XML 49 R34.htm IDEA: XBRL DOCUMENT
v3.23.1

Pension Plan (Tables) | 12 Months Ended
--- | ---
Feb. 28, 2023
Retirement Benefits [Abstract] |
Company's Pension Plan Asset Allocation, by Asset Category | The Company’s Pension Plan asset allocation, by asset category, is as follows for the fiscal years ended:
|  | 2023 |  |  | 2022 |
Equity securities |  |  | 52 | % |  |  | 57 | %
Debt securities |  |  | 44 | % |  |  | 40 | %
Cash and cash equivalents |  |  | 4 | % |  |  | 3 | %
Total |  |  | 100 | % |  |  | 100 | %
Company's Target Asset Allocation Percentage, by Asset Class | The Company’s target asset allocation percentage, by asset class, for the year ended February 28, 2023 is as follows:
Asset Class |  | Target Allocation Percentage
Cash |  | 1 – 5%
Fixed Income |  | 44 – 64%
Equity |  | 34 – 54%
Pension Plan's Fair Value Hierarchy for Assets Measured at Fair Value | The following tables present the Pension Plan’s fair value hierarchy for those assets measured at fair value as of February 28, 2023 and February 28, 2022 (in thousands):
|  | February 28, 2023 |
Description |  | Total |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Cash and cash equivalents |  | $ | 2,093 |  |  | $ | 2,093 |  |  | $ | — |  |  | $ | — |
Government bonds |  |  | 9,793 |  |  |  | — |  |  |  | 9,793 |  |  |  | — |
Corporate bonds |  |  | 15,797 |  |  |  | — |  |  |  | 15,797 |  |  |  | — |
Domestic equities |  |  | 16,833 |  |  |  | 16,833 |  |  |  | — |  |  |  | — |
Foreign equities |  |  | 4,726 |  |  |  | 4,726 |  |  |  | — |  |  |  | — |
|  | $ | 49,242 |  |  | $ | 23,652 |  |  | $ | 25,590 |  |  | $ | — |
|  | February 28, 2022 |
Description |  | Total |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Cash and cash equivalents |  | $ | 2,172 |  |  | $ | 2,172 |  |  | $ | — |  |  | $ | — |
Government bonds |  |  | 8,623 |  |  |  | — |  |  |  | 8,623 |  |  |  | — |
Corporate bonds |  |  | 14,941 |  |  |  | — |  |  |  | 14,941 |  |  |  | — |
Domestic equities |  |  | 26,582 |  |  |  | 26,582 |  |  |  | — |  |  |  | — |
Foreign equities |  |  | 6,705 |  |  |  | 6,705 |  |  |  | — |  |  |  | — |
|  | $ | 59,023 |  |  | $ | 35,459 |  |  | $ | 23,564 |  |  | $ | — |
Summary of Pension Expense Composed of Components Included in Cost of Goods Sold and Selling, General and Administrative Expenses | Pension expense is composed of the following components included in cost of goods sold and selling, general and administrative expenses in the Company’s consolidated statements of operations for fiscal years ended (in thousands):
|  | 2023 |  |  | 2022 |  |  | 2021 |
Components of net periodic benefit cost |  |  |  |  |  |  |  |  |
Service cost |  | $ | 944 |  |  | $ | 1,075 |  |  | $ | 1,271 |
Interest cost |  |  | 1,967 |  |  |  | 1,682 |  |  |  | 1,754 |
Expected return on plan assets |  |  | (3,699 | ) |  |  | (3,723 | ) |  |  | (4,074 | )
Amortization of: |  |  |  |  |  |  |  |  |
Unrecognized net loss |  |  | 2,409 |  |  |  | 2,558 |  |  |  | 3,358 |
Settlement charge |  |  | 1,273 |  |  |  | 1,097 |  |  |  | 1,619 |
Net periodic benefit cost |  |  | 2,894 |  |  |  | 2,689 |  |  |  | 3,928 |
Other changes in Plan Assets and Projected Benefit Obligation |  |  |  |  |  |  |  |  |
Recognized in Other comprehensive Income |  |  |  |  |  |  |  |  |
Net actuarial loss (gain) |  |  | (2,295 | ) |  |  | 1,396 |  |  |  | (1,588 | )
