FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Feb. 28, 2023

Debt Disclosure [Abstract]

Summary of Balances Attributable to Financing Arrangements

Balances attributable to our financing arrangements consist of the following (in thousands):

	Maturity	Effective	February 28,
	Date	Interest Rate	2023			2022
2025 Convertible Notes, 2.00% fixed rate (2)	August 1, 2025	2.49%		230,000			230,000
Due to factors under revenue assignments	2020 - 2024	4.70%		1,149			3,829
Total term debt				231,149			233,829
Unamortized discount and issuance costs (1)				(3,028	)		(41,541	)
Less: current portion of long-term term debt				(705	)		(2,585	)
Long-term debt, net of current portion			$	227,416		$	189,703

(1) The debt discount associated with the Convertible Notes and related unamortized debt issuance costs as of February 28, 2023 reflects the adoption impact of ASU 2020-06 effective March 1, 2022. See Note 1, Description of Business and Summary of Significant Accounting Policies – Recently Adopted Accounting Pronouncements, for further information regarding the adoption of ASU 2020-06.

(2) The effective interest rate was 7.56% prior to the adoption of ASU 2020-06.

Summary of Liability and Equity Components of Notes, Issuance Costs and Applicable Assumptions Used for Calculation

The table below summarizes the liability and equity components of the 2025 Convertible Notes, the issuance costs and the applicable assumptions used for the calculation (in millions except initial conversion rate and per share amounts):

Initial conversion rate (shares per $1,000 principal amount)		32.5256
Initial conversion price per share	$	30.7450
Fair value of liability component upon issuance	$	160.8
Fair value measurement level	Level 3
Fair value of embedded equity component upon issuance	$	69.2
Deferred tax asset effect	$	17.3
Total issuance cost	$	7.3
Equity component	$	2.2
Deferred tax asset effect	$	0.5