program EBIT does not equal or exceed $36.0.

Unless Monsanto terminates the Third Restated Agreement due to an event of default by the Company, termination rights under the Third Restated Agreement include the following:

•The Company may terminate the Third Restated Agreement upon the insolvency or bankruptcy of Monsanto;

•Monsanto may terminate the Third Restated Agreement in the event that Monsanto decides to decommission the permits, licenses and registrations needed for, and the trademarks, trade names, packages, copyrights and designs used in, the sale of the Roundup® products in the lawn and garden market (a “Brand Decommissioning Termination”); and

•Each party may terminate the Third Restated Agreement if Program EBIT falls below $50.0 and, in such case, no termination fee would be payable to either party.

The termination fee structure requires Monsanto to pay a termination fee to the Company in an amount equal to (i) $375.0 upon a Brand Decommissioning Termination, and (ii) the greater of $175.0 or four times an amount equal to the average of the Program EBIT for the three program years before the year of termination, minus $186.4, if Monsanto or its successor terminates the Third Restated Agreement as a result of a Roundup Sale or Change of Control of Monsanto (each, as defined in the Third Restated Agreement).

The elements of the net commission and reimbursements earned under the Third Restated Agreement and included in the “Net sales” line in the Condensed Consolidated Statements of Operations are as follows:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Gross commission	$	31.5	$	12.3	$	80.9	$	70.9
Contribution expenses	(4.5)		(4.5)		(13.5)		(13.5)

Net commission	27.0		7.8		67.4		57.4
Reimbursements associated with Roundup® marketing agreement	27.4		23.5		75.5		65.9
Total net sales associated with Roundup® marketing agreement	$	54.4	$	31.3	$	142.9	$	123.3

MARKETING AGREEMENT (Tables)

9 Months Ended

Jun. 29, 2024

Marketing Agreement [Abstract]

Schedule of Net Commission and Reimbursements Earned Under Marketing Agreement


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Gross commission	$	31.5	$	12.3	$	80.9	$	70.9
Contribution expenses	(4.5)		(4.5)		(13.5)		(13.5)

Net commission	27.0		7.8		67.4		57.4
Reimbursements associated with Roundup® marketing agreement	27.4		23.5		75.5		65.9
Total net sales associated with Roundup® marketing agreement	$	54.4	$	31.3	$	142.9	$	123.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 29, 2024	Jun. 29, 2024	Jul. 01, 2023	Oct. 27, 2023	Sep. 30, 2023
Significant Accounting Policies [Line Items]
Percentage of annual net sales		75.00%
Noncash investing activities for unpaid liabilities incurred		$ 4.5	$ 7.6
Proceeds from loans receivable		0.0	37.0
Accounts Receivable, Held-for-Sale				$ 600.0
Increase (Decrease) in Receivables		477.3
Proceeds from Sale of Other Receivables	$ 724.5	1,680.0
Discount On Sale Of Other Receivables	8.7	21.6
Supplier Finance Program, Obligation	$ 22.8	22.8	16.6		$ 18.3
Supplier Finance Program, Obligation, Settlement		$ 218.6	$ 157.6
Minimum
Significant Accounting Policies [Line Items]
Supplier Finance Program, Payment Timing, Period	30 days	30 days
Maximum
Significant Accounting Policies [Line Items]
Supplier Finance Program, Payment Timing, Period	60 days	60 days
Standby Letters of Credit
Significant Accounting Policies [Line Items]
Senior secured credit facilities, maximum borrowing capacity				$ 70.0

DEBT - Components of Long-Term Debt (Details) - USD ($) $ in Millions	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023	Aug. 13, 2021	Mar. 17, 2021	Oct. 22, 2019	Dec. 15, 2016
Debt Instrument [Line Items]
Total debt	$ 2,507.2	$ 2,630.6	$ 3,098.8
Less current portions	52.9	52.3	450.7
Long-term debt	2,436.4	2,557.4	2,628.8
Credit Facilities \| Revolving loans
Debt Instrument [Line Items]
Total debt	0.0	88.3	145.1
Credit Facilities \| Term loans
Debt Instrument [Line Items]
Total debt	$ 887.5	$ 925.0	$ 937.5
Senior Notes \| 4.000% Senior Notes Due 2031
Debt Instrument [Line Items]
Interest rate of debt (percentage)	4.00%	4.00%	4.00%		4.00%
Total debt	$ 500.0	$ 500.0	$ 500.0
Senior Notes \| 4.375% Senior Notes Due 2032
Debt Instrument [Line Items]
Interest rate of debt (percentage)	4.375%	4.375%	4.375%	4.375%
Total debt	$ 400.0	$ 400.0	$ 400.0
Senior Notes \| 4.500% Senior Notes Due 2029
Debt Instrument [Line Items]
Interest rate of debt (percentage)	4.50%	4.50%	4.50%			4.50%
Total debt	$ 450.0	$ 450.0	$ 450.0
Senior Notes \| 5.250% Senior Notes Due 2026
Debt Instrument [Line Items]
Interest rate of debt (percentage)	5.25%	5.25%	5.25%				5.25%
Total debt	$ 250.0	$ 250.0	$ 250.0
Receivables facility
Debt Instrument [Line Items]
Total debt	0.0	0.0	398.0
Finance lease obligations
Debt Instrument [Line Items]
Total debt	19.7	16.9	17.4
Other
Debt Instrument [Line Items]
Total debt	0.0	0.4	0.8
Long-term debt
Debt Instrument [Line Items]
Less unamortized debt issuance costs	$ 17.9	$ 20.9	$ 19.3

