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Cancellation Reserves | 3 Months Ended
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May 31, 2021
Cancellation Reserves [Abstract] |
Cancellation Reserves | Cancellation Reserves We recognize revenue for EPP products, on a net basis, at the time of sale. We also record a reserve, or refund liability, for estimated contract cancellations. Cancellations of these services may result from early termination by the customer, or default or prepayment on the finance contract. The reserve for cancellations is evaluated for each product and is based on forecasted forward cancellation curves utilizing historical experience, recent trends and the credit mix of the customer base. Cancellation Reserves
| Three Months Ended May 31 |  |
(In millions) | 2021 |  | 2020 |  |  |  |
Balance as of beginning of period | $ | 124.5 |  |  | $ | 117.9 |  |  |  |  |
Cancellations | (20.2) |  |  | (14.8) |  |  |  |  |
Provision for future cancellations | 34.1 |  |  | 13.6 |  |  |  |  |
Balance as of end of period | $ | 138.4 |  |  | $ | 116.7 |  |  |  |  |
The current portion of estimated cancellation reserves is recognized as a component of accrued expenses and other current liabilities with the remaining amount recognized in other liabilities. As of May 31, 2021 and February 28, 2021, the current portion of cancellation reserves was $53.2 million and $58.7 million, respectively.

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- Definition Contract Cancellation Reserve [Text Block] + References No definition available. + Details
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- Definition Contract Cancellation Reserves [Abstract] + References No definition available. + Details
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