Apogee Enterprises (APOG) 10-Q 11 Jul 19 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 01, 2019	Jul. 10, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	APOGEE ENTERPRISES, INC.
Entity Central Index Key	0000006845
Document Type	10-Q
Document Period End Date	Jun. 1, 2019
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--02-29
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		26,518,842
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Shell Company	false

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 02, 2019
Current assets
Cash and cash equivalents	$ 20,619	$ 17,087
Restricted cash	8,337	12,154
Receivables, net of allowance for doubtful accounts	209,338	192,767
Inventories	77,345	78,344
Refundable income taxes	61,069	55,095
Other current assets	16,081	16,451
Total current assets	392,789	371,898
Property, plant and equipment, net	317,522	315,823
Operating Lease, Right-of-Use Asset	46,780	0
Goodwill	185,237	185,832
Intangible assets	144,908	148,235
Other assets	45,003	46,380
Total assets	1,132,239	1,068,168
Current liabilities
Accounts payable	73,017	72,219
Accrued payroll and related benefits	25,864	41,119
Other current liabilities	85,090	92,696
Billings in excess of costs and earnings on uncompleted contracts	20,230	21,478
Operating Lease, Liability, Current	10,704	0
Total current liabilities	214,905	227,512
Long-term debt	293,309	245,724
Operating Lease, Liability, Noncurrent	37,220	0
Long-term self-insurance reserves	23,117	21,433
Other non-current liabilities	78,712	77,182
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	8,843	9,005
Additional paid-in capital	150,240	151,842
Retained earnings	360,394	367,597
Common stock held in trust	(767)	(755)
Deferred compensation obligations	767	755
Accumulated other comprehensive loss	(34,501)	(32,127)
Total shareholders’ equity	484,976	496,317
Total liabilities and shareholders' equity	$ 1,132,239	$ 1,068,168

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Jun. 01, 2019	Mar. 02, 2019
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	26,530,369	27,015,127
Common stock, shares outstanding	26,530,369	27,015,127

Consolidated Results of Operati

Consolidated Results of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Income Statement [Abstract]
Net sales	$ 355,365	$ 336,531
Cost of sales		255,801
Gross profit	80,967	80,730
Selling, general and administrative expenses	57,926	58,735
Operating income	23,041	21,995
Interest expense	2,611	1,741
Earnings before income taxes	20,430	20,254
Income tax expense (benefit)	4,987	4,881
Net earnings	$ 15,443	$ 15,373
Earnings per share - basic
Net earnings	$ 0.58	$ 0.55
Earnings per share - diluted
Net earnings	$ 0.58	$ 0.54
Weighted average basic shares outstanding	26,597	28,189
Weighted average diluted shares outstanding	26,843	28,437

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Statement of Comprehensive Income [Abstract]
Net earnings	$ 15,443	$ 15,373
Other comprehensive earnings:
Unrealized gain on marketable securities, net of $47 and $2 of tax expense, respectively	181	10
Unrealized gain (loss) on foreign currency hedge, net of $2 and ($92) of tax expense (benefit), respectively	5	(304)
Foreign currency translation adjustments	(2,560)	(517)
Other comprehensive earnings (loss)	(2,374)	(811)
Total comprehensive earnings	$ 13,069	$ 14,562

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Earnings (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Statement of Comprehensive Income [Abstract]
Tax expense (benefit) on marketable securities	$ 47	$ 2
Tax benefit on foreign currency hedge	$ (2)	$ 92

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Operating Activities
Net earnings	$ 15,443	$ 15,373
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	11,102	14,050
Stock-based compensation	1,618	1,514
Deferred income taxes	6,438	4,094
Cash flows from operating leases	2,902	0
Other, net	(1,762)	(440)
Changes in operating assets and liabilities:
Receivables	(16,982)	26,183
Inventories	835	6,578
Costs and earnings on contracts in excess of billings	(6,007)	(35,258)
Accounts payable and accrued expenses	(16,834)	(19,715)
Billings in excess of costs and earnings on uncompleted contracts	(1,198)	11,933
Refundable and accrued income taxes	(4,369)	301
Other, net	(928)	730
Net cash provided by (used in) operating activities	(9,742)	25,343
Investing Activities
Capital expenditures	(11,198)	(9,327)
Purchases of marketable securities	(880)	(8,619)
Sales/maturities of marketable securities	1,112	2,495
Other	(1,056)	(779)
Net cash provided by (used in) investing activities	(12,022)	(16,230)
Financing Activities
Borrowings on line of credit	103,000	90,000
Payments on line of credit	55,500	92,000
Repurchase and retirement of common stock	20,010	0
Dividends paid	(4,598)	(4,410)
Proceeds from (Payments for) Other Financing Activities	(1,270)	(721)
Net cash provided by (used in) financing activities	21,622	(7,131)
Decrease in cash and cash equivalents	(142)	1,982
Effect of exchange rates on cash	(143)	279
Cash, cash equivalents and restricted cash at beginning of year	29,241	19,359
Cash, cash equivalents and restricted cash at end of period	28,956	21,620
Noncash Activity
Capital expenditures in accounts payable	$ 1,667	$ 2,162

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 Mar. 03, 2018	28,158
Beginning balance at Mar. 03, 2018		$ 9,386	$ 152,763	$ 373,259	$ (922)	$ 922	$ (24,053)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Reclassification from AOCI, Current Period, Tax	$ 737
Net earnings	15,373			15,373
Unrealized gain on marketable securities, net of tax expense	10						10
Unrealized gain on marketable securities, net of $2 tax expense	$ (304)
Unrealized loss on foreign currency hedge, net of $92 tax benefit							(304)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent						0	(517)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	90
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		30	35		91	(91)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition			1,514
Outstanding shares awards exercised	19
Stock Issued During Period, Value, Stock Options Exercised		6	177
Stock Repurchased and Retired During Period, Shares	(41)
Stock Repurchased and Retired During Period, Value		(13)	(228)	(1,440)
Dividends, Common Stock, Cash				(4,410)
Ending balance (in shares) at Jun. 02, 2018	28,226
Ending balance at Jun. 02, 2018		9,409	154,261	386,518	(831)	831	(25,601)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect adjustment (see Note 1)	$ 2,999
Beginning balance (in shares) at Mar. 02, 2019	27,015
Beginning balance at Mar. 02, 2019	$ 496,317	9,005	151,842	367,597	(755)	755	(32,127)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	15,443			15,443
Unrealized gain on marketable securities, net of tax expense	181						181
Unrealized gain on marketable securities, net of $2 tax expense	$ 5	0	0	0	0	0	5
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent						0	(2,560)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	79
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		26	14		(12)	12
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition			1,618
Share repurchases (in shares)	(532)
Share repurchases		(177)	(3,051)	(16,782)	0	0	0
Stock Repurchased and Retired During Period, Shares	(32)
Stock Repurchased and Retired During Period, Value		(11)	(183)	(1,266)
Dividends, Common Stock, Cash				(4,598)
Ending balance (in shares) at Jun. 01, 2019	26,530
Ending balance at Jun. 01, 2019	$ 484,976	$ 8,843	$ 150,240	$ 360,394	$ (767)	$ 767	$ (34,501)

