Equity

12 Months Ended

Feb. 28, 2022

Equity [Abstract]

Equity

Equity

On January 19, 2012, the Company's Board of Directors authorized the repurchase of up to ten percent of the then outstanding shares of the Company's common stock (the "2012 Authorization"). The 2012 Authorization did not have an expiration date, and the amount and prices paid for any future share purchases under the authorization were to be based on market conditions and other factors at the time of the purchase. Repurchases under the 2012 Authorization were made through open market purchases or private transactions.

On November 10, 2020, the Company's Board of Directors authorized a $100.0 million share repurchase program pursuant to which the Company may repurchase its common stock (the “2020 Authorization”). Repurchases under the 2020

Authorization will be made through open market and/or private transactions, in accordance with applicable federal securities laws, and could include repurchases pursuant to Rule 10b5-1 trading plans, which allows stock repurchases when the Company might otherwise be precluded from doing so.

The following table outlines the Company's share repurchases under the 2020 Authorization during fiscal 2022 and 2021 (in thousands, except per share data):

	Purchased under 2020 Authorization		Purchased under 2012 Authorization		Total Shares Repurchased
Year Ended February 28, 2022
Number of shares repurchased	602		—		602
Total amount of shares repurchased	$	30,815	$	—	$	30,815
Average price per share	$	51.20	$	—	$	51.20
Year Ended February 28, 2021
Number of shares repurchased	331		883		1,214
Total amount of shares repurchased	$	15,998	$	32,313	$	48,311
Average price per share	$	48.36	$	36.60	$	39.80