Revenue, Receivables and Contract Assets and Liabilities (Tables)

12 Months Ended

Feb. 29, 2020

Revenue from Contract with Customer [Abstract]

Disaggregated revenue data

The following table disaggregates total revenue by timing of recognition (see Note 16 for disclosure of revenue by segment):

(In thousands)	February 29, 2020		March 2, 2019
Recognized at shipment	$	610,049	$	623,357
Recognized over time	777,390		779,280
Total	$	1,387,439	$	1,402,637

Net receivables

(In thousands)	2020			2019
Trade accounts	$	141,126		$	145,693
Construction contracts	20,808			19,050
Contract retainage	37,341			32,396
Total receivables	199,275			197,139
Less: allowance for doubtful accounts	(2,469		)	(4,372		)
Receivables, net	$	196,806		$	192,767

Contract assets and liabilities

(In thousands)	February 29, 2020		March 2, 2019
Contract assets	$	110,923	$	87,491
Contract liabilities	35,954		24,083

The increase in contract assets was due to additional costs and earnings in excess of billings, which is driven by timing of projects. The change in contract liabilities is also due to timing of project activity from businesses that operate under long-term contracts.

Other contract-related disclosures

(In thousands)	February 29, 2020		March 2, 2019
Revenue recognized related to contract liabilities from prior year-end	$	23,221	$	10,380
Revenue recognized related to prior satisfaction of performance obligations	15,641		5,898

Performance obligations expected to be satisfied

The performance obligations are expected to be satisfied, and the corresponding revenue to be recognized, over the following estimated time periods:

(In thousands)	February 29, 2020
Within one year	$	437,000
Within two years	394,500
Beyond	155,900
Total	$	987,400