Apogee Enterprises (APOG) 10-Q 11 Jan 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 02, 2017	Jan. 10, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	APOGEE ENTERPRISES, INC.
Entity Central Index Key	6,845
Document Type	10-Q
Document Period End Date	Dec. 2, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--03-03
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		28,417,366

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Dec. 02, 2017	Mar. 04, 2017
Current assets
Cash and cash equivalents	$ 12,845	$ 19,463
Short-term available for sale securities	482	548
Restricted cash	0	7,834
Receivables, net of allowance for doubtful accounts	246,863	185,740
Inventories	98,062	73,409
Refundable income taxes	0	1,743
Other current assets	16,536	8,724
Total current assets	374,788	297,461
Property, plant and equipment, net	302,904	246,748
Available for sale securities	9,766	9,041
Deferred tax assets	6,128	4,025
Goodwill	152,881	101,334
Intangible assets	173,856	106,686
Other assets	23,445	19,363
Total assets	1,043,768	784,658
Current liabilities
Accounts payable	62,655	63,182
Accrued payroll and related benefits	33,769	51,244
Accrued self-insurance reserves	8,834	8,575
Other current liabilities	60,923	34,200
Billings in excess of costs and earnings on uncompleted contracts	38,830	28,857
Accrued income taxes	4,520	0
Total current liabilities	209,531	186,058
Long-term debt	231,276	65,400
Unrecognized tax benefits	4,837	3,980
Long-term self-insurance reserves	17,038	8,831
Deferred tax liabilities	2,910	4,025
Other non-current liabilities	59,481	45,787
Commitments and contingent liabilities (Note 13)
Shareholders' equity
Common stock of $0.33-1/3 par value; authorized 50,000,000 shares; issued and outstanding 28,996,209 and 28,958,119, respectively	9,547	9,560
Additional paid-in capital	154,357	150,111
Retained earnings	375,280	341,996
Common stock held in trust	(908)	(875)
Deferred compensation obligations	908	875
Accumulated other comprehensive loss	(20,489)	(31,090)
Total shareholders’ equity	518,695	470,577
Total liabilities and shareholders' equity	$ 1,043,768	$ 784,658

Consolidated Balance Sheets (u3

Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Dec. 02, 2017	Mar. 04, 2017
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.33	$ 0.33
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	28,642,749	28,680,841
Common stock, shares outstanding	28,642,749	28,680,841

Consolidated Results of Operati

Consolidated Results of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 02, 2017	Nov. 26, 2016	Dec. 02, 2017	Nov. 26, 2016
Income Statement [Abstract]
Net sales	$ 356,506	$ 274,072	$ 972,721	$ 800,407
Cost of sales	264,947	201,204	724,868	590,581
Gross profit	91,559	72,868	247,853	209,826
Selling, general and administrative expenses	57,024	39,609	161,438	117,269
Operating income	34,535	33,259	86,415	92,557
Interest income	106	271	390	799
Interest expense	1,594	150	3,689	495
Other income (expense), net	303	(158)	560	350
Earnings before income taxes	33,350	33,222	83,676	93,211
Income tax expense (benefit)	9,704	10,670	26,517	30,540
Net earnings	$ 23,646	$ 22,552	$ 57,159	$ 62,671
Earnings per share - basic
Net earnings	$ 0.82	$ 0.78	$ 1.98	$ 2.18
Earnings per share - diluted
Net earnings	$ 0.82	$ 0.78	$ 1.98	$ 2.17
Weighted average basic shares outstanding	28,736	28,828	28,812	28,807
Weighted average diluted shares outstanding	28,818	28,892	28,862	28,916

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 02, 2017	Nov. 26, 2016	Dec. 02, 2017	Nov. 26, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 23,646	$ 22,552	$ 57,159	$ 62,671
Other comprehensive earnings:
Unrealized gain on marketable securities, net of $17, $43, $50 and $35 of tax expense, respectively	(143)	(258)	(51)	(192)
Foreign currency translation adjustments	(3,838)	(1,783)	10,652	2,742
Other comprehensive earnings (loss)	(3,981)	(2,041)	10,601	2,550
Total comprehensive earnings	$ 19,665	$ 20,511	$ 67,760	$ 65,221

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Earnings (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 02, 2017	Nov. 26, 2016	Dec. 02, 2017	Nov. 26, 2016
Statement of Comprehensive Income [Abstract]
Tax expense (benefit) on marketable securities	$ (78)	$ (139)	$ 50	$ 35

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Dec. 02, 2017	Nov. 26, 2016
Operating Activities
Net earnings	$ 57,159	$ 62,671
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	39,774	24,270
Stock-based compensation	4,645	4,403
Deferred income taxes	(3,339)	(3,335)
Gain on disposal of assets	78	287
Proceeds from New Markets Tax Credit transaction, net of deferred costs	0	5,109
Other, net	(1,286)	(1,281)
Changes in operating assets and liabilities:
Receivables	(16,131)	(15,235)
Inventories	(1,348)	(9,555)
Accounts payable and accrued expenses	(27,449)	1,897
Billings in excess of costs and earnings on uncompleted contracts	9,869	4,896
Refundable and accrued income taxes	7,108	(1,073)
Other, net	(2,685)	335
Net cash provided by (used in) operating activities	66,239	72,815
Investing Activities
Capital expenditures	(38,946)	(44,548)
Proceeds from sales of property, plant and equipment	253	1,716
Acquisition of business, net of cash acquired	184,826	0
Change in restricted cash	(7,834)	14,884
Purchases of marketable securities	(10,154)	(3,021)
Sales/maturities of marketable securities	9,288	3,703
Other, net	941	(2,168)
Net cash provided by (used in) investing activities	(215,610)	(59,202)
Financing Activities
Borrowings on line of credit	314,700	0
Payments on line of credit	150,700	0
Shares withheld for taxes, net of stock issued to employees	(1,561)	(910)
Repurchase and retirement of common stock	10,833	10,817
Dividends paid	(11,971)	(10,687)
Proceeds from (Payments for) Other Financing Activities	2,039	(408)
Net cash provided by (used in) financing activities	141,674	(22,822)
Decrease in cash and cash equivalents	(7,697)	(9,209)
Effect of exchange rates on cash	1,079	338
Cash and cash equivalents at beginning of year	19,463	60,470
Cash and cash equivalents at end of period	12,845	51,599
Noncash Activity
Capital expenditures in accounts payable	1,859	6,683
Deferred payments on acquisition of business	$ 7,500	$ 0

Consolidated Statement of Share

Consolidated Statement of Shareholders Equity (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Common Stock Held In Trust [Member]	Deferred Compensation Obligation [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balance (in shares) at Feb. 27, 2016	28,684
Beginning balance at Feb. 27, 2016		$ 9,561	$ 145,528	$ 282,477	$ (837)	$ 837	$ (31,371)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 62,671			62,671
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	$ (192)						(192)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent						0	2,742
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	139
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		46	94		(26)	26
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition			4,403
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net			(1,229)
Outstanding shares awards exercised	125
Stock Issued During Period, Value, Stock Options Exercised		42	1,211
Stock Repurchased and Retired During Period, Shares	(52)
Stock Repurchased and Retired During Period, Value		(17)	(271)	(2,015)
Dividends, Common Stock, Cash				(10,687)
Ending balance (in shares) at Nov. 26, 2016	28,646
Ending balance at Nov. 26, 2016		9,549	148,379	323,070	(863)	863	(28,821)
Beginning balance (in shares) at Mar. 04, 2017	28,680
Beginning balance at Mar. 04, 2017	$ 470,577	9,560	150,111	341,996	(875)	875	(31,090)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	57,159			57,159
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	$ (51)						(51)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent						0	10,652
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	106
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		36	147		(33)	33
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition			4,645
Outstanding shares awards exercised	100
Stock Issued During Period, Value, Stock Options Exercised		33	801
Share repurchases (in shares)	(200)
Share repurchases		(67)	(1,091)	(9,675)	0	0	0
Stock Repurchased and Retired During Period, Shares	(45)
Stock Repurchased and Retired During Period, Value		(15)	(256)	(2,229)
Dividends, Common Stock, Cash				(11,971)
Ending balance (in shares) at Dec. 02, 2017	28,641
Ending balance at Dec. 02, 2017	$ 518,695	$ 9,547	$ 154,357	$ 375,280	$ (908)	$ 908	$ (20,489)

