Shareholders' Equity

12 Months Ended

Feb. 28, 2015

Equity [Abstract]

Stockholders' Equity

Shareholders' Equity

A class of 200,000 shares of junior preferred stock with a par value of $1.00 is authorized, but unissued.

Share Repurchases

During fiscal 2004, the Board of Directors authorized a share repurchase program of 1,500,000 shares of common stock. The Board of Directors increased this authorization by 750,000 shares in January 2008 and by 1,000,000 in October 2008. The Company purchased 203,509 shares under the program during fiscal 2015, for a total cost of $6.9 million. There were no share repurchases during fiscal 2014 or 2013. The Company has purchased a total of 2,482,632 shares, at a total cost of $36.5 million, since the inception of this program and has remaining authority to repurchase 767,368 shares under this program, which has no expiration date.

In addition to the shares repurchased according to this repurchase plan, during fiscal 2015, 2014 and 2013 the Company also purchased $5.2 million, $3.6 million and $1.5 million, respectively, of Company stock from employees in order to satisfy stock-for-stock option exercises or withholding tax obligations related to stock-based compensation, pursuant to terms of board and shareholder approved compensation plans.

Accumulated Other Comprehensive Loss

The following table summarizes the accumulated other comprehensive loss, net of tax at February 28, 2015 and March 1, 2014.

(In thousands)	2015			2014
Net unrealized gain (loss) on marketable securities	$	6		$	(157	)
Foreign currency hedge	—			62
Pension liability adjustments	(4,368		)	(2,910		)
Foreign currency translation adjustments	(17,958		)	(9,955		)
Total accumulated other comprehensive loss	$	(22,320	)	$	(12,960	)