Consolidated Statement of Sha_2

Consolidated Statement of Shareholders Equity (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Statement of Stockholders' Equity [Abstract]
Tax expense on marketable securities	$ 47	$ 2
Tax benefit on foreign currency hedge	(2)	92
Unrealized gain on marketable securities, net of tax expense	$ 181	$ 10

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 01, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies 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 2, 2019 . 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 three -month period ended June 1, 2019 are not necessarily indicative of the results to be expected for the full year. Adoption of new accounting standards At the beginning of fiscal 2020, we adopted the guidance in ASC 842, Leases , following a modified retrospective approach and elected not to restate prior periods. Adoption of the new standard resulted in recording operating lease assets and liabilities of approximately $50 million as of March 3, 2019 and did not materially impact our consolidated net earnings and cash flows. Refer to additional information in Note 7. Accounting standards not yet adopted In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments , which revises guidance for the accounting for credit losses on financial instruments within its scope. The new standard introduces an approach based on expected losses, to estimate credit losses on certain types of financial instruments and modifies the impairment model for available-for-sale debt securities. This ASU is effective for our fiscal year 2021. Entities are required to apply the standard's provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are currently assessing this ASU's impact on our consolidated financial statements. Subsequent events We have evaluated subsequent events for potential recognition and disclosure through the date of this filing. Subsequent to the end of the quarter, we amended and extended our revolving line of credit facility. Refer to additional information in Note 6.

Revenue, Receivables and Contra

Revenue, Receivables and Contract Assets and Liabilities	3 Months Ended
	Jun. 01, 2019
Revenue from Contract with Customer [Abstract]
Revenue, Receivables and Contract Assets and Liabilities	Revenue, Receivables and Contract Assets and Liabilities Revenue The following table disaggregates total revenue by timing of recognition (see Note 13 for disclosure of revenue by segment): Three Months Ended In thousands June 1, 2019 June 2, 2018 Recognized at shipment $ 155,265 $ 156,867 Recognized over time 200,100 179,664 Total $ 355,365 $ 336,531 Receivables Trade and construction accounts receivable consist of amounts billed and due from customers. The amounts due are stated at their estimated net realizable value. We maintain an allowance for doubtful accounts to provide for the estimated amount of receivables that will not be collected. This allowance is based on an assessment of customer creditworthiness, historical payment experience and the age of outstanding receivables. Retainage on construction contracts represents amounts withheld by our customers on long-term projects until the project reaches a level of completion where amounts are released. In thousands June 1, 2019 March 2, 2019 Trade accounts $ 160,135 $ 145,693 Construction contracts 19,626 19,050 Contract retainage 34,287 32,396 Total receivables 214,048 197,139 Less: allowance for doubtful accounts (4,710 ) (4,372 ) Net receivables $ 209,338 $ 192,767 Contract assets and liabilities Contract assets consist of retainage, costs and earnings in excess of billings and other unbilled amounts typically generated when revenue recognized exceeds the amount billed to the customer. Contract liabilities consist of billings in excess of costs and earnings and other deferred revenue on contracts. Retainage is classified within receivables and deferred revenue is classified within other current liabilities on our consolidated balance sheets. The time period between when performance obligations are complete and when payment is due is not significant. In certain of our businesses that recognize revenue over time, progress billings follow an agreed-upon schedule of values, and retainage is withheld by the customer until the project reaches a level of completion where amounts are released. In thousands June 1, 2019 March 2, 2019 Contract assets $ 95,356 $ 87,491 Contract liabilities 23,081 24,083 The increase in contract assets was due to timing of costs incurred in advance of billings. The change in contract liabilities was due to timing of project activity within our businesses that operate under long-term contracts. In the first three months of fiscal 2020 , we recognized revenue of $14.2 million related to contract liabilities at March 2, 2019 , and revenue of $1.9 million related to performance obligations satisfied in previous periods due to changes in contract estimates. In the first quarter of fiscal 2019 , we recognized revenue of $9.1 million related to contract liabilities at March 4, 2018, and recognized revenue of $2.3 million related to performance obligations satisfied in previous periods due to changes in contract estimates. Some of our contracts have an expected duration of longer than a year, with performance obligations extending over that timeframe. Generally these contracts are in our businesses with long-term contracts which recognize revenue over time. As of June 1, 2019 , the transaction price associated with unsatisfied performance obligations was approximately $766.1 million . The performance obligations are expected to be satisfied, and the corresponding revenue to be recognized, over the following estimated time periods: In thousands June 1, 2019 Within one year $ 394,690 Within two years 267,140 Beyond 104,250 Total $ 766,080

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Jun. 01, 2019
Inventory Disclosure [Abstract]
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information Inventories In thousands June 1, 2019 March 2, 2019 Raw materials $ 43,921 $ 43,890 Work-in-process 16,535 15,533 Finished goods 16,889 18,921 Total inventories $ 77,345 $ 78,344 Other current liabilities In thousands June 1, 2019 March 2, 2019 Warranties $ 11,411 $ 12,475 Accrued project losses 32,263 37,085 Taxes 6,696 8,026 Accrued self-insurance reserves 6,658 9,537 Other 28,062 25,573 Total other current liabilities $ 85,090 $ 92,696 Other non-current liabilities In thousands June 1, 2019 March 2, 2019 Deferred benefit from New Market Tax Credit transactions $ 26,458 $ 26,458 Retirement plan obligations 7,633 7,633 Deferred compensation plan 10,892 10,408 Other 33,729 32,683 Total other non-current liabilities $ 78,712 $ 77,182

Financial Instruments

Financial Instruments	3 Months Ended
	Jun. 01, 2019
Marketable Securities [Abstract]
Financial Instruments	Financial Instruments Marketable securities We hold the following available-for-sale marketable securities, made up of municipal and corporate bonds: In thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value June 1, 2019 $ 12,121 $ 181 $ (2 ) $ 12,300 March 2, 2019 12,481 59 (108 ) 12,432 We have a wholly-owned insurance subsidiary, Prism Assurance, Ltd. (Prism), which holds these municipal and corporate 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 and corporate bonds, for the purpose of providing collateral for Prism’s obligations under the reinsurance agreements. The amortized cost and estimated fair values of these bonds at June 1, 2019 , 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 $ 600 $ 601 Due after one year through five years 9,293 9,429 Due after five years through 10 years 1,822 1,863 Due after 10 years through 15 years — — Due beyond 15 years 406 407 Total $ 12,121 $ 12,300 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 June 1, 2019 Cash equivalents Money market funds $ 2,611 $ — $ 2,611 Commercial paper — 4,500 4,500 Total cash equivalents 2,611 4,500 7,111 Short-term securities Municipal and corporate bonds — 601 601 Long-term securities Municipal and corporate bonds — 11,699 11,699 Total assets at fair value $ 2,611 $ 16,800 $ 19,411 March 2, 2019 Cash equivalents Money market funds $ 2,015 $ — $ 2,015 Commercial paper — 300 300 Total cash equivalents 2,015 300 2,315 Short-term securities Municipal and corporate bonds — 402 402 Long-term securities Municipal and corporate bonds — 12,030 12,030 Total assets at fair value $ 2,015 $ 12,732 $ 14,747 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 Mutual funds were measured at fair value based on quoted prices for identical assets in active markets. Municipal and corporate 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. Foreign currency instruments We periodically enter into forward purchase foreign currency contracts, generally with an original maturity date of less than one year, to hedge foreign currency exchange rate risk. As of June 1, 2019 , we held foreign exchange forward contracts with a U.S. dollar notional value of $29.8 million , with the objective of reducing the exposure to fluctuations in the Canadian dollar and the Euro. The fair value of these contracts was a liability of $0.7 million as of June 1, 2019 . These forward contracts are measured at fair value using unobservable market inputs, such as quotations on forward foreign exchange points and foreign currency exchange rates, and would be classified as Level 2 within the fair value hierarchy above.

