Annual report pursuant to Section 13 and 15(d)

Income Taxes (Details)

v3.3.0.814
Income Taxes (Details) - USD ($)
$ in Millions
12 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2013
Components of earnings before income taxes and the consolidated income tax provision:      
Domestic $ 110.0 $ 104.7 $ 108.0
Foreign 52.3 55.2 (14.3)
Income before income taxes 162.3 159.9 93.7
Current provision:      
Federal 35.0 39.0 37.0
State 4.4 6.2 5.5
Foreign 10.2 11.7 9.4
Total current provision 49.6 56.9 51.9
Deferred provision (benefit):      
Federal (0.5) (6.1) (2.9)
State 1.6 1.3 (0.5)
Foreign (1.6) (3.4) (20.2)
Total deferred provision (benefit) (0.5) (8.2) (23.6)
Income tax expense $ 49.1 $ 48.7 $ 28.3
Reconciliation of the effective income tax rate with the U.S. federal statutory income tax rate      
Federal statutory rates (as a percent) 35.00% 35.00% 35.00%
Adjustments resulting from the tax effect of:      
State income taxes, net of federal benefit 2.30% 3.20% 3.50%
Foreign income tax rate differential (as a percent) (6.20%) (7.20%) (7.00%)
Domestic manufacturer's deduction (as a percent) (2.20%) (2.30%) (4.00%)
Non-deductible acquisition costs (as a percent) 0.00% 0.00% 1.40%
Valuation allowance (as a percent) 0.30% 0.30% 0.80%
Other, net (as a percent) 1.00% 1.50% 0.50%
Effective income tax rate (as a percent) 30.20% 30.50% 30.20%
Deferred tax assets:      
Employee benefit accruals $ 81.2 $ 71.8  
Loss and tax credit carryforwards 37.4 39.3  
Rebates and other discounts 5.6 4.8  
Self-insurance reserves 4.8 6.3  
Casket pricing obligation 1.9 2.3  
Allowance for doubtful accounts 1.1 1.6  
Inventory, net 2.2 2.1  
Other, net 13.0 18.7  
Total deferred tax assets before valuation allowance 147.2 146.9  
Less valuation allowance (2.8) (2.5)  
Total deferred tax assets, net 144.4 144.4  
Deferred tax liabilities:      
Depreciation (9.7) (17.1)  
Amortization (136.3) (146.2)  
Long-term contracts and customer prepayments (25.7) (23.3)  
Unremitted earnings of foreign operations (0.2) (0.2)  
Other, net (5.2) (2.9)  
Total deferred tax liabilities (177.1) (189.7)  
Deferred tax liabilities, net (32.7) (45.3)  
Amounts recorded in the balance sheets:      
Deferred taxes, current (3.5) 9.8  
Deferred taxes, long-term (29.2) (55.1)  
Deferred tax liabilities, net (32.7) (45.3)  
Deferred income tax assets related to U.S. federal and state tax credit carryforwards 7.7    
Deferred income tax assets related to foreign net operating loss carryforwards 29.7    
Current income tax payable 14.6 2.1  
Total permanently reinvested earnings $ 129.4 $ 84.0