INCOME TAXES	9 Months Ended
INCOME TAXES	Jun. 29, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective tax rates for the nine months ended June 29, 2024 and July 1, 2023 were 27.5% and 17.7%, respectively. The effective tax rate used for interim reporting purposes is based on management’s best estimate of factors impacting the effective tax rate for the full fiscal year and includes the impact of discrete items recognized in the quarter. There can be no assurance that the effective tax rate estimated for interim financial reporting purposes will approximate the effective tax rate determined at fiscal year-end. Scotts Miracle-Gro or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction and various state, local and foreign jurisdictions. Subject to the following exceptions, the Company is no longer subject to examination by these tax authorities for fiscal years prior to 2020. There are currently no ongoing audits with respect to the U.S. federal jurisdiction. With respect to the foreign jurisdictions, a Canadian audit covering fiscal years 2020 through 2021 is in process. The Company is currently under examination by certain U.S. state and local tax authorities covering various periods from fiscal years 2014 through 2022. In addition to the aforementioned audits, certain other tax deficiency notices and refund claims for previous years remain unresolved. The Company currently anticipates that few of its open and active audits will be resolved within the next twelve months. The Company is unable to make a reasonably reliable estimate as to when or if cash settlements with taxing authorities may occur. Although the outcomes of such examinations and the timing of any payments required upon the conclusion of such examinations are subject to significant uncertainty, the Company does not anticipate that the resolution of these tax matters or any events related thereto will result in a material change to its consolidated financial position, results of operations or cash flows.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Additional Information (Details) - USD ($) $ in Millions	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023
Not Designated as Hedging Instrument \| Currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 182.6	$ 123.1	$ 121.7
Designated as Hedging Instruments \| Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	500.0	$ 600.0	$ 600.0
(Gain) loss related to interest rate swap agreements expected to be reclassified	(8.6)
Designated as Hedging Instruments \| Commodity hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) related to commodity hedges expected to be reclassified	$ 0.1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 29, 2024
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations The Scotts Miracle-Gro Company (“Scotts Miracle-Gro”) and its subsidiaries (collectively, with Scotts Miracle-Gro, the “Company”) are engaged in the manufacturing, marketing and sale of products for lawn and garden care and indoor and hydroponic gardening. The Company’s products are sold in North America, Europe and Asia. The Company’s North America consumer lawn and garden business is highly seasonal, with approximately 75% of its annual net sales occurring in the second and third fiscal quarters. The Company’s Hawthorne segment is also impacted by seasonal sales patterns for certain product categories due to the timing of growing patterns in North America during the second and third fiscal quarters, and the timing of certain controlled agricultural lighting project sales during the third and fourth fiscal quarters.
Organization and Basis of Presentation	Organization and Basis of Presentation The Company’s unaudited condensed consolidated financial statements for the three and nine months ended June 29, 2024 and July 1, 2023 are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The condensed consolidated financial statements include the accounts of Scotts Miracle-Gro and its subsidiaries. All intercompany transactions and accounts have been eliminated in consolidation. The Company’s consolidation criteria are based on majority ownership (as evidenced by a majority voting interest in the entity) and an objective evaluation and determination of effective management control. The results of businesses acquired or disposed of are included in the condensed consolidated financial statements from the date of each acquisition or up to the date of disposal, respectively. In the opinion of management, interim results reflect all normal and recurring adjustments and are not necessarily indicative of results for a full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted or condensed pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, this Quarterly Report on Form 10-Q for the fiscal quarter ended June 29, 2024 (this “Form 10-Q”) should be read in conjunction with Scotts Miracle-Gro’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023 (the “2023 Annual Report”), which includes a complete set of footnote disclosures, including the Company’s significant accounting policies. The Company’s Condensed Consolidated Balance Sheet at September 30, 2023 has been derived from the Company’s audited Consolidated Balance Sheet at that date, but does not include all of the information and footnotes required by GAAP for complete financial statements.
Supplier Finance Program	Supplier Finance Program The Company has an agreement to provide a supplier finance program which facilitates participating suppliers’ ability to finance payment obligations of the Company with a designated third-party financial institution. Participating suppliers may, at their sole discretion, elect to finance payment obligations of the Company prior to their scheduled due dates at a discounted price to the participating financial institution. The Company’s obligations to its suppliers, including amounts due and scheduled payment dates, are not impacted by suppliers’ decisions to finance amounts under this arrangement. The payment terms that the Company negotiates with its suppliers are consistent, regardless of whether a supplier participates in the program. The Company’s current payment terms with a majority of its suppliers generally range from 30 to 60 days, which the Company deems to be commercially reasonable.
Recently Adopted & Issued Accounting Pronouncements	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In September 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2022-04, “Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” This ASU requires disclosure of the key terms of outstanding supplier finance programs and a roll-forward of the related obligations. ASU No. 2022-04 is effective for fiscal years beginning after December 15, 2022, except for the amendment on roll-forward information, which is effective for fiscal years beginning after December 15, 2023. The Company adopted the ASU as of October 1, 2023. The adoption relates to disclosures only and does not have any impact on the Company’s consolidated financial position, results of operations or cash flows. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU requires enhanced disclosures about significant segment expenses regularly provided to the chief operating decision maker that are included within each reported measure of segment profit or loss, and also requires all annual disclosures currently required by Topic 280 to be included in interim periods. ASU No. 2023-07 is to be applied retrospectively for all periods presented in the financial statements and is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on the Company’s disclosures. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This ASU primarily requires enhanced disclosures and disaggregation of income tax information by jurisdiction in the annual income tax reconciliation and quantitative and qualitative disclosures regarding income taxes paid. ASU No. 2023-09 is to be applied prospectively, with the option to apply the standard retrospectively, effective for fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact that the adoption of this guidance will have on the Company’s disclosures.

