XML 68 R53.htm IDEA: XBRL DOCUMENT v3.26.1
Defined Benefit Pension Plan (Tables)
 12 Months Ended
Feb. 28, 2026
Postemployment Benefits [Abstract]  
Schedule of Net Benefit Costs The components of net benefit cost related to the Plan were as follows (in thousands):
Year Ended
February 28, 2026February 28, 2025February 29, 2024
Disclosed benefit cost
Interest cost$6,556 $6,833 $7,031 
Expected return on plan assets(6,574)(5,954)(5,947)
Subtotal(18)879 1,084 
Net periodic benefit cost (income)(18)879 1,084 
Disclosed net benefit cost(18)879 1,084 
Presentation of benefit cost pursuant to ASC 715-20
Other components of net periodic benefit cost(18)879 1,084 
Disclosed net benefit cost$(18)$879 $1,084 
Assumptions used to determine benefit cost:
Discount rate5.52 %5.61 %5.59 %
Expected long-term rate of return on plan assets6.75 %6.25 %6.25 %
Schedule of Changes in Projected Benefit Obligations
The changes in benefit obligation and the funded status of the Plan as of and for the years ended below were as follows (in thousands):
As of
Current and non-current classificationFebruary 28, 2026February 28, 2025
Non-current liability$(15,067)$(24,587)
Net pension benefit obligation$(15,067)$(24,587)
Reconciliation of net balance sheet asset (liability)
Net balance sheet asset (liability) at beginning of fiscal year(24,587)(31,148)
Interest cost(6,556)(6,833)
Expected return on plan assets6,574 5,954 
Actuarial gain (loss)2,377 (530)
Employer contributions7,125 7,970 
Net pension benefit obligation at end of fiscal year$(15,067)$(24,587)
Assumptions and dates used for disclosure:
Discount rate5.41 %5.52 %
Census dateOctober 1, 2025October 1, 2024
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
The following table presents information for the Plan with projected benefit obligations in excess of plan assets (in thousands):
As of
February 28, 2026February 28, 2025
Projected benefit obligation$(121,956)$(124,898)
Fair value of plan assets, excluding receivable contributions106,889 100,311 
Net pension benefit obligation$(15,067)$(24,587)
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
Pre-tax amounts recognized in other comprehensive income (loss) were as follows (in thousands):
Year End
February 28, 2026February 28, 2025February 29, 2024
Net loss (gain)$(3,559)$776 $246 
Accumulated other comprehensive (income) loss before adjustment for tax effects ("AOCI")(3,559)776 246 
Development of AOCI
AOCI at beginning of fiscal year776 246 (162)
Net loss (gain)(2,377)530 408 
AOCI at fiscal year end$(1,601)$776 $246 
Additional disclosure information:
Accumulated benefit obligation ("ABO")
ABO at fiscal year end(121,956)(124,898)(127,890)
Schedule of Expected Benefit Payments
Benefit payments we expect to pay, including amounts related to expected future services that we expect to receive, are as follows (in thousands):
Fiscal Year:Pension Benefits
2027$12,512 
202811,466 
202911,172 
203010,857 
203110,496 
2032 through 203646,539 
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
Changes in disclosed plan obligations and plan assets were as follows (in thousands):
As of
February 28, 2026February 28, 2025
Change in projected benefit obligation ("PBO")
PBO at beginning of fiscal year$124,898 $127,890 
Interest cost6,556 6,833 
Actuarial loss (gain)1,810 1,727 
Benefits paid from plan assets(11,308)(11,552)
PBO at fiscal year end$121,956 $124,898 
Change in plan assets
Fair value of plan assets at beginning of fiscal year100,311 96,742 
Actual return on plan assets10,761 7,151 
Employer contributions7,125 7,970 
Benefits paid(11,308)(11,552)
Fair value of plan assets at fiscal year end$106,889 $100,311 
Year Ended
February 28, 2026February 28, 2025February 29, 2024
Reconciliation of net loss (gain)
Net amount at beginning of fiscal year$776 $246 $(162)
Experience loss (gain)(2,377)530 408 
Net amount at fiscal year end$(1,601)$776 $246 
Defined Benefit Plan, Plan Assets, Category
The following table presents a reconciliation of the fair value and market-related value of the Plan assets (in thousands):
As of
February 28, 2026February 28, 2025
Reconciliation of fair value of plan assets
Fair value of plan assets at beginning of fiscal year$100,311 $96,742 
Actual return on plan assets10,761 7,151 
Employer contributions7,125 7,970 
Benefits paid(11,308)(11,552)
Fair value of plan assets at end of fiscal year$106,889 $100,311 
Rate of return on invested assets
Weighted invested assets97,698 95,654 
Rate of return12.41 %7.48 %
Investment Loss/(Gain)
Actual return$10,761 $7,151 
Expected return6,574 5,954 
Loss (gain)(5,552)(1,197)
The following table presents the fair values of the assets of our pension plans as of February 28, 2026 and February 28, 2025 by level of the fair value hierarchy. Assets categorized in Level 1 of the hierarchy are measured at fair value using a market approach based on unadjusted quoted prices from national securities exchanges. No assets were categorized in Level 2 or Level 3 of the hierarchy as of February 28, 2026 and February 28, 2025. Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy and are being presented in the tables to permit a reconciliation to total plan assets. We do not fund or fully fund U.S. nonqualified and certain foreign pension plans that are not subject to funding requirements.
As of
February 28, 2026February 28, 2025
Level 1Level 2Assets measured at Net Asset ValueTotalLevel 1Level 2Assets measured at Net Asset ValueTotal
Equity securities$— $— $49,942 $49,942 $— $— $46,936 $46,936 
Collective investment trusts— — 11,570 11,570 — — 10,164 10,164 
Corporate bonds— — 15,981 15,981 — — 13,258 13,258 
U.S. Government bonds— — 5,012 5,012 — — 6,729 6,729 
Municipal bonds— — 19,176 19,176 — — 19,090 19,090 
Cash and cash equivalents5,208 — — 5,208 4,134 — — 4,134 
Total pension plan assets$5,208 $— $101,681 $106,889 $4,134 $— $96,177 $100,311 
Defined Benefit Plan, Assumptions
The weighted-average assumptions used to determine the benefit obligation were as follows:
As of
February 28, 2026February 28, 2025
Discount rate5.41 %5.52 %
Expected long-term rate of return on plan assets6.75 %6.25 %