Goodwill and Other Identifiable

Goodwill and Other Identifiable Intangible Assets	3 Months Ended
	Jun. 01, 2019
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 March 3, 2018 $ 143,308 $ 25,971 $ 1,120 $ 10,557 $ 180,956 Goodwill adjustments for purchase accounting 6,267 — — — 6,267 Foreign currency translation (1,129 ) (262 ) — — (1,391 ) Balance at March 2, 2019 148,446 25,709 1,120 10,557 185,832 Foreign currency translation (578 ) (17 ) — — (595 ) Balance at June 1, 2019 $ 147,868 $ 25,692 $ 1,120 $ 10,557 $ 185,237 The gross carrying amount of other intangible assets and related accumulated amortization was: In thousands Gross Carrying Amount Accumulated Amortization Impairment Foreign Currency Translation Net June 1, 2019 Definite-lived intangible assets: Customer relationships $ 120,238 $ (28,094 ) $ — $ (1,190 ) $ 90,954 Other intangibles 40,847 (31,727 ) — (322 ) 8,798 Total definite-lived intangible assets 161,085 (59,821 ) — (1,512 ) 99,752 Indefinite-lived intangible assets: Trademarks 45,421 — — (265 ) 45,156 Total intangible assets $ 206,506 $ (59,821 ) $ — $ (1,777 ) $ 144,908 March 2, 2019 Definite-lived intangible assets: Customer relationships $ 122,816 $ (26,637 ) $ — $ (2,578 ) $ 93,601 Other intangibles 41,697 (31,634 ) — (850 ) 9,213 Total definite-lived intangible assets 164,513 (58,271 ) — (3,428 ) 102,814 Indefinite-lived intangible assets: Trademarks 49,078 — (3,141 ) (516 ) 45,421 Total intangible assets $ 213,591 $ (58,271 ) $ (3,141 ) $ (3,944 ) $ 148,235 Amortization expense on definite-lived intangible assets was $1.9 million and $4.8 million for the three -month periods ended June 1, 2019 and June 2, 2018 , 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 June 1, 2019 , the estimated future amortization expense for definite-lived intangible assets was: In thousands Remainder of Fiscal 2020 Fiscal 2021 Fiscal 2022 Fiscal 2023 Fiscal 2024 Estimated amortization expense $ 5,930 $ 7,900 $ 7,797 $ 7,438 $ 7,358

Debt

Debt	3 Months Ended
	Jun. 01, 2019
Debt Disclosure [Abstract]
Debt	Debt As of June 1, 2019, we had 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 $272.5 million , as of June 1, 2019 , and $225.0 million , as of March 2, 2019 . 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 June 1, 2019 , we were in compliance with both financial covenants. Additionally, at June 1, 2019 , we had a total of $25.1 million of ongoing letters of credit related to industrial revenue bonds, construction contracts and insurance collateral that expire in fiscal years 2020 to 2032 and reduce availability of funds under our credit facility. Subsequent to the end of the quarter, we amended and extended this financing arrangement, consisting of a $235 million revolving credit facility, with a maturity of June 2024, and a $150 million term loan, with a maturity of June 2020. The amended and extended facility contains the same two financial covenants as described above. At June 1, 2019 , 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 June 1, 2019 , 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 4. We also maintain two Canadian demand credit facilities totaling $ 12.0 million Canadian dollars. As of June 1, 2019 and March 2, 2019 , no borrowings were outstanding under the facilities. Borrowings under these facilities are made available at the sole discretion of the lenders and are payable on demand. Interest payments were $2.4 million and $1.8 million for the three months ended June 1, 2019 and June 2, 2018 , respectively.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Jun. 01, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities 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 June 1, 2019 , $306.3 million of our backlog was bonded by these types of bonds with a face value of $638.9 million . These bonds do not have stated expiration dates, as we are generally released from the bonds upon completion of the contract. We have not been required to make any payments under these bonds with respect to our existing businesses. Warranty and project-related contingencies 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: Three Months Ended In thousands June 1, 2019 June 2, 2018 Balance at beginning of period $ 16,737 $ 22,517 Additional accruals 1,787 1,062 Claims paid (2,771 ) (1,193 ) Balance at end of period $ 15,753 $ 22,386 Additionally, we are subject to project management and installation-related contingencies as a result of our fixed-price material supply and installation service contracts, primarily in our Architectural Services segment and certain of our Architectural Framing Systems businesses. We actively manage the risk of these exposures through contract negotiations, proactive project management and insurance coverages. We have recorded an estimated liability related to legacy EFCO projects of $38.0 million and $42.8 million as of June 1, 2019 and March 2, 2019 , respectively. Letters of credit At June 1, 2019 , we had $25.1 million of ongoing letters of credit, all of which have been issued under our committed revolving credit facility, as discussed in Note 6. Purchase obligations Purchase obligations for raw material commitments and capital expenditures totaled $132.7 million as of June 1, 2019 . New Markets Tax Credit transactions We have entered into four separate NMTC programs to support our operational expansion, including two transactions completed in fiscal 2019 . Proceeds received from investors on these transactions are included within other non-current liabilities on our consolidated balance sheets. The NMTC arrangements are subject to 100 percent tax recapture for a period of seven years from the date of each respective transaction. Therefore, upon the termination of each arrangement, these proceeds will be recognized in earnings in exchange for the transfer of tax credits. The direct and incremental costs incurred in structuring these arrangements have been deferred and are included in other non-current assets on our consolidated balance sheets. These costs will be recognized in conjunction with the recognition of the related proceeds on each arrangement. During the construction phase, we are required to hold cash dedicated to fund each capital project which is classified as restricted cash on our consolidated balance sheets. Variable-interest entities, which have been included within our consolidated financial statements, have been created as a result of the structure of these transactions, as investors in the programs do not have a material interest in their underlying economics. The table below provides a summary of our outstanding NMTC transactions (in millions): Inception date Termination date Proceeds received Deferred costs Net benefit November 2013 October 2020 $ 10.7 $ 3.0 $ 7.7 June 2016 May 2023 6.0 0.9 5.1 August 2018 July 2025 6.6 0.9 5.7 September 2018 August 2025 3.2 0.8 2.4 Total $ 26.5 $ 5.6 $ 20.9 Litigation On November 5, 2018, a shareholder filed a purported securities class action against the Company and certain named executive officers. On April 26, 2019, the new lead plaintiff filed an amended complaint, alleging that, during the purported class period of May 1, 2017 to April 10, 2019, the Company and the named executive officers made materially false or misleading statements or omissions about the Company's acquisition of EFCO Corporation on June 12, 2017, and about the Company's Architectural Glass business segment, in violation of the federal securities laws. We intend to vigorously defend this matter. On December 17, 2018, a different shareholder filed a derivative lawsuit, purportedly on behalf of the Company, against certain of our executive officers and directors claiming breaches of fiduciary duty, waste of corporate assets and unjust enrichment. This complaint alleges that the officers and directors allegedly made materially false or misleading statements or omissions about the Company's business, operations and prospects, particularly with respect to our Architectural Glass business segment, during the period of June 28, 2018 and September 17, 2018. This matter has been stayed, pending resolution of a motion to dismiss the foregoing matter. We intend to vigorously defend this matter. In addition to the foregoing, the Company is a party to various legal proceedings incidental to its normal operating activities. In particular, like others in the construction supply and services industry, the Company is routinely involved in various disputes and claims arising out of construction projects, sometimes involving significant monetary damages or product replacement. The Company is also subject to litigation arising out of areas such as employment practices, workers compensation and general liability matters. Although it is very difficult to accurately predict the outcome of any such proceedings, facts currently available indicate that no matters will result in losses that would have a material adverse effect on the results of operations, cash flows or financial condition of the Company.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Jun. 01, 2019
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 $1.6 million for the three -month period ended June 1, 2019 and $1.5 million for the three -month period ended June 2, 2018 . Stock options and SARs Stock option and SAR activity for the current three -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 2, 2019 100,341 $ 8.34 Awards exercised — — Outstanding and exercisable at June 1, 2019 100,341 8.34 2.3 years $ 2,800,517 No awards were exercised for the three -months ended June 1, 2019 . For the three -months ended June 2, 2018 , cash proceeds from the exercise of stock options were $0.2 million and 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 $0.6 million . Nonvested shares and share units Nonvested share activity for the current three -month period is summarized as follows: Nonvested shares and units Number of Shares and Units Weighted Average Grant Date Fair Value Nonvested at March 2, 2019 286,613 $ 47.00 Granted 80,571 39.50 Vested (73,771 ) 45.09 Canceled (1,500 ) 47.35 Nonvested at June 1, 2019 291,913 45.41 At June 1, 2019 , there was $8.2 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 24 months. The total fair value of shares vested during the three months ended June 1, 2019 was $3.0 million .

