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Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net Income	$ 28.9	$ 14.0	$ 49.0	$ 49.2
Other Comprehensive Income (Loss), net of tax
Foreign currency translation adjustments	(2.4)	2.7	9.2	28.7
Total Other Comprehensive Income (Loss), net of tax	(2.4)	2.7	9.2	28.7
Comprehensive Income	$ 26.5	$ 16.7	$ 58.2	$ 77.9

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Contingencies	6 Months Ended
Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 6 — Contingencies The Company was not a party to any material legal proceedings at March 31, 2024 or September 30, 2023, nor is it a party to any material legal proceedings as of the date of issuance of these Condensed Consolidated Financial Statements.

- 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 + Details

Leases - Balance Sheet Information (Details) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2023
Finance Leases
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Total Finance Lease Assets	$ 32.0	$ 33.1
Current finance lease liabilities	3.7	3.6
Non Current Finance Lease Liabilities	30.8	31.5
Total Finance Lease Liabilities	$ 34.5	$ 35.1
Weighted-average remaining lease term (years)	13 years	13 years 6 months
Weighted-average discount rate	6.80%	6.80%
Operating Leases
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Deferred Income Taxes and Other Assets	Deferred Income Taxes and Other Assets
Total Operating Lease Assets	$ 21.6	$ 23.0
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses	Accrued expenses
Current operating lease liabilities	$ 5.9	$ 5.9
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Deferred Income Taxes and Other Liabilities	Deferred Income Taxes and Other Liabilities
Non Current operating lease liabilities	$ 14.0	$ 15.4
Total Operating Lease Liabilities	$ 19.9	$ 21.3
Weighted-average remaining lease term (years)	6 years 9 months 18 days	7 years 3 months 18 days
Weighted-average discount rate	6.70%	6.90%

Long-Term Debt

6 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Long-Term Debt

Note 11 — Long-Term Debt

Credit Agreement

On March 31, 2022, Embecta entered into a credit agreement (the “Credit Agreement”), providing for:

•a Term Loan B Facility (the "Term Loan") in the amount of $950.0 million, with a seven-year term that matures in March 2029. The interest rate is 300 basis points over the secured overnight financing rate (“SOFR”), with a 0.50% SOFR floor. The Term Loan was issued at a discount of 0.50%. Principal and interest payments on the Term Loan commenced on June 30, 2022. Such quarterly principal payments are calculated as 0.25% of the initial principal amount, with the remaining balance payable upon maturity; and

•a Revolving Credit Facility (the "Revolving Credit Facility") in an aggregate principal amount of up to $500.0 million, with a five-year term that matures in 2027. Borrowings under the Revolving Credit Facility bear interest, at Embecta’s option, at an annual rate equal to (a) in the case of loans denominated in United States dollars (i) the SOFR or (ii) the alternate base rate or (b) in the case of loans denominated in Euros, the EURIBOR rate, in each case plus an applicable margin specified in the credit agreement. A commitment fee applies to the unused portion of the Revolving Credit Facility, equal to 0.25% per annum. As of March 31, 2024, no amount has been drawn on the Revolving Credit Facility.

The Credit Agreement and the indentures for Embecta's outstanding 5.00% senior secured notes due February 2030 (the "5.00% Notes") and 6.75% senior secured notes due February 2030 (the "6.75% Notes") contain customary financial covenants, including a total net leverage ratio covenant, which measures the ratio of (i) consolidated total net debt to (ii) consolidated earnings before interest, taxes, depreciation and amortization, and subject to other adjustments, must meet certain defined limits which are tested on a quarterly basis in accordance with the terms of the Credit Agreement and the 5.00% Notes and 6.75% Notes. In addition, the Credit Agreement contains covenants that will limit, among other things, Embecta’s ability to prepay, redeem or repurchase its subordinated and junior lien debt, incur additional debt, make acquisitions, merge with other entities, pay dividends or distributions, redeem or repurchase equity interests, and create or become subject to liens.

The following is a summary of Embecta's total debt outstanding as of March 31, 2024:


Term Loan due March 2029	$	931.0
5.00% Notes due February 2030	500.0
6.75% Notes due February 2030	200.0
Total principal debt issued	$	1,631.0
Less: current debt obligations	(9.5)
Less: debt issuance costs and discounts	(29.7)
Long-term debt	$	1,591.8

The debt issuance costs on the Term Loan, 5.00% Notes, 6.75% Notes and the discount on the Term Loan are reported in

the Condensed Consolidated Balance Sheets as a reduction of debt and are amortized as a component of Interest expense, net over the term of the related debt using the effective interest method.

The schedule of principal payments required on long-term debt for the next five fiscal years and thereafter is as follows:


2024	$	4.8
2025	9.5
2026	9.5
2027	9.5
2028	9.5
Thereafter	1,588.2

The estimated fair value of long-term debt (including current portion) at March 31, 2024 was $1,441.8 million compared with a carrying value (which includes a reduction for unamortized debt issuance costs and discounts) of $1,601.3 million. Fair value was estimated using inputs other than quoted prices in active markets for identical assets and liabilities that are observable either directly or indirectly for substantially the full term of the asset or liability and would be considered Level 2 in the fair value hierarchy.

Financial Instruments and Fair Value Measurements - Notional Amounts of Derivative Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2023
Foreign exchange contracts \| Undesignated
Derivative [Line Items]
Notional amount	$ 10.1	$ 6.7

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Right of use assets obtained in exchange for lease liabilities
Financing Leases	$ 0.0	$ 0.0
Operating Leases	1.5	14.0
Cash used for amounts included in the measurement of lease liabilities
Operating cash flows from Operating Leases	2.9	0.9
Financing cash flows from Finance Lease	0.6	1.8
Operating cash flows from Finance Lease	$ 1.2	$ 0.0

Goodwill, Intangible Assets, and Cloud Computing Arrangements (Tables)

6 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets consisted of:


	March 31, 2024		September 30, 2023
Amortized intangible assets
Patents – gross	$	10.6	$	10.6
Less: accumulated amortization	(4.8)		(4.5)
Patents – net	$	5.8	$	6.1
Customer Relationships and Other – gross	$	5.4	$	5.4
Less: accumulated amortization	(2.6)		(2.4)
Customer Relationships and Other – net	$	2.8	$	3.0
Total amortized intangible assets	$	8.6	$	9.1
Goodwill	15.5		15.6
Total Goodwill and Other Intangible Assets	$	24.1	$	24.7

Schedule of Capitalized Computer Software, Net

Capitalized costs to implement cloud computing arrangements at cost and accumulated amortization were as follows:


	March 31, 2024		September 30, 2023
Short-term portion	$	8.4	$	4.0
Long-term portion	50.9		34.0
Total Capitalized implementation costs	$	59.3	$	38.0
Less: accumulated amortization	(1.6)		—
Total Capitalized implementation costs, net	$	57.7	$	38.0

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2023
Finance Leases
2024	$ 1.8
2025	3.7
2026	3.7
2027	3.8
2028	3.9
Thereafter	36.2
Total lease payments	53.1
Less: amount representing interest	18.6
Present value of lease liabilities	34.5	$ 35.1
Operating Leases
2024	4.0
2025	4.7
2026	2.4
2027	1.9
2028	2.1
Thereafter	11.3
Total lease payments	26.4
Less: amount representing interest	6.5
Present value of lease liabilities	19.9	$ 21.3
Total
2024	5.8
2025	8.4
2026	6.1
2027	5.7
2028	6.0
Thereafter	47.5
Total lease payments	79.5
Less: amount representing interest	25.1
Present value of lease liabilities	$ 54.4

Third Party Arrangements and Related Party Disclosures (Details) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Amounts due from Becton, Dickinson and Company	$ 43.3	$ 142.4
Amounts due to Becton, Dickinson and Company	38.5	73.1
Prepaid expenses and other	83.3	111.4
Accrued expenses	119.7	$ 118.1
Becton, Dickinson and Company
Related Party Transaction [Line Items]
Amounts due from Becton, Dickinson and Company	43.3
Amounts due to Becton, Dickinson and Company	38.5
Prepaid expenses and other	18.9
Accrued expenses	$ 7.0

Property, Plant and Equipment (Tables)

6 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, Plant and Equipment, Net consisted of:


	March 31, 2024		September 30, 2023
Land	$	2.3	$	2.3
Buildings	121.0		124.5
Machinery, equipment and fixtures	576.3		567.2
Leasehold improvements	9.1		9.1
Construction in progress	44.2		44.8
	$	752.9	$	747.9
Less: accumulated depreciation	(459.7)		(447.7)
Total Property, Plant and Equipment, Net	$	293.2	$	300.2

