Financing Arrangements (Details) € in Thousands, $ in Thousands | 3 Months Ended | 45 Months Ended | | | | | | | | | | | |
May 31, 2016USD ($)Rate | May 31, 2015USD ($)Rate | May 31, 2013Rate | Apr. 01, 2020USD ($)Rate | Apr. 26, 2016USD ($) | Feb. 29, 2016USD ($) | Jul. 20, 2015Rate | Jul. 06, 2015USD ($) | Feb. 28, 2014USD ($) | Jan. 09, 2014USD ($) | Apr. 30, 2013Rate | Jan. 03, 2013Rate | Jul. 15, 2012EUR (€) | Jan. 09, 2012Rate | Oct. 23, 2000EUR (€) |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Long-term Debt | | $ 91,923 | | | | | $ 88,169 | | | | | | | | | |
Current portion of long-term debt | | 10,989 | | | | | 8,826 | | | | | | | | | |
Long-term Debt, Excluding Current Maturities | | $ 95,994 | | | | | 90,691 | | | | | | | | | |
Debt Instrument, Periodic Payment | | | | | $ 938 | | | | | | | | | | | |
Line of Credit Facility, Maximum Borrowing Capacity | | | | | | | | | $ 9,995 | | | | | | | |
Debt Instrument, Description of Variable Rate Basis | | 0.7 | | | | | | | | | | | | | | |
Amortization of Financing Costs | | $ 49 | $ 88 | | | | | | | | | | | | | |
Deferred Finance Costs, Gross | | | | | | $ 1,753 | | | $ 332 | | | | | | | |
Line of Credit Facility, Amount Outstanding | | $ 71,193 | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | 1.54% | | | | | | | | | | | | | | |
Deferred Finance Costs, Net | | $ 4,071 | | | | | 2,522 | | | | | | | | | |
Derivative, Fixed Interest Rate | Rate | | | | | | | | 3.48% | | | | | | | | |
Line of Credit Facility, Maximum Borrowing Capacity | | | | | | | | | | | $ 125,000 | | | | | |
Payments to Acquire Property, Plant, and Equipment | | $ 2,297 | 4,455 | | | | | | | | | | | | | |
Debt Instrument, Interest Rate at Period End | Rate | | 2.98% | | | | | | | | | | | | | | |
Mortgages [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Accumulated Amortization, Deferred Finance Costs | | $ 8 | | | | | | | | | | | | | | |
Revolving Credit Facility [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Accumulated Amortization, Deferred Finance Costs | | 196 | $ 279 | | | | | | | | | | | | | |
Deferred Finance Costs, Net | | 3,768 | | | | | | | | | | | | | | |
Long-term Debt [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Line of Credit Facility Sublimit | | | | | | 15,000 | | | | | | | | | | |
Line of Credit Facility, Amount Outstanding | | $ 15,000 | | | | | | | | | | | | | | |
Letter of Credit [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Line of Credit Facility Sublimit | | | | | | 15,000 | | | | | 15,625 | | | | | |
Revolving Credit Facility [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Line of Credit Facility, Maximum Borrowing Capacity | | | | | | | | | | | 30,000 | | | | | |
Loans [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Line of Credit Facility Sublimit | | | | | | 15,000 | | | | | 6,250 | | | | | |
United States of America, Dollars | Revolving Credit Facility [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Line of Credit Facility, Current Borrowing Capacity | | | | | | 140,000 | | | | | | | | | | |
Line of Credit Facility, Maximum Borrowing Capacity | | | | | | $ 175,000 | | | | | $ 125,000 | | | | | |
Corporate and Other [Member] | Mortgages [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt Instrument, Interest Rate at Period End | Rate | | 1.30% | | | | | | | | | | | | | | |
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] | Minimum [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | 1.75% | | | | | | | | | | | | | | |
LIBOR Rate Loan [Member] | Maximum [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | 2.25% | | | | | | | | | | | | | | |
Alternate Base Rate Loan [Member] | Minimum [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | 0.75% | | | | | | | | | | | | | | |
Alternate Base Rate Loan [Member] | Maximum [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | 1.25% | | | | | | | | | | | | | | |
Schwaiger [Member] | Mortgages [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
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 | | 1.74% | | | | | | | | | | | | | | |
Audiovox Germany [Member] | Mortgages [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
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% | | | | | | | | | | | | |
Foreign [Member] | Bank Loan Obligations [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Long-term Debt | € | [1] | | | | | | | | | | | | | | | € 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 | | 1.34% | | | | | | | | | | | | | | |
Debt [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt, Long-term and Short-term, Combined Amount | | $ 106,983 | | | | | 99,517 | | | | | | | | | |
Revolving Credit Facility [Member] | Corporate and Other [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt, Long-term and Short-term, Combined Amount | [2] | 86,193 | | | | | 72,300 | | | | | | | | | |
Mortgages [Member] | Corporate and Other [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt, Long-term and Short-term, Combined Amount | [3] | 9,488 | | | | | | | | $ 9,223 | | | | | | |
Mortgages [Member] | Schwaiger [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt, Long-term and Short-term, Combined Amount | [3] | 858 | | | | | 892 | | | | | | | | | |
Mortgages [Member] | Woodview Trace [Member] [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt, Long-term and Short-term, Combined Amount | [4] | 0 | | | | | 5,720 | | | | | | | | | |
Mortgages [Member] | Audiovox Germany [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt, Long-term and Short-term, Combined Amount | [5] | 4,647 | | | | | 4,710 | | | | | | | | | |
Bank Loan Obligations [Member] | Foreign [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt, Long-term and Short-term, Combined Amount | [1] | 4,575 | | | | | 5,412 | | | | | | | | | |
Long-term Debt [Member] | Klipsch [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt, Long-term and Short-term, Combined Amount | [4] | 221 | | | | | 262 | | | | | | | | | |
Line of Credit [Member] | Hirschmann [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt, Long-term and Short-term, Combined Amount | [6] | $ 1,001 | | | | | $ 998 | | | | | | | | | |
Subsequent Event [Member] | LIBOR Rate Loan [Member] | Long-term Debt [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | | | | 4.25% | | | | | | | | | | | |
Subsequent Event [Member] | LIBOR Rate Loan [Member] | Minimum [Member] | Long-term Debt [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | | | | 0.00% | | | | | | | | | | | |
Subsequent Event [Member] | Alternate Base Rate Loan [Member] | Long-term Debt [Member] | | | | | | | | | | | | | | | | |
Debt Instrument [Line Items] | | | | | | | | | | | | | | | | |
Debt Instrument, Basis Spread on Variable Rate | Rate | | | | | 3.25% | | | | | | | | | | | |
| |
[1] | 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 (see Note 9), 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% (1.34% at May 31, 2016). As of May 31, 2016, the amounts outstanding under these credit facilities, which are payable on demand, do not exceed their respective credit limits. | |
[2] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjc4ZWYwMjQzZmEzNDRmZGFiMzI3OTFkNzdlN2FmZGU0fFRleHRTZWxlY3Rpb246RTAyQ0Y2NjBEOEY2RUJEQTM5RTQzNzNEODIwN0RBNjAM} | |
[3] | 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. | |
[4] | Klipsch NotesThis balance represents a mortgage on a facility included in the assets acquired in connection with the Klipsch acquisition on March 1, 2011 and assumed by Voxx. The balance of this note will be fully paid by the end of Fiscal 2018. | |
[5] | Germany MortgageThis balance represents 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. | |
[6] | 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% (1.74% at May 31, 2016). Hirschmann and Voxx Germany are joint and severally liable for the line of credit balance, which is also guaranteed by VOXX International Corporation. | |