XML 64 R52.htm IDEA: XBRL DOCUMENT v3.25.2
Operating Segments (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Aug. 31, 2025
Aug. 31, 2024
Aug. 31, 2025
Aug. 31, 2024
May 31, 2025
Feb. 28, 2025
Operations and assets by segment            
Sales $ 417,275 $ 409,007 $ 839,237 $ 822,215    
Cost of sales 315,983 305,493 633,815 616,031    
Gross margin 101,292 103,514 205,422 206,184    
Selling, general and administrative 32,831 35,868 67,412 68,789    
Operating income (loss) 68,461 67,646 138,010 137,395    
Interest expense, net (13,665) (21,909) (32,228) (44,683)    
Equity in earnings of unconsolidated subsidiaries 59,345 1,478 232,868 5,302    
Other income 188 417 1,515 621    
Income (loss) before income tax 114,329 47,632 340,165 98,635    
Income taxes 24,983 12,213 79,911 23,614    
Net income 89,346 35,419 260,254 75,021    
Depreciation 22,372 20,429 44,199 40,750    
Assets: 2,225,983   2,225,983     $ 2,227,101
Property, plant and equipment, net 603,260   603,260     592,941
Restructuring charges     3,744 0    
Stock-based compensation     2,200      
Distribution on investment in AVAIL joint venture     273,223 5,155    
AIS Joint Venture            
Operations and assets by segment            
Equity in earnings of unconsolidated subsidiaries 165,800          
Equity Method Investment, Aggregate Cost         $ (107,400)  
Distribution on investment in AVAIL joint venture 61,600   227,500      
United States            
Operations and assets by segment            
Sales 404,398 398,658 815,393 801,709    
Property, plant and equipment, net 583,876   583,876     574,332
Canada            
Operations and assets by segment            
Sales 12,877 10,349 23,844 20,506    
Property, plant and equipment, net 19,384   19,384     18,609
Operating Segments            
Operations and assets by segment            
Stock-based compensation     2,200      
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]            
Operations and assets by segment            
Sales 0 0 0 0    
Cost of sales 0 0 0 0    
Gross margin 0 0 0 0    
Selling, general and administrative 19,740 22,563 40,197 40,811    
Operating income (loss) (19,740) (22,563) (40,197) (40,811)    
Interest expense, net (13,665) (21,909) (32,228) (44,683)    
Equity in earnings of unconsolidated subsidiaries 0 0 0 0    
Other income 186 424 1,575 572    
Income (loss) before income tax (33,219) (44,048) (70,850) (84,922)    
Income taxes 24,983 12,213 79,911 23,614    
Net income (58,202) (56,261) (150,761) (108,536)    
Depreciation 6,118 6,105 12,163 12,177    
Assets: 19,616   19,616     24,250
Stock-based compensation     1,800      
Metal Coatings | Operating Segments            
Operations and assets by segment            
Sales 189,984 171,500 377,199 348,152    
Cost of sales 132,923 118,193 263,279 240,929    
Gross margin 57,061 53,307 113,920 107,223    
Selling, general and administrative 5,355 5,619 11,482 11,602    
Operating income (loss) 51,706 47,688 102,438 95,621    
Interest expense, net 0 0 0 0    
Equity in earnings of unconsolidated subsidiaries 0 0 0 0    
Other income 2 (7) (60) 49    
Income (loss) before income tax 51,708 47,681 102,378 95,670    
Depreciation 6,830 6,685 13,490 13,341    
Assets: 597,430   597,430     555,095
Restructuring charges     3,800      
Stock-based compensation     400      
Precoat Metals | Operating Segments            
Operations and assets by segment            
Sales 227,291 237,507 462,038 474,063    
Cost of sales 183,060 187,300 370,536 375,102    
Gross margin 44,231 50,207 91,502 98,961    
Selling, general and administrative 7,710 7,677 15,627 16,338    
Operating income (loss) 36,521 42,530 75,875 82,623    
Interest expense, net 0 0 0 0    
Equity in earnings of unconsolidated subsidiaries 0 0 0 0    
Other income 0 0 0 0    
Income (loss) before income tax 36,521 42,530 75,875 82,623    
Depreciation 9,424 7,639 18,546 15,232    
Assets: 1,548,718   1,548,718     1,548,377
Infrastructure Solutions [Member] | Operating Segments            
Operations and assets by segment            
Sales 0 0 0 0    
Cost of sales 0 0 0 0    
Gross margin 0 0 0 0    
Selling, general and administrative 26 9 106 38    
Operating income (loss) (26) (9) (106) (38)    
Interest expense, net 0 0 0 0    
Equity in earnings of unconsolidated subsidiaries 59,345 1,478 232,868 5,302    
Other income 0 0 0 0    
Income (loss) before income tax 59,319 1,469 232,762 5,264    
Depreciation 0 $ 0 0 $ 0    
Assets: $ 60,219   $ 60,219     $ 99,379