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Lease Obligations (Tables)
6 Months Ended
Aug. 31, 2022
Leases [Abstract]  
Schedule of Components of Lease Cost

The components of lease cost for the three and six months ended August 31, 2022 and 2021 were as follows:

 

 

 

Three months ended
August 31,

 

 

Six months ended
August 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Operating lease cost (a) (c)

 

$

390

 

 

$

342

 

 

$

785

 

 

$

683

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right of use assets (a)

 

 

73

 

 

 

101

 

 

 

146

 

 

 

222

 

Interest on lease liabilities (b)

 

 

1

 

 

 

3

 

 

 

2

 

 

 

7

 

Total finance lease cost

 

$

74

 

 

$

104

 

 

$

148

 

 

$

229

 

 

(a)
Recorded within Selling, General and administrative, Engineering and technical support, and Cost of sales on the Unaudited Consolidated Statements of Operations and Comprehensive (Loss) Income.
(b)
Recorded within Interest and bank charges on the Unaudited Consolidated Statements of Operations and Comprehensive (Loss) Income.
(c)
Includes immaterial amounts related to variable rent expense.
Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

 

 

 

August 31, 2022

 

 

February 28, 2022

 

Operating Leases

 

 

 

 

 

 

Operating lease, right of use assets

 

$

4,106

 

 

$

4,464

 

Total operating lease right of use assets

 

$

4,106

 

 

$

4,464

 

Accrued expenses and other current liabilities

 

$

1,201

 

 

$

1,255

 

Operating lease liabilities, less current portion

 

 

2,924

 

 

 

3,298

 

Total operating lease liabilities

 

$

4,125

 

 

$

4,553

 

Finance Leases

 

 

 

 

 

 

Property, plant, and equipment, gross

 

$

2,503

 

 

$

2,503

 

Accumulated depreciation

 

 

(2,354

)

 

 

(2,208

)

Total finance lease right of use assets

 

$

149

 

 

$

295

 

Accrued expenses and other current liabilities

 

$

155

 

 

$

224

 

Finance lease liabilities, less current portion

 

 

 

 

 

78

 

Total finance lease liabilities

 

$

155

 

 

$

302

 

Weighted Average Remaining Lease Term

 

 

 

 

 

 

Operating leases

 

5.2 years

 

 

5.5 years

 

Finance leases

 

1.0 years

 

 

1.3 years

 

Weighted Average Discount Rate

 

 

 

 

 

 

Operating leases

 

 

3.79

%

 

 

4.01

%

Finance leases

 

 

3.87

%

 

 

3.87

%

Schedule of Maturities of Leases Liabilities

Maturities of lease liabilities on August 31 of each of the succeeding years are as follows:

 

 

 

Operating Leases

 

 

Finance Leases

 

2023

 

$

1,313

 

 

 

157

 

2024

 

 

961

 

 

 

 

2025

 

 

574

 

 

 

 

2026

 

 

433

 

 

 

 

2027

 

 

292

 

 

 

 

Thereafter

 

 

928

 

 

 

 

Total lease payments

 

 

4,501

 

 

 

157

 

Less imputed interest

 

 

376

 

 

 

2

 

Total

 

$

4,125

 

 

 

155