XML 56 R39.htm IDEA: XBRL DOCUMENT v3.21.2

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2021

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,
		2021				2020				2019
Domestic		$	441.6			$	429.7			$	697.9
Foreign			56.3				9.4				52.8
		$	497.9			$	439.1			$	750.7

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,
		2021				2020				2019
Allocated to Income Before Losses of Unconsolidated Affiliates
Current:
Federal		$	(94.7	)		$	70.1			$	140.9
Foreign			8.5				8.2				(0.2	)
State			22.8				12.1				20.2
Total current			(63.4	)			90.4				160.9
Deferred:
Federal			108.1				14.3				2.1
Foreign			(5.6	)			9.7				7.3
State			(13.9	)			(1.6	)			1.0
Total deferred			88.6				22.4				10.4
		$	25.2			$	112.8			$	171.3
Allocated to Other Comprehensive Income (Loss)
Deferred federal, state and foreign		$	(20.0	)		$	8.8			$	(14.9	)

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,
		2021				2020				2019
Effective Rate Reconciliation
U.S. federal tax rate			21.0	%			21.0	%			21.0	%
State income taxes, net			2.2	%			2.8	%			2.5	%
Foreign taxes			1.7	%			0.8	%			-0.2	%
Tax audit settlements			-1.0	%			—	%			—	%
Valuation allowance			-1.3	%			3.3	%			-0.1	%
Domestic tax credits			-2.5	%			-3.2	%			-1.0	%
Foreign-derived intangible income deduction			—	%			-0.4	%			-1.0	%
Mandatory repatriation tax - U.S. Tax Reform			—	%			—	%			0.7	%
CARES Act net operating loss carryback			-15.1	%			—	%			—	%
Other, net			0.1	%			1.4	%			0.9	%
			5.1	%			25.7	%			22.8	%

Components of Deferred Income Tax Assets and Liabilities

Deferred income tax assets and liabilities were comprised of the following (in millions):

		September 30,
		2021				2020
Deferred tax assets:
Other long-term liabilities		$	57.3			$	127.0
Losses and credits			61.5				34.8
Accrued warranty			16.3				15.8
Other current liabilities			24.5				17.7
Payroll-related obligations			26.2				18.5
Other			8.9				6.0
Gross deferred tax assets			194.7				219.8
Less valuation allowance			(6.2	)			(17.4	)
Deferred tax assets, net			188.5				202.4
Deferred tax liabilities:
Intangible assets			(51.6	)			(42.2	)
Property, plant and equipment			(143.9	)			(55.9	)
Inventories			(18.0	)			(18.6	)
Other			(40.6	)			(7.1	)
Deferred tax liabilities			(254.1	)			(123.8	)
Net deferred tax asset (liability)		$	(65.6	)		$	78.6

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,
		2021				2020
Long-term net deferred tax asset		$	8.3			$	78.6
Long-term net deferred tax liability			(73.9	)			—
Net deferred tax asset (liability)		$	(65.6	)		$	78.6

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,
		2021				2020				2019
Balance at beginning of year		$	79.8			$	97.3			$	33.7
Additions for tax positions related to current year			15.8				46.2				63.3
Additions for tax positions related to prior years			0.6				1.4				5.4
Reductions for tax positions related to prior years			(46.0	)			(61.8	)			(0.8	)
Settlements			—				(1.3	)			(0.9	)
Lapse of statutes of limitations			(4.2	)			(2.0	)			(3.4	)
Balance at end of year		$	46.0			$	79.8			$	97.3

Schedule of Tax Years Open for Examination Under Applicable Statutes

As of September 30, 2021, tax years open for examination under applicable statutes were as follows:

Tax Jurisdiction		Open Tax Years
Australia		2016 - 2021
Belgium		2019 - 2021
Brazil		2016 - 2021
Canada		2017 - 2021
China		2016 - 2021
Mexico		2017 - 2021
Romania		2016 - 2021
Netherlands		2015 - 2021
United Kingdom		2019 - 2021
Other Non-U.S. Countries		2015 - 2021
United States (federal general)		2018 - 2021
United States (state and local)		2007 - 2021

X

- Definition

Schedule of classification of deferred tax asset.

+ References

No definition available.

+ Details

Name:	osk_ScheduleOfClassificationOfDeferredTaxAssetTableTextBlock
Namespace Prefix:	osk_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320

+ Details

Name:	us-gaap_SummaryOfIncomeTaxExaminationsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration