XML 90 R43.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Financial Instruments and Risk Management (Tables) | 12 Months Ended
--- | ---
Feb. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of fair values of derivative instruments | The following tables summarize the fair values of our derivative instruments at the end of fiscal 2024 and 2023:
(in thousands) | February 29, 2024
Derivatives designated as hedging instruments | Hedge Type |  | Final Settlement Date |  | Notional Amount |  | Prepaid Expenses and Other Current Assets |  | Other Assets |  | Accrued Expenses and Other Current Liabilities |  | Other Liabilities Non-current
Forward contracts - sell Euro | Cash flow |  | 2/2025 |  | €36,500 |  | $ | 377 |  |  | $ | — |  |  | $ | 90 |  |  | $ | — |
Forward contracts - sell Canadian Dollars | Cash flow |  | 2/2025 |  | $20,750 |  | 151 |  |  | — |  |  | 57 |  |  | — |
Forward contracts - sell Pounds | Cash flow |  | 2/2025 |  | £20,250 |  | 59 |  |  | — |  |  | 234 |  |  | — |
Forward contracts - sell Norwegian Kroner | Cash flow |  | 8/2024 |  | kr | 5,000 |  |  | 5 |  |  | — |  |  | — |  |  | — |
Interest rate swaps | Cash flow |  | 2/2026 |  | $500,000 |  | 1,314 |  |  | 1,190 |  |  | — |  |  | — |
Subtotal |  |  |  |  |  |  | 1,906 |  |  | 1,190 |  |  | 381 |  |  | — |
Derivatives not designated under hedge accounting |  |  |  |  |  |  |  |  |  |  |  |  |
Forward contracts - sell Euro | (1) |  | 3/2024 |  | €430 |  | — |  |  | — |  |  | 3 |  |  | — |
Forward contracts - sell Pounds | (1) |  | 3/2024 |  | £735 |  | — |  |  | — |  |  | 2 |  |  | — |
Subtotal |  |  |  |  |  |  | — |  |  | — |  |  | 5 |  |  | — |
Total fair value |  |  |  |  |  |  | $ | 1,906 |  |  | $ | 1,190 |  |  | $ | 386 |  |  | $ | — |
(in thousands) | February 28, 2023
Derivatives designated as hedging instruments | Hedge Type |  | Final Settlement Date |  | Notional Amount |  | Prepaid Expenses and Other Current Assets |  | Other Assets |  | Accrued Expenses and Other Current Liabilities |  | Other Liabilities Non-current
Forward contracts - sell Euro | Cash flow |  | 2/2024 |  | €29,310 |  | $ | 257 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Forward contracts - sell Canadian Dollars | Cash flow |  | 2/2024 |  | $30,000 |  | 962 |  |  | 11 |  |  | — |  |  | — |
Forward contracts - sell Pounds | Cash flow |  | 1/2024 |  | £19,400 |  | — |  |  | — |  |  | 711 |  |  | — |
Forward contracts - sell Norwegian Kroner | Cash flow |  | 2/2024 |  | kr | 40,000 |  |  | 185 |  |  | — |  |  | — |  |  | — |
Interest rate swaps | Cash flow |  | 2/2026 |  | $425,000 |  | 3,941 |  |  | 1,805 |  |  | — |  |  | — |
Subtotal |  |  |  |  |  |  | 5,345 |  |  | 1,816 |  |  | 711 |  |  | — |
Derivatives not designated under hedge accounting |  |  |  |  |  |  |  |  |  |  |  |  |
Forward contracts - buy Euro | (1) |  | 3/2023 |  | €500 |  | 6 |  |  | — |  |  | — |  |  | — |
Forward contracts - buy Pounds | (1) |  | 3/2023 |  | £400 |  | 2 |  |  | — |  |  | — |  |  | — |
Subtotal |  |  |  |  |  |  | 8 |  |  | — |  |  | — |  |  | — |
Total fair value |  |  |  |  |  |  | $ | 5,353 |  |  | $ | 1,816 |  |  | $ | 711 |  |  | $ | — |
(1)These forward contracts, for which we have not elected hedge accounting, hedge monetary net asset and liability positions for the notional amounts reported, creating an economic hedge against currency movements.
Schedule of pre-tax effect of derivative instruments | The pre-tax effects of derivative instruments designated as cash flow hedges for fiscal 2024 and 2023 were as follows:
| Fiscal Years Ended Last Day of February,
| Gain (Loss) Recognized in AOCI | Gain (Loss) Reclassified from AOCI into Income
(in thousands) | 2024 |  |  |  | 2023 |  | Location |  | 2024 |  | 2023 |  |
Foreign currency contracts - cash flow hedges | $ | (502) |  |  |  |  | $ | 8,289 |  |  | Sales revenue, net |  | $ | (9) |  |  | $ | 10,390 |  |  |
Interest rate swaps - cash flow hedges | 4,373 |  |  |  |  | 8,382 |  |  | Interest expense |  | 7,615 |  |  | (145) |  |  |
Total | $ | 3,871 |  |  |  |  | $ | 16,671 |  |  |  |  | $ | 7,606 |  |  | $ | 10,245 |  |  |
The pre-tax effects of derivative instruments not designated under hedge accounting for fiscal 2024 and 2023 were as follows:
|  | Fiscal Years Ended Last Day of February,
|  | Gain (Loss) Recognized in Income
(in thousands) |  | Location |  | 2024 |  | 2023
Forward contracts |  | SG&A |  | $ | (280) |  |  | $ | (281) |
Cross-currency debt swaps - principal |  | SG&A |  | — |  |  | 875 |
Total |  |  |  | $ | (280) |  |  | $ | 594 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration