Income Taxes (Tables)

12 Months Ended

May 31, 2023

Income Taxes

Schedule of components of provision for income tax on income from continuing operations

	For the Year Ended
	May 31,
	2023		2022		2021
Current:
Federal	$	25.9	$	11.0	$	5.2
State		2.9		2.6		1.2
Foreign		4.8		4.3		3.4
		33.6		17.9		9.8
Deferred		(2.2)		8.7		8.4
	$	31.4	$	26.6	$	18.2

Schedule of reconciliation effective income tax rate

	For the Year Ended
	May 31,
	2023		2022		2021
Provision for income tax at the federal statutory rate	21.0	%	21.0	%	21.0	%
Tax expense (benefit) from stock-based compensation	(2.0)		(2.0)		1.1
Non-deductible compensation	2.8		1.1		1.2
State income taxes, net of federal benefit	2.6		4.9		3.8
Other	1.5		0.3		1.1
Effective income tax rate	25.9	%	25.3	%	28.2	%

Schedule of income before provision for income taxes

	For the Year Ended
	May 31,
	2023		2022		2021
Domestic	$	87.7	$	77.1	$	43.7
Foreign		33.5		28.0		20.8
	$	121.2	$	105.1	$	64.5

Schedule of components of deferred tax assets and liabilities

	May 31,
	2023		2022
Deferred tax assets:
Operating lease liabilities	$	17.8	$	21.0
Employee and retirement benefits		8.0		7.6
State net operating losses		6.9		8.0
Other		4.4		1.9
Total deferred tax assets		37.1		38.5
Deferred tax liabilities:
Intangible assets		(27.3)		(10.3)
Tangible assets		(19.5)		(21.7)
ROU operating lease assets		(18.6)		(22.1)
Other		(5.3)		(4.4)
Total deferred tax liabilities		(70.7)		(58.5)
Net deferred tax liabilities	$	(33.6)	$	(20.0)