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v3.23.3

Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2023
Income Taxes |
Schedule of income tax (benefit) expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal Year Ended
​ |  | September 30, |  | September 30, |  | September 30,
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
​ | ​ | (in millions)
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 67.7 | ​ | $ | 22.8 | ​ | $ | 32.2
State | ​ |  | 71.9 | ​ | ​ | 16.0 | ​ | ​ | 6.8
Foreign | ​ |  | 52.8 | ​ | ​ | 75.8 | ​ | ​ | 53.2
Total current income tax expense | ​ |  | 192.4 | ​ | ​ | 114.6 | ​ | ​ | 92.2
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ |  | (71.8) | ​ | ​ | 22.1 | ​ | ​ | (28.8)
State | ​ |  | (84.3) | ​ | ​ | 11.8 | ​ | ​ | 18.8
Foreign | ​ |  | 19.8 | ​ | ​ | (12.4) | ​ | ​ | 6.8
Total deferred income tax benefit | ​ |  | (136.3) | ​ | ​ | 21.5 | ​ | ​ | (3.2)
Total income tax expense | ​ | $ | 56.1 | ​ | $ | 136.1 | ​ | $ | 89.0
​
Schedule of major elements contributing to the difference between the U.S. federal statutory rate of 21% for fiscal years ended September 30, 2022, 2021 and 2020 and the effective tax rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal Year Ended |
​ | ​ | September 30, | ​ | September 30, | ​ | September 30, |
​ | ​ | 2023 | ​ | 2022 | ​ | 2021 |
​ |  | Amount |  | % |  | Amount |  | % |  | Amount |  | % |
​ | ​ | (in millions) |
Tax at federal statutory rate | ​ | $ | 44.8 |  | 21.0 | % | $ | 115.6 |  | 21.0 | % | $ | 85.8 |  | 21.0 | %
State income tax, net of federal benefit | ​ |  | (7.1) |  | (3.3) | ​ |  | 20.2 |  | 3.7 | ​ |  | 8.0 |  | 2.0 | ​
Foreign residual income | ​ | ​ | 59.4 | ​ | 27.8 | ​ | ​ | 46.4 | ​ | 8.4 | ​ | ​ | 45.6 | ​ | 11.1 | ​
Valuation allowance | ​ | ​ | 16.6 | ​ | 7.8 | ​ | ​ | (18.0) | ​ | (3.3) | ​ | ​ | 12.4 | ​ | 3.0 | ​
Nondeductible costs | ​ | ​ | 10.7 | ​ | 5.0 | ​ | ​ | 19.7 | ​ | 3.6 | ​ | ​ | 6.0 | ​ | 1.5 | ​
Change in uncertain tax positions | ​ | ​ | 9.4 | ​ | 4.4 | ​ | ​ | 15.4 | ​ | 2.8 | ​ | ​ | 8.5 | ​ | 2.1 | ​
Audit settlement | ​ | ​ | 1.9 | ​ | 0.9 | ​ | ​ | (1.5) | ​ | (0.3) | ​ | ​ | 10.4 | ​ | 2.5 | ​
Foreign tax rate differential | ​ | ​ | 0.2 | ​ | 0.1 | ​ | ​ | 1.1 | ​ | 0.2 | ​ | ​ | 8.8 | ​ | 2.1 | ​
Income tax credits and incentives | ​ | ​ | (68.2) | ​ | (31.9) | ​ | ​ | (51.0) | ​ | (9.3) | ​ | ​ | (51.3) | ​ | (12.5) | ​
Exclusion of tax on non-controlling interests | ​ | ​ | (9.4) | ​ | (4.4) | ​ | ​ | (5.1) | ​ | (0.9) | ​ | ​ | (6.1) | ​ | (1.5) | ​
Tax exempt income | ​ | ​ | (3.3) | ​ | (1.5) | ​ | ​ | (5.9) | ​ | (1.1) | ​ | ​ | (5.4) | ​ | (1.3) | ​
Tax rate changes | ​ | ​ | (3.2) | ​ | (1.5) | ​ | ​ | (4.1) | ​ | (0.7) | ​ | ​ | (26.8) | ​ | (6.5) | ​
