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Other (Expense) Income
9 Months Ended
Nov. 30, 2020
Other Income And Expenses [Abstract]  
Other (Expense) Income

(18)

Other (Expense) Income

Other (expense) income is comprised of the following:

 

 

 

Three months ended

November 30,

 

 

Nine months ended

November 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Foreign currency gain (loss)

 

$

34

 

 

$

61

 

 

$

(445

)

 

$

297

 

Interest income

 

 

6

 

 

 

199

 

 

 

77

 

 

 

814

 

Rental income

 

 

188

 

 

 

176

 

 

 

556

 

 

 

460

 

Miscellaneous

 

 

(349

)

 

 

(758

)

 

 

(167

)

 

 

298

 

Total other, net

 

$

(121

)

 

$

(322

)

 

$

21

 

 

$

1,869

 

 

The decrease in interest income for the three and nine months ended November 30, 2020 as compared to the prior year periods primarily relates to the decrease in interest rates applicable to the Company’s short-term money market investments. For the nine months ended November 30, 2019, miscellaneous included proceeds from a key man life insurance policy in the amount of $1,000 related to a former employee of Klipsch Group, Inc. that Voxx became the beneficiary of in conjunction with the acquisition of Klipsch in Fiscal 2012, offset by a payment of $804 in settlement of the final working capital calculation related to the sale of the Company’s former Hirschmann subsidiary in Fiscal 2018. The final working capital settlement impacted both the three and nine months ended November 30, 2019.