Sales

9 Months Ended

Nov. 30, 2023

Revenues [Abstract]

Sales

6. 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,
	2023		2022		2023		2022
Sales:
Construction	$	214,081	$	205,316	$	637,035	$	493,573
Industrial	35,489		37,330		118,273		118,457
Consumer	29,384		29,864		99,537		78,972
Transportation	35,871		33,597		107,734		98,715
Electrical/Utility	24,804		26,131		76,116		69,100
Other (1)	41,976		41,063		132,325		128,328
Total Sales	$	381,605	$	373,301	$	1,171,020	$	987,145
(1) Other includes less significant markets, such as agriculture, recreation, petro-chem, AZZ Tubular products and sales from recycling.

See also Note 8 for sales information by operating segment.

Contract Assets and Liabilities

The timing of revenue 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. Our contract assets and contract liabilities are primarily related to the AZZ Precoat Metals segment. Customer billing can occur subsequent to revenue recognition, resulting in contract assets. In addition, the Company can receive advances or deposits from its customers, before revenue is 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.

As of November 30, 2023 and February 28, 2023, the balance for contract assets was $75.7 million and $79.3 million, respectively, primarily related to the AZZ Precoat Metals segment. Contract liabilities of $1.0 million and $1.3 million as of November 30, 2023 and February 28, 2023, respectively, are included in "Other accrued liabilities" in the consolidated balance sheets.