EQUITY - Total Share-based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Equity [Abstract]
Share-based compensation	$ 21.0	$ (5.8)	$ 65.0	$ 52.2
Related tax benefit recognized	$ 4.5	$ 0.6	$ 11.7	$ 11.4

LEASES (Tables)

9 Months Ended

Jun. 29, 2024

Leases [Abstract]

Weighted-Average Remaining Lease Term and Discount Rate and Supplemental Balance Sheet Information Schedule

Supplemental balance sheet information related to the Company’s leases was as follows:


	Balance Sheet Location	June 29, 2024		July 1, 2023		September 30, 2023

Operating leases:
Right-of-use assets	Other assets	$	276.8	$	266.2	$	262.6

Current lease liabilities	Other current liabilities	73.9		77.7		76.4
Non-current lease liabilities	Other liabilities	228.1		216.4		220.1
Total operating lease liabilities		$	302.0	$	294.1	$	296.5

Finance leases:
Right-of-use assets	Property, plant and equipment, net	$	17.1	$	15.2	$	14.5

Current lease liabilities	Current portion of debt	2.9		1.9		1.9
Non-current lease liabilities	Long-term debt	16.8		15.5		15.0
Total finance lease liabilities		$	19.7	$	17.4	$	16.9

Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:


	June 29, 2024		July 1, 2023		September 30, 2023
Weighted-average remaining lease term (in years):
Operating leases	5.3		4.6		5.4
Finance leases	8.0		9.6		9.5

Weighted-average discount rate:
Operating leases	5.9	%	4.1	%	5.2	%
Finance leases	4.8	%	4.4	%	4.4	%

Lease Cost Components and Supplemental Cash Flow Information and Non-Cash Activity For Company's Leases Schedules

Components of lease cost were as follows:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Operating lease cost (a)	$	21.5	$	22.0	$	63.8	$	68.1
Variable lease cost	7.6		6.7		23.4		20.3


Finance lease cost
Amortization of right-of-use assets	0.6		0.5		1.8		2.5
Interest on lease liabilities	0.2		0.2		0.6		0.6
Total finance lease cost	$	0.8	$	0.7	$	2.4	$	3.1

Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows:


	Nine Months Ended
		June 29, 2024		July 1, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net		$	74.5	$	69.8
Operating cash flows from finance leases		0.6		0.6
Financing cash flows from finance leases		1.6		2.2

Right-of-use assets obtained in exchange for lease obligations:
Operating leases		$	65.2	$	67.6
Finance leases		4.5		—

Maturities of Operating Lease Liabilities by Fiscal Year Schedule

Maturities of lease liabilities by fiscal year for the Company’s leases as of June 29, 2024 were as follows:


Year	Operating Leases		Finance Leases
2024 (remainder of the year)	$	24.0	$	0.9
2025	86.9		3.7
2026	71.0		3.3
2027	47.0		2.9
2028	36.9		2.5
Thereafter	88.3		10.5
Total lease payments	354.1		23.8
Less: Imputed interest	(52.1)		(4.1)
Total lease liabilities	$	302.0	$	19.7

Maturities of Finance Lease Liabilities by Fiscal Year Schedule

Maturities of lease liabilities by fiscal year for the Company’s leases as of June 29, 2024 were as follows:


Year	Operating Leases		Finance Leases
2024 (remainder of the year)	$	24.0	$	0.9
2025	86.9		3.7
2026	71.0		3.3
2027	47.0		2.9
2028	36.9		2.5
Thereafter	88.3		10.5
Total lease payments	354.1		23.8
Less: Imputed interest	(52.1)		(4.1)
Total lease liabilities	$	302.0	$	19.7

