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Share-Based Compensation Plans (Tables) | 12 Months Ended
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Feb. 28, 2017
Share-based compensation plans |
Schedule of shares authorized for issuance under the stock incentive plan |
Shares originally authorized |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,750,000
Less cumulative stock option grants issued, net of forfeitures |  |  |  |  |  |  |  |  | (1,182,894)
Less restricted share awards previously vested and settled |  |  |  |  |  |  |  |  | (439,613)
Subtotal |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,127,493
Less maximum RSUs issuable upon vesting (1) |  |  |  |  |  |  |  |  | (123,425)
Less maximum PSUs issuable upon vesting (1) |  |  |  |  |  |  |  |  | (396,312)
Shares available for issuance |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,607,756
| (1) |  | RSUs and PSUs potentially issuable are estimated assuming the maximum payouts adjusted for actual forfeitures to date.
Schedule of share-based compensation expense in SG&A | SHARE-BASED PAYMENT EXPENSE
| Fiscal Years Ended the Last Day of February,
(in thousands, except per share data) | 2017 |  | 2016 |  | 2015
Stock options | $ | 2,614 |  | $ | 2,961 |  | $ | 3,279
Directors stock compensation |  | 700 |  |  | 700 |  |  | 816
Performance based and other stock awards |  | 11,812 |  |  | 4,478 |  |  | 1,732
Employee stock purchase plan |  | 580 |  |  | 552 |  |  | 391
Share-based payment expense |  | 15,706 |  |  | 8,691 |  |  | 6,218
Less income tax benefits |  | (2,396) |  |  | (1,284) |  |  | (661)
Share-based payment expense, net of income tax benefits | $ | 13,310 |  | $ | 7,407 |  | $ | 5,557
Earnings per share impact of share based payment expense: |  |  |  |  |  |  |  |
Basic | $ | 0.48 |  | $ | 0.26 |  | $ | 0.19
Diluted | $ | 0.48 |  | $ | 0.26 |  | $ | 0.19
Schedule of assumptions used for fair value of stock option grants |
|  | Fiscal Years Ended the Last Day of February,
|  | 2017 |  | 2016 |  | 2015
Range of risk free interest rates used |  | 1.2% |  | 0.9% - 1.5% |  | 1.2% - 1.5%
Expected dividend rate |  | 0.0% |  | 0.0% |  | 0.0%
Weighted average volatility rate |  | 33.4% |  | 39.1% |  | 48.0%
Range of expected volatility rates used |  | 33.4% |  | 35.9% - 39.7% |  | 35.3% - 50.5%
Range of expected terms used (in years) |  | 4.1 |  | 4.1 - 4.4 |  | 4.1 - 4.4
Summary of option activity | SUMMARY OF STOCK OPTION ACTIVITY
|  |  |  |  |  |  |  |  |  | Weighted |  |  |
|  |  |  | Weighted |  | Weighted |  | Average |  |  |
|  |  |  | Average |  | Average |  | Remaining |  |  |
|  |  |  | Exercise |  | Grant Date |  | Contractual |  |  |
|  |  |  | Price |  | Fair Value |  | Term |  | Intrinsic
(in thousands, except contractual term and per share data) |  | Options |  | (per share) |  | (per share) |  | (in years) |  | Value
Outstanding at February 28, 2014 |  | 839 |  |  | 33.03 |  |  | 12.38 |  |  | 6.5 |  |  | 27,081
Grants |  | 257 |  |  | 63.84 |  |  | 25.22 |  |  |  |  |  |
Exercises |  | (187) |  |  | 29.70 |  |  |  |  |  |  |  |  | 6,498
Forfeitures / expirations |  | (141) |  |  | 40.67 |  |  |  |  |  |  |  |  |
Outstanding at February 28, 2015 |  | 768 |  |  | 42.76 |  |  | 16.28 |  |  | 6.6 |  |  | 26,008
Grants |  | 186 |  |  | 88.17 |  |  | 28.82 |  |  |  |  |  |
Exercises |  | (178) |  |  | 37.86 |  |  |  |  |  |  |  |  | 9,480
Forfeitures / expirations |  | (127) |  |  | 59.01 |  |  |  |  |  |  |  |  |
Outstanding at February 29, 2016 |  | 649 |  | $ | 53.94 |  | $ | 19.52 |  |  | 6.1 |  | $ | 26,847
Grants |  | 2 |  |  | 102.04 |  |  | 28.74 |  |  |  |  |  |
Exercises |  | (170) |  |  | 43.07 |  |  |  |  |  |  |  |  | 9,152
Forfeitures / expirations |  | (33) |  |  | 65.68 |  |  |  |  |  |  |  |  |
Outstanding at February 28, 2017 |  | 448 |  | $ | 57.41 |  | $ | 20.54 |  |  | 5.0 |  | $ | 18,097
Exercisable at February 28, 2017 |  | 168 |  | $ | 46.37 |  | $ | 17.30 |  |  | 4.3 |  | $ | 8,647
Schedule of non-vested option activity | NON-VESTED STOCK OPTION ACTIVITY
|  |  |  |  |  |  |  |  |  |  |  |  | Weighted
|  |  |  |  |  |  |  |  |  |  |  |  | Average
|  |  |  |  |  |  |  |  |  |  | Non- |  | Grant Date
