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ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables) | 12 Months Ended
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Feb. 28, 2013
ORGANIZATION AND PRINCIPAL ACTIVITIES |
Schedule of the Company's subsidiaries and VIEs and VIE's subsidiaries and schools | As of February 2 8, 201 3, details of the Company’s subsidiaries, its VIEs and VIEs’ subsidiaries and schools are as follows:
|  |  |  | Place of |  |  |  |  |
|  | Later of date of |  | incorporation (or |  | Percentage |  |  |
|  | incorporation |  | establishment) |  | of legal |  |  |
Name |  | or acquisition |  | /operation |  | ownership |  | Principal activities |
Subsidiaries: |  |  |  |  |  |  |  |  |
TAL Holding Limited (“TAL Hong Kong”)(1) |  | March 11, 2008 |  | Hong Kong |  | 100% |  | Holding company |
TAL Education Technology (Beijing) Co., Ltd. (“TAL Beijing”) |  | May 8, 2008 |  | Beijing |  | 100% |  | Software sales, and consulting service |
Beijing Huanqiu Zhikang Shidai Education Consulting Co., Ltd. (“Huanqiu Zhikang”) |  | September 17, 2009 |  | Beijing |  | 100% |  | Education and management consulting service |
Yidu Huida Education Technology (Beijing) Co., Ltd. (“Yidu Huida”) |  | November 11, 2009 |  | Beijing |  | 100% |  | Software sales and consulting service |
Yidu Technology Group (“Yidu Cayman”) |  | February 2, 20 12 |  | Cayman Islands |  | 100% |  | Holding company |
Yidu Technology Group Limited (“Yidu Hong Kong”) |  | April 13, 20 12 |  | Hong Kong |  | 100% |  | Holding company |
TAL Electronic Technology (Shanghai) Co., Ltd (“TAL Shanghai”) |  | May 9, 20 12 |  | Shanghai |  | 100% |  | Software development, sales, and consulting service |
Beijing Xintang Sichuang Education Technology Co., Ltd (“Beijing Xintang Sichuang”) |  | August 27, 20 12 |  | Beijing |  | 100% |  | Software and Network development, sales, and consulting service |
Zhixuesi Education Consulting (Beijing) Co., Ltd (“ZhixueSi Beijing”) |  | October 23, 20 12 |  | Beijing |  | 100% |  | Software and Network development, sales, and consulting service |
YiduXuedi Network Technology (Beijing) Co., Ltd (“Yidu Xuedi Beijing”) |  | November 30, 20 12 |  | Beijing |  | 100% |  | Software and Network development, sales, and consulting service |
Variable interest entities: |  |  |  |  |  |  |  |  |
Beijing Xueersi Education Technology Co., Ltd. (“Xueersi Education”) |  | December 31, 2005 |  | Beijing |  | N/A* |  | Sales of educational materials and products |
Beijing Xueersi Network Technology Co., Ltd. (“Xueersi Network”) |  | August 23, 2007 |  | Beijing |  | N/A* |  | Technology development and Educational consulting service |
Beijing Dongfangrenli Science & Commerce Co., Ltd. (“Beijing Dongfangrenli”) |  | September 28, 20 11 |  | Beijing |  | N/A* |  | Study aboard intermediary service |
|  |  |  | Place of |  |  |  |  |
|  | Later of date of |  | incorporation (or |  | Percentage |  |  |
|  | incorporation |  | establishment) |  | of legal |  |  |
Name |  | or acquisition |  | /operation |  | ownership |  | Principal activities |
VIEs’ subsidiaries and schools: |  |  |  |  |  |  |  |  |
Beijing Haidian District Xueersi Training School (“Beijing Haidian School”) |  | July 3, 2006 |  | Beijing |  | N/A* |  | After-school tutoring for primary and secondary school students |
Beijing Dongcheng District Xueersi Training School (“Beijing Dongcheng School”) |  | March 21, 2008 |  | Beijing |  | N/A* |  | After-school tutoring for primary and secondary school students |
Beijing Zhikang Culture Distribution Co., Ltd. (“Zhikang”) |  | June 30, 2008 |  | Beijing |  | N/A* |  | After- school tutoring for primary and secondary school students |
Wuhan Jianghan District Xueersi English Training School (“Wuhan Jianghan School”)(2) |  | July 1, 2008 |  | Wuhan |  | N/A* |  | Language education |
Shanghai Changning District Xueersi Training School (“Shanghai Changning School”)(3) |  | August 1, 2008 |  | Shanghai |  | N/A* |  | After-school tutoring for primary and secondary school students |
Shanghai Minhang District Xueersi Training School (“Shanghai Minhang School”)(4) |  | August 1, 2008 |  | Shanghai |  | N/A* |  | Language education |
Beijing Xicheng District Xueersi Training School (“Beijing Xicheng School”) |  | April 2, 2009 |  | Beijing |  | N/A* |  | After-school tutoring for primary and secondary school students |
Shanghai Xueersi Education Information Consulting Co., Ltd. (“Shanghai Education”) |  | July 2, 2009 |  | Shanghai |  | N/A* |  | Educational information consulting and educational software development |
Tianjin Xueersi Education Information Consulting Co., Ltd. (“Tianjin Education”) |  | August 14, 2009 |  | Tianjin |  | N/A* |  | Educational information consulting service |
