Subsequent Events (Notes)

12 Months Ended

Feb. 28, 2020

Subsequent Events [Abstract]

Subsequent Events [Text Block]

24.

SUBSEQUENT EVENTS

Impacts of COVID-19 Pandemic

During Q1 2021, the COVID-19 pandemic and the actions taken by various governments and third parties to combat the spread of COVID-19 (including, in some cases, mandatory quarantines and other suspensions of non-essential business operations) have led to significant disruptions in our manufacturing and distribution operations and supply chains, including temporary reductions or suspensions of operations at many of our manufacturing and distribution locations around the world. In addition, many of our customers have been unable to receive products from us or our dealers and have delayed deliveries of existing orders, and our incoming orders have declined significantly during Q1 2021. These disruptions have caused a significant reduction in our revenue during Q1 2021 and are expected to continue to negatively impact our revenue and cash flows while the impact of COVID-19 continues. The impacts of COVID-19 have the potential to be far-reaching, and the duration and intensity of the impact on our business, our industry and the global economy are not yet known.

In addition, during Q1 2021, the market price of our Class A Common Stock declined significantly in connection with overall stock market trends related to the global economic impact of the COVID-19 pandemic.

The potential impacts from COVID-19 and the decline in our stock price could be considered triggering events that may require us to perform impairment assessments of goodwill and other intangible assets in 2021. We will evaluate these considerations beginning in Q1 2021.

We expect to assess the impacts of COVID-19 on other key areas of our business and record necessary accounting adjustments, if and as appropriate. This may include, but not be limited to: adjustments to allowances for credit losses, impairments to investments in unconsolidated affiliates, adjustments to deferred tax assets and valuation allowances related to net operating loss and tax credit carryforwards, and adjustments to employee benefit obligations and pension plan assets.

Borrowings Under Our Global Credit Facility

During Q1 2021, we borrowed $250.0 under our unsecured revolving credit facility to provide additional liquidity in light of the uncertainty related to COVID-19.