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Income Taxes
9 Months Ended
May. 31, 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 nine months ended May 31, 2015 and 2014.

 

The Company recorded income tax expense of $7.5 million and $9.0 million for the three months ended May 31, 2015 and 2014, respectively.  The Company recorded income tax expense of $16.7 million and $21.9 million for the nine months ended May 31, 2015 and 2014, respectively.  The estimated annual effective income tax rate was 36.2 percent and 35.3 percent for the year-to-date periods ended May 31, 2015 and 2014, respectively. The increase in the estimated annual effective income tax rate from May 2014 to May 2015 primarily relates to incremental increases in taxes due to the earnings mix among jurisdictions.