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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
3 Months Ended
May 31, 2023
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Other Intangible Assets

Other intangible assets consist of the following (in thousands):

 

 

 

 

 

Gross (2)

 

 

Accumulated Amortization (2)

 

 

Net

 

 

 

Useful Life

 

February 28, 2023

 

 

Additions & Adjustments, net (1)

 

 

 

May 31, 2023

 

 

February 28, 2023

 

 

Expense

 

 

May 31, 2023

 

 

February 28, 2023

 

 

May 31, 2023

 

Developed technology

 

4-6 years

 

$

26,895

 

 

$

23

 

 

 

$

26,918

 

 

$

26,735

 

 

$

183

 

 

$

26,918

 

 

$

160

 

 

$

-

 

Tradenames

 

10 years

 

 

30,046

 

 

 

37

 

 

 

 

30,083

 

 

 

22,704

 

 

 

529

 

 

 

23,233

 

 

 

7,342

 

 

 

6,850

 

Customer relationships

 

10-15 years

 

 

35,613

 

 

 

224

 

 

 

 

35,837

 

 

 

16,813

 

 

 

510

 

 

 

17,323

 

 

 

18,800

 

 

 

18,514

 

Patents

 

5 years

 

 

589

 

 

 

 

 

 

 

589

 

 

 

258

 

 

 

 

 

 

258

 

 

 

331

 

 

 

331

 

 

 

 

 

$

93,143

 

 

$

284

 

 

 

$

93,427

 

 

$

66,510

 

 

$

1,222

 

 

$

67,732

 

 

$

26,633

 

 

$

25,695

 

 

(1)
Amounts also include any net changes in intangible asset balances for the periods presented that resulted from foreign currency translations.
(2)
This table excludes the gross value of fully amortized intangible assets totaling $38.9 million at May 31, 2023 and February 28, 2023.
Schedule of Future Amortization Expense

Estimated future amortization expense as of May 31, 2023 is as follows (in thousands):

 

2024 (remainder)

 

$

3,525

 

2025

 

 

4,390

 

2026

 

 

4,175

 

2027

 

 

2,555

 

2028

 

 

2,307

 

Thereafter

 

 

8,743

 

 

$

25,695

 

Schedule of Goodwill

Changes in goodwill are as follows (in thousands):

 

 

Software & Subscription Services

 

 

Telematics Products

 

 

Total

 

Balance as of February 28, 2023

$

78,025

 

 

$

16,189

 

 

$

94,214

 

Effect of exchange rate change on goodwill

 

494

 

 

 

 

 

 

494

 

Balance as of May 31, 2023

$

78,519

 

 

$

16,189

 

 

$

94,708