Income Taxes (Tables)

12 Months Ended

Sep. 30, 2017

Income Taxes

Schedule of components of income before provision for income taxes

	Year Ended September 30,
	2015		2016		2017
Income (loss) before income taxes:
U.S.	$	36,327	$	(4,160)	$	(25,090)
Foreign		10,849		7,911		7,873
Total	$	47,176	$	3,751	$	(17,217)
Provision for (benefit from) income taxes:
Current:
U.S. Federal	$	11,207	$	(4,427)	$	933
Foreign		1,690		1,368		1,652
State		686		(141)		401
Total		13,583		(3,200)		2,986
Deferred:
U.S. Federal		(79)		4,582		(8,781)
Foreign		690		(105)		—
State		2,368		(2,954)		(1,427)
Valuation allowance		128		408		195
Total		3,107		1,931		(10,013)
Total provision for (benefit from) income taxes	$	16,690	$	(1,269)	$	(7,027)

Schedule of provision for income taxes applicable to results of operations differed from the U.S. federal statutory rate

	Year Ended September 30,
	2015			2016			2017
Statutory federal tax rate		35	%		35	%		35	%
Tax provision for income taxes at the statutory rate	$	16,512		$	1,313		$	(6,026)
Foreign tax rate differentials		(1,417)			(1,505)			(1,103)
Provision for state taxes, net of federal taxes		818			778			(371)
U.S. tax on distributed and undistributed earnings of foreign subsidiaries		419			523			452
Manufacturer’s deduction		(1,213)			(98)			—
Tax credits		(240)			(1,198)			(409)
State tax rate change impact on deferred tax asset		1,565			(1,819)			192
Change in valuation allowance		128			408			195
Other, net		118			329			43
Provision for income taxes at effective tax rate	$	16,690		$	(1,269)		$	(7,027)
Effective tax rate		35.4	%		(33.8)	%		40.8	%

Schedule of deferred tax assets (liabilities)

	September 30,
	2016		2017
Deferred tax assets:
Pension and postretirement benefits	$	93,238	$	74,602
TIMET Agreement		9,361		8,417
Inventories		3,405		2,080
Accrued compensation and benefits		2,264		2,107
Accrued expenses and other		3,132		5,277
Tax attributes		1,642		11,579
Valuation allowance		(532)		(1,017)
Total deferred tax assets	$	112,510	$	103,045
Deferred tax liabilities:
Property, plant and equipment, net	$	(41,645)	$	(45,155)
Intangible and other		(1,433)		(1,498)
Total deferred tax liabilities	$	(43,078)	$	(46,653)
Net deferred tax assets (liabilities)	$	69,432	$	56,392