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Financial Instruments and Risk Management (Tables) | 3 Months Ended
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May 31, 2017
Financial Instruments and Risk Management |
Schedule of fair values of derivative instruments | FAIR VALUES OF DERIVATIVE INSTRUMENTS
|  | May 31, 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 |  | 5/2018 |  | € | 29,750 |  | $ | - |  | $ | - |  | $ | 995 |  | $ | -
Foreign currency contracts - sell Canadian Dollars |  | Cash flow |  | 6/2018 |  | $ | 20,750 |  |  | 425 |  |  | 15 |  |  | - |  |  | -
Foreign currency contracts - sell Pounds |  | Cash flow |  | 2/2018 |  | £ | 15,250 |  |  | - |  |  | - |  |  | 292 |  |  | -
Foreign currency contracts - sell Mexican Pesos |  | Cash flow |  | 2/2018 |  | $ | 50,000 |  |  | - |  |  | - |  |  | 285 |  |  | -
Subtotal |  |  |  |  |  |  |  |  |  | 425 |  |  | 15 |  |  | 1,572 |  |  | -
Derivatives not designated under hedge accounting |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts - cross-currency debt swaps - Euro |  | (1) |  | 4/2020 |  | $ | 5,280 |  |  | - |  |  | 276 |  |  | - |  |  | -
Foreign currency contracts - cross-currency debt swaps - Pound |  | (1) |  | 4/2020 |  | $ | 6,395 |  |  | - |  |  | - |  |  | - |  |  | 120
Subtotal |  |  |  |  |  |  |  |  |  | - |  |  | 276 |  |  | - |  |  | 120
Total fair value |  |  |  |  |  |  |  |  | $ | 425 |  | $ | 291 |  | $ | 1,572 |  | $ | 120
|  | February 28, 2017
|  |  |  |  |  |  |  |  | Prepaid |  |  |  | Accrued |  |  |
|  |  |  |  |  |  |  |  | Expenses |  |  |  | Expenses |  |
|  |  |  | Final |  |  |  |  | and Other |  |  |  | and Other |  | Other
|  |  |  | 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 swap - Euro |  | (1) |  | 1/2018 |  | $ | 10,000 |  |  | 705 |  |  | - |  |  | - |  |  | -
Total fair value |  |  |  |  |  |  |  |  | $ | 2,135 |  | $ | 32 |  | $ | 47 |  | $ | -
| (1) |  | These are foreign currency contracts for which we have not elected hedge accounting. We refer to them as “cross-currency debt swaps”. They in effect adjust the currency denomination of a portion of our outstanding debt to the Euro and British Pound for the notional amounts reported, creating an economic hedge against currency movements.
Schedule of pre-tax effect of derivative instruments | PRE-TAX EFFECT OF DERIVATIVE INSTRUMENTS
|  | Three Months Ended May 31,
|  | 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 |  | $ | (2,245) |  | $ | (1,019) |  | SG&A |  | $ | 302 |  | $ | (158) |  |  |  | $ | - |  | $ | -
Cross-currency debt swaps - principal |  |  | - |  |  | - |  |  |  |  | - |  |  | - |  | SG&A |  |  | (549) |  |  | 52
Total |  | $ | (2,245) |  | $ | (1,019) |  |  |  | $ | 302 |  | $ | (158) |  |  |  | $ | (549) |  | $ | 52

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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 4C -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959 Reference 2: 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=64837297&loc=SL5618551-113959 + Details
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