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Assets and Liabilities Held for Sale | 6 Months Ended
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Aug. 31, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Assets and Liabilities Held for Sale | Note 3 - Assets and Liabilities Held for Sale During the fourth quarter of fiscal 2020, we committed to a plan to divest certain assets within our Personal Care business and accordingly, we classified the identified net assets of the disposal group as held for sale. On June 7, 2021, we completed the sale of our Personal Care business, not including the Latin America and Caribbean regions, to HRB Brands LLC, for $44.7 million in cash. The net assets sold included intangible assets, inventory, certain net trade receivables, fixed assets and certain accrued sales discounts and allowances relating to our North America Personal Care business. During the second quarter of fiscal 2022, we recognized a gain on the sale totaling $0.5 million, which has been recognized in SG&A within our condensed consolidated statement of income. The transaction also includes an option that provides HRB Brands LLC the right to purchase the Latin America and Caribbean Personal Care businesses no later than the end of fiscal 2022, subject to meeting certain agreed-upon conditions. Accordingly, we have continued to classify the identified net assets of the Latin America and Caribbean Personal Care businesses as held for sale. The carrying amounts of the major classes of assets and liabilities for our Latin America and Caribbean Personal Care business that were classified as held for sale are as follows:
(in thousands) | August 31, 2021 |  | February 28, 2021
Receivables, net of allowance of $34 and $30 | $ | 1,404 |  |  | $ | 7,979 |
Inventory | 485 |  |  | 12,667 |
Property and equipment, net of accumulated depreciation of $152 and $403 | 66 |  |  | 100 |
Goodwill (1) | — |  |  | 1,397 |
Other intangible assets (1) | — |  |  | 17,724 |
Assets held for sale | $ | 1,955 |  |  | $ | 39,867 |
Accrued sales discounts and allowances | $ | 159 |  |  | $ | — |
Liabilities held for sale | $ | 159 |  |  | $ | — |
(1)Goodwill and other intangible assets as of February 28, 2021 are presented net of accumulated impairment and accumulated amortization of $80,445 and $4,474, respectively.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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