INCOME TAXES (Tables)

12 Months Ended

Feb. 28, 2018

Components of Income Tax Provision (Benefit)

The provision (benefit) for income taxes for the years ended February 2016, 2017, and 2018 consisted of the following:



	2016			2017			2018
Current:
Federal	$	—		$	—		$	(1,209	)
State	(31		)	68			1,611
Total current	(31		)	68			402
Deferred:
Federal	1,793			(152		)	(13,612		)
State	307			(26		)	1,478
Total deferred	2,100			(178		)	(12,134		)
Provision (benefit) for income taxes	$	2,069		$	(110	)	$	(11,732	)

Reconciliation of Income Tax Provision (Benefit)

The provision (benefit) for income taxes for the years ended February 2016, 2017 and 2018 differs from that computed at the Federal statutory corporate tax rate as follows:



	2016			2017			2018
Computed income tax provision at 35%	$	618		$	4,588		$	23,855
State income tax	276			42			3,089
Nondeductible stock compensation	296			444			261
Entertainment disallowance	366			366			235
Disposal of goodwill with no tax basis	—			3,533			—
Change in federal valuation allowance	2,376			(7,387		)	(20,373		)
Tax attributed to noncontrolling interest	(1,932		)	(1,698		)	(1,785		)
Federal tax credit	(43		)	(171		)	(85		)
Federal tax reform	—			—			(15,546		)
Reclassification of AMT credit	—			—			(2,162		)
Other	112			173			779
Provision (benefit) for income taxes	$	2,069		$	(110	)	$	(11,732	)

Components of Deferred Tax Assets and Deferred Tax Liabilities

The components of deferred tax assets and deferred tax liabilities at February 28, 2017 and February 28, 2018 are as follows:



	2017			2018
Deferred tax assets:
Net operating loss carryforwards	$	35,365		$	10,977
Intangible assets	22,130			14,072
Compensation relating to stock options	1,942			1,600
Deferred revenue	420			—
Accrued rent	1,892			1,204
Tax credits	3,438			1,464
Investments in subsidiaries	396			143
Other	993			332
Valuation allowance	(60,379		)	(27,099		)
Total deferred tax assets	6,197			2,693
Deferred tax liabilities
Indefinite-lived intangible assets	(43,505		)	(31,383		)
Property and equipment	(814		)	(483		)
Cancellation of debt income	(5,386		)	(1,839		)
Other	(29		)	(391		)
Total deferred tax liabilities	(49,734		)	(34,096		)
Net deferred tax liabilities	$	(43,537	)	$	(31,403	)

Reconciliation of Total Amounts of Gross Unrecognized Tax Benefits

The following is a tabular reconciliation of the total amounts of gross unrecognized tax benefits for the years ending February 28, 2017 and February 28, 2018:



	For the year ending February 28,
	2017			2018
Gross unrecognized tax benefit – opening balance	$	(87	)	$	(60	)
Gross decreases – lapse of applicable statute of limitations	27			22
Gross unrecognized tax benefit – ending balance	$	(60	)	$	(38	)