Basis of Presentation

Basis of Presentation	9 Months Ended
	Dec. 02, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements of Apogee Enterprises, Inc. (we, us, our or the Company) have been prepared in accordance with accounting principles generally accepted in the United States. The information included in this Form 10-Q should be read in conjunction with the Company’s Form 10-K for the year ended March 4, 2017 . We use the same accounting policies in preparing quarterly and annual financial statements. All adjustments necessary for a fair presentation of quarterly operating results are reflected herein and are of a normal, recurring nature. The results of operations for the nine -month period ended December 2, 2017 are not necessarily indicative of the results to be expected for the full year. Subsequent events In connection with preparing the unaudited consolidated financial statements for the nine months ended December 2, 2017 , we evaluated subsequent events for potential recognition and disclosure through the date of this filing. On December 20, 2017, the Tax Cuts and Jobs Act (the "2017 Act") was signed into law. We are in the process of preparing and analyzing information to determine the impact of the 2017 Act on our accounting for income taxes, including the remeasurement of our deferred tax assets and liabilities. The consolidated financial statements presented herein do not reflect any impact that may result from completing the accounting for the income tax effects of the 2017 Act. Subsequent to the end of the quarter, in late December 2017 and early January 2018, we purchased 246,299 shares of stock under our authorized share repurchase program, at a total cost of $11.1 million . On January 5, 2018, we announced a restructuring plan that involves the closure of our St. George, UT architectural glass manufacturing facility in March 2018, enabled by our investments in productivity and increased capabilities, which have led to an increase in capacity. This and other restructuring activities are expected to have an approximately $4.5 million pre-tax impact in our fiscal fourth quarter.

New Accounting Standards

New Accounting Standards	9 Months Ended
	Dec. 02, 2017
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	New Accounting Standards In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. Under the new standard, an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance is effective for annual reporting periods beginning after December 15, 2017, our fiscal 2019. We have undertaken a comprehensive assessment process at each of our businesses and have concluded on the application of the new guidance at nearly all of our businesses. We are in the process of quantifying the impact that this standard will have on our financial statements upon adoption. At this time: • We plan to adopt the guidance following a modified retrospective transition method, with a cumulative effect adjustment to opening retained earnings in fiscal 2019. We are in the process of determining this retained earnings adjustment. • We have determined that some of our business units will continue to recognize revenue at the point in time when goods are shipped, as that represents when control is transferred to the customer. We also have business units that continue to recognize revenue over time, following a cost-to-cost percentage of completion method of revenue recognition. • We expect that two of our business units will change from recognizing revenue at a point in time to recognizing revenue over time, to better reflect transfer of control to the customer in line with the new guidance. We are continuing to assess the appropriate measure of progress toward completion, based on the facts and circumstances specific to the performance obligations and terms of sale of each business. • We are in the process of evaluating how the revenue recognition guidance applies to EFCO, the business acquired in the second quarter of fiscal 2018. In February 2016, the FASB issued ASU 2016-02, Leases , which provides for comprehensive changes to lease accounting. The new standard requires that a lessee recognize a lease obligation liability and a right to use asset for virtually all leases of property, plant and equipment, subsequently amortized over the lease term. The new standard is effective for fiscal years beginning after December 15, 2018, our fiscal year 2020, with a modified retrospective transition. The adoption of this standard will result in reflecting assets and liabilities for the value of our leased property and equipment on our consolidated balance sheet, but we do not currently expect this guidance to have a significant impact on our consolidated results of operations. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows , and in November 2016, it issued 2016-18, Restricted Cash . Both standards provide guidance for presentation of certain topics within the statement of cash flows, including presenting restricted cash within cash and cash equivalents, and are intended to improve consistency in presentation. The new classification guidance is effective for fiscal years beginning after December 15, 2017, our fiscal year 2019, and is to be applied retrospectively for comparability across all periods. We do not expect this guidance to have a significant impact on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment , which simplifies the accounting for goodwill impairment by requiring impairment charges to be based on the first step in the current two-step impairment test process. The new guidance eliminates the current requirement to calculate a goodwill impairment charge using step 2. The standard is applicable to impairment tests performed in periods beginning after December 15, 2019, our fiscal 2021, with early adoption permitted. We are currently evaluating early adoption of this guidance for our future annual goodwill impairment review process.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Dec. 02, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation Total share-based compensation expense included in the results of operations was $4.6 million for the nine -month period ended December 2, 2017 and $4.4 million for the nine -month period ended November 26, 2016 . Stock Options and SARs Stock option and SAR activity for the current nine-month period is summarized as follows: Stock Options and SARs Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at March 4, 2017 229,901 $ 9.90 Awards exercised (100,000 ) 8.34 Outstanding and exercisable at December 2, 2017 129,901 $ 11.10 3.0 Years $ 4,878,738 Cash proceeds from the exercise of stock options were $0.8 million and $1.3 million for the nine months ended December 2, 2017 and November 26, 2016 , respectively. The aggregate intrinsic value of securities exercised (the amount by which the stock price on the date of exercise exceeded the stock price of the award on the date of grant) was $4.8 million during the nine months ended December 2, 2017 and $4.5 million during the prior-year period. Nonvested Shares and Share Units Nonvested share activity for the current nine-month period is summarized as follows: Nonvested Shares and Units Number of Shares and Units Weighted Average Grant Date Fair Value Nonvested at March 4, 2017 279,204 $ 44.79 Granted 124,416 55.40 Vested (130,093 ) 45.31 Canceled (7,000 ) 55.89 Nonvested at December 2, 2017 266,527 $ 49.20 At December 2, 2017 , there was $8.5 million of total unrecognized compensation cost related to nonvested share and nonvested share unit awards, which is expected to be recognized over a weighted average period of approximately 21 months. The total fair value of shares vested during the nine months ended December 2, 2017 was $7.0 million .

Earnings per Share

Earnings per Share	9 Months Ended
	Dec. 02, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended (In thousands) December 2, 2017 November 26, 2016 December 2, November 26, Basic earnings per share – weighted average common shares outstanding 28,736 28,828 28,812 28,807 Weighted average effect of nonvested share grants and assumed exercise of stock options 82 64 50 109 Diluted earnings per share – weighted average common shares and potential common shares outstanding 28,818 28,892 28,862 28,916 There were no anti-dilutive stock options excluded from the calculation of earnings per share for any of the periods presented, as the average market price exceeded the exercise price of options outstanding.

