Income Taxes |
6 Months Ended |
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Aug. 31, 2015 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES |
INCOME TAXES:
Our effective tax rate for the six months ended August 31, 2015, and August 31, 2014, was 27.6% and 32.4%, respectively. Our effective tax rate for the three months ended August 31, 2015, and August 31, 2014, was 24.2% and 32.2%, respectively.
For the six months and three months ended August 31, 2015, our effective tax rates were lower than the federal statutory rate of 35% primarily due to a decrease in uncertain tax positions and lower effective tax rates applicable to our foreign businesses. Our effective tax rates for the six months and three months ended August 31, 2014, were lower than the federal statutory rate of 35% primarily due to lower effective tax rates applicable to our foreign businesses.
The Internal Revenue Service (“IRS”) concluded its review of our fiscal years ended February 29, 2010, and February 28, 2011. We received a Revenue Agent’s Report (“RAR”) from the IRS proposing tax assessments for those years. We disagree with certain assessments in this report and have submitted a written protest stating our formal disagreement with the conclusions presented in the RAR. We believe that our position will be successfully sustained. For other items that were effectively settled, we reduced our liability for uncertain tax positions and recorded a tax benefit of $31.9 million for the three months ended August 31, 2015.
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