v3.25.2
Financial Instruments and Risk Management (Tables)
 3 Months Ended
May 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair values of derivative instruments
The following tables summarize the fair values of our derivative instruments as of the end of the periods presented:
(in thousands)May 31, 2025

Derivatives designated as hedging instruments		Hedge
Type		Final
Settlement Date		Notional AmountPrepaid
Expenses
and Other
Current Assets		Other AssetsAccrued
Expenses
and Other
Current Liabilities		Other
Liabilities, Non- Current
Forward contracts - sell EuroCash flow2/2027€97,800 $84 $177 $3,418 $260 
Forward contracts - sell Canadian DollarsCash flow2/2027$52,900 — — 821 316 
Forward contracts - sell PoundsCash flow12/2027£49,400 — 5 1,369 945 
Forward contracts - sell Norwegian KronerCash flow2/2027kr35,000 — — 51 6 
Interest rate swaps (1)
Cash flow8/2027$850,000 1,537 992 — — 
Subtotal   1,621 1,174 5,659 1,527 
Derivatives not designated under hedge accounting       
Forward contracts - sell Euro
(2)6/2025€4,080 — — 67 — 
Forward contracts - sell Pounds
(2)6/2025£5,000 — — 103 — 
Subtotal   — — 170 — 
Total fair value$1,621 $1,174 $5,829 $1,527 
(in thousands)February 28, 2025

Derivatives designated as hedging instruments		Hedge TypeFinal
Settlement Date		Notional AmountPrepaid
Expenses
and Other
Current Assets		Other AssetsAccrued
Expenses
and Other
Current Liabilities		Other
Liabilities Non- Current
Forward contracts - sell EuroCash flow2/2026€35,000 $1,266 $— $— $— 
Forward contracts - sell Canadian DollarsCash flow2/2026$8,000 38 — — — 
Forward contracts - sell PoundsCash flow2/2026£24,950 788 — 99 — 
Forward contracts - sell Norwegian KronerCash flow8/2025kr10,000 71 — — — 
Interest rate swapsCash flow8/2026$550,000 763 302 221 — 
Subtotal   2,926 302 320 — 
Derivatives not designated under hedge accounting       
Forward contracts - sell Euro
(2)3/2025€680 — — 2 — 
Forward contracts - sell Pounds
(2)3/2025£1,280 — — 18 — 
Subtotal   — — 20 — 
Total fair value   $2,926 $302 $340 $— 
(1)Includes a forward-starting interest rate swap agreement with a notional amount of $100 million that becomes effective on March 1, 2026.
(2)These forward contracts, for which we have not elected hedge accounting, hedge monetary net asset and liability positions for the notional amounts reported, creating an economic hedge against currency movements.
Schedule of pre-tax effect of derivative instruments designated as hedges
The pre-tax effects of derivative instruments designated as cash flow hedges were as follows for the periods presented:
 Three Months Ended May 31,
 Gain (Loss)
Recognized in AOCI		Gain (Loss) Reclassified
from AOCI into Income
(in thousands)20252024Location20252024
Foreign currency contracts - cash flow hedges$(9,707)$(108)Sales revenue, net$(723)$184 
Interest rate swaps - cash flow hedges2,613 2,292 Interest expense928 1,084 
Total$(7,094)$2,184  $205 $1,268 
Schedule of pre-tax effect of derivative instruments not designated as hedges
The pre-tax effects of derivative instruments not designated under hedge accounting were as follows for the periods presented:
 Gain (Loss) 
Recognized in Income
Three Months Ended May 31,
(in thousands)Location20252024
Forward contractsSG&A$(336)$22 
Total $(336)$22