Income Taxes (Tables)

12 Months Ended

Aug. 31, 2018

Components Of Provision For Income Taxes

The components of the provision for income taxes consist of the following for the years ended August 31:



	2018			2017			2016
Current:
Federal	$	15,597		$	30,352		$	20,137
State	2,949			3,921			3,791
	18,546			34,273			23,928

Deferred:
Federal	(16,460		)	(2,378		)	4,372
State	648			(91		)	137
	(15,812		)	(2,469		)	4,509
Provision for income taxes	$	2,734		$	31,804		$	28,437

Provision For Income Taxes Computed By Applying The Statutory Federal Income Tax Rate

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate due to the following for the fiscal years ended August 31:



	2018		2017		2016
Amount computed by applying the statutory federal tax rate	25.7	%	35.0	%	35.0	%
State income taxes (net of federal income tax benefit)	3.8		2.6		2.8
Employment related and other tax credits, net	(1.8	)	(1.9	)	(2.5	)
Change in uncertain tax positions	0.2		—		(3.3	)
Federal tax benefit of statutory tax deduction	(1.3	)	(1.6	)	(1.4	)
Stock option excess tax benefit	(2.9	)	(1.0	)	—
Deferred tax revaluation	(19.1	)	—		—
Other	(0.9	)	0.2		0.1
Provision for income taxes	3.7	%	33.3	%	30.7	%

Schedule Of Deferred Tax Assets And Liabilities

Deferred tax assets and liabilities consist of the following at August 31:



	2018			2017
Deferred tax assets:
Allowance for doubtful accounts and notes receivable	$	661		$	419
Leasing transactions	1,928			3,083
Deferred income	1,846			3,011
Accrued liabilities	2,292			4,339
Stock compensation	1,553			3,156
Other	59			929
State net operating losses	18,659			18,031
Total deferred tax assets	26,998			32,968
Valuation allowance	(17,117		)	(16,254		)
Total deferred tax assets after valuation allowance	$	9,881		$	16,714

Deferred tax liabilities:
Prepaid expenses	$	(798	)	$	(956	)
Investment in partnerships, including differences in capitalization,
depreciation and direct financing leases	(3,083		)	(4,026		)
Property, equipment and capital leases	(12,603		)	(23,756		)
Intangibles and other assets	(14,837		)	(22,983		)
Debt extinguishment	—			(838		)
Direct financing leases	(2,786		)	(4,256		)
Total deferred tax liabilities	(34,107		)	(56,815		)
Net deferred tax liabilities (noncurrent)	$	(24,226	)	$	(40,101	)

Reconciliation Of Unrecognized Tax Benefits

A reconciliation of unrecognized tax benefits is as follows for fiscal years ended August 31:



	2018		2017
Balance at beginning of year	$	643	$	625
Additions for tax positions of prior years	147		18
Balance at end of year	$	790	$	643