Divestitures (Notes)

12 Months Ended

Feb. 28, 2020

Divestiture [Abstract]

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

21.

DIVESTITURE

In Q4 2020, we sold all outstanding capital stock of PolyVision for net proceeds of $72.6. The transaction resulted in the disposition of the net assets of the PolyVision operating entities in the U.S. and Belgium, which totaled $47.8. The net assets were primarily related to accounts receivable, inventory, property, plant and equipment, and goodwill. In conjunction with the sale, we recorded a provision for $3.8 related to minimum purchase commitments over the next three years. The transaction resulted in a gain of $21.0 in the Other category which reduced Operating expenses in the Consolidated Statements of Income. Subsequent to the sale, we intend to continue to market certain PolyVision branded products to provide customers with a full suite of collaboration solutions.

Our Consolidated Statements of Income include the following in the Other category related to PolyVision:

	Year Ended
	February 28, 2020
Revenue	$	61.5
Gross profit	18.6
Operating income	6.4