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Pension Plan (Tables)
3 Months Ended
May 31, 2023
Retirement Benefits [Abstract]  
Summary of Pension Expense Composed of Components Included in Cost of Goods Sold and Selling, General and Administrative Expenses

Pension expense is composed of the following components included in cost of goods sold and selling, general, and administrative expenses in the Company’s consolidated statements of earnings (in thousands):

 

 

Three months ended

 

 

 

May 31,

 

 

 

2023

 

 

2022

 

Components of net periodic benefit cost

 

 

 

 

 

 

Service cost

 

$

182

 

 

$

236

 

Interest cost

 

 

605

 

 

 

492

 

Expected return on plan assets

 

 

(792

)

 

 

(925

)

Amortization of:

 

 

 

 

 

 

Unrecognized net loss

 

 

467

 

 

 

602

 

Net periodic benefit cost

 

$

462

 

 

$

405