Amortization of net actuarial loss |  |  | (3,682 | ) |  |  | (3,655 | ) |  |  | (4,977 | )
|  |  | (5,977 | ) |  |  | (2,259 | ) |  |  | (6,565 | )
Total recognized in net periodic pension cost and other comprehensive income |  | $ | (3,083 | ) |  | $ | 430 |  |  | $ | (2,637 | )
Schedule of Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost | The following table represents the assumptions used to determine benefit obligations and net periodic pension cost for fiscal years ended:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Weighted average discount rate (net periodic pension cost) |  |  | 3.10 | % |  |  | 2.65 | % |  |  | 2.65 | %
Earnings progression (net periodic pension cost) |  |  | 3.00 | % |  |  | 3.00 | % |  |  | 3.00 | %
Expected long-term rate of return on plan assets (net periodic pension cost) |  |  | 6.50 | % |  |  | 6.50 | % |  |  | 6.50 | %
Weighted average discount rate (benefit obligations) |  |  | 5.00 | % |  |  | 3.10 | % |  |  | 2.65 | %
Earnings progression (benefit obligations) |  |  | 3.00 | % |  |  | 3.00 | % |  |  | 3.00 | %
Schedule of Accumulated Benefit Obligation, Change in Projected Benefit Obligation, Change in Pension Plan Assets, Funded Status, and Reconciliation to Amounts Recognized in Consolidated Balance Sheets | The accumulated benefit obligation (“ABO”), change in projected benefit obligation (“PBO”), change in Pension Plan assets, funded status, and reconciliation to amounts recognized in the consolidated balance sheets are as follows (in thousands):
|  | 2023 |  |  | 2022 |
Change in benefit obligation |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 64,752 |  |  | $ | 66,018 |
Service cost |  |  | 944 |  |  |  | 1,075 |
Interest cost |  |  | 1,967 |  |  |  | 1,682 |
Actuarial (gain) loss |  |  | (12,824 | ) |  |  | (151 | )
Other assumption change |  |  | 69 |  |  |  | 155 |
Benefits paid |  |  | (4,885 | ) |  |  | (4,148 | )
Settlement |  |  | (135 | ) |  |  | 121 |
Projected benefit obligation at end of year |  | $ | 49,888 |  |  | $ | 64,752 |
Change in plan assets: |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 59,023 |  |  | $ | 59,719 |
Company contributions |  |  | 2,000 |  |  |  | 1,000 |
Gain on plan assets |  |  | (6,896 | ) |  |  | 2,452 |
Benefits paid |  |  | (4,885 | ) |  |  | (4,148 | )
Fair value of plan assets at end of year |  | $ | 49,242 |  |  | $ | 59,023 |
Funded (unfunded) status |  | $ | (646 | ) |  | $ | (5,729 | )
Accumulated benefit obligation at end of year |  | $ | 46,904 |  |  | $ | 60,216 |
Schedule of Estimated Future Benefit Payments which Reflect Expected Future Service | Estimated future benefit payments which reflect expected future service, as appropriate, are expected to be paid to the Pension Plan participants in the fiscal years ended (in thousands):
Year |  | Projected Payments |
2024 |  | $ | 3,000 |
2025 |  |  | 3,000 |
2026 |  |  | 3,700 |
2027 |  |  | 3,500 |
2028 |  |  | 3,000 |
2029 – 2033 |  |  | 19,900 |

X
- Definition Schedule of defined benefit plan weighted average asset allocations. + References No definition available. + Details
Name: | ebf_ScheduleOfDefinedBenefitPlanWeightedAverageAssetAllocationsTableTextBlock
Namespace Prefix: | ebf_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2439-114920 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2410-114920 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration