Income Taxes |
6 Months Ended |
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Nov. 30, 2022 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes |
Note I: Income Taxes
The Company’s effective income tax rate was 24.2% and 24.1% for the three months ended November 30, 2022 and 2021, respectively, and 23.5% and 24.5% for the six months ended November 30, 2022 and 2021, respectively. All periods were impacted by the recognition of excess tax benefits related to employee stock-based compensation payments. The effective income tax rate for the six months ended November 30, 2021 was also impacted by an increase in state taxes. |
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- References No definition available.
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- 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
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