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v3.23.3

Restructuring Plan (Tables) | 6 Months Ended
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Aug. 31, 2023
Restructuring and Related Activities [Abstract] |
Summary of restructuring charges recorded | The following tables summarize restructuring charges recorded as a result of Project Pegasus for the periods presented:
| Three Months Ended August 31, 2023
(in thousands) | Home & Outdoor |  |  |  |  |  | Beauty & Wellness |  | Total
Severance and employee related costs | $ | 87 |  |  |  |  |  |  | $ | 501 |  |  | $ | 588 |
Professional fees | 1,182 |  |  |  |  |  |  | 1,719 |  |  | 2,901 |
Contract termination | — |  |  |  |  |  |  | 108 |  |  | 108 |
Other | 2 |  |  |  |  |  |  | 18 |  |  | 20 |
Total restructuring charges | $ | 1,271 |  |  |  |  |  |  | $ | 2,346 |  |  | $ | 3,617 |
| Three Months Ended August 31, 2022
(in thousands) | Home & Outdoor |  |  |  |  |  | Beauty & Wellness |  | Total
Severance and employee related costs | $ | 472 |  |  |  |  |  |  | $ | 2,369 |  |  | $ | 2,841 |
Professional fees | — |  |  |  |  |  |  | 128 |  |  | 128 |
Contract termination | — |  |  |  |  |  |  | 1,500 |  |  | 1,500 |
Other | — |  |  |  |  |  |  | 307 |  |  | 307 |
Total restructuring charges | $ | 472 |  |  |  |  |  |  | $ | 4,304 |  |  | $ | 4,776 |
| Six Months Ended August 31, 2023 |  | Total Incurred Since Inception
(in thousands) | Home & Outdoor |  |  |  |  | Beauty & Wellness |  | Total |
Severance and employee related costs | $ | 571 |  |  |  |  |  | $ | 909 |  |  | $ | 1,480 |  |  | $ | 10,933 |
Professional fees | 3,451 |  |  |  |  |  | 5,076 |  |  | 8,527 |  |  | 25,276 |
Contract termination | — |  |  |  |  |  | 796 |  |  | 796 |  |  | 1,331 |
Other | 39 |  |  |  |  |  | 130 |  |  | 169 |  |  | 794 |
Total restructuring charges | $ | 4,061 |  |  |  |  |  | $ | 6,911 |  |  | $ | 10,972 |  |  | $ | 38,334 |
| Six Months Ended August 31, 2022 |  |
(in thousands) | Home & Outdoor |  |  |  |  | Beauty & Wellness |  | Total |
Severance and employee related costs | $ | 472 |  |  |  |  |  | $ | 2,371 |  |  | $ | 2,843 |  |  |
Professional fees | — |  |  |  |  |  | 128 |  |  | 128 |  |  |
Contract termination | — |  |  |  |  |  | 1,500 |  |  | 1,500 |  |  |
Other | — |  |  |  |  |  | 307 |  |  | 307 |  |  |
Total restructuring charges | $ | 472 |  |  |  |  |  | $ | 4,306 |  |  | $ | 4,778 |  |  |
Rollforward of restructuring reserve | The tables below present a rollforward of our accruals related to Project Pegasus, which are included in accounts payable and accrued expenses and other current liabilities:
(in thousands) | Balance at February 28, 2023 |  | Charges |  | Payments |  | Balance at August 31, 2023
Severance and employee related costs | $ | 3,173 |  |  | $ | 1,480 |  |  | $ | (3,422) |  |  | $ | 1,231 |
Professional fees | 3,201 |  |  | 8,527 |  |  | (10,635) |  |  | 1,093 |
Contract termination | 160 |  |  | 796 |  |  | (956) |  |  | — |
Other | 34 |  |  | 169 |  |  | (203) |  |  | — |
Total | $ | 6,568 |  |  | $ | 10,972 |  |  | $ | (15,216) |  |  | $ | 2,324 |
(in thousands) | Balance at February 28, 2022 |  | Charges |  | Payments |  | Balance at August 31, 2022
Severance and employee related costs | $ | — |  |  | $ | 2,843 |  |  | $ | (802) |  |  | $ | 2,041 |
Professional fees | — |  |  | 128 |  |  | (128) |  |  | — |
Contract termination | — |  |  | 1,500 |  |  | — |  |  | 1,500 |
Other | — |  |  | 307 |  |  | (307) |  |  | — |
Total | $ | — |  |  | $ | 4,778 |  |  | $ | (1,237) |  |  | $ | 3,541 |

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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