XML 55 R45.htm IDEA: XBRL DOCUMENT v3.23.2
Lease Obligations (Tables)
3 Months Ended
May 31, 2023
Leases [Abstract]  
Schedule of Components of Lease Cost

The components of lease cost for the three months ended May 31, 2023 and 2022 were as follows:

 

 

 

Three months ended
May 31,

 

 

 

2023

 

 

2022

 

Operating lease cost (a) (c)

 

$

365

 

 

$

395

 

Finance lease cost:

 

 

 

 

 

 

Amortization of right of use assets (a)

 

 

69

 

 

 

73

 

Interest on lease liabilities (b)

 

 

1

 

 

 

1

 

Total finance lease cost

 

$

70

 

 

$

74

 

 

(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.
(b)
Recorded within Interest and bank charges on the Unaudited Consolidated Statements of Operations and Comprehensive Loss.
(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:

 

 

 

May 31, 2023

 

 

February 28, 2023

 

Operating Leases

 

 

 

 

 

 

Operating lease, right of use assets

 

$

3,449

 

 

$

3,632

 

Total operating lease right of use assets

 

$

3,449

 

 

$

3,632

 

Accrued expenses and other current liabilities

 

$

1,134

 

 

$

1,173

 

Operating lease liabilities, less current portion

 

 

2,369

 

 

 

2,509

 

Total operating lease liabilities

 

$

3,503

 

 

$

3,682

 

Finance Leases

 

 

 

 

 

 

Property, plant, and equipment, gross

 

$

2,754

 

 

$

2,754

 

Accumulated depreciation

 

 

(2,560

)

 

 

(2,491

)

Total finance lease right of use assets

 

$

194

 

 

$

263

 

Accrued expenses and other current liabilities

 

$

164

 

 

$

203

 

Finance lease liabilities, less current portion

 

 

31

 

 

 

63

 

Total finance lease liabilities

 

$

195

 

 

$

266

 

Weighted Average Remaining Lease Term

 

 

 

 

 

 

Operating leases

 

4.9 years

 

 

5.0 years

 

Finance leases

 

1.0 years

 

 

1.2 years

 

Weighted Average Discount Rate

 

 

 

 

 

 

Operating leases

 

 

3.93

%

 

 

3.83

%

Finance leases

 

 

3.51

%

 

 

3.51

%

Schedule of Maturities of Leases Liabilities

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

 

 

 

Operating Leases

 

 

Finance Leases

 

2024

 

$

968

 

 

 

165

 

2025

 

 

845

 

 

 

31

 

2026

 

 

588

 

 

 

 

2027

 

 

372

 

 

 

 

2028

 

 

244

 

 

 

 

Thereafter

 

 

784

 

 

 

 

Total lease payments

 

 

3,801

 

 

 

196

 

Less imputed interest

 

 

298

 

 

 

1

 

Total

 

$

3,503

 

 

 

195