Acquisitions (Tables)

12 Months Ended

Feb. 29, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of assets acquired and liabilities assumed

	May 13, 2022		Measurement Period Adjustments		As Adjusted
Assets
Accounts receivable, net	$	77,422	$	—	$	77,422
Inventories	43,369		—		43,369
Contract assets	70,731		(2,417)		68,314
Prepaid expenses and other	2,247		—		2,247
Property, plant and equipment	305,503		—		305,503
Right-of-use assets	13,753		—		13,753
Goodwill	524,816		2,977		527,793
Deferred tax asset	8,660		—		8,660
Intangible assets, net	446,000		—		446,000
Other assets	546		—		546
Total fair value of assets acquired	$	1,493,047	$	560	$	1,493,607
Liabilities
Accounts payable	99,223		—		99,223
Accrued expenses	31,201		560		31,761
Other accrued liabilities	5,330		—		5,330
Lease liability, short-term	2,440		—		2,440
Lease liability, long-term	11,313		—		11,313
Deferred tax liabilities	3,100		(3,100)		—
Other long-term liabilities	56,991		3,100		60,091
Total fair value of liabilities assumed	$	209,598	$	560	$	210,158
Total purchase price, net of cash acquired	$	1,283,449	$	—	$	1,283,449

The following table represents the summary of the assets acquired and liabilities assumed, in aggregate, related to the DAAM acquisition, as of the date of the acquisition (in thousands):

	February 28, 2022
Assets
Accounts receivable	$	3,082
Other receivables	171
Inventories	2,451
Property, plant and equipment	11,462
Goodwill	13,691
Intangibles and other assets	9,975
Total fair value of assets acquired	$	40,832
Liabilities
Accounts payable and other accrued liabilities	3,910
Deferred tax liabilities	1,422
Total fair value of liabilities assumed	$	5,332
Total purchase price, net of cash acquired	$	35,500

The following table summarizes the fair values of the allocation of assets acquired and liabilities assumed, in aggregate, related to the Steel Creek acquisition, as of the date of the acquisition (in thousands):

	January 3, 2022
Assets
Accounts receivable	$	575
Inventories	3,593
Property, plant and equipment	15,796
Intangibles	872
Goodwill	7,755
Total fair value of assets acquired	$	28,591
Liabilities
Accounts payable and other accrued liabilities	765
Contingent consideration	2,826
Total fair value of liabilities assumed	$	3,591
Total purchase price, net of cash acquired	$	25,000

Pro forma information

	Year Ended February 28,
	2023		2022
Sales	$	1,516,669	$	1,265,953
Net income from continuing operations (1)	85,440		62,167
(1) Net income for the year ended February 28, 2022 includes acquisition costs of approximately $45.0 million, of which     $11.5 million was incurred by AZZ and $33.5 million was incurred by Precoat Metals prior to the acquisition.