Income Taxes (Tables)

3 Months Ended

May 31, 2023

Income Tax Disclosure [Abstract]

Disposal Groups, Including Discontinued Operations

The results of operations from discontinued operations for the three months ended May 31, 2022, have been reflected as discontinued operations in the consolidated statements of operations and consist of the following (in thousands):

	Three Months Ended
		May 31, 2022
Sales		$	107,264
Cost of sales		82,861
Gross margin		24,403
Selling, general and administrative		12,402
Operating income from discontinued operations		12,001
Interest expense		1
Other (income) expense, net		825
Income from discontinued operations before income tax		11,175
Income tax expense		2,451
Net income from discontinued operations		$	8,724
Earnings per common share from discontinued operations:
Basic earnings per share		$	0.35
Diluted earnings per share		$	0.34

We have included the net cash provided by discontinued operations in the consolidated statements of cash flows. The depreciation, amortization, capital expenditures, and significant operating and investing non-cash items of the discontinued operations consist of the following (in thousands):

	Three Months Ended May 31, 2022
Depreciation and amortization	$	3,146
Purchase of property, plant and equipment	1,336
Loss on sale of property, plant and equipment	5

The following table outlines income or loss and the related tax expense (benefit) from discontinued operations for the three months ended May 31, 2022 (in thousands):

	Three Months Ended
	May 31, 2022
Income from discontinued operations before income taxes	$	11,175
Income tax (expense) benefit	(2,451)
Income from discontinued operations, net of tax	$	8,724