Property and Equipment

12 Months Ended

Feb. 28, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 5 - Property and Equipment

A summary of property and equipment was as follows:

	Estimated Useful Lives (Years)			Fiscal Years Ended Last Day of February,
(in thousands)				2023		2022
Land		—		$	20,632	$	20,632
Building and improvements	3	—	40	132,303		126,093
Computer, furniture and other equipment	3	—	15	101,567		102,566
Tools, molds and other production equipment	3	—	7	67,184		55,925
Construction in progress		—		209,068		61,168
Property and equipment, gross				530,754		366,384
Less: accumulated depreciation				(178,961)		(161,006)
Property and equipment, net				$	351,793	$	205,378

We recorded $26.4 million, $23.1 million and $20.1 million of depreciation expense including $13.0 million, $10.0 million and $6.8 million in cost of goods sold and $13.4 million, $13.1 million and $13.3 million in SG&A in the consolidated statements of income for fiscal 2023, 2022 and 2021, respectively. In March 2023, we completed the construction of an additional distribution facility in Gallaway, Tennessee that became operational during the first quarter of fiscal 2024 and currently services our Home & Outdoor segment.