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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2022
Income Tax Disclosure [Abstract] |
Components of Consolidated Income Tax Expense | The following table presents the components of our consolidated income taxes for continuing operations for years ended September 30, 2022, October 1, 2021 and October 2, 2020 (in thousands):
| For the Years Ended
| September 30, 2022 |  | October 1, 2021 |  | October 2, 2020
Current income tax (benefit) expense from continuing operations: |  |  |  |  |
Federal | $ | (35,291) |  |  | $ | 91,313 |  |  | $ | (37,030) |
State | 4,526 |  |  | 30,886 |  |  | (5,021) |
Foreign | 79,822 |  |  | 38,959 |  |  | 41,616 |
Total current tax expense from continuing operations | 49,057 |  |  | 161,158 |  |  | (435) |
Deferred income tax expense (benefit) from continuing operations: |  |  |  |  |
Federal | 56,526 |  |  | 35,109 |  |  | 53,485 |
State | 17,178 |  |  | 21,826 |  |  | 7,133 |
Foreign | 38,142 |  |  | 56,688 |  |  | (4,863) |
Total deferred tax expense from continuing operations | 111,846 |  |  | 113,623 |  |  | 55,755 |
Consolidated income tax expense from continuing operations | $ | 160,903 |  |  | $ | 274,781 |  |  | $ | 55,320 |
Components of Deferred Tax Assets | The following table presents the components of our net deferred tax (liabilities) assets at September 30, 2022 and October 1, 2021 (in thousands):
| September 30, 2022 |  | October 1, 2021
Deferred tax assets: |  |  |
Obligations relating to: |  |  |
Other employee benefit plans | 138,897 |  |  | 156,931 |
Net operating losses | 132,999 |  |  | 197,929 |
Foreign tax credit | 83,697 |  |  | 87,689 |
Contract revenues and costs | — |  |  | 81,633 |
Lease liability | 138,635 |  |  | 155,064 |
Unrealized foreign exchange loss | 46,005 |  |  | — |
Other | 13,005 |  |  | 19,689 |
Valuation allowance | (113,483) |  |  | (188,662) |
Gross deferred tax assets | 439,755 |  |  | 510,273 |
Deferred tax liabilities: |  |  |
Contract revenues and costs | (6,007) |  |  | — |
Depreciation and amortization | (431,946) |  |  | (436,324) |
Lease right of use asset | (71,658) |  |  | (93,338) |
Partnership investment | (52,787) |  |  | (72,560) |
Hedge Investments | (38,994) |  |  | (13,754) |
Unrealized Foreign Exchange Gain | (45,754) |  |  | — |
Other | (30,206) |  |  | (5,484) |
Gross deferred tax liabilities | (677,352) |  |  | (621,460) |
Net deferred tax liabilities | $ | (237,597) |  |  | $ | (111,187) |
Income Tax Benefits Realized from the Exercise of Nonqualified Stock Options, and Disqualifying Dispositions of Stock Sold Under our Employee Stock Purchase Plans | The following table presents the income tax benefits from continuing operations realized from the exercise of non-qualified stock options and disqualifying dispositions of stock sold under our employee stock purchase plans for the years ended September 30, 2022, October 1, 2021 and October 2, 2020 (in millions):
For the Years Ended
September 30, 2022 |  | October 1, 2021 |  | October 2, 2020
$ | 2.2 |  |  | $ | 9.9 |  |  | $ | 10.2 |
Income Tax Expense in Consolidated Statements of Earnings | The following table reconciles total income tax expense from continuing operations using the statutory U.S. federal income tax rate to the consolidated income tax expense for continuing operations shown in the accompanying Consolidated Statements of Earnings for the years ended September 30, 2022, October 1, 2021 and October 2, 2020 (dollars in thousands):
| For the Years Ended
| September 30, 2022 |  | % |  | October 1, 2021 |  | % |  | October 2, 2020 |  | %
Statutory amount | $ | 184,033 |  |  | 21.0 | % |  | $ | 146,078 |  |  | 21.0 | % |  | $ | 92,652 |  |  | 21.0 | %
