Lease Obligations (Tables)

3 Months Ended

May 31, 2021

The components of lease cost for the three months ended May 31, 2021 and 2020 were as follows:

	Three months ended May 31,
	2021		2020
Operating lease cost (a) (c)	$	341	$	243
Finance lease cost:
Amortization of right of use assets (a)		121		169
Interest on lease liabilities (b)		4		9
Total finance lease cost	$	125	$	178

(a)

Recorded within Selling, General and administrative, Engineering and technical support, and Cost of sales on the Unaudited Consolidated Statement of Operations and Comprehensive Income.

(b)

Recorded within Interest and bank charges on the Unaudited Consolidated Statement of Operations and Comprehensive Income.

(c)

Includes immaterial amounts related to variable rent expense.

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

	May 31, 2021			February 28, 2021
Operating Leases
Operating lease, right of use assets	$	4,559		$	4,572
Total operating lease right of use assets	$	4,559		$	4,572
Accrued expenses and other current liabilities	$	1,162		$	1,119
Operating lease liabilities, less current portion		3,540			3,582
Total operating lease liabilities	$	4,702		$	4,701
Finance Leases
Property, plant, and equipment, gross	$	2,503		$	2,503
Accumulated depreciation		(1,926	)		(1,805	)
Total finance lease right of use assets	$	577		$	698
Accrued expenses and other current liabilities	$	366		$	418
Finance lease liabilities, less current portion		229			302
Total finance lease liabilities	$	595		$	720
Weighted Average Remaining Lease Term
Operating leases	5.9 years			6.0 years
Finance leases	1.8 years			1.8 years
Weighted Average Discount Rate
Operating leases		4.40	%		4.49	%
Finance leases		3.87	%		3.87	%

Schedule of Maturities of Leases Liabilities

Maturities of lease liabilities on May 31 of each of the succeeding years are as follows:

	Operating Leases		Finance Leases
2021	$	1,319		374
2022		1,022		193
2023		756		40
2024		558		—
2025		397		—
Thereafter		1,196		—
Total lease payments		5,248		607
Less imputed interest		546		12
Total	$	4,702		595