Business Segment Data

12 Months Ended

Mar. 01, 2025

Segment Reporting [Abstract]

Business Segment Data

Business Segment Data

We have four operating segments which are also reportable segments. Each of our four segments have distinct economic characteristics, including products and services provided, production processes and varying ranges in performance and results:

•The Architectural Metals Segment designs, engineers, fabricates and finishes aluminum window, curtainwall, storefront and entrance systems used primarily in non-residential construction.

•The Architectural Services Segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install architectural curtainwall and other façade-related systems primarily in non-residential construction.

•The Architectural Glass Segment cuts, treats, coats and fabricates high-performance glass used in custom window and wall systems primarily for non-residential buildings.

•The Performance Surfaces Segment develops and manufactures high-performance coated materials for a variety of applications, including wall decor, museums, graphic design, digital displays, architectural interiors, and industrial flooring.

The Company’s CEO is the chief operating decision maker (CODM). The CODM utilizes net sales and adjusted earnings before interest and taxes (EBIT) to assess segment performance and make decisions about the allocation of operating and capital resources by analyzing recent results, trends, and variances of each segment in relation to forecasts and historical performance.

Net sales, adjusted cost of sales, adjusted SG&A, adjusted other income (expense), and the resulting adjusted EBIT for each of the Company’s four reportable segments are presented below. Segment net sales is defined as net sales for a certain segment and includes revenue related to intersegment transactions. We report net sales intersegment eliminations separately to exclude these sales from our consolidated total. Segment EBIT includes intersegment sales transactions and excludes certain corporate costs that are not allocated at a segment level. We report these unallocated corporate costs in Corporate and Other.

(In thousands)	Architectural Metals		Architectural Services		Architectural Glass		Performance Surfaces		Total
52-Weeks Ended March 1, 2025
Net sales to external customers	$	524,617	$	419,861	$	294,385	$	122,131	$	1,360,994
Intersegment net sales	92		—		27,812		—		27,904
	524,709		419,861		322,197		122,131		1,388,898
Adjusted cost of sales (1)	(373,902)		(344,702)		(220,636)		(76,487)		(1,015,727)
Adjusted SG&A (2)	(96,687)		(45,604)		(42,287)		(21,505)		(206,083)
Adjusted other income (expense), net (3)	—		—		115		—		115
Adjusted EBIT	$	54,120	$	29,555	$	59,389	$	24,139	$	167,203
53-Weeks Ended March 2, 2024
Net sales to external customers	$	598,248	$	377,443	$	342,028	$	99,223	$	1,416,942
Intersegment net sales	3,488		979		36,421		—		40,888
	601,736		378,422		378,449		99,223		1,457,830
Adjusted cost of sales (1)	(425,424)		(323,761)		(267,469)		(60,636)		(1,077,290)
Adjusted SG&A (2)	(105,509)		(40,295)		(42,934)		(14,354)		(203,092)
Adjusted other income (expense), net (3)	—		—		(2,263)		—		(2,263)
Adjusted EBIT	$	70,803	$	14,366	$	65,783	$	24,233	$	175,185
52-Weeks Ended February 25, 2023
Net sales to external customers	$	647,949	$	408,566	$	279,966	$	104,215	$	1,440,696
Intersegment net sales	1,829		2,061		36,588		—		40,478
	649,778		410,627		316,554		104,215		1,481,174
Adjusted cost of sales (1)	(463,902)		(352,372)		(247,073)		(64,565)		(1,127,912)
Adjusted SG&A (2)	(104,002)		(40,115)		(40,872)		(14,303)		(199,292)
Adjusted other income (expense), net (3)	—		—		(47)		—		(47)
Adjusted EBIT	$	81,874	$	18,140	$	28,562	$	25,347	$	153,923

(1)	Adjusted cost of sales excludes $4.2 million and $5.5 million of adjustments related to acquisition and restructuring costs as described in more detail within the reconciliation presented below, respectively, for the years ended March 1, 2025 and March 2, 2024.
(2)	Adjusted SG&A expenses excludes $11.5 million and $3.0 million of adjustments related to acquisition and restructuring costs and impairment expense as described in more detail within the reconciliation presented below, respectively, for the years ended March 1, 2025 and March 2, 2024.
(3)	Adjusted Other (income) expense, net excludes $4.7 million of NMTC benefit recorded for the year ended March 2, 2024 as described in more detail within the reconciliation presented below.

