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Income Taxes | 6 Months Ended
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Mar. 31, 2017
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The Company’s consolidated effective income tax rate for the three months ended March 31, 2017 declined to 27.0% from 29.9% for the corresponding period last year. Contributing to the quarter over quarter decrease in the effective tax rate was a $3.3 million benefit realized in the second fiscal quarter of 2017 related to nontaxable income received by a foreign affiliate and a $1.9 million benefit realized from a favorable IRS audit adjustment claimed by the Company pertaining to the design of energy efficient buildings pursuant to Internal Revenue Code section 179D. Also contributing to the decrease in the tax rate were changes in geographic income mix comprising the remaining difference in the year over year rate for the comparative three month periods. During the second fiscal quarter of 2016, the Company realized certain discrete tax benefits associated with the release of a foreign tax reserve due to statute expiration. In connection with the release of the foreign tax reserve, the Company also reversed $2.7 million of accrued interest expense and $5.1 million of accrued penalties, which is recorded in Other Income (Expense) in the Consolidated Statements of Earnings. The Company’s consolidated effective income tax rate for the six months ended March 31, 2017 increased to 28.1% from 23.3% for the corresponding period last year. The primary driver contributing to the year over year increase in the tax rate is the absence of an $11.2 million valuation allowance release in the first six months of fiscal 2016 pertaining to certain foreign net operating losses. The amount of income taxes the Company pays is subject to ongoing audits by tax jurisdictions around the world. In the normal course of business, the Company is subject to examination by tax authorities throughout the world, including such major jurisdictions as Australia, Canada, India, the Netherlands, the United Kingdom and the United States. Our estimate of the potential outcome of any uncertain tax issue is subject to our assessment of the relevant risks, facts, and circumstances existing at the time. The Company believes that it has adequately provided for reasonably foreseeable outcomes related to these matters. However, future results may include favorable or unfavorable adjustments to our estimated tax liabilities in the period the assessments are made or resolved, which may impact our effective tax rate. It is reasonably possible that, during the next 12 months, we may realize a decrease in our uncertain tax positions of approximately $10 million (being realized as a reduction in income tax expense) as a result of concluding various tax audits and closing tax years.

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- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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