Income Taxes (Tables)

12 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

Income tax expense consisted of the following for the years ended September 30:

(In millions)	2022		2021		2020
Current
Federal	$	9.4	$	(0.9)	$	(14.4)
State	4.3		2.1		(2.6)
Non-U.S.	3.0		1.8		1.7
	16.7		3.0		(15.3)
Deferred
Federal	16.2		47.7		43.8
State	1.3		9.0		24.8
Non-U.S.	0.5		0.2		0.1
	18.0		56.9		68.7
Income tax expense	$	34.7	$	59.9	$	53.4

Schedule and Reconciliation of the Statutory Federal Income Tax

The following presents pre-tax income and the principal components of the reconciliation between the effective tax rate and the U.S. federal statutory income tax rate in effect for the years ended September 30:

(In millions)	2022			2021			2020
Income before income taxes
United States	$	119.1		$	250.8		$	115.6
Non-U.S.	25.0			9.2			7.4
Total income before income taxes	$	144.1		$	260.0		$	123.0
U.S. statutory tax rate	21		%	21		%	21		%
Income taxes computed at U.S. statutory tax rate	$	30.3		$	54.6		$	25.8
(Decrease) increase in amount computed resulting from:
Unrecognized tax benefits	0.1			0.8			0.6
State taxes, net of federal benefit	5.2			9.3			3.7
International rate differential	(0.4)			—			0.2
Permanent items	(1.0)			0.5			0.4
Remeasurement of net deferred taxes	(0.5)			0.1			1.0
Return-to-provision adjustments	(0.4)			0.6			(0.8)
Change in valuation allowances	1.8			—			28.7
Tax Matters Agreement activity	—			(5.6)			(6.4)
Other	(0.4)			(0.4)			0.2
Income tax expense	$	34.7		$	59.9		$	53.4
Effective tax rate	24.1		%	23.0		%	43.4		%

Schedule of Deferred Tax Assets and Liabilities

A summary of the deferred tax assets and liabilities included in the Consolidated Balance Sheets follows as of September 30:

(In millions)	2022		2021
Deferred tax assets
Non-U.S. net operating loss carryforwards (a)	$	0.7	$	0.6
State net operating loss carryforwards (b)	17.5		17.6
Employee benefit obligations	43.6		45.5
Compensation accruals	22.8		25.0
Credit carryforwards (c)	12.3		12.4
Operating lease liabilities	99.6		90.9
Outside basis difference (d)	99.1		—
Other	23.0		18.7
Valuation allowances (e)	(33.3)		(31.8)
Net deferred tax assets	285.3		178.9
Deferred tax liabilities
Goodwill and other intangibles	18.7		18.1
Property, plant and equipment	131.6		111.5
Operating lease assets	74.5		70.5
Total deferred tax liabilities	224.8		200.1
Total net deferred tax assets (liabilities) (f)	$	60.5	$	(21.2)

(a)Gross non-U.S. net operating loss carryforwards of $2.4 million expire in fiscal years 2039 to 2042.

(b)Apportioned gross state net operating loss carryforwards of $361.3 million expire in fiscal years 2023 through 2034.

(c)Credit carryforwards consist primarily of U.S. tax credits that generally expire in fiscal years 2025 through 2036.

(d)Outside tax over GAAP basis difference recorded through discontinued operations.

(e)Valuation allowances at September 30, 2022 primarily relate to state net operating loss carryforwards and certain other federal legacy tax attributes that are not expected to be realized or realizable.

(f)Balances are presented in the Consolidated Balance Sheets based on the net position of each tax jurisdiction.

Schedule of Gross Unrecognized Tax Benefits

The aggregate changes in the balance of gross unrecognized tax benefits were as follows for the years ended September 30:

(In millions)	2022		2021		2020
Gross unrecognized tax benefits as of October 1	$	8.7	$	13.4	$	12.4
Increases related to tax positions from prior years	0.1		1.5		0.5
Decreases related to tax positions from prior years	(0.6)		(1.3)		—
Increases related to tax positions taken during the current year	0.8		0.7		0.9
Settlements with tax authorities	—		(4.2)		—
Lapses of statutes of limitation	(0.8)		(1.4)		(0.4)
Gross unrecognized tax benefits as of September 30 (a)	$	8.2	$	8.7	$	13.4

(a)These unrecognized tax benefits would favorably impact the continuing operations and discontinued operations effective income tax rates, if recognized. Accruals for interest and penalties were $1.2 million as of September 30, 2022 and $1.1 million as of September 30, 2021.