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Income Taxes | 6 Months Ended
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Mar. 29, 2024
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES The provision for income taxes consists of the following components (in millions):
| Three Months Ended |  | Six Months Ended
| March 29, 2024 |  | March 31, 2023 |  | March 29, 2024 |  | March 31, 2023
United States income taxes | $ | (4.6) |  |  | $ | 16.1 |  |  | $ | 7.5 |  |  | $ | 42.5 |
Foreign income taxes | 14.2 |  |  | 10.9 |  |  | 22.5 |  |  | 25.8 |
Provision for income taxes | $ | 9.6 |  |  | $ | 27.0 |  |  | $ | 30.0 |  |  | $ | 68.3 |
Effective tax rate | 5.0 | % |  | 10.4 | % |  | 6.7 | % |  | 11.2 | %
The difference between the Company’s effective tax rate and the 21.0% United States federal statutory rate for the three and six months ended March 29, 2024 and March 31, 2023 resulted primarily from foreign earnings taxed at rates lower than the federal statutory rate, a benefit from foreign-derived intangible income deduction (“FDII”), and research and experimentation and foreign tax credits earned, partially offset by a tax on global intangible low-taxed income (“GILTI”), and tax expense related to share-based compensation shortfalls. In August 2022, the U.S. government enacted the Inflation Reduction Act, which imposes a corporate alternative minimum tax (“CAMT”) of 15% on corporations with three-year average annual adjusted financial statement income exceeding $1.0 billion. The Company is subject to the provisions of CAMT in fiscal 2024. CAMT had no impact to the Company’s consolidated financial statements for the three and six months ended March 29, 2024.

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