Apogee Enterprises (APOG) 10-Q 29 Dec 22 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Nov. 26, 2022	Dec. 26, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 26, 2022
Document Transition Report	false
Entity File Number	0-6365
Entity Registrant Name	APOGEE ENTERPRISES, INC.
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0919654
Entity Address, Address Line One	4400 West 78th Street, Suite 520
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55435
City Area Code	952
Local Phone Number	835-1874
Title of 12(b) Security	Common stock, par value $0.33 1/3 per share
Trading Symbol	APOG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		22,213,890
Entity Central Index Key	0000006845
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--02-25

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Nov. 26, 2022	Feb. 26, 2022
Current assets
Cash and cash equivalents	$ 21,746	$ 37,583
Restricted cash	3,718	0
Receivables, net	222,554	168,592
Inventories	86,032	80,494
Costs and earnings on contracts in excess of billings	32,964	30,403
Other current assets	29,676	20,820
Total current assets	396,690	337,892
Property, plant and equipment, net	231,173	249,995
Operating lease right-of-use assets	44,198	47,912
Goodwill	129,268	130,102
Intangible assets	68,825	72,481
Other non-current assets	48,292	49,481
Total assets	918,446	887,863
Current liabilities
Accounts payable	70,137	92,104
Accrued payroll and related benefits	55,528	50,977
Billings in excess of costs and earnings on uncompleted contracts	29,121	8,659
Operating lease liabilities	11,077	12,744
Current portion long-term debt	0	1,000
Other current liabilities	66,174	67,462
Total current liabilities	232,037	232,946
Long-term debt	203,735	162,000
Non-current operating lease liabilities	36,778	39,591
Non-current self-insurance reserves	21,062	22,544
Other non-current liabilities	47,196	44,583
Shareholders' equity
Common stock of $0.33-1/3 par value; authorized 50,000,000 shares; issued and outstanding 22,213,635 and 23,701,491 respectively	7,405	7,901
Additional paid-in capital	144,358	149,713
Retained earnings	258,836	254,825
Accumulated other comprehensive loss	(32,961)	(26,240)
Total shareholders’ equity	377,638	386,199
Total liabilities and shareholders’ equity	$ 918,446	$ 887,863
Common Stock, Par or Stated Value Per Share	$ 0.33	$ 0.33
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	22,213,635	23,701,491
Common Stock, Shares, Outstanding	22,213,635	23,701,491

Consolidated Results of Operati

Consolidated Results of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Nov. 26, 2022	Nov. 27, 2021
Income Statement [Abstract]
Net sales	$ 367,847	$ 334,217	$ 1,096,591	$ 986,020
Cost of sales	281,239	269,537	839,430	805,627
Gross profit	86,608	64,680	257,161	180,393
Selling, general and administrative expenses	51,847	46,970	157,112	149,709
Operating income	34,761	17,710	100,049	30,684
Interest expense, net	2,590	528	5,494	2,838
Other expense, net	552	3,057	2,035	3,266
Earnings before income taxes	31,619	14,125	92,520	24,580
Income tax expense	7,854	3,068	8,635	4,821
Net earnings	$ 23,765	$ 11,057	$ 83,885	$ 19,759
Earnings per share - basic
Earnings per share - basic	$ 1.09	$ 0.44	$ 3.81	$ 0.79
Earnings per share - diluted
Earnings per share - diluted	$ 1.07	$ 0.44	$ 3.74	$ 0.78
Weighted average basic shares outstanding	21,870	24,957	22,043	25,166
Weighted average diluted shares outstanding	22,278	25,309	22,456	25,459

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Nov. 26, 2022	Nov. 27, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 23,765	$ 11,057	$ 83,885	$ 19,759
Other comprehensive (losses) earnings:
Unrealized loss on marketable securities, net of $(24), $(40), $(127) and $(39) of tax benefit, respectively	(88)	(151)	(470)	(147)
Unrealized gain (loss) on derivative instruments, net of $277, $(265), $(1,192) and $(257) of tax expense (benefit), respectively	905	(868)	(3,911)	(842)
Foreign currency translation adjustments	(1,295)	(2,515)	(2,340)	(935)
Other comprehensive losses	(478)	(3,534)	(6,721)	(1,924)
Total comprehensive earnings	23,287	7,523	77,164	17,835
Supplemental Income Statement Elements [Abstract]
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, Tax	(24)	(40)	(127)	(39)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	$ 277	$ (265)	$ (1,192)	$ (257)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Operating Activities
Net earnings	$ 83,885	$ 19,759
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	31,925	38,353
Share-based compensation	5,961	4,807
Deferred income taxes	2,341	(5,412)
Asset impairment	0	16,638
Gain on disposal of assets	(1,484)	(1,250)
Proceeds from New Markets Tax Credit transaction, net of deferred costs	18,390	0
Settlement of New Markets Tax Credit transaction	(19,523)	0
Noncash lease expense	8,924	9,302
Other, net	4,700	3,009
Changes in operating assets and liabilities:
Receivables	(58,202)	6,443
Inventories	(5,822)	(2,657)
Costs and earnings on contracts in excess of billings	(2,599)	1,168
Accounts payable and accrued expenses	(11,985)	5,440
Billings in excess of costs and earnings on uncompleted contracts	20,884	(4,474)
Refundable and accrued income taxes	(14,391)	5,255
Operating lease liability	(9,168)	(9,387)
Other, net	(2,724)	(703)
Net cash provided by operating activities	51,112	86,291
Investing Activities
Capital expenditures	(18,119)	(13,070)
Proceeds from sales of property, plant and equipment	5,212	1,347
Other, net	923	76
Net cash used by investing activities	(11,984)	(11,647)
Financing Activities
Borrowings on line of credit	430,879	0
Repayment on debt	(151,000)	(2,000)
Payments on line of credit	(239,000)	0
Payments on debt issue costs	(790)	0
Proceeds from exercise of stock options	0	4,115
Repurchase and retirement of common stock	(74,312)	(29,164)
Dividends paid	(14,415)	(15,050)
Other, net	(2,959)	(1,895)
Net cash used by financing activities	(51,597)	(43,994)
(Decrease) increase in cash, cash equivalents and restricted cash	(12,469)	30,650
Effect of exchange rates on cash	350	345
Cash, cash equivalents and restricted cash at beginning of year	37,583	47,277
Cash, cash equivalents and restricted cash at end of period	25,464	78,272
Noncash Activity
Capital expenditures in accounts payable	$ 1,557	$ 1,095

