Sales

3 Months Ended

May 31, 2021

Revenues [Abstract]

Sales

Sales

Disaggregated Sales

The following table presents disaggregated sales by customer industry (in thousands):

	Three Months Ended May 31,
	2021		2020
Sales:
Industrial	$	153,983	$	130,109
Transmission and distribution	43,667		49,057
Power generation	32,176		34,127
Total sales	$	229,826	$	213,293

See Note 4 for sales information by segment.

Contract Liabilities

The following table shows the changes in contract liabilities for the three months ended May 31, 2021 and 2020, respectively (in thousands):

	2021		2020
Balance at February 28/29,	$	16,138	$	18,418
Contract liabilities added during the period	12,375		4,796
Sales recognized during the period	(11,415)		(5,849)
Balance at May 31,	$	17,098	$	17,365

The Company did not record any sales for the three months ended May 31, 2021 or 2020 related to performance obligations satisfied in prior periods. The increases or decreases in accounts receivable, contract assets, and contract liabilities during the three months ended May 31, 2021 and 2020 were due primarily to normal timing differences between the Company’s performance and customer payments in fiscal 2021.

The Company expects to recognize sales, related to the $17.1 million balance of contract liabilities as of May 31, 2021 of approximately $12.1 million, $4.7 million, $0.2 million and $0.1 million in fiscal 2022, 2023, 2024 and 2025, respectively.