Operating segments (Notes)

12 Months Ended

Feb. 28, 2013

Segment Reporting [Abstract]

Operating segments

Operating segments

The Company has two reportable segments: (1) Electrical and Industrial Products and Services and (2) Galvanizing Services. The Electrical and Industrial Products and Services Segment provides highly engineered specialty components to the power generation transmission and distribution market and to the industrial market. In addition, our Electrical and Industrial Products and Services Segment provides electrical and mechanical equipment and services enhancing the safety of nuclear facilities. The Galvanizing Services Segment provides hot dip galvanizing services to the steel fabrication industry through facilities located throughout the South, Midwest, East Coast and Southwest of the United States and in the Canadian provinces of Quebec, Ontario and Nova Scotia. Hot dip galvanizing is a metallurgical process by which molten zinc is applied to a customer’s material. The zinc bonding renders a corrosive resistant coating enhancing the life of the material for up to fifty years.

Information regarding operations and assets by segment was as follows:

	2013			2012			2011
Net sales:	(In thousands)
Electrical and Industrial Products and Services	$	233,555		$	189,192		$	162,600
Galvanizing Services	337,039			279,920			218,049
	$	570,594		$	469,112		$	380,649
Segment Operating income (a):
Electrical and Industrial Products and Services	$	34,228		$	25,772		$	27,072
Galvanizing Services	87,807			72,964			56,965
Total Segment Operating Income	122,035			98,736			84,037
General corporate expenses (b)	23,706			21,636			21,492
Interest expense	13,073			13,939			7,731
Other (income) expense, net (c)	(9,113		)	(480		)	(144		)
	27,666			35,095			29,079
Income before income taxes	$	94,369		$	63,641		$	54,958
Depreciation and amortization:
Electrical and Industrial Products and Services	$	8,587		$	3,317		$	3,396
Galvanizing Services	19,501			17,783			17,004
Corporate	1,275			1,495			1,766
	$	29,363		$	22,595		$	22,166
Expenditures for acquisitions, net of cash, and property, plant and equipment:
Electrical and Industrial Products and Services	$	79,513		$	3,161		$	1,282
Galvanizing Services	81,604			43,298			117,746
Corporate	864			688			1,474
	$	161,981		$	47,147		$	120,502
Total assets:
Electrical and Industrial Products and Services	$	260,874		$	143,208		$	136,381
Galvanizing Services	370,142			309,808			277,366
Corporate	63,189			153,759			152,778
	$	694,205		$	606,775		$	566,525
Goodwill:
Electrical and Industrial Products and Services	$	75,151		$	43,331		$	43,492
Galvanizing Services	96,735			78,053			69,971
	$	171,886		$	121,384		$	113,463

(a) Segment operating income consisted of net sales less cost of sales, specifically identifiable selling, general and administrative expenses and other income and expense items that are specifically identifiable to a segment.

(b) General Corporate Expense consisted of selling, general and administrative expenses that are not specifically identifiable to a segment.

(c) Other (income) expense, net included gains and losses on sale of property, plant and equipment and other (income) expenses not specifically identifiable to a segment.