Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
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May 31, 2020 |
May 31, 2019 |
May 31, 2018 |
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Reconciliation of income tax expense for continuing operations using the statutory rate and actual income tax expense is as follows: | |||
Income taxes at the U.S. federal statutory rate | $ 222,258 | $ 231,503 | $ 245,322 |
Permanent differences | (67,075) | (51,201) | (47,137) |
State and local income taxes, net of federal benefit | 25,294 | 31,687 | 24,783 |
Other | 1,454 | 6,506 | (4,451) |
Impact of the Tax Cuts and Jobs Act: | |||
Deemed repatriation of non-U.S. earnings, net of foreign tax credits and other (collectively, transition tax) | 0 | 153 | 9,768 |
Non-U.S. withholding taxes related to certain non-U.S. earnings subject to repatriation | 0 | 690 | 4,363 |
Remeasurement of U.S. net deferred tax liabilities from 35% to 21% | 0 | 426 | (175,579) |
Income taxes | $ 181,931 | $ 219,764 | $ 57,069 |
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- Definition Effective Income Tax Rate Reconciliation, Adjustments for Permanent Differences, Amount No definition available.
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- Definition Effective Income Tax Rate Reconciliation, Tax Cuts and Jobs Act, Income Tax Withholding on Accumulated Foreign Earnings, Amount No definition available.
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- References No definition available.
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- Definition Amount of reported income tax expense (benefit) in excess of (less than) expected income tax expense (benefit) computed by applying domestic federal statutory income tax rate to pretax income (loss) from continuing operations, attributable to Tax Cuts and Jobs Act. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of reported income tax expense (benefit) in excess of (less than) expected income tax expense (benefit) computed by applying domestic federal statutory income tax rate to pretax income (loss) from continuing operations, attributable to increase (decrease) from transition tax on accumulated earnings of controlled foreign corporation deemed repatriated pursuant to Tax Cuts and Jobs Act. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to tax exempt income, equity in earnings (loss) of an unconsolidated subsidiary, minority noncontrolling interest income (loss), tax holiday, disposition of a business, disposition of an asset, repatriation of foreign earnings, repatriation of foreign earnings jobs creation act of 2004, increase (decrease) in enacted tax rate, prior year income taxes, increase (decrease) in deferred tax asset valuation allowance, and other adjustments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to state and local income tax expense (benefit). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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