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Property and Equipment and Assets Held for Sale | 12 Months Ended
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Feb. 28, 2026
Property, Plant and Equipment [Abstract] |
Property and Equipment and Assets Held for Sale | Note 4 - Property and Equipment and Assets Held for Sale Property and Equipment A summary of property and equipment was as follows:
(in thousands) | Estimated Useful Lives (Years) |  | February 28, 2026 |  | February 28, 2025
Land |  | — |  |  | $ | 13,716 |  |  | $ | 16,689 |
Building and leasehold improvements | 3 | — | 40 |  | 211,781 |  |  | 240,578 |
Software, computer, furniture and other equipment | 3 | — | 20 |  | 171,852 |  |  | 179,116 |
Tooling, molds and other production equipment | 3 | — | 7 |  | 88,053 |  |  | 87,437 |
Construction in progress |  | — |  |  | 16,241 |  |  | 6,385 |
Property and equipment, gross |  |  |  |  | 501,643 |  |  | 530,205 |
Less: accumulated depreciation |  |  |  |  | (193,622) |  |  | (200,176) |
Property and equipment, net |  |  |  |  | $ | 308,021 |  |  | $ | 330,029 |
We recorded $36.2 million, $36.2 million and $33.2 million of depreciation expense including $10.2 million, $11.9 million and $12.6 million in cost of goods sold and $26.0 million, $24.3 million and $20.6 million in SG&A in the consolidated statements of (loss) income for fiscal 2026, 2025 and 2024, respectively. On September 28, 2023, we completed the sale of our distribution and office facilities in El Paso, Texas, for a sales price of $50.6 million, less transaction costs of $1.1 million. Concurrently, we entered into an agreement to leaseback the office facilities for a period of up to 18 months substantially rent free, which we estimated to have a fair value of approximately $1.9 million. The transaction qualified for sales recognition under the sale leaseback accounting requirements. Accordingly, we increased the sales price by the $1.9 million of prepaid rent and recognized a gain on the sale of $34.2 million within SG&A during fiscal 2024, of which $18.0 million and $16.2 million was recognized by our Beauty & Wellness and Home & Outdoor segments, respectively. We used the proceeds from the sale to repay amounts outstanding under our long-term debt agreement. Assets Held for Sale We record assets held for sale in accordance with ASC 360 “Property, Plant, and Equipment,” and present them as single asset amounts in our consolidated financial statements. Assets held for sale consist of assets that we expect to sell within the next year. The assets are reported at the lower of carrying amount or fair value less costs to sell. We cease recording depreciation on assets that are classified as held for sale. If the determination is made that we no longer expect to sell an asset within the next year, the asset is reclassified out of held for sale. We review assets held for sale each reporting period to determine whether the existing carrying amounts are fully recoverable in comparison to estimated fair values less costs to sell. On February 27, 2026, we entered into an agreement to sell our distribution facility in Southaven, Mississippi, which provides for closing subsequent to a due diligence period. Accordingly, we classified the associated property and equipment totaling $23.1 million, net of accumulated depreciation of $29.9 million, as held for sale as of February 28, 2026. Subsequent to fiscal 2026, on April 14, 2026, we completed the sale of our distribution facility in Southaven, Mississippi for a total sales price of $82.0 million, less costs to sell of $3.8 million. Accordingly, we recognized a gain on the sale of $54.9 million within SG&A during the first quarter of fiscal 2027, which was recognized by our Beauty & Wellness segment. The final related property and equipment totaling $23.3 million, net of accumulated depreciation of $29.4 million, was derecognized from the consolidated balance sheet. We used the proceeds from the sale to repay amounts outstanding under our credit facility.

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