Inventories

Inventories	9 Months Ended
	Dec. 02, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories (In thousands) December 2, 2017 March 4, 2017 Raw materials $ 35,565 $ 22,761 Work-in-process 24,919 16,154 Finished goods 34,951 29,372 Costs and earnings in excess of billings on uncompleted contracts 2,627 5,122 Total inventories $ 98,062 $ 73,409

Marketable Securities

Marketable Securities	9 Months Ended
	Dec. 02, 2017
Marketable Securities [Abstract]
Marketable Securities	Marketable Securities Marketable securities are classified as available for sale: (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 2, 2017 Municipal bonds 10,334 17 (103 ) 10,248 March 4, 2017 Municipal bonds 9,595 91 (97 ) 9,589 We have a wholly-owned insurance subsidiary, Prism Assurance, Ltd. (Prism), which holds municipal bonds. Prism insures a portion of our general liability, workers’ compensation and automobile liability risks using reinsurance agreements to meet statutory requirements. The reinsurance carrier requires Prism to maintain fixed-maturity investments, which are generally high-quality municipal bonds, for the purpose of providing collateral for Prism’s obligations under the reinsurance agreements. The amortized cost and estimated fair values of municipal bonds at December 2, 2017 , by contractual maturity, are shown below. Expected maturities may differ from contractual maturities, as borrowers may have the right to call or prepay obligations with or without penalty. (In thousands) Amortized Cost Estimated Fair Value Due within one year $ 482 $ 482 Due after one year through five years 4,418 4,385 Due after five years through 10 years 4,627 4,578 Due after 10 years through 15 years 141 141 Due beyond 15 years 666 662 Total $ 10,334 $ 10,248

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Dec. 02, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial assets and liabilities are classified in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement: Level 1 (unadjusted quoted prices in active markets for identical assets or liabilities); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data). We do not have any Level 3 financial assets or liabilities. (In thousands) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Total Fair Value December 2, 2017 Cash equivalents Money market funds $ 1,696 $ — $ 1,696 Commercial paper — — — Total cash equivalents 1,696 — 1,696 Short-term securities Municipal bonds — 482 482 Long-term securities Municipal bonds — 9,766 9,766 Total assets at fair value $ 1,696 $ 10,248 $ 11,944 March 4, 2017 Cash equivalents Money market funds $ 4,423 $ — $ 4,423 Commercial paper — 5,500 5,500 Total cash equivalents 4,423 5,500 9,923 Short-term securities Municipal bonds — 548 548 Long-term securities Municipal bonds — 9,041 9,041 Total assets at fair value $ 4,423 $ 15,089 $ 19,512 Cash equivalents Fair value of money market funds was determined based on quoted prices for identical assets in active markets. Commercial paper was measured at fair value using inputs based on quoted prices for similar securities in active markets. Short- and long-term securities Municipal bonds were measured at fair value based on market prices from recent trades of similar securities and are classified as short-term or long-term based on maturity date.

Acquisitions

Acquisitions	9 Months Ended
	Dec. 02, 2017
Business Combinations [Abstract]
Acquisition	Acquisitions EFCO In line with our strategic objectives, on June 12, 2017, we acquired 100 percent of the stock of EFCO Corporation, a privately held U.S. manufacturer of architectural aluminum window, curtainwall, storefront and entrance systems for commercial construction projects, for $192 million in cash. The acquisition was funded through our committed revolving credit facility, with $7.5 million of the purchase price payable in equal installments over the next three years. EFCO's results of operations have been included in our consolidated financial statements and within the Architectural Framing Systems segment since the date of acquisition. Those results include $135.3 million of sales and $6.1 million of operating income since the date of acquisition. The assets and liabilities of EFCO were recorded in our consolidated balance sheet as of the acquisition date, at their respective fair values. Fair value is estimated based on one or a combination of income, cost and/or market approaches, as determined based on the nature of the asset or liability, and the level of inputs available. With respect to assets and liabilities, the determination of fair value requires management to make subjective judgments as to projections of future operating performance, the appropriate discount rate to apply, long-term growth rates, etc. (i.e. - unobservable inputs classified as Level 3 inputs under the fair value hierarchy described in Note 7), which affect the amounts recorded in the purchase price allocation. The excess of the consideration transferred over the fair value of the identifiable assets, net of liabilities, is recorded as goodwill, which is indicative of the expected continued growth and development of EFCO. The purchase price allocation is based on these estimated fair values of assets acquired and liabilities assumed, as follows: (In thousands) Net working capital $ 34,156 Property, plant and equipment 43,815 Goodwill 57,460 Other intangible assets 71,500 Less: Long-term liabilities acquired, net 14,605 Net assets acquired $ 192,326 Other intangible assets reflect the following: (In thousands) Estimated fair value Estimated useful life (in years) Customer relationships $ 34,800 16 Tradename 32,400 Indefinite Backlog 4,300 1.5 $ 71,500 These fair values are based on preliminary estimates and are subject to change based on finalization of net working capital items included in the purchase price allocation. Sotawall On December 14, 2016, we acquired substantially all the assets of Sotawall, Inc., now operating under the name Sotawall Limited ("Sotawall"). Sotawall specializes in the design, engineering, fabrication, assembly and installation of unitized curtainwall systems for industrial, commercial and institutional buildings, primarily serving the Canadian and northeastern U.S. geographic regions. Sotawall's results of operations have been included in our consolidated financial statements and within the Architectural Framing Systems segment since the date of acquisition. Purchase accounting related to the acquisition of Sotawall was finalized during the the first quarter of fiscal 2018. The following table sets forth certain unaudited pro forma consolidated data for the combined company for the third quarters and first nine-month periods of fiscal 2018 and 2017, as if the EFCO and Sotawall acquisitions were consummated pursuant to each of their respective same terms at the beginning of the fiscal year preceding their respective acquisition dates. Three Months Ended Nine Months Ended In thousands, except per share data December 2, 2017 November 26, 2016 December 2, 2017 November 26, 2016 Net sales $ 356,506 $ 368,387 $ 1,044,465 $ 1,083,352 Net earnings 24,453 25,971 59,564 72,171 Earnings per share Basic 0.85 0.90 2.07 2.50 Diluted 0.85 0.90 2.06 2.50 We have provided this unaudited pro forma information for comparative purposes only. This information does not necessarily reflect what the combined results of operations actually would have been had the acquisitions occurred at the beginning of fiscal year 2017. The information does not reflect the effect of any synergies or integration costs that will result from the acquisitions.

Goodwill and Other Identifiable

Goodwill and Other Identifiable Intangible Assets	9 Months Ended
	Dec. 02, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Identifiable Intangible Assets	Goodwill and Other Identifiable Intangible Assets The carrying amount of goodwill attributable to each reporting segment was: (In thousands) Architectural Framing Systems Architectural Glass Architectural Services Large-Scale Optical Total Balance at February 27, 2016 $ 36,680 $ 25,639 $ 1,120 $ 10,557 $ 73,996 Goodwill acquired 27,444 — — — 27,444 Foreign currency translation (423 ) 317 — — (106 ) Balance at March 4, 2017 63,701 25,956 1,120 10,557 101,334 Goodwill acquired, net 49,256 — — — 49,256 Foreign currency translation 2,241 50 — — 2,291 Balance at December 2, 2017 115,198 $ 26,006 $ 1,120 $ 10,557 $ 152,881 The gross carrying amount of other intangible assets and related accumulated amortization was: (In thousands) Gross Carrying Amount Accumulated Amortization Foreign Currency Translation Net December 2, 2017 Definite-lived intangible assets: Debt issue costs $ 4,516 $ (3,169 ) $ — $ 1,347 Non-compete agreements 6,286 (6,122 ) 10 174 Customer relationships 120,273 (18,753 ) 3,788 105,308 Trademarks and other intangibles 30,250 (13,616 ) 1,055 17,689 Total definite-lived intangible assets $ 161,325 $ (41,660 ) $ 4,853 $ 124,518 Indefinite-lived intangible assets: Trademarks 48,461 — 877 49,338 Total intangible assets $ 209,786 $ (41,660 ) $ 5,730 $ 173,856 March 4, 2017 Definite-lived intangible assets: Debt issue costs $ 4,066 $ (2,960 ) $ — $ 1,106 Non-compete agreements 6,286 (6,025 ) (65 ) 196 Customer relationships 82,479 (14,013 ) (145 ) 68,321 Trademarks and other intangibles 25,950 (4,917 ) (31 ) 21,002 Total definite-lived intangible assets $ 118,781 $ (27,915 ) $ (241 ) $ 90,625 Indefinite-lived intangible assets: Trademarks 16,022 — 39 16,061 Total intangible assets $ 134,803 $ (27,915 ) $ (202 ) $ 106,686 Amortization expense on definite-lived intangible assets was $12.8 million and $1.2 million for the nine -month periods ended December 2, 2017 and November 26, 2016 , respectively. The amortization expense associated with debt issue costs is included in interest expense while the remainder is in selling, general and administrative expenses in the consolidated results of operations. At December 2, 2017 , the estimated future amortization expense for definite-lived intangible assets was: (In thousands) Remainder of Fiscal 2018 Fiscal 2019 Fiscal 2020 Fiscal 2021 Fiscal 2022 Estimated amortization expense $ 4,922 $ 13,235 $ 8,219 $ 8,213 $ 7,904

