FINANCING ARRANGEMENTS (Tables)

3 Months Ended

May 31, 2019

Debt Disclosure [Abstract]

Schedule of Balances Attributable to Financing Arrangements

Balances attributable to our financing arrangements consist of the following (in thousands):

	May 31,		February 28,
	2019		2019
2020 Convertible Notes	$	116,706	$	115,249
2025 Convertible Notes		162,839		160,656
Due to factors		18,826		-
		298,371		275,905
Less: Current portion		123,479		-
Long-term debt, net of current portion	$	174,892	$	275,905

Summary of Liability and Equity Components of Notes, Issuance Costs and Applicable Assumptions Used for Calculation

The table below summarizes the liability and equity components of the Notes, the issuance costs and the applicable assumptions used for the calculation (in millions except initial conversion rate and per share amounts):

	2020 Convertible Notes			2025 Convertible Notes
Initial conversion rate (shares per $1,000 principal amount)		36.2398			32.5256
Initial conversion price per share	$	27.5940		$	30.7450
Fair value of liability component upon issuance	$	138.9		$	160.8
Discount Rate		6.20	%		7.56	%
Fair value measurement level	Level 3			Level 3
Fair value of embedded equity component upon issuance	$	33.6		$	69.2
Deferred tax asset effect	$	16.0		$	17.3
Total issuance cost	$	4.3		$	7.3
Equity component	$	1.0		$	2.2
Deferred tax asset effect	$	0.4		$	0.5
Fair value of convertible notes as of May 31, 2019 (Level 2 measurement)	$	119.4		$	176.4