Financing Arrangements (Details) € in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | | | | | | | | | | | |
Aug. 31, 2015USD ($)Rate | Aug. 31, 2014USD ($) | May. 31, 2013Rate | Aug. 31, 2015USD ($)Rate | Aug. 31, 2014USD ($)Rate | Jul. 20, 2015Rate | Jul. 06, 2015USD ($) | Feb. 28, 2015USD ($) | Feb. 28, 2014USD ($) | Jan. 09, 2014USD ($) | Jun. 03, 2013Rate | Apr. 30, 2013Rate | Jan. 03, 2013Rate | Jul. 15, 2012EUR (€) | Jan. 09, 2012Rate | Oct. 23, 2000EUR (€) |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Long-term Debt | | $ 96,385 | | | $ 96,385 | | | | $ 85,487 | | | | | | | | |
Current portion of long-term debt | | 11,549 | | | 11,549 | | | | 6,032 | | | | | | | | |
Long-term Debt, Excluding Current Maturities | | $ 84,836 | | | 84,836 | | | | 79,455 | | | | | | | | |
Line of Credit Facility, Maximum Borrowing Capacity | | | | | | | | $ 9,995 | | | | | | | | | |
Debt Instrument, Description of Variable Rate Basis | | 0.7 | | | | | | | | | | | | | | | |
Amortization of Financing Costs | | $ 77 | $ 71 | | 165 | $ 139 | | | | | | | | | | | |
Deferred Finance Costs, Net | | | | | | | | $ 332 | | | $ 8,200 | | | | | | |
Line of Credit Facility, Amount Outstanding | | $ 71,200 | | | 71,200 | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | 1.54% | | | | | | | | | | | | | | | |
Derivative, Fixed Interest Rate | Rate | | | | | | | 3.48% | | | | | 3.92% | | | | | |
Line of Credit Facility, Maximum Borrowing Capacity | | | | | | | | | | | 200,000 | | | | | | |
Payments to Acquire Property, Plant, and Equipment | | | | | 10,524 | 5,977 | | | | | | | | | | | |
Mortgage Loans on Real Estate | | $ 6,110 | | | $ 6,110 | | | | | | | | | | | | |
Debt Instrument, Interest Rate at Period End | Rate | | 2.16% | | | 2.16% | | | | | | | | | | | | |
Mortgages [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Accumulated Amortization, Deferred Finance Costs | | $ 3 | | | | | | | | | | | | | | | |
Revolving Credit Facility [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Accumulated Amortization, Deferred Finance Costs | | $ 279 | $ 279 | | $ 559 | $ 558 | | | | | | | | | | | |
Letter of Credit [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Line of Credit Facility Sublimit | | | | | | | | | | | 25,000 | | | | | | |
Loans [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Line of Credit Facility Sublimit | | | | | | | | | | | 10,000 | | | | | | |
United States of America, Dollars | Revolving Credit Facility [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Line of Credit Facility, Maximum Borrowing Capacity | | | | | | | | | | | 200,000 | | | | | | |
Multicurrency [Member] | Revolving Credit Facility [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Line of Credit Facility, Maximum Borrowing Capacity | | | | | | | | | | | $ 30,000 | | | | | | |
LIBOR Rate Loan [Member] | Mortgages [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | | | 2.25% | | | | | | | | | | | | | |
LIBOR Rate Loan [Member] | Commercial Loan [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Derivative, Fixed Interest Rate | Rate | | | | | | | | | | | | | 0.515% | | | | |
LIBOR Rate Loan [Member] | United States of America, Dollars | Revolving Credit Facility [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Derivative, Fixed Interest Rate | Rate | | | | | | | | | | | | | 0.518% | | | | |
LIBOR Rate Loan [Member] | Minimum [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | 1.00% | | | | | | | | | | | | | | | |
LIBOR Rate Loan [Member] | Maximum [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | 2.00% | | | | | | | | | | | | | | | |
Alternate Base Rate Loan [Member] | Minimum [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | 0.00% | | | | | | | | | | | | | | | |
Alternate Base Rate Loan [Member] | Maximum [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | 1.00% | | | | | | | | | | | | | | | |
Corporate and Other [Member] | Mortgages [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Long-term Debt | [1] | $ 3,102 | | | 3,102 | | | | | $ 0 | | | | | | | |
Schwaiger [Member] | Mortgages [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Long-term Debt | [1] | $ 1,036 | | | $ 1,036 | | | | 1,152 | | | | | | | | |
Debt Instrument, Interest Rate, Stated Percentage | Rate | | | | | | | | | | | | | | | | 3.75% | |
Hirschmann [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | | | | | 2.00% | | | | | | | | | | | |
