Fair Value Measurements and Derivatives (Tables)

6 Months Ended

Aug. 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 August 31, 2022:

			Fair Value Measurements at Reporting Date Using
	Total		Level 1		Level 2		Level 3
Assets:
Cash and money market funds	$	4,326	$	4,326	$	-	$	-
Mutual funds		1,225		1,225		-		-
Derivatives designated for hedging		84		-		84		-
Liabilities:
Contingent consideration	$	5,018	$	-	$	-	$	5,018

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 six months ended August 31, 2022:

Balance at February 28, 2022	$	6,435
Payments made to OHEC		(397	)
Fair value adjustment		52
Foreign currency translation		(1,072	)
Balance at August 31, 2022	$	5,018

Fair Value, by Balance Sheet Grouping

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

	Derivative Assets and Liabilities
		Fair Value
	Account	August 31, 2022		February 28, 2022
Designated derivative instruments
Interest rate swap agreements	Other assets		84		—
	Other long-term liabilities		—		(188	)
Total derivatives		$	84	$	(188	)

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

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

	Three months ended				Six months ended
	August 31, 2022				August 31, 2022
	Pretax Gain Recognized in Other Comprehensive Income		Pretax Loss Reclassified from Accumulated Other Comprehensive Income		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		99		—		272		—

	Three months ended					Six months ended
	August 31, 2021					August 31, 2021
	Pretax (Loss) Gain Recognized in Other Comprehensive Income		Pretax Loss Reclassified from Accumulated Other Comprehensive Income			Pretax (Loss) Gain Recognized in Other Comprehensive Income		Pretax Loss Reclassified from Accumulated Other Comprehensive Income
Cash flow hedges
Foreign currency contracts	$	172	$	(29	)	$	144	$	(205	)
Interest rate swaps		19		—			37		—