Income Taxes (Tables)

12 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provisions/(benefit) for income taxes consisted of the following:

	For the Years Ended September 30,
	2023		2022		2021
Current:
United States - Federal	$	14.4	$	(1.9)	$	4.7
State	5.3		3.5		1.6
Foreign	54.0		59.7		49.9
Total current	$	73.7	$	61.3	$	56.2
Deferred:
United States - Federal	(34.8)		(113.1)		(57.8)
State	(4.5)		(14.2)		(3.8)
Foreign	0.8		(8.0)		(1.3)
Total deferred	$	(38.5)	$	(135.3)	$	(62.9)
Provision/(benefit) for income taxes	$	35.2	$	(74.0)	$	(6.7)

Schedule of Income before Income Tax, Domestic and Foreign

The source of pre-tax earnings/(loss) was:

	For the Years Ended September 30,
	2023		2022		2021
United States	$	(105.3)	$	(554.5)	$	(90.1)
Foreign	281.0		249.0		244.3
Pre-tax (loss)/earnings	$	175.7	$	(305.5)	$	154.2

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax provision/(benefit) with the amounts computed at the statutory federal income tax rate follows:

	For the Years Ended September 30,
	2023				2022				2021
Computed tax at federal statutory rate	$	36.9	21.0	%	$	(64.2)	21.0	%	$	32.4	21.0	%
State income taxes, net of federal tax benefit	(0.6)		(0.3)		(9.7)		3.2		0.2		0.1
Foreign rate differential	(4.2)		(2.4)		4.4		(1.4)		0.8		0.5
Adjustments to prior years' tax accruals	3.1		1.8		1.0		(0.3)		0.6		0.4
Other taxes including repatriation of foreign earnings and GILTI	2.5		1.4		2.4		(0.8)		5.5		3.6
Foreign tax incentives	(2.1)		(1.2)		(2.8)		0.9		(3.7)		(2.4)
Uncertain tax positions	(3.2)		(1.8)		(10.1)		3.3		0.2		0.1
Debt refinancing	—		—		—		—		(3.4)		(2.2)
Tax structuring	—		—		—		—		(39.5)		(25.6)
Other, net	2.8		1.5		5.0		(1.7)		0.2		0.2
Total	$	35.2	20.0	%	$	(74.0)	24.2	%	$	(6.7)	(4.3)	%

Schedule of Deferred Tax Assets and Liabilities

The deferred tax assets and deferred tax liabilities at the end of each year are as follows:

	September 30,
	2023		2022
Deferred tax assets:
Accrued liabilities	$	38.6	$	30.1
Deferred and stock-related compensation	11.2		10.8
Tax loss carryforwards and tax credits	18.8		22.2
Intangible assets	2.7		2.6
Pension plans	7.5		6.2
Inventory differences and other tax assets	20.8		14.7
Operating lease assets	24.3		24.0
Interest expense limited under Sec 163j	117.0		110.6
Gross deferred tax assets	240.9		221.2
Deferred tax liabilities:
Depreciation and property differences	(22.2)		(25.2)
Intangible assets	(85.8)		(87.8)
Operating lease liabilities	(24.1)		(23.8)
Other tax liabilities	(26.8)		(28.9)
Gross deferred tax liabilities	(158.9)		(165.7)
Valuation allowance	(6.0)		(11.6)
Net deferred tax assets/(liabilities)	$	76.0	$	43.9

Summary of Income Tax Contingencies

The unrecognized tax benefits activity is summarized below:

	For the Years Ended September 30,
	2023		2022		2021
Unrecognized tax benefits, beginning of year	$	9.2	$	13.5	$	14.2
Additions based on current year tax positions and acquisitions	—		—		0.1
Additions based on prior year tax positions and acquisitions	—		—		2.6
Settlements with taxing authorities/statute expirations	(2.1)		(4.3)		(3.4)
Unrecognized tax benefits, end of year	$	7.1	$	9.2	$	13.5