INCOME TAXES

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



	Three Months Ended April 30,				Six Months Ended April 30,
	2017		2016		2017		2016
Effective tax rate on income from continuing operations	35.3	%	34.2	%	32.7	%	13.6	%

The effective tax rate for the six months ended April 30, 2017 was favorably impacted by $2.1 million of excess tax benefits related to the vesting of share-based compensation awards and the 2017 Work Opportunity Tax Credits (“WOTC”) for new hires. The effective tax rate for the six months ended April 30, 2016 was favorably impacted by $4.8 million of WOTC from the retroactive reinstatement of the WOTC for calendar year 2015 and the impact of the 2016 WOTC for new hires.