XML 33 R34.htm IDEA: XBRL DOCUMENT v3.19.3

INCOME TAXES (Tables)

12 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Components of the Provision (Benefit) for Income Taxes

The components of the provision (benefit) for income taxes are as follows:

	Year Ended September 30,
(in thousands)	2019				2018				2017
Current:
Federal	$	21,745			$	757			$	(36,260	)
Foreign	732				6,492				4,108
State	3,365				2,340				(472		)
	25,842				9,589				(32,624		)
Deferred:
Federal	(35,809		)		(508,256		)		(14,953		)
Foreign	2,804				7,415				(7,827		)
State	(11,549		)		14,083				(1,331		)
	(44,554		)		(486,758		)		(24,111		)
Total benefit	$	(18,712	)		$	(477,169	)		$	(56,735	)

Domestic and Foreign Income (Loss) before Income Taxes

The amounts of domestic and foreign income (loss) before income taxes are as follows:

	Year Ended September 30,
(in thousands)	2019				2018				2017
Domestic	$	(45,118	)		$	27,436			$	(173,157	)
Foreign	(6,104		)		(11,595		)		(11,441		)
	$	(51,222	)		$	15,841			$	(184,598	)

Effective Income Tax Rates as Compared to the U.S. Federal Income Tax Rate

Effective income tax rates as compared to the U.S. Federal income tax rate are as follows:

	Year Ended September 30,
	2019			2018			2017
U.S. Federal income tax rate	21.0	%		24.5	%		35.0	%
Effect of foreign taxes	(0.6	)		87.8			1.8
State income taxes, net of federal tax benefit	17.2			68.8			0.6
U.S. domestic production activities	—			—			(2.1	)
Remeasurement of deferred tax related to Tax Reform Act	—			(3,169.4	)		—
Other impact of foreign operations	0.9			(43.4	)		(2.9	)
Non-deductible meals and entertainment (1)	(2.5	)		8.2			—
Equity compensation (1)	2.7			(5.3	)		—
Excess officer's compensation (1)	(1.9	)		1.7			—
Contingent consideration adjustment (1)	4.5			10.7			—
Other (1)	(4.8	)		4.1			(1.7	)
Effective income tax rate	36.5	%		(3,012.3	)%		30.7	%

(1)

For fiscal year 2017, “Other” reflects adjustments for non-deductible meals and entertainment, equity compensation, excess officer’s compensation and contingent consideration.

Components of Net Deferred Tax Liabilities

The components of our net deferred tax liabilities are as follows:

	September 30,
(in thousands)	2019				2018
Deferred tax liabilities:
Property, plant and equipment	$	867,909			$	904,734
Marketable securities	—				10,464
Other	15,681				12,787
Total deferred tax liabilities	883,590				927,985
Deferred tax assets:
Marketable securities	771				—
Pension reserves	7,324				3,477
Self-insurance reserves	14,294				13,100
Net operating loss, foreign tax credit, and other federal tax credit carryforwards	41,126				55,889
Financial accruals	54,511				45,708
Other	2,531				4,888
Total deferred tax assets	120,557				123,062
Valuation allowance	(43,578		)		(48,213		)
Net deferred tax assets	76,979				74,849
Net deferred tax liabilities	$	806,611			$	853,136

Reconciliation of the Change in Gross Unrecognized Tax Benefits

A reconciliation of the change in our gross unrecognized tax benefits for the fiscal years ended September 30, 2019 and 2018 is as follows:

(in thousands)	2019				2018
Unrecognized tax benefits at October 1,	$	14,905			$	4,773
Gross increases - tax positions in prior periods	—				3
Gross decreases - current period effect of tax positions	(28		)		(280		)
Gross increases - current period effect of tax positions	1,067				10,537
Expiration of statute of limitations for assessments	(185		)		(128		)
Unrecognized tax benefits at September 30,	$	15,759			$	14,905

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=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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=84230637&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=84230637&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=84230637&loc=d3e32840-109319

+ Details

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