Income Taxes (Tables)

12 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense (benefit)

The Company's expense (benefit) from income taxes from continuing operations consists of the following for the periods presented:

	Fiscal Year Ended September 30,
in thousands	2022		2021		2020
Current federal(a)	$	—	$	—	$	(4,641)
Current state	4,859		1,126		485
Deferred federal	47,239		20,331		20,639
Deferred state	1,173		89		1,490
Total expense	$	53,271	$	21,546	$	17,973

(a) Fiscal 2020 federal current benefit is primarily driven by the expected refund of our remaining alternative minimum tax credit balance due to the enactment of the CARES Act. Refer to Note 2 for further discussion.

Schedule of effective income tax rate reconciliation

The Company's expense (benefit) from income taxes from continuing operations differs from the amount computed by applying the federal income tax statutory rate as follows for the periods presented:

	Fiscal Year Ended September 30,
in thousands	2022		2021		2020
Income tax computed at statutory rate	$	57,538	$	30,182	$	14,971
State income taxes, net of federal benefit	4,482		1,564		1,300
Deferred rate change	346		(904)		260
Changes in uncertain tax positions	—		—		(2)
Permanent differences	2,952		2,433		2,177
Tax credits	(12,081)		(12,088)		(939)
Other, net	34		359		206
Total expense	$	53,271	$	21,546	$	17,973

Schedule of deferred tax assets and liabilities

The tax effects of significant temporary differences that give rise to the net deferred tax assets are as follows as of September 30, 2022 and 2021:

in thousands	September 30, 2022		September 30, 2021
Deferred tax assets:
Federal and state net operating loss carryforwards	$	149,299	$	177,611
Incentive compensation	12,914		13,793
Warranty and other reserves	7,091		6,006
Inventory adjustments	6,716		25,174
Intangible assets	1,515		6,016
Property, equipment and other assets	771		2,085
Uncertain tax positions	705		705
Other	2,743		2,435
Total deferred tax assets	181,754		233,825
Valuation allowance	(25,396)		(29,059)
Deferred tax assets, net	$	156,358	$	204,766

Schedule of unrecognized tax benefits roll forward

A reconciliation of our unrecognized tax benefits is as follows for the beginning and end of each period presented:

	Fiscal Year Ended September 30,
in thousands	2022		2021		2020
Balance at beginning of year	$	3,358	$	3,441	$	3,473
Additions for tax positions related to current year	—		—		—
Additions for tax positions related to prior years	—		—		—
Reductions in tax positions of prior years	—		—		—
Lapse of statute of limitations	—		(83)		(32)
Balance at end of year	$	3,358	$	3,358	$	3,441