Leases (Tables)

9 Months Ended

Nov. 30, 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 November 30, 2023 and February 28, 2023 (in thousands):

	Balance Sheet Classification	As of
		November 30, 2023		February 28, 2023
Assets
Right-of-use assets	Right-of-use assets	$	22,830	$	26,392
Liabilities
Operating lease liabilities ― short-term	Lease liability - short-term	$	5,999	$	6,119
Operating lease liabilities ― long-term	Lease liability - long-term	15,732		19,659
Finance lease liabilities ― short-term	Lease liability - short-term	454		284
Finance lease liabilities ― long-term	Lease liability - long-term	1,380		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 November 30,				Nine Months Ended November 30,
	2023		2022		2023		2022
Operating cash flows from operating leases included in lease liabilities	$	1,811	$	2,862	$	5,471	$	8,069
Lease liabilities obtained from new ROU assets - operating	60		2,396		1,942		4,938
Decrease in ROU assets related to lease terminations	—		—		(1,294)		—
Operating and financing cash flows from financing leases included in lease liabilities	130		70		330		182
Lease liabilities obtained from new ROU assets - financing	173		—		773		398

	As of
	November 30, 2023		February 28, 2023
Weighted-average remaining lease term - operating leases	4.29 years		5.04 years
Weighted-average discount rate - operating leases	4.44	%	4.31	%
Weighted-average remaining lease term - financing leases	4.25 years		4.61 years
Weighted-average discount rate - financing leases	5.66	%	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 November 30,				Nine Months Ended November 30,
	2023		2022		2023		2022
Cost of sales	$	2,997	$	3,306	$	9,234	$	8,590
Selling, general and administrative	495		494		1,500		1,435
Total lease cost	$	3,492	$	3,800	$	10,734	$	10,025

Lessee, Operating Lease, Liability, Maturity

As of November 30, 2023, maturities of the Company's lease liabilities were as follows (in thousands):

Fiscal year:	Operating Leases		Finance Leases		Total
2024	$	1,787	$	136	$	1,923
2025	6,532		536		7,068
2026	5,583		459		6,042
2027	4,410		423		4,833
2028	2,441		349		2,790
2029	1,871		138		2,009
Thereafter	1,252		24		1,276
Total lease payments	$	23,876	$	2,065	$	25,941
Less imputed interest	(2,145)		(231)		(2,376)
Total	$	21,731	$	1,834	$	23,565

Finance Lease, Liability, Maturity

As of November 30, 2023, maturities of the Company's lease liabilities were as follows (in thousands):

Fiscal year:	Operating Leases		Finance Leases		Total
2024	$	1,787	$	136	$	1,923
2025	6,532		536		7,068
2026	5,583		459		6,042
2027	4,410		423		4,833
2028	2,441		349		2,790
2029	1,871		138		2,009
Thereafter	1,252		24		1,276
Total lease payments	$	23,876	$	2,065	$	25,941
Less imputed interest	(2,145)		(231)		(2,376)
Total	$	21,731	$	1,834	$	23,565