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Jun. 01, 2019
Retirement Benefits [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 In thousands June 1, 2019 June 2, 2018 Interest cost $ 123 $ 127 Expected return on assets (46 ) (10 ) Amortization of unrecognized net loss 55 57 Net periodic benefit cost $ 132 $ 174

Income Taxes

Income Taxes	3 Months Ended
	Jun. 01, 2019
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 2016, or state and local income tax examinations for years prior to fiscal 2013. The Company is not currently under U.S. federal examination for years subsequent to fiscal year 2015, 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 was approximately $5.3 million at June 1, 2019 and $5.1 million at March 2, 2019 . 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 $0.5 million during the next 12 months due to lapsing of statutes.

Earnings per Share

Earnings per Share	3 Months Ended
	Jun. 01, 2019
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 In thousands June 1, 2019 June 2, 2018 Basic earnings per share – weighted average common shares outstanding 26,597 28,189 Weighted average effect of nonvested share grants and assumed exercise of stock options 246 248 Diluted earnings per share – weighted average common shares and potential common shares outstanding 26,843 28,437 Stock awards excluded from the calculation of earnings per share because the effect was anti-dilutive (award price greater than average market price of the shares) 104 147

Segment Information

Segment Information	3 Months Ended
	Jun. 01, 2019
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 In thousands June 1, 2019 June 2, 2018 Net sales from operations Architectural Framing Systems $ 180,522 $ 179,037 Architectural Glass 100,291 76,925 Architectural Services 65,147 70,727 Large-Scale Optical 21,259 20,761 Intersegment eliminations (11,854 ) (10,919 ) Net sales $ 355,365 $ 336,531 Operating income (loss) from operations Architectural Framing Systems $ 12,273 $ 12,339 Architectural Glass 6,399 1,579 Architectural Services 4,573 5,155 Large-Scale Optical 4,177 4,981 Corporate and other (4,381 ) (2,059 ) Operating income $ 23,041 $ 21,995 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.

Leases Leases

Leases Leases	3 Months Ended
	Jun. 01, 2019
Leases [Abstract]
Leases	Leases We lease certain of the buildings and equipment used in our operations. We determine if an arrangement contains a lease at inception. Currently, all of our lease arrangements are classified as operating leases. We elected the package of practical expedients permitted under the transition guidance in adopting ASC 842, which among other things, allowed us to carry forward our historical lease classification. Operating lease assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term and lease expense is recognized on a straight-line basis over the lease term. Our leases have remaining lease terms of one to eight years, some of which include renewal options that can extend the lease for up to an additional ten years at our sole discretion. We have made an accounting policy election not to record leases with an original term of 12 months or less on our consolidated balance sheet and such leases are expensed on a straight-line basis over the lease term. In determining lease asset value, we consider fixed or variable payment terms, prepayments, incentives, and options to extend, terminate or purchase. Renewal, termination or purchase options affect the lease term used for determining lease asset value only if the option is reasonably certain to be exercised. We use a discount rate for each lease based upon an estimated incremental borrowing rate over a similar term. We have elected the practical expedient to account for lease and nonlease components (e.g., common-area maintenance costs) as a single lease component. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We are not a lessor in any transactions. The components of lease expense were as follows: Three Months Ended In thousands June 1, 2019 Operating lease cost $ 3,373 Short-term lease cost 682 Variable lease cost 713 Total lease cost $ 4,768 Other supplemental information related to leases was as follows: Three Months Ended In thousands except weighted-average data June 1, 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 3,300 Lease assets obtained in exchange for new operating lease liabilities $ 706 Weighted-average remaining lease term - operating leases 5.5 years Weighted-average discount rate - operating leases 3.74 % Future maturities of lease liabilities are as follows: In thousands June 1, 2019 Remainder of Fiscal 2020 $ 9,782 Fiscal 2021 10,346 Fiscal 2022 8,716 Fiscal 2023 7,920 Fiscal 2024 6,007 Fiscal 2025 4,298 Thereafter 6,369 Total lease payments 53,438 Less: Amounts representing interest (5,514 ) Present value of lease liabilities $ 47,924 We have two operating leases with a related party; total rent paid for these facilities was approximately $0.5 million for the three months ended June 1, 2019 , and the future minimum lease commitment is $12.5 million . As of June 1, 2019 , we have additional future operating lease commitments of $15.5 million for leases that have not yet commenced, with terms ranging from one to ten years . Aggregate annual future rental commitments under operating leases with noncancellable terms of more than one year at March 2, 2019 were reported under previous lease accounting standards as follows: In thousands 2020 2021 2022 2023 2024 Thereafter Total Total minimum payments $ 14,888 11,787 9,669 8,772 6,735 16,806 $ 68,657

