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Income Taxes
3 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
In December 2020, the U.S. enacted the Consolidated Appropriations Act (“CAA”), which extends certain provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and provides new COVID-19 pandemic (“Pandemic”) relief provisions. As with the CARES Act, the CAA did not have a material impact on our Provision for income taxes for the three months ended December 31, 2020.
The Company’s effective income tax rate was 19.3% and 22.0% for the three months ended December 31, 2020 and 2019, respectively. The decrease in our effective tax rate for the three months ended December 31, 2020 compared to the prior year is primarily attributable to a higher tax benefit related to share-based compensation and foreign derived intangible income, partially offset by unfavorable impact from impairment of our wood treatment reporting unit.