Income Taxes (Tables)

12 Months Ended

Feb. 29, 2016

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:

	2016			2015
	(In thousands)
Deferred income tax assets:
Employee related items	$	5,652		$	4,690
Inventories	1,106			1,080
Accrued warranty	1,008			893
Accounts receivable	173			565
Net operating loss carry forward	2,903			1,919
	10,842			9,147
Less: valuation allowance	(648		)	(1,588		)
Total deferred income tax assets	10,194			7,559
Deferred income tax liabilities:
Depreciation methods and property basis differences	(31,008		)	(28,611		)
Other assets and tax-deductible goodwill	(28,946		)	(26,161		)
Total deferred income tax liabilities	(59,954		)	(54,772		)
Net deferred income tax liabilities	$	(49,760	)	$	(47,213	)

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consists of:

		2016			2015			2014
Income before income taxes:
Domestic		$	95,554		$	76,434		$	83,495
Foreign		8,814			13,696			10,416
Income before income taxes		$	104,368		$	90,130		$	93,911
Current provision (benefit):
	Federal	$	28,099		$	3,770		$	28,901
	Foreign	2,706			3,025			1,903
	State and Local	(337		)	2,575			4,382
Total current provision for income taxes		$	30,468		$	9,370		$	35,186
Deferred provision (benefit):
	Federal	$	(5,813	)	$	15,455		$	(2,143	)
	Foreign	(123		)	(858		)	1,230
	State and Local	3,046			1,220			41
Total deferred provision (benefit) for income taxes		$	(2,890	)	$	15,817		$	(872	)
Total provision for income taxes		$	27,578		$	25,187		$	34,314

Summary of Operating Loss Carryforwards

The following table summarizes the Net Operating Loss Carry forward:

	2016		2015
	(In thousands)
Federal	$	—	$	—
State	$	2,903	$	1,919
Foreign	$	—	$	—

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:

	2016		2015		2014
Statutory federal income tax rate	35.0	%	35.0	%	35.0	%
Permanent differences	0.4		0.6		1.3
State income taxes, net of federal income tax benefit	(1.5	)	2.7		3.0
Benefit of Section 199 of the Code, manufacturing deduction	(2.7	)	(2.4	)	(2.2	)
Valuation allowance	(1.2	)	(3.4	)	—
Tax credits	(3.2	)	(3.4	)	—
Foreign tax rate differential	(0.4	)	(0.7	)	(0.6	)
Other	—		(0.5	)	—
Effective income tax rate	26.4	%	27.9	%	36.5	%