Income Taxes

9 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

For the three and nine months ended June 30, 2020, the Company had income tax expense of $0.6 and $16.5, respectively, on Earnings before income taxes of $5.3 and $63.1, respectively. The effective tax rate for the three and nine months ended June 30, 2020, was 11.9% and 26.1%, respectively. The difference between the federal statutory rate and the effective rate for the three months ended June 30, 2020 primarily due to the favorable mix of earnings in lower tax rate jurisdictions. The difference between the federal statutory rate and the effective rate for nine months ended June 30, 2020 is primarily due to the unfavorable impact of the sale of the Infant and Pet Care business.

For the three and nine months ended June 30, 2019, the Company had an income tax benefit of $42.0 and $18.5, respectively, on Loss before income taxes of $502.7 and $431.4, respectively. The effective tax rate for the three and nine months ended June 30, 2019 was 8.4% and 4.3%, respectively. The difference between the federal statutory rate and the effective rate is primarily due to the impairment of goodwill and intangible assets, a portion of which are non-deductible, resulting in a lower tax benefit on a net loss. The nine-month rate was also unfavorably impacted by a $4.7 net transitional charge resulting from the enactment of the Tax Cuts and Jobs Act (the “Tax Act”) in the first quarter of fiscal 2019.