Debt

Debt	9 Months Ended
	Dec. 02, 2017
Debt Disclosure [Abstract]
Debt	Debt We maintain a committed revolving credit facility with maximum borrowings of up to $335.0 million , maturing in November 2021 . Outstanding borrowings under our committed revolving credit facility were $209.0 million , as of December 2, 2017 , and $45.0 million , as of March 4, 2017 . Under this facility, we are subject to two financial covenants that require us to stay below a maximum debt-to-EBITDA ratio and maintain a minimum ratio of interest expense-to-EBITDA. Both ratios are computed quarterly, with EBITDA calculated on a rolling four-quarter basis. At December 2, 2017 , we were in compliance with both financial covenants. Additionally, at December 2, 2017 , we had a total of $26.3 million of ongoing letters of credit related to industrial revenue bonds and construction contracts that expire in fiscal 2018 and reduce availability of funds under our committed credit facility. At December 2, 2017 , our debt also included $20.4 million of industrial revenue bonds that mature in fiscal years 2021 through 2043 and $0.4 million of long-term debt in Canada. The fair value of the industrial revenue bonds approximated carrying value at December 2, 2017 , due to the variable interest rates on these instruments. All debt would be classified as Level 2 within the fair value hierarchy described in Note 7. We also maintain two Canadian revolving demand credit facilities totaling $ 12.0 million Canadian dollars. As of December 2, 2017 , $1.5 million was outstanding under these facilities, and no borrowings were outstanding as of March 4, 2017 . Borrowings under these facilities are made available at the sole discretion of the lenders and are payable on demand. The Company classifies any outstanding balances under this demand facility as long-term debt, as outstanding amounts can be refinanced through our committed revolving credit facility. Interest payments were $3.6 million and $0.5 million for the nine months ended December 2, 2017 and November 26, 2016 , respectively.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Dec. 02, 2017
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company sponsors two frozen defined-benefit pension plans: an unfunded Officers’ Supplemental Executive Retirement Plan and the Tubelite Inc. Hourly Employees’ Pension Plan. Components of net periodic benefit cost were: Three Months Ended Nine Months Ended (In thousands) December 2, 2017 November 26, 2016 December 2, November 26, Interest cost $ 133 $ 139 $ 399 $ 417 Expected return on assets (10 ) (10 ) (30 ) (30 ) Amortization of unrecognized net loss 57 56 171 168 Net periodic benefit cost $ 180 $ 185 $ 540 $ 555

Income Taxes

Income Taxes	9 Months Ended
	Dec. 02, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company files income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions, Canada, Brazil and other international jurisdictions. The Company is no longer subject to U.S. federal tax examinations for years prior to fiscal 2015, or U.S. state and local income tax examinations for years prior to fiscal 2011. The Company is not currently under U.S. federal examination for years subsequent to fiscal year 2014, and there is very limited audit activity of the Company’s income tax returns in U.S. state jurisdictions or international jurisdictions. The total liability for unrecognized tax benefits at December 2, 2017 and March 4, 2017 was approximately $5.4 million and $4.5 million , respectively. Penalties and interest related to unrecognized tax benefits are recorded in income tax expense. The total liability for unrecognized tax benefits is expected to decrease by approximately $0.3 million during the next 12 months due to lapsing of statutes.

Other Non-Current Liabilities (

Other Non-Current Liabilities (Notes)	9 Months Ended
	Dec. 02, 2017
Other Liabilities Disclosure [Abstract]
Other Non-Current Liabilities	Other Non-Current Liabilities (In thousands) December 2, 2017 March 4, 2017 Deferred benefit from New Market Tax Credit transactions $ 16,708 $ 16,708 Retirement plan obligations 9,635 9,635 Deferred compensation plan 10,104 7,463 Other 23,034 11,981 Total other non-current liabilities $ 59,481 $ 45,787

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Dec. 02, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Operating lease commitments. As of December 2, 2017 , the Company was obligated under non-cancelable operating leases for buildings and equipment. Certain leases provide for increased rental payments based upon increases in real estate taxes or operating costs. Future minimum rental payments under non-cancelable operating leases are: (In thousands) Remainder of Fiscal 2018 Fiscal 2019 Fiscal 2020 Fiscal 2021 Fiscal 2022 Thereafter Total Total minimum payments $ 3,615 $ 13,546 $ 11,493 $ 8,477 $ 7,626 $ 21,232 $ 65,989 Bond commitments. In the ordinary course of business, predominantly in our Architectural Services and Architectural Framing Systems segments, we are required to provide surety or performance bonds that commit payments to our customers for any non-performance. At December 2, 2017 , $86.4 million of our backlog was bonded by performance bonds with a face value of $310.0 million . Performance bonds do not have stated expiration dates, as we are generally released from the bonds upon completion of the contract. We have never been required to make any payments related to these performance bonds with respect to any of our current portfolio of businesses. Warranties. We reserve estimated exposures on known claims, as well as on a portion of anticipated claims, for product warranty and rework cost, based on historical product liability claims as a ratio of sales. Claim costs are deducted from the accrual when paid. Factors that could have an impact on the warranty accrual in any given period include the following: changes in manufacturing quality, changes in product mix and any significant changes in sales volume. A warranty rollforward follows: Nine Months Ended (In thousands) December 2, 2017 November 26, 2016 Balance at beginning of period $ 21,933 $ 16,340 Additional accruals 3,443 6,082 Claims paid (8,254 ) (4,878 ) Acquired reserves 5,571 — Balance at end of period $ 22,693 $ 17,544 Letters of credit. At December 2, 2017 , we had ongoing letters of credit related to construction contracts and certain industrial revenue bonds. The total value of letters of credit under which we were obligated as of December 2, 2017 was approximately $26.3 million , all of which have been issued under our committed revolving credit facility. Availability under this credit facility is reduced by borrowings under the facility and also by letters of credit issued under the facility. Purchase obligations. Purchase obligations for raw material commitments and capital expenditures totaled $120.9 million as of December 2, 2017 . Litigation. We are a party to various legal proceedings incidental to our normal operating activities. In particular, like others in the construction supply and services industry, our businesses are routinely involved in various disputes and claims arising out of construction projects, sometimes involving significant monetary damages or product replacement. We are also subject to litigation arising out of general liability, employment practices, workers' compensation and automobile claims. Although it is very difficult to accurately predict the outcome of such proceedings, facts currently available indicate that no such claims will result in losses that would have a material adverse effect on our results of operations, cash flows or financial condition.

