XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Income Taxes | 6 Months Ended
--- | ---
Aug. 31, 2022
Income Tax Disclosure [Abstract] |
Income Taxes | The following table outlines income or loss and the related tax expense (benefit) from discontinued operations for the three and six months ended August 31, 2022 and 2021 (in thousands):
| Three Months Ended August 31, |  | Six Months Ended August 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Income from discontinued operations before income taxes | $ | 8,676 |  |  | $ | 5,670 |  |  | $ | 19,850 |  |  | $ | 15,827 |
Income tax expense | (1,939) |  |  | (960) |  |  | (4,401) |  |  | (393) |
Income from discontinued operations, net of tax | $ | 6,737 |  |  | $ | 4,710 |  |  | $ | 15,449 |  |  | $ | 15,434 |
Estimated loss on disposal of discontinued operations | $ | (114,900) |  |  | $ | — |  |  | $ | (114,900) |  |  | $ | — |
Income tax benefit | 25,473 |  |  | — |  |  | 25,473 |  |  | — |
Estimated loss on disposal of discontinued operations, net of tax | $ | (89,427) |  |  | $ | — |  |  | $ | (89,427) |  |  | $ | — |
The provision for income taxes from continuing operations reflects an effective tax rate of 30.1% for the three months ended August 31, 2022, compared to 21.5% for the three months ended August 31, 2021. The increase in the effective tax rate was primarily attributable to a decrease of available research and development tax credits, as well as the relative mix of earnings across the jurisdictions within which we operate. The provision for income taxes from discontinued operations reflects an effective tax rate of 22.2% for the three months ended August 31, 2022, compared to 16.9% for the three months ended August 31, 2021. The increase is related to an unfavorable permanent adjustment for goodwill that, for tax purposes, is non-deductible. For the six months ended August 31, 2022, the effective tax rate from continuing operations was 28.2%, compared to 31.9% for the prior year comparable period. The current year decrease in the effective tax rate is the result of unfavorable adjustments related to uncertain tax positions recorded in the prior year comparable period.The provision for income taxes from discontinued operations reflects an effective tax rate of 22.2% for the six months ended August 31, 2022, compared to 16.9% for the three months ended August 31, 2021. The increase is related to an unfavorable permanent adjustment for goodwill that, for tax purposes, is non-deductible.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration