Income Taxes |
9 Months Ended |
|---|---|
May 31, 2024 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes We apply an estimated annual effective tax rate to our year-to-date operating results to determine the interim provision for income tax expense. In addition, we recognize taxes related to unusual or infrequent items or resulting from a change in judgment regarding a position taken in a prior year as discrete items in the interim period in which the event occurs. Our effective tax rates for the three months ended May 31, 2024 and 2023 were 25.4% and 22.2%, respectively. The higher effective tax rate for the three months ended May 31, 2024 was primarily due to the tax impact in the prior year from an investment gain and higher expense from adjustments to prior year tax liabilities. Our effective tax rates for the nine months ended May 31, 2024 and 2023 were 22.6% and 22.1%, respectively. The higher effective tax rate for the nine months ended May 31, 2024 was primarily due to the tax impact in the prior year from an investment gain.
|