Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 29, 2020

Feb. 28, 2019

Accounting Policies [Abstract]

Schedule of Changes in Contract Liabilities

The following table shows the changes in contract liabilities for fiscal year 2020 and 2019 (in thousands):

	2020			2019
Balance at beginning of period	$	56,928		$	22,698
Contract liabilities added during the period	14,292			54,331
Revenue recognized during the period	(52,802		)	(20,101		)
Balance at end of period	$	18,418		$	56,928

Disaggregation of Revenue

Disaggregated Revenue

Revenue by segment and geography is disclosed in Note 12. In addition, the following table presents disaggregated revenue by customer industry (in thousands):

	2020		2019		2018
Net sales:
Industrial - oil and gas, construction, and general	$	605,236	$	526,465	$	461,945
Transmission and distribution	254,836		212,433		194,503
Power generation	201,745		188,189		153,982
Total net sales	$	1,061,817	$	927,087	$	810,430

Property, Plant and Equipment

Depreciation is computed using the straight-line method over the estimated useful lives of the related assets as follows:

Buildings and structures	10-25 years
Machinery and equipment	3-15 years
Furniture and fixtures	3-15 years
Automotive equipment	3 years
Computers and software	3-7 years

Property, Plant and Equipment

Property, plant and equipment consisted of the following as of February 29, 2020 and February 28, 2019 (in thousands):

	2020			2019
Land	$	21,826		$	21,677
Building and structures	162,851			156,447
Machinery and equipment	252,726			245,588
Furniture, fixtures, software and computers	28,938			27,075
Automotive equipment	4,394			3,766
Construction in progress	16,466			13,065
	487,201			467,618
Less accumulated depreciation	(274,097		)	(257,391		)
Net property, plant, and equipment	$	213,104		$	210,227

Schedule of Warranty Reserve

The following table shows the changes in the Company’s accrued warranties for fiscal year 2020, 2019 and 2018 (in thousands):

	2020			2019			2018
Balance at beginning of period	$	1,751		$	2,013		$	2,098
Warranty costs incurred	(2,118		)	(2,195		)	(2,225		)
Additions charged to income	4,069			1,933			2,140
Balance at end of period	$	3,702		$	1,751		$	2,013

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The components of accumulated other comprehensive loss consisted of the following as of February 29, 2020 and February 28, 2019 (in thousands):

	2020			2019
Foreign currency translation adjustments	$	(30,949	)	$	(28,856	)
Interest rate swap	50			104
Accumulated other comprehensive loss	$	(30,899	)	$	(28,752	)