Income Taxes

9 Months Ended

Feb. 28, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Note K – Income Taxes

Income tax expense for the nine months ended February 28, 2025 and February 29, 2024 reflected estimated annual ETRs of 24.4% and 30.8%, respectively. Income tax expense in the prior year period was impacted by certain discrete tax items triggered by the Separation, which were primarily non-deductible transaction costs. Management is required to estimate the annual ETR based upon its forecast of annual pre-tax income for domestic and foreign operations. Our actual ETR for fiscal 2025 could be materially different from the forecasted rate as of February 28, 2025.