Income Taxes (Tables)

12 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of Income of U.S. and Foreign Operations Before Taxes

The following table summarizes the income of U.S. and foreign operations before taxes:

	2019		2018		2017
Income from Continuing Operations Before Taxes
United States		$723.3		$688.5		$669.8
Foreign	1,350.8		1,151.7		666.2
Income from equity affiliates	215.4		174.8		80.1
Total		$2,289.5		$2,015.0		$1,416.1

Schedule of Components of Income Tax Expense (Benefit)

The following table details the components of the provision for income taxes:

	2019		2018			2017
Current Tax Provision
Federal		$163.7		$305.1			$62.8
State	23.3		17.7			7.0
Foreign	235.5		256.9			229.1
Total Current Tax Provision	422.5		579.7			298.9
Deferred Tax Provision
Federal	9.7		(121.7		)	1.4
State	2.4		12.5			6.0
Foreign	45.5		53.8			(45.4		)
Total Deferred Tax Provision	57.6		(55.4		)	(38.0		)
Total Income Tax Provision		$480.1		$524.3			$260.9

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the differences between the United States federal statutory tax rate and the effective tax rate is as follows:

(Percent of income before taxes)	2019		2018		2017
U.S. federal statutory tax rate	21.0	%	24.5	%	35.0	%
State taxes, net of federal benefit	1.0		1.0		1.0
Income from equity affiliates	(2.0	)	(2.1	)	(2.0	)
Foreign tax differentials	1.0		(1.0	)	(7.9	)
Tax on foreign repatriated earnings	.1		(.4	)	(2.2	)
Domestic production activities	—		(.4	)	(.8	)
Share-based compensation	(.6	)	(1.0	)	(1.2	)
Tax reform repatriation	1.9		19.5		—
Tax reform rate change and other	—		(11.1	)	—
Tax restructuring benefit	—		(1.8	)	—
Non-deductible goodwill impairment charge	—		—		3.6
Non-U.S. subsidiary tax election	—		—		(7.7	)
Business separation costs	—		—		.2
Other	(1.4	)	(1.2	)	.4
Effective Tax Rate	21.0	%	26.0	%	18.4	%

Schedule of Components of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities are as follows:

30 September	2019			2018
Gross Deferred Tax Assets
Retirement benefits and compensation accruals		$227.1			$153.1
Tax loss carryforwards	140.6			143.5
Tax credits and other tax carryforwards	31.1			17.1
Reserves and accruals	69.6			42.5
Currency losses	—			3.8
Other	57.7			45.4
Valuation allowance	(92.1		)	(105.0		)
Deferred Tax Assets	434.0			300.4
Gross Deferred Tax Liabilities
Plant and equipment	954.6			811.8
Currency gains	23.9			—
Unremitted earnings of foreign entities	31.0			36.1
Partnership and other investments	14.8			16.3
Intangible assets	80.0			84.3
Other	8.3			5.6
Deferred Tax Liabilities	1,112.6			954.1
Net Deferred Income Tax Liability		$678.6			$653.7

Schedule of Deferred Tax Assets and Liabilities Included in Consolidated Financial Statements

Deferred tax assets and liabilities are included within the consolidated balance sheets as follows:

	2019		2018
Deferred Tax Assets
Other noncurrent assets		$115.2		$121.4
Deferred Tax Liabilities
Deferred income taxes	793.8		775.1
Net Deferred Income Tax Liability		$678.6		$653.7

Schedule of Deferred Tax Assets for Certain Tax Credits

As of 30 September 2019, the Company had the following deferred tax assets for certain tax credits:

Jurisdiction	Gross Tax Asset		Expiration Period
U.S. State		$1.7	2020 - 2034
U.S. Federal	13.3		2024 - 2029
Foreign	20.8		2020 - 2025; Indefinite

Summary of Tax Credit Carryforwards

As of 30 September 2019, the Company had the following loss carryforwards:

Jurisdiction	Gross Loss Carryforward		Expiration Period
U.S. State Net Operating Loss		$296.3	2020 - 2034
U.S. Federal Capital Loss	1.8		2023
Foreign Net Operating Loss	352.6		2020 - 2029; Indefinite
Foreign Capital Loss	262.5		Indefinite

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the unrecognized tax benefits is as follows:

Unrecognized Tax Benefits	2019			2018			2017
Balance at beginning of year		$233.6			$146.4			$90.2
Additions for tax positions of the current year	7.8			26.4			47.5
Additions for tax positions of prior years	14.2			119.2			16.1
Reductions for tax positions of prior years	(14.7		)	(41.3		)	(4.0		)
Settlements	(1.5		)	(14.2		)	(2.0		)
Statute of limitations expiration	(3.9		)	(2.6		)	(3.2		)
Foreign currency translation	(3.8		)	(.3		)	1.8
Balance at End of Year		$231.7			$233.6			$146.4

Schedule of Income Tax Examinations

We generally remain subject to examination in the following major tax jurisdictions for the years indicated below:

Major Tax Jurisdiction	Open Tax Years
North America
United States – Federal	2016	-	2019
United States – State	2010	-	2019
Canada	2015	-	2019
Europe
France	2016	-	2019
Germany	2013	-	2019
Netherlands	2018	-	2019
Spain	2015	-	2019
United Kingdom	2015	-	2019
Asia
China	2014	-	2019
South Korea	2010	-	2019
Taiwan	2014	-	2019
Latin America
Chile	2016	-	2019