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Financial Instruments and Risk Management (Tables) | 12 Months Ended
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Feb. 29, 2020
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 2020 and 2019:
|  | February 29, 2020
(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 |  | 2/2021 |  | €8,000 |  | $ | 74 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Foreign currency contracts - sell Euro |  | Cash flow |  | 5/2021 |  | €25,875 |  | 837 |  |  | — |  |  | — |  |  | 15 |
Foreign currency contracts - sell Canadian Dollars |  | Cash flow |  | 2/2021 |  | $14,000 |  | 202 |  |  | — |  |  | — |  |  | — |
Zero-cost collar - Pounds |  | Cash flow |  | 2/2021 |  | £6,500 |  | — |  |  | — |  |  | 144 |  |  | — |
Foreign currency contracts - sell Pounds |  | Cash flow |  | 5/2021 |  | £13,000 |  | 435 |  |  | 23 |  |  | — |  |  | — |
Foreign currency contracts - sell Mexican Pesos |  | Cash flow |  | 5/2020 |  | $10,000 |  | 12 |  |  | — |  |  | — |  |  | — |
Interest rate swaps |  | Cash flow |  | 1/2024 |  | $225,000 |  | — |  |  | — |  |  | 3,489 |  |  | 7,228 |
Subtotal |  |  |  |  |  |  |  | 1,560 |  |  | 23 |  |  | 3,633 |  |  | 7,243 |
Derivatives not designated under hedge accounting |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts - cross-currency debt swaps - Euro |  | (1) |  | 04/2020 |  | €5,280 |  | 473 |  |  | — |  |  | — |  |  | — |
Foreign currency contracts - cross-currency debt swaps - Pound |  | (1) |  | 04/2020 |  | £6,395 |  | 27 |  |  | — |  |  | — |  |  | — |
Subtotal |  |  |  |  |  |  |  | 500 |  |  | — |  |  | — |  |  | — |
Total fair value |  |  |  |  |  |  |  | $ | 2,060 |  |  | $ | 23 |  |  | $ | 3,633 |  |  | $ | 7,243 |
|  | 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 swap - 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 |
(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 2020 and 2019 is as follows:
|  | Years Ended Last Day of February,
|  | 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) |  | 2020 |  | 2019 |  | Location |  | 2020 |  | 2019 |  | Location |  | 2020 |  | 2019
Currency contracts - cash flow hedges |  | $ | (2,756 | ) |  | $ | (94 | ) |  | SG&A |  | $ | (2,977 | ) |  | $ | (2,488 | ) |  |  |  | $ | — |  |  | $ | — |
Interest rate swaps - cash flow hedges |  | (10,890 | ) |  | (2,308 | ) |  | Interest expense |  | — |  |  | — |  |  | Interest expense |  | (262 | ) |  | 515 |
Cross-currency debt swaps - principal |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | SG&A |  | 574 |  |  | 700 |
Cross-currency debt swaps - interest |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | Interest Expense |  | 147 |  |  | 147 |
Total |  | $ | (13,646 | ) |  | $ | (2,402 | ) |  |  |  | $ | (2,977 | ) |  | $ | (2,488 | ) |  |  |  | $ | 459 |  |  | $ | 1,362 |
Schedule of cash and cash equivalents | The following table summarizes our cash and cash equivalents at the end of fiscal 2020 and 2019:
| Fiscal Years Ended Last Day of February
| 2020 |  | 2019
(in thousands) | Carrying Amount | Range of Interest Rates |  | Carrying Amount | Range of Interest Rates
Cash, interest and non-interest-bearing accounts | $ | 21,819 |  | 0.00 to 0.30% |  | $ | 10,956 |  | 0.00 to 0.30%
Money market funds | 2,648 |  | 0.15% to 5.39% |  | 915 |  | 0.00 to 1.25%
Total cash and cash equivalents | $ | 24,467 |  |  |  | $ | 11,871 |  |

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