Segment Information

Segment Information	9 Months Ended
	Dec. 02, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has four reporting segments: Architectural Framing Systems, Architectural Glass, Architectural Services and Large-Scale Optical (LSO). • The Architectural Framing Systems segment designs, engineers, fabricates and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront and entrance systems comprising the outside skin and entrances of commercial, institutional and high-end multi-family residential buildings. The Company has aggregated six operating segments into this reporting segment based on their similar products, customers, distribution methods, production processes and economic characteristics. • The Architectural Glass segment fabricates coated, high-performance glass used in customized window and wall systems comprising the outside skin of commercial, institutional and high-end multi-family residential buildings. • The Architectural Services segment designs, engineers, fabricates and installs the walls of glass, windows and other curtainwall products making up the outside skin of commercial and institutional buildings. • The LSO segment manufactures value-added glass and acrylic products primarily for framing and display applications. Three Months Ended Nine Months Ended (In thousands) December 2, 2017 November 26, 2016 December 2, 2017 November 26, 2016 Net sales from operations Architectural Framing Systems $ 194,157 $ 90,850 $ 493,672 $ 264,212 Architectural Glass 96,940 107,002 292,026 299,567 Architectural Services 49,077 64,380 146,056 204,934 Large-Scale Optical 26,003 22,084 64,897 63,382 Intersegment eliminations (9,671 ) (10,244 ) (23,930 ) (31,688 ) Net sales $ 356,506 $ 274,072 $ 972,721 $ 800,407 Operating income (loss) from operations Architectural Framing Systems $ 18,452 $ 11,838 $ 46,958 $ 35,070 Architectural Glass 9,107 11,708 28,687 30,855 Architectural Services 2,547 4,918 4,102 14,336 Large-Scale Optical 6,724 5,910 15,022 15,613 Corporate and other (2,295 ) (1,115 ) (8,354 ) (3,317 ) Operating income $ 34,535 $ 33,259 $ 86,415 $ 92,557 Due to the varying combinations and integration of individual window, storefront and curtainwall systems, it is impractical to report product revenues generated by class of product, beyond the segment revenues currently reported.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Dec. 02, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Award transactions on stock options	ctivity for the current nine-month period is summarized as follows: Stock Options and SARs Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at March 4, 2017 229,901 $ 9.90 Awards exercised (100,000 ) 8.34 Outstanding and exercisable at December 2, 2017 129,901 $ 11.10 3.0 Years $ 4,878,738
Nonvested share award transactions	Nonvested share activity for the current nine-month period is summarized as follows: Nonvested Shares and Units Number of Shares and Units Weighted Average Grant Date Fair Value Nonvested at March 4, 2017 279,204 $ 44.79 Granted 124,416 55.40 Vested (130,093 ) 45.31 Canceled (7,000 ) 55.89 Nonvested at December 2, 2017 266,527 $ 49.20

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Dec. 02, 2017
Earnings Per Share [Abstract]
Reconciliation of basic and diluted earnings per share	The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended (In thousands) December 2, 2017 November 26, 2016 December 2, November 26, Basic earnings per share – weighted average common shares outstanding 28,736 28,828 28,812 28,807 Weighted average effect of nonvested share grants and assumed exercise of stock options 82 64 50 109 Diluted earnings per share – weighted average common shares and potential common shares outstanding 28,818 28,892 28,862 28,916

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Dec. 02, 2017
Inventory Disclosure [Abstract]
Components of inventories	(In thousands) December 2, 2017 March 4, 2017 Raw materials $ 35,565 $ 22,761 Work-in-process 24,919 16,154 Finished goods 34,951 29,372 Costs and earnings in excess of billings on uncompleted contracts 2,627 5,122 Total inventories $ 98,062 $ 73,409

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Dec. 02, 2017
Marketable Securities [Abstract]
Amortized cost, gross unrealized gains and losses, and estimated fair values of investments available for sale	arketable securities are classified as available for sale: (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 2, 2017 Municipal bonds 10,334 17 (103 ) 10,248 March 4, 2017 Municipal bonds 9,595 91 (97 ) 9,589
Schedule of amortized cost and estimated fair values of investments by contractual maturity	The amortized cost and estimated fair values of municipal bonds at December 2, 2017 , by contractual maturity, are shown below. Expected maturities may differ from contractual maturities, as borrowers may have the right to call or prepay obligations with or without penalty. (In thousands) Amortized Cost Estimated Fair Value Due within one year $ 482 $ 482 Due after one year through five years 4,418 4,385 Due after five years through 10 years 4,627 4,578 Due after 10 years through 15 years 141 141 Due beyond 15 years 666 662 Total $ 10,334 $ 10,248

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 02, 2017
Fair Value Disclosures [Abstract]
Financial assets and liabilities measured at fair value	(In thousands) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Total Fair Value December 2, 2017 Cash equivalents Money market funds $ 1,696 $ — $ 1,696 Commercial paper — — — Total cash equivalents 1,696 — 1,696 Short-term securities Municipal bonds — 482 482 Long-term securities Municipal bonds — 9,766 9,766 Total assets at fair value $ 1,696 $ 10,248 $ 11,944 March 4, 2017 Cash equivalents Money market funds $ 4,423 $ — $ 4,423 Commercial paper — 5,500 5,500 Total cash equivalents 4,423 5,500 9,923 Short-term securities Municipal bonds — 548 548 Long-term securities Municipal bonds — 9,041 9,041 Total assets at fair value $ 4,423 $ 15,089 $ 19,512

Acquisitions Acquisition (Table

Acquisitions Acquisition (Tables)	9 Months Ended
	Dec. 02, 2017
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired	The purchase price allocation is based on these estimated fair values of assets acquired and liabilities assumed, as follows: (In thousands) Net working capital $ 34,156 Property, plant and equipment 43,815 Goodwill 57,460 Other intangible assets 71,500 Less: Long-term liabilities acquired, net 14,605 Net assets acquired $ 192,326
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	Other intangible assets reflect the following: (In thousands) Estimated fair value Estimated useful life (in years) Customer relationships $ 34,800 16 Tradename 32,400 Indefinite Backlog 4,300 1.5 $ 71,500
Business Acquisition, Pro Forma Information	The following table sets forth certain unaudited pro forma consolidated data for the combined company for the third quarters and first nine-month periods of fiscal 2018 and 2017, as if the EFCO and Sotawall acquisitions were consummated pursuant to each of their respective same terms at the beginning of the fiscal year preceding their respective acquisition dates. Three Months Ended Nine Months Ended In thousands, except per share data December 2, 2017 November 26, 2016 December 2, 2017 November 26, 2016 Net sales $ 356,506 $ 368,387 $ 1,044,465 $ 1,083,352 Net earnings 24,453 25,971 59,564 72,171 Earnings per share Basic 0.85 0.90 2.07 2.50 Diluted 0.85 0.90 2.06 2.50

