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Income Taxes (Tables)

9 Months Ended

Aug. 31, 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												Nine Months Ended
			August 31,												August 31,
(Dollars in thousands)			2025						2024						2025						2024
Provision for income taxes			$190,892						347,859						520,478						859,195
Effective tax rate (1)			24.4%						23.0%						24.7		%				23.2		%

(1)For the three and nine months ended August 31, 2025 and 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 for the three months ended August 31, 2025 from the prior year was primarily due to a decrease in tax credits. The increase in the effective tax rate for the nine months ended August 31, 2025 from the prior year was primarily due to a decrease in excess tax benefits from shared-based compensation and a decrease in tax credits.

On July 4, 2025, the One Big Beautiful Bill Act (the "Act") was enacted, introducing various changes to U.S. federal tax law. The Company does not expect the Act to have a material impact on its consolidated financial statements for the fiscal year ending November 30, 2025, and is currently evaluating the potential impact of the Act on future periods.

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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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