Related Party Disclosures

12 Months Ended

Feb. 28, 2023

Related Party Transactions [Abstract]

Related Party Transactions Disclosure

Related Party Transactions

We incurred fees from our Shareholders as part of intra-company service agreements totaling $8.3 million and $5.5 million during the years ended February 29, 2024 and February 28, 2023, respectively, whereby our Shareholders provide certain management and administrative services to the Company. These fees are recorded in selling, general and administrative costs in the consolidated statement of income (loss). In addition, the Company purchased parts under a parts management services and supply agreement with an affiliate of Marubeni totaling $1.5 million and $4.2 million during the years ended February 29, 2024 and February 28, 2023, respectively.

On February 8, 2024, the Company incurred fees of $2.7 million in relation to the amendment of our $300.0 million unsecured revolving credit facilities with Mizuho Bank Ltd., a related party - see Note 8 for additional information. This transaction was approved by our Audit Committee as an arm’s length transaction under our related party policy.

See Note 8 for additional information regarding amendments entered into during the year ended February 29, 2024 in respect of our unsecured revolving credit facilities with Mizuho Marubeni Leasing America Corporation and Mizuho Bank Ltd., each a related party.

See Note 9 for additional information regarding our Subscription Agreement entered into with our Shareholders during the year ended February 29, 2024.