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Income Taxes
9 Months Ended
Feb. 24, 2019
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The effective income tax rate for continuing operations for the quarter ended February 24, 2019 was 11.1 percent expense compared to an effective income tax rate of 88.4 percent benefit for the quarter ended February 25, 2018. The effective income tax rate for continuing operations for the nine months ended February 24, 2019 was 9.7 percent expense compared to an effective income tax rate of 10.2 percent benefit for the nine months ended February 25, 2018. The increase in the effective income tax rate for the quarter and nine months ended February 24, 2019 was primarily due to the favorable impact in fiscal 2018 of the Tax Cuts and Jobs Act (Tax Act), which included a $77.3 million one-time adjustment of our net deferred tax liabilities and a corresponding income tax benefit reflected in our consolidated statements of earnings for the quarter and nine months ended February 25, 2018. We concluded our analysis of the accounting impact of the Tax Act pursuant to SEC Staff Accounting Bulletin 118 and recorded immaterial adjustments to the provisional amounts.
Included in our remaining balance of unrecognized tax benefits is $3.6 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.