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Mar. 31, 2024	Sep. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation expense	$ 42.0
2022 Employee and Director Equity Based Compensation Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Authorized for future grant ( in shares )	2,600,000
Time Vested Restricted Stock Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Awards granted (in shares)	1,393,808
Vesting period	3 years
Granted (in dollars per share)	$ 17.42
Fair value of awards vested	$ 13.8
Remaining vesting term	2 years 1 month 6 days
Share-based compensation arrangement, nonvested, number (in shares)	2,064,700	1,188,800
Weighted average grant date fair value (in dollars per share)	$ 21.59	$ 29.42
Expected to vest (in dollars per share)	$ 21.64
Performance Stock Units (PSUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Awards granted (in shares)	725,912
Remaining vesting term	1 year 8 months 12 days
Share-based compensation arrangement, nonvested, number (in shares)	57,800	57,800
Weighted average grant date fair value (in dollars per share)	$ 30.24	$ 30.24
Vested and expected to vest, outstanding, number (in shares)	54,600
Expected to vest (in dollars per share)	$ 30.24
Performance Stock Units (PSUs) \| Executive Officers and Employees
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Awards granted (in shares)	541,958
Vesting period	3 years
SARs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Remaining vesting term	7 years 2 months 12 days
Awards exercised (in shares)	0

Goodwill, Intangible Assets, and Cloud Computing Arrangements

6 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Intangible Assets, and Cloud Computing Arrangements

Note 10 — Goodwill, Intangible Assets, and Cloud Computing Arrangements

Goodwill and Intangible Assets

Goodwill and Other Intangible Assets consisted of:


	March 31, 2024		September 30, 2023
Amortized intangible assets
Patents – gross	$	10.6	$	10.6
Less: accumulated amortization	(4.8)		(4.5)
Patents – net	$	5.8	$	6.1
Customer Relationships and Other – gross	$	5.4	$	5.4
Less: accumulated amortization	(2.6)		(2.4)
Customer Relationships and Other – net	$	2.8	$	3.0
Total amortized intangible assets	$	8.6	$	9.1
Goodwill	15.5		15.6
Total Goodwill and Other Intangible Assets	$	24.1	$	24.7

Cloud Computing Arrangements

The Company capitalizes costs associated with the development of cloud computing arrangements in a manner consistent with internally developed software. Capitalized costs are included in Prepaid expenses and other and Deferred Income Taxes and Other Assets. Capitalized costs to implement cloud computing arrangements at cost and accumulated amortization were as follows:


	March 31, 2024		September 30, 2023
Short-term portion	$	8.4	$	4.0
Long-term portion	50.9		34.0
Total Capitalized implementation costs	$	59.3	$	38.0
Less: accumulated amortization	(1.6)		—
Total Capitalized implementation costs, net	$	57.7	$	38.0

Costs amortized during the three and six months ended March 31, 2024 were $1.2 million and $1.6 million, respectively, and are included in Other operating expenses. For the three and six months ended March 31, 2023 there were no costs recognized related to the implementation of these cloud computing arrangements due to the timing of when these projects were placed into service. As of March 31, 2024, cloud computing arrangement assets in-service have useful lives which range from approximately three to nine years.

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2023
Current Assets
Cash and equivalents	$ 299.8	$ 326.3
Restricted cash	6.7	0.2
Trade receivables, net (net of allowance for doubtful accounts of $1.6 million and $1.0 million as of March 31, 2024 and September 30, 2023, respectively)	123.7	16.7
Inventories:
Materials	37.4	32.1
Work in process	10.5	8.1
Finished products	105.3	111.9
Total Inventories	153.2	152.1
Amounts due from Becton, Dickinson and Company	43.3	142.4
Prepaid expenses and other	83.3	111.4
Total Current Assets	710.0	749.1
Property, Plant and Equipment, Net	293.2	300.2
Goodwill and Intangible Assets	24.1	24.7
Deferred Income Taxes and Other Assets	172.3	140.4
Total Assets	1,199.6	1,214.4
Current Liabilities
Accounts payable	52.6	53.5
Accrued expenses	119.7	118.1
Amounts due to Becton, Dickinson and Company	38.5	73.1
Salaries, wages and related items	58.5	62.1
Current debt obligations	9.5	9.5
Current finance lease liabilities	3.7	3.6
Income taxes	27.9	33.6
Total Current Liabilities	310.4	353.5
Deferred Income Taxes and Other Liabilities	36.2	57.2
Long-Term Debt	1,591.8	1,593.9
Non Current Finance Lease Liabilities	30.8	31.5
Commitments and Contingencies
Embecta Corp. Equity
Common stock, $0.01 par value Authorized - 250,000,000 Issued and outstanding - 57,661,433 as of March 31, 2024 and 57,333,353 as of September 30, 2023	0.6	0.6
Additional paid-in capital	39.7	27.9
Accumulated deficit	(510.0)	(541.1)
Accumulated other comprehensive loss	(299.9)	(309.1)
Total Equity	(769.6)	(821.7)
Total Liabilities and Equity	$ 1,199.6	$ 1,214.4

Stock-Based Compensation - Restricted Stock Units Activity (Details) - Time Vested Restricted Stock Units	6 Months Ended
	Mar. 31, 2024 $ / shares shares
RSUs (in thousands)
Nonvested, Beginning Balance (in shares) \| shares	1,188,800
Granted (in shares) \| shares	1,393,808
Distributed (in shares) \| shares	(479,700)
Forfeited, canceled or expired (in shares) \| shares	(38,200)
Nonvested, Ending Balance (in shares) \| shares	2,064,700
Expected to vest (in shares) \| shares	1,954,600
Weighted Average Grant Date Fair Value
Nonvested, Beginning Balance (in dollars per share) \| $ / shares	$ 29.42
Granted (in dollars per share) \| $ / shares	17.42
Distributed (in dollars per share) \| $ / shares	28.70
Forfeited, canceled or expired (in dollars per share) \| $ / shares	23.51
Nonvested, Ending Balance (in dollars per share) \| $ / shares	21.59
Expected to vest (in dollars per share) \| $ / shares	$ 21.64

Financial Instruments and Fair Value Measurements - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Cash and equivalents	$ 299.8	$ 326.3
Restricted cash	6.7	0.2
Cash and equivalents and restricted cash	$ 306.5	$ 326.5	$ 346.4	$ 330.9

Revenues	6 Months Ended
Revenues	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Note 7 — Revenues The Company’s policies for recognizing revenue have not changed from those described in the 2023 Form 10-K. The Company sells syringes, pen needles and other products used in the management of diabetes which are primarily sold to wholesalers and distributors that sell to retail and institutional channels who in turn sell to patients or use the products to deliver insulin injections to patients. End-users of the Company’s products include healthcare institutions, physicians, life science researchers, clinical laboratories, the pharmaceutical industry, and the general public. Measurement of Revenues Payment terms extended to the Company’s customers are based upon commercially reasonable terms for the markets in which the Company’s products are sold. Because the Company generally expects to receive payment within one year or less from when control of a product is transferred to the customer, the Company does not generally adjust its revenues for the effects of a financing component. The Company’s allowance for doubtful accounts reflects the current estimate of credit losses expected to be incurred over the life of its trade receivables. Such estimated credit losses are determined based on historical loss experiences, customer specific credit risk, and reasonable and supportable forward-looking information, such as country or regional risks that are not captured in the historical loss information. Amounts are written off against the allowances for doubtful accounts when the Company determines that a customer account is uncollectible. The allowance for doubtful accounts for trade receivables is not material to the Company’s Condensed Consolidated Financial Statements. The Company’s gross revenues are subject to a variety of deductions which are recorded in the same period that the underlying revenues are recognized. Such variable consideration includes rebates, sales discounts, and sales returns. Because these deductions represent estimates of the related obligations, judgment is required when determining the impact of these revenue deductions on gross revenues for a reporting period. Rebates provided by the Company are based upon prices determined under the Company’s agreements primarily with its end-user customers. Additional factors considered in the estimate of the Company’s rebate liability include the quantification of inventory that is either in stock at or in transit to the Company’s distributors, as well as the estimated lag time between the sale of product and the payment of corresponding rebates. The Company’s liability attributed to variable consideration at March 31, 2024 and September 30, 2023 was $177.2 million and $36.4 million, respectively. Sales deductions recorded as a reduction of gross revenues for the three months ended March 31, 2024 and 2023 were $138.5 million and $95.2 million, respectively. Sales deductions recorded as a reduction of gross revenues for the six months ended March 31, 2024 and 2023 were $265.2 million and $187.8 million, respectively. Disaggregation of Revenues Disaggregation of revenue by geographic region is provided within Note 8. Contract Assets and Liabilities The Company does not have contract liabilities. Contract assets consist of the Company’s right to consideration that is conditional upon its future performance pursuant to private label agreements and are presented within Prepaid expenses and other in the Condensed Consolidated Balance Sheets. The Company’s contract asset balance was $1.2 million as of both March 31, 2024 and September 30, 2023.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenues (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Customer rebate liability	$ 177.2		$ 177.2		$ 36.4
Rebates recorded	138.5	$ 95.2	265.2	$ 187.8
Contract asset	$ 1.2		$ 1.2		$ 1.2

