Income Taxes

6 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

For the three and six months ended March 31, 2024, the Company had income tax expense of $11.0 and $12.2, respectively, on Earnings before income taxes of $47.0 and $53.0, respectively. The effective tax rate for the three and six months ended March 31, 2024 was 23.4% and 23.0%, respectively. The difference between the federal statutory rate and the effective rate is primarily due to an unfavorable mix of earnings in higher tax rate jurisdictions.

For the three and six months ended March 31, 2023, the Company had income tax expense of $7.2 and $11.8, respectively, on Earnings before income taxes of $26.6 and $43.6, respectively. The effective tax rate for the three and six months ended March 31, 2023 was 27.0% and 26.9%, respectively. The difference between the federal statutory rate and the effective rate was primarily due to an unfavorable mix of earnings in higher tax rate jurisdictions.