Consolidated Statement of Share

Consolidated Statement of Shareholders Equity (unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balance (in shares) at Feb. 27, 2021	25,714,000
Beginning balance at Feb. 27, 2021	$ 492,745	$ 8,571	$ 154,958	$ 357,243	$ (28,027)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	10,817			10,817
Unrealized gain (loss) on marketable securities, net of tax expense (benefit)	0				0
Tax expense (benefit) on marketable securities	0
Unrealized gain (loss) on derivatives, net of tax expense (benefit)	692				692
Tax expense (benefit) on derivatives	211
Foreign currency translation adjustments	$ 5,880				5,880
Issuance of stock, net of cancellations (Shares)	90,000
Issuance of stock, net of cancellations	$ (23)	(30)	(7)
Share-based compensation	$ 1,674		1,674
Exercise of stock options (shares)	179,000
Exercise of stock options	$ (4,115)	(60)	(4,055)
Share repurchases, Shares	(357,000)
Share repurchases	$ (12,625)	(119)	(2,218)	(10,288)
Other share retirements, Shares	(20,000)
Other share retirements	$ (735)	(7)	(121)	(607)
Cash dividends	$ (5,035)			(5,035)
Ending balance (in shares) at May. 29, 2021	25,606,000
Ending balance at May. 29, 2021	$ 497,551	8,535	158,341	352,130	(21,455)
Beginning balance (in shares) at Feb. 27, 2021	25,714,000
Beginning balance at Feb. 27, 2021	$ 492,745	8,571	154,958	357,243	(28,027)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	19,759
Tax expense (benefit) on marketable securities	(39)
Tax expense (benefit) on derivatives	$ (257)
Ending balance (in shares) at Nov. 27, 2021	25,227,000
Ending balance at Nov. 27, 2021	$ 473,853	8,409	158,579	336,816	(29,951)
Beginning balance (in shares) at May. 29, 2021	25,606,000
Beginning balance at May. 29, 2021	$ 497,551	8,535	158,341	352,130	(21,455)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	(2,116)			(2,116)
Unrealized gain (loss) on marketable securities, net of tax expense (benefit)	4				4
Tax expense (benefit) on marketable securities	2
Unrealized gain (loss) on derivatives, net of tax expense (benefit)	(666)				(666)
Tax expense (benefit) on derivatives	(203)
Foreign currency translation adjustments	$ (4,300)				(4,300)
Issuance of stock, net of cancellations (Shares)	67,000
Issuance of stock, net of cancellations	$ (22)	(22)
Share-based compensation	$ 1,587		1,587
Share repurchases, Shares	(249,000)
Share repurchases	$ (9,794)	(83)	(1,616)	(8,095)
Other share retirements, Shares	(30,000)
Other share retirements	$ (702)	(9)	(197)	(496)
Cash dividends	$ (5,025)			(5,025)
Ending balance (in shares) at Aug. 28, 2021	25,394,000
Ending balance at Aug. 28, 2021	$ 476,561	8,465	158,115	336,398	(26,417)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	11,057			11,057
Unrealized gain (loss) on marketable securities, net of tax expense (benefit)	(151)				(151)
Tax expense (benefit) on marketable securities	(40)
Unrealized gain (loss) on derivatives, net of tax expense (benefit)	(868)				(868)
Tax expense (benefit) on derivatives	(265)
Foreign currency translation adjustments	$ (2,515)				(2,515)
Issuance of stock, net of cancellations (Shares)	1,000
Issuance of stock, net of cancellations	$ (22)		(22)
Share-based compensation	$ 1,546		1,546
Share repurchases, Shares	(166,000)
Share repurchases	$ (6,745)	(55)	(1,092)	(5,598)
Other share retirements, Shares	(2,000)
Other share retirements	$ (64)	(1)	(12)	(51)
Cash dividends	$ (4,990)			(4,990)
Ending balance (in shares) at Nov. 27, 2021	25,227,000
Ending balance at Nov. 27, 2021	$ 473,853	8,409	158,579	336,816	(29,951)
Beginning balance (in shares) at Feb. 26, 2022	23,701,000
Beginning balance at Feb. 26, 2022	$ 386,199	7,901	149,713	254,825	(26,240)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	22,731			22,731
Unrealized gain (loss) on marketable securities, net of tax expense (benefit)	(276)				(276)
Tax expense (benefit) on marketable securities	(74)
Unrealized gain (loss) on derivatives, net of tax expense (benefit)	(4,316)				(4,316)
Tax expense (benefit) on derivatives	(1,317)
Foreign currency translation adjustments	$ 1,732				1,732
Issuance of stock, net of cancellations (Shares)	100,000
Issuance of stock, net of cancellations	$ (56)	(33)	(23)
Share-based compensation	$ 1,597		1,597
Share repurchases, Shares	(1,571,000)
Share repurchases	$ (74,312)	(524)	(10,350)	(63,438)
Other share retirements, Shares	(30,000)
Other share retirements	$ (1,328)	(10)	(198)	(1,120)
Cash dividends	$ (4,793)			(4,793)
Ending balance (in shares) at May. 28, 2022	22,200,000
Ending balance at May. 28, 2022	$ 327,290	7,400	140,785	208,205	(29,100)
Beginning balance (in shares) at Feb. 26, 2022	23,701,000
Beginning balance at Feb. 26, 2022	$ 386,199	7,901	149,713	254,825	(26,240)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	83,885
Tax expense (benefit) on marketable securities	(127)
Tax expense (benefit) on derivatives	$ (1,192)
Exercise of stock options (shares)	145,060
Ending balance (in shares) at Nov. 26, 2022	22,214,000
Ending balance at Nov. 26, 2022	$ 377,638	7,405	144,358	258,836	(32,961)
Beginning balance (in shares) at May. 28, 2022	22,200,000
Beginning balance at May. 28, 2022	$ 327,290	7,400	140,785	208,205	(29,100)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	37,389			37,389
Unrealized gain (loss) on marketable securities, net of tax expense (benefit)	(106)				(106)
Tax expense (benefit) on marketable securities	(28)
Unrealized gain (loss) on derivatives, net of tax expense (benefit)	(500)				(500)
Tax expense (benefit) on derivatives	(152)
Foreign currency translation adjustments	$ (2,777)				(2,777)
Issuance of stock, net of cancellations (Shares)	14,000
Issuance of stock, net of cancellations	$ (56)	(5)	(61)
Share-based compensation	$ 1,797		1,797
Exercise of stock options (shares)	36,000
Exercise of stock options	$ (942)	(12)	(954)
Other share retirements, Shares	(13,000)
Other share retirements	$ (658)	(4)	(114)	(540)
Cash dividends	$ (4,809)			(4,809)
Ending balance (in shares) at Aug. 27, 2022	22,209,000
Ending balance at Aug. 27, 2022	$ 356,740	7,403	141,575	240,245	(32,483)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	23,765			23,765
Unrealized gain (loss) on marketable securities, net of tax expense (benefit)	(88)				(88)
Tax expense (benefit) on marketable securities	(24)
Unrealized gain (loss) on derivatives, net of tax expense (benefit)	905				905
Tax expense (benefit) on derivatives	277
Foreign currency translation adjustments	$ (1,295)				(1,295)
Issuance of stock, net of cancellations (Shares)	9,000
Issuance of stock, net of cancellations	$ (57)	(3)	(250)	(196)
Share-based compensation	$ 2,567		2,567
Other share retirements, Shares	(4,000)
Other share retirements	$ (200)	(1)	(34)	(165)
Cash dividends	$ (4,813)			(4,813)
Ending balance (in shares) at Nov. 26, 2022	22,214,000
Ending balance at Nov. 26, 2022	$ 377,638	$ 7,405	$ 144,358	$ 258,836	$ (32,961)

