Leases (Tables)

6 Months Ended

Aug. 31, 2023

Leases [Abstract]

Lease, Cost

The following table outlines the classification of the Company's right-of-use asset and lease liabilities in the balance sheets as of August 31, 2023 and February 28, 2023 (in thousands):

	Balance Sheet Classification	As of
		August 31, 2023		February 28, 2023
Assets
Right-of-use assets	Right-of-use assets	$	24,273	$	26,392
Liabilities
Operating lease liabilities ― short-term	Lease liability - short-term	$	6,145	$	6,119
Operating lease liabilities ― long-term	Lease liability - long-term	17,093		19,659
Finance lease liabilities ― short-term	Lease liability - short-term	427		284
Finance lease liabilities ― long-term	Lease liability - long-term	1,341		1,045

Lessee, Operating Lease, Liability, Maturity

The following table outlines the classification of the Company's right-of-use asset and lease liabilities in the balance sheets as of August 31, 2023 and February 28, 2023 (in thousands):

	Balance Sheet Classification	As of
		August 31, 2023		February 28, 2023
Assets
Right-of-use assets	Right-of-use assets	$	24,273	$	26,392
Liabilities
Operating lease liabilities ― short-term	Lease liability - short-term	$	6,145	$	6,119
Operating lease liabilities ― long-term	Lease liability - long-term	17,093		19,659
Finance lease liabilities ― short-term	Lease liability - short-term	427		284
Finance lease liabilities ― long-term	Lease liability - long-term	1,341		1,045

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

	Three Months Ended August 31,				Six Months Ended August 31,
	2023		2022		2023		2022
Operating cash flows from operating leases included in lease liabilities	$	1,834	$	1,999	$	3,654	$	3,133
Lease liabilities obtained from new ROU assets - operating	373		2,775		1,895		2,885
Decrease in ROU assets related to lease terminations	(1,294)		—		(1,302)		—
Operating and financing cash flows from financing leases included in lease liabilities	113		49		199		94
Lease liabilities obtained from new ROU assets - financing	599		277		599		277

	As of
	August 31, 2023		February 28, 2023
Weighted-average remaining lease term - operating leases	4.46 years		5.04 years
Weighted-average discount rate - operating leases	4.41	%	4.31	%
Weighted-average remaining lease term - financing leases	4.31 years		4.61 years
Weighted-average discount rate - financing leases	5.39	%	5.15	%

The following table outlines the classification of lease expense related to operating leases from continuing operations, in the statements of operations (in thousands):

	Three Months Ended August 31,				Six Months Ended August 31,
	2023		2022		2023		2022
Cost of sales	$	3,136	$	3,214	$	6,237	$	5,283
Selling, general and administrative	506		567		1,005		941
Total lease cost	$	3,642	$	3,781	$	7,242	$	6,224

Finance Lease, Liability, Maturity

As of August 31, 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	$	3,583	$	254	$	3,837
2025	6,505		500		7,005
2026	5,574		423		5,997
2027	4,401		386		4,787
2028	2,435		312		2,747
2029	1,869		101		1,970
Thereafter	1,252		5		1,257
Total lease payments	$	25,619	$	1,981	$	27,600
Less imputed interest	(2,380)		(214)		(2,594)
Total	$	23,239	$	1,767	$	25,006