Leases

12 Months Ended

Feb. 28, 2021

Leases [Abstract]

Leases

Leases

The Company is a lessee under various leases for facilities and equipment.

The following table outlines the classification of lease expense in the statements of income for fiscal 2021, 2020, and 2019 (in thousands):

	2021		2020		2019
Cost of sales	$	10,533	$	13,521	$	11,630
Selling, general and administrative	4,485		4,923		4,002
Total lease expense	$	15,018	$	18,444	$	15,632

As of February 28, 2021, maturities of the Company's lease liabilities were as follows (in thousands):

Fiscal year:	Operating Leases		Finance Leases		Total
2022	$	8,211	$	73	$	8,284
2023	7,723		73		7,796
2024	6,840		73		6,913
2025	5,876		70		5,946
2026	4,427		14		4,441
Thereafter	12,973		—		12,973
Total lease payments	46,050		303		46,353
Less imputed interest	(7,112)		(24)		(7,136)
Total	38,938		279		39,217

Supplemental information related to the Company's portfolio of leases was as follows (in thousands, except years and percentages):

	2021			2020
Operating cash flows from operating leases included in lease liabilities	$	8,143		$	8,918
Lease liabilities obtained from new ROU assets - operating	$	2,186		$	7,867
Weighted-average remaining lease term - operating leases	6.92 years			7.94 years
Weighted-average discount rate - operating leases	4.71		%	4.89		%
Operating and financing cash flows from financing leases included in lease liabilities	$	25		$	—
Lease liabilities obtained from new ROU assets - financing	$	230		$	—
Weighted-average remaining lease term - financing leases	4.25 years			0.0 years
Weighted-average discount rate - financing leases	4.00		%	—		%