Income Taxes

Income Taxes	9 Months Ended
	Nov. 26, 2022
Statement of Financial Position [Abstract]
Income Taxes	Income Taxes The Company files income tax returns in the U.S. federal jurisdiction, various U.S. state and local jurisdictions, Canada, Brazil and other international jurisdictions. The Company is no longer subject to U.S. federal tax examinations for years prior to fiscal 2019, 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 2018, and there is very limited audit activity of the Company’s income tax returns in U.S. state jurisdictions or international jurisdictions. In the second quarter of fiscal 2023, the Company claimed certain tax deductions, including a worthless stock loss deduction, related to its investment in Sotawall Limited, a Canadian subsidiary. These deductions generated a net tax benefit of $13.7 million.

Income Taxes (Textual)

Income Taxes (Textual) - USD ($) $ in Millions	6 Months Ended
	Aug. 27, 2022	Nov. 26, 2022	Feb. 26, 2022
Income Tax Uncertainties [Abstract]
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		$ 5.5	$ 3.3
Worthless Stock Loss Deduction	$ (13.7)

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Nov. 26, 2022
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 February 26, 2022. We use the same accounting policies in preparing quarterly and annual financial statements. All adjustments necessary for a fair presentation of quarterly and year to date operating results are reflected herein and are of a normal, recurring nature. The results of operations for the three- and nine-month periods ended November 26, 2022 are not necessarily indicative of the results to be expected for the full year. At the beginning of the first quarter of fiscal 2023, we began management of the Sotawall and Harmon businesses under the Architectural Services segment in order to create a single, unified offering for larger custom curtainwall projects. The comparative fiscal 2022 segment results for the Architectural Framing Systems and Architectural Services segments have been recast to reflect the move of the Sotawall business into the Architectural Services segment from the Architectural Framing Systems segment, effective at the start of the first quarter of fiscal 2023.

Revenue, Receivables and Contra

Revenue, Receivables and Contract Assets and Liabilities	9 Months Ended
	Nov. 26, 2022
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 12 for disclosure of revenue by segment): Three Months Ended Nine Months Ended (In thousands) November 26, 2022 November 27, 2021 November 26, 2022 November 27, 2021 Recognized at shipment $ 168,593 $ 141,826 $ 504,450 $ 419,893 Recognized over time 199,254 192,391 592,141 566,127 Total $ 367,847 $ 334,217 $ 1,096,591 $ 986,020 Receivables Receivables reflected in the financial statements represent the net amount expected to be collected. An allowance for credit losses is established based on expected losses. Expected losses are estimated by reviewing individual accounts, considering aging, financial condition of the debtor, recent payment history, current and forecast economic conditions and other relevant factors. Upon billing, aging of receivables is monitored until collection. An account is considered current when it is within agreed upon payment terms. An account is written off when it is determined that the asset is no longer collectible. 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 to us from the customer. (In thousands) November 26, 2022 February 26, 2022 Trade accounts $ 142,591 $ 129,085 Construction contracts 50,423 12,857 Contract retainage 31,395 28,782 Total receivables 224,409 170,724 Less: allowance for credit losses 1,855 2,132 Receivables, net $ 222,554 $ 168,592 The following table summarizes the activity in the allowance for credit losses: (In thousands) November 26, 2022 February 26, 2022 Beginning balance $ 2,132 $ 1,947 Additions charged to costs and expenses 20 729 Deductions from allowance, net of recoveries (279) (514) Other changes (1) (18) (30) Ending balance $ 1,855 $ 2,132 (1) Result of foreign currency effects 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 at which point amounts are released to us from the customer. (In thousands) November 26, 2022 February 26, 2022 Contract assets $ 64,359 $ 59,185 Contract liabilities 31,657 11,373 The changes in contract assets and contract liabilities were mainly due to timing of project activity within our businesses that operate under long-term contracts. Other contract-related disclosures Three Months Ended Nine Months Ended (In thousands) November 26, 2022 November 27, 2021 November 26, 2022 November 27, 2021 Revenue recognized related to contract liabilities from prior year-end $ 3,473 $ 1,687 $ 36,630 $ 18,266 Revenue recognized related to prior satisfaction of performance obligations 4,640 5,051 9,586 12,568 Some of our contracts have an expected duration of longer than a year, with performance obligations extending over that time frame. Generally, these contracts are found in our businesses that typically operate with long-term contracts, which recognize revenue over time. The transaction prices associated with unsatisfied performance obligations at November 26, 2022 are expected to be satisfied, and the corresponding revenue to be recognized, over the following estimated time periods: (In thousands) November 26, 2022 Within one year $ 493,289 Within two years 280,427 Beyond two years 87,660 Total $ 861,376

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	9 Months Ended
	Nov. 26, 2022
Inventory Disclosure [Abstract]
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information Inventories (In thousands) November 26, 2022 February 26, 2022 Raw materials $ 43,722 $ 42,541 Work-in-process 17,081 18,144 Finished goods 25,229 19,809 Total inventories $ 86,032 $ 80,494 Other current liabilities (In thousands) November 26, 2022 February 26, 2022 Warranties $ 14,137 $ 11,786 Income and other taxes 5,832 15,770 Accrued self-insurance reserves 15,888 8,796 Accrued freight 1,917 2,078 Deferred revenue 2,536 2,714 Other 25,864 26,318 Total other current liabilities $ 66,174 $ 67,462 Other non-current liabilities (In thousands) November 26, 2022 February 26, 2022 Deferred benefit from New Markets Tax Credit transactions $ 9,250 $ 9,165 Retirement plan obligations 6,269 7,041 Deferred compensation plan 6,851 9,483 Deferred tax liabilities 3,793 2,296 Other 21,033 16,598 Total other non-current liabilities $ 47,196 $ 44,583

