Income Taxes

9 Months Ended

Jun. 30, 2025

INCOME TAXES

Income tax provisions for interim quarterly periods are based on an estimated annual effective income tax rate calculated separately from the effect of significant, infrequent or unusual discrete items related specifically to interim periods. The following summarizes income tax expense and the effective tax rate in each interim period:


	Three months ended June 30						Nine months ended June 30

(In millions)	2025			2024			2025			2024
Income tax expense	$	20.0		$	17.0		$	65.9		$	42.9
Effective tax rate percentage	26.0		%	26.1		%	25.8		%	25.5		%

The changes in income tax expense year-over-year for the three and nine months ended June 30, 2025 were principally driven by pre-tax earnings. The increase in the effective tax rate for the nine months ended June 30, 2025 was attributable to decreases in the favorable impact of discrete tax benefits compared to the prior year period.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

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