Annual report pursuant to Section 13 and 15(d)

Defined Contribution and Defined Benefit Plans

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Defined Contribution and Defined Benefit Plans
 12 Months Ended
Feb. 29, 2012
Defined Contribution and Defined Benefit Plans [Abstract]  
DEFINED CONTRIBUTION AND DEFINED BENEFIT PLANS
14. DEFINED CONTRIBUTION AND DEFINED BENEFIT PLANS:

Defined contribution plans –

The Company has several defined contribution plans which cover substantially all of its U.S., New Zealand and Canadian employees, excluding primarily those employees covered by collective bargaining agreements in the U.S. Prior to the CWAE Divestiture, the Company also had various defined contribution plans covering substantially all of its Australian and U.K. employees. Company contributions under these defined contribution plans were $11.0 million, $20.6 million and $23.8 million for the years ended February 29, 2012, February 28, 2011, and February 28, 2010, respectively.

Defined benefit pension plans –

The Company also has various defined benefit pension plans which cover certain of its Canadian employees. Prior to the CWAE Divestiture, the Company also had defined benefit pension plans covering certain of its U.K. and Australian employees. The Company’s defined benefit pension plans were not material as of February 29, 2012, and February 28, 2011.

Net periodic benefit cost reported in the Consolidated Statements of Operations for all of the Company’s defined benefit pension plans was $4.3 million, $121.8 million and $4.3 million for the years ended February 29, 2012, February 28, 2011, and February 28, 2010, respectively. For the year ended February 28, 2011, in connection with the January 2011 CWAE Divestiture, the Company recognized settlement losses of $109.9 million associated with the settlement of the related pension obligations.

As of February 29, 2012, and February 28, 2011, the actuarial present value of the Company’s defined benefit pension benefit obligation was $96.5 million and $86.1 million, respectively, with plan assets valued at $79.4 million and $75.7 million, respectively. The Company’s defined benefit pension plan assets consist primarily of equity securities from quoted prices in active markets (Level 1 fair value measurement).