Income Taxes

9 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

9. Income Taxes

The following table summarizes the Company’s income tax expense (benefit) and effective income tax rate for the three and nine months ended June 30, 2024 and 2023.

	Three Months Ended June 30,						Nine Months Ended June 30,
	2024			2023			2024			2023
Income (loss) before income taxes	$	33.4		$	24.4		$	58.3		$	(29.6	)
Income tax expense (benefit)		9.9			7.6			17.5			(5.5	)
Effective income tax rate		29.6	%		31.1	%		30.0	%		18.6	%

The decrease in the effective tax rate for the three months ended June 30, 2024, when compared to the three months ended June 30, 2023, is primarily attributable to the distribution of pre-tax earnings across legal entities.

The increase in the effective tax rate for the nine months ended June 30, 2024, when compared to the nine months ended June 30, 2023, is primarily attributable to the increase in pre-tax book income from the gain on sale of the U.S. Lawns subsidiary as well as the distribution of pre-tax earnings across legal entities.