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v3.22.1

Leases (Tables) | 12 Months Ended
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Feb. 28, 2022
Leases [Abstract] |
Lease, Cost | The following table outlines the classification of the Company's right-of-use asset and lease liabilities in the balance sheets for fiscal 2022 and 2021 (in thousands):
Balance Sheet | Classification |  | February 28, 2022 |  | February 28, 2021
Assets |  |  |  |  |
Right-of-use assets | Right-of-use assets |  | $ | 43,286 |  |  | $ | 37,801 |
Liabilities |  |  |  |  |
Operating lease liabilities ― ST | Lease liability - short-term |  | 7,140 |  |  | 6,552 |
Operating lease liabilities ― LT | Lease liability - long-term |  | 34,965 |  |  | 32,405 |
Finance lease liabilities ― ST | Lease liability - short-term |  | 178 |  |  | 66 |
Finance lease liabilities ― LT | Lease liability - long-term |  | 645 |  |  | 226 |
The following table outlines the classification of lease expense in the statements of income for fiscal 2022, 2021, and 2020 (in thousands):
| 2022 |  | 2021 |  | 2020
Cost of sales | $ | 11,070 |  |  | $ | 10,533 |  |  | $ | 13,521 |
Selling, general and administrative | 3,959 |  |  | 4,485 |  |  | 4,923 |
Total lease cost | $ | 15,029 |  |  | $ | 15,018 |  |  | $ | 18,444 |
Supplemental information related to the Company's portfolio of leases was as follows (in thousands, except years and percentages):
| 2022 |  | 2021
Operating cash flows from operating leases included in lease liabilities | $ | 9,044 |  |  | $ | 8,143 |
Lease liabilities obtained from new ROU assets - operating | $ | 13,389 |  |  | $ | 2,186 |
Weighted-average remaining lease term - operating leases | 7.90 years |  | 6.92 years
Weighted-average discount rate - operating leases | 4.56 | % |  | 4.71 | %
Operating and financing cash flows from financing leases included in lease liabilities | $ | 100 |  |  | $ | 25 |
Lease liabilities obtained from new ROU assets - financing | $ | 519 |  |  | $ | 230 |
Weighted-average remaining lease term - financing leases | 4.73 years |  | 4.25 years
Weighted-average discount rate - financing leases | 2.95 | % |  | 4.00 | %
Lessee, Operating Lease, Liability, Maturity | As of February 28, 2022, maturities of the Company's lease liabilities were as follows (in thousands):
Fiscal year: | Operating Leases |  | Finance Leases |  | Total
2023 | $ | 8,880 |  |  | $ | 199 |  |  | $ | 9,079 |
2024 | 7,930 |  |  | 199 |  |  | 8,129 |
2025 | 6,838 |  |  | 196 |  |  | 7,034 |
2026 | 5,302 |  |  | 132 |  |  | 5,434 |
2027 | 5,009 |  |  | 105 |  |  | 5,114 |
Thereafter | 16,331 |  |  | 46 |  |  | 16,377 |
Total lease payments | 50,290 |  |  | 877 |  |  | 51,167 |
Less imputed interest | (8,183) |  |  | (56) |  |  | (8,239) |
Total | 42,107 |  |  | 821 |  |  | 42,928 |
Finance Lease, Liability, Maturity | As of February 28, 2022, maturities of the Company's lease liabilities were as follows (in thousands):
Fiscal year: | Operating Leases |  | Finance Leases |  | Total
2023 | $ | 8,880 |  |  | $ | 199 |  |  | $ | 9,079 |
2024 | 7,930 |  |  | 199 |  |  | 8,129 |
2025 | 6,838 |  |  | 196 |  |  | 7,034 |
2026 | 5,302 |  |  | 132 |  |  | 5,434 |
2027 | 5,009 |  |  | 105 |  |  | 5,114 |
Thereafter | 16,331 |  |  | 46 |  |  | 16,377 |
Total lease payments | 50,290 |  |  | 877 |  |  | 51,167 |
Less imputed interest | (8,183) |  |  | (56) |  |  | (8,239) |
Total | 42,107 |  |  | 821 |  |  | 42,928 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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