Financial Instruments and Risk Management (Tables)

12 Months Ended

Feb. 28, 2017

Financial Instruments and Risk Management

Schedule of fair values of derivative instruments

FAIR VALUES OF DERIVATIVE INSTRUMENTS


	February 28, 2017
					Prepaid				Accrued
					Expenses				Expenses
		Final			and Other				and Other		Other
(in thousands)		Settlement	Notional		Current		Other		Current		Liabilities,
Derivatives designated as hedging instruments	Hedge Type	Date	Amount		Assets		Assets		Liabilities		Non-current
Foreign currency contracts - sell Euro	Cash flow	2/2018	€	27,500	$	727	$	-	$	-	$	-
Foreign currency contracts - sell Canadian Dollars	Cash flow	6/2018	$	26,000		155		32		-		-
Foreign currency contracts - sell Pounds	Cash flow	2/2018	£	13,500		548		-		-		-
Foreign currency contracts - sell Mexican Pesos	Cash flow	2/2018	$	59,600		-		-		47		-
Subtotal						1,430		32		47		-

Derivatives not designated under hedge accounting
Foreign currency contracts - cross-currency debt swaps	(1)	1/2018	$	10,000		705		-		-		-
Total fair value					$	2,135	$	32	$	47	$	-

(1)

We have entered into foreign currency contracts referred to as “cross-currency deb swaps”, which in effect adjusts the currency denomination of our 3.9% Senior Notes due January 2018 to the Euro for the notional amounts reported, creating an economic hedge against currency movements. On these contracts, we have not elected hedge accounting.


	February 29, 2016
					Prepaid				Accrued
					Expenses				Expenses
		Final			and Other				and Other		Other
(in thousands)		Settlement	Notional		Current		Other		Current		Liabilities,
Derivatives designated as hedging instruments	Hedge Type	Date	Amount		Assets		Assets		Liabilities		Non-current
Foreign currency contracts - sell Euro	Cash flow	2/2017	€	27,000	$	1,066	$	-	$	-	$	-
Foreign currency contracts - sell Canadian Dollars	Cash flow	6/2017	$	28,000		-		-		495		7
Foreign currency contracts - sell Pounds	Cash flow	2/2017	£	3,450		94		-		-		-
Foreign currency contracts - sell Australian Dollars	Cash flow	8/2016	$	1,650		6		-		-		-
Subtotal						1,166		-		495		7

Derivatives not designated under hedge accounting
Foreign currency contracts - cross-currency debt swap	(1)	1/2018	$	5,000		-		206		-		-
Total fair value					$	1,166	$	206	$	495	$	7

Schedule of pre-tax effect of derivative instruments


	Fiscal Years Ended the Last Day of February,
	Gain / (Loss)				Gain / (Loss) Reclassified from
	Recognized in OCI				Accumulated Other Comprehensive					Gain / (Loss) Recognized
	(effective portion)				Income (Loss) into Income					As Income
(in thousands)	2017		2016		Location	2017		2016		Location	2017		2016
Currency contracts - cash flow hedges	$	2,205	$	1,978	SG&A	$	1,454	$	1,203		$	-	$	-
Interest rate swaps - cash flow hedges		-		-	Interest expense		-		-			-		-
Cross-currency debt swaps - principal		-		-			-		-	SG&A		499		206
Cross-currency debt swaps - interest		-		-			-		-	Interest Expense		90		11
Total	$	2,205	$	1,978		$	1,454	$	1,203		$	589	$	217

Schedule of cash and cash equivalents


	February 28, 2017			February 29, 2016
	Carrying		Range of	Carrying		Range of
(in thousands)	Amount		Interest Rates	Amount		Interest Rates
Cash, interest and non-interest-bearing accounts	$	20,376	0.00 to 0.35%	$	13,836	0.00 to 0.50%
Money market funds		2,711	0.18 to 0.19%		211,964	0.11 to 0.19%
Total cash and cash equivalents	$	23,087		$	225,800