Income Taxes (Tables)

12 Months Ended

Sep. 30, 2023

Income Taxes

Schedule of components of income before provision for income taxes

	Year Ended September 30,
	2021		2022		2023
Income (loss) before income taxes:
U.S.	$	(11,417)	$	38,864	$	37,538
Foreign		1,634		18,750		14,364
Total	$	(9,783)	$	57,614	$	51,902
Provision for (benefit from) income taxes:
Current:
U.S. Federal	$	741	$	2,031	$	7,366
Foreign		349		3,302		2,741
State		228		639		490
Total		1,318		5,972		10,597
Deferred:
U.S. Federal		(2,986)		5,931		(1,509)
Foreign		470		120		459
State		(317)		(300)		25
Valuation allowance		415		804		355
Total		(2,418)		6,555		(670)
Total provision for (benefit from) income taxes	$	(1,100)	$	12,527	$	9,927

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

	Year Ended September 30,
	2021			2022			2023
Statutory federal tax rate		21.00	%		21.00	%		21.00	%
Tax provision for income taxes at the statutory rate	$	(2,054)		$	12,099		$	10,899
Foreign tax rate differentials		(59)			(307)			102
Provision for state taxes, net of federal taxes		(84)			974			822
U.S. tax on distributed and undistributed earnings of foreign subsidiaries		198			984			54
Foreign derived intangible income deduction		—			(966)			(693)
Tax credits		(691)			(702)			(724)
Federal and state tax rate change impact on deferred tax asset		790			(206)			81
Change in valuation allowance		415			804			355
Stock compensation		138			191			46
Other, net		247			(344)			(1,015)
Provision for (benefit from) income taxes at effective tax rate	$	(1,100)		$	12,527		$	9,927
Effective tax rate		11.2	%		21.7	%		19.1	%

Schedule of deferred tax assets (liabilities)

	September 30,
	2022		2023
Deferred tax assets:
Pension and postretirement benefits	$	16,802	$	12,045
TIMET Agreement		2,396		1,801
Inventories		3,225		4,341
Accrued compensation and benefits		2,096		1,451
Accrued expenses and other		2,600		2,526
Tax attributes		5,625		5,596
Other assets		250		1,077
Valuation allowance		(4,695)		(5,052)
Total deferred tax assets	$	28,299	$	23,785
Deferred tax liabilities:
Property, plant and equipment, net	$	(24,081)	$	(22,056)
Intangible and other		(1,414)		(1,511)
Other liabilities		(227)		(296)
Total deferred tax liabilities	$	(25,722)	$	(23,863)
Net deferred tax assets (liabilities)	$	2,577	$	(78)