XML 50 R34.htm IDEA: XBRL DOCUMENT v3.23.1
Lease Obligations (Tables)
12 Months Ended
Feb. 28, 2023
Leases [Abstract]  
Schedule of Components of Lease Cost

The components of lease cost for the year ended February 28, 2023 were as follows:

 

 

 

February 28,
2023

 

 

February 28,
2022

 

 

February 28,
2021

 

Operating lease cost (a) (c)

 

$

1,508

 

 

$

1,383

 

 

$

1,169

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

Amortization of right of use assets (a)

 

 

283

 

 

 

403

 

 

 

596

 

Interest on lease liabilities (b)

 

 

4

 

 

 

11

 

 

 

28

 

Total finance lease cost

 

$

287

 

 

$

414

 

 

$

624

 

 

(a)
Recorded within Selling, general, and administrative; Engineering and technical support; and Cost of sales on the Consolidated Statements of Operations and Comprehensive (Loss) Income.
(b)
Recorded within Interest and bank charges on the Consolidated Statements of Operations and Comprehensive (Loss) Income.
(c)
Includes immaterial amounts related to variable rent expense.
Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

 

 

 

February 28, 2023

 

 

February 28, 2022

 

Operating Leases

 

 

 

 

 

 

Operating lease, right of use assets

 

$

3,632

 

 

$

4,464

 

Total operating lease right of use assets

 

$

3,632

 

 

$

4,464

 

Accrued expenses and other current liabilities

 

$

1,173

 

 

$

1,255

 

Operating lease liabilities, less current portion

 

 

2,509

 

 

 

3,298

 

Total operating lease liabilities

 

$

3,682

 

 

$

4,553

 

Finance Leases

 

 

 

 

 

 

Property, plant and equipment, gross

 

$

2,754

 

 

$

2,503

 

Accumulated depreciation

 

 

(2,491

)

 

 

(2,208

)

Total finance lease right of use assets

 

$

263

 

 

$

295

 

Accrued expenses and other current liabilities

 

$

203

 

 

$

224

 

Finance lease liabilities, less current portion

 

 

63

 

 

 

78

 

Total finance lease liabilities

 

$

266

 

 

$

302

 

Weighted Average Remaining Lease Term

 

 

 

 

 

 

Operating leases

 

5.0 years

 

 

5.5 years

 

Finance leases

 

1.2 years

 

 

1.3 years

 

Weighted Average Discount Rate

 

 

 

 

 

 

Operating leases

 

 

3.83

%

 

 

4.01

%

Finance leases

 

 

3.51

%

 

 

3.87

%

Schedule of Maturities of Leases Liabilities

At February 28, 2023, maturities of lease liabilities for each of the succeeding years were as follows:

 

 

 

Operating Leases

 

 

Finance Leases

 

2024

 

$

1,269

 

 

$

203

 

2025

 

 

780

 

 

 

64

 

2026

 

 

547

 

 

 

 

2027

 

 

374

 

 

 

 

2028

 

 

245

 

 

 

 

Thereafter

 

 

787

 

 

 

 

Total lease payments

 

 

4,002

 

 

 

267

 

Less imputed interest

 

 

320

 

 

 

1

 

Total

 

$

3,682

 

 

$

266