Pension Plan (Tables)
 9 Months Ended
Nov. 30, 2021
Compensation And Retirement Disclosure [Abstract]  
Summary of Pension Expense Composed of Components Included in Cost of Goods Sold and Selling, General and Administrative Expenses

Pension expense is composed of the following components included in cost of goods sold and selling, general, and administrative expenses in the Company’s consolidated statements of earnings (in thousands):

 

 

 

Three months ended

 

Nine months ended

 

 

November 30,

 

November 30,

 

 

2021

 

2020

 

2021

 

2020

Components of net periodic benefit cost

 

 

 

 

 

 

 

 

Service cost

 

$269

 

$318

 

$806

 

$954

Interest cost

 

420

 

438

 

1,261

 

1,315

Expected return on plan assets

 

(931)

 

(1,019)

 

(2,792)

 

(3,056)

Amortization of:

 

 

 

 

 

 

 

 

Unrecognized net loss

 

639

 

840

 

1,919

 

2,519

Settlement Charges

 

750

 

-

 

750

 

-

Net periodic benefit cost

 

$1,147

 

$577

 

$1,944

 

$1,732