Income Taxes (Tables)

12 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

	2015		2014		2013
Components of income before income taxes:
United States	$	660.5	$	607.3	$	513.5
Non-United States	467.0		526.9		467.4
Total	$	1,127.5	$	1,134.2	$	980.9

Schedule of Components of Income Tax Expense (Benefit)

Components of the income tax provision:
Current:
United States	$	238.6		$	219.4		$	164.5
Non-United States	73.6			85.3			51.1
State and local	17.0			9.9			15.5
Total current	329.2			314.6			231.1
Deferred:
United States	(30.3		)	(3.8		)	(1.3		)
Non-United States	2.6			(4.0		)	(2.9		)
State and local	(1.6		)	0.6			(2.3		)
Total deferred	(29.3		)	(7.2		)	(6.5		)
Income tax provision	$	299.9		$	307.4		$	224.6
Total income taxes paid	$	313.1		$	323.8		$	203.9

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the U.S. federal statutory rate and our effective tax rate was:

	2015		2014		2013
Statutory tax rate	35.0	%	35.0	%	35.0	%
State and local income taxes	0.9		0.8		0.9
Non-United States taxes	(7.9	)	(9.5	)	(9.6	)
Tax effect of foreign dividends	(0.2	)	0.5		0.8
Employee stock ownership plan benefit	(0.2	)	(0.2	)	(0.2	)
Change in valuation allowances	(0.5	)	(0.1	)	(0.4	)
Domestic manufacturing deduction	(1.2	)	(1.1	)	(1.1	)
Adjustments for prior period tax matters	0.5		1.0		(2.0	)
Other	0.2		0.7		(0.5	)
Effective income tax rate	26.6	%	27.1	%	22.9	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to our net deferred income tax assets (liabilities) at September 30, 2015 and 2014 were (in millions):

	2015			2014
Current deferred income tax assets:
Compensation and benefits	$	28.4		$	33.7
Product warranty costs	10.3			12.3
Inventory	15.3			18.3
Allowance for doubtful accounts	8.8			8.8
Deferred credits	9.2			7.5
Returns, rebates and incentives	50.8			54.5
Self-insurance reserves	0.6			0.9
Restructuring reserves	2.6			2.1
Net operating loss carryforwards	3.3			3.5
U.S. federal tax credit carryforwards	—			0.2
Other — net	21.9			21.7
Current deferred income tax assets	151.2			163.5
Long-term deferred income tax assets (liabilities):
Retirement benefits	$	371.2		$	240.4
Property	(74.9		)	(81.9		)
Intangible assets	(53.2		)	(50.2		)
Environmental reserves	15.9			16.9
Share-based compensation	35.5			32.6
Self-insurance reserves	9.4			7.9
Deferred gains	2.0			2.4
Net operating loss carryforwards	22.6			31.9
Capital loss carryforwards	13.6			14.8
U.S. federal tax credit carryforwards	1.2			1.3
State tax credit carryforwards	7.3			5.8
Other — net	15.2			11.6
Subtotal	365.8			233.5
Valuation allowance	(22.2		)	(27.8		)
Net long-term deferred income tax assets	343.6			205.7
Total net deferred income tax assets	$	494.8		$	369.2

Schedule of Tax Attributes and Valuation Allowances

Tax attributes and related valuation allowances at September 30, 2015 are (in millions):

Tax Attribute to be Carried Forward	Tax Benefit Amount		Valuation Allowance		Carryforward Period Ends
Non-United States net operating loss carryforward	$	5.8	$	5.8	2016	-	2025
Non-United States net operating loss carryforward	6.5		1.7		Indefinite
Non-United States capital loss carryforward	13.6		13.6		Indefinite
United States net operating loss carryforward	3.6		—		2019	-	2033
United States tax credit carryforward	1.2		—		2018	-	2027
State and local net operating loss carryforward	10.0		0.2		2016	-	2033
State tax credit carryforward	7.3		—		2025	-	2030
Subtotal — tax carryforwards	48.0		21.3
Other deferred tax assets	0.9		0.9		Indefinite
Total	$	48.9	$	22.2

Summary of Income Tax Contingencies

A reconciliation of our gross unrecognized tax benefits, excluding interest and penalties, is as follows (in millions):

	2015			2014			2013
Gross unrecognized tax benefits balance at beginning of year	$	38.9		$	40.8		$	70.3
Additions based on tax positions related to the current year	2.1			1.0			1.1
Additions based on tax positions related to prior years	11.6			2.2			8.8
Reductions based on tax positions related to prior years	(1.0		)	—			—
Reductions related to settlements with taxing authorities	(4.3		)	—			(36.2		)
Reductions related to lapses of statute of limitations	(1.6		)	(4.2		)	(1.2		)
Effect of foreign currency translation	(1.8		)	(0.9		)	(2.0		)
Gross unrecognized tax benefits balance at end of year	$	43.9		$	38.9		$	40.8