|  |  |  |  |  |  |  |  |  |  | Vested |  | Fair Value
(in thousands, except per share data) |  |  |  |  |  |  |  |  |  |  | Options |  | (per share)
Outstanding at February 28, 2014 |  |  |  |  |  |  |  |  |  |  | 728 |  |  | 12.74
Grants |  |  |  |  |  |  |  |  |  |  | 257 |  |  | 25.22
Vested or forfeited |  |  |  |  |  |  |  |  |  |  | (311) |  |  | 13.87
Outstanding at February 28, 2015 |  |  |  |  |  |  |  |  |  |  | 674 |  |  | 16.98
Grants |  |  |  |  |  |  |  |  |  |  | 186 |  |  | 28.82
Vested or forfeited |  |  |  |  |  |  |  |  |  |  | (339) |  |  | 17.59
Outstanding at February 29, 2016 |  |  |  |  |  |  |  |  |  |  | 521 |  | $ | 20.81
Grants |  |  |  |  |  |  |  |  |  |  | 2 |  |  | 28.74
Vested or forfeited |  |  |  |  |  |  |  |  |  |  | (243) |  |  | 18.95
Outstanding at February 28, 2017 |  |  |  |  |  |  |  |  |  |  | 280 |  | $ | 22.48
Schedule of unrecognized share-based compensation expense |
|  |  |  |  | Weighted
|  |  |  |  | Average
|  | Unrecognized |  | Period of
|  | Compensation |  | Recognition
(in thousands, except weighted average expense period data) |  | Expense |  | (in months)
Stock options |  | $ | 3,578 |  | 25.4
Restricted stock units (RSUs and PSUs) |  |  | 10,804 |  | 23.5
Restricted stock (RSA) |
Share-based compensation plans |
Summary of award activity | SUMMARY OF RESTRICTED STOCK AWARD ACTIVITY
|  |  |  |  |  |  |  |  |  | Weighted |  |  |
|  |  |  |  |  |  |  |  |  | Average |  |  |
|  |  |  |  |  |  |  | Restricted |  | Grant Date |  |  |
|  |  |  |  |  |  |  | Stock |  | Fair Value |  | Fair Value
(in thousands, except per share data) |  |  |  |  |  |  |  | Awards |  | (per share) |  | Outstanding
Due for Issue at February 28, 2014 |  |  |  |  |  |  |  | 62 |  |  | 67.10 |  |  | 4,073
Vested and issued (1) |  |  |  |  |  |  |  | (62) |  |  | 67.10 |  |  |
Due for issue at February 28, 2015 |  |  |  |  |  |  |  | - |  |  | - |  |  | -
Granted (2) |  |  |  |  |  |  |  | 2 |  |  | 89.12 |  |  |
Vested and issued (2) |  |  |  |  |  |  |  | (2) |  |  | 89.12 |  |  |
Due for issue at February 29, 2016 |  |  |  |  |  |  |  | - |  | $ | - |  | $ | -
Granted |  |  |  |  |  |  |  | - |  |  | - |  |  |
Vested and issued |  |  |  |  |  |  |  | - |  |  | - |  |  |
Due for issue at February 28, 2017 |  |  |  |  |  |  |  | - |  | $ | - |  | $ | -
| (1) |  | Fiscal 2014 performance RSAs earned by our former CEO, which vested on April 22, 2014.
| (2) |  | Fiscal 2016 RSA to our current CEO, which were granted and vested on May 8, 2015.
Restricted Stock Units (RSU) |
Share-based compensation plans |
Summary of award activity | SUMMARY OF RESTRICTED STOCK UNIT ACTIVITY
|  |  |  |  |  |  |  |  |  |  | Weighted |  |  |
|  |  |  |  |  |  |  |  |  |  | Average |  |  |
|  |  |  |  |  |  |  | Restricted |  |  | Grant Date |  |  |
|  |  |  |  |  |  |  | Stock |  |  | Fair Value |  |  | Fair Value
(in thousands, except per share data) |  |  |  |  |  |  |  | Units |  |  | (per share) |  |  | Outstanding
Outstanding at February 28, 2014 (1) |  |  |  |  |  |  |  | 100 |  |  | 32.88 |  |  | 6,531
Granted (2) |  |  |  |  |  |  |  | 118 |  |  | 58.35 |  |  |
Vested (1) |  |  |  |  |  |  |  | (100) |  |  | 32.88 |  |  |
Outstanding at February 28, 2015 |  |  |  |  |  |  |  | 118 |  |  | 58.35 |  |  | 9,041
Granted (2) |  |  |  |  |  |  |  | 95 |  |  | 76.62 |  |  |
Vested |  |  |  |  |  |  |  | - |  |  | - |  |  |
Outstanding at February 29, 2016 |  |  |  |  |  |  |  | 213 |  | $ | 66.50 |  | $ | 20,311
Granted (2) |  |  |  |  |  |  |  | 162 |  |  | 96.90 |  |  |
Vested or forfeited (3) |  |  |  |  |  |  |  | (53) |  |  | 70.14 |  |  |
Outstanding at February 28, 2017 |  |  |  |  |  |  |  | 322 |  | $ | 81.19 |  | $ | 31,418
| (1) |  | Fiscal 2014 PSUs earned by our former CEO, which vested and settled on April 22, 2014 at a fair value of $67.10 per share.
| (2) |  | Includes target level RSUs and PSUs granted to our current CEO and members of management in connection with long-term incentive compensation for fiscal 2015, 2016 and 2017.
| (3) |  | Inclu des 15,643 RSUs which vested and settled throughout the year at an weighted average fair value of $60.28 per share.

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