Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

Income Taxes
3 Months Ended
Aug. 31, 2021
Income Taxes [Abstract]  
Income Taxes Note I: Income Taxes

The Company’s effective income tax rate was 24.9% and 23.4% for the three months ended August 31, 2021 and August 31, 2020, respectively. This increase was the result of an increase in state taxes. Both periods were impacted by the recognition of net discrete tax benefits related to employee stock-based compensation payments.