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Income Taxes
3 Months Ended
May 31, 2012
Income Taxes [Abstract]  
Income Taxes

(4) Income Taxes

It is the Company’s policy to report income tax expense for interim periods using an estimated annual effective income tax rate.  However, the tax effects of significant or unusual items are not considered in the estimated annual effective tax rate.  The tax effects of such discrete events are recognized in the interim period in which the events occur.  For the three and nine months ended May 31, 2012 and 2011, the Company recorded no material discrete items.

 

The Company recorded income tax expense of $9.8 million and $17.9 million for the three and nine months ended May 31, 2012, respectively.  The Company recorded income tax expense of $7.9 million and $15.8 million for the three and nine months ended May 31, 2011, respectively.  The calculated effective tax rate (defined as income tax provision divided by earnings before income taxes) was 34.2 percent and 34.0 percent for the three months ended May 31, 2012 and 2011, respectively.  The calculated effective tax rate was 34.2 percent and 33.9 percent for the year-to-date periods ended May 31, 2012 and 2011, respectively.