XML 60 R10.htm IDEA: XBRL DOCUMENT v2.4.1.9
Income Taxes
6 Months Ended
Mar. 31, 2015
Income Taxes  
Income Taxes

 

Note 4.    Income Taxes

 

Income tax expense for the three and six months ended March 31, 2014 and 2015 differed from the U.S. federal statutory rate of 35% primarily due to state income taxes, differing tax rates on foreign earnings and discrete tax items that impacted income tax expense in these periods. The effective tax rate for the three months ended March 31, 2015 was 32.2% compared to 4.7% in the same period of fiscal 2014.  The lower effective tax rate for the second quarter of fiscal 2014 is primarily attributable to a reduction in the Indiana tax rate, which resulted in a decrease to the deferred tax asset. The effective tax rate for the six-months ended March 31, 2015 was 32.8% compared to 31.0% in the same period of fiscal 2014.  This increase is attributable to a change in our manufacturer’s deduction in the first quarter of fiscal 2014.