XML 64 R38.htm IDEA: XBRL DOCUMENT
v3.23.3

Income Taxes (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) |
Table 11.1: Components of Provision for Income Taxes
| For the Year Ended September 30,
| 2023 |  | 2022 |  | 2021
| (in thousands)
Current provision/(benefit): |  |  |  |  |
Federal | $ | 34,033 |  |  | $ | 45,042 |  |  | $ | 62,062 |
State and local | 12,332 |  |  | 15,371 |  |  | 20,077 |
Foreign | 584 |  |  | 2,653 |  |  | 16,919 |
Total current provision for income taxes | 46,949 |  |  | 63,066 |  |  | 99,058 |
Deferred tax expense/(benefit): |  |  |  |  |
Federal | (1,495) |  |  | 7,107 |  |  | (2,527) |
State and local | (673) |  |  | 2,130 |  |  | (590) |
Foreign | 3,720 |  |  | 967 |  |  | (3,460) |
Total deferred tax expense/(benefit) | 1,552 |  |  | 10,204 |  |  | (6,577) |
Provision for income taxes | $ | 48,501 |  |  | $ | 73,270 |  |  | $ | 92,481 |
Schedule of Income before Income Tax, Domestic and Foreign |
Table 11.2: Components of Income before Provision for Income Taxes by Country
| For the Year Ended September 30,
| 2023 |  | 2022 |  | 2021
| (in thousands)
Domestic | $ | 198,115 |  |  | $ | 274,641 |  |  | $ | 339,647 |
Foreign | 12,178 |  |  | 2,457 |  |  | 44,034 |
Income before provision for income taxes | $ | 210,293 |  |  | $ | 277,098 |  |  | $ | 383,681 |
Schedule of Effective Income Tax Rate Reconciliation |
Table 11.3: Reconciliation of Tax Expense at Statutory Rate to Actual Tax Expense
| For the Year Ended September 30,
| 2023 |  | 2022 |  | 2021
| (dollars in thousands)
Tax expense at statutory rate | $ | 44,162 |  |  | $ | 58,190 |  |  | $ | 80,573 |
Increase/(decrease) due to: |  |  |  |  |
State income taxes, net of federal benefit | 11,501 |  |  | 14,244 |  |  | 18,350 |
Foreign taxation rate differentials | (590) |  |  | (709) |  |  | 4,212 |
Non-deductible expenses | 2,889 |  |  | 882 |  |  | 2,254 |
Global intangible low taxed income | 2,274 |  |  | — |  |  | — |
Valuation allowance - foreign jurisdictions | 2,010 |  |  | 4,875 |  |  | 2,285 |
Tax credits | (6,645) |  |  | (5,239) |  |  | (5,072) |
Excess tax expense/(benefits) from stock-based compensation | (1,399) |  |  | 1,143 |  |  | (6,008) |
Other | (5,701) |  |  | (116) |  |  | (4,113) |
Income tax expense | $ | 48,501 |  |  | $ | 73,270 |  |  | $ | 92,481 |
U.S. Federal Statutory tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Effective tax rate | 23.1 | % |  | 26.4 | % |  | 24.1 | %
Schedule of Deferred Tax Assets and Liabilities |
Table 11.4: Components of Deferred Tax Assets and Liabilities
| As of September 30,
| 2023 |  | 2022
| (in thousands)
Deferred tax assets/(liabilities): |  |  |
Costs deductible in future periods | $ | 37,036 |  |  | $ | 36,604 |
Deferred revenue | 8,712 |  |  | 7,273 |
Stock compensation | 6,212 |  |  | 4,918 |
Capital loss carryforward | 2,391 |  |  | 2,391 |
Net operating loss carryforwards | 33,278 |  |  | 6,666 |
Amortization of goodwill and intangibles | (189,316) |  |  | (198,903) |
Capitalized software | (28,246) |  |  | (15,445) |
Accounts receivable - unbilled | (7,963) |  |  | (12,087) |
Property and equipment | (3,437) |  |  | (2,577) |
Prepaid expenses | (10,906) |  |  | (11,522) |
Financial instruments | (8,158) |  |  | (8,261) |
Valuation allowance | (34,643) |  |  | (8,075) |
Other | (6,399) |  |  | (2,111) |
Net deferred tax liability | $ | (201,439) |  |  | $ | (201,129) |
Our deferred tax assets and liabilities are held in various national and international jurisdictions that do not allow right of offset. Accordingly, our presentation of deferred taxes on our consolidated balance sheets is split between jurisdictions that show a net deferred tax asset and a net deferred tax liability.
Table 11.5: Deferred Tax Assets and Liabilities By Jurisdiction Positions
| As of September 30,
| 2023 |  | 2022
| (in thousands)
Total of tax jurisdictions with net deferred tax assets | $ | 2,459 |  |  | $ | 4,970 |
Total of tax jurisdictions with net deferred tax liabilities | (203,898) |  |  | (206,099) |
Net deferred tax liabilities | $ | (201,439) |  |  | $ | (201,129) |
Summary of Income Tax Contingencies |
Table 11.6: Reconciliation of the Beginning and Ending Amounts of Potential Tax Benefits
| For the Year Ended September 30,
| 2023 |  | 2022 |  | 2021
| (in thousands)
Balance at beginning of year | $ | 8,676 |  |  | $ | 12,642 |  |  | $ | 1,798 |
Additions for acquired unrecognized tax benefits | — |  |  | — |  |  | 11,244 |
Decreases for lapse of statute of limitations | (2,051) |  |  | (1,412) |  |  | — |
Decreases for settlements with taxing authorities | (692) |  |  | (4,785) |  |  | — |
Increases for tax positions taken in current year | 300 |  |  | 2,231 |  |  | 300 |
Decreases for tax positions taken in current year | — |  |  | — |  |  | (700) |
Balance at end of year | $ | 6,233 |  |  | $ | 8,676 |  |  | $ | 12,642 |

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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -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 for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration