Operating Segments

12 Months Ended

Feb. 28, 2021

Segment Reporting [Abstract]

Operating Segments

Operating Segments

Segment Information

The Company’s Chief Executive Officer, who is the chief operating decision maker (“CODM”), reviews financial information presented on an operating segment basis for purposes of making operating decisions and assessing financial performance. Sales and operating income (loss) are the primary measures used by the CODM to evaluate segment operating performance and to allocate resources to segments. Expenses related to certain centralized administration or executive functions that are not specifically related to an operating segment are included in Corporate.

A summary of each of the Company's reportable segments is as follows:

Metal Coatings - provides hot dip galvanizing, powder coating, anodizing and plating, and other surface coating applications to the steel fabrication and other industries through facilities located throughout the United States and Canada.

Infrastructure Solutions - provides specialized products and services designed to support industrial and electrical applications. This segment's product offerings include custom switchgear, electrical enclosures, medium and high voltage bus ducts, explosion proof and hazardous duty lighting and tubular products. In addition, this segment focuses on extension of life cycle for the power generation, refining and industrial infrastructure, through automated weld overlay solutions for corrosion and erosion mitigation.

The following tables show information by reportable segment for fiscal years 2021, 2020 and 2019 (in thousands):

	2021		2020		2019
Sales:
Metal Coatings	$	457,791	$	498,989	$	440,264
Infrastructure Solutions	381,126		562,828		486,823
Total sales	$	838,917	$	1,061,817	$	927,087
Operating income (loss):
Metal Coatings	$	95,946	$	107,926	$	83,591
Infrastructure Solutions(1)	6,487		32,845		31,332
Corporate	(40,819)		(42,796)		(37,967)
Loss on disposal of business	—		(18,632)		—
Total operating income	$	61,614	$	79,343	$	76,956

(1) Operating income for the Infrastructure Solutions segment for fiscal 2020 includes impairment charges of $9.2 million, of

which $7.2 million are included in Selling, general and administrative expense, and $2.0 million are included in Cost of

sales.

	2021		2020		2019
Depreciation and amortization:
Metal Coatings	$	29,930	$	30,042	$	29,124
Infrastructure Solutions	12,978		18,414		19,405
Corporate	1,695		1,738		1,716
Total	$	44,603	$	50,194	$	50,245

	2021		2020		2019
Expenditures for acquisitions, net of cash, and property, plant and equipment:
Metal Coatings	$	29,305	$	81,340	$	15,238
Infrastructure Solutions	9,619		9,158		14,475
Corporate	2,574		2,725		2,902
Total	$	41,498	$	93,223	$	32,615

Asset information by segment was as follows as of February 28, 2021 and February 29, 2020 (in thousands):

	2021		2020
Assets:
Metal Coatings	$	480,778	$	504,632
Infrastructure Solutions	489,986		548,032
Corporate	25,678		21,167
Total assets	$	996,442	$	1,073,831

Financial Information About Geographical Areas

Financial information about geographical areas for the periods presented was as follows for fiscal years 2021, 2020 and 2019 (in thousands):

	2021		2020		2019
Sales:
United States	$	711,696	$	850,656	$	785,194
International	127,221		211,161		141,893
Total	$	838,917	$	1,061,817	$	927,087

 

	2021		2020
Property, plant and equipment, net:
United States	$	180,718	$	190,365
Canada	15,007		16,385
Other countries	10,184		6,354
Total	$	205,909	$	213,104