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Jun. 01, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impact of new accounting guidance

Revenue, Receivables and Cont_2

Revenue, Receivables and Contract Assets and Liabilities (Tables)	3 Months Ended
	Jun. 01, 2019
Revenue from Contract with Customer [Abstract]
Disaggregated revenue data	The following table disaggregates total revenue by timing of recognition (see Note 13 for disclosure of revenue by segment): Three Months Ended In thousands June 1, 2019 June 2, 2018 Recognized at shipment $ 155,265 $ 156,867 Recognized over time 200,100 179,664 Total $ 355,365 $ 336,531
Net receivables	In thousands June 1, 2019 March 2, 2019 Trade accounts $ 160,135 $ 145,693 Construction contracts 19,626 19,050 Contract retainage 34,287 32,396 Total receivables 214,048 197,139 Less: allowance for doubtful accounts (4,710 ) (4,372 ) Net receivables $ 209,338 $ 192,767
Contract assets and liabilities	In thousands June 1, 2019 March 2, 2019 Contract assets $ 95,356 $ 87,491 Contract liabilities 23,081 24,083
Performance obligations expected to be satisfied	The performance obligations are expected to be satisfied, and the corresponding revenue to be recognized, over the following estimated time periods: In thousands June 1, 2019 Within one year $ 394,690 Within two years 267,140 Beyond 104,250 Total $ 766,080

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Jun. 01, 2019
Inventory Disclosure [Abstract]
Components of inventories	Inventories In thousands June 1, 2019 March 2, 2019 Raw materials $ 43,921 $ 43,890 Work-in-process 16,535 15,533 Finished goods 16,889 18,921 Total inventories $ 77,345 $ 78,344
Other current liabilities	Other current liabilities In thousands June 1, 2019 March 2, 2019 Warranties $ 11,411 $ 12,475 Accrued project losses 32,263 37,085 Taxes 6,696 8,026 Accrued self-insurance reserves 6,658 9,537 Other 28,062 25,573 Total other current liabilities $ 85,090 $ 92,696
Other non-current liabilities	Other non-current liabilities In thousands June 1, 2019 March 2, 2019 Deferred benefit from New Market Tax Credit transactions $ 26,458 $ 26,458 Retirement plan obligations 7,633 7,633 Deferred compensation plan 10,892 10,408 Other 33,729 32,683 Total other non-current liabilities $ 78,712 $ 77,182

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Jun. 01, 2019
Marketable Securities [Abstract]
Amortized cost, gross unrealized gains and losses, and estimated fair values of investments available for sale	We hold the following available-for-sale marketable securities, made up of municipal and corporate bonds: In thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value June 1, 2019 $ 12,121 $ 181 $ (2 ) $ 12,300 March 2, 2019 12,481 59 (108 ) 12,432
Schedule of amortized cost and estimated fair values of investments by contractual maturity	The amortized cost and estimated fair values of these bonds at June 1, 2019 , 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 $ 600 $ 601 Due after one year through five years 9,293 9,429 Due after five years through 10 years 1,822 1,863 Due after 10 years through 15 years — — Due beyond 15 years 406 407 Total $ 12,121 $ 12,300
Fair value measurements	In thousands Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Total Fair Value June 1, 2019 Cash equivalents Money market funds $ 2,611 $ — $ 2,611 Commercial paper — 4,500 4,500 Total cash equivalents 2,611 4,500 7,111 Short-term securities Municipal and corporate bonds — 601 601 Long-term securities Municipal and corporate bonds — 11,699 11,699 Total assets at fair value $ 2,611 $ 16,800 $ 19,411 March 2, 2019 Cash equivalents Money market funds $ 2,015 $ — $ 2,015 Commercial paper — 300 300 Total cash equivalents 2,015 300 2,315 Short-term securities Municipal and corporate bonds — 402 402 Long-term securities Municipal and corporate bonds — 12,030 12,030 Total assets at fair value $ 2,015 $ 12,732 $ 14,747

Goodwill and Other Identifiab_2

Goodwill and Other Identifiable Intangible Assets (Tables)	3 Months Ended
	Jun. 01, 2019
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 March 3, 2018 $ 143,308 $ 25,971 $ 1,120 $ 10,557 $ 180,956 Goodwill adjustments for purchase accounting 6,267 — — — 6,267 Foreign currency translation (1,129 ) (262 ) — — (1,391 ) Balance at March 2, 2019 148,446 25,709 1,120 10,557 185,832 Foreign currency translation (578 ) (17 ) — — (595 ) Balance at June 1, 2019 $ 147,868 $ 25,692 $ 1,120 $ 10,557 $ 185,237
Schedule of finite lived intangible assets	The gross carrying amount of other intangible assets and related accumulated amortization was: In thousands Gross Carrying Amount Accumulated Amortization Impairment Foreign Currency Translation Net June 1, 2019 Definite-lived intangible assets: Customer relationships $ 120,238 $ (28,094 ) $ — $ (1,190 ) $ 90,954 Other intangibles 40,847 (31,727 ) — (322 ) 8,798 Total definite-lived intangible assets 161,085 (59,821 ) — (1,512 ) 99,752 Indefinite-lived intangible assets: Trademarks 45,421 — — (265 ) 45,156 Total intangible assets $ 206,506 $ (59,821 ) $ — $ (1,777 ) $ 144,908 March 2, 2019 Definite-lived intangible assets: Customer relationships $ 122,816 $ (26,637 ) $ — $ (2,578 ) $ 93,601 Other intangibles 41,697 (31,634 ) — (850 ) 9,213 Total definite-lived intangible assets 164,513 (58,271 ) — (3,428 ) 102,814 Indefinite-lived intangible assets: Trademarks 49,078 — (3,141 ) (516 ) 45,421 Total intangible assets $ 213,591 $ (58,271 ) $ (3,141 ) $ (3,944 ) $ 148,235
Schedule of estimated future amortization expense for identifiable intangible assets	At June 1, 2019 , the estimated future amortization expense for definite-lived intangible assets was: In thousands Remainder of Fiscal 2020 Fiscal 2021 Fiscal 2022 Fiscal 2023 Fiscal 2024 Estimated amortization expense $ 5,930 $ 7,900 $ 7,797 $ 7,438 $ 7,358

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	3 Months Ended
	Jun. 01, 2019
Commitments and Contingencies Disclosure [Abstract]
Future minimum rental payments under noncancelable operating leases
Guarantees and warranties	A warranty rollforward follows: Three Months Ended In thousands June 1, 2019 June 2, 2018 Balance at beginning of period $ 16,737 $ 22,517 Additional accruals 1,787 1,062 Claims paid (2,771 ) (1,193 ) Balance at end of period $ 15,753 $ 22,386

