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Share-Based Compensation Plans (Tables)

12 Months Ended

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) Includes 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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- Definition

Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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Tabular disclosure of the changes in outstanding nonvested shares.

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