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Financial Instruments and Risk Management (Tables) | 12 Months Ended
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Feb. 28, 2018
Financial Instruments and Risk Management |
Schedule of fair values of derivative instruments |
|  | February 28, 2018
|  |  |  |  |  |  |  |  | Prepaid |  |  |  | Accrued |  |  |
|  |  |  |  |  |  |  |  | Expenses |  |  |  | Expenses |  |
|  |  |  | Final |  |  |  |  | and Other |  |  |  | and Other |  | Other
(in thousands) |  | Hedge |  | Settlement |  | Notional |  | Current |  | Other |  | Current |  | Liabilities,
Derivatives designated as hedging instruments |  | Type |  | Date |  | Amount |  | Assets |  | Assets |  | Liabilities |  | Non-current
Foreign currency contracts - sell Euro |  | Cash flow |  | 07/2019 |  | € | 38,000 |  | $ | - |  | $ | 102 |  | $ | 1,320 |  | $ | -
Foreign currency contracts - sell Canadian Dollars |  | Cash flow |  | 06/2019 |  | $ | 27,750 |  |  | 378 |  |  | 101 |  |  | - |  |  | -
Foreign currency contracts - sell Pounds |  | Cash flow |  | 04/2019 |  | £ | 19,500 |  |  | - |  |  | 56 |  |  | 513 |  |  | -
Foreign currency contracts - sell Mexican Pesos |  | Cash flow |  | 05/2018 |  | $ | 20,000 |  |  | 5 |  |  | - |  |  | - |  |  | -
Interest rate swap |  | Cash flow |  | 12/2021 |  | $ | 100,000 |  |  | 539 |  |  | 1,942 |  |  | - |  |  | -
Subtotal |  |  |  |  |  |  |  |  |  | 922 |  |  | 2,201 |  |  | 1,833 |  |  | -
Derivatives not designated under hedge accounting |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts - cross-currency debt swaps - Euro |  | (1) |  | 4/2020 |  | $ | 5,280 |  |  | - |  |  | - |  |  | - |  |  | 208
Foreign currency contracts - cross-currency debt swaps - Pound |  | (1) |  | 4/2020 |  | $ | 6,395 |  |  | - |  |  | - |  |  | - |  |  | 565
Subtotal |  |  |  |  |  |  |  |  |  | - |  |  | - |  |  | - |  |  | 773
Total fair value |  |  |  |  |  |  |  |  | $ | 922 |  | $ | 2,201 |  | $ | 1,833 |  | $ | 773
|  | February 28, 2017
|  |  |  |  |  |  |  |  | Prepaid |  |  |  | Accrued |  |  |
|  |  |  |  |  |  |  |  | Expenses |  |  |  | Expenses |  |
|  |  |  | Final |  |  |  |  | and Other |  |  |  | and Other |  | Other
|  | Hedge |  | Settlement |  | Notional |  | Current |  | Other |  | Current |  | Liabilities,
Derivatives designated as hedging instruments |  | 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, as applicable, for the notional amounts reported, creating an economic hedge against currency movements.
Schedule of pre-tax effect of derivative instruments |
|  | Fiscal Years Ended February 28,
|  | 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) |  | 2018 |  | 2017 |  | Location |  | 2018 |  | 2017 |  | Location |  | 2018 |  | 2017
Currency contracts - cash flow hedges |  | $ | 1,758 |  | $ | 2,205 |  | SG&A |  | $ | 4,364 |  | $ | 1,454 |  |  |  | $ | - |  | $ | -
Interest rate swaps - cash flow hedges |  |  | 2,481 |  |  | - |  | Interest expense |  |  | - |  |  | - |  | Interest expense |  |  | (54) |  |  | -
Cross-currency debt swaps - principal |  |  | - |  |  | - |  |  |  |  | - |  |  | - |  | SG&A |  |  | (1,479) |  |  | 499
Cross-currency debt swaps - interest |  |  | - |  |  | - |  |  |  |  | - |  |  | - |  | Interest Expense |  |  | 74 |  |  | 90
Total |  | $ | 4,239 |  | $ | 2,205 |  |  |  | $ | 4,364 |  | $ | 1,454 |  |  |  | $ | (1,459) |  | $ | 589
Schedule of cash and cash equivalents |
|  | February 28, 2018 |  | February 28, 2017
|  | Carrying |  | Range of |  | Carrying |  | Range of
(in thousands) |  | Amount |  | Interest Rates |  | Amount |  | Interest Rates
Cash, interest and non-interest-bearing accounts |  | $ | 19,631 |  | 0.00 to 0.35% |  | $ | 21,138 |  | 0.00 to 0.35%
Money market funds |  |  | 1,107 |  | 0.0 to 0.03% |  |  | 2,711 |  | 0.18 to 0.19%
Total cash and cash equivalents |  | $ | 20,738 |  |  |  | $ | 23,848 |  |

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