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Common dividends (in dollars per share)	$ 0.15	$ 0.15	$ 0.30	$ 0.30

Long-Term Debt - Debt Outstanding (Details) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
Total principal debt issued	$ 1,631.0
Less: current debt obligations	(9.5)	$ (9.5)
Less: debt issuance costs and discounts	(29.7)
Long-term debt	1,591.8	$ 1,593.9
Secured Debt \| Term Loan due March 2029
Debt Instrument [Line Items]
Total principal debt issued	$ 931.0
Senior Notes \| 5.00% Notes due February 2030
Debt Instrument [Line Items]
Stated interest rate	5.00%
Total principal debt issued	$ 500.0
Senior Notes \| 6.75% Notes due February 2030
Debt Instrument [Line Items]
Stated interest rate	6.75%
Total principal debt issued	$ 200.0

Financial Instruments and Fair Value Measurements

6 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Financial Instruments and Fair Value Measurements

Note 14 — Financial Instruments and Fair Value Measurements

The following reconciles Cash and equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets as of March 31, 2024 and September 30, 2023, to the total amounts shown in the Condensed Consolidated Statements of Cash Flows:


	March 31, 2024		September 30, 2023
Cash and equivalents	$	299.8	$	326.3
Restricted cash	6.7		0.2
Cash and equivalents and restricted cash	$	306.5	$	326.5

Cash and equivalents as of March 31, 2024 includes cash held in money market funds and other cash equivalents. All cash and equivalents are Level 1 in the fair value hierarchy. Interest income on Cash and equivalents was $2.9 million and $2.7 million for the three months ended March 31, 2024 and 2023, respectively, and $6.3 million and $3.8 million for the six months ended March 31, 2024 and 2023, respectively, and is included as a component of Interest expense, net. Restricted cash consists of cash not readily available for use in the Company's operating activities. The Company's restricted cash balance is primarily pledged as collateral for bank guarantees related to certain customer performance guarantees and property leases internationally.

Foreign Currency Risks and Related Strategies

The Company has foreign currency exposures throughout Europe, Asia, Canada and Latin America. Transactional currency exposures that arise from entering into transactions, generally on an intercompany basis, in non-hyperinflationary countries that are denominated in currencies other than the functional currency are mitigated primarily through the use of forward contracts.

The notional amounts of the Company’s foreign currency-related derivative instruments were as follows as of March 31, 2024 and September 30, 2023, respectively:


	Hedge Designation	March 31, 2024		September 30, 2023
Foreign exchange contracts (a)	Undesignated	$	10.1	$	6.7

a.Represent hedges of transactional foreign exchange exposures resulting primarily from intercompany payables and receivables. Gains and losses on these instruments are recognized immediately in Other income (expense), net. These gains and losses are largely offset by gains and losses on the underlying hedged items, as well as the hedging costs associated with the derivative instruments. Gains and losses recognized to date on these instruments were not material to the Company's Condensed Consolidated Financial Statements.

Nonrecurring Fair Value Measurements

Non-financial assets, including property, plant and equipment as well as intangible assets, are measured at fair value when there are indicators of impairment and these assets are recorded at fair value only when an impairment is recognized. These measurements of fair value are generally based upon Level 3 inputs, including values estimated using the income approach.

Concentration of Credit Risk

Three of the Company’s customers represented at least 10.0% of total gross revenues individually and, in the aggregate, represented approximately 42.0% for the three months ended March 31, 2024, and three of the Company's customers represented at least 10.0% of total gross revenues individually and, in the aggregate, represented approximately 42.0% of total revenues for the six months ended March 31, 2024.

Four of the Company's customers represented at least 10.0% of total gross trade receivables individually and, in the aggregate, represented approximately 63.6% as of March 31, 2024.

Substantially all of the Company’s trade receivables are due from public and private entities involved in the healthcare industry. The Company does not normally require collateral from its customers.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Earnings per Share (Tables)

6 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings per Share

The calculation of earnings per basic and diluted common share for the three and six months ended March 31, 2024 and 2023 was as follows:


	Three Months Ended March 31,				Six Months Ended March 31,
($ in millions and shares in thousands, except per share amounts)	2024		2023		2024		2023
Net Income attributable to Embecta	$	28.9	$	14.0	$	49.0	$	49.2

Basic weighted average number of shares outstanding	57,687		57,260		57,580		57,186
Stock awards and equity units (share equivalent)	120		253		396		426
Diluted weighted average shares outstanding	57,807		57,513		57,976		57,612

Earnings per common share - Basic	$	0.50	$	0.24	$	0.85	$	0.86
Earnings per common share - Diluted	$	0.50	$	0.24	$	0.85	$	0.85

Earnings per Share

6 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings per Share

Note 12 — Earnings per Share

The calculation of earnings per basic and diluted common share for the three and six months ended March 31, 2024 and 2023 was as follows:


	Three Months Ended March 31,				Six Months Ended March 31,
($ in millions and shares in thousands, except per share amounts)	2024		2023		2024		2023
Net Income attributable to Embecta	$	28.9	$	14.0	$	49.0	$	49.2

Basic weighted average number of shares outstanding	57,687		57,260		57,580		57,186
Stock awards and equity units (share equivalent)	120		253		396		426
Diluted weighted average shares outstanding	57,807		57,513		57,976		57,612

Earnings per common share - Basic	$	0.50	$	0.24	$	0.85	$	0.86
Earnings per common share - Diluted	$	0.50	$	0.24	$	0.85	$	0.85

Earnings per diluted share is computed by giving effect to all potentially dilutive stock awards that are outstanding. The computation of earnings per diluted share excludes the effect of the potential exercise of stock-based awards, when the effect of the potential exercise would be anti-dilutive. For the three months ended March 31, 2024 and 2023, 4.2 million and 2.2 million, respectively, and for the six months ended March 31, 2024 and 2023, 2.8 million and 1.8 million, respectively, of dilutive share equivalents issuable under stock-based compensation plans were excluded from the diluted shares outstanding calculation because the result would have been antidilutive.

Background	6 Months Ended
Background	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background	Note 1 — Background Embecta Corp. ("Embecta" or the "Company") is a leading global medical device company focused on providing solutions to improve the health and well-being of people living with diabetes. The Company has a broad portfolio of marketed products, including a variety of pen needles, syringes and safety devices, which are complemented by a proprietary digital application designed to assist people with managing their diabetes. The Company primarily sells products to wholesalers and distributors that sell to retail and institutional channels who in turn sell to patients or use the products to deliver insulin injections to patients.

Segment and Geographical Data

6 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment and Geographical Data

Note 8 — Segment and Geographical Data

Operating segments are identified as components of an enterprise in which discrete financial information is available for evaluation by the chief operating decision-maker (“CODM”) in making decisions regarding assessing business performance and allocating resources and capital. Management has concluded that the Company operates in one segment based upon the information used by the CODM in evaluating the performance of the Company’s business and allocating resources and capital.

Disaggregation of Revenues

The Company has distribution agreements with regional or national distributors (including wholesalers and medical suppliers) to ensure broad availability of its products as well as a direct sales force in certain countries and regions around

the world. In the United States and Canada, the Company utilizes its large and small key account managers that call on payers, retailers, wholesalers and institutional customers, and field-based territory managers that call on health care providers and pharmacies. In certain markets within Europe, the Company has dedicated sales representatives and in certain regions of the Middle East and Africa, the Company has distribution agreements. In Asia, the Company has distribution agreements, and in China the Company relies on its own commercial team to support sales execution. In Latin America, the Company maintains distribution agreements and direct sales representatives.

The Company disaggregates its revenue by geography as management believes this category best depicts how the nature, amount, and timing of revenues and cash flows are affected by economic factors.