DEBT - Credit Facilities (Details) $ in Millions	Aug. 06, 2024 USD ($)	Jul. 31, 2023 USD ($)	Apr. 08, 2022 USD ($)	Jun. 29, 2024 USD ($)	Jul. 01, 2023	Jun. 08, 2022
Debt Instrument [Line Items]
Weighted average interest rate (percentage)				5.90%	5.30%
Leverage ratio				5.46
Debt Instrument, Covenant, Fixed Charge Coverage Ratio				1.15
Period One
Debt Instrument [Line Items]
Debt instrument, leverage ratio				6.50
Interest coverage ratio				0.75
Period Two
Debt Instrument [Line Items]
Debt instrument, leverage ratio				6.00
Interest coverage ratio				1.00
Period Three
Debt Instrument [Line Items]
Debt instrument, leverage ratio				5.50
Period Four
Debt Instrument [Line Items]
Debt instrument, leverage ratio				5.25
Period Five
Debt Instrument [Line Items]
Debt instrument, leverage ratio				5.00
Period six
Debt Instrument [Line Items]
Debt instrument, leverage ratio				4.75
Period seven
Debt Instrument [Line Items]
Debt instrument, leverage ratio				4.50
Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate (percentage)				9.00%	7.30%
Sixth Amended And Restated Senior Secured Credit Agreement
Debt Instrument [Line Items]
Senior secured credit facilities, maximum borrowing capacity			$ 2,500.0
Long-Term Debt				$ 2,487.5
Sixth Amended And Restated Senior Secured Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Senior secured credit facilities, maximum borrowing capacity			1,500.0
Letters of credit			100.0
Sixth Amended And Restated Senior Secured Credit Agreement \| Secured Term Loan
Debt Instrument [Line Items]
Senior secured credit facilities, maximum borrowing capacity			$ 1,000.0
Sixth Amended And Restated Senior Secured Credit Agreement, Amendment One \| Revolving Credit Facility
Debt Instrument [Line Items]
Increase in interest rate, bps						35
Increase in annual facility fee rate, bps						15
Debt instrument, leverage ratio						4.75
Sixth Amended And Restated Senior Secured Credit Agreement, Amendment One \| Secured Term Loan
Debt Instrument [Line Items]
Increase in interest rate, bps						50
Sixth Amended And Restated Senior Secured Credit Agreement, Amendment Two \| Revolving Credit Facility
Debt Instrument [Line Items]
Reduction of commitments		$ 250.0
Interest rate increase (decrease)		0.25%
Incremental investments, loans, and advances, maximum		$ 25.0
Common stock cash dividends, maximum per fiscal year		225.0
Other dividends and distributions, maximum		$ 25.0
Debt Instrument, Covenant, Leverage Ratio, Minimum Threshold For Additional Pricing Tier		6.00
Credit Facilities
Debt Instrument [Line Items]
Available borrowing capacity				1,172.0
Credit Facilities \| Letter of Credit
Debt Instrument [Line Items]
Principal amount				$ 78.0
Credit Facilities \| Term loans \| Subsequent Event
Debt Instrument [Line Items]
Repayments of debt	$ 200.0
Credit Facilities \| Sixth Amended And Restated Senior Secured Credit Agreement
Debt Instrument [Line Items]
Debt, maturity period (years)			5 years

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Jun. 29, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Outstanding Derivative Contracts

The Company had the following outstanding commodity contracts that were entered into to hedge forecasted purchases:

Commodity

June 29,
2024

July 1,
2023

September 30,
2023

Urea

33,000 tons

51,000 tons

52,500 tons

Diesel

462,000 gallons

2,268,000 gallons

1,974,000 gallons

Heating Oil

84,000 gallons

1,008,000 gallons

966,000 gallons

Schedule of the Fair Values of Derivative Instruments

The fair values of the Company’s derivative instruments, which represent Level 2 fair value measurements, were as follows:


		Assets / (Liabilities)
Derivatives Designated as Hedging Instruments	Balance Sheet Location	June 29, 2024		July 1, 2023		September 30, 2023

Interest rate swap agreements	Prepaid and other current assets	$	11.8	$	16.3	$	16.7
	Other assets	8.2		13.1		14.7

	Other liabilities	(1.8)		—		—
Commodity hedging instruments	Prepaid and other current assets	—		—		2.3
	Other current liabilities	—		(0.9)		—
Total derivatives designated as hedging instruments		$	18.2	$	28.5	$	33.7

Derivatives Not Designated as Hedging Instruments	Balance Sheet Location
Currency forward contracts	Prepaid and other current assets	$	—	$	—	$	5.6
	Other current liabilities	(1.9)		(2.0)		—
Commodity hedging instruments	Prepaid and other current assets	—		—		0.9
	Other current liabilities	—		(0.4)		—
Total derivatives not designated as hedging instruments		(1.9)		(2.4)		6.5
Total derivatives		$	16.3	$	26.1	$	40.2

Schedule of the Effect of Derivative Instruments on AOCL and Statements of Operations

