Income Taxes |
3 Months Ended |
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Aug. 31, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes |
Note J: Income Taxes
The Company’s effective income tax rate was 22.9% for the three months ended August 31, 2025, compared to 23.3% for the three months ended August 31, 2024. Both periods were impacted by the recognition of excess tax benefits related to employee stock-based compensation payments.
On July 4, 2025, the One Big Beautiful Bill Act (the “Act”) was enacted into law. The most significant provisions applicable to the Company relate to accelerated tax deductions for qualified property and research expenditures. As a result, the Company’s deferred tax liabilities will be impacted in fiscal 2026 by the deductibility of previously capitalized research expenditures and accelerated tax depreciation. The Act is not expected to have a significant impact on the Company’s effective tax rate. |
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- References No definition available.
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- Definition The entire disclosure for income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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