Leases

12 Months Ended

Feb. 28, 2023

Leases [Abstract]

Leases

LEASES

The Company has operating and finance leases primarily for corporate offices, research and development facilities, data centers and certain equipment. The Company’s leases have remaining lease terms of between one year and five years, some of which may include options to extend the lease for up to 10 years, and some of which may include options to terminate the lease within one month.

The components of lease expense were as follows:

	For the Years Ended
	February 28, 2023		February 28, 2022		February 28, 2021
Operating lease cost, included in selling, marketing and administration	$	20	$	23	$	30

Supplemental cash flow information related to leases was as follows:

	For the Years Ended
	February 28, 2023		February 28, 2022		February 28, 2021
Cash used in operating activities related to operating lease payments	$	32	$	37	$	37

During the year ended February 28, 2023, the Company entered into $15 million (February 28, 2022 - $6 million) in lease obligations and recognized a corresponding ROU asset of $15 million (February 28, 2022 - $6 million).

During the year ended February 28, 2023, the Company incurred losses of $4 million (February 28, 2022 - nil; February 28, 2021 - $37 million) on LLA impairment of ROU assets, as described in Note 3. The Company also had sublease income during the year ended February 28, 2023 of $3 million (February 28, 2022 - $3 million; February 28, 2021 - $1 million) and incurred short-term lease costs of $2 million (February 28, 2022 - $2 million; February 28, 2021 - $2 million).

Supplemental consolidated balance sheet information related to leases was as follows:

	As at
	February 28, 2023		February 28, 2022
Operating leases
Operating lease assets
Operating lease ROU assets	$	44	$	50
Operating lease liabilities
Accrued liabilities	$	24	$	28
Operating lease liabilities	52		66
Total operating lease liabilities	$	76	$	94

	As at
	February 28, 2023		February 28, 2022
Weighted average remaining lease term
Operating leases	3.8 years		4.3 years
Weighted average discount rate
Operating lease	3.4	%	3.4	%

Maturities of undiscounted lease liabilities were as follows:

	As at
	February 28, 2023
	Operating Leases
Fiscal year 2024	$	26
Fiscal year 2025	20
Fiscal year 2026	15
Fiscal year 2027	11
Fiscal year 2028	10
Total future minimum lease payments	82
Less:
Imputed interest	(6)
Total	$	76