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Long-Term Debt (Tables)

9 Months Ended

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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