Goodwill and Intangible Assets (Notes)

12 Months Ended

Feb. 28, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill is not amortized but is subject to annual impairment tests. Other intangible assets are amortized over their estimated useful lives.

Changes in goodwill by segment during the year are as follows:



Segment	March 1, 2014		Acquisitions		Foreign Exchange Translation			February 28, 2015
	(In thousands)
Galvanizing Services	$	94,731	$	3,306	$	(2,499	)	$	95,538
Energy	183,825		807		(1,096		)	183,536
Total	$	278,556	$	4,113	$	(3,595	)	$	279,074



Segment	March 1, 2013		Acquisitions		Foreign Exchange Translation			February 28, 2014
	(In thousands)
Galvanizing Services	$	96,735	$	—	$	(2,004	)	$	94,731
Energy	75,151		109,636		(962		)	183,825
Total	$	171,886	$	109,636	$	(2,966	)	$	278,556

The Company completes its annual impairment analysis of goodwill on December 31st of each year. As a result, the Company determined that there was no impairment of goodwill.

Amortizable intangible assets consisted of the following as of February 28:



	2015			2014
	(In thousands)
Amortizable intangible assets
Customer related intangibles	$	159,235		$	158,913
Non-compete agreements	5,715			5,037
Trademarks	5,042			5,110
Technology	7,400			7,400
Certifications	209			232
Engineering drawings	24,600			24,600
Backlog	8,355			8,440
	210,556			209,732
Less accumulated amortization	(56,699		)	(39,300		)
	$	153,857		$	170,432

The Company recorded amortization expense of $18.0 million, $18.2 million and $10.0 million for fiscal 2015, 2014 and 2013, respectively. The following table projects the estimated amortization expense for the five succeeding fiscal years and thereafter.



	(In thousands)
2016	$	15,666
2017	15,402
2018	14,812
2019	14,136
2020	13,666
Thereafter	80,175
Total	$	153,857

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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