XML 48 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Taxes
6 Months Ended
Aug. 31, 2014
Income Taxes  
Income Taxes

Note 11 – Income Taxes

 

Income tax expense for the fiscal quarter and year-to-date ended August 31, 2014 was 9.0 and 12.9 percent of income before income taxes, respectively, compared to 17.4 and 18.0 percent, respectively, for the same periods last year. During the fiscal quarter ended August 31, 2014, the Company recorded a tax benefit of $2.07 million related to the resolution of an uncertain tax position with a foreign tax authority, resulting in lower effective tax rates for the quarter and fiscal year-to-date when compared to the same periods last year.  Our effective tax rates were also impacted by asset impairment charges of $9.00 million for the fiscal quarter ended May 31, 2014, and $12.05 million for the fiscal quarter ended May 31, 2013, for which the related tax benefits were $0.86 and $0.02 million, respectively.