Income Taxes |
6 Months Ended |
|---|---|
Aug. 31, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | 18. Income Taxes The Company is subject to U.S. federal income tax as well as income taxes of multiple state jurisdictions. The quarterly income tax provision was computed based on the Company's estimated annualized effective tax rate and the full-year forecasted income or loss plus the tax impact of unusual, infrequent, or nonrecurring significant items during the period.
The Company's effective tax rate for the three and six months ended August 31, 2025 and 2024 was 27.5%. The Company made cash payments for income taxes, net of income tax refunds of $8.8 million and $9.2 million for the six months ended August 31, 2025 and 2024, respectively.
During the quarter the One Big Beautiful Bill Act (“OBBBA”) was enacted into law. Key tax components of the OBBBA include extension of certain expiring tax provisions from the 2017 Tax Cuts and Jobs Act, the reinstatement of immediate expensing of qualifying business property, full expensing of domestic research and experimental expenditures and changes to interest expense limitations. The Company is currently evaluating the tax provisions of the OBBBA and does not expect a material impact to its financial statements. |