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Income Taxes (Tables) | 12 Months Ended
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May 31, 2021
Income Taxes [Abstract] |
Components of Deferred Tax Assets and Liabilities |
|  | May 31,
In millions |  | 2021 |  | 2020
Deferred tax assets: |  |  |  |  |  |
Compensation and employee benefit liabilities |  | $ | 53.0 |  | $ | 37.6
Other current liabilities |  |  | 19.8 |  |  | 8.0
Tax credit carry forward |  |  | 0.2 |  |  | 0.2
Stock-based compensation |  |  | 12.0 |  |  | 16.8
Leases |  |  | 29.0 |  |  | 34.2
Net operating loss ("NOL") carry forwards |  |  | 7.6 |  |  | 9.7
Tax benefit of uncertain tax positions |  |  | 5.3 |  |  | 7.0
Other |  |  | — |  |  | 0.5
Gross deferred tax assets |  |  | 126.9 |  |  | 114.0
Deferred tax liabilities: |  |  |  |  |  |
Deferred contract costs |  |  | 127.5 |  |  | 122.8
Capitalized software |  |  | 49.0 |  |  | 45.7
Depreciation |  |  | 8.9 |  |  | 11.4
Goodwill and intangible assets |  |  | 111.3 |  |  | 117.4
Operating lease right-of-use assets |  |  | 26.1 |  |  | 29.3
Revenue not subject to current taxes |  |  | 1.9 |  |  | 3.7
Unrealized gains on available-for-sale securities |  |  | 20.2 |  |  | 24.5
Gross deferred tax liabilities |  |  | 344.9 |  |  | 354.8
Net deferred tax liability |  | $ | (218.0) |  | $ | (240.8)
Components of Provision for Income Taxes |
|  | Year ended May 31,
In millions |  | 2021 |  | 2020 |  | 2019
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 271.8 |  | $ | 265.5 |  | $ | 258.2
State |  |  | 85.9 |  |  | 77.5 |  |  | 70.7
Total current |  |  | 357.7 |  |  | 343.0 |  |  | 328.9
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | (13.4) |  |  | (0.5) |  |  | 0.7
State |  |  | (7.6) |  |  | (3.5) |  |  | 4.0
Total deferred |  |  | (21.0) |  |  | (4.0) |  |  | 4.7
Income taxes |  | $ | 336.7 |  | $ | 339.0 |  | $ | 333.6
Reconciliation of U.S. Federal Statutory Tax Rate |
|  | Year ended May 31,
|  | 2021 |  | 2020 |  | 2019
Federal statutory tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Increase/(decrease) resulting from: |  |  |  |  |  |  |  |  |
State income taxes, net of federal tax benefit |  | 4.3 | % |  | 3.9 | % |  | 4.3 | %
Tax-exempt municipal bond interest |  | (0.3) | % |  | (0.4) | % |  | (0.5) | %
Stock option windfall benefit |  | (1.3) | % |  | (0.8) | % |  | (0.5) | %
Other items, including adoption of ASC 606 |  | (0.2) | % |  | (0.1) | % |  | 0.1 | %
Effective income tax rate |  | 23.5 | % |  | 23.6 | % |  | 24.4 | %
Reconciliation of Gross Unrecognized Tax Benefits, Not Including Interest or Other Potential Offsetting Effects |
|  | Year ended May 31,
In millions |  | 2021 |  | 2020 |  | 2019
Balance as of beginning of fiscal year |  | $ | 26.2 |  | $ | 22.1 |  | $ | 14.9
Additions for tax positions of the current year |  |  | 5.5 |  |  | 4.1 |  |  | 3.8
Additions for tax positions of prior years |  |  | 9.2 |  |  | 1.2 |  |  | 5.2
Reductions for tax positions of prior years |  |  | — |  |  | (0.6) |  |  | —
Settlements with tax authorities |  |  | (15.2) |  |  | — |  |  | (1.2)
Expiration of the statute of limitations |  |  | (3.3) |  |  | (0.6) |  |  | (0.6)
Balance as of end of fiscal year |  | $ | 22.4 |  | $ | 26.2 |  | $ | 22.1

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