INCOME TAXES |
9 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES During the quarter ended June 30, 2026, the Company recognized a tax provision of $25,660 on income before taxes from continuing operations of $91,971, compared to a tax benefit of $47,105 on a loss before taxes from continuing operations of $155,760 in the prior year quarter. The current year quarter results includes the impact of retirement plan events of $1,608 ($1,225, net of tax); loss from debt extinguishment of $833 ($635, net of tax); and discrete and certain other tax benefits, net, that affect comparability of $139. The prior year quarter results included goodwill and intangible asset impairments of $243,612 ($217,154, net of tax); strategic review costs - retention and other of $790 ($595, net of tax); and discrete and certain other tax benefits, net, that affect comparability of $44,610. Excluding these items, the effective tax rates for the quarters ended June 30, 2026 and 2025 were 27.9% and 27.3%, respectively. During the nine months ended June 30, 2026, the Company recognized a tax provision of $63,849 on income before taxes from continuing operations of $232,669, compared to a tax benefit of $8,589 on a loss before taxes from continuing operations of $8,303 in the comparable prior year period. The nine month period ended June 30, 2026 included the impact of retirement plan events of $4,826 ($3,676, net of tax); loss from debt extinguishment of $1,389, ($1,058, net of tax); and discrete and other tax provisions, net, that affect comparability of $76. The nine month period ended June 30, 2025 included goodwill and intangible asset impairments of $243,612 ($217,154, net of tax); strategic review costs - retention and other of $2,568 ($1,934, net of tax); and discrete and other tax benefits, net, that affect comparability of $45,744. Excluding these items, the effective tax rate for the nine months ended June 30, 2026 and 2025 were 27.3% and 27.0%, respectively. Subsequent to the actions discussed in Note 1, the Company has recorded a deferred tax asset of $5,879 relating to the outside book to tax basis difference in foreign discontinued operations, and a deferred tax asset of $5,515 relating to capital loss carryovers. The Company believes it is more likely than not that a portion of the benefit from these attributes will not be realized and has recorded a valuation allowance of $6,165. Under ASC 740-30, the Company is no longer permanently reinvested in the discontinued operations of Ames Australia and U.K.
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