Guangzhou Xueersi Education Technology Co., Ltd. (“Guangzhou Education”) |  | August 16, 2009 |  | Guangzhou |  | N/A* |  | Educational technology research and development |
Shenzhen Xueersi Education Technology Co., Ltd. (“Shenzhen Education”) |  | December 22, 2009 |  | Shenzhen |  | N/A* |  | Teaching software research and development |
Beijing Haidian District Lejiale Training School (‘‘Beijing Lejiale School’’) |  | March 22, 2010 |  | Beijing |  | N/A* |  | After-school tutoring for primary and secondary school students |
Tianjin Hexi District Xueersi Training School (‘‘Hexi Xueersi School’’) |  | August 3, 2010 |  | Tianjin |  | N/A* |  | After-school tutoring for primary and secondary school students |
Hangzhou Xueersi Education Consulting Co., Ltd. (‘‘Hangzhou Education’’) |  | December 1, 2010 |  | Hangzhou |  | N/A* |  | Educational information consulting and educational software development |
Wuhan Jiang’an District Xueersi Training School (‘‘Wuhan Jiang’an School’’) |  | December 16, 2010 |  | Wuhan |  | N/A* |  | After-school tutoring for primary and secondary school students |
Beijing Chaoyang District Xueersi Training School (‘‘Beijing Chaoyang School’’) |  | January 17, 2011 |  | Beijing |  | N/A* |  | After-school tutoring for primary and secondary school students |
Beijing Xueersi Nanjing Education Technology Co., Ltd. (‘‘Nanjing Education’’) |  | January 24, 2011 |  | Nanjing |  | N/A* |  | Educational information consulting and educational software development |
Xi’an Xueersi Network Technology Co., Ltd. (‘‘Xi’an Network’’) |  | February 15, 2011 |  | Xi’an |  | N/A* |  | Software sales, and consulting service |
Shanghai Xueersi Network Technology Co., Ltd. (‘‘Shanghai Network’’) |  | March 10, 2011 |  | Shanghai |  | N/A* |  | Software sales, and consulting service |
|  |  |  | Place of |  |  |  |  |
|  | Later of date of |  | incorporation (or |  | Percentage |  |  |
|  | incorporation |  | establishment) |  | of legal |  |  |
Name |  | or acquisition |  | /operation |  | ownership |  | Principal activities |
VIEs’ subsidiaries and schools: - continued |  |  |  |  |  |  |  |  |
Chengdu Xueersi Education Consulting Co., Ltd. (‘‘Chengdu Education’’) |  | March18, 2011 |  | Chengdu |  | N/A* |  | Educational information consulting and educational software development |
Beijing Shijingshan District Xueersi Training School (“Beijing ShijingshanSchool”) |  | January 4, 2012 |  | Beijing |  | N/A* |  | After-school tutoring for primary and secondary school students |
TaiyuanYingze District Xueersi Training School (“ Taiyuan Yingze School”) |  | February 21, 20 12 |  | Taiyuan |  | N/A* |  | After-school tutoring for primary and secondary school students |
Suzhou Xueersi Network Technology Co., Ltd. (‘‘Suzhou Network’’) |  | February 21, 2012 |  | Suzhou |  | N/A* |  | Software sales, and consulting service |
Chongqing Shapingba District Xueersi Education Training School (“Chongqing Shapingba School”) |  | February 24, 20 12 |  | Chongqing |  | N/A* |  | After-school tutoring for primary and secondary school students |
Shenyang Xueersi Education Information Consulting Co., Ltd. (“Shenyang Education”) |  | April 12, 20 12 |  | Shenyang |  | N/A* |  | Educational information consulting service |
Zhengzhou Jinshui District Xueersi Shulihua Training Center (“Zhengzhou Jinshui Center”) |  | June 18, 2012 |  | Zhengzhou |  | N/A* |  | After-school tutoring for primary and secondary school students |
Guangzhou Tianhe District Xueersi Training Center (“Guangzhou Tianhe Center”) |  | July 12, 2012 |  | Guangzhou |  | N/A* |  | After-school tutoring for primary and secondary school students |
Shenyang Xueersi Education Training School (“Shenyang Training School”) |  | September 6, 2012 |  | Shenyang |  | N/A* |  | After-school tutoring for primary and secondary school students |
Suzhou Zhikang Culture Training Center (“Suzhou Zhikang Center”) |  | December 14, 2012 |  | Suzhou |  | N/A* |  | After-school tutoring for primary and secondary school students |
Guangzhou Liwan District Xueersi Training Center (“Guangzhou Liwan Center”) |  | February 25, 2013 |  | Guangzhou |  | N/A* |  | After-school tutoring for primary and secondary school students |
* These entities are controlled by the Company pursuant to the contractual arrangements disclosed below. (1) Previously known as Xueersi International Education Group and the name change permit granted by governmental authority in June 2013. (2) Previously known as Wuhan Jianghan District Xiaoxinxing English Training School and the name change permit granted by governmental authority in December 2010. (3) Previously known as Shanghai Changning District Lejiale Training School and the name change permit granted by governmental authority in April 2011. (4) Previously known as Shanghai Minhang District Lejiale Training School and the name change permit granted by governmental authority in December 2011.
