v3.26.1
Income Taxes (Tables)
12 Months Ended
May 31, 2026
Income Taxes  
Schedule of income tax expense

For the Year Ended

May 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

Current:

Federal

$

37.6

$

20.7

$

21.0

State

 

11.3

 

3.1

 

4.0

Foreign

 

12.5

 

8.1

 

7.5

 

61.4

 

31.9

 

32.5

Deferred

 

(3.2)

 

(5.5)

(20.5)

$

58.2

$

26.4

$

12.0

Schedule of income (loss) before income tax expense

For the Year Ended

May 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

Domestic

$

184.2

$

(22.5)

$

14.6

Foreign

 

61.7

 

61.4

 

43.7

$

245.9

$

38.9

$

58.3

Schedule of reconciliation of effective income tax rate

  ​ ​ ​

Amount

  ​ ​ ​

Percent

 

Income tax expense at the U.S. federal statutory rate

$

51.6

 

21.0

%

State income taxes, net of federal benefit

 

9.6

 

3.9

Foreign tax effects

 

0.1

 

Nontaxable or nondeductible items:

 

  ​

 

  ​

Bargain purchase gain

 

(6.2)

 

(2.5)

Compensation

 

2.6

 

1.1

Other

 

1.9

 

0.8

Tax benefit from stock-based compensation

 

(1.4)

 

(0.6)

$

58.2

 

23.7

%  

For the Year Ended May 31,

 

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Income tax expense at the U.S. federal statutory rate

21.0

%  

21.0

%

FCPA settlement

 

26.7

 

State income taxes, net of federal benefit

 

10.1

 

5.0

Non-deductible compensation

 

7.1

 

4.4

Tax benefit from stock-based compensation

 

(1.7)

 

(5.1)

Pension settlement

 

 

(8.6)

Other

 

4.7

 

3.9

Effective income tax rate

 

67.9

%  

20.6

%

Schedule of income taxes paid (net of refunds received)

U.S. federal taxes

  ​ ​ ​

$

23.5

State taxes

 

7.1

Foreign taxes:

 

  ​

Canada

 

12.1

Other foreign jurisdictions

 

6.9

$

49.6

Schedule of components of deferred tax assets and liabilities

May 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

Deferred tax assets:

Operating lease liabilities

$

26.8

$

25.4

Employee and retirement benefits

10.4

8.9

Inventory

9.4

State net operating losses

7.3

6.4

Other

 

4.0

 

8.2

Total deferred tax assets

57.9

49.0

Valuation allowance

(1.8)

(0.1)

Total deferred tax assets net of valuation allowance

56.1

48.9

Deferred tax liabilities:

ROU operating lease assets

(34.9)

(25.8)

Intangible assets

(33.9)

(32.2)

Tangible assets

(7.5)

(5.0)

Other

 

(2.9)

 

(4.3)

Total deferred tax liabilities

(79.2)

(67.3)

Net deferred tax liabilities

$

(23.1)

$

(18.4)