Goodwill and Intangible Assets (Tables)

12 Months Ended

Feb. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in goodwill by segment for fiscal years 2024 and 2023 were as follows (in thousands):

As of February 29, 2024
Segment	Beginning Balance		Acquisitions(1)		Currency Translation Adjustment		Ending Balance
Metal Coatings	$	177,696	$	—	$	(21)	$	177,675
Precoat Metals	524,816		2,977		—		527,793
Total	$	702,512	$	2,977	$	(21)	$	705,468

As of February 28, 2023
Segment	Beginning Balance		Acquisitions(1)		Currency Translation Adjustment		Ending Balance
Metal Coatings	$	190,391	$	(10,783)	$	(1,912)	$	177,696
Precoat Metals	—		524,816		—		524,816
Total	$	190,391	$	514,033	$	(1,912)	$	702,512
(1) The increase in Acquisitions for fiscal year 2024 and 2023 represents purchase price adjustments during the measurement period for the Precoat acquisition. The decrease in Acquisitions for fiscal year 2023 for the Metal Coatings segment represents purchase price adjustments for the DAAM acquisition.

Schedule of Finite-Lived Intangible Assets by Major Class

Amortizable intangible assets consisted of the following as of February 29, 2024 and February 28, 2023 (in thousands):

	Weighted-Average Life (Years)	As of February 29/28,
		2024		2023
Customer related intangibles	23	$	475,441	$	475,457
Non-compete agreements	15	6,793		6,795
Trademarks / Tradenames	34	35,774		35,774
Technology	15	36,000		36,000
Gross intangible assets		554,008		554,026
Less accumulated amortization		(110,078)		(86,139)
Total amortizable intangible assets, net		$	443,930	$	467,887

Finite-lived Intangible Assets Amortization Expense

The following table outlines the classification of amortization expense in the consolidated statements of income for fiscal 2024, 2023, and 2022 (in thousands):

	Year Ended February 29/28,
	2024		2023		2022
Cost of sales	$	—	$	7,124	$	6,658
Selling, general and administrative	23,961		15,489		—
Total amortization expense	$	23,961	$	22,613	$	6,658

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

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

2025	$	22,747
2026	22,717
2027	22,711
2028	21,555
2029	21,403
Thereafter	332,797
Total	$	443,930