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Consolidated Balance Sheets - USD ($)
$ in Thousands
May 31, 2022
Feb. 28, 2022
Current assets:    
Cash and cash equivalents $ 5,733 $ 27,788
Accounts receivable, net 82,645 105,625
Inventory 181,187 174,922
Receivables from vendors 217 363
Prepaid expenses and other current assets 19,602 21,340
Income tax receivable 749 734
Total current assets 290,133 330,772
Investment securities 1,222 1,231
Equity investment 22,010 21,348
Property, plant and equipment, net 49,813 49,794
Operating lease, right of use asset 4,255 4,464
Goodwill 72,507 74,320
Intangible assets, net 97,541 101,450
Deferred income tax assets 39 40
Other assets 3,577 3,245
Total assets 541,097 586,664
Current liabilities:    
Accounts payable 54,113 76,665
Accrued expenses and other current liabilities 46,923 54,659
Income taxes payable 1,545 2,714
Accrued sales incentives 20,427 23,755
Interim arbitration award payable (see Note 24) 40,431 39,444
Contract liabilities, current 4,218 4,373
Current portion of long-term debt 500 2,406
Total current liabilities 168,157 204,016
Long-term debt, net of debt issuance costs 14,858 9,786
Finance lease liabilities, less current portion 39 78
Operating lease liabilities, less current portion 3,067 3,298
Deferred compensation 1,222 1,231
Contingent consideration, less current portion (see Note 2) 5,001 5,750
Deferred income tax liabilities 4,330 5,300
Other tax liabilities 913 1,083
Prepaid ownership interest in EyeLock LLC due to GalvanEyes LLC (see Note 21) 3,692 2,451
Other long-term liabilities 3,279 3,508
Total liabilities 204,558 236,501
Commitments and contingencies (see Note 24)
Redeemable equity (see Note 8) 3,450 3,550
Redeemable non-controlling interest (see Note 2) (227) 511
Stockholders' equity:    
Preferred stock:
Paid-in capital 296,175 300,453
Retained earnings 120,046 126,573
Accumulated other comprehensive loss (18,878) (17,503)
Less: Treasury stock, at cost, 2,862,218 and 2,749,218 shares of Class A Common Stock at November 31, 2021 and February 28, 2021, respectively (25,138) (25,138)
Less: Redeemable equity (3,450) (3,550)
Total VOXX International Corporation stockholders' equity 369,023 381,102
Non-controlling interest (35,707) (35,000)
Total stockholders' equity 333,316 346,102
Total liabilities, redeemable equity, redeemable non-controlling interest, and stockholders' equity 541,097 586,664
Common Class A [Member]    
Stockholders' equity:    
Common stock 246 245
Common Class B [Member]    
Stockholders' equity:    
Common stock $ 22 $ 22