Income Taxes (Tables)

12 Months Ended

May 31, 2016

Income Tax Disclosure [Abstract]

Components of Income Before Income Taxes

(In thousands)	2016		2015		2014
Income before income taxes for continuing operations consists of the following components:
U.S. operations	$	697,974	$	635,270	$	519,386
Foreign operations	20,148		18,054		17,741
	$	718,122	$	653,324	$	537,127

Components of Income Taxes

(In thousands)	2016			2015		2014
Income tax expense for continuing operations consists of the following components:
Current:
Federal	$	284,046		$	203,202	$	139,102
State and local	25,926			25,346		18,286
	309,972			228,548		157,388
Deferred	(48,791		)	14,255		41,967
	$	261,181		$	242,803	$	199,355

Reconciliation of Income Tax Expense Using the Statutory Rate and Actual Income Tax Expense

(In thousands)	2016			2015			2014
Reconciliation of income tax expense for continuing operations using the statutory rate and actual income tax expense is as follows:
Income taxes at the U.S. federal statutory rate	$	251,352		$	228,727		$	187,375
State and local income taxes, net of federal benefit	16,672			16,705			17,934
Other	(6,843		)	(2,629		)	(5,954		)
	$	261,181		$	242,803		$	199,355

Components of Deferred Income Taxes

The components of deferred income taxes included on the consolidated balance sheets are as follows:

(In thousands)	2016			2015
Deferred tax assets:
Allowance for doubtful accounts	$	7,416		$	4,857
Inventory obsolescence	13,702			12,266
Insurance and contingencies	42,717			38,522
Stock-based compensation	45,720			29,910
Foreign related carry-forwards	17,883			16,862
Treasury locks	12,055			5,829
Other	8,100			9,461
	147,593			117,707
Valuation allowance	(17,047		)	(14,690		)
	130,546			103,017
Deferred tax liabilities:
In service inventory	172,704			169,629
Property	93,784			77,871
Intangibles	104,585			84,218
Investment in partnerships	2,563			86,098
State taxes and other	16,385			24,528
	390,021			442,344
Net deferred tax liability	$	259,475		$	339,327

Summary of Valuation Allowance

The progression of the valuation allowance is as follows:

(In thousands)	2016			2015
Balance at beginning of year	$	(14,690	)	$	(13,358	)
Additions	(3,437		)	(2,433		)
Subtractions	1,080			1,101
Balance at end of year	$	(17,047	)	$	(14,690	)

Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the gross unrecognized tax benefits (exclusive of interest and penalties) is as follows:

(In thousands)
Balance at June 1, 2013	$	13,709
Additions for tax positions of prior years	2,586
Settlements	(1,270		)
Statute expirations	(1,963		)
Balance at May 31, 2014	$	13,062
Additions for tax positions of prior years	4,001
Settlements	(48		)
Statute expirations	(1,603		)
Balance at May 31, 2015	$	15,412
Additions for tax positions of prior years	3,259
Settlements	(48		)
Statute expirations	(2,092		)
Balance at May 31, 2016	$	16,531