The following table presents the reconciliation of adjusted EBIT to income before income taxes, the nearest measurement under GAAP:

(In thousands)	2025		2024		2023
Segment Adjusted EBIT	$	167,203	$	175,185	$	153,923
Corporate and Other expenses	(32,772)		(35,454)		(29,642)
Segment acquisition-related costs (1)	(4,529)		—		—
Segment restructuring costs (2)	(3,535)		(8,496)		—
Impairment expense (3)	(7,634)		—		—
NMTC settlement gain (4)	—		4,687		—
Interest expense, net	(6,159)		(6,669)		(7,660)
Earnings before income taxes	$	112,574	$	129,253	$	116,621

(1)	Segment acquisition-related costs include: •Transaction costs related to the UW Solutions acquisition. •Integration costs related to one-time expenses incurred to integrate the UW Solutions acquisition. •Backlog amortization is related the value attributed to contracting the backlog purchased in the UW Solutions acquisition. These costs were amortized in SG&A over the period that the contracted backlog was shipped. •Inventory step-up is related to the incremental cost to value inventory acquired as part of the UW Solutions acquisition at fair value. These costs were expensed to cost of goods sold over the period the inventory was sold.
(2)	Segment restructuring charges related to Project Fortify. Refer to Note 18.
(3)	Impairment expense on intangible assets in the Architectural Metals Segment. Refer to Note 6.
(4)	Realization of a NMTC benefit which was recorded in other income (expense), net. Refer to Note 10.

The following table presents the capital expenditures, depreciation and amortization and identifiable assets by reportable segments and the reconciliation to amounts reported for GAAP:

(In thousands)	Architectural Metals		Architectural Services		Architectural Glass		Performance Surfaces		Corporate and Other		Total
Fiscal 2025
Capital expenditures	$	3,333	$	7,522	$	13,782	$	9,479	$	1,477	$	35,593
Depreciation and amortization	16,471		3,978		12,274		9,085		2,800		44,608
Identifiable assets	343,553		179,311		213,067		345,034		94,304		1,175,269
Fiscal 2024
Capital expenditures	$	4,733	$	3,166	$	12,142	$	16,896	$	6,243	$	43,180
Depreciation and amortization	19,226		4,011		11,955		3,040		3,356		41,588
Identifiable assets	363,512		131,651		208,651		83,731		96,519		884,064
Fiscal 2023
Capital expenditures	$	11,432	$	3,683	$	5,613	$	13,474	$	10,975	$	45,177
Depreciation and amortization	19,386		3,953		11,964		3,088		4,012		42,403
Identifiable assets	426,946		141,840		207,730		69,035		69,814		915,365

The following table presents net sales, based on the location in which the sale originated, and long-lived assets, representing property, plant and equipment, net of related depreciation, by geographic region.

(In thousands)	2025		2024		2023
Net Sales
United States	$	1,258,887	$	1,295,436	$	1,301,168
Canada	85,417		101,055		120,565
Brazil	16,690		20,451		18,963
Total	$	1,360,994	$	1,416,942	$	1,440,696

(In thousands)	March 1, 2025		March 2, 2024		February 25, 2023
Long-Lived Assets
United States	$	261,457	$	235,398	$	239,847
Canada	4,984		6,345		6,330
Brazil	1,698		2,473		2,690
Total	$	268,139	$	244,216	$	248,867

Our export net sales from U.S. operations were $54.1 million, $47.6 million and $56.2 million in fiscal 2025, 2024 and 2023, respectively, representing approximately 4%, 3% and 4% of consolidated net sales in each of these fiscal years, respectively. Due to the varying combinations and integration of individual window, storefront and curtainwall systems, it is impractical to report product revenues generated by class of product beyond the segment revenues currently reported.