Income Taxes (Tables)

12 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense/(benefit) for the years ended September 30, 2022, 2021, and 2020 was allocated as follows:

	Year Ended September 30,
(in millions)	2022		2021		2020
Income tax expense attributable to income from operations	$	70.1	$	37.8	$	37.1
Taxes allocated to stockholders’ equity, related to pension liabilities	(0.1)		0.5		—
Taxes allocated to stockholders’ equity, related to hedge accounting	(17.0)		—		—
Total income tax expense	$	53.0	$	38.3	$	37.1

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

	Year Ended September 30,
(in millions)	2022		2021		2020
Current taxes:
U.S. federal	$	8.2	$	6.7	$	(0.6)
U.S. state and local	3.6		(0.1)		2.3
Australia	2.8		1.8		0.5
Brazil	12.6		8.0		6.5
Germany	8.9		6.0		3.4
Singapore	2.0		1.9		2.8
United Kingdom	29.2		6.6		13.9
Other international	3.1		3.7		4.2
Total current taxes	70.4		34.6		33.0
Deferred taxes:
U.S. federal	3.4		1.4		4.9
U.S. state and local	(0.1)		2.7		0.6
Australia	(0.2)		0.3		(0.1)
Brazil	(0.8)		(1.3)		(1.3)
Singapore	—		0.4		0.8
United Kingdom	(2.7)		0.1		(0.3)
Other international	0.1		(0.4)		(0.5)
Total deferred taxes	(0.3)		3.2		4.1
Income tax expense	$	70.1	$	37.8	$	37.1

Schedule of Income before Income Tax, Domestic and Foreign

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

	Year Ended September 30,
(in millions)	2022		2021		2020
U.S.	$	50.0	$	37.3	$	88.8
Australia	8.7		7.8		1.4
Brazil	25.3		13.7		7.6
Germany	27.8		17.2		10.4
Singapore	19.4		16.0		20.5
United Kingdom	104.8		41.4		58.5
Other international	41.2		20.7		19.5
Income from operations, before tax	$	277.2	$	154.1	$	206.7

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,
	2022		2021		2020
Federal statutory rate effect of:	21.0	%	21.0	%	21.0	%
U.S. State and local income taxes	1.0	%	1.8	%	1.2	%
Foreign earnings and losses taxed at different rates	1.1	%	1.0	%	0.9	%
Change in valuation allowance	0.9	%	1.9	%	1.0	%
U.K. bank tax	2.6	%	0.4	%	—	%
U.S. permanent items	0.2	%	(1.2)	%	0.6	%
Non-deductible compensation	0.7	%	1.9	%	0.6	%
Foreign permanent items	(2.8)	%	(2.3)	%	0.3	%
U.S. bargain purchase gain	—	%	(0.5)	%	(8.3)	%
GILTI	0.6	%	0.6	%	0.7	%
Effective rate	25.3	%	24.6	%	18.0	%

Schedule of Deferred Tax Assets and Liabilities

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

(in millions)	September 30, 2022		September 30, 2021
Deferred tax assets:
Share-based compensation	$	4.8	$	1.7
Deferred compensation	5.1		4.7
Net operating loss carryforwards	18.7		17.7
Intangible assets	6.4		6.5
Bad debt reserve	7.8		7.3
Hedging	17.0		—
Foreign tax credit carryforwards	1.6		2.0
Other compensation	8.0		7.0
Property and equipment	—		6.3
Pension	2.1		1.2
Right of use assets	23.8		22.9
Other	2.0		1.8
Total gross deferred tax assets	97.3		79.1
Less valuation allowance	(15.8)		(15.0)
Deferred tax assets	81.5		64.1
Deferred income tax liabilities:
Unrealized gain on securities	2.5		2.8
Prepaid expenses	3.8		4.2
Property and equipment	2.0		—
Right of use liabilities	20.8		21.6
Other deferred liabilities	0.4		0.4
Deferred income tax liabilities	29.5		29.0
Deferred income taxes, net	$	52.0	$	35.1