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Leases (Tables)
 12 Months Ended
Feb. 28, 2026
Leases [Abstract]  
Lease, Cost
The following table outlines the classification of right-of-use ("ROU") assets and lease liabilities in the consolidated balance sheets for fiscal 2026 and 2025 (in thousands):
As of
February 28, 2026February 28, 2025
AssetsBalance Sheet Classification
Operating right-of-use assetsRight-of-use assets$46,261 $19,471 
Finance right-of-use assets Right-of-use assets$13,303 $6,480 
Liabilities
Operating lease liabilities―short-termLease liability—short-term$5,413 $6,373 
Operating lease liabilities―long-termLease liability—long-term$41,489 $13,741 
Finance lease liabilities―short-termLease liability—short-term$3,266 $1,376 
Finance lease liabilities―long-termLease liability—long-term$10,480 $5,271 
Supplemental information related to our leases was as follows (in thousands, except years and percentages):
As of
February 28, 2026February 28, 2025
Operating cash flows from operating leases included in lease liabilities$7,592 $7,213 
Lease liabilities obtained from new ROU assets—operating leases$32,800 $6,073 
Weighted-average remaining lease term—operating leases14.71 years3.79 years
Weighted-average discount rate—operating leases6.10 %5.06 %
Decrease in ROU assets related to lease terminations$(856)$— 
Financing cash flows from finance leases included in lease liabilities$2,542 $988 
Operating cash flows from finance leases included in lease liabilities$787 $341 
Lease liabilities obtained from new ROU assets—finance leases$9,105 $3,781 
Weighted-average remaining lease term—finance leases4.01 years4.57 years
Weighted-average discount rate—finance leases6.59 %6.86 %
The weighted-average remaining lease term for operating leases increased to 14.71 years, primarily due to the 20-year extension of the Columbia facility lease executed during fiscal 2026.
The following table outlines our lease expense in the consolidated statements of operations for fiscal 2026, 2025, and 2024 (in thousands):
Year Ended
February 28, 2026February 28, 2025February 29, 2024
Operating lease expense:
Cost of sales$7,233 $6,117 $6,008 
Selling, general and administrative1,975 1,932 1,947 
Total operating lease expense9,208 8,049 7,955 
Financing lease expense:
Cost of sales2,839 1,117 468 
Interest expense787 341 109 
Total financing lease expense3,626 1,458 577 
Variable lease expense:
Cost of sales945 471 454 
Total variable lease expense945 471 454 
Short-term lease expense:
Cost of sales6,254 6,402 5,416 
Selling, general and administrative117 33 52 
Total short-term lease expense6,371 6,435 5,468 
Total lease expense$20,150 $16,413 $14,454 
Lessee, Operating Lease, Liability, Maturity
As of February 28, 2026, maturities of our lease liabilities were as follows (in thousands):
Fiscal year:Operating LeasesFinance LeasesTotal
2027$8,054 $4,051 $12,105 
20287,194 3,954 11,148 
20296,510 3,721 10,231 
20304,468 3,027 7,495 
20313,609 828 4,437 
Thereafter44,672 3 44,675 
Total lease payments74,507 15,584 90,091 
Less imputed interest(27,605)(1,838)(29,443)
Total$46,902 $13,746 $60,648 
Finance Lease, Liability, Maturity
As of February 28, 2026, maturities of our lease liabilities were as follows (in thousands):
Fiscal year:Operating LeasesFinance LeasesTotal
2027$8,054 $4,051 $12,105 
20287,194 3,954 11,148 
20296,510 3,721 10,231 
20304,468 3,027 7,495 
20313,609 828 4,437 
Thereafter44,672 3 44,675 
Total lease payments74,507 15,584 90,091 
Less imputed interest(27,605)(1,838)(29,443)
Total$46,902 $13,746 $60,648 
Operating Lease, Lease Income
We sublease multiple buildings in Columbia, South Carolina to multiple subtenants. The Columbia sublease agreements are by and between AZZ Precoat Metals and multiple subtenants. Sublease income is recognized over the term of the sublease on a straight-line basis and is reported in the consolidated statement of operations as a reduction to "Cost of sales."
Year Ended
February 28, 2026February 28, 2025February 29, 2024
Sublease income$1,063 $1,055 $1,002