XML 65 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Taxes
3 Months Ended
Aug. 24, 2014
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The effective income tax rate of 55.8 percent for the quarter ended August 24, 2014 reflected a tax benefit of $24.4 million on a loss before income taxes from continuing operations of $43.7 million. The effective income tax rate of 15.3 percent for the quarter ended August 25, 2013 reflected tax expense of $7.6 million on earnings before income taxes from continuing operations of $49.8 million. The change in the effective income tax rate for the quarter ended August 24, 2014 as compared to the quarter ended August 25, 2013 is primarily attributable to a $30.6 million tax benefit related to $80.0 million of debt breakage costs associated with the retirement of long-term debt. Excluding the impact of these costs and the related tax benefit, our effective income tax rate for the quarter ended August 24, 2014 would have been approximately 17.0 percent.
Included in our remaining balance of unrecognized tax benefits is $27.1 million related to tax positions for which it is reasonably possible that the total amounts could change within the next twelve months based on the outcome of examinations or as a result of the expiration of the statute of limitations for specific jurisdictions.