Income Taxes (Tables)

12 Months Ended

Feb. 28, 2015

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s net deferred income tax liability are as follows:

	2015			2014
	(In thousands)
Deferred income tax assets:
Employee related items	$	4,690		$	4,314
Inventories	1,080			839
Accrued warranty	893			504
Accounts receivable	565			2,342
Net operating loss carry forward	1,919			4,268
Other	—			606
	9,147			12,873
Less: valuation allowance	(1,588		)	(3,793		)
Total deferred income tax assets	7,559			9,080
Deferred income tax liabilities:
Depreciation methods and property basis differences	(28,611		)	(19,995		)
Other assets and tax-deductible goodwill	(26,161		)	(20,719		)
Total deferred income tax liabilities	(54,772		)	(40,714		)
Net deferred income tax liabilities	$	(47,213	)	$	(31,634	)

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consists of:

		2015			2014			2013
Income before income taxes:
Domestic		$	76,434		$	83,495		$	92,334
Foreign		13,696			10,416			2,035
Income before income taxes		$	90,130		$	93,911		$	94,369
Current provision:
	Federal	$	3,770		$	28,901		$	26,330
	Foreign	3,025			1,903			(2,600		)
	State and Local	2,575			4,382			4,136
Total current provision for income taxes		$	9,370		$	35,186		$	27,866
Deferred provision (benefit):
	Federal	$	15,455		$	(2,143	)	$	2,024
	Foreign	(858		)	1,230			3,455
	State and Local	1,220			41			568
Total deferred provision for income taxes		$	15,817		$	(872	)	$	6,047
Total provision for income taxes		$	25,187		$	34,314		$	33,913

Summary of Operating Loss Carryforwards

The following table summarizes the Net Operating Loss Carry forward:

	2015		2014
	(In thousands)
Federal	$	—	$	1,089
State	$	1,919	$	1,919
Foreign	$	—	$	1,260

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation from the federal statutory income tax rate to the effective income tax rate is as follows:

	2015		2014		2013
Statutory federal income tax rate	35.0	%	35.0	%	35.0	%
Permanent differences	0.6		1.3		0.2
State income taxes, net of federal income tax benefit	2.7		3.0		3.1
Benefit of Section 199 of the Code, manufacturing deduction	(2.4	)	(2.2	)	(2.6	)
Valuation allowance	(3.4	)	—		—
Tax credits	(3.4	)	—		—
Foreign tax rate differential	(0.7	)	(0.6	)	0.2
Other	(0.5	)	—		—
Effective income tax rate	27.9	%	36.5	%	35.9	%