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v3.23.3

Leases (Tables) | 6 Months Ended
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Aug. 31, 2023
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 as of August 31, 2023 and February 28, 2023 (in thousands):
| Balance Sheet Classification |  | As of
|  | August 31, 2023 |  | February 28, 2023
Assets |  |  |  |  |
Right-of-use assets | Right-of-use assets |  | $ | 24,273 |  |  | $ | 26,392 |
Liabilities |  |  |  |  |
Operating lease liabilities ― short-term | Lease liability - short-term |  | $ | 6,145 |  |  | $ | 6,119 |
Operating lease liabilities ― long-term | Lease liability - long-term |  | 17,093 |  |  | 19,659 |
Finance lease liabilities ― short-term | Lease liability - short-term |  | 427 |  |  | 284 |
Finance lease liabilities ― long-term | Lease liability - long-term |  | 1,341 |  |  | 1,045 |
Lessee, Operating Lease, Liability, Maturity | The following table outlines the classification of the Company's right-of-use asset and lease liabilities in the balance sheets as of August 31, 2023 and February 28, 2023 (in thousands):
| Balance Sheet Classification |  | As of
|  | August 31, 2023 |  | February 28, 2023
Assets |  |  |  |  |
Right-of-use assets | Right-of-use assets |  | $ | 24,273 |  |  | $ | 26,392 |
Liabilities |  |  |  |  |
Operating lease liabilities ― short-term | Lease liability - short-term |  | $ | 6,145 |  |  | $ | 6,119 |
Operating lease liabilities ― long-term | Lease liability - long-term |  | 17,093 |  |  | 19,659 |
Finance lease liabilities ― short-term | Lease liability - short-term |  | 427 |  |  | 284 |
Finance lease liabilities ― long-term | Lease liability - long-term |  | 1,341 |  |  | 1,045 |
Supplemental information related to the Company's portfolio of operating leases from continuing operations was as follows (in thousands, except years and percentages):
| Three Months Ended August 31, |  | Six Months Ended August 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
Operating cash flows from operating leases included in lease liabilities | $ | 1,834 |  |  | $ | 1,999 |  |  | $ | 3,654 |  |  | $ | 3,133 |
Lease liabilities obtained from new ROU assets - operating | 373 |  |  | 2,775 |  |  | 1,895 |  |  | 2,885 |
Decrease in ROU assets related to lease terminations | (1,294) |  |  | — |  |  | (1,302) |  |  | — |
Operating and financing cash flows from financing leases included in lease liabilities | 113 |  |  | 49 |  |  | 199 |  |  | 94 |
Lease liabilities obtained from new ROU assets - financing | 599 |  |  | 277 |  |  | 599 |  |  | 277 |
| As of
| August 31, 2023 |  | February 28, 2023
Weighted-average remaining lease term - operating leases | 4.46 years |  | 5.04 years
Weighted-average discount rate - operating leases | 4.41 | % |  | 4.31 | %
Weighted-average remaining lease term - financing leases | 4.31 years |  | 4.61 years
Weighted-average discount rate - financing leases | 5.39 | % |  | 5.15 | %
The following table outlines the classification of lease expense related to operating leases from continuing operations, in the statements of operations (in thousands):
| Three Months Ended August 31, |  | Six Months Ended August 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
Cost of sales | $ | 3,136 |  |  | $ | 3,214 |  |  | $ | 6,237 |  |  | $ | 5,283 |
Selling, general and administrative | 506 |  |  | 567 |  |  | 1,005 |  |  | 941 |
Total lease cost | $ | 3,642 |  |  | $ | 3,781 |  |  | $ | 7,242 |  |  | $ | 6,224 |
Finance Lease, Liability, Maturity | As of August 31, 2023, 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
2024 | $ | 3,583 |  |  | $ | 254 |  |  | $ | 3,837 |
2025 | 6,505 |  |  | 500 |  |  | 7,005 |
2026 | 5,574 |  |  | 423 |  |  | 5,997 |
2027 | 4,401 |  |  | 386 |  |  | 4,787 |
2028 | 2,435 |  |  | 312 |  |  | 2,747 |
2029 | 1,869 |  |  | 101 |  |  | 1,970 |
Thereafter | 1,252 |  |  | 5 |  |  | 1,257 |
Total lease payments | $ | 25,619 |  |  | $ | 1,981 |  |  | $ | 27,600 |
Less imputed interest | (2,380) |  |  | (214) |  |  | (2,594) |
Total | $ | 23,239 |  |  | $ | 1,767 |  |  | $ | 25,006 |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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