XML 52 R18.htm IDEA: XBRL DOCUMENT

Income Taxes	9 Months Ended
Income Taxes	Nov. 30, 2014
Income Taxes [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes The effective income tax rate was 47% for the nine months ended November 30, 2014. Our effective tax rate was higher than our estimated annual effective tax rate of 40% principally due to a discrete expense of $0.9 million we recorded during the period. This expense related to the effect of increasing our statutory rate by 1% on existing deferred tax liabilities due to changes in state tax laws and the effect of the WBLS-FM and WLIB-AM LMA and related acquisition on our income apportionments. This discrete expense is partially offset during the nine months ended November 30, 2014 by a discrete benefit of $0.6 million related to the loss on debt extinguishment the Company recorded during the period. The effective income tax rate was 6% for the nine months ended November 30, 2013. During the nine months ended November 30, 2013, the Company recorded a valuation allowance for its net deferred tax assets, including its net operating loss carryforwards.

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.

+ References+ Details