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Pension Plan (Tables)
6 Months Ended
Aug. 31, 2024
Retirement Benefits [Abstract]  
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 earnings (in thousands):

 

 

Three months ended

 

 

Six months ended

 

 

 

August 31,

 

 

August 31,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Components of net periodic benefit cost

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

166

 

 

$

154

 

 

$

332

 

 

$

336

 

Interest cost

 

 

649

 

 

 

622

 

 

 

1,298

 

 

 

1,227

 

Expected return on plan assets

 

 

(755

)

 

 

(760

)

 

 

(1,510

)

 

 

(1,552

)

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Unrecognized net loss

 

 

436

 

 

 

481

 

 

 

872

 

 

 

948

 

Net periodic benefit cost

 

$

496

 

 

$

497

 

 

$

992

 

 

$

959