Goodwill and Other Identifiab30

Goodwill and Other Identifiable Intangible Assets (Tables)	9 Months Ended
	Dec. 02, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill attributable to each business segment	The carrying amount of goodwill attributable to each reporting segment was: (In thousands) Architectural Framing Systems Architectural Glass Architectural Services Large-Scale Optical Total Balance at February 27, 2016 $ 36,680 $ 25,639 $ 1,120 $ 10,557 $ 73,996 Goodwill acquired 27,444 — — — 27,444 Foreign currency translation (423 ) 317 — — (106 ) Balance at March 4, 2017 63,701 25,956 1,120 10,557 101,334 Goodwill acquired, net 49,256 — — — 49,256 Foreign currency translation 2,241 50 — — 2,291 Balance at December 2, 2017 115,198 $ 26,006 $ 1,120 $ 10,557 $ 152,881
Schedule of finite lived intangible assets	e gross carrying amount of other intangible assets and related accumulated amortization was: (In thousands) Gross Carrying Amount Accumulated Amortization Foreign Currency Translation Net December 2, 2017 Definite-lived intangible assets: Debt issue costs $ 4,516 $ (3,169 ) $ — $ 1,347 Non-compete agreements 6,286 (6,122 ) 10 174 Customer relationships 120,273 (18,753 ) 3,788 105,308 Trademarks and other intangibles 30,250 (13,616 ) 1,055 17,689 Total definite-lived intangible assets $ 161,325 $ (41,660 ) $ 4,853 $ 124,518 Indefinite-lived intangible assets: Trademarks 48,461 — 877 49,338 Total intangible assets $ 209,786 $ (41,660 ) $ 5,730 $ 173,856 March 4, 2017 Definite-lived intangible assets: Debt issue costs $ 4,066 $ (2,960 ) $ — $ 1,106 Non-compete agreements 6,286 (6,025 ) (65 ) 196 Customer relationships 82,479 (14,013 ) (145 ) 68,321 Trademarks and other intangibles 25,950 (4,917 ) (31 ) 21,002 Total definite-lived intangible assets $ 118,781 $ (27,915 ) $ (241 ) $ 90,625 Indefinite-lived intangible assets: Trademarks 16,022 — 39 16,061 Total intangible assets $ 134,803 $ (27,915 ) $ (202 ) $ 106,686
Schedule of estimated future amortization expense for identifiable intangible assets	At December 2, 2017 , the estimated future amortization expense for definite-lived intangible assets was: (In thousands) Remainder of Fiscal 2018 Fiscal 2019 Fiscal 2020 Fiscal 2021 Fiscal 2022 Estimated amortization expense $ 4,922 $ 13,235 $ 8,219 $ 8,213 $ 7,904

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Dec. 02, 2017
Compensation and Retirement Disclosure [Abstract]
Components of net periodic benefit cost	Components of net periodic benefit cost were: Three Months Ended Nine Months Ended (In thousands) December 2, 2017 November 26, 2016 December 2, November 26, Interest cost $ 133 $ 139 $ 399 $ 417 Expected return on assets (10 ) (10 ) (30 ) (30 ) Amortization of unrecognized net loss 57 56 171 168 Net periodic benefit cost $ 180 $ 185 $ 540 $ 555

Other Non-Current Liabilities32

Other Non-Current Liabilities (Tables)	9 Months Ended
	Dec. 02, 2017
Other Liabilities Disclosure [Abstract]
Other Non-current Liabilities	(In thousands) December 2, 2017 March 4, 2017 Deferred benefit from New Market Tax Credit transactions $ 16,708 $ 16,708 Retirement plan obligations 9,635 9,635 Deferred compensation plan 10,104 7,463 Other 23,034 11,981 Total other non-current liabilities $ 59,481 $ 45,787

Commitments and Contingent Li33

Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Dec. 02, 2017
Commitments and Contingencies Disclosure [Abstract]
Future minimum rental payments under noncancelable operating leases	Future minimum rental payments under non-cancelable operating leases are: (In thousands) Remainder of Fiscal 2018 Fiscal 2019 Fiscal 2020 Fiscal 2021 Fiscal 2022 Thereafter Total Total minimum payments $ 3,615 $ 13,546 $ 11,493 $ 8,477 $ 7,626 $ 21,232 $ 65,989
Guarantees and warranties	A warranty rollforward follows: Nine Months Ended (In thousands) December 2, 2017 November 26, 2016 Balance at beginning of period $ 21,933 $ 16,340 Additional accruals 3,443 6,082 Claims paid (8,254 ) (4,878 ) Acquired reserves 5,571 — Balance at end of period $ 22,693 $ 17,544

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Dec. 02, 2017
Segment Reporting [Abstract]
Sales and operating income data	Three Months Ended Nine Months Ended (In thousands) December 2, 2017 November 26, 2016 December 2, 2017 November 26, 2016 Net sales from operations Architectural Framing Systems $ 194,157 $ 90,850 $ 493,672 $ 264,212 Architectural Glass 96,940 107,002 292,026 299,567 Architectural Services 49,077 64,380 146,056 204,934 Large-Scale Optical 26,003 22,084 64,897 63,382 Intersegment eliminations (9,671 ) (10,244 ) (23,930 ) (31,688 ) Net sales $ 356,506 $ 274,072 $ 972,721 $ 800,407 Operating income (loss) from operations Architectural Framing Systems $ 18,452 $ 11,838 $ 46,958 $ 35,070 Architectural Glass 9,107 11,708 28,687 30,855 Architectural Services 2,547 4,918 4,102 14,336 Large-Scale Optical 6,724 5,910 15,022 15,613 Corporate and other (2,295 ) (1,115 ) (8,354 ) (3,317 ) Operating income $ 34,535 $ 33,259 $ 86,415 $ 92,557

Basis of Presentation Subsequen

Basis of Presentation Subsequent event (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Jan. 15, 2018	Dec. 02, 2017	Mar. 03, 2018	Jun. 12, 2017
Business Acquisition [Line Items]
Stock Redeemed or Called During Period, Shares (in shares)		200,000
EFCO Corporation
Business Acquisition [Line Items]
Percentage of voting interests acquired				100.00%
Subsequent Event [Member]
Business Acquisition [Line Items]
Restructuring and Related Cost, Expected Cost			$ 4.5
Subsequent Event [Member] | Share Repurchase Program [Member]
Business Acquisition [Line Items]
Stock Redeemed or Called During Period, Shares (in shares)	246,299
Stock Redeemed or Called During Period, Value	$ 11.1

Share-Based Compensation (Detai

Share-Based Compensation (Details 1) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 02, 2017	Dec. 02, 2017	Nov. 26, 2016
Award transactions on stock options
Outstanding, Beginning		229,901
Outstanding shares awards exercised		(100,000)	(125,000)
Outstanding, Ending	129,901	129,901
Award transactions on stock options, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price, Beginning		$ 9.90
Weighted average exercise price, Awards exercised		8.34
Weighted average exercise price, Ending	$ 11.10	$ 11.10
Weighted average remaining contractual life, Outstanding	3 years
Aggregate intrinsic value, Outstanding	$ 4,878,738	$ 4,878,738
Deferred Compensation, Share-based Payments [Member]
Award transactions on stock options
Outstanding shares awards exercised		(100,000)

Share-Based Compensation (Det37

Share-Based Compensation (Details 2)	9 Months Ended
	Dec. 02, 2017$ / sharesshares
Nonvested share award transactions
Nonvested Number, Beginning | shares	279,204
Number of shares, Granted | shares	124,416
Number of shares, Vested | shares	(130,093)
Number of shares, Canceled | shares	(7,000)
Nonvested Number, Ending | shares	266,527
Nonvested share award transactions, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, Beginning | $ / shares	$ 44.79
Weighted average grant date fair value, Granted | $ / shares	55.40
Weighted average grant date fair value, Vested | $ / shares	45.31
Weighted average grant date fair value, Canceled | $ / shares	55.89
Weighted average grant date fair value, Ending | $ / shares	$ 49.20

