Restructuring and Related Activities (Tables)

6 Months Ended

Aug. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

In the second quarter of 2021, we recorded certain earnings charges related to our restructuring activities, which are summarized in the table below:

	Metal Coatings		Infrastructure Solutions		Total
Write down on assets held for sale to estimated sales price	$	3,161	$	4,100	$	7,261
Write down of assets expected to be abandoned	6,965		—		6,965
Loss on sale of subsidiary	1,198		—		1,198
Write down of excess inventory	—		2,511		2,511
Costs associated with assets held for sale	—		758		758
Total charges	$	11,324	$	7,369	$	18,693

The Company recognized the following charges to income from operations related to locations expected to be closed:

	Three Months Ended August 31,				Six months ended August 31,
	2020		2019		2020		2019
	(in thousands)
Inventory write down	$	336	$	—	$	336	$	—
Property & equipment write downs		2,999		—		2,999		—
Intangible write down		3,258		—		3,258		—
Other		372				372
Total	$	6,965	$	—	$	6,965	$	—

Disposal Groups, Including Discontinued Operations

Assets and liabilities allocated to the disposal group are as follows:

Assets
Accounts receivable	$	5,917
Inventories	2,882
Contract assets			4,140
Other current assets	141
Property, plant and equipment	5,562
Other assets			1,580
Goodwill	3,955
Liabilities
Accounts payable	1,289
Contract liabilities	1,861
Other accrued liabilities	1,593
Lease liability – long term	1,354
Total carrying value	$		18,080
Less: Impairment of carrying value			7,261
Fair value of disposal group	$	10,819