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Share-Based Compensation Plans (Tables)

12 Months Ended

Feb. 28, 2018

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														(1,160,556)
Less restricted share awards previously vested and settled														(638,565)
Subtotal														1,950,879
Less maximum RSUs issuable upon vesting (1)														(136,253)
Less maximum PSUs issuable upon vesting (1)														(348,126)
Shares available for issuance														1,466,500

(1) RSUs and PSUs potentially issuable are estimated assuming the maximum payouts adjusted for actual forfeitures to date.

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		$	1,384		16.9
Restricted stock units (RSUs and PSUs)			12,220		23.8

Schedule of share-based compensation expense in S G and A

SHARE-BASED PAYMENT EXPENSE

		Fiscal Years Ended the Last Day of February,
(in thousands, except per share data)		2018			2017			2016
Stock options		$	1,634		$	2,614		$	2,863
Directors stock compensation			750			700			700
Performance based and other stock awards			12,631			10,243			3,235
Employee stock purchase plan			264			490			552
Share-based compensation expense			15,279			14,047			7,350
Less income tax benefits			(1,669)			(1,762)			(753)
Share-based compensation expense, net of income tax benefits		$	13,610		$	12,285		$	6,597
Continuing operations earnings per share impact of share-based compensation expense:
Basic		$	0.50		$	0.45		$	0.23
Diluted		$	0.50		$	0.44		$	0.23

Schedule of assumptions used for fair value of stock option grants

		Fiscal Years Ended the Last Day of February,
		2017		2016
Range of risk free interest rates used		1.2%		0.9% - 1.5%
Expected dividend rate		-%		-%
Weighted average volatility rate		33.4%		39.1%
Range of expected volatility rates used		33.4%		35.9% - 39.7%
Range of expected terms used (in years)		4.1		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, 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
Grants		-			-			-
Exercises		(126)			52.28									5,400
Forfeitures / expirations		(22)			72.37
Outstanding at February 28, 2018		300		$	58.35		$	32.04			4.3		$	9,606
Exercisable at February 28, 2018		175		$	49.18		$	41.11			3.9		$	7,198

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, 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
Grants					-			-
Vested or forfeited					(155)			25.02
Outstanding at February 28, 2018					125		$	19.31

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, 2015 (1)					118			58.35			9,041
Granted (1)					95			76.62
Vested (2)					-			-
Outstanding at February 29, 2016					213			66.50			20,311
Granted (1)					162			96.90
Vested (2)					(53)			70.14
Outstanding at February 28, 2017					322		$	81.19		$	31,418
Granted (1)					262			96.44
Vested or forfeited (2)					(274)			78.71
Outstanding at February 28, 2018					310		$	90.05		$	27,944

⁽¹⁾ Includes target level RSUs and PSUs granted to our current CEO and members of management in connection with long-term incentive compensation for fiscal 2018, 2017 and 2016.

Includes 192,002 and 15,643 RSUs which vested and settled throughout the year at an weighted average fair values of $62.88 and $60.28 per share for fiscal 2018 and 2017, respectively.  There were no RSUs vested or settled in fiscal 2016.

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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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-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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