Share-Based Compensation (Det38

Share-Based Compensation (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 02, 2017	Nov. 26, 2016	Dec. 02, 2017	Nov. 26, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation			$ 4,645	$ 4,403
Cash proceeds from exercise of stock options	$ 800	$ 1,300
Aggregate intrinsic value of securities	4,800	$ 4,500
Total unrecognized compensation cost related to nonvested share	$ 8,500		$ 8,500
Document Period End Date			Dec. 2, 2017
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period, Nonvested	21 months
Total fair value of shares vested			$ 7,000

Earnings per Share (Details)

Earnings per Share (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 02, 2017	Nov. 26, 2016	Dec. 02, 2017	Nov. 26, 2016
Reconciliation of basic and diluted earnings per share
Basic earnings per share - weighted common shares outstanding	28,736,000	28,828,000	28,812,000	28,807,000
Incremental Common Shares Attributable to Share-based Payment Arrangements	82,000	64,000	50,000	109,000
Weighted Average Number of Shares Outstanding, Diluted	28,818,000	28,892,000	28,862,000	28,916,000
Stock options excluded from the calculation of earnings per share because the exercise price was greater than the average market price of the common shares	0	0

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 02, 2017	Mar. 04, 2017
Components of inventories
Raw materials	$ 35,565	$ 22,761
Work-in-process	24,919	16,154
Finished goods	34,951	29,372
Costs and earnings in excess of billings on uncompleted contracts	2,627	5,122
Total inventories	$ 98,062	$ 73,409

Marketable Securities (Details)

Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 02, 2017	Mar. 04, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 10,334
Estimated Fair Value	10,248
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	10,334	$ 9,595
Gross Unrealized Gains	17	91
Gross Unrealized Losses	103	97
Estimated Fair Value	$ 10,248	$ 9,589

Marketable Securities (Details

Marketable Securities (Details 2) $ in Thousands	Dec. 02, 2017USD ($)
Amortized Cost
Due within one year	$ 482
Due after one year through five years	4,418
Due after five years through 10 years	4,627
Due after 10 years through 15 years	141
Due beyond 15 years	666
Total	10,334
Estimated Fair Value
Due within one year	482
Due after one year through five years	4,385
Due after five years through 10 years	4,578
Due after 10 years through 15 years	141
Due beyond 15 years	662
Total	$ 10,248

Marketable Securities (Detail43

Marketable Securities (Details Textual) $ in Millions	Dec. 02, 2017USD ($)
Marketable Securities [Abstract]
Greater Than or Equal to 12 Months, Fair Value	$ 0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 02, 2017	Mar. 04, 2017
Cash equivalents
Total cash equivalents	$ 1,696	$ 9,923
Total assets at fair value	11,944	19,512
Money market funds
Cash equivalents
Total cash equivalents		4,423
Commercial paper
Cash equivalents
Total cash equivalents	0	5,500
Quoted Prices in Active Markets (Level 1)
Cash equivalents
Total cash equivalents	1,696	4,423
Total assets at fair value	1,696	4,423
Quoted Prices in Active Markets (Level 1) | Money market funds
Cash equivalents
Total cash equivalents		4,423
Quoted Prices in Active Markets (Level 1) | Commercial paper
Cash equivalents
Total cash equivalents	0	0
Quoted Prices in Active Markets (Level 1) | Municipal bonds
Cash equivalents
Available-for-sale Securities, Current		0
Other Observable Inputs (Level 2)
Cash equivalents
Total cash equivalents	0	5,500
Total assets at fair value	10,248	15,089
Other Observable Inputs (Level 2) | Money market funds
Cash equivalents
Total cash equivalents		0
Other Observable Inputs (Level 2) | Commercial paper
Cash equivalents
Total cash equivalents	0
Money market funds
Cash equivalents
Total cash equivalents	1,696
Money market funds | Quoted Prices in Active Markets (Level 1)
Cash equivalents
Total cash equivalents	1,696
Money market funds | Other Observable Inputs (Level 2)
Cash equivalents
Total cash equivalents	0
Municipal bonds
Cash equivalents
Available-for-sale Securities, Current	482	548
Available-for-sale Securities, Noncurrent	9,766	9,041
Municipal bonds | Quoted Prices in Active Markets (Level 1)
Cash equivalents
Available-for-sale Securities, Current	0
Available-for-sale Securities, Noncurrent	0	0
Municipal bonds | Other Observable Inputs (Level 2)
Cash equivalents
Available-for-sale Securities, Current	482	548
Available-for-sale Securities, Noncurrent	$ 9,766	$ 9,041

Acquisition (Details)

Acquisition (Details) - EFCO Corporation - USD ($) $ in Millions	Jun. 12, 2017	Dec. 02, 2017
Business Acquisition [Line Items]
Percentage of voting interests acquired	100.00%
Sales		$ 135.3
Operating income		$ 6.1
Revolving credit facility
Business Acquisition [Line Items]
Debt payment to acquire business	$ 192
Payable installment	$ 7.5
Payment period	3 years

Acquisition (Details 1)

Acquisition (Details 1) - USD ($) $ in Thousands	Dec. 02, 2017	Jun. 12, 2017	Mar. 04, 2017	Feb. 27, 2016
Business Acquisition [Line Items]
Goodwill	$ 152,881		$ 101,334	$ 73,996
EFCO Corporation
Business Acquisition [Line Items]
Net working capital		$ 34,156
Property, plant and equipment		43,815
Goodwill		57,460
Other intangible assets		71,500
Less: Long-term liabilities acquired, net		14,605
Net assets acquired		$ 192,326

Acquisition (Details 2)

Acquisition (Details 2) - EFCO Corporation $ in Thousands	Jun. 12, 2017USD ($)
Business Acquisition [Line Items]
Other intangible assets	$ 71,500
Customer relationships
Business Acquisition [Line Items]
Other intangible assets	$ 34,800
Estimated useful life (in years)	16 years
Backlog
Business Acquisition [Line Items]
Other intangible assets	$ 4,300
Estimated useful life (in years)	1 year 6 months
Tradename
Business Acquisition [Line Items]
Other intangible assets	$ 32,400

Acquisitions (Details 3)

Acquisitions (Details 3) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 02, 2017	Nov. 26, 2016	Dec. 02, 2017	Nov. 26, 2016
Business Combinations [Abstract]
Net sales	$ 356,506	$ 368,387	$ 1,044,465	$ 1,083,352
Net earnings	$ 24,453	$ 25,971	$ 59,564	$ 72,171
Earnings per share
Basic (USD per share)	$ 0.85	$ 0.90	$ 2.07	$ 2.50
Diluted (USD per share)	$ 0.85	$ 0.90	$ 2.06	$ 2.50

Goodwill and Other Identifiab49

Goodwill and Other Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 02, 2017	Mar. 04, 2017
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	$ 101,334	$ 73,996
Goodwill acquired		27,444
Goodwill acquired, net	49,256
Foreign currency translation	2,291	(106)
Goodwill, Ending	152,881	101,334
Architectural Glass
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	25,956	25,639
Goodwill acquired		0
Goodwill acquired, net	0
Foreign currency translation	50	317
Goodwill, Ending	26,006	25,956
Architectural Framing Systems
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	63,701	36,680
Goodwill acquired		27,444
Goodwill acquired, net	49,256
Foreign currency translation	2,241	(423)
Goodwill, Ending	115,198	63,701
Architectural Services
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	1,120	1,120
Goodwill acquired		0
Goodwill acquired, net	0
Foreign currency translation	0	0
Goodwill, Ending	1,120	1,120
Large-Scale Optical
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	10,557	10,557
Goodwill acquired		0
Goodwill acquired, net	0
Foreign currency translation	0	0
Goodwill, Ending	$ 10,557	$ 10,557

