Income Taxes (Tables)

12 Months Ended

May 31, 2018

Income Taxes

Schedule of components of provision for income tax on income from continuing operations

	For the Year Ended May 31,
	2018			2017		2016
Current:
Federal	$	14.6		$	9.3	$	13.7
State		0.1			0.2		0.4
Foreign		1.7			3.1		3.8
		16.4			12.6		17.9
Deferred		(12.9	)		12.5		5.5
	$	3.5		$	25.1	$	23.4

Schedule of difference between the provision for income taxes on pre-tax income from the amount computed by applying the U.S. federal statutory tax rate

	For the Year Ended May 31,
	2018			2017			2016
Provision for income tax (benefit) at the federal statutory rate	$	22.5		$	27.0		$	24.1
Deferred tax re-measurement from the Tax Reform Act		(14.1	)		—			—
Excess tax benefits from stock-based compensation		(2.9	)		—			—
State net operating losses		1.3			5.7			1.1
Change in valuation allowance for state deferred tax assets		(3.4	)		(5.7	)		(1.1	)
Prior period adjustments		—			—			(1.3	)
Effective settlement of prior tax position		—			(2.2	)		—
Other		0.1			0.3			0.6
Provision for income tax	$	3.5		$	25.1		$	23.4

Schedule of income before provision for income taxes

	For the Year Ended May 31,
	2018		2017		2016
Domestic	$	58.7	$	57.7	$	55.7
Foreign		18.5		19.4		13.2
	$	77.2	$	77.1	$	68.9

Schedule of components of deferred tax liabilities and assets

	May 31,
	2018			2017
Deferred tax assets:
Inventory costs	$	15.9		$	21.3
Impairments		2.1			5.6
Postretirement benefits		2.2			6.8
Employee benefits		9.7			12.3
State net operating losses		8.6			9.4
Other		3.2			3.4
Total deferred tax assets		41.7			58.8
Valuation allowance		(7.0	)		(10.4	)
Total deferred tax assets net of valuation allowance		34.7			48.4
Deferred tax liabilities:
Tangible and intangible assets		(50.2	)		(85.5	)
Other		(0.2	)		(0.1	)
Total deferred tax liabilities		(50.4	)		(85.6	)
Net deferred tax liabilities	$	(15.7	)	$	(37.2	)

Reconciliation of unrecognized tax benefits

	For the Year Ended May 31,
	2018		2017			2016
Balance, beginning of year	$	4.4	$	12.9		$	2.2
Additions for tax positions of prior years		—		0.4			10.7
Effective settlement of prior tax position		—		(8.9	)		—
Balance, end of year	$	4.4	$	4.4		$	12.9