Acquisitions (Tables)

6 Months Ended

Aug. 31, 2017

Disposal Groups, Including Discontinued Operations [Table Text Block]

The following table presents a reconciliation of the carrying amounts of major classes of assets and liabilities of the discontinued operation to the amounts presented separately in the Company's Consolidated Balance Sheet:

	February 28, 2017
Cash and cash equivalents	$	6,844
Accounts receivable, net	10,670
Inventory, net	30,701
Receivables from vendors	31
Prepaid expenses and other current assets	7,261
Assets held for sale, current	$	55,507
Property, plant and equipment, net	16,012
Goodwill	49,307
Intangible assets, net	21,350
Assets held for sale, non-current	$	86,669
Accounts payable	14,899
Accrued expenses and other current liabilities	10,366
Income taxes payable	2,374
Current portion of long-term debt	1,002
Liabilities held for sale, current	$	28,641
Capital lease obligation	474
Deferred compensation	380
Deferred income tax liabilities	2,528
Other long-term liabilities	8,259
Liabilities held for sale, non-current	$	11,641
Net assets held for sale	$	101,894

The following table presents a reconciliation of the major financial lines constituting the results of operations for discontinued operations to the net income from discontinued operations, net of tax, presented separately in the Consolidated Statements of Operations and Comprehensive Income (Loss):

	Three Months Ended August 31,						Six Months Ended August 31,
	2017			2016			2017			2016
Net sales	$	47,545		$	40,937		$	91,824		$	82,492
Cost of sales	32,925			26,887			63,610			54,314
Gross profit	14,620			14,050			28,214			28,178
Operating expenses:
Selling	1,396			1,190			2,778			2,473
General and administrative	7,680			6,882			14,676			13,826
Engineering and technical support	3,982			4,682			7,920			10,115
Total operating expenses	13,058			12,754			25,374			26,414
Operating income of discontinued operations	1,562			1,296			2,840			1,764
Other (expense) income:
Interest and bank charges (a)	(157		)	(140		)	(279		)	(271		)
Other, net	150			(41		)	138			(73		)
Total other expense of discontinued operations, net	(7		)	(181		)	(141		)	(344		)
Gain on sale of discontinued operation before taxes	36,118			—			36,118			—
Total income from discontinued operation before taxes	37,673			1,115			38,817			1,420
Income tax expense on discontinued operation (b)	2,742			3,282			6,107			3,286
Income from discontinued operation, net of taxes	$	34,931		$	(2,167	)	$	32,710		$	(1,866	)
Income per share - basic	$	1.45		$	(0.09	)	$	1.35		$	(0.08	)
Income per share - diluted	$	1.45		$	(0.09	)	$	1.35		$	(0.08	)

(a) Includes an allocation of consolidated interest expense and interest expense directly related to debt assumed by the buyer. The allocation of consolidated interest expense was based upon the ratio of net assets of the discontinued operation to that of the Consolidated Company.

(b) The income tax expense on discontinued operations for the three and six months endedAugust 31, 2017, was positively impacted by an income tax benefit related to the partial reversal of the Company’s valuation allowance as the Company utilized a significant portion of its tax attributes to offset the U.S. tax gain related to sale of Hirschmann sale.

The following table presents supplemental cash flow information of the discontinued operation:

	Six Months Ended August 31,
	2017		2016
Operating activities:
Depreciation and amortization expense	$	2,939	$	3,020
Stock-based compensation expense	50		37
Investing activities:
Capital expenditures	$	2,652	$	3,088
Non-cash investing an financing activities:
Capital expenditures funded by long-term obligations	$	1,910	$	—

Business Combination Disclosure [Text Block]

(2)    Acquisitions and Dispositions

Rosen Electronics LLC

On April 18, 2017, Voxx acquired certain assets and assumed certain liabilities of Rosen Electronics LLC. As consideration for the Rosen asset purchase, the Company paid $1,814. In addition, the Company agreed to pay a 2% fee related to future net sales of Rosen products for three years.

Rosen's results of operations have been included in the consolidated financial statements from the date of acquisition. The purpose of this acquisition was to increase the Company's market share and strengthen its intellectual property related to the rear seat entertainment market.

The following summarizes the preliminary allocation of the purchase price for the fair value of the assets acquired and liabilities assumed at the date of acquisition:

Assets acquired:
Inventory	$	2,314
Goodwill	10
Intangible assets including trademarks and customer relationships	520
Total assets acquired	$	2,844
Liabilities assumed:
Warranty accrual	$	500
Other liabilities acquired	530
Total	$	1,030
Total purchase price	$	1,814

Hirschmann Car Communication GmbH

On August 31, 2017 (the "Closing Date"), the Company completed its sale of Hirschmann Car Communication GmbH and its subsidiaries (collectively, “Hirschmann”) to a subsidiary of TE Connectivity Ltd ("TE"). The consideration received by the Company was €148,500. The purchase price, at the exchange rate as of the close of business on the Closing Date approximated $177,000, and is subject to adjustment based upon the final working capital. VOXX International (Germany) GmbH, the Company's German wholly-owned subsidiary, was the selling entity in this transaction.

