Realignment (Notes)

9 Months Ended

Nov. 30, 2016

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Activities Disclosure [Text Block]

Realignment Costs

As part of its ongoing efforts to optimize cost and effectiveness, during the second quarter of fiscal 2017, the Company undertook a review of its operations in order to optimize financial performance of its operating assets. As a result, the Company recognized $8.0 million of realignment charges in the second quarter of fiscal 2017. A total of $6.7 million was included in Cost of Sales for the disposition and write off of certain fixed assets within the Galvanizing Segment, including the cost of closing two plants, the write off of certain assets related to the conversion of a third plant from a standard galvanizing plant to a galvanized rebar plant, and the cost of writing off certain other functionally obsolete assets across other galvanizing plants during the second quarter. We also reserved $1.3 million in Selling, General and Administrative Expense for realignment costs related to one-time employee severance associated with changes needed to improve management efficiency in the Energy and Galvanizing Segments.

The following table shows changes in the realignment accrual for the nine months ended November 30, 2016:

	Realignment Accrual
	(unaudited)
	(in thousands)
Realignment reserve balance as of February 29, 2016	$	61
Additions to reserve	1,260
Realignment costs utilized	(890		)
Realignment reserve balance as of November 30, 2016	$	431