Revenues by geographic region are as follows:


	Three months ended March 31,				Six months ended March 31,
	2024		2023		2024		2023
United States	$	147.6	$	146.4	$	296.2	$	295.7
International(1)	139.6		130.7		268.3		257.1
Total	$	287.2	$	277.1	$	564.5	$	552.8

(1)For the three and six months ended March 31, 2024 and 2023, no individual country outside of the United States generated net revenues that represented more than 10.0% of total revenues.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 32
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Property, Plant and Equipment

6 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 15 — Property, Plant and Equipment

Property, Plant and Equipment, Net consisted of:


	March 31, 2024		September 30, 2023
Land	$	2.3	$	2.3
Buildings	121.0		124.5
Machinery, equipment and fixtures	576.3		567.2
Leasehold improvements	9.1		9.1
Construction in progress	44.2		44.8
	$	752.9	$	747.9
Less: accumulated depreciation	(459.7)		(447.7)
Total Property, Plant and Equipment, Net	$	293.2	$	300.2

Property, Plant and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 752.9	$ 747.9
Less: accumulated depreciation	(459.7)	(447.7)
Total Property, Plant and Equipment, Net	293.2	300.2
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment	2.3	2.3
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment	121.0	124.5
Machinery, equipment and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment	576.3	567.2
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment	9.1	9.1
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 44.2	$ 44.8

Collaboration Agreement	6 Months Ended
Collaboration Agreement	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration Agreement	Note 4 — Collaboration Agreement In March 2023, the Company entered into a collaboration agreement with a third-party to develop and commercialize an interoperable automated glycemic controller ("iAGC") to complement the Company's insulin patch pump currently in development. The Company believes that both parties are active participants in the operating activities of the collaboration and exposed to certain risks and rewards depending on commercial success. The transaction included an upfront payment of $2.5 million for project costs, which was expensed to Research and development expense during the six month period ended March 31, 2023. Upon successful commercialization of the iAGC, the Company will be responsible for the sales and marketing effort and would pay a royalty to the third-party based on future product sales to customers. The Company expects that it will be the principal in the end customer sale and 100% of product sales will be included in Revenues and any royalty payments and continued project costs after commercialization will be included in Cost of products sold as they are incurred.

Goodwill, Intangible Assets, and Cloud Computing Arrangements - Schedule of Capitalized Computer Software, Net (Details) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Short-term portion	$ 8.4	$ 4.0
Long-term portion	50.9	34.0
Total Capitalized implementation costs	59.3	38.0
Less: accumulated amortization	(1.6)	0.0
Total Capitalized implementation costs, net	$ 57.7	$ 38.0

Leases - Additional Information (Details)	Mar. 31, 2024
Leases [Abstract]
Term of finance lease	10 years
Finance lease renewal term	5 years

Segment and Geographical Data (Details) $ in Millions	3 Months Ended		6 Months Ended
Segment and Geographical Data (Details) $ in Millions	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)
Segment Reporting [Abstract]
Number of operating segments \| segment			1
Segment Reporting Information [Line Items]
Revenues	$ 287.2	$ 277.1	$ 564.5	$ 552.8
United States
Segment Reporting Information [Line Items]
Revenues	147.6	146.4	296.2	295.7
International
Segment Reporting Information [Line Items]
Revenues	$ 139.6	$ 130.7	$ 268.3	$ 257.1

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 30
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Long-Term Debt - Additional Information (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2024
Level 2 \| Fair Value
Debt Instrument [Line Items]
Long-term debt		$ 1,441,800,000
Level 2 \| Reported Value Measurement
Debt Instrument [Line Items]
Long-term debt		1,601,300,000
Term Loan due March 2029 \| Secured Debt
Debt Instrument [Line Items]
Face amount	$ 950,000,000
Term	7 years
Discount percentage	0.50%
Quarterly payment as a percentage of principal	0.25%
Term Loan due March 2029 \| Secured Debt \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%
Variable rate floor	0.50%
Revolving Credit Facility \| Secured Debt \| Revolving Credit Facility
Debt Instrument [Line Items]
Term	5 years
Maximum borrowing capacity	$ 500,000,000
Commitment fee percentage	0.25%
Amount drawn		$ 0
5.00% Senior Secured Notes due 2030 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate		5.00%
6.75% Senior Secured Notes due 2030 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate		6.75%

Long-Term Debt (Tables)

6 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt Outstanding

The following is a summary of Embecta's total debt outstanding as of March 31, 2024:


Term Loan due March 2029	$	931.0
5.00% Notes due February 2030	500.0
6.75% Notes due February 2030	200.0
Total principal debt issued	$	1,631.0
Less: current debt obligations	(9.5)
Less: debt issuance costs and discounts	(29.7)
Long-term debt	$	1,591.8

Schedule of Principal Payments Required on Long-Term Debt

The schedule of principal payments required on long-term debt for the next five fiscal years and thereafter is as follows:


2024	$	4.8
2025	9.5
2026	9.5
2027	9.5
2028	9.5
Thereafter	1,588.2

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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

Leases

6 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

Note 16 — Leases

Finance Leases

The Company's finance lease assets and liabilities are attributed to its manufacturing site in Holdrege, Nebraska, which has an initial term of ten years and an option for the Company to extend the lease term for an additional period of up to five years. This lease is classified as a finance lease because the present value of the sum of the lease payments associated with the lease exceeds substantially all of the fair value of the manufacturing site.

Operating Leases

The Company's operating leases primarily relate to its real estate leases that are not classified as finance leases.

Aggregate Lease Information

The Company's leases are included in its Condensed Consolidated Balance Sheets as follows:


	March 31, 2024			September 30, 2023
Finance Leases
Property, Plant, and Equipment, Net	$	32.0		$	33.1
Total Finance Lease Assets	$	32.0		$	33.1

Current finance lease liabilities	$	3.7		$	3.6
Non Current Finance Lease Liabilities	30.8			31.5
Total Finance Lease Liabilities	$	34.5		$	35.1

Weighted-average remaining lease term (years)	13.0			13.5
Weighted-average discount rate	6.8		%	6.8		%

Operating Leases
Other Assets	$	21.6		$	23.0
Total Operating Lease Assets	$	21.6		$	23.0

Accrued expenses	$	5.9		$	5.9
Deferred Income Taxes and Other Liabilities	14.0			15.4
Total Operating Lease Liabilities	$	19.9		$	21.3

Weighted-average remaining lease term (years)	6.8			7.3
Weighted-average discount rate	6.7		%	6.9		%

Supplemental cash flow information related to leases for the six months ended March 31, 2024 and 2023 were as follows:


	March 31, 2024		March 31, 2023
Right of use assets obtained in exchange for lease liabilities
Financing Leases	$	—	$	—
Operating Leases	1.5		14.0


	March 31, 2024		March 31, 2023
Cash used for amounts included in the measurement of lease liabilities
Operating cash flows from Operating Leases	$	2.9	$	0.9
Financing cash flows from Finance Lease	0.6		1.8
Operating cash flows from Finance Lease	1.2		—

Maturities of the Company's finance and operating lease liabilities as of March 31, 2024 by fiscal year are as follows:


	Finance Leases		Operating Leases		Total
2024	$	1.8	$	4.0	$	5.8
2025	3.7		4.7		8.4
2026	3.7		2.4		6.1
2027	3.8		1.9		5.7
2028	3.9		2.1		6.0
Thereafter	36.2		11.3		47.5
Total lease payments	$	53.1	$	26.4	$	79.5
Less: amount representing interest	18.6		6.5		25.1
Present value of lease liabilities	$	34.5	$	19.9	$	54.4

Leases

Note 16 — Leases

Finance Leases

Operating Leases

The Company's operating leases primarily relate to its real estate leases that are not classified as finance leases.

Aggregate Lease Information

The Company's leases are included in its Condensed Consolidated Balance Sheets as follows:


	March 31, 2024			September 30, 2023
Finance Leases
Property, Plant, and Equipment, Net	$	32.0		$	33.1
Total Finance Lease Assets	$	32.0		$	33.1

Current finance lease liabilities	$	3.7		$	3.6
Non Current Finance Lease Liabilities	30.8			31.5
Total Finance Lease Liabilities	$	34.5		$	35.1

Weighted-average remaining lease term (years)	13.0			13.5
Weighted-average discount rate	6.8		%	6.8		%

Operating Leases
Other Assets	$	21.6		$	23.0
Total Operating Lease Assets	$	21.6		$	23.0

Accrued expenses	$	5.9		$	5.9
Deferred Income Taxes and Other Liabilities	14.0			15.4
Total Operating Lease Liabilities	$	19.9		$	21.3

Weighted-average remaining lease term (years)	6.8			7.3
Weighted-average discount rate	6.7		%	6.9		%

Supplemental cash flow information related to leases for the six months ended March 31, 2024 and 2023 were as follows:


	March 31, 2024		March 31, 2023
Right of use assets obtained in exchange for lease liabilities
Financing Leases	$	—	$	—
Operating Leases	1.5		14.0


