| Fair value assets and liabilities measured on recurring basis |
The following tables set forth our financial assets as of May 31, 2025 and February 28, 2025, that we measured at fair value on a recurring basis by level within the fair value hierarchy. Assets measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at May 31, 2025 Using Fair Value Hierarchy | | | Fair Value as of May 31, 2025 | | Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | Valuation
Technique | Assets: | | | | | | | | | | | Cash and cash equivalents | $ | 223,230 | | | $ | 223,230 | | | $ | — | | | $ | — | | | Market | | | | | | | | | | | | | | | | | | | | | | Investments, at fair value: | | | | | | | | | | | Investment in debt securities | $ | 5,029 | | | $ | — | | | $ | — | | | $ | 5,029 | | | Income | | Investment in equity securities | 5,340 | | | 1,442 | | | — | | | 3,898 | | | Market/Income | | | | | | | | | | | | Total investments, at fair value | $ | 10,369 | | | $ | 1,442 | | | $ | — | | | $ | 8,927 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at February 28, 2025 Using Fair Value Hierarchy | | | Fair Value as of February 28, 2025 | | Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | Valuation
Technique | Assets: | | | | | | | | | | | Cash and cash equivalents | $ | 279,052 | | | $ | 279,052 | | | $ | — | | | $ | — | | | Market | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Investments, at fair value: | | | | | | | | | | | Investment in debt securities | $ | 5,029 | | | $ | — | | | $ | — | | | $ | 5,029 | | | Income | | Investment in equity securities | 4,883 | | | 985 | | | — | | | 3,898 | | | Market/Income | | | | | | | | | | | | Total investments, at fair value | $ | 9,912 | | | $ | 985 | | | $ | — | | | $ | 8,927 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
| Carrying amounts and fair values of financial instruments |
The carrying amounts and fair values of our financial instruments at May 31, 2025 and February 28, 2025, were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | May 31, 2025 | | February 28, 2025 | | | | | | | | | | Assets | Carrying Amount
of Asset | | Fair Value
of Asset | | Carrying Amount
of Asset | | Fair Value
of Asset | Investments, at fair value(1) | $ | 10,369 | | | $ | 10,369 | | | $ | 9,912 | | | $ | 9,912 | | | Other investments, net | 728 | | | 728 | | | 4,916 | | | 4,916 | | | | | | | | | | | Liabilities | Carrying Amount
of Liability | | Fair Value
of Liability | | Carrying Amount
of Liability | | Fair Value
of Liability | | Credit Facilities | $ | 20,000 | | | $ | 20,000 | | | $ | 150,000 | | | $ | 150,000 | | | | | | | | | | | Secured Term Financings | 116,663 | | | 108,886 | | | 509,104 | | | 513,161 | | | Unsecured Term Financings | 600,000 | | | 600,000 | | | — | | | — | | | Senior Notes | 4,350,000 | | | 4,349,387 | | | 4,350,000 | | | 4,387,341 | |
_______________ (1)See Assets Measured at Fair Value on a Recurring Basis.
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