Summary of Significant Accounting Policies (Tables)

3 Months Ended

May. 31, 2015

Calculation of Basic and Diluted Net (loss) Income Per Share from Continuing Operations

The following table sets forth the calculation of basic and diluted net income per share:



	For the three months ended
	May 31, 2014					May 31, 2015
	Net Income		Shares	Net Income Per Share		Net Income		Shares	Net Income Per Share
	(amounts in 000’s, except per share data)
Basic net income per common share:
Net income available to common shareholders	$	956	42,093	$	0.02	$	1,525	43,217	$	0.04
Impact of equity awards	—		2,988	—		—		1,890	—
Impact of conversion of preferred stock into common stock	—		2,266	—		—		2,266	—
Diluted net income per common share:
Net income available to common shareholders	$	956	47,347	$	0.02	$	1,525	47,373	$	0.03

Shares Excluded from Calculation as Effect of Conversion into Shares of Common Stock would be Antidilutive

Shares excluded from the calculation as the effect of their conversion into shares of our common stock would be antidilutive were as follows:



	For the three months ended
	May 31,
	2014	2015
	(shares in 000’s )
Equity awards	974	3,592
Antidilutive common share equivalents	974	3,592

Schedule Of Operating Results From Local Programming and Marketing Agreements

The following table summarizes certain operating results of 98.7FM for all periods presented. Net revenues for 98.7FM are solely related to LMA fees. 98.7FM is a part of our radio segment.



	For the three months ended May 31,
	2014		2015
	(amounts in 000's)
Net revenues	$	2,583	$	2,583
Station operating expenses, excluding depreciation and amortization expense	224		257
Interest expense	828		780

Schedule Of Assets And Liabilities Of Local Programming and Marketing Agreements

Assets and liabilities of 98.7FM as of February 28, 2015 and May 31, 2015 were as follows:



	As of February 28,		As of May 31,
	2015		2015
	(amounts in 000's)
Current assets:
Restricted cash	$	1,467	$	1,264
Prepaid expenses	603		589
Total current assets	2,070		1,853
Noncurrent assets:
Property and equipment, net	—		269
Indefinite lived intangibles	51,063		51,063
Deferred debt issuance costs, net	2,495		2,428
Deposits and other	4,428		4,726
Total noncurrent assets	57,986		58,486
Total assets	$	60,056	$	60,339
Current liabilities:
Accounts payable and accrued expenses	$	22	$	22
Current maturities of long-term debt	4,990		5,105
Deferred revenue	753		779
Other current liabilities	241		236
Total current liabilities	6,006		6,142
Noncurrent liabilities:
Long-term debt, net of current portion	65,411		64,103
Other noncurrent liabilities	27		27
Total noncurrent liabilities	65,438		64,130
Total liabilities	$	71,444	$	70,272