Goodwill and Intangible Assets (Tables)

12 Months Ended

Feb. 28, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in goodwill by segment for fiscal years 2025 and 2024 were as follows (in thousands):

 

	As of February 28, 2025
Segment	Beginning Balance		Acquisitions		Currency Translation Adjustment		Ending Balance
Metal Coatings	$	177,675	$	—	$	(1,605)	$	176,070
Precoat Metals	527,793		—		—		527,793
Total	$	705,468	$	—	$	(1,605)	$	703,863

	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

(1) Represents the purchase price adjustments during the measurement period for the Precoat acquisition.

Schedule of Finite-Lived Intangible Assets by Major Class

Amortizable intangible assets consisted of the following as of February 28, 2025 and February 29, 2024 (in thousands):

		As of
	Weighted-Average Life (Years)	February 28, 2025		February 29, 2024
Customer related intangibles	25	$	474,234	$	475,441
Non-compete agreements	15	6,698		6,793
Trademarks / Tradenames	34	35,774		35,774
Technology	15	36,000		36,000
Gross intangible assets		552,706		554,008
Less accumulated amortization		(132,361)		(110,078)
Total amortizable intangible assets, net		$	420,345	$	443,930

In addition to its amortizable intangible assets, we have recorded indefinite-lived intangible assets of $1.5 million on the consolidated balance sheets as of February 28, 2025 and February 29, 2024, related to certain tradenames acquired as part of prior business acquisitions.

Finite-lived Intangible Assets Amortization Expense

The following table outlines the classification of amortization expense in the consolidated statements of income for fiscal 2025, 2024, and 2023 (in thousands):

	Year Ended
	February 28, 2025		February 29, 2024		February 28, 2023
Cost of sales	$	—	$	—	$	7,124
Selling, general and administrative	23,111		23,960		15,489
Total amortization expense	$	23,111	$	23,960	$	22,613

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):

Fiscal Year:	Amortization Expense
2026	$	22,460
2027	22,454
2028	21,527
2029	21,370
2030	21,370
Thereafter	311,164
Total	$	420,345