State taxes, net of the federal benefit | 19,316 |  | 2.2 | % |  | 14,564 |  |  | 2.1 | % |  | 7,254 |  |  | 1.6 | %
Exclusion of tax on non-controlling interests | (7,533) |  | (0.9) | % |  | (7,999) |  |  | (1.1) | % |  | (6,622) |  |  | (1.5) | %
Foreign: |  |  |  |  |  |  |  |  |  |  |
Difference in tax rates of foreign operations | (2,516) |  | (0.3) | % |  | 3,684 |  |  | 0.5 | % |  | (6,267) |  |  | (1.4) | %
Expense/(benefit) from foreign valuation allowance change | 2,982 |  | 0.3 | % |  | 2,148 |  |  | 0.3 | % |  | (16,861) |  |  | (3.8) | %
Nondeductible compensation | — |  | — | % |  | 48,727 |  |  | 7.0 | % |  | — |  |  | — | %
U.S. tax cost (benefit) of foreign operations | 48,843 |  |  | 5.6 | % |  | 35,228 |  |  | 5.1 | % |  | 42,992 |  |  | 9.7 | %
Tax differential on foreign earnings | 49,309 |  |  | 5.6 | % |  | 89,787 |  |  | 12.9 | % |  | 19,864 |  |  | 4.5 | %
Foreign tax credits | (33,734) |  | (3.8) | % |  | (25,230) |  |  | (3.6) | % |  | (26,471) |  |  | (6.0) | %
Tax Rate Change | 3,210 |  | 0.4 | % |  | 25,588 |  |  | 3.7 | % |  | (6,811) |  |  | (1.5) | %
Valuation allowance | (59,121) |  | (6.7) | % |  | 38,928 |  |  | 5.6 | % |  | — |  |  | — | %
Uncertain tax positions | (1,439) |  | (0.2) | % |  | 978 |  |  | 0.1 | % |  | (11,338) |  |  | (2.6) | %
Other items: |  |  |  |  |  |  |  |  |  |  |
Energy efficient commercial buildings deduction | (2,681) |  | (0.3) | % |  | (3,760) |  |  | (0.5) | % |  | (7,267) |  |  | (1.6) | %
Disallowed officer compensation | 6,034 |  | 0.7 | % |  | 6,689 |  |  | 1.0 | % |  | 5,081 |  |  | 1.2 | %
Stock compensation | (2,168) |  | (0.2) | % |  | (9,946) |  |  | (1.4) | % |  | (10,234) |  |  | (2.3) | %
Other items – net | 5,677 |  | 0.6 | % |  | (896) |  |  | (0.1) | % |  | (788) |  |  | (0.2) | %
Total other items | 6,862 |  | 0.8 | % |  | (7,913) |  |  | (1.1) | % |  | (13,208) |  |  | (3.0) | %
Taxes on income from continuing operations | $ | 160,903 |  |  | 18.4 | % |  | $ | 274,781 |  |  | 39.5 | % |  | $ | 55,320 |  |  | 12.5 | %
Income Tax Payments | The following table presents income tax payments, net made during the years ended September 30, 2022, October 1, 2021 and October 2, 2020 (in millions):
September 30, 2022 |  | October 1, 2021 |  | October 2, 2020
$ | 113.9 |  |  | $ | 75.6 |  |  | $ | 39.8 |
Components of our Consolidated Earnings Before Taxes | The following table presents the components of our consolidated earnings from continuing operations before taxes for the years ended September 30, 2022, October 1, 2021 and October 2, 2020 (in thousands):
| For the Years Ended
| September 30, 2022 |  | October 1, 2021 |  | October 2, 2020
United States earnings | $ | 415,673 |  |  | $ | 634,820 |  |  | $ | 208,302 |
Foreign earnings | 460,674 |  |  | 60,782 |  |  | 232,901 |
| $ | 876,347 |  |  | $ | 695,602 |  |  | $ | 441,203 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table presents the reconciliation of the beginning and ending amount of unrecognized tax benefits, with StreetLight and PA Consulting related impacts added for the years ended September 30, 2022, October 1, 2021 and October 2, 2020 (in thousands):
| For the Years Ended
| September 30, 2022 |  | October 1, 2021 |  | October 2, 2020
Balance, beginning of year | $ | 113,633 |  |  | $ | 102,484 |  |  | $ | 104,355 |
Acquisitions/Divestitures | 192 |  |  | 7,639 |  |  | — |
Additions based on tax positions related to the current year | 1,136 |  |  | 7,088 |  |  | 1,064 |
Additions for tax positions of prior years | 1,207 |  |  | 1,711 |  |  | 7,472 |
Reductions for tax positions of prior years | (3,672) |  |  | (4,851) |  |  | (6,695) |
Settlement | (23,603) |  |  | (438) |  |  | (3,712) |
Balance, end of year | $ | 88,893 |  |  | $ | 113,633 |  |  | $ | 102,484 |

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