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Income Taxes (Tables)

12 Months Ended

Feb. 28, 2025

Income Tax Disclosure [Abstract]

Components of Provision for Income Taxes

The following table represents components of the provision for income taxes for fiscal years ended (in thousands):

		2025				2024				2023
Current expense (benefit):
Federal		$	13,276			$	13,842			$	15,784
State and local			3,651				4,337				3,647
Total current			16,927				18,179				19,431
Deferred expense (benefit):
Federal			(1,328	)			(1,133	)			(1,341	)
State and local			(367	)			(520	)			(460	)
Total deferred			(1,695	)			(1,653	)			(1,801	)
Total provision for income taxes		$	15,232			$	16,526			$	17,630

Statutory U.S. Federal Income Tax Rate to Company's Effective Tax Rate

The following summary reconciles the statutory U.S. federal income tax rate to the Company’s effective tax rate for the fiscal years ended:

		2025				2024				2023
Statutory rate			21.0		%		21.0		%		21.0		%
Provision for state income taxes, net of federal    income tax benefit			4.5				4.3				3.9
Federal true-up			0.2				1.8				1.5
Stock compensation and Section 162(m) limitation			1.7				0.9				0.8
			27.4		%		28.0		%		27.2		%

Components of Deferred Income Tax Assets and Liabilities

The components of deferred income tax assets and liabilities are summarized as follows (in thousands) for fiscal years ended:

Deferred tax assets		2025				2024
Allowance for credit losses		$	388			$	385
Inventories			1,169				1,128
Employee compensation and benefits			1,226				712
Pension and noncurrent employee compensation    benefits			153				952
Property tax			216				—
Operating lease liabilities			2,567				2,529
Net operating loss and foreign tax credits			542				878
Other			309				—
Total deferred tax assets			6,570				6,584
Less: valuation allowance			(474	)			(408	)
Total deferred tax assets, net		$	6,096			$	6,176
Deferred tax liabilities
Property, plant and equipment		$	1,535			$	3,137
Goodwill and other intangible assets			9,774				9,739
Right-of-use assets			2,525				2,466
Other			103				139
Total deferred tax liabilities		$	13,937			$	15,481
Net deferred income tax liabilities		$	7,841			$	9,305

Reconciliation of Change in Unrecognized Tax Benefits

A reconciliation of the change in the unrecognized tax benefits for fiscal years ended 2025 and 2024 is as follows (in thousands):

		2025				2024
Balance at March 1, 2024		$	238			$	202
Additions based on tax positions			—				66
Reductions due to lapses of statues of limitations			(73	)			(30	)
Balance at February 28, 2025		$	165			$	238

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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.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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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.

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Tabular disclosure for tax position taken on unrecognized tax benefit.

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