	March 31, 2024		March 31, 2023
Cash used for amounts included in the measurement of lease liabilities
Operating cash flows from Operating Leases	$	2.9	$	0.9
Financing cash flows from Finance Lease	0.6		1.8
Operating cash flows from Finance Lease	1.2		—

Maturities of the Company's finance and operating lease liabilities as of March 31, 2024 by fiscal year are as follows:


	Finance Leases		Operating Leases		Total
2024	$	1.8	$	4.0	$	5.8
2025	3.7		4.7		8.4
2026	3.7		2.4		6.1
2027	3.8		1.9		5.7
2028	3.9		2.1		6.0
Thereafter	36.2		11.3		47.5
Total lease payments	$	53.1	$	26.4	$	79.5
Less: amount representing interest	18.6		6.5		25.1
Present value of lease liabilities	$	34.5	$	19.9	$	54.4

Income Taxes	6 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 13 — Income Taxes The Company is subject to income tax in the various jurisdictions in which it operates. A significant portion of the Company's earnings are taxed in jurisdictions with tax rates that are lower than the statutory tax rate of the United States. The effective tax rate can change from quarter to quarter because of variability in global pretax income or geographical mix of the Company's earnings, changes in tax laws and matters related to tax audits. The effective tax rates were (191.9)% and 42.9% for the three months ended March 31, 2024 and 2023, respectively. The decrease in the Company’s effective tax rate from the prior comparative period is primarily due to lower withholding taxes on undistributed foreign earnings which includes a discrete tax benefit of approximately $18.8 million related to Swiss withholding taxes from prior years, reduced unrecognized tax benefits, and lower income in the current period which increases the variability of the effective tax rate. The effective tax rates were (102.5)% and 39.0% for the six months ended March 31, 2024 and 2023, respectively. The decrease in the Company’s effective tax rate from the prior comparative period is primarily due to lower withholding taxes on undistributed foreign earnings which includes a discrete tax benefit of approximately $18.8 million related to Swiss withholding taxes from prior years, a tax benefit of approximately $17.1 million for the establishment of a deferred tax asset attributed to a higher Swiss cantonal tax rate and additional tax basis that is amortizable for income tax purposes over a period of seven years, reduced unrecognized tax benefits, and

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Other Operating Expenses	6 Months Ended
Other Operating Expenses	Mar. 31, 2024
Other Income and Expenses [Abstract]
Other Operating Expenses	Note 5 — Other Operating Expenses In connection with the Separation, the Company incurred separation and stand-up costs of approximately $32.6 million and $59.0 million during the three and six months ended March 31, 2024, respectively, and incurred separation and stand-up costs of approximately $25.6 million and $35.5 million during the three and six months ended March 31, 2023, respectively. The costs incurred primarily consist of costs associated with accounting, auditing, legal services, marketing, supply chain, employee retention, the implementation of the Company's new ERP system, and certain other costs to establish certain Business Continuity Processes and stand-alone functions to assist with the transition to being a stand-alone entity.

Stock-Based Compensation - SARs Outstanding and the Changes (Details) - SARs $ / shares in Units, $ in Millions	6 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
SARs (in thousands)
Outstanding, Beginning Balance (in shares) \| shares	1,831,700
Forfeited, canceled or expired (in shares) \| shares	(45,300)
Outstanding, Ending Balance (in shares) \| shares	1,786,400
Vested and expected to vest (in shares) \| shares	1,733,800
Exercisable (in shares) \| shares	829,600
Weighted Average Exercise Price
Outstanding, Beginning Balance (in dollars per share) \| $ / shares	$ 29.06
Forfeited, canceled or expired (in dollars per share) \| $ / shares	27.36
Outstanding, Ending Balance (in dollars per share) \| $ / shares	29.10
Vested and expected to vest, Weighted Average Exercise Price (in dollars per share) \| $ / shares	29.07
Exercisable, Weighted Average Exercise Price (in dollars per share) \| $ / shares	$ 27.84
Additional Disclosures
Weighted Average Remaining Term of Awards	7 years 2 months 12 days
Vested and expected to vest, Weighted Average Remaining Contractual Term	7 years 2 months 12 days
Exercisable, Weighted Average Remaining Contractual Term	6 years 6 months
Outstanding, Aggregate Intrinsic Value \| $	$ 0.0
Vested and expected to vest, Aggregate Intrinsic Value \| $	0.0
Exercisable, Aggregate Intrinsic Value \| $	$ 0.0

Leases (Tables)

6 Months Ended

Mar. 31, 2024

Leases [Abstract]

Schedule of Balance Sheet Information

The Company's leases are included in its Condensed Consolidated Balance Sheets as follows:


	March 31, 2024			September 30, 2023
Finance Leases
Property, Plant, and Equipment, Net	$	32.0		$	33.1
Total Finance Lease Assets	$	32.0		$	33.1

Current finance lease liabilities	$	3.7		$	3.6
Non Current Finance Lease Liabilities	30.8			31.5
Total Finance Lease Liabilities	$	34.5		$	35.1

Weighted-average remaining lease term (years)	13.0			13.5
Weighted-average discount rate	6.8		%	6.8		%

Operating Leases
Other Assets	$	21.6		$	23.0
Total Operating Lease Assets	$	21.6		$	23.0

Accrued expenses	$	5.9		$	5.9
Deferred Income Taxes and Other Liabilities	14.0			15.4
Total Operating Lease Liabilities	$	19.9		$	21.3

Weighted-average remaining lease term (years)	6.8			7.3
Weighted-average discount rate	6.7		%	6.9		%

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information related to leases for the six months ended March 31, 2024 and 2023 were as follows:


	March 31, 2024		March 31, 2023
Right of use assets obtained in exchange for lease liabilities
Financing Leases	$	—	$	—
Operating Leases	1.5		14.0


	March 31, 2024		March 31, 2023
Cash used for amounts included in the measurement of lease liabilities
Operating cash flows from Operating Leases	$	2.9	$	0.9
Financing cash flows from Finance Lease	0.6		1.8
Operating cash flows from Finance Lease	1.2		—

Schedule of Maturities of Finance Lease Liabilities

Maturities of the Company's finance and operating lease liabilities as of March 31, 2024 by fiscal year are as follows:


	Finance Leases		Operating Leases		Total
2024	$	1.8	$	4.0	$	5.8
2025	3.7		4.7		8.4
2026	3.7		2.4		6.1
2027	3.8		1.9		5.7
2028	3.9		2.1		6.0
Thereafter	36.2		11.3		47.5
Total lease payments	$	53.1	$	26.4	$	79.5
Less: amount representing interest	18.6		6.5		25.1
Present value of lease liabilities	$	34.5	$	19.9	$	54.4

Schedule of Maturities of Operating Lease Liabilities

Maturities of the Company's finance and operating lease liabilities as of March 31, 2024 by fiscal year are as follows:


	Finance Leases		Operating Leases		Total
2024	$	1.8	$	4.0	$	5.8
2025	3.7		4.7		8.4
2026	3.7		2.4		6.1
2027	3.8		1.9		5.7
2028	3.9		2.1		6.0
Thereafter	36.2		11.3		47.5
Total lease payments	$	53.1	$	26.4	$	79.5
Less: amount representing interest	18.6		6.5		25.1
Present value of lease liabilities	$	34.5	$	19.9	$	54.4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating Activities
Net Income	$ 49.0	$ 49.2
Adjustments to net income to derive net cash provided by operating activities:
Depreciation and amortization	17.8	15.2
Amortization of debt issuance costs	3.2	3.2
Amortization of cloud computing arrangements	1.6	0.0
Stock-based compensation	13.8	11.1
Deferred income taxes	(39.6)	1.2
Change in operating assets and liabilities:
Trade receivables, net	(106.7)	4.3
Inventories	2.0	(30.7)
Due from/due to Becton, Dickinson and Company	64.3	(14.9)
Prepaid expenses and other	36.5	(16.0)
Accounts payable, accrued expenses and other current liabilities	0.4	19.7
Income and other net taxes payable	(7.0)	10.6
Other assets and liabilities, net	(24.1)	(5.5)
Net Cash Provided by Operating Activities	11.2	47.4
Investing Activities
Capital expenditures	(6.1)	(10.5)
Net Cash Used for Investing Activities	(6.1)	(10.5)
Financing Activities
Payments on long-term debt	(4.8)	(4.8)
Payments related to tax withholding for stock-based compensation	(2.7)	(3.0)
Payments on finance lease	(0.6)	(1.8)
Dividend payments	(17.2)	(17.2)
Net Cash Used for Financing Activities	(25.3)	(26.8)
Effect of exchange rate changes on cash and equivalents and restricted cash	0.2	5.4
Net Change in Cash and equivalents and restricted cash	(20.0)	15.5
Opening Cash and equivalents and restricted cash	326.5	330.9
Closing Cash and equivalents and restricted cash	$ 306.5	$ 346.4

