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Covid-19 Pandemic | 9 Months Ended
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Nov. 30, 2021
Extraordinary And Unusual Items [Abstract] |
Covid-19 Pandemic | 16. COVID-19 Pandemic On March 11, 2020, the World Health Organization declared the ongoing COVID-19 outbreak to be a global pandemic. In response to the rapid spread of COVID-19 within the United States, federal, state and local governments have imposed varying degrees of restrictions on social and commercial activity to promote social distancing in an effort to slow the spread of the illness. Due to the Company’s involvement in healthcare, government, food and beverage and banking, the Company’s plants have been deemed “essential” and, as such, the Company has continued to operate most of its manufacturing facilities. Due to reduced demand for our products during the pandemic, particularly in our transactional forms, the Company reduced its workforce by approximately 350 employees, ceased operating in two of its owned under-utilized facilities and exited two facilities with expiring leases during fiscal year end February 2021. During the period end November 2021, three additional facilities (one owned and two with expiring leases) were consolidated and transitioned to other existing facilities. The Company believes the cost cutting measures it has previously implemented will not materially impact its ability to service the increased customer demand as economic conditions continue to improve. While economic activity has picked up significantly, we cannot reasonably estimate the extent to which our business will continue to be affected by the COVID-19 pandemic and to what extent the recent improved trends will continue. The ultimate impacts of the COVID-19 pandemic on our businesses will depend on future developments, including the availability of labor, global supply chain disruptions, the variants of COVID-19, and the global availability and use of vaccines, which are highly uncertain and cannot be predicted. The Company will continue to monitor projected sales and proactively adjust costs as necessary depending on the impact of the spread of coronavirus and its variants including the delta and omicron variant.

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- Definition The entire disclosure for an event or transaction that is unusual in nature or infrequent in occurrence, or both. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=114868817 + Details
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