Income Taxes (Tables)

12 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense/(benefit) for the years ended September 30, 2021, 2020, and 2019 was allocated as follows:

	Year Ended September 30,
(in millions)	2021		2020		2019
Income tax expense attributable to income from operations	$	37.8	$	37.1	$	25.9
Taxes allocated to stockholders’ equity, related to pension liabilities	0.5		—		(0.2)
Total income tax expense	$	38.3	$	37.1	$	25.7

The components of income tax expense/(benefit) attributable to income from operations were as follows:

	Year Ended September 30,
(in millions)	2021		2020		2019
Current taxes:
U.S. federal	$	6.7	$	(0.6)	$	(1.9)
U.S. state and local	(0.1)		2.3		(0.8)
Australia	1.8		0.5		—
Brazil	8.0		6.5		5.5
Germany	6.0		3.4		0.1
Singapore	1.9		2.8		—
United Kingdom	6.6		13.9		17.2
Other international	3.7		4.2		2.1
Total current taxes	34.6		33.0		22.2
Deferred taxes:
U.S. federal	1.4		4.9		1.6
U.S. state and local	2.7		0.6		0.4
Australia	0.3		(0.1)		0.1
Brazil	(1.3)		(1.3)		—
Singapore	0.4		0.8		2.5
United Kingdom	0.1		(0.3)		(0.5)
Other international	(0.4)		(0.5)		(0.4)
Total deferred taxes	3.2		4.1		3.7
Income tax expense	$	37.8	$	37.1	$	25.9

Schedule of Income before Income Tax, Domestic and Foreign

U.S. and international components of income/(loss) from operations, before tax, was as follows:

	Year Ended September 30,
(in millions)	2021		2020		2019
U.S.	$	37.3	$	88.8	$	(2.6)
Australia	7.8		1.4		0.4
Brazil	13.7		7.6		12.6
Germany	17.2		10.4		(0.3)
Singapore	16.0		20.5		22.6
United Kingdom	41.4		58.5		71.5
Other international	20.7		19.5		6.8
Income from operations, before tax	$	154.1	$	206.7	$	111.0

Schedule of Effective Income Tax Rate Reconciliation

Items accounting for the difference between income taxes computed at the federal statutory rate and income tax expense were as follows:

	Year Ended September 30,
	2021		2020		2019
Federal statutory rate effect of:	21.0	%	21.0	%	21.0	%
U.S. State and local income taxes	1.8	%	1.2	%	(0.9)	%
Foreign earnings and losses taxed at different rates	1.0	%	0.9	%	0.2	%
Change in valuation allowance	1.9	%	1.0	%	0.9	%
Income tax rate holiday	(0.5)	%	(0.8)	%	0.5	%
U.S. permanent items	(1.2)	%	0.6	%	(0.5)	%
Non-deductible compensation	1.9	%	0.6	%	0.7	%
Foreign permanent items	(0.2)	%	1.1	%	0.2	%
U.S. bargain purchase gain	(0.5)	%	(8.3)	%	(1.0)	%
GILTI	0.6	%	0.7	%	2.2	%
Income tax rate change	(1.2)	%	—	%	—	%
Effective rate	24.6	%	18.0	%	23.3	%

Schedule of Deferred Tax Assets and Liabilities

The components of deferred income tax assets and liabilities were as follows:

(in millions)	September 30, 2021		September 30, 2020
Deferred tax assets:
Share-based compensation	$	1.7	$	3.1
Deferred compensation	4.7		4.1
Net operating loss carryforwards	17.7		16.2
Intangible assets	6.5		9.9
Bad debt reserve	7.3		4.4
Tax credit carryforwards	—		0.2
Foreign tax credit carryforwards	2.0		2.4
Other compensation	7.0		5.8
Property and equipment	6.3		7.3
Pension	1.2		—
Other	3.1		1.9
Total gross deferred tax assets	57.5		55.3
Less valuation allowance	(15.0)		(12.4)
Deferred tax assets	42.5		42.9
Deferred income tax liabilities:
Unrealized gain on securities	2.8		2.4
Prepaid expenses	4.2		3.4
Pension liability	—		0.2
Other deferred liabilities	0.4		—
Deferred income tax liabilities	7.4		6.0
Deferred income taxes, net	$	35.1	$	36.9