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Financial Instruments and Risk Management (Tables)

12 Months Ended

Feb. 28, 2019

Financial Instruments, Owned, at Fair Value [Abstract]

Schedule of fair values of derivative instruments

The following table summarizes the fair values of our various derivative instruments at the end of fiscal 2019 and 2018:

		February 28, 2019
(in thousands) Derivatives designated as hedging instruments		Hedge Type		Final Settlement Date		Notional Amount		Prepaid Expenses and Other Current Assets				Other Assets				Accrued Expenses and Other Current Liabilities				Other Liabilities Non-current
Zero-cost collar - Euro		Cash flow		2/2020		€9,500		$	11			$	—			$	—			$	—
Foreign currency contracts - sell Euro		Cash flow		2/2020		€29,000		1,047				—				—				—
Foreign currency contracts - sell Canadian Dollars		Cash flow		2/2020		$16,000		168				—				—				—
Zero-cost collar - Pounds		Cash flow		5/2020		£4,500		—				—				200				—
Foreign currency contracts - sell Pounds		Cash flow		5/2020		£19,500		248				—				—				13
Foreign currency contracts - sell Mexican Pesos		Cash flow		9/2019		$30,000		—				—				58				—
Interest rate swaps		Cash flow		1/2024		$225,000		512				—				—				339
Subtotal								1,986				—				258				352
Derivatives not designated under hedge accounting
Foreign currency contracts - cross-currency debt swaps - Euro		(1)		04/2020		€5,280		—				218				—				—
Foreign currency contracts - cross-currency debt swaps - Pound		(1)		04/2020		£6,395		—				—				—				292
Subtotal								—				218				—				292
Total fair value								$	1,986			$	218			$	258			$	644

		February 28, 2018
Derivatives designated as hedging instruments		Hedge Type		Final Settlement Date		Notional Amount		Prepaid Expenses and Other Current Assets				Other Assets				Accrued Expenses and Other Current Liabilities				Other Liabilities Non-current
Foreign currency contracts - sell Euro		Cash flow		7/2019		€38,000		$	—			$	102			$	1,320			$	—
Foreign currency contracts - sell Canadian Dollars		Cash flow		6/2019		$27,750		378				101				—				—
Foreign currency contracts - sell Pounds		Cash flow		4/2019		£19,500		—				56				513				—
Foreign currency contracts - sell Mexican Pesos		Cash flow		5/2018		$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 swap - Euro		(1)		04/2020		€5,280		—				—				—				208
Foreign currency contracts - cross-currency debt swaps - Pound		(1)		04/2020		£6,395		—				—				—				565
Subtotal								—				—				—				773
Total fair value								$	922			$	2,201			$	1,833			$	773

(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

The pre-tax effect of derivative instruments for fiscal 2019 and 2018 is as follows:

		Fiscal Years Ended February 28,
		Gain (Loss) Recognized in OCI (effective portion)								Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income										Gain (Loss) Recognized As Income
(in thousands)		2019				2018				Location		2019				2018				Location		2019				2018
Currency contracts - cash flow hedges		$	(94	)		$	1,758			SG&A		$	(2,488	)		$	4,364					$	—			$	—
Interest rate swaps - cash flow hedges		(2,308		)		2,481				Interest expense		—				—				Interest expense		515				(54		)
Cross-currency debt swaps - principal		—				—						—				—				SG&A		700				(1,479		)
Cross-currency debt swaps - interest		—				—						—				—				Interest Expense		147				74
Total		$	(2,402	)		$	4,239					$	(2,488	)		$	4,364					$	1,362			$	(1,459	)

Schedule of cash and cash equivalents

The following table summarizes our cash and cash equivalents at the end of fiscal 2019 and 2018:

	February 28, 2019					February 28, 2018
(in thousands)	Carrying Amount			Range of Interest Rates		Carrying Amount			Range of Interest Rates
Cash, interest and non-interest-bearing accounts	$	10,956		0.00 to 0.30%		$	19,631		0.00 to 0.35%
Money market funds	915			0.00 to 1.25%		1,107			0.00 to 0.03%
Total cash and cash equivalents	$	11,871				$	20,738

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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.

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-Name Accounting Standards Codification
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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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