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Income Taxes
9 Months Ended
Nov. 30, 2015
Income Taxes  
Income Taxes

Note 11 – Income Taxes

 

Income tax expense for the fiscal quarter and year-to-date ended November 30, 2015 was 11.8 and 14.1 percent of income before income taxes, respectively, compared to 9.2 and 10.7 percent, respectively, for the same periods last year. The year-over-year increase in our effective tax rates was due to shifts in the mix of taxable income in our various tax jurisdictions and a $7 million pre-tax gain from the amendment of a trademark license agreement in the same period last year, which reduced the effective tax rate by 1.2 and 0.8 percentage points for the fiscal quarter and year-to-date ended November 30, 2014, respectively. Income tax expense for the fiscal quarter and year-to-date periods ended November 30, 2015 includes a tax benefit of $2.44 million due to the finalization of certain tax returns, mostly offset by tax expense of $1.98 million related to the provision for an uncertain tax position in a foreign jurisdiction. The year-to-date comparison of effective tax rates was also impacted by a $2.07 million tax benefit recorded in the same period last year related to the resolution of an uncertain tax position.