Goodwill and Other Identifiab50

Goodwill and Other Identifiable Intangible Assets (Details 1) - USD ($) $ in Thousands	Dec. 02, 2017	Mar. 04, 2017
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	$ 161,325	$ 118,781
Accumulated Amortization	(41,660)	(27,915)
Foreign Currency Translation	4,853	(241)
Net	124,518	90,625
Intangible Assets, Gross (Excluding Goodwill)	209,786	134,803
Intangible Assets Accumulated Amortization	(41,660)	(27,915)
Intangible Assets Foreign Currency Translation	5,730	(202)
Intangible Assets, Net (Excluding Goodwill)	173,856	106,686
Debt issue costs
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	4,516	4,066
Accumulated Amortization	(3,169)	(2,960)
Foreign Currency Translation	0	0
Net	1,347	1,106
Non-compete agreements
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	6,286	6,286
Accumulated Amortization	(6,122)	(6,025)
Foreign Currency Translation	10	(65)
Net	174	196
Customer relationships
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	120,273	82,479
Accumulated Amortization	(18,753)	(14,013)
Foreign Currency Translation	3,788	(145)
Net	105,308	68,321
Trademarks and other intangibles
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	30,250	25,950
Accumulated Amortization	(13,616)	(4,917)
Foreign Currency Translation	1,055	(31)
Net	17,689	21,002
Indefinite-Lived Intangible Assets (Excluding Goodwill)	48,461	16,022
Indefinite Lived Identifiable Intangible Assets, Foreign Currency Translation Adjustments	877	39
Indefinite-lived Intangible Assets (Excluding Goodwill), Net of translation adjustments	$ 49,338	$ 16,061

Goodwill and Other Identifiab51

Goodwill and Other Identifiable Intangible Assets (Details 2) $ in Thousands	Dec. 02, 2017USD ($)
Schedule of estimated future amortization expense for identifiable intangible assets
Estimated amortization expense, Remainder of Fiscal 2018	$ 4,922
Estimated amortization expense, Fiscal 2019	13,235
Estimated amortization expense, Fiscal 2020	8,219
Estimated amortization expense, Fiscal 2021	8,213
Estimated amortization expense, Fiscal 2022	$ 7,904

Goodwill and Other Identifiab52

Goodwill and Other Identifiable Intangible Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 02, 2017	Nov. 26, 2016
Goodwill and Other Identifiable Intangible Assets (Textual) [Abstract]
Amortization expense on identifiable intangible assets	$ 12.8	$ 1.2

Debt (Details)

Debt (Details)	3 Months Ended	9 Months Ended
	Dec. 02, 2017USD ($)	Dec. 02, 2017CAD	Nov. 26, 2016USD ($)	Dec. 02, 2017USD ($)	Mar. 04, 2017CAD	Mar. 04, 2017USD ($)
Line of Credit Facility [Line Items]
Document Period End Date		Dec. 2, 2017
Interest payments	$ 3,600,000		$ 500,000
Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		CAD 12,000,000		$ 335,000,000
Outstanding borrowings		CAD 1,500,000		209,000,000	CAD 0	$ 45,000,000
Industrial Revenue Bonds
Line of Credit Facility [Line Items]
Debt				20,400,000
Industrial Revenue Bonds | Letter of credit
Line of Credit Facility [Line Items]
Debt				26,300,000
Canada | Industrial Revenue Bonds
Line of Credit Facility [Line Items]
Debt				$ 400,000

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 02, 2017	Nov. 26, 2016	Dec. 02, 2017	Nov. 26, 2016
Components of net periodic benefit cost
Interest cost	$ 133	$ 139	$ 399	$ 417
Expected return on assets	(10)	(10)	(30)	(30)
Amortization of unrecognized net loss	57	56	171	168
Net periodic benefit cost	$ 180	$ 185	$ 540	$ 555

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	Dec. 02, 2017	Mar. 04, 2017
Income Tax Disclosure [Abstract]
Liability for uncertain tax positions, current and noncurrent	$ 5.4	$ 4.5
Liability for unrecognized tax benefit, expected decrease	$ 0.3

Other Non-Current Liabilities O

Other Non-Current Liabilities Other non-current liabilities (Details) - USD ($) $ in Thousands	Dec. 02, 2017	Mar. 04, 2017
Other Liabilities Disclosure [Abstract]
Deferred benefit from New Market Tax Credit transactions	$ 16,708	$ 16,708
Retirement plan obligations	9,635	9,635
Deferred compensation plan	10,104	7,463
Other	23,034	11,981
Total other non-current liabilities	$ 59,481	$ 45,787

Commitments and Contingent Li57

Commitments and Contingent Liabilities (Details) $ in Thousands	Dec. 02, 2017USD ($)
Future minimum rental payments under noncancelable operating leases
Total minimum payments, Remainder of Fiscal 2018	$ 3,615
Total minimum payments, Fiscal 2019	13,546
Total minimum payments, Fiscal 2020	11,493
Total minimum payments, Fiscal 2021	8,477
Total minimum payments, Fiscal 2022	7,626
Total minimum payments, Thereafter	21,232
Total	$ 65,989

Commitments and Contingent Li58

Commitments and Contingent Liabilities (Details 1) - USD ($) $ in Thousands	9 Months Ended
	Dec. 02, 2017	Nov. 26, 2016
Guarantees and warranties
Balance at beginning of period	$ 21,933	$ 16,340
Additional accruals	3,443	6,082
Claims paid	(8,254)	(4,878)
Acquired reserves	5,571	0
Balance at end of period	$ 22,693	$ 17,544

Commitments and Contingent Li59

Commitments and Contingent Liabilities (Details Textual) $ in Millions	Dec. 02, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Company's backlog bonded by performance bonds	$ 86.4
Face value of performance bonds	310
Line of Credit Facility [Line Items]
Purchase obligations	120.9
Industrial Revenue Bonds
Line of Credit Facility [Line Items]
Debt	20.4
Letter of credit | Industrial Revenue Bonds
Line of Credit Facility [Line Items]
Debt	$ 26.3

Segment Information Segment Inf

Segment Information Segment Information (Details Textual)	3 Months Ended	9 Months Ended
	Dec. 02, 2017Segment	Dec. 02, 2017Reportable_Segment
Segment Reporting [Abstract]
Number of Reportable Segments | Segment	4
Number of Operating Segments | Reportable_Segment		6

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 02, 2017	Nov. 26, 2016	Dec. 02, 2017	Nov. 26, 2016
Sales and operating income data
Net sales	$ 356,506	$ 274,072	$ 972,721	$ 800,407
Operating income (loss)	34,535	33,259	86,415	92,557
Architectural Glass
Sales and operating income data
Net sales	96,940	107,002	292,026	299,567
Operating income (loss)	9,107	11,708	28,687	30,855
Architectural Services
Sales and operating income data
Net sales	49,077	64,380	146,056	204,934
Operating income (loss)	2,547	4,918	4,102	14,336
Architectural Framing Systems
Sales and operating income data
Net sales	194,157	90,850	493,672	264,212
Operating income (loss)	18,452	11,838	46,958	35,070
Large-Scale Optical
Sales and operating income data
Net sales	26,003	22,084	64,897	63,382
Operating income (loss)	6,724	5,910	15,022	15,613
Intersegment eliminations
Sales and operating income data
Net sales	(9,671)	(10,244)	(23,930)	(31,688)
Corporate and other
Sales and operating income data
Operating income (loss)	$ (2,295)	$ (1,115)	$ (8,354)	$ (3,317)