Supply Chain Financing

9 Months Ended

Nov. 30, 2019

Supply Chain Financing [Abstract]

Supply Chain Financing

(8) Supply Chain Financing

The Company has supply chain financing agreements and factoring agreements that were entered into for the purpose of accelerating receivable collection and better managing cash flow. The balances under the agreements are sold without recourse and are accounted for as sales of accounts receivable. Total receivable balances sold for the three and nine months ended November 30, 2019, net of discounts, were $14,062 and $50,897, respectively, compared to $35,047 and $82,971, respectively, for the three and nine months ended November 30, 2018. During the second quarter of Fiscal 2020, the Company suspended its domestic supply chain financing activities as it has determined it has sufficient cash on hand for operations and does not require additional financing. The Company has the option to resume its activity under the existing arrangements at any time.