Income Taxes (Tables)
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12 Months Ended |
Feb. 29, 2024 |
Income Tax Disclosure [Abstract] |
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Schedule Of Income Tax Provision |
Income Tax Provision | | | | | | | | | | | | | | | | | | | Years Ended February 29 or 28 | (In thousands) | 2024 | | 2023 | | 2022 | Current: | | | | | | Federal | $ | 140,480 | | | $ | 128,994 | | | $ | 264,194 | | State | 26,711 | | | 29,598 | | | 61,855 | | Total | 167,191 | | | 158,592 | | | 326,049 | | Deferred: | | | | | | Federal | (6,542) | | | (1,118) | | | 10,560 | | State | 1,742 | | | (5,432) | | | 4,440 | | Total | (4,800) | | | (6,550) | | | 15,000 | | Income tax provision | $ | 162,391 | | | $ | 152,042 | | | $ | 341,049 | |
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Schedule Of Effective Income Tax Rate Reconciliation |
Effective Income Tax Rate Reconciliation | | | | | | | | | | | | | | | | | | | Years Ended February 29 or 28 | | 2024 | | 2023 | | 2022 | Federal statutory income tax rate | 21.0 | % | | 21.0 | % | | 21.0 | % | State and local income taxes, net of federal benefit | 3.9 | | | 3.4 | | | 3.7 | | | | | | | | Share-based compensation | 0.2 | | | — | | | (1.8) | | Nondeductible and other items | 1.7 | | | 1.5 | | | 0.7 | | Credits | (1.5) | | | (2.0) | | | (0.7) | | Effective income tax rate | 25.3 | % | | 23.9 | % | | 22.9 | % |
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Schedule Of Temporary Differences Resulting In Deferred Tax Assets And Liabilities |
Temporary Differences Resulting in Deferred Tax Assets and Liabilities | | | | | | | | | | | | | As of February 29 or 28 | (In thousands) | 2024 | | 2023 | Deferred tax assets: | | | | Accrued expenses and other | $ | 93,690 | | | $ | 102,611 | | Allowance for loan losses | 117,618 | | | 123,636 | | | | | | Prepaid expenses | 2,902 | | | 3,484 | | Net operating loss carryforwards and other tax attributes | 29,670 | | | 35,184 | | Operating lease liabilities | 139,124 | | | 146,006 | | Share-based compensation | 43,689 | | | 37,165 | | | | | | Capital loss carry forward | 701 | | | 847 | | Total deferred tax assets | 427,394 | | | 448,933 | | Less: valuation allowance | (701) | | | (1,305) | | Total deferred tax assets after valuation allowance | 426,693 | | | 447,628 | | Deferred tax liabilities: | | | | Intangibles | 43,060 | | | 47,072 | | | | | | Property and equipment | 101,796 | | | 113,015 | | Operating lease assets | 130,181 | | | 137,617 | | Inventory | 18,933 | | | 14,512 | | | | | | Derivatives | 33,933 | | | 54,672 | | Total deferred tax liabilities | 327,903 | | | 366,888 | | Net deferred tax asset | $ | 98,790 | | | $ | 80,740 | |
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Schedule Of Reconciliation Of Unrecognized Tax Benefits |
Reconciliation of Unrecognized Tax Benefits | | | | | | | | | | | | | | | | | | | Years Ended February 29 or 28 | (In thousands) | 2024 | | 2023 | | 2022 | Balance at beginning of year | $ | 27,092 | | | $ | 24,765 | | | $ | 28,997 | | Increases for tax positions of prior years | 397 | | | 114 | | | 432 | | Decreases for tax positions of prior years | (172) | | | (19) | | | (5,056) | | Increases based on tax positions related to the current year | 3,627 | | | 3,813 | | | 2,657 | | Settlements | (386) | | | (79) | | | (391) | | Lapse of statute | (1,741) | | | (1,502) | | | (1,874) | | Balance at end of year | $ | 28,817 | | | $ | 27,092 | | | $ | 24,765 | |
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