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Income Taxes (Tables)

3 Months Ended

Feb. 28, 2025

Income Tax Disclosure [Abstract]

Schedule of Income Tax Benefit (Provision) and Effective Tax Rate

The provision for income taxes and effective tax rate were as follows:

			Three Months Ended
(Dollars in thousands)			February 28, 2025						February 29, 2024
Provision for income taxes			$169,525						210,865
Effective tax rate (1)			24.6%						22.7%

(1)For the three months ended February 28, 2025 and February 29, 2024, the effective tax rate included state income tax expense and non-deductible executive compensation, partially offset by tax credits. The increase in the effective tax rate from the prior year quarter was primarily due to a decrease in excess tax benefits from shared-based compensation and a decrease in solar tax credits.

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- References

No definition available.

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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