Line of Credit Facility, Maximum Borrowing Capacity | € | | | | | | | | | | | | | | | € 8,000 | | |
Debt Instrument, Interest Rate at Period End | Rate | | 1.97% | | | 1.97% | | | | | | | | | | | | |
Hirschmann [Member] | Line of Credit [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Long-term Debt | [2] | $ 3,737 | | | $ 3,737 | | | | 0 | | | | | | | | |
Klipsch [Member] | Long-term Debt [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Long-term Debt | [3] | 6,452 | | | 6,452 | | | | 6,921 | | | | | | | | |
Klipsch [Member] | Notes Payable to Banks [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Long-term Debt | | 342 | | | 342 | | | | | | | | | | | | |
Audiovox Germany [Member] | Mortgages [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Long-term Debt | [4] | 5,241 | | | 5,241 | | | | 5,627 | | | | | | | | |
Debt Instrument, Interest Rate, Stated Percentage | Rate | | | | | | | | | | | | | | 2.85% | | | |
Interest Rate Contract [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Mortgage Loans on Real Estate, Interest Rate | Rate | | | | 3.92% | | | | | | | | | | | | | |
Corporate and Other [Member] | Revolving Credit Facility [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Long-term Debt | [5] | 71,200 | | | 71,200 | | | | 67,700 | | | | | | | | |
Foreign [Member] | Bank Loan Obligations [Member] | | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | | |
Long-term Debt | [6] | $ 5,617 | | | $ 5,617 | | | | $ 4,087 | | | | | | | | € 8,000 |
Portion of Accounts Receivable Eligible for Factoring | | | | | | | | | | | | | | | | | 60.00% |
Debt Instrument, Basis Spread on Variable Rate | Rate | | 1.60% | | | | | | | | | | | | | | | |
Debt Instrument, Interest Rate at Period End | Rate | | 1.57% | | | 1.57% | | | | | | | | | | | | |
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[1] | Schwaiger Mortgage In January 2012, the Company's Schwaiger subsidiary purchased a building, entering into a mortgage note payable. The mortgage note bears interest at 3.75% and will be fully paid by December 2019. | |
[2] | Hirschmann Line of CreditIn December 2014, Hirschmann entered into an agreement for a €8,000 working capital line of credit with a financial institution. The line of credit is payable on demand and is mutually cancelable. The rate of interest is the three month Euribor plus 2% (1.97% at August 31, 2015). Hirschmann and Voxx Germany are joint and severally liable for the line of credit balance, which is also guaranteed by VOXX International Corporation. | |
[3] | Klipsch MortgagesIncluded in this balance is a mortgage on a facility included in the assets acquired in connection with the Klipsch transaction on March 1, 2011 and assumed by Voxx. The balance at August 31, 2015 is $342 and will be fully paid by the end of Fiscal 2018.Also included in this balance is a mortgage on the building which houses Klipsch's headquarters in Indianapolis, IN due in May 2023. The interest rate on the mortgage is equal to the 1-month LIBOR plus 2.25%. The Company has an interest rate swap agreement in order to hedge interest rate exposure related to this mortgage and pays a fixed rate of 3.92% under the swap agreement (see Note 3). The balance of the mortgage at August 31, 2015 was $6,110. | |
[4] | Germany MortgageIncluded in this balance is a mortgage on the land and building housing Voxx Germany's headquarters in Pulheim, Germany, which was entered into in January 2013. The mortgage bears interest at 2.85%, payable in twenty-six quarterly installments through June 2019. | |
[5] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjUyMzliYzg1YjZhNjQ5NGNiOTMxYTU2MTllMjEyNDUzfFRleHRTZWxlY3Rpb246Rjk2RjA0RUE4RkIyRTM1NDdBQ0Y5NEFFRkVCMEREMjMM} | |
[6] | Foreign bank obligations include a Euro accounts receivable factoring arrangement, which has a credit limit of up to 60% of eligible non-factored accounts receivable and expires on July 31, 2016, and a Euro Asset-Based Lending ("ABL") credit facility, which has a credit limit of €8,000 and expires on October 31, 2016 for the Company's subsidiary, VOXX Germany. The rate of interest for these credit facilities is the three month Euribor plus 1.6% (1.57% at August 31, 2015). As of August 31, 2015, the amounts outstanding under these credit facilities, which are payable on demand, do not exceed their respective credit limits. | |