Financial Instruments

Financial Instruments	9 Months Ended
	Nov. 26, 2022
Marketable Securities [Abstract]
Financial Instruments	Financial Instruments Marketable securities Through our wholly-owned insurance subsidiary, Prism Assurance, Ltd. (Prism), 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 November 26, 2022 $ 10,835 $ — $ 675 $ 10,160 February 26, 2022 11,862 45 123 11,784 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 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 November 26, 2022, 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 $ 1,739 $ 1,720 Due after one year through five years 9,096 8,440 Total $ 10,835 $ 10,160 Derivative instruments We use interest rate swaps, foreign exchange forward contracts, commodity swaps and forward purchase contracts to manage risks generally associated with foreign exchange rate, interest rate and commodity price fluctuations. The information that follows explains the various types of derivatives and financial instruments we use, how such instruments are accounted for, and how such instruments impact our financial position and performance. In fiscal 2020, we entered into an interest rate swap to hedge exposure to variability in cash flows from interest payments on our floating-rate revolving credit facility and term loan. As of November 26, 2022, the interest rate swap contract had a notional value of $30.0 million. We periodically enter into forward purchase contracts and/or fixed/floating swaps to manage the risk associated with fluctuations in aluminum prices and fluctuations in foreign exchange rates (primarily related to the Canadian dollar). These contracts generally have an original maturity date of less than one year. As of November 26, 2022, we held foreign exchange forward contracts and aluminum fixed/floating swaps with U.S. dollar notional values of $3.0 million and $8.1 million, respectively. These derivative instruments are recorded within our consolidated balance sheets within other current assets and liabilities. Gains or losses associated with these instruments are recorded as a component of accumulated other comprehensive income. 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 Other Observable Inputs (Level 2) Total Fair Value November 26, 2022 Assets: Money market funds $ 6,629 $ — $ 6,629 Municipal and corporate bonds — 10,160 10,160 Cash surrender value of life insurance — 16,247 16,247 Interest rate swap contract — 1,917 1,917 Liabilities: Deferred compensation — 9,277 9,277 Foreign currency forward/option contract — 192 192 Aluminum hedging contract — 2,382 2,382 February 26, 2022 Assets: Money market funds $ 19,288 $ — $ 19,288 Municipal and corporate bonds — 11,784 11,784 Cash surrender value of life insurance — 17,831 17,831 Aluminum hedging contract — 2,133 2,133 Interest rate swap contract — 718 718 Liabilities: Deferred compensation — 12,491 12,491 Foreign currency forward/option contract — 161 161 Money market funds and commercial paper 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. These assets are included within cash and cash equivalents on our consolidated balance sheets. Municipal and corporate bonds Municipal and corporate bonds were measured at fair value based on market prices from recent trades of similar securities and are classified within our consolidated balance sheets as other current or other non-current assets based on maturity date. Cash surrender value of life insurance and deferred compensation Contracts insuring the lives of certain employees who are eligible to participate in certain non-qualified pension and deferred compensation plans are held in trust. Cash surrender value of the contracts is based on performance measurement funds that shadow the deferral investment allocations made by participants in certain deferred compensation plans. Changes in cash surrender value are recorded in other expense. The deferred compensation liability balances are valued based on amounts allocated by participants to the underlying performance measurement funds. Derivative instruments The interest rate swap is measured at fair value using other observable market inputs, based off of benchmark interest rates. Forward foreign exchange and fixed/floating aluminum contracts are measured at fair value using other observable market inputs, such as quotations on forward foreign exchange points, foreign currency exchange rates, and forward purchase aluminum prices. Derivative positions are primarily valued using standard calculations and models that use as their basis readily observable market parameters. Industry standard data providers are our primary source for forward and spot rate information for both interest and currency rates and aluminum prices. Nonrecurring fair value measurements We measure certain financial instruments at fair value on a nonrecurring basis including goodwill, intangible assets, property and equipment and right-of-use lease assets. These assets were initially measured and recognized at amounts equal to the fair value determined as of the date of acquisition or purchase subject to changes in value only for foreign currency translation. Periodically, these assets are tested for impairment, by comparing their respective carrying values to the estimated fair value of the reporting unit or asset group in which they reside. In the event any of these assets were to become impaired, we would recognize an impairment expense equal to the amount by which the carrying value of the reporting unit, impaired asset or asset group exceeds its estimated fair value. Fair value measurements of reporting units are estimated using an income approach involving discounted cash flow models that contain certain Level 3 inputs requiring significant management judgment, including projections of economic conditions, customer demand and changes in competition, revenue growth rates, gross profit margins, operating margins, capital expenditures, working capital requirements, terminal growth rates and discount rates. Fair value measurements of the reporting units associated with our goodwill balances and our indefinite-lived intangible assets are estimated at least annually in the fourth quarter of each fiscal year for purposes of impairment testing if a quantitative analysis is performed.

