Fair Value Measurements and Derivatives (Tables)

3 Months Ended

May 31, 2022

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured on Recurring Basis

The following table presents financial assets and liabilities measured at fair value on a recurring basis at May 31, 2022:

			Fair Value Measurements at Reporting Date Using
	Total		Level 1		Level 2		Level 3
Assets:
Cash and money market funds	$	5,733	$	5,733	$	—	$	—
Mutual funds		1,222		1,222		-		-
Liabilities:
Derivatives designated for hedging	$	15	$	-	$	15	$	-
Contingent consideration		5,675		-		-		5,675

The following table presents financial assets and liabilities measured at fair value on a recurring basis at February 28, 2022:

			Fair Value Measurements at Reporting Date Using
	Total		Level 1		Level 2		Level 3
Assets
Cash and money market funds	$	27,788	$	27,788	$	-	$	-
Mutual funds		1,231		1,231		-		-
Liabilities:
Derivatives designated for hedging	$	188		-		188		-
Contingent consideration		6,435		-		-		6,435

Company's Contingent Consideration Balance

The following table provides a rollforward of the Company's contingent consideration balance for the three months ended May 31, 2022:

Balance at February 28, 2022	$	6,435
Payments made to OHEC		(140	)
Fair value adjustment		54
Foreign currency translation		(674	)
Balance at May 31, 2022	$	5,675

Fair Value, by Balance Sheet Grouping

The following table discloses the fair value as of May 31, 2022 and February 28, 2022 of the Company’s derivative instruments:

	Derivative Assets and Liabilities
		Fair Value
	Account	May 31, 2022			February 28, 2022
Designated derivative instruments
Interest rate swap agreement	Other long-term liabilities		(15	)		(188	)
Total derivatives		$	(15	)	$	(188	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

Activity related to cash flow hedges recorded during the three months ended May 31, 2022 and 2021 was as follows:

	Three months ended
	May 31, 2022
	Pretax Gain Recognized in Other Comprehensive Income		Pretax Gain Reclassified from Accumulated Other Comprehensive Income
Cash flow hedges
Foreign currency contracts	$	—	$	63
Interest rate swaps		173		—

	Three months ended
	May 31, 2021
	Pretax (Loss) Gain Recognized in Other Comprehensive Income			Pretax Loss Reclassified from Accumulated Other Comprehensive Income
Cash flow hedges
Foreign currency contracts	$	(28	)	$	(176	)
Interest rate swaps		18			—