XML 125 R42.htm IDEA: XBRL DOCUMENT
v3.24.3

Income Taxes (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income (Loss) Before Income Taxes | Income (loss) before income taxes comprises the following:
| 2024 |  | 2023 |  | 2022
Domestic | $ | 305 |  |  | $ | (346) |  |  | $ | 362 |
Foreign | 35 |  |  | (1,491) |  |  | 1,025 |
Total income (loss) before income taxes | $ | 340 |  |  | $ | (1,837) |  |  | $ | 1,387 |
Schedule of Provisions for Income Taxes | The provisions for income taxes consist of the following:
| 2024 |  | 2023 |  | 2022
Current expense (benefit): |  |  |  |  |
Federal | $ | (25) |  |  | $ | (1) |  |  | $ | 24 |
State | 12 |  |  | 37 |  |  | 18 |
Foreign | 32 |  |  | 49 |  |  | 50 |
Total current expense | 19 |  |  | 85 |  |  | 92 |
Deferred expense (benefit): |  |  |  |  |
Federal | 82 |  |  | 34 |  |  | 45 |
State | 34 |  |  | (21) |  |  | (17) |
Foreign | (64) |  |  | (433) |  |  | 193 |
Total deferred expense (benefit) | 52 |  |  | (420) |  |  | 221 |
Total income tax expense (benefit) | $ | 71 |  |  | $ | (335) |  |  | $ | 313 |
Schedule of 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:
| 2024 |  | 2023 |  | 2022
U.S. federal statutory tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Difference in tax rate due to: |  |  |  |  |
Goodwill impairment not deductible for tax | 11.6 |  |  | (7.3) |  |  | — |
State income taxes, net of federal benefit | 6.8 |  |  | (1.7) |  |  | 2.3 |
Investment tax credits | (6.8) |  |  | 0.5 |  |  | — |
Valuation allowance adjustments | (6.3) |  |  | 1.1 |  |  | (0.5) |
Regulated entity depreciation normalization | (4.5) |  |  | 0.7 |  |  | (0.8) |
Notional interest deduction | (3.8) |  |  | 0.7 |  |  | (0.9) |
Effects of tax rate changes – State, net of federal benefit | 3.6 |  |  | 0.2 |  |  | (1.4) |
State NOL adjustment upon disposition | 2.4 |  |  | — |  |  | — |
Uncertain tax positions | (2.4) |  |  | (0.7) |  |  | — |
Impairment of equity investment | 2.2 |  |  | — |  |  | — |
Federal refund interest accrual | (1.1) |  |  | — |  |  | — |
Effects of foreign operations | 0.1 |  |  | 3.1 |  |  | 5.3 |
Effects of tax rate changes - International | — |  |  | — |  |  | (2.3) |
Other, net | (1.9) |  |  | 0.6 |  |  | (0.1) |
Effective tax rate | 20.9 | % |  | 18.2 | % |  | 22.6 | %
Schedule of Deferred Tax Liabilities (Assets) | Deferred tax liabilities (assets) comprise the following at September 30:
| 2024 |  | 2023 |
Excess book basis over tax basis of property, plant and equipment | $ | 994 |  |  | $ | 966 |  |
Intangible assets and goodwill | 86 |  |  | 81 |  |
Utility regulatory assets | 74 |  |  | 84 |  |
Investment in AmeriGas Partners | 31 |  |  | — |  |
Derivative instrument assets | — |  |  | 19 |  |
Other | 50 |  |  | 37 |  |
Gross deferred tax liabilities | 1,235 |  |  | 1,187 |  |
Interest expense | (118) |  |  | (83) |  |
Operating loss carryforwards | (72) |  |  | (75) |  |
Utility regulatory liabilities | (72) |  |  | (83) |  |
Foreign tax credit carryforwards | (49) |  |  | (64) |  |
Employee-related benefits | (33) |  |  | (37) |  |
Investment tax credits | (26) |  |  | — |  |
Utility environmental liabilities | (16) |  |  | (15) |  |
Pension plan liabilities | (8) |  |  | (14) |  |
Derivative instrument liabilities | (3) |  |  | — |  |
Investment in AmeriGas Partners | — |  |  | (28) |  |
Other | (58) |  |  | (58) |  |
Gross deferred tax assets | (455) |  |  | (457) |  |
Deferred tax assets valuation allowance | 130 |  |  | 141 |  |
Net deferred tax liabilities | $ | 910 |  |  | $ | 871 |  |
Schedule of Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
| 2024 |  | 2023 |  | 2022
Unrecognized tax benefits — beginning of year | $ | 26 |  |  | $ | 5 |  |  | $ | 3 |
Additions for tax positions of the current year | 4 |  |  | 3 |  |  | 2 |
Decreases for tax positions taken in prior years | (11) |  |  | — |  |  | — |
Increases for tax positions taken in prior years | — |  |  | 19 |  |  | 1 |
Settlements with tax authorities/statute lapses | (1) |  |  | (1) |  |  | (1) |
Unrecognized tax benefits — end of year | $ | 18 |  |  | $ | 26 |  |  | $ | 5 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration