XML 98 R82.htm IDEA: XBRL DOCUMENT v3.23.1
Variable Interest Entities - Summary of Revenues and Expenses Included in Consolidated Statements of Operations and Comprehensive (Loss) Income (Details) - USD ($)
12 Months Ended
Feb. 28, 2023
Feb. 28, 2022
Feb. 28, 2021
Variable Interest Entity [Line Items]      
Net sales $ 534,014,000 $ 635,920,000 $ 563,605,000
Cost of sales 399,715,000 466,442,000 405,058,000
Gross profit 134,299,000 169,478,000 158,547,000
Selling 46,967,000 50,507,000 43,786,000
General and administrative 74,508,000 75,955,000 69,798,000
Engineering and technical support 31,464,000 31,540,000 20,897,000
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)   0  
Total operating expenses 161,576,000 161,554,000 136,068,000
Operating (loss) income (27,277,000) 7,924,000 22,479,000
Interest and bank charges (4,643,000) (2,532,000) (2,979,000)
Other, net (2,055,000) 323,000 746,000
Total other (expense) income, net (3,673,000) (33,763,000) 5,159,000
(Loss) income before income taxes (30,950,000) [1],[2],[3] (25,839,000) [1] 27,638,000 [4]
Income Tax Expense (Benefit) (39,000) 1,626,000 4,272,000
Net (loss) income (30,911,000) (27,465,000) 23,366,000
Variable Interest Entity, Primary Beneficiary [Member]      
Variable Interest Entity [Line Items]      
Net sales 1,046,000 882,000 836,000
Cost of sales 688,000 694,000 1,025,000
Gross profit 358,000 188,000 (189,000)
Selling 575,000 653,000 603,000
General and administrative 1,509,000 1,410,000 1,785,000
Engineering and technical support 2,355,000 5,817,000 4,674,000
Total operating expenses 4,439,000 7,880,000 7,062,000
Operating (loss) income (4,081,000) (7,692,000) (7,251,000)
Interest and bank charges (1,720,000) (1,662,000) (1,475,000)
Other, net (15,000)    
Total other (expense) income, net (1,735,000) (1,662,000) (1,475,000)
(Loss) income before income taxes (5,816,000) (9,354,000) (8,726,000)
Net (loss) income $ (5,816,000) $ (9,354,000) $ (8,726,000)
[1] Included within Income (loss) before income taxes within Corporate/Eliminations for the year ended February 28, 2022 is a charge of $39,444 recorded for an interim arbitration award unfavorable to the Company (see Note 15). Included within Loss before income taxes on Corporate/Eliminations for the year ended February 28, 2023 are interest charges of $3,944 related to the interim arbitration award.
[2] Included within Loss before income taxes within Corporate/Eliminations for the year ended February 28, 2023 are foreign currency losses of $3,267 attributable to the Company's Onkyo subsidiary related to intercompany transactions and financial statement translation adjustments.
[3] Included within Loss before income taxes within the Automotive Electronics segment for the year ended February 28, 2023 is a goodwill impairment charge of $7,373 and an intangible asset impairment charge of $1,300 (see Note 1(k)).
[4] Included within Income (loss) before income taxes within the Consumer Electronics segment for the year ended February 28, 2021 is an intangible asset impairment charge of $1,300 (see Note 1(k)).