INCOME TAXES

Our quarterly provision for income taxes is calculated using an estimated annual effective income tax rate, adjusted for discrete items that occur during the reporting period.



	Three Months Ended April 30,				Six Months Ended April 30,
	2016⁽¹⁾		2015		2016⁽²⁾		2015⁽³⁾
Effective tax rate on income from continuing operations	34.2	%	40.6	%	13.6	%	28.7	%

⁽¹⁾ The effective tax rate for the three months ended April 30, 2016 was lower than the rate for the three months ended April 30, 2015 primarily due to the positive impact of the 2016 WOTC.

⁽²⁾ Reflects $4.8 million of WOTC from the retroactive reinstatement of the WOTC for calendar year 2015, as well as the impact of the 2016 WOTC.

⁽³⁾Reflects $3.6 million of credits from the retroactive reinstatement of the WOTC for calendar year 2014 and state employment-based tax credits of $1.8 million.