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COMMITMENTS AND CONTINGENCIES | 9 Months Ended
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May 31, 2025
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Income Taxes We follow guidance issued by the FASB regarding our accounting for uncertainty in income taxes recognized in the financial statements. Such guidance prescribes a recognition threshold of more-likely-than-not and a measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In making this assessment, a company must determine whether it is more likely than not that a tax position will be sustained upon examination, based solely on the technical merits of the position, and must assume that the tax position will be examined by taxing authorities. Our policy is to include interest and penalties related to income tax expense. We file income tax returns with the IRS and various state jurisdictions as well as with the countries of India and France. Our federal income tax returns for fiscal years 2021 through 2024 are open for audit, and our state tax returns for fiscal years 2020 through 2024 remain open for audit. Our review of prior-year tax positions using the criteria and provisions presented in guidance issued by FASB did not result in a material impact on our financial position or results of operations. We recorded an income tax benefit of $6.7 million related to loss before taxes of $74.0 million for the three months ended May 31, 2025, and an income tax benefit of $6.2 million related to loss before taxes of $70.3 million for the nine months ended May 31, 2025. We recorded an income tax expense of $0.8 million related to income before taxes of $3.9 million for the three months ended May 31, 2024, and an income tax expense of $2.4 million related to income before taxes of $11.5 million for the nine months ended May 31, 2024. The effective income tax rate for the three and nine months ended May 31, 2025, was 9.1% and 8.9%, respectively. The effective income tax rate for the three and nine months ended May 31, 2024, were 19.4% and 21.1%, respectively. Litigation We are not a party to any legal proceedings and are not aware of any pending or threatened legal proceedings of any kind.

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