Third Party Arrangements and Related Party Disclosures	6 Months Ended
Third Party Arrangements and Related Party Disclosures	Mar. 31, 2024
Third Party and Related Party Transactions [Abstract]
Third Party Arrangements and Related Party Disclosures	Note 3 — Third Party Arrangements and Related Party Disclosures On April 1, 2022, Embecta and Becton, Dickinson and Company ("BD") entered into a Separation and Distribution Agreement (the "Separation and Distribution Agreement"). Pursuant to the Separation and Distribution Agreement, BD agreed to spin off its diabetes care business (the "Diabetes Care Business") into Embecta, a new, publicly traded company (the "Separation"). In connection with the Separation, the Company entered into the Separation and Distribution Agreement, which contains provisions that, among other things, relate to (i) assets, liabilities and contracts to be transferred, assumed and assigned to each of Embecta and BD (including certain deferred assets and liabilities) as part of the Separation, (ii) cross-indemnities principally designed to place financial responsibility for the obligations and liabilities of Embecta's business with Embecta and financial responsibility for the obligations and liabilities of BD’s remaining businesses with BD, (iii) procedures with respect to claims subject to indemnification and related matters, (iv) the allocation among Embecta and BD of rights and obligations under existing insurance policies with respect to occurrences prior to completion of the Separation, as well as the right to proceeds and the obligation to incur certain deductibles under certain insurance policies, and (v) procedures governing Embecta’s and BD’s obligations and allocations of liabilities with respect to ongoing litigation matters that may implicate each of BD’s business and Embecta’s business. Agreements that Embecta entered into with BD that govern aspects of Embecta's relationship with BD following the Separation include, but are not limited to the Transition Services Agreements ("TSA"), Trade Receivables Factoring Agreements ("Factoring Agreements"), Distribution Agreements, Cannula Supply Agreement, Tax Matters Agreement, Logistics Services Agreement ("LSA"), employee matters agreement, an intellectual property matters agreement, local support services agreements, certain other manufacturing arrangements and a process services agreement and lease agreement for a manufacturing facility located in Holdrege, Nebraska. For details on the rights and responsibilities of the parties under these agreements refer to Note 4 to the audited Consolidated Financial Statements in Embecta’s Annual Report on Form 10-K for the year ended September 30, 2023 filed with the Securities and Exchange Commission on November 29, 2023 (the “2023 Form 10-K”). On March 28, 2024, we entered into (i) a second amendment (the “TSA Amendment”) to the TSA, dated as of March 31, 2022 and previously amended as of July 1, 2022 by and between Embecta and BD, and (ii) a second amendment (the “LSA Amendment”) to the LSA, dated January 1, 2022 and previously amended as of November 20, 2023, by and between Embecta and BD. Pursuant to the TSA and the LSA, originally entered into in connection with the Separation, Embecta and BD and their respective affiliates provide each other, on an interim, transitional basis, the Business Continuity Processes. Under the TSA Amendment and the LSA Amendment, BD granted Embecta, among other things, a limited extension until November 1, 2024 of certain services in a limited set of markets to support the Business Continuity Processes. As of March 31, 2024, all factoring agreements between Embecta and BD have expired and terminated as a result of the Company's implementation and onboarding of certain systems and services, including, but not limited to, information technology, procurement, quality and regulatory affairs, medical affairs, tax and treasury services, distribution logistics, and shared services infrastructure support for order-to-cash, source-to-pay, and record-to-report, which, for clarity, includes enterprise resource planning (“ERP”) systems (“Business Continuity Processes”) in North America, and certain jurisdictions in Europe and Asia. The amount due from BD under the above agreements was $43.3 million at March 31, 2024 and is included in Amounts due from Becton, Dickinson and Company. The amount due to BD under these agreements was $38.5 million at March 31, 2024 and is included in Amounts due to Becton, Dickinson and Company. The closing of the transfers of certain assets and liabilities related to the Diabetes Care Business in certain jurisdictions, including China, Mexico, Taiwan, India, Brazil, and Colombia as contemplated by the Separation and Distribution Agreement did not occur at Separation. The transfers of the relevant local assets and liabilities in these certain jurisdictions are expected to close at a future date. As of March 31, 2024, the Company estimates that amounts due from BD related to certain assets and liabilities in these certain jurisdictions are $18.9 million and are reflected in Prepaid expenses and other. As of March 31, 2024, the Company estimates that amounts due to BD related to certain assets and liabilities in these certain jurisdictions is $7.0 million and are reflected in Accrued expenses.

Condensed Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income
Beginning balance (in shares) at Sep. 30, 2022		57,055,327
Beginning balance at Sep. 30, 2022	$ (891.4)	$ 0.6	$ 10.0	$ (577.1)	$ (324.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	49.2			49.2
Other comprehensive income (loss), net of taxes	28.7				28.7
Stock-based compensation plans	11.1		11.1
Dividends and dividend equivalents declared	(17.2)			(17.2)
Issuance of shares related to share-based compensation plans (in shares)		232,210
Issuance of shares related to stock-based compensation plans	(3.0)		(3.0)
Ending balance (in shares) at Mar. 31, 2023		57,287,537
Ending balance at Mar. 31, 2023	(822.6)	$ 0.6	18.1	(545.1)	(296.2)
Beginning balance (in shares) at Dec. 31, 2022		57,213,757
Beginning balance at Dec. 31, 2022	(836.1)	$ 0.6	12.7	(550.5)	(298.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14.0			14.0
Other comprehensive income (loss), net of taxes	2.7				2.7
Stock-based compensation plans	5.6		5.6
Dividends and dividend equivalents declared	(8.6)			(8.6)
Issuance of shares related to share-based compensation plans (in shares)		73,780
Issuance of shares related to stock-based compensation plans	(0.2)		(0.2)
Ending balance (in shares) at Mar. 31, 2023		57,287,537
Ending balance at Mar. 31, 2023	$ (822.6)	$ 0.6	18.1	(545.1)	(296.2)
Beginning balance (in shares) at Sep. 30, 2023	57,333,353	57,333,353
Beginning balance at Sep. 30, 2023	$ (821.7)	$ 0.6	27.9	(541.1)	(309.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	49.0			49.0
Other comprehensive income (loss), net of taxes	9.2				9.2
Stock-based compensation plans	13.8		13.8
Dividends and dividend equivalents declared	(17.2)		0.7	(17.9)
Issuance of shares related to share-based compensation plans (in shares)		328,080
Issuance of shares related to stock-based compensation plans	$ (2.7)		(2.7)
Ending balance (in shares) at Mar. 31, 2024	57,661,433	57,661,433
Ending balance at Mar. 31, 2024	$ (769.6)	$ 0.6	39.7	(510.0)	(299.9)
Beginning balance (in shares) at Dec. 31, 2023		57,573,497
Beginning balance at Dec. 31, 2023	(793.5)	$ 0.6	33.4	(530.0)	(297.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	28.9			28.9
Other comprehensive income (loss), net of taxes	(2.4)				(2.4)
Stock-based compensation plans	6.5		6.5
Dividends and dividend equivalents declared	(8.6)		0.3	(8.9)
Issuance of shares related to share-based compensation plans (in shares)		87,936
Issuance of shares related to stock-based compensation plans	$ (0.5)		(0.5)
Ending balance (in shares) at Mar. 31, 2024	57,661,433	57,661,433
Ending balance at Mar. 31, 2024	$ (769.6)	$ 0.6	$ 39.7	$ (510.0)	$ (299.9)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Segment and Geographical Data (Tables)

6 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Revenues by Geographical Region

Revenues by geographic region are as follows:


	Three months ended March 31,				Six months ended March 31,
	2024		2023		2024		2023
United States	$	147.6	$	146.4	$	296.2	$	295.7
International(1)	139.6		130.7		268.3		257.1
Total	$	287.2	$	277.1	$	564.5	$	552.8

(1)For the three and six months ended March 31, 2024 and 2023, no individual country outside of the United States generated net revenues that represented more than 10.0% of total revenues.

