Income Taxes (Tables)

12 Months Ended

May 31, 2026

Income Taxes

Schedule of income tax expense

	For the Year Ended
	May 31,
	2026		2025		2024
Current:
Federal	$	37.6	$	20.7	$	21.0
State		11.3		3.1		4.0
Foreign		12.5		8.1		7.5
		61.4		31.9		32.5
Deferred		(3.2)		(5.5)		(20.5)
	$	58.2	$	26.4	$	12.0

Schedule of income (loss) before income tax expense

	For the Year Ended
	May 31,
	2026		2025		2024
Domestic	$	184.2	$	(22.5)	$	14.6
Foreign		61.7		61.4		43.7
	$	245.9	$	38.9	$	58.3

Schedule of reconciliation of effective income tax rate

	Amount		Percent
Income tax expense at the U.S. federal statutory rate	$	51.6	21.0	%
State income taxes, net of federal benefit		9.6	3.9
Foreign tax effects		0.1	—
Nontaxable or nondeductible items:
Bargain purchase gain		(6.2)	(2.5)
Compensation		2.6	1.1
Other		1.9	0.8
Tax benefit from stock-based compensation		(1.4)	(0.6)
	$	58.2	23.7	%

	For the Year Ended May 31,
	2025		2024
Income tax expense at the U.S. federal statutory rate	21.0	%	21.0	%
FCPA settlement	26.7		—
State income taxes, net of federal benefit	10.1		5.0
Non-deductible compensation	7.1		4.4
Tax benefit from stock-based compensation	(1.7)		(5.1)
Pension settlement	—		(8.6)
Other	4.7		3.9
Effective income tax rate	67.9	%	20.6	%

Schedule of income taxes paid (net of refunds received)

U.S. federal taxes	$	23.5
State taxes		7.1
Foreign taxes:
Canada		12.1
Other foreign jurisdictions		6.9
	$	49.6

Schedule of components of deferred tax assets and liabilities

	May 31,
	2026		2025
Deferred tax assets:
Operating lease liabilities	$	26.8	$	25.4
Employee and retirement benefits		10.4		8.9
Inventory		9.4		—
State net operating losses		7.3		6.4
Other		4.0		8.2
Total deferred tax assets		57.9		49.0
Valuation allowance		(1.8)		(0.1)
Total deferred tax assets net of valuation allowance		56.1		48.9
Deferred tax liabilities:
ROU operating lease assets		(34.9)		(25.8)
Intangible assets		(33.9)		(32.2)
Tangible assets		(7.5)		(5.0)
Other		(2.9)		(4.3)
Total deferred tax liabilities		(79.2)		(67.3)
Net deferred tax liabilities	$	(23.1)	$	(18.4)