Schedule of consolidated financial statement balances and amounts of the Company's VIEs included in the consolidated financial statements after the elimination of intercompany balances and transactions |
|  | As of February 2 9, |  | As of February 2 8, |
|  | 201 2 |  | 201 3 |
Cash and cash equivalents |  | $ | 48,556,206 |  | $ | 76,866,320 |
Term deposits |  | 10,328,116 |  | 11,251,668 |
Prepaid expenses and other current assets |  | 8,335,325 |  | 15,162,308 |
Total current assets |  | 67,219,647 |  | 103,280,296 |
Property and equipment, net |  | 52,497,923 |  | 50,385,824 |
Other non-current assets |  | 4,933,431 |  | 7,904,513 |
Total assets |  | 124,651,001 |  | 161,570,633 |
Deferred revenue |  | 50,395,945 |  | 67,743,448 |
Accrued expenses and other current liabilities |  | 13,746,478 |  | 15,174,629 |
Total current liabilities |  | 64,142,423 |  | 82,918,077 |
Total non-current liabilities |  | 45,881 |  | 36,845 |
Total liabilities |  | $ | 64,188,304 |  | $ | 82,954,922 |
|  | For the year ended |  | For the year ended |  | For the year ended |
|  | February 2 8, |  | February 2 9, |  | February 2 8, |
|  | 20 11 |  | 20 12 |  | 201 3 |
Net revenues |  | $ | 96,679,369 |  | $ | 142,650,139 |  | $ | 186,575,902 |
Net income |  | $ | 33,398,766 |  | $ | 45,236,929 |  | $ | 55,172,212 |
|  | For the year ended |  | For the year ended |  | For the year ended |
|  | February 2 8, |  | February 2 9, |  | February 2 8, |
|  | 20 11 |  | 20 12 |  | 201 3 |
Net cash provided by operating activities |  | $ | 15,437,897 |  | $ | 44,458,648 |  | $ | 37,349,571 |
Net cash used in investing activities |  | $ | (2,558,536 | ) | $ | (27,017,006 | ) | $ | (9,039,457 | )
Net cash used in financing activities |  | $ | (344,909 | ) | $ | — |  | $ | — |
Schedule of consolidated financial statement balances and amounts of the Company and its subsidiaries, excluding the Company's VIEs, included in the consolidated financial statements after the elimination of the inter-company transactions and balances |
|  | As of February 2 9, |  | As of February 2 8, |
|  | 201 2 |  | 201 3 |
Cash and cash equivalents |  | $ | 140,023,561 |  | $ | 108,214,353 |
Term deposits |  | — |  | 12,859,048 |
Prepaid expenses and other current assets |  | 2,991,822 |  | 2,084,846 |
Total current assets |  | 143,015,383 |  | 123,158,247 |
Property and equipment, net |  | 24,228,296 |  | 25,729,264 |
Other non-current assets |  | 2,758,225 |  | 5,583,735 |
Total assets |  | 170,001,904 |  | 154,471,246 |
Deferred revenue |  | 35,198,087 |  | 34,770,428 |
Accrued expenses and other current liabilities |  | 5,038,610 |  | 6,809,150 |
Total current liabilities |  | 40,236,697 |  | 41,579,578 |
Total non-current liabilities |  | 110,613 |  | 62,100 |
Total liabilities |  | $ | 40,347,310 |  | $ | 41,641,678 |
|  | For the year ended |  | For the year ended |  | For the year ended |
|  | February 2 8, |  | February 2 9, |  | February 2 8, |
|  | 20 11 |  | 20 12 |  | 201 3 |
Net revenues |  | $ | 13,908,930 |  | $ | 34,869,533 |  | $ | 39,355,193 |
Net income |  | $ | (9,357,616 | ) | $ | (20,923,276 | ) | $ | (21,732,146 | )
|  | For the year ended |  | For the year ended |  | For the year ended |
|  | February 2 8, |  | February 2 9, |  | February 2 8, |
|  | 20 11 |  | 20 12 |  | 201 3 |
Net cash provided by operating activities |  | $ | 38,384,726 |  | $ | 28,939,023 |  | $ | 28,060,174 |
Net cash used in investing activities |  | $ | (27,009,413 | ) | $ | (32,078,753 | ) | $ | (19,079,248 | )
Net cash provided by/(used in) financing activities |  | $ | 96,958,295 |  | $ | (470,022 | ) | $ | (41,465,075 | )

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS140-4/FIN46(R)-8 -Paragraph C4 -Subparagraph d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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- Definition Tabular disclosure of financial statement balances and amounts of the entity and its subsidiaries, excluding the entity's VIEs, included in the consolidated financial statements after the elimination of the inter-company transactions and balances. + References No definition available. + Details
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- Definition Tabular disclosure of the details of the company's subsidiaries, its VIEs and VIEs' subsidiaries and schools. + References No definition available. + Details
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