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Income Taxes (Tables)
 9 Months Ended
Feb. 28, 2018
Income Tax Disclosure [Abstract]  
Summary of Reconciliation Tax Rates

The following table provides a reconciliation of the 2017 effective tax rates to the 2018 effective tax rates, including the impact of the TCJA, for the periods ended February 28:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

2018

 

 

2018

 

2017 Effective Tax Rate

 

 

37.5

%

 

 

36.6

%

Remeasurement of net U.S. deferred tax liability

 

 

(131.5

)

 

 

(38.4

)

Effect of February 2018 pension contribution (a)

 

 

(23.3

)

 

 

(6.8

)

Lower statutory tax rate

 

 

(18.9

)

 

 

(5.5

)

Transition tax

 

 

(4.1

)

 

 

(1.2

)

Other (b)

 

 

3.0

 

 

 

0.3

 

2018 Effective Tax Rate

 

 

(137.3

)%

 

 

(15.0

)%

 

(a)

The benefit is from the pension contribution deducted on our 2017 tax return at a tax rate of 35%.

 

(b)

The 2018 tax rates were negatively impacted by the effect of the NotPetya cyberattack, changes in uncertain tax positions and tax rate impacts on changes in deferred tax items after the TCJA enactment and were favorably impacted from foreign tax credits associated with a second quarter dividend from foreign operations.