Stock-Based Compensation (Tables)

6 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule and Location of Compensation Cost

Total stock-based compensation expense for the three and six months ended March 31, 2024 and 2023 and the respective income tax benefits recognized by the Company in the Condensed Consolidated Statements of Income are as follows:


	Three months ended March 31,				Six months ended March 31,
	2024		2023		2024		2023
Cost of products sold	$	1.1	$	0.6	$	2.0	$	1.2
Selling and administrative expense	4.9		4.7		10.8		9.3
Research and development expense	0.5		0.5		1.1		0.8
Total Stock-Based Compensation Expense	$	6.5	$	5.8	$	13.9	$	11.3
Tax benefit associated with stock-based compensation costs recognized	$	0.5	$	0.7	$	1.2	$	1.5

The following table summarizes the Company's total stock-based compensation expense by classification of award for the three and six months ended March 31, 2024 and 2023:


	Three months ended March 31,				Six Months Ended March 31,
	2024		2023		2024		2023
Equity Awards	$	6.5	$	5.6	$	13.8	$	11.1
Liability Awards	—		0.2		0.1		0.2
Total	$	6.5	$	5.8	$	13.9	$	11.3

The following table summarizes the Company's total stock-based compensation expense by award type for the three and six months ended March 31, 2024 and 2023:


	Three months ended March 31,				Six Months Ended March 31,
	2024		2023		2024		2023
Time-Vested Restricted Stock Units (TVUs)	$	5.2	$	4.0	$	10.6	$	8.1
Performance-Based Restricted Stock Units (PSUs)	0.4		0.6		1.3		0.7
Stock Appreciation Rights (SARs)	0.9		1.2		2.0		2.5
Total	$	6.5	$	5.8	$	13.9	$	11.3

Schedule of Restricted Stock Units Outstanding and Changes

A summary of TVUs outstanding as of March 31, 2024 and changes during the six months ended March 31, 2024 are as follows:


	RSUs (in thousands)	Weighted Average Grant Date Fair Value
Nonvested at October 1	1,188.8	$	29.42
Granted*	1,393.8	17.42
Distributed**	(479.7)	28.70
Forfeited, canceled or expired	(38.2)	23.51
Nonvested at March 31	2,064.7	$	21.59
Expected to vest at March 31	1,954.6	$	21.64

*Includes accumulated nonvested dividend equivalents
**The RSUs distributed include shares withheld for taxes that are not formally issued to the market.

Schedule of SAR's Outstanding

A summary of stock appreciation rights ("SARs") outstanding as of March 31, 2024 and changes during the six months ended March 31, 2024 are as follows:


	SARs (in thousands)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Balance at October 1	1,831.7	$	29.06


Forfeited, canceled or expired	(45.3)	27.36
Balance at March 31	1,786.4	$	29.10	7.2	$	—
Vested and expected to vest at March 31	1,733.8	29.07		7.2	$	—
Exercisable at March 31	829.6	$	27.84	6.5	$	—

Other Operating Expenses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Other Operating Expenses (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Other Income and Expenses [Abstract]
Separation and stand-up costs	$ 32.6	$ 25.6	$ 59.0	$ 35.5

Stock-Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	$ 6.5	$ 5.8	$ 13.9	$ 11.3
Tax benefit associated with stock-based compensation costs recognized	0.5	0.7	1.2	1.5
Equity Awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	6.5	5.6	13.8	11.1
Liability Awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	0.0	0.2	0.1	0.2
Time-Vested Restricted Stock Units (TVUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	5.2	4.0	10.6	8.1
Performance-Based Restricted Stock Units (PSUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	0.4	0.6	1.3	0.7
Stock Appreciation Rights (SARs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	0.9	1.2	2.0	2.5
Cost of products sold
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	1.1	0.6	2.0	1.2
Selling and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	4.9	4.7	10.8	9.3
Research and development expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	$ 0.5	$ 0.5	$ 1.1	$ 0.8

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2023
Statement of Financial Position [Abstract]
Trade receivables, allowance for doubtful accounts	$ 1.6	$ 1.0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	250,000,000	250,000,000
Common stock, issued (in shares)	57,661,433	57,333,353
Common stock, outstanding (in shares)	57,661,433	57,333,353

Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Cash and Equivalents


	March 31, 2024		September 30, 2023
Cash and equivalents	$	299.8	$	326.3
Restricted cash	6.7		0.2
Cash and equivalents and restricted cash	$	306.5	$	326.5

Schedule of Restricted Cash


	March 31, 2024		September 30, 2023
Cash and equivalents	$	299.8	$	326.3
Restricted cash	6.7		0.2
Cash and equivalents and restricted cash	$	306.5	$	326.5

Schedule of Notional Amounts of Derivative Instruments

The notional amounts of the Company’s foreign currency-related derivative instruments were as follows as of March 31, 2024 and September 30, 2023, respectively:


	Hedge Designation	March 31, 2024		September 30, 2023
Foreign exchange contracts (a)	Undesignated	$	10.1	$	6.7

Stock-Based Compensation

6 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Note 9 — Stock-Based Compensation

Stock-Based Compensation Expense


	Three months ended March 31,				Six months ended March 31,
	2024		2023		2024		2023
Cost of products sold	$	1.1	$	0.6	$	2.0	$	1.2
Selling and administrative expense	4.9		4.7		10.8		9.3
Research and development expense	0.5		0.5		1.1		0.8
Total Stock-Based Compensation Expense	$	6.5	$	5.8	$	13.9	$	11.3
Tax benefit associated with stock-based compensation costs recognized	$	0.5	$	0.7	$	1.2	$	1.5

The following table summarizes the Company's total stock-based compensation expense by classification of award for the three and six months ended March 31, 2024 and 2023:


	Three months ended March 31,				Six Months Ended March 31,
	2024		2023		2024		2023
Equity Awards	$	6.5	$	5.6	$	13.8	$	11.1
Liability Awards	—		0.2		0.1		0.2
Total	$	6.5	$	5.8	$	13.9	$	11.3

The following table summarizes the Company's total stock-based compensation expense by award type for the three and six months ended March 31, 2024 and 2023:


	Three months ended March 31,				Six Months Ended March 31,
	2024		2023		2024		2023
Time-Vested Restricted Stock Units (TVUs)	$	5.2	$	4.0	$	10.6	$	8.1
Performance-Based Restricted Stock Units (PSUs)	0.4		0.6		1.3		0.7
Stock Appreciation Rights (SARs)	0.9		1.2		2.0		2.5
Total	$	6.5	$	5.8	$	13.9	$	11.3

Time Vested Restricted Stock Units ("TVUs")

During the six months ended March 31, 2024, Embecta granted 1,393,808 restricted stock units ("RSUs") in the form of TVUs to employees. TVUs vest on a graded basis over a period of three years. The related stock-based compensation expense is recorded over the requisite service period, which is the vesting period or is based on retirement eligibility. These awards accumulate dividend equivalents, which are provided as additional units and are subject to the same vesting requirements as the underlying grant.

A summary of TVUs outstanding as of March 31, 2024 and changes during the six months ended March 31, 2024 are as follows:


	RSUs (in thousands)	Weighted Average Grant Date Fair Value
Nonvested at October 1	1,188.8	$	29.42
Granted*	1,393.8	17.42
Distributed**	(479.7)	28.70
Forfeited, canceled or expired	(38.2)	23.51
Nonvested at March 31	2,064.7	$	21.59
Expected to vest at March 31	1,954.6	$	21.64

*Includes accumulated nonvested dividend equivalents
**The RSUs distributed include shares withheld for taxes that are not formally issued to the market.

The weighted average grant date fair value of TVUs granted during the six months ended March 31, 2024 is $17.42 and the total fair value of TVUs vested during the six months ended March 31, 2024 is $13.8 million.

At March 31, 2024, the weighted average remaining vesting term of TVUs is 2.1 years.

Performance Based Restricted Stock Units ("PSUs")

During the six months ended March 31, 2024, Embecta awarded 541,958 RSUs in the form of PSUs to certain executive officers and employees which cliff vest after three years, subject to continued employment of the recipients and the achievement of certain performance metric targets. The Company has identified certain performance metrics associated with these awards and certain targets will be fully established at a future date. The Company has determined that the service inception date precedes the grant date for these awards as (a) the awards were authorized prior to establishing an accounting grant date, (b) the recipients began providing services prior to the grant date, and (c) there are performance conditions that, if not met by the accounting grant date, will result in the forfeiture of the awards. As the service inception date precedes the accounting grant date, the Company recognizes stock-based compensation expense for each separately-vesting tranche over the requisite service period based on the fair value at each reporting date. The requisite service period is equal to the vesting period or is based on retirement eligibility. These awards accumulate dividend equivalents, which are provided as additional units and are subject to the same vesting requirements as the underlying grant. As of March 31, 2024, there were 725,912 RSUs in the form of PSUs that have been awarded, inclusive of accumulated dividend equivalents, for which a grant date has not yet been established.

As of both March 31, 2024 and September 30, 2023, there were approximately 57.8 thousand nonvested PSUs for which a grant date has been established with a weighted average grant date fair value of $30.24. As of March 31, 2024, there were approximately 54.6 thousand nonvested PSUs for which a grant date has been established that are expected to vest with a weighted average grant date fair value of $30.24.