Goodwill and Other Identifiable

Goodwill and Other Identifiable Intangible Assets	9 Months Ended
	Nov. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Identifiable Intangible Assets	Goodwill and Other Intangible Assets Goodwill Goodwill represents the excess of the cost over the value of net tangible and identified intangible assets of acquired businesses. We evaluate goodwill for impairment annually as of the first day of our fiscal fourth quarter, or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable. At the beginning of the first quarter of fiscal 2023, we began management of the Sotawall and Harmon businesses under the Architectural Services segment in order to create a single, unified offering for larger custom curtainwall projects, which resulted in the combination of the Sotawall and Harmon reporting units into a single reporting unit. We evaluated goodwill on a qualitative basis prior to and subsequent to this change for these reporting units and concluded that no adjustment to the carrying value of goodwill was necessary. Concurrent with the move of Sotawall from the Architectural Framing Systems segment to the Architectural Services segment effective at the start of our first quarter of fiscal 2023, goodwill was reallocated to the affected reporting units within each segment, using a relative fair value approach as outlined in ASC 350, Intangibles - Goodwill and Other . In addition, for all reporting units, no qualitative indicators of impairment were identified during the first quarter of fiscal 2023, and therefore, no interim quantitative goodwill impairment evaluation was performed. The following table presents the carrying amount of goodwill attributable to each reporting segment including the amount of goodwill that was reallocated from the Architectural Framing Systems segment to the Architectural Services segment using the relative fair value approach during the first quarter of fiscal 2023: (In thousands) Architectural Framing Systems Architectural Services Architectural Glass Large-Scale Total Balance at February 27, 2021 $ 93,099 $ 1,120 $ 25,322 $ 10,557 $ 130,098 Foreign currency translation 82 — (78) — 4 Balance at February 26, 2022 93,181 1,120 25,244 10,557 130,102 Reallocation among reporting units (1) (2,048) 2,048 — — — Foreign currency translation (763) (105) 34 — (834) Balance at November 26, 2022 $ 90,370 $ 3,063 $ 25,278 $ 10,557 $ 129,268 (1) Represents the reallocation of goodwill as a result of transitioning Sotawall from the Architectural Framing Systems segment to the Architectural Services segment as of the start of the first quarter of fiscal 2023. Other intangible assets Indefinite-lived intangible assets We have intangible assets for certain acquired trade names and trademarks which are determined to have indefinite useful lives. We test indefinite-lived intangible assets for impairment annually at the same measurement date as goodwill, the first day of our fiscal fourth quarter, or more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. Based on the impairment analysis performed in the fourth quarter of fiscal 2022, the fair value of each of our trade names and trademarks exceeded the carrying amount. However, due to triggering events identified in the fourth quarter of fiscal 2022, resulting from the finalization of our plans for integrating the Sotawall business into the Architectural Services segment, beginning in fiscal 2023, we determined that the carrying value of the Sotawall trade name exceeded fair value by $12.7 million. We determined that Sotawall had an immaterial fair value, resulting in the trade name being fully impaired as of fiscal 2022 year-end. We recognized this amount as impairment expense in the fourth quarter ended February 26, 2022. Finite-lived intangible assets Long-lived assets or asset groups, including intangible assets subject to amortization and property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of those assets may not be recoverable. We use undiscounted cash flows to determine whether impairment exists and measure any impairment loss using discounted cash flows to determine the fair value of long-lived assets. Due to triggering events identified during the fourth quarter of fiscal 2022, as a result of finalization of our plans for integrating the Sotawall business into the Architectural Services segment, beginning in fiscal 2023, we determined that the finite-lived intangible assets of Sotawall were impaired as of February 26, 2022. As such, we recognized a long-lived asset impairment charge of $36.7 million in finite-lived intangible assets in the fourth quarter of fiscal year 2022, within the Architectural Framing Systems segment. The gross carrying amount of other intangible assets and related accumulated amortization was: (In thousands) Gross Accumulated Impairment Expense Foreign Net November 26, 2022 Definite-lived intangible assets: Customer relationships $ 89,495 $ (48,843) $ — $ (2,077) $ 38,575 Other intangibles 39,449 (35,300) — (815) 3,334 Total 128,944 (84,143) — (2,892) 41,909 Indefinite-lived intangible assets: Trademarks 27,129 — — (213) 26,916 Total intangible assets $ 156,073 $ (84,143) $ — $ (3,105) $ 68,825 February 26, 2022 Definite-lived intangible assets: Customer relationships $ 122,961 $ (47,226) $ (33,608) $ 141 $ 42,268 Other intangibles 41,838 (35,613) (3,127) (14) 3,084 Total 164,799 (82,839) (36,735) 127 45,352 Indefinite-lived intangible assets: Trademarks 39,832 — (12,738) 35 27,129 Total intangible assets $ 204,631 $ (82,839) $ (49,473) $ 162 $ 72,481 Amortization expense on definite-lived intangible assets was $3.1 million and $5.9 million for the nine-month periods ended November 26, 2022 and November 27, 2021, respectively. Amortization expense of other identifiable intangible assets is included in selling, general and administrative expenses. At November 26, 2022, the estimated future amortization expense for definite-lived intangible assets was: (In thousands) Remainder of 2023 2024 2025 2026 2027 Estimated amortization expense $ 1,136 $ 4,393 $ 4,363 $ 4,346 $ 4,292

Debt

Debt	9 Months Ended
	Nov. 26, 2022
Debt Disclosure [Abstract]
Debt	Debt During the second quarter ended August 27, 2022, we amended and extended our committed revolving credit facility to include maximum borrowings of up to $385 million with a maturity of August 2027. As part of the amendment, we repaid the $150 million term loan with borrowings under the revolving credit facility. As of November 26, 2022, outstanding borrowings under our revolving credit facility were $188.0 million, while there were no outstanding borrowings under the revolving credit facility as of February 26, 2022. Our revolving credit facility contains two maintenance financial covenants that require us to stay below a maximum debt-to-EBITDA ratio and maintain a minimum ratio of EBITDA-to-interest expense. Both ratios are computed quarterly, with EBITDA calculated on a rolling four-quarter basis. At November 26, 2022, we were in compliance with both financial covenants. Additionally, at November 26, 2022, we had a total of $12.3 million of ongoing letters of credit related to industrial revenue bonds, construction contracts and insurance collateral that expire in fiscal years 2024 to 2032 and reduce borrowing capacity under the revolving credit facility. At November 26, 2022, debt included $12.0 million of industrial revenue bonds that mature in fiscal years 2036 through 2043. In March 2022, a $1.0 million industrial revenue bond matured and was repaid. The fair value of all industrial revenue bonds approximated carrying value at November 26, 2022, due to the variable interest rates on these instruments. Our credit facility, term loan and industrial revenue bonds would be classified as Level 2 within the fair value hierarchy described in Note 4. We also maintain two Canadian committed, revolving credit facilities totaling $25.0 million (USD). At November 26, 2022, outstanding borrowings under our Canadian committed, revolving credit facilities were $3.7 million, while there were no outstanding borrowings under the Canadian facilities as of February 26, 2022. Interest payments were $5.3 million and $2.7 million for the nine months ended November 26, 2022 and November 27, 2021, respectively.

