Fair Value Measurements and Derivatives (Tables)

3 Months Ended

May 31, 2024

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, 2024:

			Fair Value Measurements at Reporting Date Using
	Total		Level 1		Level 2		Level 3
Assets:
Cash and money market funds	$	4,160	$	4,160	$	-	$	-
Mutual funds		761		761		-		-
Derivatives designated for hedging		244		-		244		-

The following table presents financial assets and liabilities measured at fair value on a recurring basis at February 29, 2024:

			Fair Value Measurements at Reporting Date Using
	Total		Level 1		Level 2		Level 3
Assets:
Cash and money market funds	$	10,986	$	10,986	$	-	$	-
Mutual funds		828	$	828	$	-	$	-
Derivatives designated for hedging		263		-		263		-

Fair Value, by Balance Sheet Grouping

The following table discloses the fair value as of May 31, 2024 and February 29, 2024 of the Company’s derivative instruments:

	Derivative Assets and Liabilities
		Fair Value
	Account	May 31, 2024		February 29, 2024
Derivative instruments
Foreign currency contracts designated as cash flow hedges	Prepaid expenses and other current assets	$	102	$	121
Interest rate swap agreements designated as cash flow hedges	Other assets		142		142
Total derivatives		$	244	$	263

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, 2024 and 2023 was as follows:

	Three months ended
	May 31, 2024
	Pretax Gain Recognized in Other Comprehensive Income		Pretax Loss Reclassified from Accumulated Other Comprehensive Income
Cash flow hedges
Foreign currency contracts	$	8	$	(21	)
Interest rate swaps		-		-

	Three months ended
	May 31, 2023
	Pretax Loss Recognized in Other Comprehensive Income			Pretax Gain (Loss) Reclassified from Accumulated Other Comprehensive Income
Cash flow hedges
Foreign currency contracts	$	-		$	-
Interest rate swaps		(60	)		-