Income Taxes |
9 Months Ended |
|---|---|
May 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 4 – Income Taxes
The Company recorded income tax expense of $4.8 million and $6.2 million for the three months ended May 31, 2026 and 2025, respectively, and recorded income tax expense of $13.6 million and $17.7 million for the nine months ended May 31, 2026 and 2025, respectively.
It is the Company’s policy to report income tax expense for interim periods using an estimated annual effective income tax rate. The estimated annual effective income tax rate was 22.3 percent for each of the nine months ended May 31, 2026 and 2025. 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 impact of discrete items was negligible during the three months ended May 31, 2026 and 2025. The impact of discrete items amounted to expense of $0.7 million and benefit of $0.3 million during the nine months ended May 31, 2026 and 2025, respectively. |