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Income Taxes (Tables) | 12 Months Ended
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Feb. 28, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The provision for income taxes for continuing and discontinued operations for fiscal year 2023, 2022 and 2021 consisted of the following (in thousands):
|  | 2023 |  | 2022 |  | 2021
Income from continuing operations before income taxes |  |  |  |  |
Domestic | $ | 80,508 |  |  | $ | 67,697 |  |  | $ | 36,087 |
Foreign | 8,167 |  |  | 5,334 |  |  | 2,344 |
Income from continuing operations before income taxes | $ | 88,675 |  |  | $ | 73,031 |  |  | $ | 38,431 |
Current provision: |  |  |  |  |
| Federal | $ | (1,848) |  |  | $ | 17,994 |  |  | $ | 11,003 |
| Foreign | 2,127 |  |  | 2,003 |  |  | 177 |
| State and local | 5,918 |  |  | 2,761 |  |  | 2,292 |
Total current provision for income taxes | $ | 6,197 |  |  | $ | 22,758 |  |  | $ | 13,472 |
Deferred provision (benefit): |  |  |  |  |
| Federal | $ | 17,273 |  |  | $ | 933 |  |  | $ | (3,331) |
| Foreign | (24) |  |  | (491) |  |  | (775) |
| State and local | (1,110) |  |  | 14 |  |  | 1,882 |
Total deferred provision for (benefit from) income taxes for continuing operations | $ | 16,139 |  |  | $ | 456 |  |  | $ | (2,224) |
Total provision for income taxes for continuing operations | $ | 22,336 |  |  | $ | 23,214 |  |  | $ | 11,248 |
Income taxes (benefit) on discontinued operations | (19,544) |  |  | (891) |  |  | 135 |
Total provision for income taxes | $ | 2,792 |  |  | $ | 22,323 |  |  | $ | 11,383 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation from the federal statutory income tax rate to the effective income tax rate for continuing operations is as follows for the prior three fiscal years:
|  | 2023 |  | 2022 |  | 2021
Statutory federal income tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Permanent differences |  | 0.6 |  |  | (0.2) |  |  | (12.5) |
State income taxes, net of federal income tax benefit |  | 4.4 |  |  | 3.0 |  |  | 7.3 |
Stock compensation |  | 0.1 |  |  | 0.1 |  |  | 1.5 |
Tax credits |  | (0.0) |  |  | (0.3) |  |  | (1.8) |
Foreign tax rate differential |  | 0.4 |  |  | 0.4 |  |  | — |
Uncertain tax positions |  | (1.5) |  |  | (1.7) |  |  | 1.1 |
Audit settlement |  | — |  |  | 0.6 |  |  | 2.5 |
Management fee |  | 3.2 |  |  | 6.2 |  |  | 10.0 |
Outside basis - AIS JV |  | (3.7) |  |  | — |  |  | — |
Other |  | 0.7 |  |  | 2.8 |  |  | 0.2 |
Effective income tax rate |  | 25.2 | % |  | 31.9 | % |  | 29.3 | %
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s net deferred income tax liability for continuing operations are as follows for fiscal year 2023 and 2022 (in thousands):
|  | 2023 |  | 2022
Deferred income tax assets: |  |  |  |
Employee related items |  | $ | 12,607 |  |  | $ | 3,750 |
Inventories |  | 6,639 |  |  | 6,536 |
Accrued warranty |  | 761 |  |  | 459 |
Accounts receivable |  | 1,603 |  |  | — |
Lease liabilities |  | 6,643 |  |  | 7,981 |
Net operating loss and other credit carry-forwards |  | 1,842 |  |  | 5,575 |
Research and experiment expense |  | 5,222 |  |  | — |
Interest expense limitation |  | 15,362 |  |  | 686 |
Outside basis difference - JV |  | 3,471 |  |  | — |
Other deferred income tax assets |  | 860 |  |  | 92 |
|  | $ | 55,010 |  |  | $ | 25,079 |
Less: valuation allowance |  | — |  |  | — |
Total deferred income tax assets |  | 55,010 |  |  | 25,079 |
Deferred income tax liabilities: |  |  |  |
Depreciation methods and property basis differences |  | $ | (48,604) |  |  | $ | (20,723) |
Right-of-use lease assets |  | (6,384) |  |  | (7,596) |
Accounts receivable |  | — |  |  | (619) |
Other assets and tax-deductible goodwill |  | (28,091) |  |  | (40,358) |
Total deferred income tax liabilities |  | (83,079) |  |  | (69,296) |
Net deferred income tax liabilities |  | $ | (28,069) |  |  | $ | (44,217) |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending balance of total unrecognized tax benefits, which is included in "Other long-term liabilities" in the consolidated balance sheets for the years ended February 28, 2023 and 2022 is as follows (in thousands):
|  | 2023 |  | 2022
Balance at beginning of period |  | $ | 2,294 |  |  | $ | 3,350 |
Increase for tax positions related to current periods: |  |  |  |
Gross increases |  | 195 |  |  | 513 |
Gross decreases |  | — |  |  | (260) |
Increase for tax positions related to prior periods: |  |  |  |
Gross increases |  | 2,653 |  |  | 997 |
Gross decreases |  | (729) |  |  | (356) |
Decreases related to settlements with taxing authorities |  | (175) |  |  | (691) |
Lapse of statute of limitations |  | (571) |  |  | (1,259) |
Balance at end of period |  | $ | 3,667 |  |  | $ | 2,294 |

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