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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Accounting Policies [Abstract]    
Schedule of Changes in Contract Liabilities  
The following table shows the changes in contract liabilities for fiscal year 2022 and 2021 (in thousands):
20222021
Balance at beginning of period$17,873 $18,418 
Contract liabilities added during the period38,085 13,603 
Sales recognized during the period(13,493)(14,148)
Balance at end of period$42,465 $17,873 
Disaggregation of Revenue
Disaggregated Revenue
Revenue by segment and geography is disclosed in Note 12. In addition, the following table presents disaggregated revenue by customer industry for fiscal years 2022, 2021 and 2020 (in thousands):

202220212020
Sales:
Industrial$559,653 $511,740 $605,236 
Transmission and distribution189,559 209,729 254,836 
Power generation153,452 117,448 201,745 
Total sales$902,664 $838,917 $1,061,817 
  
Property, Plant and Equipment Depreciation is computed using the straight-line method over the estimated useful lives of the related assets as follows:
 
Buildings and structures
10-25 years
Machinery and equipment
3-15 years
Furniture and fixtures
3-15 years
Automotive equipment3 years
Computers and software
3-7 years
Property, plant and equipment consisted of the following as of February 28, 2022 and February 28, 2021 (in thousands):
20222021
Land$22,318 $21,439 
Building and structures176,747 158,190 
Machinery and equipment283,333 253,027 
Furniture, fixtures, software and computers33,994 31,695 
Automotive equipment5,350 3,714 
Construction in progress14,623 26,223 
536,365 494,288 
Less accumulated depreciation(305,517)(287,199)
Property, plant, and equipment, net$230,848 $207,089 
The following table outlines the classification of depreciation expense in the consolidated statements of income for fiscal 2022, 2021, and 2020 (in thousands):
202220212020
Cost of sales$30,357 $29,884 $30,721 
Selling, general and administrative2,004 2,319 2,349 
Total depreciation expense$32,361 $32,203 $33,070 
  
Schedule of Warranty Reserve
The following table shows the changes in the Company’s warranty reserve for fiscal year 2022, 2021 and 2020 (in thousands):
 
202220212020
Balance at beginning of period$4,460 $3,702 $1,751 
Warranty costs incurred(1,136)(1,865)(2,118)
Additions charged to income362 2,623 4,069 
Balance at end of period$3,686 $4,460 $3,702 
  
Schedule of Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive loss consisted of the following as of February 28, 2022 and February 28, 2021 (in thousands):
20222021
Foreign currency translation adjustments$(27,324)$(25,084)
Accumulated other comprehensive loss$(27,324)$(25,084)
  
Financing Receivable, Allowance for Credit Loss
The following table shows the changes in the allowance for credit losses for fiscal 2022, 2021 and 2020 (in thousands):
 202220212020
Balance at beginning of year$5,713 $4,951 $2,267 
Adjustment based on aged receivables analysis(377)1,040 2,734 
Charge-offs, net(116)(354)(129)
Other(64)(41)106 
Effect of exchange rate changes51 117 (27)
Balance at end of year$5,207 $5,713 $4,951