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Acquisitions (Tables)
 9 Months Ended
Nov. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of business acquisitions, by acquisition
The following table presents the preliminary estimated fair values of assets acquired and liabilities assumed at the acquisition date:
 (in thousands)
Assets: 
Receivables$4,211 
Inventory7,890 
Prepaid expenses and other current assets119 
Property and equipment212 
Goodwill116,844 
Trade names - definite21,000 
Customer relationships - definite12,000 
Deferred tax assets, net360 
Total assets162,636 
Liabilities:
Accounts payable1,401 
Accrued expenses and other current liabilities2,583 
Income taxes payable2,538 
Deferred tax liabilities, net8,187 
Total liabilities14,709 
Net assets recorded$147,927 
The following table presents the preliminary estimated fair values of assets acquired and liabilities assumed at the acquisition date:
 (in thousands)
Assets: 
Receivables$11,758 
Inventory30,001 
Prepaid expenses and other current assets3,699 
Income taxes receivable4,169 
Property and equipment11,576 
Goodwill206,564 
Trade names - indefinite170,000 
Customer relationships - definite22,000 
Operating lease assets2,155 
Total assets461,922 
Liabilities:
Accounts payable3,780 
Accrued expenses and other current liabilities7,334 
Lease liabilities, non-current 1,719 
Deferred tax liabilities, net39,794 
Total liabilities52,627 
Net assets recorded$409,295 
Business acquisition, pro forma information
The impact of the acquisition of Curlsmith on our condensed consolidated statements of income for the periods presented was as follows:


(in thousands, except earnings per share data)		Three Months Ended November 30, 2022Nine Months Ended
November 30, 2022 (1)
Sales revenue, net$13,091 $26,544 
Net income2,077 3,953 
EPS:
Basic$0.09 $0.17 
Diluted$0.09 $0.16 
(1)Represents approximately thirty-two weeks of operating results from Curlsmith, acquired on April 22, 2022.

The following supplemental unaudited pro forma information presents our financial results as if the acquisition of Curlsmith had occurred on March 1, 2021. This supplemental pro forma information has been prepared for comparative purposes and would not necessarily indicate what may have occurred if the acquisition had been completed on March 1, 2021, and this information is not intended to be indicative of future results.

Three Months Ended November 30,Nine Months Ended November 30,
(in thousands, except earnings per share data)2022202120222021
Sales revenue, net$558,606 $635,476 $1,595,176 $1,669,919 
Net income51,826 77,586 109,006 184,846 
EPS:
Basic$2.16 $3.22 $4.55 $7.64 
Diluted$2.15 $3.18 $4.53 $7.56