Return to provision | ​ | ​ | (0.5) | ​ | (0.2) | ​ | ​ | (1.5) | ​ | (0.3) | ​ | ​ | (9.5) | ​ | (2.3) | ​
Other items, net | ​ | ​ | 4.8 | ​ | 2.1 | ​ | ​ | 4.8 | ​ | 0.9 | ​ | ​ | 2.6 | ​ | 0.6 | ​
Total income tax expense | ​ | $ | 56.1 |  | 26.3 | % | $ | 136.1 |  | 24.7 | % | $ | 89.0 |  | 21.8 | %
Schedule of deferred tax assets (liabilities) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal Year Ended
​ |  | September 30, |  | September 30,
​ | ​ | 2023 | ​ | 2022
​ | ​ | (in millions)
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Compensation and benefit accruals not currently deductible | ​ | $ | 92.2 | ​ | $ | 91.6
Net operating loss carryforwards | ​ |  | 102.3 | ​ |  | 113.7
Self-insurance reserves | ​ |  | 23.2 | ​ |  | 4.5
Research and experimentation and other tax credits | ​ |  | 43.1 | ​ |  | 111.4
Pension liability | ​ |  | 44.7 | ​ |  | 52.1
Accrued liabilities | ​ |  | 295.1 | ​ |  | 280.4
Capital loss carryforward | ​ | ​ | 64.0 | ​ | ​ | 64.4
Partnership investment | ​ |  | 102.0 | ​ |  | —
Other | ​ |  | 7.1 | ​ |  | 5.3
Total deferred tax assets | ​ | ​ | 773.7 | ​ | ​ | 723.4
Deferred tax liabilities: | ​ |  | ​ | ​ |  | ​
Unearned revenue | ​ |  | (7.0) | ​ |  | (1.5)
Depreciation and amortization | ​ |  | (13.1) | ​ |  | (111.4)
Acquired intangible assets | ​ |  | (5.4) | ​ |  | (11.2)
Investment in subsidiaries | ​ | ​ | (10.7) | ​ | ​ | (10.8)
Right of use assets | ​ | ​ | (94.0) | ​ | ​ | (125.6)
Contingent consideration | ​ |  | (34.2) | ​ |  | (33.6)
Other | ​ |  | (15.5) | ​ |  | —
Total deferred tax liabilities | ​ | ​ | (179.9) | ​ | ​ | (294.1)
Valuation allowance | ​ | ​ | (171.2) | ​ | ​ | (154.4)
Net deferred tax assets | ​ | $ | 422.6 | ​ | $ | 274.9
​
Schedule of reconciliation of the beginning and ending amount of gross unrecognized tax benefits | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal Year Ended
​ |  | September 30, |  | September 30,
​ | ​ | 2023 | ​ | 2022
​ | ​ | (in millions)
Balance at the beginning of the year | ​ | $ | 55.2 | ​ | $ | 46.4
Gross increase in current period’s tax positions | ​ |  | 3.5 | ​ |  | 17.4
Gross increase in prior years’ tax positions | ​ |  | 17.9 | ​ |  | 2.4
Gross decrease in prior years’ tax positions | ​ |  | (13.3) | ​ |  | (8.0)
Decrease due to settlement with tax authorities | ​ |  | (1.0) | ​ |  | (1.4)
Decrease due to lapse of statute of limitations | ​ |  | — | ​ |  | (0.5)
Gross change due to foreign exchange fluctuations | ​ | ​ | (0.2) | ​ | ​ | (1.1)
Balance at the end of the year | ​ | $ | 62.1 | ​ | $ | 55.2
​

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- 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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- 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
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