Sales

9 Months Ended

Nov. 30, 2022

Revenues [Abstract]

Sales

Disaggregated Sales

The following table presents disaggregated sales, for continuing operations, by customer industry (in thousands):

	Three Months Ended November 30,				Nine Months Ended November 30,
	2022		2021		2022		2021
Sales:
Construction	$	205,316	$	32,419	$	493,573	$	91,018
Industrial	37,330		28,367		118,457		87,061
Consumer	29,864		—		78,972		—
Transportation	33,597		24,315		98,715		75,189
Electrical/Utility	26,131		20,262		69,100		55,402
Other (1)	41,063		29,720		128,328		87,062
Total sales	$	373,301	$	135,083	$	987,145	$	395,732
(1) Other includes less significant markets, such as agriculture, recreation, petro-chem, AZZ Tubular products and sales from recycling and other.

See also Note 6 for sales information by operating segment.

Contract Assets and Liabilities

The timing of sales recognition, billings and cash collections results in accounts receivable, contract assets (unbilled receivables), and contract liabilities (customer advances and deposits) on the consolidated balance sheets, primarily related to the AZZ Precoat Metals segment. The Company periodically receives advances or deposits from customers, before sales are recognized, resulting in contract liabilities. These assets and liabilities are reported on the consolidated balance sheets on a contract-by-contract basis at the end of each reporting period.

Contract assets and contract liabilities were $78.6 million and $1.0 million, respectively, as of November 30, 2022. The Company did not record any sales for the three or nine months ended November 30, 2022 or 2021 related to performance obligations satisfied in prior periods.