Income Taxes (Tables)

12 Months Ended

Feb. 28, 2017

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:

	2017			2016
	(Restated)			(Restated)
	(In thousands)
Deferred income tax assets:
Employee related items	$	6,839		$	5,652
Inventories	1,286			1,106
Accrued warranty	715			1,008
Accounts receivable	261			173
Net operating loss carry forward	4,011			2,903
	13,112			10,842
Less: valuation allowance	(648		)	(648		)
Total deferred income tax assets	12,464			10,194
Deferred income tax liabilities:
Depreciation methods and property basis differences	(27,913		)	(31,008		)
Other assets and tax-deductible goodwill	(37,950		)	(30,839		)
Total deferred income tax liabilities	(65,863		)	(61,847		)
Net deferred income tax liabilities	$	(53,399	)	$	(51,653	)

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consists of:

		2017			2016			2015
		(Restated)			(Restated)			(Restated)
		(in thousands)
Income before income taxes:
Domestic		$	74,972		$	93,561		$	77,511
Foreign		10,325			8,814			13,696
Income before income taxes		$	85,297		$	102,375		$	91,207
Current provision (benefit):
	Federal	$	23,282		$	28,099		$	3,770
	Foreign	2,751			2,706			3,025
	State and Local	(696		)	(337		)	2,575
Total current provision for income taxes		$	25,337		$	30,468		$	9,370
Deferred provision (benefit):
	Federal	$	(2,486	)	$	(6,560	)	$	15,859
	Foreign	189			(123		)	(858		)
	State and Local	993			3,046			1,220
Total deferred provision (benefit) for income taxes		$	(1,304	)	$	(3,637	)	$	16,221
Total provision for income taxes		$	24,033		$	26,831		$	25,591

Summary of Operating Loss Carryforwards

The following table summarizes the Net Operating Loss (NOL) Carryforward:

	2017		2016
	(In thousands)
Federal	$	—	$	—
State	$	4,011	$	2,903
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:

	2017		2016		2015
	(Restated)		(Restated)		(Restated)
Statutory federal income tax rate	35.0	%	35.0	%	35.0	%
Permanent differences	0.7		0.4		0.6
State income taxes, net of federal income tax benefit	0.4		(1.5	)	2.7
Benefit of Section 199 of the Code, manufacturing deduction	(2.3	)	(2.7	)	(2.4	)
Valuation allowance	—		(1.2	)	(3.4	)
Stock compensation	(1.8	)	—		—
Tax credits	(3.1	)	(3.2	)	(3.4	)
Foreign tax rate differential	(0.8	)	(0.4	)	(0.7	)
Other	0.1		(0.2	)	(0.3	)
Effective income tax rate	28.2	%	26.2	%	28.1	%