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Jun. 01, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Award transactions on stock options	Stock option and SAR activity for the current three -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 2, 2019 100,341 $ 8.34 Awards exercised — — Outstanding and exercisable at June 1, 2019 100,341 8.34 2.3 years $ 2,800,517
Nonvested share award transactions	Nonvested share activity for the current three -month period is summarized as follows: Nonvested shares and units Number of Shares and Units Weighted Average Grant Date Fair Value Nonvested at March 2, 2019 286,613 $ 47.00 Granted 80,571 39.50 Vested (73,771 ) 45.09 Canceled (1,500 ) 47.35 Nonvested at June 1, 2019 291,913 45.41

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Jun. 01, 2019
Retirement Benefits [Abstract]
Components of net periodic benefit cost	Components of net periodic benefit cost were: Three Months Ended In thousands June 1, 2019 June 2, 2018 Interest cost $ 123 $ 127 Expected return on assets (46 ) (10 ) Amortization of unrecognized net loss 55 57 Net periodic benefit cost $ 132 $ 174

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Jun. 01, 2019
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 In thousands June 1, 2019 June 2, 2018 Basic earnings per share – weighted average common shares outstanding 26,597 28,189 Weighted average effect of nonvested share grants and assumed exercise of stock options 246 248 Diluted earnings per share – weighted average common shares and potential common shares outstanding 26,843 28,437 Stock awards excluded from the calculation of earnings per share because the effect was anti-dilutive (award price greater than average market price of the shares) 104 147

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Jun. 01, 2019
Segment Reporting [Abstract]
Sales and operating income data	Three Months Ended In thousands June 1, 2019 June 2, 2018 Net sales from operations Architectural Framing Systems $ 180,522 $ 179,037 Architectural Glass 100,291 76,925 Architectural Services 65,147 70,727 Large-Scale Optical 21,259 20,761 Intersegment eliminations (11,854 ) (10,919 ) Net sales $ 355,365 $ 336,531 Operating income (loss) from operations Architectural Framing Systems $ 12,273 $ 12,339 Architectural Glass 6,399 1,579 Architectural Services 4,573 5,155 Large-Scale Optical 4,177 4,981 Corporate and other (4,381 ) (2,059 ) Operating income $ 23,041 $ 21,995

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 01, 2019
Leases [Abstract]
Schedule of lease cost	The components of lease expense were as follows: Three Months Ended In thousands June 1, 2019 Operating lease cost $ 3,373 Short-term lease cost 682 Variable lease cost 713 Total lease cost $ 4,768 Other supplemental information related to leases was as follows: Three Months Ended In thousands except weighted-average data June 1, 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 3,300 Lease assets obtained in exchange for new operating lease liabilities $ 706 Weighted-average remaining lease term - operating leases 5.5 years Weighted-average discount rate - operating leases 3.74 %
Schedule of operating lease liability	Aggregate annual future rental commitments under operating leases with noncancellable terms of more than one year at March 2, 2019 were reported under previous lease accounting standards as follows: In thousands 2020 2021 2022 2023 2024 Thereafter Total Total minimum payments $ 14,888 11,787 9,669 8,772 6,735 16,806 $ 68,657 Future maturities of lease liabilities are as follows: In thousands June 1, 2019 Remainder of Fiscal 2020 $ 9,782 Fiscal 2021 10,346 Fiscal 2022 8,716 Fiscal 2023 7,920 Fiscal 2024 6,007 Fiscal 2025 4,298 Thereafter 6,369 Total lease payments 53,438 Less: Amounts representing interest (5,514 ) Present value of lease liabilities $ 47,924

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Jun. 01, 2019	Mar. 02, 2019
Disaggregation of Revenue [Line Items]
Increase to retained earnings	$ 360,394	$ 367,597
New Accounting Pronouncement, Early Adoption, Effect | Retained earnings | Accounting Standards Update 2018-02
Disaggregation of Revenue [Line Items]
Reclassification of tax effects (see Note 1)	$ 700

Acquisition (Details 1)

Acquisition (Details 1) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 02, 2019	Mar. 03, 2018
Business Acquisition [Line Items]
Goodwill	$ 185,237	$ 185,832	$ 180,956

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018	Mar. 03, 2019	Mar. 02, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset	$ 46,780		$ 50,000	$ 0
Net sales	355,365	$ 336,531
Cost of sales		255,801
Gross profit	80,967	80,730
Selling, general and administrative expenses	57,926	58,735
Operating income	23,041	21,995
Income tax expense	4,987	4,881
Net earnings	15,443	$ 15,373
Inventories	77,345			78,344
Costs and earnings on contracts in excess of billings	61,069			55,095
Billings on contracts in excess of costs and earnings	20,230			21,478
Other current liabilities	85,090			92,696
Retained earnings	$ 360,394			$ 367,597

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 3) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 03, 2019	Mar. 02, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating lease assets	$ 46,780	$ 50,000	$ 0
Operating lease liabilities	$ 47,924	$ 50,000

Revenue, Receivables and Cont_3

Revenue, Receivables and Contract Assets and Liabilities (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Disaggregation of Revenue [Line Items]
Total	$ 355,365	$ 336,531

Revenue, Receivables and Cont_4

Revenue, Receivables and Contract Assets and Liabilities (Details 2) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 02, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 214,048	$ 197,139
Less: allowance for doubtful accounts	(4,710)	(4,372)
Net receivables	209,338	192,767
Trade accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	160,135	145,693
Construction contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	19,626	19,050
Construction contracts - retainage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 34,287	$ 32,396

Revenue, Receivables and Cont_5

Revenue, Receivables and Contract Assets and Liabilities (Details 3) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 02, 2019
Revenue from Contract with Customer [Abstract]
Contract assets	$ 95,356	$ 87,491
Contract liabilities	$ 23,081	$ 24,083

Revenue, Receivables and Cont_6

Revenue, Receivables and Contract Assets and Liabilities (Details 4) - USD ($) $ in Millions	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Revenue from Contract with Customer [Abstract]
Revenue recognized related to contract liabilities at March 4, 2018	$ 14.2	$ 9.1
Revenue related to performance obligations satisfied in previous periods due to changes in contract estimates	$ 1.9	$ 2.3

Revenue, Receivables and Cont_7

Revenue, Receivables and Contract Assets and Liabilities (Details 5) $ in Thousands	Jun. 01, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-06-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 394,690
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-06-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	267,140
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-06-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	104,250
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 766,080

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information - Components of inventories (Details) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 02, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 43,921	$ 43,890
Work-in-process	16,535	15,533
Finished goods	16,889	18,921
Total inventories	$ 77,345	$ 78,344

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information - Other current liabilities (Details) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 02, 2019
Inventory Disclosure [Abstract]
Warranties	$ 11,411	$ 12,475
Accrued project losses	32,263	37,085
Lease liability	0	0
Taxes	6,696	8,026
Accrued Insurance, Current	6,658	9,537
Other	28,062	25,573
Total other current liabilities	$ 85,090	$ 92,696

