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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
3 Months Ended
May 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Other Intangible Assets

Other intangible assets consist of the following (in thousands):

 

 

 

 

 

Gross (2)

 

 

Accumulated Amortization (2)

 

 

Net

 

 

 

Useful Life

 

Feb. 28,

2022

 

 

Additions & Adjustments, net (1)

 

 

 

May 31,

2022

 

 

Feb. 28,

2022

 

 

Expense

 

 

May 31,

2022

 

 

Feb. 28,

2022

 

 

May 31,

2022

 

Developed technology

 

4-6 years

 

$

26,958

 

 

 

(49

)

 

 

$

26,909

 

 

$

25,470

 

 

$

316

 

 

$

25,786

 

 

$

1,488

 

 

$

1,123

 

Tradenames

 

10 years

 

 

30,192

 

 

 

(92

)

 

 

 

30,100

 

 

 

20,571

 

 

 

533

 

 

 

21,104

 

 

 

9,621

 

 

 

8,996

 

Customer relationships

 

10-15 years

 

 

35,404

 

 

 

71

 

 

 

 

35,475

 

 

 

14,883

 

 

 

490

 

 

 

15,373

 

 

 

20,521

 

 

 

20,102

 

Patents

 

5 years

 

 

589

 

 

 

 

 

 

 

589

 

 

 

254

 

 

 

3

 

 

 

257

 

 

 

335

 

 

 

332

 

 

 

 

 

$

93,143

 

 

$

(70

)

 

 

$

93,073

 

 

$

61,178

 

 

$

1,342

 

 

$

62,520

 

 

$

31,965

 

 

$

30,553

 

 

(1)

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

(2)

This table excludes the gross value of fully amortized intangible assets totaling $23.0 million at May 31, 2022 and February 28, 2022.

 

Schedule of Future Amortization Expense

Estimated future amortization expense as of May 31, 2022 is as follows (in thousands):

 

2023 (remainder)

 

$

4,203

 

2024

 

 

4,529

 

2025

 

 

4,414

 

2026

 

 

4,122

 

2027

 

 

2,501

 

Thereafter

 

 

10,784

 

 

 

$

30,553

 

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

 

Effect of exchange rate change on goodwill

 

(243

)

 

 

 

 

 

(243

)

Balance as of May 31, 2022

$

55,013

 

 

$

39,180

 

 

$

94,193