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Long-Term Debt (Tables) | 12 Months Ended
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Feb. 28, 2026
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | A summary of our long-term debt follows:
(in thousands) | February 28, 2026 |  | February 28, 2025
Amended Credit Agreement: |  |  |
Revolving loans | $ | 308,200 |  |  | $ | 678,100 |
Term loans | 477,344 |  |  | 243,750 |
Total borrowings under Amended Credit Agreement | 785,544 |  |  | 921,850 |
Unamortized prepaid financing fees | (4,733) |  |  | (4,956) |
Total long-term debt | 780,811 |  |  | 916,894 |
Less: current maturities of long-term debt | (25,000) |  |  | (9,375) |
Long-term debt, excluding current maturities | $ | 755,811 |  |  | $ | 907,519 |
Schedule of Aggregate Annual Maturities of Long-term Debt | Aggregate annual maturities of our long-term debt as of February 28, 2026 were as follows:
(in thousands) |
Fiscal 2027 | $ | 25,000 |
Fiscal 2028 | 25,000 |
Fiscal 2029 | 735,544 |
Fiscal 2030 | — |
Fiscal 2031 | — |
Thereafter | — |
Total | $ | 785,544 |
Schedule of Interest Rates On Credit Agreement | The following table contains information about interest rates and the related weighted average borrowings outstanding under our Amended Credit Agreement, including under the prior credit agreement, for the periods presented below:
| Fiscal Years Ended Last Day of February,
(in thousands) | 2026 |  | 2025 |  | 2024
Amended Credit Agreement: |  |  |  |  |
Average borrowings outstanding (1) | $ | 876,070 |  | $ | 761,245 |  | $ | 806,415
Average effective interest rate (2) | 6.3% |  | 6.6% |  | 6.4%
Interest rate range (3) | 5.9% - 8.5% |  | 5.9% - 9.3% |  | 6.5% - 9.3%
Weighted average interest rate on borrowings outstanding at year end (4) | 5.7% |  | 5.6% |  | 6.0%
(1)Average borrowings outstanding is computed as the average of the current and four prior quarters ending balances outstanding. (2)The average effective interest rate during each year is computed by dividing the total interest expense associated with the borrowing for a fiscal year by the average borrowings outstanding for the same fiscal year. We included the impact of our interest rate swaps and commitment fees incurred under the Amended Credit Agreement and prior credit agreement in computing total interest expense. (3)Interest rate range reflects the interest rates on the borrowings under the Amended Credit Agreement and prior credit agreement, pursuant to the respective agreements, and excludes the impact of our interest rate swaps. (4)The weighted average interest rate on borrowings outstanding at year end under the Amended Credit Agreement is computed inclusive of the impact of our interest rate swaps.
Schedule of debt, restrictive covenants | Amends the maximum Leverage Ratio financial covenant so that it is not permitted to be greater than as set forth below as of the end of the fiscal quarter:
Fiscal Quarter Ending | Maximum Leverage Ratio
November 30, 2025 | 4.50 to 1.00
February 28, 2026 through August 31, 2026 | 4.50 to 1.00
November 30, 2026 | 4.00 to 1.00
February 28, 2027 through May 31, 2027 | 3.75 to 1.00
August 31, 2027 and each fiscal quarter thereafter | 3.50 to 1.00

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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