Defined Benefit Pension Plan

9 Months Ended

Nov. 30, 2025

Postemployment Benefits [Abstract]

Defined Benefit Pension Plan

17. Defined Benefit Pension Plan

Pension and Employee Benefit Obligations

In our Precoat Metals segment, certain current or past employees participate in a defined benefit pension plan (the "Plan"). Prior to the acquisition of Precoat Metals, benefit accruals were frozen for all participants. After the freeze, participants no longer accrued benefits under the Plan, and new hires of AZZ Precoat Metals are not eligible to participate in the Plan. As of November 30, 2025, the Plan was underfunded, and we have a net pension obligation of $18.8 million, which is included in "Other long-term liabilities" in the consolidated balance sheets and represents the underfunded portion of the Plan.

The components of net benefit cost other than the employer service cost are included in "Selling, general and administrative" expense and were not significant for three and nine months ended November 30, 2025 and 2024. We paid employer contributions of $4.4 million into the Plan during the nine months ended November 30, 2025. We expect to pay $1.3 million of contributions into the Plan during the remainder of fiscal year 2026.