Segments

3 Months Ended

May 31, 2021

Segment Reporting [Abstract]

Segments

Operating Segments

Segment Information

The Company has two distinct operating segments: the Metal Coatings segment and the Infrastructure Solutions segment.

The Metal Coatings segment provides hot dip galvanizing, spin galvanizing, powder coating, anodizing and plating, and other metal coating applications to the steel fabrication and other industries through facilities located throughout the United States and Canada. Hot dip galvanizing is a metallurgical process in which molten zinc reacts to steel. The zinc alloying provides corrosion protection to fabricated steel for extended periods of up to 50 years.

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

Sales and operating income by segment for each period were as follows (in thousands):

	Three Months Ended May 31,
	2021		2020
Sales:
Metal Coatings	$	127,735	$	118,991
Infrastructure Solutions	102,091		94,302
Total sales	$	229,826	$	213,293
Operating income:
Metal Coatings	$	31,576	$	25,085
Infrastructure Solutions	9,624		(1,048)
Corporate	(10,488)		(9,719)
Total operating income	$	30,712	$	14,318

Asset balances by segment for each period were as follows (in thousands):

	May 31, 2021		February 28, 2021
Total assets:
Metal Coatings	$	490,326	$	480,778
Infrastructure Solutions	521,428		489,986
Corporate	27,485		25,678
Total	$	1,039,239	$	996,442

Financial Information About Geographical Areas

The following table presents sales by geographic region for each period (dollars in thousands):

	Three Months Ended May 31,
	2021		2020
Sales:
United States	$	191,116	$	190,842
International	38,710		22,451
Total	$	229,826	$	213,293

The following table presents fixed assets by geographic region for each period (dollars in thousands):

	May 31, 2021		February 28, 2021
Property, plant and equipment, net:
United States	$	180,004	$	180,718
Canada	14,953		15,007
Other countries	12,732		10,184
Total	$	207,689	$	205,909