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Income Taxes

3 Months Ended

Feb. 28, 2022

The provision for income taxes and effective tax rate were as follows:


	Three Months Ended
	February 28,
(Dollars in thousands)	2022		2021
Provision for income taxes	$167,420		310,105
Effective tax rate (1)	25.0	%	23.6	%

(1)For both the three months ended February 28, 2022 and 2021, the effective tax rate included state income tax expense and non-deductible executive compensation, partially offset by energy efficient home and solar tax credits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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