The Hirschmann subsidiary group, which was included within the Automotive segment, qualified to be presented as a discontinued operation in accordance with ASC 205-20 beginning in the Company's second quarter ending August 31, 2017. Voxx will not have any continuing involvement in the Hirschmann business subsequent to the Closing Date.

In order to hedge the fluctuation in the exchange rate before closing, the Company entered into forward contracts totaling €148,500, which could be settled on dates ranging from August 31, 2017 through September 6, 2017. As the sale of Hirschmann closed on August 31, 2017, the Company settled all of the forward contracts on this date. The forward contracts were not designated for hedging and a total foreign currency loss of $(6,618) was recorded in continuing operations for the three and six months ended August 31, 2017 when the contracts were settled.

The following table presents a reconciliation of the carrying amounts of major classes of assets and liabilities of the discontinued operation to the amounts presented separately in the Company's Consolidated Balance Sheet:

	February 28, 2017
Cash and cash equivalents	$	6,844
Accounts receivable, net	10,670
Inventory, net	30,701
Receivables from vendors	31
Prepaid expenses and other current assets	7,261
Assets held for sale, current	$	55,507
Property, plant and equipment, net	16,012
Goodwill	49,307
Intangible assets, net	21,350
Assets held for sale, non-current	$	86,669
Accounts payable	14,899
Accrued expenses and other current liabilities	10,366
Income taxes payable	2,374
Current portion of long-term debt	1,002
Liabilities held for sale, current	$	28,641
Capital lease obligation	474
Deferred compensation	380
Deferred income tax liabilities	2,528
Other long-term liabilities	8,259
Liabilities held for sale, non-current	$	11,641
Net assets held for sale	$	101,894

The following table presents a reconciliation of the major financial lines constituting the results of operations for discontinued operations to the net income from discontinued operations, net of tax, presented separately in the Consolidated Statements of Operations and Comprehensive Income (Loss):

	Three Months Ended August 31,						Six Months Ended August 31,
	2017			2016			2017			2016
Net sales	$	47,545		$	40,937		$	91,824		$	82,492
Cost of sales	32,925			26,887			63,610			54,314
Gross profit	14,620			14,050			28,214			28,178
Operating expenses:
Selling	1,396			1,190			2,778			2,473
General and administrative	7,680			6,882			14,676			13,826
Engineering and technical support	3,982			4,682			7,920			10,115
Total operating expenses	13,058			12,754			25,374			26,414
Operating income of discontinued operations	1,562			1,296			2,840			1,764
Other (expense) income:
Interest and bank charges (a)	(157		)	(140		)	(279		)	(271		)
Other, net	150			(41		)	138			(73		)
Total other expense of discontinued operations, net	(7		)	(181		)	(141		)	(344		)
Gain on sale of discontinued operation before taxes	36,118			—			36,118			—
Total income from discontinued operation before taxes	37,673			1,115			38,817			1,420
Income tax expense on discontinued operation (b)	2,742			3,282			6,107			3,286
Income from discontinued operation, net of taxes	$	34,931		$	(2,167	)	$	32,710		$	(1,866	)
Income per share - basic	$	1.45		$	(0.09	)	$	1.35		$	(0.08	)
Income per share - diluted	$	1.45		$	(0.09	)	$	1.35		$	(0.08	)

(a) Includes an allocation of consolidated interest expense and interest expense directly related to debt assumed by the buyer. The allocation of consolidated interest expense was based upon the ratio of net assets of the discontinued operation to that of the Consolidated Company.

(b) The income tax expense on discontinued operations for the three and six months endedAugust 31, 2017, was positively impacted by an income tax benefit related to the partial reversal of the Company’s valuation allowance as the Company utilized a significant portion of its tax attributes to offset the U.S. tax gain related to sale of Hirschmann sale.

The following table presents supplemental cash flow information of the discontinued operation:

	Six Months Ended August 31,
	2017		2016
Operating activities:
Depreciation and amortization expense	$	2,939	$	3,020
Stock-based compensation expense	50		37
Investing activities:
Capital expenditures	$	2,652	$	3,088
Non-cash investing an financing activities:
Capital expenditures funded by long-term obligations	$	1,910	$	—