Income Taxes (Tables)

12 Months Ended

May 31, 2019

Income Tax Disclosure [Abstract]

Components of Provision for Income Taxes

Significant components of provision for income taxes for the years ended May 31, 2017, 2018 and 2019 were as follows:

	For the years ended May 31,
	2017			2018			2019
	US$			US$			US$
Current:
PRC		51,142			72,785			103,031
Deferred:
PRC		(518	)		(13,377	)		(17,317	)
Total provision for income taxes		50,624			59,408			85,714

Components of Group's Deferred Tax Assets and Liabilities

Significant components of the Group’s deferred tax assets and liabilities were as follows:

	As of May 31,
	2018			2019
	US$			US$
Deferred tax assets
Allowance doubtful accounts		1,965			3,523
Accrued expenses		32,253			43,212
Net operating loss carry-forward		14,611			22,299
Tax impact from the long term investments disposed to related party		—			1,521
Total deferred tax assets		48,829			70,555
Less: valuation allowance		(5,506	)		(9,088	)
Total deferred tax assets, net		43,323			61,467
Deferred tax liabilities
Acquired assets		3,308			5,038
Tax impact from the unrealized gain on available-for-sale investments		8,825			13,743
Total deferred tax liabilities		12,133			18,781

Reconciliation of Effective Tax Rates from 25% Statutory Tax Rates

A reconciliation of the effective tax rates from 25% statutory tax rates for the years ended May 31, 2017, 2018 and 2019 was as follows:

	For the years ended May 31,
	2017			2018			2019
	%			%			%
Statutory tax rate		25.00			25.00			25.00
Effect of not deductible expenses for tax purposes		2.03			4.35			16.70
Tax effect of exempt entities		(7.85	)		(8.10	)		(6.91	)
Effect of tax holiday		(5.56	)		(5.70	)		(9.73	)
Changes in valuation allowance		0.11			0.43			1.13
Effect of dividend withholding tax		1.58			0.66			0.77
Effective tax rate		15.31			16.64			26.96

Schedule of Increase in Income Tax Expenses and Decrease in Net Income Per Share

If the WFOE and certain subsidiaries and schools of the VIEs did not enjoy income tax exemptions and preferential tax rates for the years ended May 31, 2017, 2018 and 2019, the increase in income tax expenses and the decrease in net income per share amounts would be as follows:

	For the years ended May 31,
	2017		2018		2019
	US$		US$		US$
Increase in income tax expenses		42,895		48,444		51,002
Decrease in net income per share - basic		0.27		0.31		0.32
Decrease in net income per share - diluted		0.27		0.31		0.32