XML 36 R56.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Taxes (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Feb. 29, 2012
May 31, 2013
May 31, 2012
item
May 31, 2011
Current:        
Federal   $ (13.1) $ (9.8) $ (8.6)
State   (1.8) (0.5) 1.5
Foreign   12.1 3.0 1.8
Total current   (2.8) (7.3) (5.3)
Deferred   29.5 32.8 38.9
Provision for income taxes   26.7 25.5 33.6
Income tax receivable   18.0 22.8  
U.S. federal statutory income tax rate (as a percent)   35.00% 35.00% 35.00%
Reasons for difference between the provision for income taxes on pre-tax income from the amount computed by applying the U.S. federal statutory tax rate        
Provision for income taxes at the federal statutory rate   28.8 32.7 36.2
State income taxes, net of federal benefit and refunds 4.0 (1.0) (3.5) 0.9
Research and development credit   (1.1) (0.8) (0.4)
Noncontrolling interest   (0.2) (0.1)  
Settlement of tax examinations       (3.5)
Federal adjustments     (3.3)  
Other   0.2 0.5 0.4
Provision for income taxes   26.7 25.5 33.6
Deferred tax assets-current attributable to:        
Inventory costs   14.8 11.3  
Employee benefits   8.3 6.0  
Allowance for doubtful accounts   1.6 2.1  
AMT, NOL and FTC carrybacks     7.3  
Advanced billings and other   (6.7) (4.1)  
Total net deferred tax assets-current   18.0 22.6  
Deferred tax assets-noncurrent attributable to:        
Postretirement benefits   17.7 19.6  
Bond hedge   1.7 3.1  
Foreign intangible assets   41.5 39.5  
AMT, NOL and FTC carrybacks   37.6    
Other   1.0 4.8  
Total deferred tax assets-noncurrent   99.5 67.0  
Total deferred tax assets   117.5 89.6  
Deferred tax liabilities attributable to:        
Depreciation   (163.5) (119.0)  
Convertible notes   (3.9) (7.0)  
Capitalized program development costs   (28.8) (17.3)  
Foreign intangible assets   (41.5) (39.6)  
Total deferred tax liabilities   (237.7) (182.9)  
Net deferred tax liabilities   (120.2) (93.3)  
Effective income tax rate (as a percent)   32.50% 27.20%  
Number of significant businesses relocated     1  
Unrecognized tax benefits   0    
Reduction in income tax expense primarily due to allowance of foreign tax credits which had not been previously benefited       (3.5)
Reduction in income tax expense related to reduction of the entity's state income tax rate   $ 1.3 $ 4.0