XML 32 R21.htm IDEA: XBRL DOCUMENT v3.23.1
Income Taxes
 6 Months Ended
Feb. 28, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Effective Income Tax Rate
The U.S. federal statutory income tax rate and the Company's effective income tax rate are as follows:
Three months ended Six months ended
February 28, 2023 February 28, 2022 February 28, 2023 February 28, 2022
U.S. federal statutory income tax rate 21.0  % 21.0  % 21.0  % 21.0  %
Effective income tax rate 27.6  % 21.7  % 26.6  % 22.8  %
The effective income tax rate differed for the three months and six months ended February 28, 2023, compared to the three months and six months ended February 28, 2022, primarily due to: (i) a change in the jurisdictional mix of earnings, driven in part by restructuring charges for the six months ended February 28, 2023 and (ii) a $10 million income tax benefit associated with the reversal of a non-U.S. partial valuation allowance during the three months ended February 28, 2023.
The effective income tax rate differed from the U.S. federal statutory income tax rate of 21.0% during the three months and six months ended February 28, 2023 and 2022, primarily due to: (i) the jurisdictional mix of earnings, (ii) losses in tax jurisdictions with existing valuation allowances, and (iii) tax incentives granted to sites in China, Malaysia, Singapore and Vietnam.