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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
12 Months Ended
Feb. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill

Changes in goodwill are as follows (in thousands):

 

 

Software & Subscription Services

 

 

Telematics
Products

 

 

Total

 

Balance as of February 28, 2022

$

55,256

 

 

$

39,180

 

 

$

94,436

 

Re-allocation

 

22,991

 

 

 

(22,991

)

 

$

-

 

Effect of exchange rate change on goodwill

 

(222

)

 

 

-

 

 

 

(222

)

Balance as of February 28, 2023

$

78,025

 

 

$

16,189

 

 

$

94,214

 

Schedule of Other Intangible Assets

Other intangible assets are comprised as follows (in thousands, except years):

 

 

 

Gross (2)

 

Accumulated Amortization (2)

 

Net

 

 

Useful
Life

Feb. 28,
2022

 

Additions &
Adjustments,
net (1)

 

Feb. 28,
2023

 

Feb. 28,
2022

 

Amortization Expense

 

Feb. 28,
2023

 

Feb. 28,
2022

 

Feb. 28,
2023

 

Developed technology

4-6 years

$

26,958

 

 

(63

)

$

26,895

 

$

25,470

 

 

1,265

 

$

26,735

 

$

1,488

 

$

160

 

Tradenames

10 years

 

30,192

 

 

(146

)

 

30,046

 

 

20,571

 

 

2,133

 

 

22,704

 

 

9,621

 

 

7,342

 

Customer relationships

10-15 years

 

35,404

 

 

209

 

 

35,613

 

 

14,883

 

 

1,930

 

 

16,813

 

 

20,521

 

 

18,800

 

Patents

5 years

 

589

 

 

-

 

 

589

 

 

254

 

 

4

 

 

258

 

 

335

 

 

331

 

 

 

$

93,143

 

$

0

 

$

93,143

 

$

61,178

 

$

5,332

 

$

66,510

 

$

31,965

 

$

26,633

 

 

(1) Amounts also include any net changes in intangible asset balances for the periods presented that resulted from foreign currency translation.

(2) This table excludes the gross value of fully amortized intangible assets totaling $38.9 million and $23.0 million at February 28, 2023 and February 28, 2022, respectively.

Schedule of Future Amortization Expense

Estimated future amortization expense as of February 28, 2023 is as follows (in thousands):

 

2024

$

4,527

 

2025

 

4,412

 

2026

 

4,133

 

2027

 

2,513

 

2028

 

2,266

 

Thereafter

 

8,782

 

 

$

26,633