The effect of derivative instruments on AOCL, net of tax, and the Condensed Consolidated Statements of Operations for each of the periods presented was as follows:


Derivatives in Cash Flow Hedging Relationships	Amount of Gain / (Loss) Recognized in AOCL
	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Interest rate swap agreements	$	1.2	$	8.0	$	0.6	$	7.3
Commodity hedging instruments	—		(0.8)		(1.5)		(9.7)
Total	$	1.2	$	7.2	$	(0.9)	$	(2.4)


Derivatives in Cash Flow Hedging Relationships	Reclassified from AOCL into Statement of Operations	Amount of Gain / (Loss)
		Three Months Ended				Nine Months Ended
		June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Interest rate swap agreements	Interest expense	$	3.7	$	3.9	$	10.4	$	9.0
Commodity hedging instruments	Cost of sales	0.1		(0.7)		(4.2)		6.1
Total		$	3.8	$	3.2	$	6.2	$	15.1


Derivatives Not Designated as Hedging Instruments	Recognized in Statement of Operations	Amount of Gain / (Loss)
		Three Months Ended				Nine Months Ended
		June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Currency forward contracts	Other income / expense, net	$	(0.1)	$	(2.9)	$	(3.6)	$	(19.5)
Commodity hedging instruments	Cost of sales	(0.5)		(1.0)		(1.9)		(0.1)
Total		$	(0.6)	$	(3.9)	$	(5.5)	$	(19.6)

INVESTMENT IN UNCONSOLIDATED AFFILIATES	9 Months Ended
INVESTMENT IN UNCONSOLIDATED AFFILIATES	Jun. 29, 2024
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	INVESTMENT IN UNCONSOLIDATED AFFILIATES On December 31, 2020, the Company acquired a 50% equity interest in Bonnie Plants, LLC, a joint venture with Alabama Farmers Cooperative, Inc. (“AFC”) focused on planting, growing, developing, distributing, marketing and selling live plants. During the three months ended December 31, 2022, the Company and AFC amended the joint venture agreement to allow AFC to make an additional equity contribution to Bonnie Plants, LLC, and, as a result of this contribution by AFC, the Company’s equity interest in Bonnie Plants, LLC was reduced to 45%. On November 7, 2023, the Company purchased an additional 5% equity interest in Bonnie Plants, LLC from AFC for $21.4, which restored its total equity interest back to 50%. The Company’s interest is accounted for using the equity method of accounting, with the Company’s proportionate share of Bonnie Plants, LLC earnings reflected in the Condensed Consolidated Statements of Operations. During the three and nine months ended June 29, 2024, the Company recorded equity in (income) loss of unconsolidated affiliates associated with Bonnie Plants, LLC of ($23.0) and $6.5, respectively, as compared to ($22.2) and ($3.5) during the three and nine months ended July 1, 2023, respectively. During the three and nine months ended June 29, 2024, the Company recorded a pre-tax impairment charge of $0.0 and $10.4, respectively, associated with its investment in Bonnie Plants, LLC in the “Equity in (income) loss of unconsolidated affiliates” line in the Condensed Consolidated Statements of Operations.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Accounting Policies [Abstract]
Interest paid	$ 131.6	$ 143.3
Income taxes paid (refunded), net	$ 3.7	$ (15.4)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

9 Months Ended

Jun. 29, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

The Company is exposed to market risks, such as changes in interest rates, currency exchange rates and commodity prices. To manage a portion of the volatility related to these exposures, the Company enters into various financial transactions. The utilization of these financial transactions is governed by policies covering acceptable counterparty exposure, instrument types and other hedging practices. The Company does not hold or issue derivative financial instruments for speculative trading purposes.

Exchange Rate Risk Management

The Company uses currency forward contracts to manage the exchange rate risk associated with intercompany loans and certain other balances denominated in foreign currencies. Currency forward contracts are valued using observable forward rates in commonly quoted intervals for the full term of the contracts. The notional amount of outstanding currency forward contracts was $182.6, $121.7 and $123.1 at June 29, 2024, July 1, 2023 and September 30, 2023, respectively. Contracts outstanding at June 29, 2024 will mature over the next fiscal quarter.

Interest Rate Risk Management

The Company enters into interest rate swap agreements as a means to hedge its variable interest rate risk on debt instruments. Net amounts to be received or paid under the swap agreements are reflected as adjustments to interest expense. The Company has outstanding interest rate swap agreements with major financial institutions that effectively convert a portion of the Company’s variable-rate debt to a fixed rate. Interest rate swap agreements are valued based on the present value of the estimated future net cash flows using implied rates in the applicable yield curve as of the valuation date. Swap agreements that were hedging interest payments as of June 29, 2024, July 1, 2023 and September 30, 2023 had a maximum total U.S. dollar equivalent notional amount of $500.0, $600.0 and $600.0, respectively. Refer to “NOTE 6. DEBT” for the terms of the swap agreements outstanding at June 29, 2024. Included in the AOCL balance at June 29, 2024 was a gain of $8.6 related to interest rate swap agreements that is expected to be reclassified to earnings during the next twelve months, consistent with the timing of the underlying hedged transactions.

