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Income Taxes (Tables) | 12 Months Ended
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Aug. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Tax, Domestic and Foreign | Income before income taxes consisted of the following (in thousands):
| Fiscal Year Ended August 31,
| 2024 |  | 2023 |  | 2022
United States | $ | 47,345 |  |  | $ | 49,871 |  |  | $ | 47,427 |
Foreign (1) | 44,163 |  |  | 35,292 |  |  | 36,681 |
Income before income taxes | $ | 91,508 |  |  | $ | 85,163 |  |  | $ | 84,108 |
(1)Included in these amounts are income before income taxes for the EIMEA segment of $31.4 million, $25.6 million and $30.3 million for the fiscal years ended August 31, 2024, 2023 and 2022, respectively.
Schedule of Components of Income Tax Expense (Benefit) | The provision for income taxes consisted of the following (in thousands):
| Fiscal Year Ended August 31,
| 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $ | 9,559 |  |  | $ | 9,973 |  |  | $ | 7,487 |
State | 820 |  |  | 1,039 |  |  | 861 |
Foreign | 12,596 |  |  | 9,023 |  |  | 8,114 |
Total current | 22,975 |  |  | 20,035 |  |  | 16,462 |
Deferred: |  |  |  |  |
United States | (1,413) |  |  | (806) |  |  | 6 |
Foreign | 302 |  |  | (59) |  |  | 311 |
Total deferred | (1,111) |  |  | (865) |  |  | 317 |
Provision for income taxes | $ | 21,864 |  |  | $ | 19,170 |  |  | $ | 16,779 |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and deferred tax liabilities consisted of the following (in thousands):
| August 31, 2024 |  | August 31, 2023
Deferred tax assets: |  |  |
Accrued payroll and related expenses | $ | 1,321 |  |  | $ | 1,110 |
Reserves and accruals | 2,166 |  |  | 1,436 |
Research and development expenses | 1,520 |  |  | 1,125 |
Stock-based compensation expense | 2,622 |  |  | 2,394 |
Uncertain tax positions and related interest | 1,266 |  |  | 991 |
Uniform capitalization | 1,774 |  |  | 2,383 |
Tax credit carryforwards | 4,197 |  |  | 3,918 |
Other | 2,673 |  |  | 2,673 |
Total gross deferred tax assets | 17,539 |  |  | 16,030 |
Valuation allowance | (4,305) |  |  | (3,960) |
Total net deferred tax assets | 13,234 |  |  | 12,070 |
Deferred tax liabilities: |  |  |
Property and equipment, net | (3,940) |  |  | (4,215) |
Amortization of tax goodwill and intangible assets | (15,458) |  |  | (15,415) |
Other | (1,909) |  |  | (1,544) |
Total deferred tax liabilities | (21,307) |  |  | (21,174) |
Net deferred tax liabilities | $ | (8,073) |  |  | $ | (9,104) |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows (in thousands):
| Fiscal Year Ended August 31,
| 2024 |  | 2023 |  | 2022
Amount computed at U.S. statutory federal tax rate | $ | 19,217 |  |  | $ | 17,884 |  |  | $ | 17,662 |
Effect of foreign operations | 3,339 |  |  | 1,583 |  |  | 317 |
Net benefit from GILTI/FDII | (2,696) |  |  | (2,071) |  |  | (2,002) |
Uncertain tax positions and related interest | 947 |  |  | 1,377 |  |  | 273 |
Other | 1,057 |  |  | 397 |  |  | 529 |
Provision for income taxes | $ | 21,864 |  |  | $ | 19,170 |  |  | $ | 16,779 |
Schedule of Unrecognized Tax Benefits Roll Forward | Reconciliations of the beginning and ending amounts of the Company’s gross unrecognized tax benefits, excluding interest and penalties, are as follows (in thousands):
| Fiscal Year Ended August 31,
| 2024 |  | 2023
Unrecognized tax benefits – beginning of fiscal year | $ | 9,275 |  |  | $ | 9,251 |
Net increases – current period tax positions | 184 |  |  | 191 |
Expirations of statute of limitations for assessment | (312) |  |  | (167) |
Unrecognized tax benefits – end of fiscal year | $ | 9,147 |  |  | $ | 9,275 |

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