Accrued Expenses and Current Liabilities

9 Months Ended

Nov. 30, 2011

Accrued Expenses and Current Liabilities

Accrued Expenses and Current Liabilities

Note 11 – Accrued Expenses and Current Liabilities

A summary of accrued expenses and other current liabilities is as follows:

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

(in thousands)

	November 30,		February 28,
	2011		2011
Accrued sales returns, discounts and allowances	$	35,380	$	32,136
Accrued warranty returns	24,199		24,021
Accrued compensation	19,483		24,379
Accrued advertising	10,166		10,159
Accrued interest	2,270		1,973
Accrued royalties	8,902		7,265
Accrued legal expenses and professional fees	4,898		6,851
Accrued benefits and payroll taxes	7,723		10,100
Accrued freight	2,079		1,950
Accrued property, sales and other taxes	7,117		4,668
Kaz acquisition liabilities	-		4,261
Derivative liabilities, current	3,563		4,564
Other	14,297		9,293
Total accrued expenses and other current liabilities	$	140,077	$	141,620

Kaz acquisition liabilities at February 28, 2011 consisted of $4.26 million of additional purchase price consideration due to former Kaz shareholders as a working capital adjustment settlement, which was paid during the fiscal quarter ended August 31, 2011.