Commitments and Contingencies (Notes)

12 Months Ended

Feb. 28, 2017

Commitments and Contingencies Disclosure [Abstract]

Leases

The Company is obligated under various operating leases for property, plant and equipment. As February 28, 2017, future minimum lease payments under non-cancelable operating leases with initial terms in excess of one year are summarized in the below table:



Fiscal Year:	(In thousands)
2018	$	6,627
2019	5,629
2020	3,347
2021	2,655
2022	2,542
Thereafter	8,042
Total	$	28,842

Rent expense was $17.0 million, $13.9 million and $14.1 million for fiscal years 2017, 2016 and 2015, respectively. Rent expense includes various equipment rentals that do not meet the terms of a non-cancelable lease or that have initial terms of less than one year.

Commodity pricing

We have no contracted commitments for any commodities including steel, aluminum, natural gas, cooper, zinc, nickel based alloys, except for those entered into under the normal course of business.

Other

At February 28, 2017, the Company had outstanding letters of credit in the amount of $23.1 million. These letters of credit are issued for a number of reasons, but are most commonly issued in lieu of customer retention withholding payments covering warranty or performance periods. In addition, as of February 28, 2017, a warranty reserve in the amount of $2.1 million was established to offset any future warranty claims.