Benefit Plans (Tables)

12 Months Ended

Feb. 29, 2024

Retirement Benefits [Abstract]

Company's Pension Plan Asset Allocation, by Asset Category

The Company’s Pension Plan asset allocation, by asset category, is as follows for the fiscal years ended:

	2024			2023
Equity securities		43	%		52	%
Debt securities		51	%		44	%
Cash and cash equivalents		6	%		4	%
Total		100	%		100	%

Company's Target Asset Allocation Percentage, by Asset Class

The Company’s target asset allocation percentage, by asset class, for the year ended February 29, 2024 is as follows:

Asset Class	Target Allocation Percentage
Cash	1 – 5%
Fixed Income	44 – 64%
Equity	34 – 54%

Pension Plan's Fair Value Hierarchy for Assets Measured at Fair Value

The following tables present the Pension Plan’s fair value hierarchy for those assets measured at fair value as of February 29, 2024 and February 28, 2023 (in thousands):

	February 29, 2024
Description	Total		(Level 1)		(Level 2)		(Level 3)
Cash and cash equivalents	$	3,275	$	3,275	$	—	$	—
Government bonds		10,029		—		10,029		—
Corporate bonds		16,215		—		16,215		—
Domestic equities		19,711		19,711		—		—
Foreign equities		2,586		2,586		—		—
	$	51,816	$	25,572	$	26,244	$	—
	February 28, 2023
Description	Total		(Level 1)		(Level 2)		(Level 3)
Cash and cash equivalents	$	2,093	$	2,093	$	—	$	—
Government bonds		9,793		—		9,793		—
Corporate bonds		15,797		—		15,797		—
Domestic equities		16,833		16,833		—		—
Foreign equities		4,726		4,726		—		—
	$	49,242	$	23,652	$	25,590	$	—

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 operations for fiscal years ended (in thousands):

	2024			2023			2022
Components of net periodic benefit cost
Service cost	$	673		$	944		$	1,075
Interest cost		2,456			1,967			1,682
Expected return on plan assets		(3,104	)		(3,699	)		(3,723	)
Amortization of:
Unrecognized net loss		1,896			2,409			2,558
Settlement charge		—			1,273			1,097
Net periodic benefit cost		1,921			2,894			2,689
Other changes in Plan Assets and Projected    Benefit Obligation
Recognized in Other comprehensive loss (income)
Net actuarial loss (gain)		449			(2,295	)		1,396
Amortization of net actuarial loss		(1,896	)		(3,682	)		(3,655	)
		(1,447	)		(5,977	)		(2,259	)
Total recognized in net periodic pension cost and    other comprehensive loss (income)		474		$	(3,083	)	$	430

Schedule of Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost

The following table represents the assumptions used to determine benefit obligations and net periodic pension cost for fiscal years ended:

	2024			2023			2022
Weighted average discount rate (net periodic    pension cost)		5.00	%		3.10	%		2.65	%
Earnings progression (net periodic pension cost)		3.00	%		3.00	%		3.00	%
Expected long-term rate of return on plan assets    (net periodic pension cost)		6.00	%		6.50	%		6.50	%
Weighted average discount rate (benefit    obligations)		5.15	%		5.00	%		3.10	%
Earnings progression (benefit obligations)		3.00	%		3.00	%		3.00	%

Schedule of Accumulated Benefit Obligation, Change in Projected Benefit Obligation, Change in Pension Plan Assets, Funded Status, and Reconciliation to Amounts Recognized in Consolidated Balance Sheets

The accumulated benefit obligation (“ABO”), change

in projected benefit obligation (“PBO”), change in Pension Plan assets, funded status, and reconciliation to amounts recognized in the consolidated balance sheets are as follows (in thousands):

	2024			2023
Change in benefit obligation
Projected benefit obligation at beginning of year	$	49,888		$	64,752
Service cost		673			944
Interest cost		2,456			1,967
Actuarial (gain) loss		1,572			(12,824	)
Other assumption change		(122	)		69
Benefits paid		(2,731	)		(4,885	)
Settlement		—			(135	)
Projected benefit obligation at end of year	$	51,736		$	49,888
Change in plan assets:
Fair value of plan assets at beginning of year	$	49,242		$	59,023
Company contributions		1,200			2,000
Gain on plan assets		4,105			(6,896	)
Benefits paid		(2,731	)		(4,885	)
Fair value of plan assets at end of year	$	51,816		$	49,242
Funded (unfunded) status	$	80		$	(646	)
Accumulated benefit obligation at end of year	$	48,438		$	46,904

Schedule of Estimated Future Benefit Payments which Reflect Expected Future Service

Estimated future benefit payments which reflect expected future service, as appropriate, are expected to be paid to the Pension Plan participants in the fiscal years ended (in thousands):

Year	Projected Payments
2025	$	3,200
2026		3,900
2027		3,800
2028		3,300
2029		4,400
2030 – 2034		20,100