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Consolidated Balance Sheets - USD ($)
$ in Thousands
May 31, 2021
Feb. 28, 2021
Current assets:    
Cash and cash equivalents $ 36,710 $ 59,404
Accounts receivable, net 95,498 106,165
Inventory 137,723 130,793
Receivables from vendors 357 277
Prepaid expenses and other current assets 26,864 22,266
Income tax receivable 440 434
Total current assets 297,592 319,339
Investment securities 1,685 1,777
Equity investment 23,145 23,267
Property, plant and equipment, net 51,659 52,026
Operating lease, right of use asset 4,559 4,572
Goodwill 57,408 58,311
Intangible assets, net 88,699 90,104
Deferred income tax assets 101 99
Other assets 990 1,323
Total assets 525,838 550,818
Current liabilities:    
Accounts payable 46,320 61,826
Accrued expenses and other current liabilities 47,893 53,392
Income taxes payable 1,868 1,587
Accrued sales incentives 21,029 25,313
Contract liabilities, current 4,005 4,178
Current portion of long-term debt 500 500
Total current liabilities 121,615 146,796
Long-term debt, net of debt issuance costs 5,260 5,962
Finance lease liabilities, less current portion 229 302
Operating lease liabilities, less current portion 3,540 3,582
Deferred compensation 1,685 1,777
Deferred income tax liabilities 7,010 6,645
Other tax liabilities 1,079 1,170
Other long-term liabilities 4,422 5,255
Total liabilities 144,840 171,489
Commitments and contingencies (see Note 25)
Redeemable equity (see Note 8) 3,226 3,260
Stockholders' equity:    
Preferred stock: 0 0
Paid-in capital 299,782 300,402
Retained earnings 151,622 148,906
Accumulated other comprehensive loss (14,485) (14,977)
Less: Treasury stock, at cost, 2,749,218 shares of Class A Common Stock at both May 31, 2021 and February 28, 2021 (23,918) (23,918)
Less: Redeemable equity (3,226) (3,260)
Total VOXX International Corporation stockholders' equity 410,042 407,420
Non-controlling interest (32,270) (31,351)
Total stockholders' equity 377,772 376,069
Total liabilities, redeemable equity, and stockholders' equity 525,838 550,818
Common Class A [Member]    
Stockholders' equity:    
Common stock 245 245
Common Class B [Member]    
Stockholders' equity:    
Common stock $ 22 $ 22