Commodity Price Risk Management

The Company enters into hedging arrangements designed to fix the price of a portion of its projected future urea and diesel requirements. Commodity contracts are valued using observable commodity exchange prices in active markets. Included in the AOCL balance at June 29, 2024 was a gain of $0.1 related to commodity hedges that is expected to be reclassified to earnings during the next twelve months, consistent with the timing of the underlying hedged transactions.

The Company had the following outstanding commodity contracts that were entered into to hedge forecasted purchases:

Commodity

June 29,
2024

July 1,
2023

September 30,
2023

Urea

33,000 tons

51,000 tons

52,500 tons

Diesel

462,000 gallons

2,268,000 gallons

1,974,000 gallons

Heating Oil

84,000 gallons

1,008,000 gallons

966,000 gallons

Fair Values of Derivative Instruments

The fair values of the Company’s derivative instruments, which represent Level 2 fair value measurements, were as follows:


		Assets / (Liabilities)
Derivatives Designated as Hedging Instruments	Balance Sheet Location	June 29, 2024		July 1, 2023		September 30, 2023

Interest rate swap agreements	Prepaid and other current assets	$	11.8	$	16.3	$	16.7
	Other assets	8.2		13.1		14.7

	Other liabilities	(1.8)		—		—
Commodity hedging instruments	Prepaid and other current assets	—		—		2.3
	Other current liabilities	—		(0.9)		—
Total derivatives designated as hedging instruments		$	18.2	$	28.5	$	33.7

Derivatives Not Designated as Hedging Instruments	Balance Sheet Location
Currency forward contracts	Prepaid and other current assets	$	—	$	—	$	5.6
	Other current liabilities	(1.9)		(2.0)		—
Commodity hedging instruments	Prepaid and other current assets	—		—		0.9
	Other current liabilities	—		(0.4)		—
Total derivatives not designated as hedging instruments		(1.9)		(2.4)		6.5
Total derivatives		$	16.3	$	26.1	$	40.2

The effect of derivative instruments on AOCL, net of tax, and the Condensed Consolidated Statements of Operations for each of the periods presented was as follows:


Derivatives in Cash Flow Hedging Relationships	Amount of Gain / (Loss) Recognized in AOCL
	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Interest rate swap agreements	$	1.2	$	8.0	$	0.6	$	7.3
Commodity hedging instruments	—		(0.8)		(1.5)		(9.7)
Total	$	1.2	$	7.2	$	(0.9)	$	(2.4)


Derivatives in Cash Flow Hedging Relationships	Reclassified from AOCL into Statement of Operations	Amount of Gain / (Loss)
		Three Months Ended				Nine Months Ended
		June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Interest rate swap agreements	Interest expense	$	3.7	$	3.9	$	10.4	$	9.0
Commodity hedging instruments	Cost of sales	0.1		(0.7)		(4.2)		6.1
Total		$	3.8	$	3.2	$	6.2	$	15.1


Derivatives Not Designated as Hedging Instruments	Recognized in Statement of Operations	Amount of Gain / (Loss)
		Three Months Ended				Nine Months Ended
		June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Currency forward contracts	Other income / expense, net	$	(0.1)	$	(2.9)	$	(3.6)	$	(19.5)
Commodity hedging instruments	Cost of sales	(0.5)		(1.0)		(1.9)		(0.1)
Total		$	(0.6)	$	(3.9)	$	(5.5)	$	(19.6)

LEASES - Additional Information (Details) - USD ($) $ in Millions	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023
Lessee, Lease, Description [Line Items]
Expected lease liability	$ 302.0	$ 296.5	$ 294.1
Residual value of leased asset	5.2
Operating Lease, Lease Not yet Commenced
Lessee, Lease, Description [Line Items]
Operating lease, not yet commenced	$ 25.2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Fair Values of Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023
Fair value, inputs, level 2
Derivatives, Fair Value [Line Items]
Total derivatives	$ 16.3	$ 40.2	$ 26.1
Designated as Hedging Instruments \| Interest rate swap agreements \| Other assets
Derivatives, Fair Value [Line Items]
Derivative asset	8.2	14.7	13.1
Designated as Hedging Instruments \| Interest rate swap agreements \| Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	11.8	16.7	16.3
Designated as Hedging Instruments \| Fair value, inputs, level 2
Derivatives, Fair Value [Line Items]
Total derivatives	18.2	33.7	28.5
Designated as Hedging Instruments \| Fair value, inputs, level 2 \| Interest rate swap agreements \| Other liabilities
Derivatives, Fair Value [Line Items]
Derivative liability	(1.8)	0.0	0.0
Designated as Hedging Instruments \| Fair value, inputs, level 2 \| Commodity hedging instruments \| Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability	0.0	0.0	(0.9)
Designated as Hedging Instruments \| Fair value, inputs, level 2 \| Commodity hedging instruments \| Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	0.0	2.3	0.0
Not Designated as Hedging Instrument \| Fair value, inputs, level 2
Derivatives, Fair Value [Line Items]
Total derivatives	(1.9)	6.5	(2.4)
Not Designated as Hedging Instrument \| Fair value, inputs, level 2 \| Currency forward contracts \| Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability	(1.9)	0.0	(2.0)
Not Designated as Hedging Instrument \| Fair value, inputs, level 2 \| Currency forward contracts \| Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	0.0	5.6	0.0
Not Designated as Hedging Instrument \| Fair value, inputs, level 2 \| Commodity hedging instruments \| Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability	0.0	0.0	(0.4)
Not Designated as Hedging Instrument \| Fair value, inputs, level 2 \| Commodity hedging instruments \| Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	$ 0.0	$ 0.9	$ 0.0

