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Income Taxes (Tables)
 12 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
Selected income tax data (in millions):
202420232022
Components of Income before income taxes   
United States$388.3 $794.2 $371.3 
Non-United States710.8 814.3 702.3 
Total$1,099.1 $1,608.5 $1,073.6 
Schedule of Components of Income Tax Expense (Benefit)
Components of Income tax provision   
Current   
United States$78.3 $221.3 $71.6 
Non-United States127.6 160.6 102.9 
State and local14.0 48.7 13.6 
Total current219.9 430.6 188.1 
Deferred   
United States(42.1)(84.6)(10.7)
Non-United States(11.8)6.0 (13.0)
State and local(14.2)(21.5)(9.9)
Total deferred(68.1)(100.1)(33.6)
Income tax provision$151.8 $330.5 $154.5 
Total income taxes paid$478.6 $344.9 $340.2 
Schedule of Effective Income Tax Rate Reconciliation
The reconciliation between the U.S. federal statutory rate and our effective tax rate was:
202420232022
Statutory tax rate21.0 %21.0 %21.0 %
State and local income taxes0.2 1.5 0.5 
Non-United States taxes(4.2)(4.7)(5.4)
Repatriation of foreign earnings0.9 0.9 1.1 
Foreign-derived intangible income(0.7)(0.6)(0.5)
Settlements with taxing authorities and tax refund claims(1.2)0.3 — 
Change in valuation allowance (1)
0.5 4.1 (0.5)
Share-based compensation(0.2)(0.6)(1.0)
Research and development tax credit(2.0)(1.3)(1.0)
Other(0.5)(0.1)0.2 
Effective income tax rate13.8 %20.5 %14.4 %
(1) During fiscal year 2023, the effective tax rate increased by 4.1% resulting from a valuation allowance recorded on certain deferred tax assets of our Sensia joint venture and tax effects of the related goodwill impairment.
Schedule of Deferred Tax Assets and Liabilities
The tax effects of temporary differences that give rise to our net deferred income tax assets (liabilities) consists of (in millions):
20242023
Deferred income tax assets  
Compensation and benefits$18.0 $35.0 
Inventory22.5 15.5 
Returns, rebates, and incentives62.1 75.1 
Retirement benefits88.4 85.4 
Environmental remediation and other site-related costs23.6 23.6 
Share-based compensation25.5 22.7 
Other accruals and reserves385.5 333.3 
Net operating loss carryforwards69.6 60.8 
Tax credit carryforwards14.2 9.2 
Capital loss carryforwards15.4 14.4 
Other58.5 48.1 
Subtotal783.3 723.1 
Valuation allowance(97.5)(89.1)
Net deferred income tax assets685.8 634.0 
Deferred income tax liabilities  
Property(52.0)(44.1)
Intangible assets(119.8)(144.8)
Investments— — 
Unremitted earnings of foreign subsidiaries(36.8)(27.2)
Other— (1.8)
Deferred income tax liabilities(208.6)(217.9)
Total net deferred income tax assets$477.2 $416.1 
Schedule of Tax Attributes and Valuation Allowances
Tax attributes and related valuation allowances at September 30, 2024 consists of (in millions):
Tax attributes and related valuation allowancesTax Benefit AmountValuation AllowanceCarryforward
Period Ends
Non-United States net operating loss carryforward$10.7 $2.1 2025-9/30/2044
Non-United States net operating loss carryforward51.8 47.9 Indefinite
Non-United States capital loss carryforward15.4 15.4 Indefinite
Non-United States credit carryforward1.9 — 2039-2044
United States credit carryforward0.3 — 2030-2041
State and local net operating loss carryforward7.1 2.8 2025-2040
State tax credit carryforward12.0 — 2033-2038
Subtotal99.2 68.2 
Other deferred tax assets29.3 29.3 Indefinite
Total$128.5 $97.5 
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of our gross unrecognized tax benefits, excluding interest and penalties, is as follows (in millions):
202420232022
Gross unrecognized tax benefits balance at beginning of year$9.8 $3.9 $4.3 
Additions based on tax positions related to the current year5.4 3.9 0.1 
Additions based on tax positions related to prior years10.0 3.2 — 
Reductions related to settlements with taxing authorities— (1.0)(0.5)
Reductions related to lapses of statute of limitations(0.2)(0.2)— 
Gross unrecognized tax benefits balance at end of year$25.0 $9.8 $3.9