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Employee Benefit Plans (Tables)
12 Months Ended
Feb. 29, 2020
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures
The following tables present reconciliations of the benefit obligation of the defined-benefit pension plans and the funded status of the defined-benefit pension plans. The Tubelite plan uses a measurement date as of the calendar month-end closest to our fiscal year-end, while the SERP uses a measurement date aligned with our fiscal year-end.
(In thousands)
 
2020
 
2019
Change in projected benefit obligation
 
 
 
 
Benefit obligation beginning of period
 
$
13,310

 
$
13,834

Interest cost
 
492

 
506

Actuarial loss (gain)
 
1,567

 
(19
)
Benefits paid
 
(998
)
 
(1,011
)
Benefit obligation at measurement date
 
14,371

 
13,310

Change in plan assets
 
 
 
 
Fair value of plan assets beginning of period
 
$
5,330

 
$
4,169

Actual return on plan assets
 
1,002

 
97

Company contributions
 
652

 
2,075

Benefits paid
 
(998
)
 
(1,011
)
Fair value of plan assets at measurement date
 
5,986

 
5,330

Underfunded status
 
$
(8,385
)
 
$
(7,980
)

Schedule of Amounts Recognized in Balance Sheet

The funded status was recognized in the consolidated balance sheets as follows:
(In thousands)
 
2020
 
2019
Other non-current assets
 
$
591

 
$
337

Current liabilities
 
(682
)
 
(684
)
Other non-current liabilities
 
(8,294
)
 
(7,633
)
Total
 
$
(8,385
)
 
$
(7,980
)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized as Components of Net Periodic Benefit Cost
The following was included in accumulated other comprehensive loss and has not yet been recognized as a component of net periodic benefit cost:
(In thousands)
 
2020
 
2019
Net actuarial loss
 
$
5,553

 
$
5,025


Schedule of Amounts Recognized in Comprehensive Earnings
The amount recognized in comprehensive earnings, net of tax expense, was:
(In thousands)
 
2020
 
2019
Net actuarial (loss) gain
 
$
(405
)
 
$
229


Schedule of Net Benefit Costs
Components of the defined-benefit pension plans' net periodic benefit cost:
(In thousands)
 
2020
 
2019
 
2018
Interest cost
 
$
492

 
$
506

 
$
531

Expected return on assets
 
(182
)
 
(40
)
 
(41
)
Amortization of unrecognized net loss
 
219

 
226

 
228

Net periodic benefit cost
 
$
529

 
$
692

 
$
718


Schedule of Assumptions Used
Benefit Obligation Weighted-Average Assumptions
 
2020
 
2019
 
2018
Discount rate
 
3.80
%
 
3.80
%
 
3.80
%
Net Periodic Benefit Expense Weighted-Average Assumptions
 
2020
 
2019
 
2018
Discount rate
 
2.50
%
 
3.85
%
 
3.80
%
Expected long-term rate of return on assets
 
4.50
%
 
4.50
%
 
2.00
%

Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, are expected to be paid by the plans:
(In thousands)
 
2021
 
2022
 
2023
 
2024
 
2025
 
2026-2030
Estimated future benefit payments
 
$
1,052

 
$
1,012

 
$
979

 
$
955

 
$
921

 
$
4,260