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CREDIT AGREEMENT (Tables)
 12 Months Ended
Feb. 28, 2015
CREDIT AGREEMENT  
Schedule of interest rates on credit agreement (n thousands)

 

 

Fiscal Years Ended the Last Day of February,

 

 

    

2015

    

2014

    

2013

 

Average borrowings outstanding (1)

 

$
300,280 

 

$
29,680 

 

$
143,100 

 

Average interest rate during each year (2)

 

 
2.5 

%  

 
1.3 

%  

 
1.7 

%  

Interest rate range during each year

 

 

1.9 - 4.4

%  

 

1.2 - 3.6

%  

 

1.6 - 4.0

%  

Weighted average interest rates on borrowings outstanding at year end

 

 
1.9 

%  

 
0.0 

%  

 
1.6 

%  

(1)Average borrowings outstanding is computed as the average of the current and four prior quarters ending balances of our revolving credit facility.

 

(2)The average interest rate during each year is computed by dividing the total interest expense associated with our revolving credit facility for a fiscal year by the average borrowings outstanding for the same fiscal year.