Leases Leases

Leases Leases	9 Months Ended
	Nov. 26, 2022
Leases [Abstract]
Leases	7. 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. Lease expense is recognized on a straight-line basis over the lease term. Our leases have remaining lease terms of one to ten 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; 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 non lease 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 Nine Months Ended (In thousands) November 26, 2022 November 27, 2021 November 26, 2022 November 27, 2021 Operating lease cost $ 3,293 $ 3,422 $ 9,298 $ 10,321 Short-term lease cost 144 357 804 821 Variable lease cost 904 725 2,667 2,182 Total lease cost $ 4,341 $ 4,504 $ 12,769 $ 13,324 Other supplemental information related to leases was as follows: Nine Months Ended (In thousands except weighted-average data) November 26, 2022 November 27, 2021 Cash paid for amounts included in the measurement of operating lease liabilities $ 10,580 $ 10,744 Lease assets obtained in exchange for new operating lease liabilities $ 11,125 $ 3,107 Weighted-average remaining lease term - operating leases 4.7 years 5.4 years Weighted-average discount rate - operating leases 3.14 % 2.88 % Future maturities of lease liabilities are as follows: (In thousands) November 26, 2022 Remainder of Fiscal 2023 $ 3,243 Fiscal 2024 12,587 Fiscal 2025 11,326 Fiscal 2026 9,371 Fiscal 2027 7,960 Fiscal 2028 4,270 Thereafter 2,324 Total lease payments 51,081 Less: Amounts representing interest 3,226 Present value of lease liabilities $ 47,855

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Nov. 26, 2022
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 November 26, 2022, $1.4 billion of these types of bonds were outstanding, of which $578.7 million is in our backlog. These bonds do not have stated expiration dates. We have never been required to make payments under surety or performance 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 these accruals in any given period include the following: changes in manufacturing quality, changes in product mix and any significant changes in sales volume. Nine Months Ended (In thousands) November 26, 2022 November 27, 2021 Balance at beginning of period $ 13,923 $ 14,999 Additional accruals 11,201 4,175 Claims paid (7,755) (4,071) Balance at end of period $ 17,369 $ 15,103 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 manage the risk of these exposures through contract negotiations, proactive project management and insurance coverages. Letters of credit At November 26, 2022, we had $12.3 million of ongoing letters of credit, all of which have been issued under our committed revolving credit facility, as discussed in Note 6. We also have a $3.4 million letter of credit which has been issued outside our committed revolving credit facility, with no impact on our borrowing capacity and debt covenants. Purchase obligations Purchase obligations for raw material commitments and capital expenditures totaled $222.2 million as of November 26, 2022. New Markets Tax Credit (NMTC) transactions We have three outstanding NMTC arrangements which help to support operational expansion. Proceeds received from investors on these transactions are included within other current and other non-current liabilities in our consolidated balance sheets. The NMTC arrangements are subject to 100 percent tax credit recapture for a period of seven years from the date of each respective transaction. 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 in 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 or for working capital purposes for each project, we are required to hold cash dedicated to fund each project which is classified as restricted cash in 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. During the first quarter of fiscal 2023, one NMTC transaction was terminated, and a new NMTC transaction was established as a replacement. As a result of these transactions, $19.5 million in previous proceeds received were repaid and $19.5 million was contributed back to the Company as part of the newly established NMTC transaction. This NMTC transaction will be held for the remainder of the original seven-year term. The table below provides a summary of our outstanding NMTC transactions (in millions): Inception date Termination date Deferred Benefit Deferred costs Net benefit June 2016 June 2023 $ 6.0 $ 1.2 $ 4.8 September 2018 September 2025 3.2 1.0 2.2 May 2022 (1) August 2025 6.1 1.6 4.5 Total $ 15.3 $ 3.8 $ 11.5 (1) Continuation of the August 2018 NMTC financing transaction Litigation 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. We have in the past and are currently subject to product liability and warranty claims, including certain legal claims related to a commercial sealant product formerly incorporated into our products. In December 2022, the claimant in an arbitration of one such claim was awarded $20 million. The Company intends to appeal the award and believes, after taking into account all currently available information, including the advice of counsel and the likelihood of available insurance coverage, that this award will not have a material adverse effect on the Company's business, financial condition, results of operations or cash flows. 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	9 Months Ended
	Nov. 26, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Total share-based compensation expense included in the results of operations was $6.0 million for the nine-month period ended November 26, 2022 and $4.8 million for the nine-month period ended November 27, 2021. Stock options Stock option activity for the current nine-month period is summarized as follows: Stock Options Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at beginning of year 370,800 $ 23.04 Awards exercised (145,060) 23.04 Awards canceled/expired (67,740) 23.04 Outstanding and expected to vest at November 26, 2022 158,000 $ 23.04 0.7 years $ 2,000,280 For the nine-months ended November 26, 2022, there were no cash proceeds from the exercise of stock options as all stock options were exercised on a stock-for-stock basis. 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 $2.7 million. For the nine-months ended November 27, 2021, cash proceeds from the exercise of stock options was $4.1 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 $2.3 million. Executive compensation program In fiscal 2022, the Compensation Committee of the Board of Directors implemented an executive compensation program for certain key employees. In each of the first quarters of fiscal 2023 and fiscal 2022, we issued performance shares in the form of nonvested share unit awards, which give the recipient the right to receive shares earned at the end of the respective performance periods. The number of share units issued at grant is equal to the target number of performance shares and allows for the right to receive a variable number of shares dependent on achieving a defined performance goal of return on invested capital and being employed at the end of the performance period. Nonvested share awards and units Nonvested share activity, including restricted stock awards and performance share units, 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 February 26, 2022 (1) 488,944 $ 30.14 Granted (2) 182,493 46.10 Vested (148,332) 27.56 Canceled (3) (44,932) 36.02 Nonvested at November 26, 2022 (4) 478,173 $ 36.48 (1) Includes a total of 50,825 nonvested share units granted and outstanding at target level for the fiscal 2022-2024 performance period. (2)Includes a total of 38,654 nonvested share units granted and outstanding at target level for the 2023-2025 performance period. (3) Includes a total of 9,690 nonvested share units cancelled for the fiscal 2022-2024 and fiscal 2023-2025 performance periods. (4)Includes a total of 45,207 and 34,492 nonvested share units granted and outstanding at target level for the 2022-2024 and 2023-2025 performance periods, respectively. At November 26, 2022, there was $11.4 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 25 months. The total fair value of shares vested during the nine months ended November 26, 2022 was $6.2 million.

