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Income Taxes
6 Months Ended
Feb. 28, 2015
Income Taxes [Abstract]  
Income Taxes

Note 5Income Taxes

It is the Company’s policy to report income tax expense for interim periods using an estimated annual effective income tax rate. However, the tax effects of significant or unusual items are not considered in the estimated annual effective income tax rate. The tax effects of such discrete events are recognized in the interim period in which the events occur. The Company recorded no material discrete items for the three and six months ended February 28, 2015 and 2014.

 

The Company recorded income tax expense of $5.1 million and $7.3 million for the three months ended February 28, 2015 and 2014, respectively.  The Company recorded income tax expense of $9.2 million and $12.9 million for the six months ended February 28, 2015 and 2014, respectively.  The estimated annual effective income tax rate was 35.8 percent and 35.3 percent for the year-to-date periods ended February 28, 2015 and 2014, respectively. The increase in the estimated annual effective income tax rate from February 2014 to February 2015 primarily relates to incremental increases in taxes due to the earnings mix among jurisdictions.