Long-Term Leases and Commitments

12 Months Ended

Feb. 28, 2015

Leases [Abstract]

Long-Term Leases and Commitments

NOTE 13 – LONG-TERM LEASES AND COMMITMENTS

The Corporation is committed under noncancelable operating leases for commercial properties (certain of which have been subleased) and equipment. Rental expense under operating leases for the years ended 2015, 2014 and 2013 is as follows:

	2015			2014			2013
Gross rentals	$	84,612		$	83,790		$	66,840
Sublease rentals		(2,945	)		(5,152	)		(7,758	)
Net rental expense	$	81,667		$	78,638		$	59,082

At February 28, 2015, future minimum rental payments for noncancelable operating leases, net of aggregate future minimum noncancelable sublease rentals, are as follows:

Gross rentals:
2016	$	65,247
2017		68,840
2018		62,449
2019		50,933
2020		44,284
Later years		201,788
		493,541
Sublease rentals		(6,379	)
Net rentals	$	487,162

The table above includes approximately $326,000 of estimated future minimum rental payments related to the Clinton Cards business. Also included in the table above is approximately $142,000 of estimated future minimum rental payments related to the new world headquarters building. See Note 18 for further information.