Revenue, Receivables and Contract Assets and Liabilities (Tables)

12 Months Ended

Feb. 26, 2022

Revenue from Contract with Customer [Abstract]

Disaggregated revenue data

The following table disaggregates total revenue by timing of recognition (see Note 15 for disclosure of revenue by segment):

(In thousands)	February 26, 2022		February 27, 2021		February 29, 2020
Recognized at shipment	$	551,252	$	504,583	$	610,049
Recognized over time	762,725		726,191		777,390
Total	$	1,313,977	$	1,230,774	$	1,387,439

Net receivables

(In thousands)	2022		2021
Trade accounts	$	129,085	$	120,534
Construction contracts	12,857		12,163
Contract retainage	28,782		45,167
Total receivables	170,724		177,864
Less: allowance for credit losses	2,132		1,947
Receivables, net	$	168,592	$	175,917

Allowance for Credit Losses

The following table summarizes the activity in the allowance for credit losses:

(In thousands)	2022		2021
Beginning balance	$	1,947	$	2,469
Additions charged to costs and expenses	729		389
Deductions from allowance, net of recoveries	(514)		(887)
Other deductions	(30)		(24)
Ending balance	$	2,132	$	1,947

Contract assets and liabilities

(In thousands)	February 26, 2022		February 27, 2021
Contract assets	$	59,185	$	74,664
Contract liabilities	11,373		25,000

The change in contract assets and contract liabilities was due to timing of project activity from businesses that operate under long-term contracts.

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 26, 2022
Within one year	$	518,213
Within two years	213,531
Beyond two years	58,080
Total	$	789,824