XML 44 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1

Financial Instruments and Risk Management (Tables)

9 Months Ended

Nov. 30, 2017

Financial Instruments and Risk Management

Schedule of fair values of derivative instruments

FAIR VALUES OF DERIVATIVE INSTRUMENTS

		November 30, 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		12/2018		€	32,250		$	-		$	2		$	1,381		$	-
Foreign currency contracts - sell Canadian Dollars		Cash flow		12/2018		$	27,750			252			16			-			-
Foreign currency contracts - sell Pounds		Cash flow		01/2019		£	20,400			-			-			765			32
Foreign currency contracts - sell Mexican Pesos		Cash flow		05/2018		$	45,000			-			-			159			-
Interest rate swap		Cash flow		12/2021		$	100,000			134			619			-			-
Subtotal										386			637			2,305			32
Derivatives not designated under hedge accounting
Foreign currency contracts - cross-currency debt swaps - Euro		(1)		4/2020		$	5,280			-			-			-			65
Foreign currency contracts - cross-currency debt swaps - Pound		(1)		4/2020		$	6,395			-			-			-			413
Subtotal										-			-			-			478
Total fair value									$	386		$	637		$	2,305		$	510

		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, as applicable, 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 November 30,
		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		$	2,928		$	2,049		SG&A		$	1,328		$	522				$	-		$	-
Interest rate swaps - cash flow hedges			753			-		Interest expense			-			-		Interest expense			(48)			-
Cross-currency debt swaps - principal			-			-					-			-		SG&A			(419)			493
Cross-currency debt swaps - interest			-			-					-			-		Interest Expense			74			-
Total		$	3,681		$	2,049				$	1,328		$	522				$	(393)		$	493
		Nine Months Ended November 30,
		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		$	(1,275)		$	2,319		SG&A		$	2,208		$	505				$	-		$	-
Interest rate swaps - cash flow hedges			753			-		Interest expense			-			-		Interest expense			(48)			-
Cross-currency debt swaps - principal			-			-					-			-		SG&A			(1,183)			528
Cross-currency debt swaps - interest			-			-					-			-		Interest Expense			74			35
Total		$	(522)		$	2,319				$	2,208		$	505				$	(1,157)		$	563

X

- References

No definition available.

+ Details

Name:	us-gaap_FinancialInstrumentsOwnedAtFairValueAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration