Income Taxes

9 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

	Three Months Ended   March 31,						Nine Months Ended   March 31,
	2022			2021			2022			2021
	(in millions)
Provision for income taxes	$	46.8		$	51.9		$	62.4		$	72.7
Effective tax rate	21.0		%	23.9		%	17.7		%	20.2		%
Excess tax benefits	$	2.2		$	1.7		$	13.6		$	14.6

The decrease in the effective tax rate for the three and nine months ended March 31, 2022 was driven by higher total discrete tax items, inclusive of the excess tax benefits related to equity compensation, compared to the prior year period.