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Income Taxes (Tables)

12 Months Ended

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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