Restructuring and Other Related Costs (Notes)

12 Months Ended

Feb. 28, 2019

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

Restructuring and Other Related Costs

During fiscal year 2019, as part of the Company's ongoing efforts to eliminate redundancies in its Metal Coatings segment, the Company consolidated two galvanizing facilities located in the Gulf Coast region of the United States. As a result of the consolidation, the Company recognized restructuring and other related costs of $1.3 million in fiscal 2019, comprised of $0.8 million for fixed asset impairments and $0.5 million for employee severance and other disposal costs. All costs were recognized within cost of sales in the consolidated statement of income.

During fiscal year 2017, the Company undertook a review of its operations to optimize the financial performance of its operating assets. As a result, the Company recognized $7.9 million of restructuring and other related charges in fiscal 2017. Fixed asset impairment and other charges of $6.6 million were recorded to cost of sales in the consolidated statement of income related to the disposition of certain fixed assets within the Metal Coatings segment as part of the closing and conversion of various plants. The Company also recorded restructuring charges of $1.3 million within selling, general and administrative expense for costs related to employee severance associated with changes to improve management efficiency in the Energy and Metal Coatings segments.

The following table provides a summary of the restructuring activities and related liabilities recorded within accrued liabilities (in thousands):

Balance at February 29, 2016	$	61
Restructuring and other related costs	7,862
Non-cash adjustments	(6,602		)
Cash payments	(1,014		)
Balance at February 28, 2017	$	307
Restructuring and other related costs	—
Cash payments	(307		)
Balance at February 28, 2018	$	—
Restructuring and other related costs	1,301
Non-cash adjustments	(810		)
Cash payments	(491		)
Balance at February 28, 2019	$	—