Income Taxes (Tables)

12 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The provision for income taxes was as follows during fiscal 2024, 2023 and 2022: 

	Year ended September 30,
	2024		2023		2022
	(In thousands)
Current:
Federal	$	110,402	$	112,456	$	50,403
State	10,199		16,844		8,952
Foreign	35,943		42,327		30,597
	156,544		171,627		89,952
Deferred:
Federal	(26,227)		(37,884)		8,165
State	(1,712)		(15,025)		507
Foreign	609		5,531		(856)
	(27,330)		(47,378)		7,816
Total provision	$	129,214	$	124,249	$	97,768

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities at September 30, 2024 and 2023 were as follows: 

	September 30,
	2024		2023
	(In thousands)
Deferred tax assets:
Loss and credit carryforwards	$	7,717	$	12,309
Compensation benefits	32,093		30,490
Operating lease liabilities	7,881		9,396
Research and development costs	67,795		34,730
Other assets	18,241		17,327
	133,727		104,252
Less: valuation allowance	—		(2,183)
Total deferred tax assets	133,727		102,069
Deferred tax liabilities:
Intangible assets	(7,812)		(7,226)
Deferred commission	(14,484)		(14,017)
Operating lease right-of-use assets	(7,240)		(6,228)
Other liabilities	(17,678)		(15,462)
Total deferred tax liabilities	(47,214)		(42,933)
Deferred tax assets, net	$	86,513	$	59,136

Reconciliation Between Federal Statutory Income Tax Rate and Effective Tax Rate

A reconciliation of the provision for income taxes, with the amount computed by applying the U.S. federal statutory income tax rate of 21% to income before provision for income taxes for fiscal 2024, 2023 and 2022 is shown below:

	Year Ended September 30,
	2024		2023		2022
	(In thousands)
Income tax provision at U.S. federal statutory rate	$	134,825	$	116,261	$	98,975
State income taxes, net of U.S. federal benefit	13,109		14,135		8,359
Foreign tax rate differential	6,675		9,489		3,058
Research credits	(5,472)		(3,600)		(5,932)
Valuation allowance	(2,183)		(14,451)		(11,768)
Excess tax benefits relating to share-based compensation	(14,907)		(949)		702
GILTI, FDII, BEAT and FTC	(9,265)		(9,010)		(2,491)
Other	6,432		12,374		6,865
Recorded income tax provision	$	129,214	$	124,249	$	97,768

Schedule of Unrecognized Tax Benefits Roll Forward

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

	Year Ended September 30,
	2024		2023		2022
	(In thousands)
Gross unrecognized tax benefits at beginning of year	$	13,849	$	12,980	$	10,897
Gross increases for tax positions in prior years	4,769		—		593
Gross decreases for tax positions in prior years	(1,956)		(1,127)		—
Gross increases based on tax positions related to the current year	4,277		3,650		3,250
Decreases for settlements and payments	—		(523)		—
Decreases due to statute expiration	(1,060)		(1,131)		(1,760)
Gross unrecognized tax benefits at end of year	$	19,879	$	13,849	$	12,980