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v3.22.2.2

Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2022
Income Tax Disclosure [Abstract] |
Income Before Income Taxes | Income before income taxes comprises the following:
| 2022 |  | 2021 |  | 2020
Domestic | $ | 362 |  |  | $ | 647 |  |  | $ | 424 |
Foreign | 1,025 |  |  | 1,342 |  |  | 243 |
Total income before income taxes | $ | 1,387 |  |  | $ | 1,989 |  |  | $ | 667 |
Provisions for Income Taxes | The provisions for income taxes consist of the following:
| 2022 |  | 2021 |  | 2020
Current expense (benefit): |  |  |  |  |
Federal | $ | 24 |  |  | $ | (48) |  |  | $ | (85) |
State | 18 |  |  | 7 |  |  | 4 |
Foreign | 50 |  |  | 85 |  |  | 70 |
Total current expense (benefit) | 92 |  |  | 44 |  |  | (11) |
Deferred expense (benefit): |  |  |  |  |
Federal | 45 |  |  | 168 |  |  | 135 |
State | (17) |  |  | 48 |  |  | 19 |
Foreign | 193 |  |  | 262 |  |  | (8) |
Total deferred expense | 221 |  |  | 478 |  |  | 146 |
Total income tax expense | $ | 313 |  |  | $ | 522 |  |  | $ | 135 |
Reconciliation of U.S. Federal Statutory Tax Rate to Effective Tax Rate | A reconciliation from the U.S. federal statutory tax rate to our effective tax rate is as follows:
| 2022 |  | 2021 |  | 2020
U.S. federal statutory tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Difference in tax rate due to: |  |  |  |  |
Effects of U.S. tax legislation | — |  |  | (0.8) |  |  | (4.7) |
Effects of tax rate changes - International | (2.3) |  |  | (1.3) |  |  | 0.3 |
Effects of tax rate changes – State, net of federal benefit | (1.4) |  |  | — |  |  | — |
State income taxes, net of federal benefit | 1.5 |  |  | 1.9 |  |  | 2.8 |
Valuation allowance adjustments | (0.5) |  |  | 1.0 |  |  | — |
Effects of foreign operations | 4.4 |  |  | 4.6 |  |  | 1.3 |
Excess tax benefits on share-based payments | (0.3) |  |  | (0.1) |  |  | (0.2) |
Other, net | 0.2 |  |  | (0.1) |  |  | (0.3) |
Effective tax rate | 22.6 | % |  | 26.2 | % |  | 20.2 | %
Deferred Tax Liabilities (Assets) | Deferred tax liabilities (assets) comprise the following at September 30:
| 2022 |  | 2021
Excess book basis over tax basis of property, plant and equipment | $ | 867 |  |  | $ | 937 |
Utility regulatory assets | 106 |  |  | 105 |
Intangible assets and goodwill | 75 |  |  | 77 |
Derivative instrument assets | 514 |  |  | 322 |
Other | 33 |  |  | 36 |
Gross deferred tax liabilities | 1,595 |  |  | 1,477 |
Investment in AmeriGas Partners | (79) |  |  | (102) |
Pension plan liabilities | (21) |  |  | (29) |
Employee-related benefits | (38) |  |  | (45) |
Operating loss carryforwards | (48) |  |  | (53) |
Foreign tax credit carryforwards | (76) |  |  | (79) |
Utility regulatory liabilities | (85) |  |  | (102) |
Utility environmental liabilities | (15) |  |  | (16) |
Other | (125) |  |  | (107) |
Gross deferred tax assets | (487) |  |  | (533) |
Deferred tax assets valuation allowance | 141 |  |  | 138 |
Net deferred tax liabilities | $ | 1,249 |  |  | $ | 1,082 |

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