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Long-Term Debt (Tables) | 9 Months Ended
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Nov. 30, 2022
Debt Disclosure [Abstract] |
Summary of long-term debt | A summary of our long-term debt follows:
(in thousands) | November 30, 2022 |  | February 28, 2022
Mississippi Business Finance Corporation Loan (the “MBFC Loan”) (1) | $ | 14,807 |  |  | $ | 16,707 |
Credit Agreement (1): |  |  |
Revolving loans | 820,000 |  |  | 799,500 |
Term loans | 248,438 |  |  | — |
Total borrowings under Credit Agreement | 1,068,438 |  |  | 799,500 |
Subtotal | 1,083,245 |  |  | 816,207 |
Unamortized prepaid financing fees | (2,785) |  |  | (2,991) |
Total long-term debt | 1,080,460 |  |  | 813,216 |
Less: current maturities of long-term debt | (20,872) |  |  | (1,884) |
Long-term debt, excluding current maturities | $ | 1,059,588 |  |  | $ | 811,332 |
(1)The weighted average interest rates on borrowings outstanding under the MBFC Loan and Credit Agreement as of November 30, 2022 were 5.4% and 5.9%, respectively, compared to 1.2% for both as of February 28, 2022.
Schedule of maturities of long-term debt | Aggregate annual maturities of our long-term debt as of November 30, 2022 are as follows:
(in thousands) |
Fiscal 2023 (balance for remainder of fiscal year) | $ | 1,563 |
Fiscal 2024 | 21,057 |
Fiscal 2025 | 6,250 |
Fiscal 2026 | 1,054,375 |
Fiscal 2027 | — |
Thereafter | — |
Total | $ | 1,083,245 |

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