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Financial Instruments and Risk Management (Tables)

9 Months Ended

Nov. 30, 2014

Financial Instruments and Risk Management

Schedule of fair values of derivative instruments

(in thousands)

November 30, 2014

Prepaid

Accrued

Expenses

Expenses

Final

and Other

and Other

Settlement

Notional

Current

Current

Designated as hedging instruments

Hedge Type

Date

Amount

Assets

Liabilities

Foreign currency contracts - sell Pounds

Cash flow

2/2015

£

1,500

$

162

$

-

February 28, 2014

Prepaid

Accrued

Expenses

Expenses

Final

and Other

and Other

Settlement

Notional

Current

Current

Designated as hedging instruments

Hedge Type

Date

Amount

Assets

Liabilities

Foreign currency contracts - sell Euro

Cash flow

6/2014

€

2,850

$

-

$

89

Foreign currency contracts - sell Pounds

Cash flow

11/2014

£

4,250

-

280

Interest rate swap

Cash flow

6/2014

$

75,000

-

1,227

Total fair value

$

-

$

1,596

Schedule of pre-tax effect of derivative instruments

(in thousands)

		Three months ended November 30,
		Gain / (Loss)						Gain / (Loss) Reclassified
		Recognized in OCI						from Accumulated Other
		(effective portion)						Comprehensive Income (Loss) into Income
		2014			2013			Location		2014				2013
Currency contracts - cash flow hedges		$	301		$	(641)		SG&A		$	201			$	(78	)
Interest rate swaps - cash flow hedges		-			(70)			Interest expense		-				(946		)
Total		$	301		$	(711)				$	201			$	(1,024	)
		Nine months ended November 30,
		Gain / (Loss)						Gain / (Loss) Reclassified
		Recognized in OCI						from Accumulated Other
		(effective portion)						Comprehensive Income (Loss) into Income
		2014			2013			Location		2014				2013
Currency contracts - cash flow hedges		$	515		$	(673)		SG&A		$	(15	)		$	246
Interest rate swaps - cash flow hedges		28			(97)			Interest expense		(1,199		)		(2,785		)
Total		$	543		$	(770)				$	(1,214	)		$	(2,539	)

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4A

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5618551-113959



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4C

-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4B

-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624163-113959

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