EQUITY - Summary of the Changes in Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Dec. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Jan. 01, 2022	Jun. 29, 2024	Jul. 01, 2023
Schedule of Equity Method Investments [Line Items]
Dividends declared (USD per share)	$ 0.66	$ 0.66	$ 0.66	$ 0.66	$ 0.66	$ 0.66
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity, beginning balance	$ (250.9)	$ (385.4)	$ (267.3)	$ 137.5	$ 59.5		$ (267.3)	$ 147.7
Net income (loss)	132.1	157.5	(80.5)	43.7	109.4	$ (64.7)	209.1	88.3
Other comprehensive income (loss)	1.8	3.0	(8.9)	6.6	(17.8)	(24.6)	(4.1)	(35.9)
Other comprehensive income (loss)	1.8			6.6			(4.1)	(35.9)
Share-based compensation	8.3	12.4	11.7	(5.8)	37.2	20.8
Dividends declared	(38.1)	(38.1)	(38.0)	(37.2)	(37.0)	(37.5)
Treasury share purchases	(0.2)	(1.7)	(3.1)	(2.8)	(5.6)	(0.8)
Treasury share issuances	0.8	1.3	0.7	(7.2)	(8.1)	18.7
Total equity, ending balance	(146.2)	(250.9)	(385.4)	134.8	137.5		(146.2)	134.8
Common Shares and Capital in Excess of Stated Value
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity beginning balance	353.7	349.6	353.1	374.3	367.6		353.1	364.0
Share-based compensation	8.3	12.4	11.7	(5.8)	37.2	20.8
Treasury share issuances	(1.4)	(8.3)	(15.2)	(18.0)	(30.4)	(17.2)
Equity ending balance	360.6	353.7	349.6	350.5	374.3		360.6	350.5
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity beginning balance	491.8	372.4	490.9	990.3	917.9		490.9	1,020.1
Net income (loss)	132.1	157.5	(80.5)	43.7	109.4	(64.7)
Dividends declared	(38.1)	(38.1)	(38.0)	(37.2)	(37.0)	(37.5)
Equity ending balance	585.8	491.8	372.4	996.8	990.3		585.8	996.8
Treasury Stock, Common
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity beginning balance	(977.8)	(985.7)	(998.5)	(1,040.0)	(1,056.7)		(998.5)	(1,091.8)
Treasury share purchases	(0.2)	(1.7)	(3.1)	(2.8)	(5.6)	(0.8)
Treasury share issuances	2.2	9.6	15.9	10.8	22.3	35.9
Equity ending balance	(975.7)	(977.8)	(985.7)	(1,032.0)	(1,040.0)		(975.7)	(1,032.0)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity beginning balance	(118.6)	(121.7)	(112.8)	(187.1)	(169.3)		(112.8)	(144.6)
Other comprehensive income (loss)		3.0	(8.9)		(17.8)	$ (24.6)
Other comprehensive income (loss)	1.8			6.6
Equity ending balance	$ (116.9)	$ (118.6)	$ (121.7)	$ (180.5)	$ (187.1)		$ (116.9)	$ (180.5)

MARKETING AGREEMENT - Additional Information (Details) $ in Millions	Aug. 01, 2019 USD ($)
Restated Marketing Agreement
Marketing Agreement [Line Items]
Percentage of program earnings	50.00%
Annual payments	$ 18.0
Third Restated Agreement
Marketing Agreement [Line Items]
Minimum annual EBIT required to avoid reduction of contribution payment	36.0
Minimum EBIT	50.0
Brand decommissioning event payable	375.0
Termination fee payable	$ 175.0
Minimum termination fee payable multiple	4
Minimum termination fee payable threshold	$ 186.4

EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Jun. 29, 2024

Earnings Per Share [Abstract]

Information to Calculate Basic and Diluted Earnings (Loss) Per Common Share

The following table presents information necessary to calculate basic and diluted net income per Common Share for the periods indicated:


	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023



Net income	$	132.1	$	43.7	$	209.1	$	88.3


Basic net income per common share
Weighted-average common shares outstanding during the period	56.8		56.2		56.7		55.9
Basic net income per common share	$	2.33	$	0.78	$	3.69	$	1.58


Diluted net income per common share
Weighted-average common shares outstanding during the period	56.8		56.2		56.7		55.9
Dilutive potential common shares	1.2		0.4		0.8		0.4
Weighted-average common shares outstanding during the period plus dilutive potential common shares	58.0		56.6		57.5		56.3