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information - Other non-current liabilities (Details) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 02, 2019
Inventory Disclosure [Abstract]
Deferred benefit from New Market Tax Credit transactions	$ 26,458	$ 26,458
Retirement plan obligations	7,633	7,633
Deferred compensation plan	10,892	10,408
Other	33,729	32,683
Total other non-current liabilities	$ 78,712	$ 77,182

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 02, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 12,121
Estimated Fair Value	12,300
Municipal and Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	12,121	$ 12,481
Gross Unrealized Gains	181	59
Gross Unrealized Losses	2	108
Estimated Fair Value	$ 12,300	$ 12,432

Financial Instruments (Details

Financial Instruments (Details 2) $ in Thousands	Jun. 01, 2019USD ($)
Amortized Cost
Due within one year	$ 600
Due after one year through five years	9,293
Due after five years through 10 years	1,822
Due after 10 years through 15 years	0
Due beyond 15 years	406
Total	12,121
Estimated Fair Value
Due within one year	601
Due after one year through five years	9,429
Due after five years through 10 years	1,863
Due after 10 years through 15 years	0
Due beyond 15 years	407
Total	$ 12,300

Financial Instruments (Detail_2

Financial Instruments (Details 3) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 02, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 2,611	$ 2,015
Municipal and corporate bonds	601	402
Commercial paper	4,500	300
Total cash equivalents	7,111	2,315
Municipal and corporate bonds	11,699	12,030
Total assets at fair value	19,411	14,747
Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	2,611	2,015
Municipal and corporate bonds	0	0
Commercial paper	0	0
Total cash equivalents	2,611	2,015
Municipal and corporate bonds	0	0
Total assets at fair value	2,611	2,015
Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Municipal and corporate bonds	601	402
Commercial paper	4,500	300
Total cash equivalents	4,500	300
Municipal and corporate bonds	11,699	12,030
Total assets at fair value	$ 16,800	$ 12,732

Financial Instruments (Detail_3

Financial Instruments (Details Textual) - Designated as Hedging Instrument - Foreign Exchange Forward $ in Millions	Jun. 01, 2019USD ($)
Derivatives, Fair Value [Line Items]
Dollar notional value	$ 29.8
Net liability	$ 0.7

Goodwill and Other Identifiab_3

Goodwill and Other Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 01, 2019	Mar. 02, 2019
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	$ 185,832	$ 180,956
Goodwill adjustments for purchase accounting		6,267
Foreign currency translation	(595)	(1,391)
Goodwill, Ending	185,237	185,832
Architectural Glass
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	25,709	25,971
Goodwill adjustments for purchase accounting		0
Foreign currency translation	(17)	(262)
Goodwill, Ending	25,692	25,709
Architectural Framing Systems
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	148,446	143,308
Goodwill adjustments for purchase accounting		6,267
Foreign currency translation	(578)	(1,129)
Goodwill, Ending	147,868	148,446
Architectural Services
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	1,120	1,120
Goodwill adjustments for purchase accounting		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 adjustments for purchase accounting		0
Foreign currency translation	0	0
Goodwill, Ending	$ 10,557	$ 10,557

Goodwill and Other Identifiab_4

Goodwill and Other Identifiable Intangible Assets (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Mar. 02, 2019	Jun. 01, 2019
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	$ 164,513	$ 161,085
Accumulated Amortization	(58,271)	(59,821)
Foreign Currency Translation	(3,428)	(1,512)
Net	102,814	99,752
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	(3,141)
Impairment of Intangible Assets (Excluding Goodwill)	(3,141)
Intangible Assets, Gross (Excluding Goodwill)	213,591	206,506
Intangible Assets Accumulated Amortization	(58,271)	(59,821)
Intangible Assets Foreign Currency Translation	(3,944)	(1,777)
Intangible Assets, Net (Excluding Goodwill)	148,235	144,908
Customer relationships
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	122,816	120,238
Accumulated Amortization	(26,637)	(28,094)
Foreign Currency Translation	(2,578)	(1,190)
Net	93,601	90,954
Other intangibles
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	41,697	40,847
Accumulated Amortization	(31,634)	(31,727)
Foreign Currency Translation	(850)	(322)
Net	9,213	8,798
Indefinite-lived Intangible Assets (Excluding Goodwill)	49,078	45,421
Indefinite Lived Identifiable Intangible Assets, Foreign Currency Translation Adjustments	(516)	(265)
Indefinite-lived Intangible Assets (Excluding Goodwill), Net of translation adjustments	$ 45,421	$ 45,156

Goodwill and Other Identifiab_5

Goodwill and Other Identifiable Intangible Assets (Details 2) $ in Thousands	Jun. 01, 2019USD ($)
Schedule of estimated future amortization expense for identifiable intangible assets
Estimated amortization expense, Remainder of Fiscal 2018	$ 5,930
Estimated amortization expense, Fiscal 2019	7,900
Estimated amortization expense, Fiscal 2020	7,797
Estimated amortization expense, Fiscal 2021	7,438
Estimated amortization expense, Fiscal 2022	$ 7,358

Goodwill and Other Identifiab_6

Goodwill and Other Identifiable Intangible Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Goodwill and Other Identifiable Intangible Assets (Textual) [Abstract]
Amortization expense on identifiable intangible assets	$ 1.9	$ 4.8

Debt (Details)

Debt (Details)	3 Months Ended
	Jun. 01, 2019USD ($)	Jun. 02, 2018USD ($)	Jul. 11, 2019USD ($)	Jun. 01, 2019CAD ($)	Jun. 01, 2019USD ($)	Mar. 02, 2019CAD ($)	Mar. 02, 2019USD ($)
Line of Credit Facility [Line Items]
Interest payments	$ 2,400,000	$ 1,800,000
Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 12,000,000	$ 335,000,000
Outstanding borrowings					272,500,000	$ 0	$ 225,000,000
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					25,100,000
Canada | Industrial Revenue Bonds
Line of Credit Facility [Line Items]
Debt					$ 400,000
Subsequent Event
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 150,000,000
Subsequent Event | Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 235,000,000

Commitments and Contingent Li_3

Commitments and Contingent Liabilities (Details) $ in Thousands	Mar. 02, 2019USD ($)
Future minimum rental payments under noncancelable operating leases
Total minimum payments, Remainder of Fiscal 2018	$ 14,888
Total minimum payments, Fiscal 2019	11,787
Total minimum payments, Fiscal 2020	9,669
Total minimum payments, Fiscal 2021	8,772
Total minimum payments, Fiscal 2022	6,735
Total minimum payments, Thereafter	16,806
Total	$ 68,657

Commitments and Contingent Li_4

Commitments and Contingent Liabilities (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Guarantees and warranties
Balance at beginning of period	$ 16,737	$ 22,517
Additional accruals	1,787	1,062
Claims paid	(2,771)	(1,193)
Balance at end of period	$ 15,753	$ 22,386

