Income Taxes |
3 Months Ended |
|---|---|
Sep. 30, 2023 | |
| Notes to Financial Statements | |
| Income Taxes |
Note 12. Income Taxes: The Company’s effective income tax rate for the first quarter of fiscal 2024 and 2023 was (2.9)% and 13.5%, respectively, of consolidated earnings before income taxes, inclusive of discrete items. The change in the Company’s tax rate for the quarter ended September 30, 2023 compared to September 30, 2022 was driven by a mix of net income and timing of discrete items. The Company recognized total net benefits related to discrete tax items of $13.6 million during the quarter ended September 30, 2023, compared to $7.8 million during the quarter ended September 30, 2022. Share-based compensation excess tax benefit contributed $10.4 million in the quarter ended September 30, 2023, compared to $8.3 million in the quarter ended September 30, 2022. The Company recognized total other immaterial net discrete tax benefit of $3.2 million in the quarter ended September 30, 2023, compared to $0.5 million of other immaterial net discrete tax expense in the quarter ended September 30, 2022. |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|