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Income Taxes
9 Months Ended
Aug. 31, 2015
Text Block [Abstract]  
Income Taxes
Income Taxes
Prior to January 31, 2014, the Company was a partner with Speedway Motorsports, Inc. ("SMI") in a 50/50 joint venture, SMISC, LLC, which, through its wholly owned subsidiary Motorsports Authentics, LLC conducted business under the name Motorsports Authentics (“MA”). The tax benefit related to certain tax filing positions of SMISC, LLC of approximately $2.1 million is the principal cause of the increased effective tax benefit for the three months ended August 31, 2014. The principal causes of the decreased effective income tax rate for the nine months ended August 31, 2014 is the tax treatment related to the other income recognized as a result of SMI's abandonment of their interest in SMISC, LLC on January 31, 2014, including the related tax benefits associated with various operating loss carryforwards of MA and certain tax filing positions of SMISC, LLC totaling approximately $3.8 million, along with certain state income tax adjustments. Changes in certain state tax rates are the the principal causes of the decreased effective tax (benefit) rate, as compared to the statutory income tax rate, for the three and nine months ended August 31, 2015.
As a result of these items, the Company's effective income tax rate was approximately 106.1 percent and 28.3 percent for the three and nine months ended August 31, 2014, respectively, and approximately 37.3 percent and 37.4 percent for the three and nine months ended August 31, 2015, respectively.