At March 31, 2024, the weighted average remaining vesting term of PSUs is 1.7 years.

Stock Appreciation Rights

A summary of stock appreciation rights ("SARs") outstanding as of March 31, 2024 and changes during the six months ended March 31, 2024 are as follows:


	SARs (in thousands)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Balance at October 1	1,831.7	$	29.06


Forfeited, canceled or expired	(45.3)	27.36
Balance at March 31	1,786.4	$	29.10	7.2	$	—
Vested and expected to vest at March 31	1,733.8	29.07		7.2	$	—
Exercisable at March 31	829.6	$	27.84	6.5	$	—

No SARs were exercised during the six months ended March 31, 2024.

Unrecognized Stock-Based Compensation Expense and Other Stock Plans

The amount of unrecognized compensation expense for all non-vested stock-based awards granted as of March 31, 2024, is approximately $42.0 million which is expected to be recognized over a weighted-average remaining life of approximately 2.1 years. At March 31, 2024, 2.6 million shares were authorized for future grants under the Company's 2022 Employee and Director Equity Based Compensation Plan.

Goodwill, Intangible Assets, and Cloud Computing Arrangements - Schedule of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Amortized intangible assets - net	$ 8.6	$ 9.1
Goodwill	15.5	15.6
Total Goodwill and Other Intangible Assets	24.1	24.7
Patents
Finite-Lived Intangible Assets [Line Items]
Amortized intangible assets - gross	10.6	10.6
Amortized intangible assets - accumulated amortization	(4.8)	(4.5)
Amortized intangible assets - net	5.8	6.1
Customer Relationship and Other
Finite-Lived Intangible Assets [Line Items]
Amortized intangible assets - gross	5.4	5.4
Amortized intangible assets - accumulated amortization	(2.6)	(2.4)
Amortized intangible assets - net	$ 2.8	$ 3.0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Basis of Presentation	6 Months Ended
Basis of Presentation	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Note 2 — Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures required by GAAP for complete consolidated financial statements are not included herein. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year. In the Company's opinion, all adjustments necessary for a fair statement of these interim statements have been included and are of a normal and recurring nature. All intercompany transactions and accounts within Embecta have been eliminated. These interim statements should be read in conjunction with the audited financial statements and notes thereto included in Embecta's Annual Report on Form 10-K for the year ended September 30, 2023. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates or assumptions affect reported assets, liabilities, revenues and expenses, depreciable and amortizable lives, sales returns and allowances, rebate accruals, inventory reserves and taxes on income as reflected in the Condensed Consolidated Financial Statements. Actual results could differ from these estimates. Recently Adopted Accounting Standards There were no new material accounting standards adopted in the second first quarter of 2024. Recently Issued Accounting Standards Not Yet Adopted In November 2023, the Financial Account Standard Board issued Accounting Standards Update ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which modifies the disclosure and presentation requirements of reportable segments. This update is effective for the Company beginning with its fiscal year 2025 reporting and for interim reporting beginning with its fiscal year 2026. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements. In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to enhance the transparency and decision usefulness of income tax disclosures. This update is effective for the Company beginning with its fiscal year 2026 reporting. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements. Reclassification Certain prior period amounts have been reclassified to conform to the current year presentation.

Basis of Presentation (Policies)	6 Months Ended
Basis of Presentation (Policies)	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures required by GAAP for complete consolidated financial statements are not included herein. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year. In the Company's opinion, all adjustments necessary for a fair statement of these interim statements have been included and are of a normal and recurring nature. All intercompany transactions and accounts within Embecta have been eliminated. These interim statements should be read in conjunction with the audited financial statements and notes thereto included in Embecta's Annual Report on Form 10-K for the year ended September 30, 2023.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates or assumptions affect reported assets, liabilities, revenues and expenses, depreciable and amortizable lives, sales returns and allowances, rebate accruals, inventory reserves and taxes on income as reflected in the Condensed Consolidated Financial Statements. Actual results could differ from these estimates.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards There were no new material accounting standards adopted in the second first quarter of 2024. Recently Issued Accounting Standards Not Yet Adopted In November 2023, the Financial Account Standard Board issued Accounting Standards Update ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which modifies the disclosure and presentation requirements of reportable segments. This update is effective for the Company beginning with its fiscal year 2025 reporting and for interim reporting beginning with its fiscal year 2026. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements. In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to enhance the transparency and decision usefulness of income tax disclosures. This update is effective for the Company beginning with its fiscal year 2026 reporting. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements.
Reclassification	Reclassification Certain prior period amounts have been reclassified to conform to the current year presentation.

Cover Page - shares	6 Months Ended
Cover Page - shares	Mar. 31, 2024	May 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-41186
Entity Registrant Name	EMBECTA CORP.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-1583942
Entity Address, Address Line One	300 Kimball Drive, Suite 300
Entity Address, City or Town	Parsippany
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07054
City Area Code	862
Local Phone Number	401-0000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	EMBC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		57,670,209
Central Index Key	0001872789
Period Focus	Q2
Fiscal Year Focus	2024
Current Fiscal Year End	--09-30
Amendment Flag	false

Earnings per Share - Computation of Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Income attributable to Embecta	$ 28.9	$ 14.0	$ 49.0	$ 49.2
Basic weighted average number of shares outstanding	57,687	57,260	57,580	57,186
Stock awards and equity units (share equivalent)	120	253	396	426
Diluted weighted average shares outstanding	57,807	57,513	57,976	57,612
Earnings per common share - Basic (in dollars per share)	$ 0.50	$ 0.24	$ 0.85	$ 0.86
Earnings per common share - Diluted (in dollars per share)	$ 0.50	$ 0.24	$ 0.85	$ 0.85

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Earnings per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	4.2	2.2	2.8	1.8

Financial Instruments and Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Concentration Risk [Line Items]
Interest income		$ 2.9	$ 2.7	$ 6.3	$ 3.8
Customer Concentration Risk \| Revenues \| Three Customers In Aggregate
Concentration Risk [Line Items]
Concentration risk percentage		42.00%		42.00%
Customer Concentration Risk \| Trade Receivables \| Four Customers In Aggregate
Concentration Risk [Line Items]
Concentration risk percentage	63.60%

Long-Term Debt - Principal Payments Required on Long-Term Debt (Details) $ in Millions	Mar. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2024	$ 4.8
2025	9.5
2026	9.5
2027	9.5
2028	9.5
Thereafter	$ 1,588.2

Goodwill, Intangible Assets, and Cloud Computing Arrangements - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of cloud computing arrangements	$ 1.2	$ 0.0	$ 1.6	$ 0.0
Minimum
Finite-Lived Intangible Assets [Line Items]
Cloud computing arrangement assets in-service useful lives	3 years		3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Cloud computing arrangement assets in-service useful lives	9 years		9 years

Collaboration Agreement (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
Collaboration Agreement (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense		$ 18.4	$ 22.1	$ 38.6	$ 39.0
Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense					$ 2.5
Product sales percentage	100.00%

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	(191.90%)	42.90%	(102.50%)	39.00%
Effective income tax rate reconciliation, tax benefit on withholding taxes, amount	$ 18.8		$ 18.8
Effective income tax rate reconciliation, tax law change, amount	$ 17.1		$ 17.1

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenues	$ 287.2	$ 277.1	$ 564.5	$ 552.8
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	Product [Member]	Product [Member]	Product [Member]	Product [Member]
Cost of products sold	$ 101.8	$ 87.3	$ 193.2	$ 174.2
Cost, Product and Service [Extensible Enumeration]	Product [Member]	Product [Member]	Product [Member]	Product [Member]
Gross Profit	$ 185.4	$ 189.8	$ 371.3	$ 378.6
Operating expenses:
Selling and administrative expense	92.3	85.2	182.6	158.0
Research and development expense	18.4	22.1	38.6	39.0
Other operating expenses	35.5	26.9	65.4	37.2
Total Operating Expenses	146.2	134.2	286.6	234.2
Operating Income	39.2	55.6	84.7	144.4
Interest expense, net	(27.8)	(26.8)	(55.5)	(52.4)
Other income (expense), net	(1.5)	(4.3)	(5.0)	(11.4)
Income Before Income Taxes	9.9	24.5	24.2	80.6
Income tax provision (benefit)	(19.0)	10.5	(24.8)	31.4
Net Income	$ 28.9	$ 14.0	$ 49.0	$ 49.2
Net Income per common share:
Basic (in dollars per share)	$ 0.50	$ 0.24	$ 0.85	$ 0.86
Diluted (in dollars per share)	$ 0.50	$ 0.24	$ 0.85	$ 0.85