| Schedule of Restructuring Charges Recorded |
The following tables summarize restructuring charges recorded as a result of Project Pegasus for the periods presented:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fiscal Year Ended February 28, 2025 | | Total
Incurred Since Inception | | (in thousands) | Home &
Outdoor | | | | | | Beauty & Wellness | | Total | | | Severance and employee related costs | $ | 3,244 | | | | | | | $ | 6,140 | | | $ | 9,384 | | | $ | 24,660 | | | Professional fees | 1,030 | | | | | | | 1,749 | | | 2,779 | | | 29,656 | | | Contract termination | — | | | | | | | 1,747 | | | 1,747 | | | 3,078 | | Other | 581 | | | | | | | 331 | | | 912 | | | 3,502 | | | Total restructuring charges | $ | 4,855 | | | | | | | $ | 9,967 | | | $ | 14,822 | | | $ | 60,896 | |
| | | | | | | | | | | | | | | | | | | | | | | | Fiscal Year Ended February 29, 2024 | | (in thousands) | Home &
Outdoor | | | | | | Beauty & Wellness | | Total | | Severance and employee related costs | $ | 1,046 | | | | | | | $ | 4,777 | | | $ | 5,823 | | | Professional fees | 4,049 | | | | | | | 6,079 | | | 10,128 | | | Contract termination | — | | | | | | | 796 | | | 796 | | Other (1) | 49 | | | | | | | 1,916 | | | 1,965 | | | Total restructuring charges | $ | 5,144 | | | | | | | $ | 13,568 | | | $ | 18,712 | |
(1)Includes a $1.8 million charge to write-off inventory, tooling and other production equipment as a result of abandoning a new product prior to its initial launch.
| | | | | | | | | | | | | | | | | | | | | | | | Fiscal Year Ended February 28, 2023 | | (in thousands) | Home &
Outdoor | | | | | | Beauty & Wellness | | Total | | Severance and employee related costs | $ | 1,984 | | | | | | | $ | 7,469 | | | $ | 9,453 | | | Professional fees | 6,674 | | | | | | | 10,075 | | | 16,749 | | | Contract termination | — | | | | | | | 535 | | | 535 | | | Other | 31 | | | | | | | 594 | | | 625 | | | Total restructuring charges | $ | 8,689 | | | | | | | $ | 18,673 | | | $ | 27,362 | |
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| Schedule of Rollforward of Restructuring Reserve |
The tables below present a rollforward of our accruals related to Project Pegasus, which are included in accounts payable and accrued expenses and other current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | Balance at February 29, 2024 | | Charges | | Payments | | Balance at February 28, 2025 | | Severance and employee related costs | $ | 4,493 | | | $ | 9,384 | | | $ | (6,749) | | | $ | 7,128 | | | Professional fees | 272 | | | 2,779 | | | (2,538) | | | 513 | | | Contract termination | — | | | 1,747 | | | (1,735) | | | 12 | | | Other | — | | | 912 | | | (912) | | | — | | | Total | $ | 4,765 | | | $ | 14,822 | | | $ | (11,934) | | | $ | 7,653 | |
| | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | Balance at February 28, 2023 | | Charges | | Payments | | Balance at February 29, 2024 | | Severance and employee related costs | $ | 3,173 | | | $ | 5,823 | | | $ | (4,503) | | | $ | 4,493 | | | Professional fees | 3,201 | | | 10,128 | | | (13,057) | | | 272 | | | Contract termination | 160 | | | 796 | | | (956) | | | — | | | Other | 34 | | | 194 | | | (228) | | | — | | | Total | $ | 6,568 | | | $ | 16,941 | | | $ | (18,744) | | | $ | 4,765 | |
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