Leases (Tables)

12 Months Ended

Feb. 28, 2023

The following table outlines the classification of the Company's right-of-use asset and lease liabilities in the balance sheets for fiscal 2023 and 2022 (in thousands):


	Balance Sheet Classification	As of February 28,
		2023		2022
Assets
Right-of-use assets	Right-of-use assets	$	26,392	$	13,954
Liabilities
Operating lease liabilities ― short-term	Lease liability - short-term	$	6,119	$	3,131
Operating lease liabilities ― long-term	Lease liability - long-term	19,659		10,798
Finance lease liabilities ― short-term	Lease liability - short-term	284		158
Finance lease liabilities ― long-term	Lease liability - long-term	1,045		605

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


	2023			2022
Operating cash flows from operating leases included in lease liabilities	$	5,832		$	3,965
Lease liabilities obtained from new ROU assets - operating	$	3,986		$	491
Weighted-average remaining lease term - operating leases	5.04 years			5.29 years
Weighted-average discount rate - operating leases	4.31		%	4.22		%
Operating and financing cash flows from financing leases included in lease liabilities	$	219		$	104
Lease liabilities obtained from new ROU assets - financing	$	420		$	216
Weighted-average remaining lease term - financing leases	4.61 years			4.87 years
Weighted-average discount rate - financing leases	5.15		%	2.90		%

The following table outlines the classification of lease expense related to operating leases from continuing operations in the statements of income for fiscal 2023, 2022, and 2021 (in thousands):


	Year Ended February 28,
	2023		2022		2021
Cost of sales	$	12,409	$	6,837	$	7,254
Selling, general and administrative	1,858		1,264		1,619
Total lease cost	$	14,267	$	8,101	$	8,873

Lessee, Operating Lease, Liability, Maturity

As of February 28, 2023, maturities of the Company's lease liabilities, excluding lease liabilities associated with our discontinued operations, were as follows (in thousands):


Fiscal year:	Operating Leases		Finance Leases		Total
2024	$	7,079	$	344	$	7,423
2025	6,267		344		6,611
2026	5,392		300		5,692
2027	4,242		268		4,510
2028	2,201		195		2,396
Thereafter	3,438		43		3,481
Total lease payments	$	28,619	$	1,494	$	30,113
Less imputed interest	(2,841)		(165)		(3,006)
Total	$	25,778	$	1,329	$	27,107

Finance Lease, Liability, Maturity

As of February 28, 2023, maturities of the Company's lease liabilities, excluding lease liabilities associated with our discontinued operations, were as follows (in thousands):


Fiscal year:	Operating Leases		Finance Leases		Total
2024	$	7,079	$	344	$	7,423
2025	6,267		344		6,611
2026	5,392		300		5,692
2027	4,242		268		4,510
2028	2,201		195		2,396
Thereafter	3,438		43		3,481
Total lease payments	$	28,619	$	1,494	$	30,113
Less imputed interest	(2,841)		(165)		(3,006)
Total	$	25,778	$	1,329	$	27,107