Fair Value Measurements and Derivatives (Tables)

9 Months Ended

Nov. 30, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured on Recurring Basis

The following table presents financial assets and liabilities measured at fair value on a recurring basis at November 30, 2021:

			Fair Value Measurements at Reporting Date Using
	Total		Level 1		Level 2		Level 3
Assets:
Cash and money market funds	$	21,162	$	21,162	$	—	$	—
Mutual funds		1,440		1,440		-		-
Liabilities:
Derivatives designated for hedging	$	200	$	—	$	200	$	—
Contingent consideration		6,403		-		-		6,403

The following table presents financial assets and liabilities measured at fair value on a recurring basis at February 28, 2021:

			Fair Value Measurements at Reporting Date Using
	Total		Level 1		Level 2		Level 3
Assets
Cash and money market funds	$	59,404	$	59,404	$	—	$	—
Mutual funds		1,777		1,777		-		-
Liabilities:
Derivatives designated for hedging	$	765	$	—	$	765	$	—

Fair Value, by Balance Sheet Grouping

The following table discloses the fair value as of November 30, 2021 and February 28, 2021 of the Company’s derivative instruments:

	Derivative Assets and Liabilities
		Fair Value
	Account	November 30, 2021			February 28, 2021
Designated derivative instruments
Foreign currency contracts	Prepaid expenses and other current assets	$	561		$	412
	Accrued expenses and other current liabilities		(456	)		(731	)
Interest rate swap agreement	Other long-term liabilities		(305	)		(446	)
Total derivatives		$	(200	)	$	(765	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

Activity related to cash flow hedges recorded during the three and nine months ended November 30, 2021 and 2020 was as follows:

	Three months ended					Nine months ended
	November 30, 2021					November 30, 2021
	Pretax Gain Recognized in Other Comprehensive Income		Pretax Loss Reclassified from Accumulated Other Comprehensive Income			Pretax Gain Recognized in Other Comprehensive Income		Pretax Loss Reclassified from Accumulated Other Comprehensive Income
Cash flow hedges
Foreign currency contracts	$	89	$	(30	)	$	233	$	(235	)
Interest rate swaps		104		—			141		—

	Three months ended						Nine months ended
	November 30, 2020						November 30, 2020
	Pretax (Loss) Gain Recognized in Other Comprehensive Income			Pretax Loss Reclassified from Accumulated Other Comprehensive Income			Pretax Loss Recognized in Other Comprehensive Income			Pretax Loss Reclassified from Accumulated Other Comprehensive Income
Cash flow hedges
Foreign currency contracts	$	(242	)	$	(121	)	$	(707	)	$	(69	)
Interest rate swaps		39			—			(76	)		—