Commitments and Contingent Li_5

Commitments and Contingent Liabilities (Details 2)	3 Months Ended
	Jun. 01, 2019USD ($)
Income Tax Contingency [Line Items]
Proceeds received	$ 26,500
Deferred costs	5,600
Net benefit	20,900
October 2020
Income Tax Contingency [Line Items]
Proceeds received	10,700
Deferred costs	3,000
Net benefit	7,700
May 2023
Income Tax Contingency [Line Items]
Proceeds received	6,000
Deferred costs	900
Net benefit	5,100
July 2025
Income Tax Contingency [Line Items]
Proceeds received	6,600
Deferred costs	900
Net benefit	5,700
August 2025
Income Tax Contingency [Line Items]
Proceeds received	3,200
Deferred costs	800
Net benefit	$ 2,400

Commitments and Contingent Li_6

Commitments and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 02, 2019
Commitments and Contingencies Disclosure [Abstract]
Company's backlog bonded by performance bonds	$ 306,300
Face value of performance bonds	638,900
Line of Credit Facility [Line Items]
Project related liability	38,000	$ 42,800
Other non-current liabilities	78,712	77,182
Other assets	45,003	$ 46,380
Purchase obligations	132,700
Industrial Revenue Bonds
Line of Credit Facility [Line Items]
Debt	20,400
Letter of credit | Industrial Revenue Bonds
Line of Credit Facility [Line Items]
Debt	$ 25,100

Share-Based Compensation (Detai

Share-Based Compensation (Details 1) - USD ($)	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Award transactions on stock options
Outstanding, Beginning	100,341
Outstanding shares awards exercised		(19,000)
Outstanding, Ending	100,341
Award transactions on stock options, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price, Beginning	$ 8.34
Weighted average exercise price, Awards exercised	0
Weighted average exercise price, Ending	$ 8.34
Weighted average remaining contractual life, Outstanding	2 years 3 months
Aggregate intrinsic value, Outstanding	$ 2,800,517
Deferred Compensation, Share-based Payments [Member]
Award transactions on stock options
Outstanding shares awards exercised	0

Share-Based Compensation (Det_2

Share-Based Compensation (Details 2)	3 Months Ended
	Jun. 01, 2019$ / sharesshares
Nonvested share award transactions
Nonvested Number, Beginning | shares	286,613
Number of shares, Granted | shares	80,571
Number of shares, Vested | shares	(73,771)
Number of shares, Canceled | shares	(1,500)
Nonvested Number, Ending | shares	291,913
Nonvested share award transactions, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, Beginning | $ / shares	$ 47
Weighted average grant date fair value, Granted | $ / shares	39.50
Weighted average grant date fair value, Vested | $ / shares	45.09
Weighted average grant date fair value, Canceled | $ / shares	47.35
Weighted average grant date fair value, Ending | $ / shares	$ 45.41

Share-Based Compensation (Det_3

Share-Based Compensation (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 1,618	$ 1,514
Cash proceeds from exercise of stock options		200
Aggregate intrinsic value of securities		$ 600
Total unrecognized compensation cost related to nonvested share	$ 8,200
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period, Nonvested	24 months
Total fair value of shares vested	$ 3,000

Employee Benefit Plans (Details

Employee Benefit Plans (Details) $ in Thousands	3 Months Ended
	Jun. 01, 2019USD ($)plan	Jun. 02, 2018USD ($)
Retirement Benefits [Abstract]
Number of defined-benefit pension plans | plan	2
Components of net periodic benefit cost
Interest cost	$ 123	$ 127
Expected return on assets	(46)	(10)
Amortization of unrecognized net loss	55	57
Net periodic benefit cost	$ 132	$ 174

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	Jun. 01, 2019	Mar. 02, 2019
Income Tax Disclosure [Abstract]
Liability for uncertain tax positions, current and noncurrent	$ 5.3	$ 5.1
Liability for unrecognized tax benefit, expected decrease	$ 0.5

Earnings per Share (Details)

Earnings per Share (Details) - shares shares in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Reconciliation of basic and diluted earnings per share
Basic earnings per share – weighted average common shares outstanding	26,597	28,189
Weighted average effect of nonvested share grants and assumed exercise of stock options	246	248
Diluted earnings per share – weighted average common shares and potential common shares outstanding	26,843	28,437
Stock awards excluded from the calculation of earnings per share because the effect was anti-dilutive (award price greater than average market price of the shares)	104	147

Segment Information Segment Inf

Segment Information Segment Information (Details Textual)	3 Months Ended
	Jun. 01, 2019SegmentReportable_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
	Jun. 01, 2019	Jun. 02, 2018
Sales and operating income data
Net sales	$ 355,365	$ 336,531
Operating income (loss)	23,041	21,995
Architectural Glass
Sales and operating income data
Net sales	100,291	76,925
Operating income (loss)	6,399	1,579
Architectural Services
Sales and operating income data
Net sales	65,147	70,727
Operating income (loss)	4,573	5,155
Architectural Framing Systems
Sales and operating income data
Net sales	180,522	179,037
Operating income (loss)	12,273	12,339
Large-Scale Optical
Sales and operating income data
Net sales	21,259	20,761
Operating income (loss)	4,177	4,981
Intersegment eliminations
Sales and operating income data
Net sales	(11,854)	(10,919)
Corporate and other
Sales and operating income data
Operating income (loss)	$ (4,381)	$ (2,059)

Leases (Details)

Leases (Details) $ in Thousands	3 Months Ended
	Jun. 01, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 3,373
Short-term lease cost	682
Variable lease cost	713
Total lease cost	$ 4,768

Leases (Details 1)

Leases (Details 1) $ in Thousands	3 Months Ended
	Jun. 01, 2019USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 3,300
Lease assets obtained in exchange for new operating lease liabilities	$ 706
Weighted-average remaining lease term - operating leases	5 years 6 months
Weighted-average discount rate - operating leases	3.74%

Leases (Details 2)

Leases (Details 2) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 03, 2019
Leases [Abstract]
Remainder of Fiscal 2020	$ 9,782
Fiscal 2021	10,346
Fiscal 2022	8,716
Fiscal 2023	7,920
Fiscal 2024	6,007
Fiscal 2025	4,298
Thereafter	6,369
Total lease payments	53,438
Less: Amounts representing interest	(5,514)
Present value of lease liabilities	$ 47,924	$ 50,000

Leases (Details 3)

Leases (Details 3) $ in Thousands	3 Months Ended
	Jun. 01, 2019USD ($)
Lessee, Lease, Description [Line Items]
Lease cost	$ 4,768
Lease payments	53,438
Operating lease liabilities, leases not yet commenced	$ 15,500
Minimum
Lessee, Lease, Description [Line Items]
Lease term, leases not yet commenced	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term, leases not yet commenced	10 years
Related party
Lessee, Lease, Description [Line Items]
Lease cost	$ 500
Lease payments	$ 12,500

Leases (Details 4)

Leases (Details 4) $ in Thousands	Mar. 02, 2019USD ($)
Leases [Abstract]
2020	$ 14,888
2021	11,787
2022	9,669
2023	8,772
2024	6,735
Thereafter	16,806
Total	$ 68,657