FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Feb. 28, 2021

Summary of Balances Attributable to Financing Arrangements

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

	Maturity	Effective	February 28/29,
	Date	Interest Rate	2021			2020
2020 Convertible Notes, 1.625% fixed rate	May 15, 2020	6.20%	$	-		$	27,599
2025 Convertible Notes, 2.00% fixed rate	August 1, 2025	7.56%		230,000			230,000
Due to factors under revenue assignments	2020 - 2024	4.70%		8,081			14,371
Total term debt				238,081			271,970
Unamortized discount and issuance costs				(51,610	)		(61,763	)
Less: current portion of long-term term debt				(4,317	)		(33,119	)
Long-term debt, net of current portion			$	182,154		$	177,088

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
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