Income Taxes

12 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Table 11.1: Components of Provision for Income Taxes
	For the Year Ended September 30,
	2025		2024		2023
	(in thousands)
Current provision/(benefit):
Federal	$	96,446	$	82,875	$	34,033
State and local	31,245		26,951		12,332
Foreign	14,840		25,791		584
Total current provision for income taxes	142,531		135,617		46,949
Deferred tax expense/(benefit):
Federal	(11,499)		(16,347)		(1,495)
State and local	(3,861)		(5,447)		(673)
Foreign	(1,356)		(14,228)		3,720
Total deferred tax expense/(benefit)	(16,716)		(36,022)		1,552
Provision for income taxes	$	125,815	$	99,595	$	48,501

Table 11.2: Components of Income before Provision for Income Taxes by Jurisdiction
	For the Year Ended September 30,
	2025		2024		2023
	(in thousands)
Domestic	$	438,863	$	377,594	$	198,115
Foreign	5,986		28,915		12,178
Income before provision for income taxes	$	444,849	$	406,509	$	210,293

Table 11.3: Reconciliation of Tax Expense at Statutory Rate to Actual Tax Expense
	For the Year Ended September 30,
	2025				2024				2023
	Amount		(1)		Amount		(1)		Amount		(1)
	(dollars in thousands)
Tax expense at statutory rate	$	93,418	21.0	%	$	85,367	21.0	%	$	44,162	21.0	%
Increase/(decrease) due to:
State income taxes, net of federal benefit	24,203		5.4	%	21,582		5.3	%	11,501		5.5	%
Foreign taxation rate differentials	80		—	%	875		0.2	%	(590)		(0.3)	%
Non-deductible expenses	4,147		0.9	%	2,444		0.6	%	2,889		1.4	%
Global intangible low taxed income	750		0.2	%	1,257		0.3	%	2,274		1.1	%
Valuation allowance - foreign jurisdictions	—		—	%	734		0.2	%	2,010		1.0	%
Tax credits	(6,384)		(1.4)	%	(8,997)		(2.2)	%	(6,645)		(3.2)	%
Divestiture-related charges	8,379		1.9	%	—		—	%	—		—	%
Excess tax expense/(benefits) from stock-based compensation	(1,546)		(0.3)	%	(1,656)		(0.4)	%	(1,399)		(0.7)	%
Other	2,768		0.6	%	(2,011)		(0.5)	%	(5,701)		(2.7)	%
Income tax expense	$	125,815	28.3	%	$	99,595	24.5	%	$	48,501	23.1	%

(1)Percentage of income before provision for income taxes.

Table 11.4: Components of Deferred Tax Assets and Liabilities
	As of September 30,
	2025		2024
	(in thousands)
Deferred tax assets/(liabilities):
Costs deductible in future periods	$	44,686	$	42,856
Deferred revenue	11,756		10,459
Stock compensation	10,363		7,482
Capital loss carryforward	204		7,872
Net operating loss carryforwards	8,128		35,492
Amortization of goodwill and intangibles	(176,438)		(183,406)
Capitalized software	(19,820)		(23,661)
Accounts receivable - unbilled	—		(4,731)
Property and equipment	28		1,286
Prepaid expenses	(13,946)		(11,696)
Financial instruments	(1,013)		(2,413)
Valuation allowance	(967)		(31,956)
Other	(510)		(1,901)
Net deferred tax liability	$	(137,529)	$	(154,317)

Our deferred tax assets and liabilities are held in various national and international jurisdictions and therefore may not be 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,
	2025		2024
	(in thousands)
Total of tax jurisdictions with net deferred tax assets	$	11,491	$	14,801
Total of tax jurisdictions with net deferred tax liabilities	(149,020)		(169,118)
Net deferred tax liabilities	$	(137,529)	$	(154,317)

We consider our foreign earnings in excess of the earnings subject to the one-time transition tax to be indefinitely reinvested outside of the U.S. in accordance with the relevant accounting guidance for income taxes. Accordingly, no U.S. deferred taxes were recorded with respect to such earnings. As of September 30, 2025, our foreign subsidiaries held approximately $49.6 million of cash and cash equivalents in either U.S. Dollars or local currencies.

The provision for income taxes includes all provision to return adjustments included in the year recognized in the financial statements.

We account for uncertain tax positions by recognizing the financial statement effects of a tax position only when, based upon the technical merits, it is "more likely than not" that the position will be sustained upon examination. The total amount of unrecognized tax benefits that, if recognized, would affect our annual effective income tax rate was $5.0 million and $3.4 million at September 30, 2025 and 2024, respectively.

We report interest and penalties as a component of income tax expense. We recognize and present uncertain tax positions on a gross basis (i.e., without regard to likely offsets for deferred tax assets, deductions, and/or credits that would result from payment of uncertain tax amounts).

Table 11.6: Reconciliation of the Beginning and Ending Amounts of Potential Tax Benefits
	For the Year Ended September 30,
	2025		2024		2023
	(in thousands)
Balance at beginning of year	$	10,892	$	6,233	$	8,676
Decreases for lapse of statute of limitations	(300)		—		(2,051)
Decreases for settlements with taxing authorities	—		—		(692)
Increases for tax positions taken in current year	500		1,100		300
Increases for tax positions taken in prior year	4,841		6,148		—
Decreases for tax positions taken in prior year	(33)		(2,589)		—
Balance at end of year	$	15,900	$	10,892	$	6,233

We file income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. We are no longer subject to federal income tax examinations for years before 2022 and to state and local income tax examinations by tax authorities for years before 2020. In international jurisdictions, similar rules apply to filed income tax returns, although the tax examination limitations and requirements may vary. We are no longer subject to audit by tax authorities for foreign jurisdictions for years prior to 2021.