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Goodwill and Intangible Assets (Tables)

12 Months Ended

Feb. 28, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in goodwill by segment for fiscal years 2023 and 2022 were as follows (in thousands):


2023
Segment	Beginning Balance		Acquisitions		Divestiture		Other		Currency Translation Adjustment		Ending Balance
Metal Coatings(1)	$	190,391	$	—	$	—	$	(10,783)	$	(1,912)	$	177,696
Precoat Metals	—		524,816		—		—		—		524,816
Total	$	190,391	$	524,816	$	—	$	(10,783)	$	(1,912)	$	702,512
(1) The decrease in Other for fiscal year 2023 represents purchase price adjustments during the measurement period for the DAAM acquisition, which occurred in fiscal year 2022.


2022
Segment	Beginning Balance		Acquisitions		Divestiture		Other		Currency Translation Adjustment		Ending Balance
Metal Coatings	$	158,659	$	32,389	$	—	$	(477)	$	(180)	$	190,391

Schedule of Finite-Lived Intangible Assets by Major Class

Amortizable intangible assets consisted of the following as of February 28, 2023 and February 28, 2022 (in thousands):


	Weighted-Average Life (Years)	2023		2022
Customer related intangibles	22	$	475,457	$	89,029
Non-compete agreements	15	6,795		6,799
Trademarks / Tradenames	33	35,774		3,773
Technology	15	36,000		—



Gross intangible assets		554,026		99,601
Less accumulated amortization		(86,139)		(64,282)
Total amortizable intangible assets, net		$	467,887	$	35,319

Finite-lived Intangible Assets Amortization Expense

The following table outlines the classification of amortization expense from continuing operations in the statements of income for fiscal 2023, 2022, and 2021 (in thousands):


	Year Ended February 28,
	2023		2022		2021
Cost of sales	$	7,124	$	6,658	$	6,781
Selling, general and administrative	15,489		—		—
Total amortization expense	$	22,613	$	6,658	$	6,781

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following summarizes the estimated amortization expense for the next five fiscal years and beyond (in thousands):



2024	$	23,346
2025	22,847
2026	22,817
2027	22,726
2028	21,637
Thereafter	354,514
Total	$	467,887