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Income Taxes (Tables)

6 Months Ended

Nov. 30, 2015

Income Tax Disclosure [Abstract]

Components of Income Tax Expense/(Benefit)

The following table presents the components of income tax expense (benefit) for the three and six months ended November 30, 2015 and 2014 (in thousands of dollars):

	Three Months Ended								Six Months Ended
	Nov 30, 2015				Nov 30, 2014				Nov 30, 2015				Nov 30, 2014
Income (loss) before Income Taxes	$	(728	)		$	2,829			$	(1,402	)		$	4,247
Less discrete book income (expense):
Non-taxable portion of change in fair value of contingent consideration	—				—				170				—
Ordinary income (loss) before income taxes	(728		)		2,829				(1,572		)		4,247
Income tax expense (benefit) based on ordinary income (loss) at estimated tax rates for the three and six months ended November 30, 2015 and November 30, 2014, respectively	$	(429	)		$	1,140			$	(792	)		$	1,738
Discrete tax expense (benefit):
Adjustment for elimination of the ASC 718 APIC pool	43				330				514				685
Adjustments to prior period tax liabilities	20				21				(5		)		16
Total income tax expense (benefit)	$	(366	)		$	1,491			$	(283	)		$	2,439

Summary of Operating Loss Carryforwards

loss carryforwards, which expire as follows:

Expiration Date	NOL Available (in thousands)
FY 2017	$	802
FY 2019	11,898
FY 2020	8,128
FY 2022	7,526
FY 2023	2,346
FY 2027	20,167
FY 2028	22,527
FY 2029	27,684
FY 2030	28,043
FY 2031	5,647
FY 2032	600
FY 2033	1,345
FY 2034	—
FY 2035	11,581

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- References

No definition available.

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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

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- Definition

Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

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