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Retirement and Savings Plans (Tables)
12 Months Ended
Feb. 28, 2013
Reconciliation of Change in Benefit Obligation

The following tables present a reconciliation of the change in benefit obligation, a reconciliation of the change in plan assets, a statement of the funded status of the plans, the components of net periodic benefit cost and the assumptions used in determining the plans’ funded status and periodic cost. The assumptions do not consider salary increases as the majority of plans are either frozen or do not account for salary increases in determining future benefits.

 

     Pension Benefits      Postretirement Benefits  
(in thousands except %)    2013      2012      2013      2012  

Change in Benefit Obligation:

               

Obligation, March 1

   $ 15,964       $ 14,475       $ 1,958       $ 1,842   

Service Cost Benefits Earned During the Period

                     23         20   

Interest Cost on Benefit Obligation

     574         678         78         86   

Plan Amendments

                               

Actuarial (Gain) Loss

     269         2,080         164         94   

Benefit Payments

     (1,256      (1,269      (237      (84

Curtailments

                               

Other Plan Changes

                               

Obligation, February 29 & February 28

   $ 15,551       $ 15,964       $ 1,986       $ 1,958   

Change in Plan Assets:

               

Plan Assets at Fair Value, March 1

   $ 8,517       $ 8,305               $   

Actual Return on Plan Assets

     831         324                   

Company Contributions

     1,356         1,157         237         84   

Benefit Payments

     (1,256      (1,269      (237      (84

Plan Assets at Fair Value, February 29 & February 28

   $ 9,448       $ 8,517       $       $   

Funded Status:

               

Funded Status

   $ (6,103    $ (7,447    $ (1,986    $ (1,958
Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets
     Pension Benefits  
      2013      2012  

Plans with Accumulated Benefit Obligation in excess of Plan Assets

       

Accumulated Benefit Obligation

   $ 15,551       $ 15,964   
Components of Net Periodic Benefit Costs
     Pension Benefits      Postretirement Benefits  
      2013      2012      2011      2013      2012      2011  

Components of Net Periodic Benefit Cost:

                     

Service Cost Benefits Earned During the Period

   $       $       $       $ 23       $ 20       $ 63   

Interest Cost on Benefit Obligation

     574         677         674         78         86         205   

Expected Return on Assets

     (566      (577      (534                        

Amortization of Prior Service Cost

                             (276      (276      (64

Amortization of Net (Gain) Loss

     630         431         389         196         188         218   

Settlements and Curtailment

                                               

Net Periodic Benefit Cost

   $ 638       $ 531       $ 529       $ 21       $ 18       $ 422   
Amounts Recognized in Consolidated Balance Sheets
     Pension Benefits      Postretirement Benefits  
      2013      2012      2013      2012  

Amounts Recognized in the Consolidated Balance Sheets

               

Prepaid Benefit Cost

   $       $       $       $   

Current Liability

     (650      (780      (94      (126

Non-Current Liability

     (5,453      (6,667      (1,891      (1,833

Net Amount Recognized

   $ (6,103    $ (7,447    $ (1,985    $ (1,959
Amounts Recognized in Accumulated Other Comprehensive Loss
     Pension Benefits      Postretirement Benefits  
      2013      2012      2013      2012  

Amounts Recognized in Accumulated Other Comprehensive Loss

               

Prior Service Cost (Credit)

   $       $       $ (1,341    $ (1,617

Net (Gain) or Loss

     6,494         7,119         1,842         1,875   

Net Amount Recognized

   $ 6,494       $ 7,119       $ 501       $ 258   
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss)
     Pension Benefits      Postretirement Benefits  
      2013      2012      2013      2012  

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss)

               

Net (Gain) or Loss

   $ 5       $ 2,333       $ 163       $ 95   

Amortization of Prior Service Cost (Credit)

                     276         276   

Prior Service Cost (Credit)

                               

Adjustment for 2007 Plan Amendment

                               

Amortization of Net (Gain) or Loss

     (630      (431      (196      (188

Net Amount Recognized

   $ (625    $ 1,902       $ 243       $ 183   
Pension Plan Weighted Average Asset Allocations

The Company’s pension plan weighted-average asset allocations at February 28, 2013, and February 29, 2012, by asset category, were as follows:

 

      2013      2012  

Equity Securities

     63      65

Debt Securities

     37      35

Total

     100      100
Summary of Fair Value Measurements of Trust's Assets

The table below summarizes the fair value measurements of the Trust’s assets at February 28, 2013, and February 29, 2012, by asset class (in thousands).

 

(in thousands)    Balance as of
February 28,
2013
    

Quoted Prices in
Active Markets for
Identical Assets

(Level 1)

    

Significant Other
Observable Inputs

(Level 2)

    

Significant
Unobservable

Inputs

(Level 3)

 

Cash and Cash Equivalents

   $ 75       $ 75       $       $   

Mutual Funds—Equity Securities

     5,886         5,886                   

Mutual Funds—Bonds

     3,487         3,487                   

Total

   $ 9,448       $ 9,448       $       $   

 

(in thousands)    Balance as of
February 29,
2012
    

Quoted Prices in
Active Markets for
Identical Assets

(Level 1)

    

Significant Other
Observable Inputs

(Level 2)

    

Significant
Unobservable
Inputs

(Level 3)

 

Cash and Cash Equivalents

   $ 52       $ 52       $       $   

Mutual Funds—Equity Securities

     5,528         5,528                   

Mutual Funds—Bonds

     2,937         2,937                   

Total

   $ 8,517       $ 8,517       $       $   
Pension Plans, Defined Benefit
 
Expected Benefit Payments

Benefits expected to be paid in each of the next five fiscal years, and in the aggregate for the five fiscal years after that, are shown in the table below (in thousands).

 

Expected Benefit Payments:        

2014

   $ 1,196   

2015

     1,130   

2016

     939   

2017

     803   

2018

     741   

2019 through 2023

     4,152   

Total

   $ 8,961   
Plan Funded Status
 
Assumptions Used
      2013      2012      2011  

Assumptions Used in Determining the Plans’ Funded Status:

          

Discount Rate

     3.79%-4.04      4.00%-4.23      5.22%-5.50

Rate of Increase in Compensation Levels

     N/A         N/A         N/A   
Net Periodic Benefit Cost
 
Assumptions Used
      2013      2012      2011  

Assumptions Used in Determining Net Periodic Benefit Cost:

          

Discount Rate

     4.00%-4.23%         5.22%-5.50      5.64%-5.94

Expected Long-Term Rate of Return on Assets

     6.60%         7.00      7.50
Other Postretirement Benefit Plans, Defined Benefit
 
Expected Benefit Payments

Benefits expected to be paid in each of the next five fiscal years, and in the aggregate for the five following fiscal years, are shown in the table below (in thousands).

 

Expected Benefit Payments:        

2014

   $ 94   

2015

     85   

2016

     91   

2017

     95   

2018

     106   

2019 through 2023

     575   

Total

   $ 1,046