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v3.22.2.2

Leases (Tables) | 6 Months Ended
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Aug. 31, 2022
Leases [Abstract] |
Lease, Cost | The following table outlines, for the Company's continuing operations, the classification of the Company's right-of-use assets and lease liabilities in the consolidated balance sheets as of August 31, 2022 and fiscal year end 2022 (in thousands):
Balance Sheet | Classification |  | August 31, 2022 |  | February 28, 2022
Assets |  |  |  |  |
Right-of-use assets | Right-of-use assets |  | $ | 25,550 |  |  | $ | 13,954 |
Liabilities |  |  |  |  |
Operating lease liabilities ― ST | Lease liability - short-term |  | 5,186 |  |  | 3,131 |
Operating lease liabilities ― LT | Lease liability - long-term |  | 20,185 |  |  | 10,798 |
Finance lease liabilities ― ST | Lease liability - short-term |  | 200 |  |  | 158 |
Finance lease liabilities ― LT | Lease liability - long-term |  | 756 |  |  | 605 |
Supplemental information related to the Company's portfolio of operating leases was as follows (in thousands):
| Three Months Ended August 31, |  | Six Months Ended August 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Operating cash flows from operating leases included in lease liabilities | $ | 2,816 |  |  | $ | 2,257 |  |  | $ | 5,224 |  |  | $ | 4,534 |
Lease liabilities obtained from new ROU assets - operating | 2,638 |  |  | 473 |  |  | 13,753 |  |  | 13,120 |
Operating and financing cash flows from financing leases included in lease liabilities | 60 |  |  | 20 |  |  | 112 |  |  | 38 |
Lease liabilities obtained from new ROU assets - financing | 360 |  |  | 14 |  |  | 398 |  |  | 14 |
| August 31, 2022 |  | February 28, 2022
Weighted-average remaining lease term - operating leases (years) | 7.11 |  | 7.90
Weighted-average discount rate - operating leases | 4.47 | % |  | 4.56 | %
Weighted-average remaining lease term - financing leases (years) | 4.67 |  | 4.73
Weighted-average discount rate - financing leases | 4.11 | % |  | 2.95 | %
The following table outlines the classification of lease expense related to operating leases from continuing operations, in the statements of income (in thousands):
| Three Months Ended August 31, |  | Six Months Ended August 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Cost of sales | $ | 3,214 |  |  | $ | 1,659 |  |  | $ | 5,283 |  |  | $ | 3,215 |
Selling, general and administrative | 567 |  |  | 344 |  |  | 941 |  |  | 601 |
Total lease expense | $ | 3,781 |  |  | $ | 2,003 |  |  | $ | 6,224 |  |  | $ | 3,816 |
Lessee, Operating Lease, Liability, Maturity | As of August 31, 2022, maturities of the Company's lease liabilities, excluding lease liabilities associated with our discontinued operations, were as follows (in thousands):
Fiscal year: |  | Operating Leases |  | Finance Leases |  | Total
2023 |  | $ | 3,106 |  |  | $ | 117 |  |  | $ | 3,223 |
2024 |  | 5,940 |  |  | 234 |  |  | 6,174 |
2025 |  | 5,368 |  |  | 234 |  |  | 5,602 |
2026 |  | 4,642 |  |  | 188 |  |  | 4,830 |
2027 |  | 3,789 |  |  | 163 |  |  | 3,952 |
Thereafter |  | 5,626 |  |  | 118 |  |  | 5,744 |
Total lease payments |  | 28,471 |  |  | 1,054 |  |  | 29,525 |
Less imputed interest |  | (3,100) |  |  | (98) |  |  | (3,198) |
Total |  | $ | 25,371 |  |  | $ | 956 |  |  | $ | 26,327 |

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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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