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Property and Equipment

12 Months Ended

Feb. 28, 2018

Property and Equipment

Property and Equipment

Note 5 – Property and Equipment

A summary of property and equipment is as follows:

PROPERTY AND EQUIPMENT

		Estimated
		Useful Lives				February 28,			February 28,
(in thousands)		(Years)				2018			2017
Land			-			$	12,800		$	12,800
Building and improvements		3	-	40			106,870			106,648
Computer, furniture and other equipment		3	-	15			79,657			72,444
Tools, molds and other production equipment		1	-	10			33,466			31,157
Construction in progress			-				5,912			5,606
Property and equipment, gross							238,705			228,655
Less accumulated depreciation							(115,202)			(102,153)
Property and equipment, net						$	123,503		$	126,502

We recorded $14.9, $14.2  and $13.4 million of depreciation expense including $3.7, $4.6  and $4.3 million in cost of goods sold and $11.2,    $9.6  and $9.1 million in SG&A in the consolidated statements of income for fiscal 2018, 2017 and 2016, respectively.

We lease certain facilities, equipment, and vehicles under operating leases, which expire at various dates through fiscal 2033.  Certain of the leases contain escalation clauses and renewal or purchase options in addition to rent abatement amounts.  Rent expense related to our operating leases was $5.5,  $5.3, and $5.1 million for fiscal 2018, 2017 and 2016, respectively.  

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.13-14)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2921-110230

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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