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LEASES (Tables)
3 Months Ended
May 31, 2019
Leases [Abstract]  
Summary of Lease-related Assets and Liabilities

The table below presents lease-related assets and liabilities recorded on the condensed consolidated balance sheet (in thousands):

 

 

 

Classification

 

May 31, 2019

 

Assets

 

 

 

 

 

 

Operating lease right-of-use assets

 

Operating lease right-of-use assets

 

$

29,267

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Operating lease liabilities (current)

 

Other current liabilities

 

$

5,933

 

Operating lease liabilities (noncurrent)

 

Operating lease liabilities

 

 

26,808

 

Total lease liabilities

 

 

 

$

32,741

 

 

 

 

 

 

 

 

Summary of Lease Costs Included in Condensed Consolidated Statements of Comprehensive Income (Loss)

The following lease costs were included in our condensed consolidated statements of comprehensive income (loss) as follows (in thousands):

 

 

 

Three months ended

May 31, 2019

 

Operating lease cost

 

$

2,001

 

Short-term lease cost

 

 

312

 

Variable lease cost

 

 

30

 

Total lease cost

 

$

2,343

 

 

 

 

 

 

Schedule of Supplemental Information Related to Operating Leases

The table below presents supplemental information related to operating leases during the three months ended May 31, 2019 (in thousands, except weighted-average information):

Cash paid for amounts included in the measurement of operating lease liabilities

 

 

 

$

2,031

 

Right-of-use assets obtained in exchange for new oeprating lease liabilities

 

 

 

 

2,160

 

Weighted average remaining lease term

 

 

 

7.4 years

 

Weighted average discount rate

 

 

 

 

5.50

%

 

Schedule of Reconciles the Undiscounted Cash Flows for Operating Lease Liabilities

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of May 31, 2019 (in thousands):

 

Remainder of 2020

 

$

5,837

 

2021

 

 

6,403

 

2022

 

 

5,500

 

2023

 

 

5,176

 

2024

 

 

4,824

 

Thereafter

 

 

12,814

 

Total minimum lease payments

 

 

40,554

 

Less imputed interest

 

 

(7,813

)

Present value of future minimum lease payments

 

 

32,741

 

Less current obligations under leases

 

 

(5,933

)

Long-term lease obligations

 

$

26,808

 

Schedule of Minimum Lease Payments Under Operating Leases with Non-cancellable Terms in Excess of One Year

Minimum lease payments under operating leases with non-cancelable terms in excess of one year as of February 28, 2019, were as follows (in thousands):

 

2020

 

$

7,565

 

2021

 

 

6,386

 

2022

 

 

6,242

 

2023

 

 

6,199

 

2024

 

 

6,126

 

Thereafter

 

 

7,659

 

Total minimum lease payments

 

$

40,177