Earnings per Share

Earnings per Share	9 Months Ended
	Nov. 26, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per ShareThe 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) November 26, 2022 November 27, 2021 November 26, 2022 November 27, 2021 Basic earnings per share – weighted average common shares outstanding 21,870 24,957 22,043 25,166 Weighted average effect of nonvested share grants and assumed exercise of stock options 408 352 413 293 Diluted earnings per share – weighted average common shares and potential common shares outstanding 22,278 25,309 22,456 25,459 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) 109 — 109 —

Segment Information

Segment Information	9 Months Ended
	Nov. 26, 2022
Segment Reporting [Abstract]
Segment Information	Business Segment Data We have four reporting segments: • The Architectural Framing Systems segment designs, engineers, fabricates and finishes aluminum window, curtainwall, storefront and entrance systems for the exterior of buildings. • The Architectural Services segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install building glass and curtainwall systems. • The Architectural Glass segment coats and fabricates, high-performance glass used in custom window and wall systems on commercial buildings. • The Large-Scale Optical (LSO) segment manufactures high-performance glass and acrylic products for custom framing, museum, and technical glass markets. At the beginning of the first quarter of fiscal 2023, we began management of the Sotawall and Harmon businesses under the Architectural Services segment in order to create a single, unified offering for larger custom curtainwall projects. The fiscal 2022 segment results were recast for comparability. Three Months Ended Nine Months Ended (In thousands) November 26, 2022 November 27, 2021 November 26, 2022 November 27, 2021 Net sales Architectural Framing Systems $ 165,013 $ 141,462 $ 501,172 $ 415,203 Architectural Services 102,031 105,404 312,151 292,506 Architectural Glass 81,541 74,289 235,158 236,693 Large-Scale Optical 26,660 27,351 76,988 75,122 Intersegment eliminations (7,398) (14,289) (28,878) (33,504) Net sales $ 367,847 $ 334,217 $ 1,096,591 $ 986,020 Operating income (loss) Architectural Framing Systems $ 22,089 $ 12,085 $ 66,266 $ 28,837 Architectural Services 6,032 7,807 14,449 19,172 Architectural Glass 7,461 (1,277) 19,087 (16,143) Large-Scale Optical 7,109 5,996 19,598 17,326 Corporate and other (7,930) (6,901) (19,351) (18,508) Operating income $ 34,761 $ 17,710 $ 100,049 $ 30,684 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.

Restructuring and Related Activ

Restructuring and Related Activities	9 Months Ended
	Nov. 26, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure	On August 11, 2021, we announced plans to realign and simplify our business structure. During the first quarter of fiscal 2023, we completed the execution of these plans with the sale of the remaining manufacturing assets at our Architectural Glass location, in Dallas, Texas, for $4.1 million. The remaining assets had a carrying value of $3.4 million, and we recognized a gain on the sale of approximately $0.6 million, net of associated transaction costs, which is included as a reduction of cost of sales within our consolidated statements of operations. The following table summarizes our restructuring related accrual balances included within accrued payroll and related costs and other current liabilities in the consolidated balance sheets. All balances are expected to be paid within the current fiscal year. (In thousands) Architectural Framing Architectural Glass Corporate & Other Total Balance at February 27, 2021 $ 2,872 $ 230 $ 161 $ 3,263 Restructuring expense 2,000 1,036 1,039 4,075 Payments (3,567) (529) (972) (5,068) Other adjustments (865) — — (865) Balance at February 26, 2022 440 737 228 1,405 Restructuring expense — 116 — 116 Payments (203) (690) (203) (1,096) Other adjustments (152) (18) — (170) Balance at November 26, 2022 $ 85 $ 145 $ 25 $ 255

Subsequent Events

Subsequent Events	1 Months Ended
	Dec. 29, 2022
Subsequent Events [Abstract]
Subsequent Events	We have evaluated subsequent events for potential recognition and disclosure through the date of this filing and determined that there were no subsequent events that required recognition or disclosure in the consolidated financial statements.

Revenue, Receivables and Cont_2

Revenue, Receivables and Contract Assets and Liabilities (Tables)	9 Months Ended
	Nov. 26, 2022
Revenue from Contract with Customer [Abstract]
Disaggregated revenue data	The following table disaggregates total revenue by timing of recognition (see Note 12 for disclosure of revenue by segment): Three Months Ended Nine Months Ended (In thousands) November 26, 2022 November 27, 2021 November 26, 2022 November 27, 2021 Recognized at shipment $ 168,593 $ 141,826 $ 504,450 $ 419,893 Recognized over time 199,254 192,391 592,141 566,127 Total $ 367,847 $ 334,217 $ 1,096,591 $ 986,020
Net receivables	(In thousands) November 26, 2022 February 26, 2022 Trade accounts $ 142,591 $ 129,085 Construction contracts 50,423 12,857 Contract retainage 31,395 28,782 Total receivables 224,409 170,724 Less: allowance for credit losses 1,855 2,132 Receivables, net $ 222,554 $ 168,592
Allowance for Credit Losses	The following table summarizes the activity in the allowance for credit losses: (In thousands) November 26, 2022 February 26, 2022 Beginning balance $ 2,132 $ 1,947 Additions charged to costs and expenses 20 729 Deductions from allowance, net of recoveries (279) (514) Other changes (1) (18) (30) Ending balance $ 1,855 $ 2,132 (1) Result of foreign currency effects
Contract assets and liabilities	(In thousands) November 26, 2022 February 26, 2022 Contract assets $ 64,359 $ 59,185 Contract liabilities 31,657 11,373
Performance obligations expected to be satisfied	expected to be satisfied, and the corresponding revenue to be recognized, over the following estimated time periods: (In thousands) November 26, 2022 Within one year $ 493,289 Within two years 280,427 Beyond two years 87,660 Total $ 861,376

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	9 Months Ended
	Nov. 26, 2022
Inventory Disclosure [Abstract]
Components of inventories	Inventories (In thousands) November 26, 2022 February 26, 2022 Raw materials $ 43,722 $ 42,541 Work-in-process 17,081 18,144 Finished goods 25,229 19,809 Total inventories $ 86,032 $ 80,494
Other current liabilities	Other current liabilities (In thousands) November 26, 2022 February 26, 2022 Warranties $ 14,137 $ 11,786 Income and other taxes 5,832 15,770 Accrued self-insurance reserves 15,888 8,796 Accrued freight 1,917 2,078 Deferred revenue 2,536 2,714 Other 25,864 26,318 Total other current liabilities $ 66,174 $ 67,462
Other non-current liabilities	Other non-current liabilities (In thousands) November 26, 2022 February 26, 2022 Deferred benefit from New Markets Tax Credit transactions $ 9,250 $ 9,165 Retirement plan obligations 6,269 7,041 Deferred compensation plan 6,851 9,483 Deferred tax liabilities 3,793 2,296 Other 21,033 16,598 Total other non-current liabilities $ 47,196 $ 44,583