Diluted net income per common share	$	2.28	$	0.77	$	3.64	$	1.57

Antidilutive stock options outstanding	0.2		0.2		0.4		0.4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
OPERATING ACTIVITIES
Net income	$ 209.1	$ 88.3
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Impairment, restructuring and other	6.4	50.0
Share-based compensation expense	65.7	52.7
Depreciation	48.8	49.6
Amortization	11.8	20.8
Deferred taxes	62.0	(5.9)
Equity in (income) loss of unconsolidated affiliates	6.5	(3.5)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(200.8)	(775.9)
Inventories	273.4	448.6
Prepaid and other current assets	6.2	(0.7)
Accounts payable	73.1	(35.7)
Other current liabilities	(3.2)	112.5
Other non-current items	(10.2)	(8.1)
Other, net	0.2	3.0
Net cash provided by (used in) operating activities	549.0	(4.3)
INVESTING ACTIVITIES
Investments in property, plant and equipment	(67.4)	(73.8)
Proceeds from loans receivable	0.0	37.0
Investments in unconsolidated affiliates	(21.4)	0.0
Other investing, net	8.8	(7.8)
Net cash used in investing activities	(80.0)	(44.6)
FINANCING ACTIVITIES
Borrowings under revolving and bank lines of credit and term loans	648.5	1,296.4
Repayments under revolving and bank lines of credit and term loans	(776.4)	(1,183.8)
Dividends paid	(113.7)	(112.0)
Purchase of Common Shares	(5.0)	(9.3)
Cash received from exercise of stock options	2.4	1.7
Other financing, net	23.1	(4.0)
Net cash used in financing activities	(221.1)	(11.0)
Effect of exchange rate changes on cash	0.1	0.5
Net increase (decrease) in cash and cash equivalents	248.0	(59.4)
Cash and cash equivalents at beginning of period	31.9	86.8
Cash and cash equivalents at end of period	$ 279.9	$ 27.4

DEBT - Receivables Facility (Details) $ in Millions	4 Months Ended
DEBT - Receivables Facility (Details) $ in Millions	Jun. 16, 2023 USD ($)	Jul. 01, 2023 USD ($)	Apr. 07, 2017 USD ($) customer
Master Repurchase And Framework Agreements, The Amendments
Debt Instrument [Line Items]
Number of customers \| customer			3
Financing receivable, before allowance for credit loss			$ 400.0
Line of credit facility, maximum amount outstanding during period	$ 160.0
Receivables Facility
Debt Instrument [Line Items]
Receivables facility borrowings		$ 398.0
Receivables facility \| Asset Pledged as Collateral
Debt Instrument [Line Items]
Financing receivable pledged as collateral		$ 442.2

FAIR VALUE MEASUREMENTS - Additional Information (Details) $ in Millions		9 Months Ended		12 Months Ended
	Aug. 24, 2021	Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)	Sep. 30, 2023 USD ($)	May 30, 2024
Convertible Promissory Notes \| RIV Capital, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt term	6 years
Conversion ratio					0.23
Approximate potential non-cash, pre-tax, other-than-temporary impairment charge		$ 70.0
Convertible debt investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost basis of investment		226.1	$ 225.0	$ 225.8
Unrealized gain (loss) on investment		(136.3)	(138.5)	(140.0)
Expected credit losses		$ 101.3	$ 0.0	$ 101.3
Convertible debt investments \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt term		3 years 2 months 12 days
Convertible debt investments \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt term		5 years 2 months 12 days

EARNINGS PER COMMON SHARE - Calculation of Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income	$ 132.1	$ 43.7	$ 209.1	$ 88.3
Basic net income per common share
Weighted-average common shares outstanding during the period (in shares)	56,800,000	56,200,000	56,700,000	55,900,000
Income (loss) from continuing operations (USD per share)	$ 2.33	$ 0.78	$ 3.69	$ 1.58
Diluted net income per common share
Weighted-average common shares outstanding during the period (in shares)	56,800,000	56,200,000	56,700,000	55,900,000
Dilutive potential Common Shares (in shares)	1,200,000	400,000	800,000	400,000
Weighted-average common shares outstanding during the period plus dilutive potential common shares (in shares)	58,000,000.0	56,600,000	57,500,000	56,300,000
Diluted income (loss) per common share (USD per share)	$ 2.28	$ 0.77	$ 3.64	$ 1.57
Options
Diluted net income per common share
Number of anti-dilutive potential common shares excluded from the calculation (in shares)	200,000	200,000	400,000	400,000

EQUITY - Dividends (Details) - $ / shares	3 Months Ended
EQUITY - Dividends (Details) - $ / shares	Jun. 29, 2024	Mar. 30, 2024	Dec. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Jan. 01, 2022
Equity [Abstract]
Dividends declared (USD per share)	$ 0.66	$ 0.66	$ 0.66	$ 0.66	$ 0.66	$ 0.66