LEASES

3 Months Ended

May 31, 2021

Leases [Abstract]

LEASES

NOTE 9 – LEASES

We have various non-cancelable operating leases for our offices in California, Texas, Massachusetts, Indiana, Minnesota and Virginia in the United States, and Italy, Mexico and the United Kingdom. We also have various non-cancelable operating leases for towers and vehicles throughout the United States, Italy and Mexico. These leases expire at various times through 2028. Certain lease agreements contain renewal options, rent abatement, and escalation clauses that are factored into our determination of lease payments when appropriate.

The table below presents lease-related assets and liabilities recorded on the condensed consolidated balance sheet (in thousands):

	Classification	May 31, 2021		February 28, 2021
Assets
Operating lease right-of-use assets	Operating lease right-of-use assets	$	13,083	$	14,273
Liabilities
Operating lease liabilities (current)	Other current liabilities	$	4,768	$	4,926
Operating lease liabilities (noncurrent)	Operating lease liabilities		15,610		17,061
Total lease liabilities		$	20,378	$	21,987

Lease Costs

The following lease costs were included in our condensed consolidated statements of comprehensive loss as follows (in thousands):

	For the Three Months Ended May 31,
	2021		2020
Operating lease cost	$	1,131	$	1,932
Short-term lease cost		17		871
Variable lease cost		102		304
Total lease cost	$	1,250	$	3,107

Supplemental Information

The table below presents supplemental information related to operating leases (in thousands, except weighted-average information):

	Three Months Ended
	May 31,
	2021		2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	1,425	$	2,100
Right-of-use assets obtained in exchange for new operating lease liabilities	$	18	$	4,683
Weighted average remaining lease term	4.6 years		6.5 years
Weighted average discount rate	5.36%			5.24	%

Undiscounted Cash Flows

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of May 31, 2021 (in thousands):

Remainder of 2022	$	4,082
2023		5,100
2024		4,718
2025		3,047
2026		2,306
Thereafter		1,925
Total minimum lease payments		21,178
Less imputed interest		(800	)
Present value of future minimum lease payments		20,378
Less current obligations under leases		(4,768	)
Long-term lease obligations	$	15,610