Income Taxes (Tables)

12 Months Ended

May 31, 2022

Income Taxes

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

	For the Year Ended
	May 31,
	2022		2021		2020
Current:
Federal	$	11.0	$	5.2	$	1.4
State		2.6		1.2		0.9
Foreign		4.3		3.4		2.8
		17.9		9.8		5.1
Deferred		8.7		8.4		0.5
	$	26.6	$	18.2	$	5.6

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,
	2022		2021		2020
Provision for income tax at the federal statutory rate	$	22.1	$	13.5	$	6.4
Tax expense (benefits) from stock-based compensation		(2.1)		0.7		(2.1)
State income taxes, net of federal benefit		5.2		2.4		1.1
Change in valuation allowance for state deferred tax assets		—		—		(0.1)
Other		1.4		1.6		0.3
Provision for income tax	$	26.6	$	18.2	$	5.6

Schedule of income before provision for income taxes

	For the Year Ended
	May 31,
	2022		2021		2020
Domestic	$	77.1	$	43.7	$	23.6
Foreign		28.0		20.8		6.8
	$	105.1	$	64.5	$	30.4

Schedule of components of deferred tax assets and liabilities

	May 31,
	2022		2021
Deferred tax assets:
Operating lease liabilities	$	21.0	$	20.7
State net operating losses		8.0		6.8
Employee and retirement benefits		7.6		10.4
Allowance for credit losses		—		4.0
Other		1.9		2.6
Total deferred tax assets		38.5		44.5
Deferred tax liabilities:
Tangible and intangible assets		(33.6)		(31.9)
ROU operating lease assets		(22.1)		(21.9)
Other		(2.8)		(0.2)
Total deferred tax liabilities		(58.5)		(54.0)
Net deferred tax liabilities	$	(20.0)	$	(9.5)