XML 144 R97.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Income Taxes - Components of Income Tax and Deferred Tax (Details) - USD ($)
$ in Thousands
 12 Months Ended
Feb. 29, 2024
Feb. 28, 2023
Feb. 28, 2022
Components of income (loss) before income tax expense      
U.S. $ 68,957 $ 41,738 $ 63,653
Non-U.S. 140,085 129,551 196,313
Income before income tax 209,042 171,289 259,966
Current:      
U.S. federal 9,259 13,472 20,907
State 2,704 3,417 6,283
Non-U.S. 15,275 13,369 17,883
Total current tax expense (benefit) 27,238 30,258 45,073
Deferred:      
U.S. federal 9,449 (3,337) (5,269)
State 3,252 (1,815) (1,766)
Non-U.S. 509 2,910 (1,836)
Total deferred tax expense (benefit) 13,210 (2,242) (8,871)
Total $ 40,448 $ 28,016 $ 36,202
Effective income tax rate reconciliation      
Effective income tax rate at the U.S. statutory rate 21.00% 21.00% 21.00%
Impact of U.S. state income taxes 2.20% 0.30% 1.40%
Effect of foreign exchange fluctuations (0.30%) 2.50% 0.50%
Effect of stock compensation 1.20% 0.00% 0.00%
Effect of uncertain tax positions 0.40% 0.20% 0.60%
Effect of non-deductible executive compensation 1.90% 1.20% 1.10%
Effect of changes in valuation allowance 3.90% (0.50%) 0.50%
Effect of changes in tax rates (4.40%) (0.40%) (0.10%)
Other items (0.70%) 0.70% (0.20%)
Effective income tax rate 19.30% 16.40% 13.90%
Deferred tax assets, gross:      
Operating loss carryforwards and tax credits $ 19,345 $ 10,882  
Accounts receivable 6,877 9,674  
Inventories 26,498 20,541  
Operating lease liabilities 10,329 11,658  
Research and development expenditures 2,847 5,722  
Interest limitation 7,561 1,932  
Accrued expenses and other 5,953 4,676  
Total gross deferred tax assets 79,410 65,085  
Valuation allowance (19,044) (10,706)  
Deferred tax liabilities:      
Operating lease assets (8,119) (8,997)  
Depreciation (28,433) (9,397)  
Amortization (61,405) (61,252)  
Total deferred tax liabilities, net $ (37,591) $ (25,267)  
Macau Finance Bureau      
Effective income tax rate reconciliation      
Effect of income from other non-U.S. operations subject to varying rates (4.00%) (5.40%) 0.10%
Barbados Revenue Authority      
Effective income tax rate reconciliation      
Effect of income from other non-U.S. operations subject to varying rates (2.40%) (3.30%) (11.00%)
Swiss Federal Tax Administration (FTA)      
Effective income tax rate reconciliation      
Effect of income from other non-U.S. operations subject to varying rates (1.80%) (2.00%) (1.20%)
Other Non-US      
Effective income tax rate reconciliation      
Effect of income from other non-U.S. operations subject to varying rates 2.30% 2.10% 1.20%