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Income Tax Expense (Tables)

12 Months Ended

Sep. 30, 2024

Income Tax Expense

Schedule of the components of income from continuing operations before income taxes

​

​	​	​	​	​	​	​	​
(Dollars in thousands)		2024			2023		2022
United States	​	$	100,059		98,983		90,674
Foreign	​		29,830		19,964		15,761
Total income before income taxes	​	$	129,889		118,947		106,435

Schedule of the principal components of income tax expense (benefit) from continuing operations

​

​	​	​	​	​	​	​	​
(Dollars in thousands)		2024			2023		2022
Federal:		​
Current	​	$	25,681		24,192		7,248
Deferred	​		(7,670)		(5,816)		9,752
State and local:	​		​		​		​
Current	​		3,215		3,563		1,635
Deferred	​		(25)		(1,038)		1,774
Foreign:	​		​		​		​
Current	​		8,602		5,694		4,645
Deferred	​		(1,795)		(193)		(939)
Total	​	$	28,008		26,402		24,115

Schedule of the actual income tax expense from continuing operations

​

​	​	​	​	​	​	​	​
​		2024		2023		2022
Federal corporate statutory rate		21.0	%	21.0	%	21.0	%
State and local, net of Federal benefits	​	2.4		2.1		2.9	​
Impact of foreign operations	​	0.4	​	0.3	​	(0.3)	​
Federal research credit	​	(0.8)	​	(1.1)	​	(0.3)	​
Executive compensation	​	0.1		0.9		0.5	​
Valuation allowance	​	(0.3)		0.3		(0.3)	​
U.S. tax on GILTI	​	2.4	​	1.2	​	1.8	​
GILTI foreign tax credits	​	(2.0)	​	(0.9)	​	(1.5)	​
FDII deduction	​	(1.7)	​	(1.6)	​	(0.9)	​
Other, net	​	0.1		—		(0.2)	​
Effective income tax rate	​	21.6	%	22.2	%	22.7	%

Schedule of the tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities

​

​	​	​	​	​	​
(Dollars in thousands)		2024			2023
Deferred tax assets:		​
Inventories	​	$	4,577		5,457
Pension and other postretirement benefits	​		460		658
Capitalized research and development expenditures	​	​	9,726	​	4,114
Lease liabilities	​	​	7,451	​	9,822
Net operating and capital loss carryforwards — domestic	​		544		553
Net operating loss carryforward — foreign	​		3,855		3,714
Other compensation-related costs and other cost accruals	​		10,305		8,691
State credit carryforward	​		1,601		2,249
Total deferred tax assets	​		38,519		35,258
​	​		​		​
Deferred tax liabilities:	​		​		​
ROU assets	​	​	(6,895)	​	(9,822)
Goodwill	​		(15,416)		(13,313)
Acquisition intangible assets	​		(66,986)		(61,187)
Depreciation, software amortization	​		(19,892)		(21,772)
Net deferred tax liabilities before valuation allowance	​		(70,670)		(70,836)
Less valuation allowance	​		(1,513)		(1,772)
Net deferred tax liabilities	​	$	(72,183)		(72,608)

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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
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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

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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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

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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
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