Income Taxes

9 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

For the three and nine months ended June 30, 2024, the Company had income tax expenses of $13.5 and $25.7, respectively, on Earnings before income taxes of $62.5 and $115.5, respectively. The effective tax rate for the three and nine months ended June 30, 2024 was 21.6% and 22.2%, 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 nine months ended June 30, 2023, the Company had income tax expenses of $17.8 and $29.6, respectively, on Earnings before income taxes of $70.8 and $114.4, respectively. The effective tax rate for the three and nine months ended June 30, 2023 was 25.3% and 25.9%, 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.