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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2020
Income Tax Disclosure [Abstract] |
Schedule of Pre-tax Income (Loss) from Continuing Operations | Pre-tax income was taxed in the following jurisdictions (in millions):
|  | Fiscal Year Ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Domestic |  | $ | 429.7 |  |  | $ | 697.9 |  |  | $ | 514.9 |
Foreign |  |  | 9.4 |  |  |  | 52.8 |  |  |  | 79.7 |
|  | $ | 439.1 |  |  | $ | 750.7 |  |  | $ | 594.6 |
Schedule of Components of Provision for (Benefit from) Income Taxes | Significant components of the provision for income taxes were as follows (in millions):
|  | Fiscal Year Ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Allocated to Income Before Earnings (Losses) of Unconsolidated Affiliates |  |  |  |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 70.1 |  |  | $ | 140.9 |  |  | $ | 92.0 |
Foreign |  |  | 8.2 |  |  |  | (0.2 | ) |  |  | 22.0 |
State |  |  | 12.1 |  |  |  | 20.2 |  |  |  | 12.9 |
Total current |  |  | 90.4 |  |  |  | 160.9 |  |  |  | 126.9 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 14.3 |  |  |  | 2.1 |  |  |  | 5.4 |
Foreign |  |  | 9.7 |  |  |  | 7.3 |  |  |  | (5.5 | )
State |  |  | (1.6 | ) |  |  | 1.0 |  |  |  | (3.0 | )
Total deferred |  |  | 22.4 |  |  |  | 10.4 |  |  |  | (3.1 | )
|  | $ | 112.8 |  |  | $ | 171.3 |  |  | $ | 123.8 |
Allocated to Other Comprehensive Income (Loss) |  |  |  |  |  |  |  |  |  |  |  |
Deferred federal, state and foreign |  | $ | 8.8 |  |  | $ | (14.9 | ) |  | $ | 11.0 |
Schedule of Reconciliation of Income Tax Computed at U.S. Federal Statutory Tax Rates to Income Tax Expense | The reconciliation of income tax computed at the U.S. federal statutory tax rates to income tax expense was:
|  | Fiscal Year Ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Effective Rate Reconciliation |  |  |  |  |  |  |  |  |  |  |  |
U.S. federal tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 24.5 | %
State income taxes, net |  |  | 2.8 | % |  |  | 2.5 | % |  |  | 2.1 | %
Foreign taxes |  |  | 0.8 | % |  |  | -0.2 | % |  |  | 1.0 | %
Valuation allowance |  |  | 3.3 | % |  |  | -0.1 | % |  |  | -1.4 | %
Domestic tax credits |  |  | -3.2 | % |  |  | -1.0 | % |  |  | -2.1 | %
Manufacturing deduction |  |  | — | % |  |  | -0.1 | % |  |  | -1.6 | %
Foreign-derived intangible income deduction |  |  | -0.4 | % |  |  | -1.0 | % |  |  | — | %
Share-based compensation |  |  | — | % |  |  | 0.1 | % |  |  | -0.7 | %
Remeasurement of deferred taxes - U.S. Tax Reform |  |  | — | % |  |  | — | % |  |  | -5.1 | %
Mandatory repatriation tax - U.S. Tax Reform |  |  | — | % |  |  | 0.7 | % |  |  | 3.3 | %
Other, net |  |  | 1.4 | % |  |  | 0.9 | % |  |  | 0.8 | %
|  |  | 25.7 | % |  |  | 22.8 | % |  |  | 20.8 | %
Components of Deferred Income Tax Assets and Liabilities | Deferred income tax assets and liabilities were comprised of the following (in millions):
|  | September 30, |
|  | 2020 |  |  | 2019 |
Deferred tax assets: |  |  |  |  |  |  |  |
Other long-term liabilities |  | $ | 127.0 |  |  | $ | 126.0 |
Losses and credits |  |  | 34.8 |  |  |  | 27.9 |
Accrued warranty |  |  | 15.8 |  |  |  | 14.5 |
Other current liabilities |  |  | 17.7 |  |  |  | 15.0 |
Payroll-related obligations |  |  | 18.5 |  |  |  | 23.4 |
Other |  |  | 6.0 |  |  |  | 9.4 |
Gross deferred tax assets |  |  | 219.8 |  |  |  | 216.2 |
Less valuation allowance |  |  | (17.4 | ) |  |  | (1.1 | )
Deferred tax assets, net |  |  | 202.4 |  |  |  | 215.1 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Intangible assets |  |  | (42.2 | ) |  |  | (40.0 | )
Property, plant and equipment |  |  | (55.9 | ) |  |  | (50.5 | )
Inventories |  |  | (18.6 | ) |  |  | (14.1 | )
Other |  |  | (7.1 | ) |  |  | (2.6 | )
Deferred tax liabilities |  |  | (123.8 | ) |  |  | (107.2 | )
Deferred tax assets, net of deferred tax liabilities |  | $ | 78.6 |  |  | $ | 107.9 |
Schedule of Classification of Deferred Tax Asset in Consolidated Balance Sheets | The net deferred tax asset is classified in the Consolidated Balance Sheets as follows (in millions):
|  | September 30, |
|  | 2020 |  |  | 2019 |
Long-term net deferred tax asset |  | $ | 78.6 |  |  | $ | 107.9 |
Long-term net deferred tax liability |  |  | — |  |  |  | — |
Net deferred tax asset (liability) |  | $ | 78.6 |  |  | $ | 107.9 |
Schedule of Reconciliation of Unrecognized Tax Benefits | A reconciliation of gross unrecognized tax benefits, excluding interest and penalties, was as follows (in millions):
|  | Fiscal Year Ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Balance at beginning of year |  | $ | 97.3 |  |  | $ | 33.7 |  |  | $ | 37.2 |
Additions for tax positions related to current year |  |  | 46.2 |  |  |  | 63.3 |  |  |  | 4.2 |
Additions for tax positions related to prior years |  |  | 1.4 |  |  |  | 5.4 |  |  |  | 5.4 |
Reductions for tax positions related to prior years |  |  | (61.8 | ) |  |  | (0.8 | ) |  |  | (7.1 | )
Settlements |  |  | (1.3 | ) |  |  | (0.9 | ) |  |  | (4.1 | )
Lapse of statutes of limitations |  |  | (2.0 | ) |  |  | (3.4 | ) |  |  | (1.9 | )
Balance at end of year |  | $ | 79.8 |  |  | $ | 97.3 |  |  | $ | 33.7 |
Schedule of Tax Years Open for Examination Under Applicable Statutes | As of September 30, 2020, tax years open for examination under applicable statutes were as follows:
Tax Jurisdiction |  | Open Tax Years
Australia |  | 2013 - 2020
Belgium |  | 2018 - 2020
Brazil |  | 2015 - 2020
Canada |  | 2016 - 2020
China |  | 2015 - 2020
Mexico |  | 2016 - 2020
Romania |  | 2014 - 2020
Netherlands |  | 2014 - 2020
United Kingdom |  | 2017 - 2020
Other Non-U.S. Countries |  | 2014 - 2020
United States (federal general) |  | 2016 - 2020
United States (federal limited scope) |  | 2012 - 2016
United States (state and local) |  | 2006 - 2020

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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