Segments

6 Months Ended

Aug. 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 August 31,				Six Months Ended August 31,
	2021		2020		2021		2020
Sales:
Metal Coatings	$	129,593	$	117,037	$	257,328	$	236,027
Infrastructure Solutions	86,854		86,335		188,945		180,637
Total sales	$	216,447	$	203,372	$	446,273	$	416,664
Operating income:
Metal Coatings	$	31,589	$	15,600	$	63,165	$	40,684
Infrastructure Solutions	7,024		(4,310)		16,648		(5,358)
Corporate	(12,085)		(10,638)		(22,573)		(20,357)
Total operating income	$	26,528	$	652	$	57,240	$	14,969

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

	August 31, 2021		February 28, 2021
Total assets:
Metal Coatings	$	488,301	$	480,778
Infrastructure Solutions	505,602		489,986
Corporate	29,335		25,678
Total	$	1,023,238	$	996,442

Financial Information About Geographical Areas

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

	Three Months Ended August 31,				Six Months Ended August 31,
	2021		2020		2021		2020
Sales:
United States	$	192,471	$	170,651	$	383,586	$	359,733
International	23,976		32,721		62,687		56,931
Total	$	216,447	$	203,372	$	446,273	$	416,664

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

	August 31, 2021		February 28, 2021
Property, plant and equipment, net:
United States	$	179,476	$	180,718
Canada	12,124		15,007
Other countries	10,620		10,184
Total	$	202,220	$	205,909