Income Taxes (Tables)

12 Months Ended

Feb. 28, 2019

Schedule of Components of Income Tax Provision (Benefit)

The provision (benefit) for income taxes for the years ended February 2017, 2018 and 2019 consisted of the following:

	For the year ended February 28,
	2017			2018			2019
Current:
Federal	$	—		$	(1,209	)	$	10,274
State		68			1,611			2,064
Total current		68			402			12,338
Deferred:
Federal		(152	)		(13,612	)		(4,033	)
State		(26	)		1,478			(2,138	)
Total deferred		(178	)		(12,134	)		(6,171	)
(Benefit) provision for income taxes	$	(110	)	$	(11,732	)	$	6,167

Schedule of Reconciliation of Income Tax Provision (Benefit)

The provision (benefit) for income taxes for the years ended February 2017, 2018 and 2019 differs from that computed at the Federal statutory corporate tax rate as follows:

	For the year ended February 28,
	2017			2018			2019
Federal statutory income tax rate		35	%		35	%		21	%
Computed income tax provision at federal statutory rate	$	4,588		$	23,855		$	6,772
State income tax		42			3,089			(74	)
Nondeductible stock compensation		444			261			63
Entertainment disallowance		366			235			215
Disposal of goodwill with no tax basis		3,533			—			—
Change in federal valuation allowance		(7,387	)		(20,373	)		599
Tax attributed to noncontrolling interest		(1,698	)		(1,785	)		(1,045	)
Federal tax credit		(171	)		(85	)		(85	)
Federal tax reform		—			(15,546	)		—
Reclassification of AMT credit		—			(2,162	)		82
Other		173			779			(360	)
(Benefit) provision for income taxes	$	(110	)	$	(11,732	)	$	6,167

Schedule of Components of Deferred Tax Assets and Deferred Tax Liabilities

The components of deferred tax assets and deferred tax liabilities at February 28, 2018 and 2019 were as follows:

	As of February 28,
	2018			2019
Deferred tax assets:
Net operating loss carryforwards	$	10,977		$	11,173
Intangible assets		14,072			13,023
Compensation relating to stock options		1,600			1,506
Accrued rent		1,204			974
Tax credits		1,464			1,165
Investments in subsidiaries		143			148
Other		332			298
Valuation allowance		(27,099	)		(26,724	)
Total deferred tax assets		2,693			1,563
Deferred tax liabilities
Indefinite-lived intangible assets		(31,383	)		(26,005	)
Property and equipment		(483	)		(698	)
Cancellation of debt income		(1,839	)		—
Other		(391	)		(92	)
Total deferred tax liabilities		(34,096	)		(26,795	)
Net deferred tax liabilities	$	(31,403	)	$	(25,232	)

Schedule of Reconciliation of Total Amounts of Gross Unrecognized Tax Benefits

The following is a tabular reconciliation of the total amounts of gross unrecognized tax benefits for the years ending February 28, 2018 and February 28, 2019:

	For the year ending February 28,
	2018			2019
Gross unrecognized tax benefit – opening balance	$	(60	)	$	(38	)
Gross decreases – lapse of applicable statute of limitations		22			16
Gross unrecognized tax benefit – ending balance	$	(38	)	$	(22	)