DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Nov. 30, 2020

Summary of Impairment Losses

Based upon our decision to wind down the LoJack U.S. SVR business and our current and prior quarterly impairment assessments, we recorded impairment losses as follows (in thousands):

	Three Months Ended November 30, 2020		Nine Months Ended November 30, 2020
LoJack U.S. SVR Products goodwill	$	8,099	$	12,023
Other long-lived assets		8,782		9,068
Other intangible assets:
Dealer and customer relationships		640		1,005
Developed technology		478		478
Total	$	17,999	$	22,574

Summary of Impact of Immaterial Adjustments Related to the Presentation of Revenues and Cost of Revenues between Products and Services

Subsequent to the issuance of the consolidated financial statements for the year ended February 29, 2020, we concluded that the presentation of revenues and cost of revenues should be adjusted to present product and service revenues and the related cost of revenues for each separately in accordance with SEC Regulation S-X, Rule 5-03(b). Additionally, certain historical information in the notes to the condensed consolidated financial statements have been revised to reflect the impact of these corrections. We have determined that the correction of these classification errors is not material to the previously issued consolidated financial statements. The following table summarizes the impact of the immaterial adjustments.

	Three Months Ended November 30, 2019							Nine Months Ended November 30, 2019
	As Reported		Adjustment			As Corrected		As Reported		Adjustment			As Corrected
Revenues:
Products	$	63,192	$	2,738		$	65,930	$	188,782	$	7,085		$	195,867
Application subscriptions and other services		33,405		(2,738	)		30,667		90,121		(7,085	)		83,036
Total revenues	$	96,597	$	-		$	96,597	$	278,903	$	-		$	278,903
Cost of revenues:
Products	$	42,225	$	1,344		$	43,569	$	118,494	$	3,165		$	121,659
Application subscriptions and other services		17,488		(1,344	)		16,144		50,444		(3,165	)		47,279
Total cost of revenues	$	59,713	$	-		$	59,713	$	168,938	$	-		$	168,938

	Three Months Ended November 30, 2019							Nine Months Ended November 30, 2019
	As Reported		Adjustment			As Corrected		As Reported		Adjustment			As Corrected
Revenue by type of goods and services:
Telematics devices and accessories	$	66,281	$	(351	)	$	65,930	$	200,340	$	(4,473	)	$	195,867
Rental income and other services		3,741		2,845			6,586		7,724		9,042			16,766
Recurring application subscriptions		26,575		(2,494	)		24,081		70,839		(4,569	)		66,270
Total	$	96,597	$	-		$	96,597	$	278,903	$	-		$	278,903
Revenue by timing of revenue recognition:
Revenue recognized at a point in time	$	66,281	$	5,532		$	71,813	$	200,340	$	9,678		$	210,018
Revenue recognized over time		30,316		(5,532	)		24,784		78,563		(9,678	)		68,885
Total	$	96,597	$	-		$	96,597	$	278,903	$	-		$	278,903

ASU 2014-09 [Member]

Disaggregation of Revenue by Type of Goods and Services and by Timing of Revenue Recognition which Reflect the Immaterial Adjustments

We disaggregate revenue from contracts with customers into reportable segments, geography, type of goods and services and timing of revenue recognition. See Note 15 for our revenue by segment and geography. The disaggregation of revenue by type of goods and services and by timing of revenue recognition, which reflect the immaterial corrections as discussed below, was as follows (in thousands):

	Three Months Ended				Nine Months Ended
	November 30,				November 30,
	2020		2019		2020		2019
Revenue by type of goods and services:
Telematics devices and accessories	$	58,327	$	65,930	$	162,376	$	195,867
Rental income and other services		6,095		6,586		14,508		16,766
Recurring application subscriptions		23,590		24,081		74,880		66,270
Total	$	88,012	$	96,597	$	251,764	$	278,903

	Three Months Ended				Nine Months Ended
	November 30,				November 30,
	2020		2019		2020		2019
Revenue by timing of revenue recognition:
Revenue recognized at a point in time	$	64,070	$	71,813	$	175,944	$	210,018
Revenue recognized over time		23,942		24,784		75,820		68,885
Total	$	88,012	$	96,597	$	251,764	$	278,903