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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2025
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense/(Benefit) and Components of Income Tax Expense/(Benefit) Attributable to Income from Operations | Income tax expense/(benefit) for the years ended September 30, 2025, 2024, and 2023 was allocated as follows:
| Fiscal Year Ended September 30,
(in millions) | 2025 |  | 2024 |  | 2023
Income tax expense attributable to income from operations | $ | 102.9 |  |  | $ | 93.3 |  |  | $ | 84.5 |
Taxes allocated to stockholders’ equity, related to pension liabilities | — |  |  | 0.3 |  |  | 0.2 |
Taxes allocated to stockholders’ equity, related to hedge accounting | 0.2 |  |  | 8.1 |  |  | 11.1 |
Total income tax expense | $ | 103.1 |  |  | $ | 101.7 |  |  | $ | 95.8 |
The components of income tax expense/(benefit) attributable to income from operations were as follows:
| Fiscal Year Ended September 30,
(in millions) | 2025 |  | 2024 |  | 2023
Current taxes: |  |  |  |  |
U.S. federal | $ | 37.2 |  |  | $ | 26.4 |  |  | $ | 15.8 |
U.S. state and local | 7.0 |  |  | 5.9 |  |  | 3.9 |
Brazil | 19.7 |  |  | 18.2 |  |  | 16.0 |
Germany | 3.4 |  |  | 4.2 |  |  | 4.5 |
Singapore | 9.4 |  |  | 7.7 |  |  | 4.9 |
United Kingdom | 9.5 |  |  | 34.5 |  |  | 30.9 |
Other international | 9.4 |  |  | 6.9 |  |  | 10.9 |
Total current taxes | 95.6 |  |  | 103.8 |  |  | 86.9 |
Deferred taxes: |  |  |  |  |
U.S. federal | (2.0) |  |  | 1.7 |  |  | (1.1) |
U.S. state and local | (1.0) |  |  | 0.5 |  |  | — |
Brazil | 1.2 |  |  | (3.6) |  |  | — |
Germany | — |  |  | (0.4) |  |  | — |
United Kingdom | 10.5 |  |  | (7.2) |  |  | (1.4) |
Other international | (1.4) |  |  | (1.5) |  |  | 0.1 |
Total deferred taxes | 7.3 |  |  | (10.5) |  |  | (2.4) |
Income tax expense | $ | 102.9 |  |  | $ | 93.3 |  |  | $ | 84.5 |
Schedule of Components of Income from Operations, Before Tax | U.S. and international components of income from operations, before tax, were as follows:
| Fiscal Year Ended September 30,
(in millions) | 2025 |  | 2024 |  | 2023
U.S. | $ | 148.9 |  |  | $ | 97.8 |  |  | $ | 135.1 |
Brazil | 44.6 |  |  | 37.8 |  |  | 35.3 |
Germany | 11.1 |  |  | 12.1 |  |  | 13.3 |
Singapore | 70.3 |  |  | 55.1 |  |  | 38.1 |
United Kingdom | 65.4 |  |  | 121.3 |  |  | 77.7 |
Other international | 68.5 |  |  | 30.0 |  |  | 23.5 |
Income from operations, before tax | $ | 408.8 |  |  | $ | 354.1 |  |  | $ | 323.0 |
Schedule of Effective Income Tax Rate Reconciliation | Items accounting for the difference between income taxes computed at the federal statutory rate and income tax expense were as follows:
| Fiscal Year Ended September 30,
| 2025 |  | 2024 |  | 2023
Federal statutory rate effect of: | 21.0 | % |  | 21.0 | % |  | 21.0 | %
U.S. State and local income taxes | 1.1 | % |  | 1.5 | % |  | 1.0 | %
Foreign earnings and losses taxed at different rates | 0.5 | % |  | 2.6 | % |  | 1.1 | %
Stock compensation | (1.4) | % |  | (1.0) | % |  | (0.6) | %
BEAT | 1.0 | % |  | — | % |  | — | %
Pillar 2 minimum tax | 0.8 | % |  | — | % |  | — | %
Non-deductible compensation | 1.9 | % |  | 1.5 | % |  | 1.5 | %
Permanent items | 0.1 | % |  | (0.8) | % |  | 1.8 | %
U.S. bargain purchase gain | — | % |  | — | % |  | (1.4) | %
GILTI | 0.6 | % |  | 2.0 | % |  | 2.0 | %
R&D Credit | (0.4) | % |  | (0.5) | % |  | (0.2) | %
Effective rate | 25.2 | % |  | 26.3 | % |  | 26.2 | %
Schedule of Components of Deferred Income Tax Assets and Liabilities | The components of deferred income tax assets and liabilities were as follows:
(in millions) | September 30, 2025 |  | September 30, 2024
Deferred tax assets: |  |  |
Share-based compensation | $ | 21.0 |  |  | $ | 12.2 |
Deferred compensation | — |  |  | 5.4 |
Net operating loss carryforwards | 31.5 |  |  | 19.6 |
Capitalized interest | 5.0 |  |  | — |
Bad debt reserve | 7.7 |  |  | 7.2 |
Foreign tax credit carryforwards | 0.4 |  |  | 1.2 |
Other compensation | 9.8 |  |  | 7.5 |
Pension | 2.9 |  |  | 2.5 |
Right of use assets | 30.2 |  |  | 30.1 |
Property and equipment | 2.1 |  |  | 3.4 |
Other | 2.4 |  |  | 2.9 |
Total gross deferred tax assets | 113.0 |  |  | 92.0 |
Less valuation allowance | (18.5) |  |  | (15.5) |
Deferred tax assets | 94.5 |  |  | 76.5 |
Deferred income tax liabilities: |  |  |
Unrealized gain on securities | 4.1 |  |  | 3.1 |
Prepaid expenses | 2.7 |  |  | 2.5 |
Intangibles | 105.2 |  |  | — |
Right of use liabilities | 25.2 |  |  | 26.7 |
Mark to market on inventory | 7.6 |  |  | 3.8 |
Other deferred liabilities | 3.3 |  |  | 0.5 |
Deferred compensation | 9.3 |  |  | — |
Hedging | 2.0 |  |  | 2.2 |
Deferred income tax liabilities | 159.4 |  |  | 38.8 |
Deferred income taxes, net | $ | (64.9) |  |  | $ | 37.7 |
Schedule of Roll Forward of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
| Year Ended September 30,
(in millions) | 2025 |  | 2024 |  | 2023
Balance, beginning of year | $ | 0.3 |  |  | $ | — |  |  | $ | — |
Gross increases for tax positions related to current year | — |  |  | — |  |  | — |
Gross increases for tax positions related to prior years | 0.4 |  |  | 0.3 |  |  | — |
Gross decreases for tax positions of prior years | — |  |  | — |  |  | — |
Settlements | — |  |  | — |  |  | — |
Lapse of statute of limitations | (0.2) |  |  | — |  |  | — |
Balance, end of year | $ | 0.5 |  |  | $ | 0.3 |  |  | $ | — |

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