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Income Taxes (Tables) | 12 Months Ended
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Feb. 28, 2015
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | Earnings before income taxes consisted of the following:
(In thousands) | 2015 |  | 2014 |  | 2013
U.S. | $ | 59,898 |  |  | $ | 36,700 |  |  | $ | 26,699 |
International | 5,101 |  |  | 3,066 |  |  | 208 |
Earnings before income taxes | $ | 64,999 |  |  | $ | 39,766 |  |  | $ | 26,907 |
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) for each of the last three fiscal years are as follows:
(In thousands) | 2015 |  | 2014 |  | 2013
Current: |  |  |  |  |
Federal | $ | 7,328 |  |  | $ | 15,711 |  |  | $ | 5,036 |
State and local | 1,198 |  |  | 1,440 |  |  | 169 |
International | 1,790 |  |  | 1,437 |  |  | 409 |
Total current | $ | 10,316 |  |  | $ | 18,588 |  |  | $ | 5,614 |
Deferred: |  |  |  |  |
Federal | $ | 4,738 |  |  | $ | (4,549 | ) |  | $ | 2,680 |
State and local | (363 | ) |  | (378 | ) |  | 1,015 |
International | (101 | ) |  | (353 | ) |  | (138 | )
Total deferred | $ | 4,274 |  |  | $ | (5,280 | ) |  | $ | 3,557 |
Total non-current tax benefit | $ | (107 | ) |  | $ | (1,528 | ) |  | $ | (1,375 | )
Total income tax expense | $ | 14,483 |  |  | $ | 11,780 |  |  | $ | 7,796 |
Schedule of Effective Income Tax Rate Reconciliation | The differences between the statutory federal income tax rates and consolidated effective tax rates are as follows:
| 2015 |  | 2014 |  | 2013
Federal income tax expense at statutory rates | 35.0% |  | 35.0% |  | 35.0%
State and local income taxes, net of federal tax benefit | 1.2 |  | 0.9 |  | 0.9
Tax credits - research & development | (1.1) |  | (1.6) |  | (2.5)
Tax credits - 48C | (9.9) |  | — |  | —
Tax credits - other | (0.1) |  | (0.2) |  | (0.4)
Manufacturing deduction | (2.3) |  | (3.5) |  | (2.0)
Meals and entertainment | 0.4 |  | 0.6 |  | 0.9
Permanent tax adjustment for officers compensation | 0.1 |  | 0.1 |  | —
Nondeductible acquisition costs | — |  | 0.3 |  | —
Tax-exempt interest | — |  | (0.2) |  | (0.4)
Tax reserve adjustments - statute expirations and benefits recognized | (0.2) |  | (2.2) |  | (3.0)
Change in valuation allowance | 0.1 |  | 0.4 |  | 0.8
Other, net | (0.9) |  | — |  | —
Income tax expense | 22.3% |  | 29.6% |  | 29.3%
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and deferred tax liabilities at February 28, 2015 and March 1, 2014 are as follows:
| 2015 |  | 2014
(In thousands) | Current |  | Noncurrent |  | Current |  | Noncurrent
Accounts receivable | $ | 1,022 |  |  | $ | — |  |  | $ | 900 |  |  | $ | — |
Accrued insurance | 46 |  |  | 254 |  |  | 113 |  |  | 574 |
Other accruals | 2,826 |  |  | 958 |  |  | 2,680 |  |  | 792 |
Deferred compensation | 419 |  |  | 11,250 |  |  | (1 | ) |  | 9,323 |
Goodwill and other intangibles | 21 |  |  | (7,994 | ) |  | 23 |  |  | (8,624 | )
Inventory | 90 |  |  | (585 | ) |  | 720 |  |  | (1,164 | )
Depreciation | (853 | ) |  | (20,544 | ) |  | (853 | ) |  | (14,413 | )
Liability for unrecognized tax benefits | — |  |  | 2,784 |  |  | — |  |  | 2,781 |
Prepaid expenses | (731 | ) |  | 864 |  |  | (634 | ) |  | 595 |
Net operating losses | — |  |  | 3,084 |  |  | — |  |  | 3,566 |
Valuation allowance on net operating losses | (2,149 | ) |  | (442 | ) |  | (459 | ) |  | (2,312 | )
Other | 668 |  |  | (281 | ) |  | 225 |  |  | 315 |
Deferred tax assets (liabilities) | $ | 1,359 |  |  | $ | (10,652 | ) |  | $ | 2,714 |  |  | $ | (8,567 | )
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:
(In thousands) | 2015 |  | 2014 |  | 2013
Gross unrecognized tax benefits at beginning of year | $ | 4,431 |  |  | $ | 5,516 |  |  | $ | 7,125 |
Gross increases in tax positions for prior years | 261 |  |  | 44 |  |  | 236 |
Gross decreases in tax positions for prior years | (276 | ) |  | (616 | ) |  | (1,480 | )
Gross increases based on tax positions related to the current year | 508 |  |  | 326 |  |  | 621 |
Gross decreases based on tax positions related to the current year | (21 | ) |  | (40 | ) |  | (56 | )
Settlements | (93 | ) |  | (84 | ) |  | (682 | )
Statute of limitations expiration | (319 | ) |  | (809 | ) |  | (248 | )
Unrecognized tax benefits acquired in connection with Alumicor | — |  |  | 94 |  |  | — |
Gross unrecognized tax benefits at end of year | $ | 4,491 |  |  | $ | 4,431 |  |  | $ | 5,516 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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