Income Taxes (Tables)

12 Months Ended

Sep. 30, 2025

The provisions for income taxes consisted of the following:


	For the Years Ended September 30,
	2025		2024		2023
Current:
United States - Federal	$	4.9	$	10.7	$	14.4
State	3.0		1.8		5.3
Foreign	53.8		46.5		54.0
Total current	$	61.7	$	59.0	$	73.7
Deferred:
United States - Federal	(12.3)		(43.9)		(34.8)
State	0.4		(5.2)		(4.5)
Foreign	(4.7)		5.8		0.8
Total deferred	$	(16.6)	$	(43.3)	$	(38.5)
Provision for income taxes	$	45.1	$	15.7	$	35.2

The source of pre-tax earnings was:


	For the Years Ended September 30,
	2025		2024		2023
United States	$	91.5	$	(177.7)	$	(105.3)
Foreign	192.6		231.5		281.0
Pre-tax earnings	$	284.1	$	53.8	$	175.7

A reconciliation of income tax provision with the amounts computed at the statutory federal income tax rate follows:


	For the Years Ended September 30,
	2025				2024				2023
Computed tax at federal statutory rate	$	59.7	21.0	%	$	11.3	21.0	%	$	36.9	21.0	%
State income taxes, net of federal tax benefit	2.7		1.0		(2.2)		(4.1)		(0.6)		(0.3)
Foreign rate differential	8.0		2.8		2.3		4.3		(4.2)		(2.4)
Adjustments to prior years' tax accruals	(2.4)		(0.8)		(1.1)		(2.0)		3.1		1.8
Other taxes including repatriation of foreign earnings and GILTI	2.0		0.7		4.7		8.7		2.5		1.4
Tax credits and incentives	(25.4)		(8.9)		—		—		(2.1)		(1.2)
Uncertain tax positions	(3.5)		(1.2)		(2.3)		(4.3)		(3.2)		(1.8)



Other, net	4.0		1.3		3.0		5.6		2.8		1.5
Total	$	45.1	15.9	%	$	15.7	29.2	%	$	35.2	20.0	%

The deferred tax assets and deferred tax liabilities at the end of each year are as follows:


	September 30,
	2025		2024
Deferred tax assets:
Accrued liabilities	$	46.4	$	46.0
Deferred and stock-related compensation	10.3		10.2
Tax loss carryforwards and tax credits	22.6		23.7
Intangible assets	2.1		1.7
Pension plans	7.4		7.6
Inventory differences and other tax assets	30.5		25.9
Operating leases	23.4		24.0
Interest expense limited under Sec 163j	160.9		138.7
Gross deferred tax assets	303.6		277.8
Deferred tax liabilities:
Depreciation and property differences	(25.6)		(24.6)
Intangible assets	(75.5)		(68.4)
Operating leases	(22.3)		(23.3)
Other tax liabilities	(11.3)		(14.6)
Gross deferred tax liabilities	(134.7)		(130.9)
Valuation allowance	(8.4)		(9.4)

Net deferred tax assets	$	160.5	$	137.5

The unrecognized tax benefits activity is summarized below:



	For the Years Ended September 30,
	2025		2024		2023
Unrecognized tax benefits, beginning of year	$	5.2	$	7.1	$	9.2
Additions based on current year tax positions and acquisitions	0.1		0.1		—


Settlements with taxing authorities/statute expirations	(2.8)		(2.0)		(2.1)

Unrecognized tax benefits, end of year	$	2.5	$	5.2	$	7.1

ENERGIZER HOLDINGS, INC. 10-K