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Financial Instruments and Risk Management (Tables)

12 Months Ended

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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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

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-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 4A
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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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