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Nov. 26, 2022
Marketable Securities [Abstract]
Amortized cost, gross unrealized gains and losses, and estimated fair values of investments available for sale	e 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 November 26, 2022 $ 10,835 $ — $ 675 $ 10,160 February 26, 2022 11,862 45 123 11,784
Schedule of amortized cost and estimated fair values of investments by contractual maturity	The amortized cost and estimated fair values of these bonds at November 26, 2022, 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 $ 1,739 $ 1,720 Due after one year through five years 9,096 8,440 Total $ 10,835 $ 10,160
Fair value measurements	(In thousands) Quoted Prices in Other Observable Inputs (Level 2) Total Fair Value November 26, 2022 Assets: Money market funds $ 6,629 $ — $ 6,629 Municipal and corporate bonds — 10,160 10,160 Cash surrender value of life insurance — 16,247 16,247 Interest rate swap contract — 1,917 1,917 Liabilities: Deferred compensation — 9,277 9,277 Foreign currency forward/option contract — 192 192 Aluminum hedging contract — 2,382 2,382 February 26, 2022 Assets: Money market funds $ 19,288 $ — $ 19,288 Municipal and corporate bonds — 11,784 11,784 Cash surrender value of life insurance — 17,831 17,831 Aluminum hedging contract — 2,133 2,133 Interest rate swap contract — 718 718 Liabilities: Deferred compensation — 12,491 12,491 Foreign currency forward/option contract — 161 161

Goodwill and Other Identifiab_2

Goodwill and Other Identifiable Intangible Assets (Tables)	9 Months Ended
	Nov. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill attributable to each business segment	(In thousands) Architectural Framing Systems Architectural Services Architectural Glass Large-Scale Total Balance at February 27, 2021 $ 93,099 $ 1,120 $ 25,322 $ 10,557 $ 130,098 Foreign currency translation 82 — (78) — 4 Balance at February 26, 2022 93,181 1,120 25,244 10,557 130,102 Reallocation among reporting units (1) (2,048) 2,048 — — — Foreign currency translation (763) (105) 34 — (834) Balance at November 26, 2022 $ 90,370 $ 3,063 $ 25,278 $ 10,557 $ 129,268 (1) Represents the reallocation of goodwill as a result of transitioning Sotawall from the Architectural Framing Systems segment to the Architectural Services segment as of the start of the first quarter of fiscal 2023.
Schedule of finite lived intangible assets	The gross carrying amount of other intangible assets and related accumulated amortization was: (In thousands) Gross Accumulated Impairment Expense Foreign Net November 26, 2022 Definite-lived intangible assets: Customer relationships $ 89,495 $ (48,843) $ — $ (2,077) $ 38,575 Other intangibles 39,449 (35,300) — (815) 3,334 Total 128,944 (84,143) — (2,892) 41,909 Indefinite-lived intangible assets: Trademarks 27,129 — — (213) 26,916 Total intangible assets $ 156,073 $ (84,143) $ — $ (3,105) $ 68,825 February 26, 2022 Definite-lived intangible assets: Customer relationships $ 122,961 $ (47,226) $ (33,608) $ 141 $ 42,268 Other intangibles 41,838 (35,613) (3,127) (14) 3,084 Total 164,799 (82,839) (36,735) 127 45,352 Indefinite-lived intangible assets: Trademarks 39,832 — (12,738) 35 27,129 Total intangible assets $ 204,631 $ (82,839) $ (49,473) $ 162 $ 72,481
Schedule of estimated future amortization expense for identifiable intangible assets	At November 26, 2022, the estimated future amortization expense for definite-lived intangible assets was: (In thousands) Remainder of 2023 2024 2025 2026 2027 Estimated amortization expense $ 1,136 $ 4,393 $ 4,363 $ 4,346 $ 4,292

Leases (Tables)

Leases (Tables)	9 Months Ended
	Nov. 26, 2022
Leases [Abstract]
Schedule of lease cost	The components of lease expense were as follows: Three Months Ended Nine Months Ended (In thousands) November 26, 2022 November 27, 2021 November 26, 2022 November 27, 2021 Operating lease cost $ 3,293 $ 3,422 $ 9,298 $ 10,321 Short-term lease cost 144 357 804 821 Variable lease cost 904 725 2,667 2,182 Total lease cost $ 4,341 $ 4,504 $ 12,769 $ 13,324 Other supplemental information related to leases was as follows: Nine Months Ended (In thousands except weighted-average data) November 26, 2022 November 27, 2021 Cash paid for amounts included in the measurement of operating lease liabilities $ 10,580 $ 10,744 Lease assets obtained in exchange for new operating lease liabilities $ 11,125 $ 3,107 Weighted-average remaining lease term - operating leases 4.7 years 5.4 years Weighted-average discount rate - operating leases 3.14 % 2.88 %
Schedule of operating lease liability	Future maturities of lease liabilities are as follows: (In thousands) November 26, 2022 Remainder of Fiscal 2023 $ 3,243 Fiscal 2024 12,587 Fiscal 2025 11,326 Fiscal 2026 9,371 Fiscal 2027 7,960 Fiscal 2028 4,270 Thereafter 2,324 Total lease payments 51,081 Less: Amounts representing interest 3,226 Present value of lease liabilities $ 47,855

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Nov. 26, 2022
Commitments and Contingencies Disclosure [Abstract]
Guarantees and warranties	Nine Months Ended (In thousands) November 26, 2022 November 27, 2021 Balance at beginning of period $ 13,923 $ 14,999 Additional accruals 11,201 4,175 Claims paid (7,755) (4,071) Balance at end of period $ 17,369 $ 15,103

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Nov. 26, 2022
Share-Based Payment Arrangement [Abstract]
Award transactions on stock options	Stock option activity for the current nine-month period is summarized as follows: Stock Options Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at beginning of year 370,800 $ 23.04 Awards exercised (145,060) 23.04 Awards canceled/expired (67,740) 23.04 Outstanding and expected to vest at November 26, 2022 158,000 $ 23.04 0.7 years $ 2,000,280
Nonvested share award transactions	Nonvested share activity, including restricted stock awards and performance share units, 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 February 26, 2022 (1) 488,944 $ 30.14 Granted (2) 182,493 46.10 Vested (148,332) 27.56 Canceled (3) (44,932) 36.02 Nonvested at November 26, 2022 (4) 478,173 $ 36.48

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Nov. 26, 2022
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) November 26, 2022 November 27, 2021 November 26, 2022 November 27, 2021 Basic earnings per share – weighted average common shares outstanding 21,870 24,957 22,043 25,166 Weighted average effect of nonvested share grants and assumed exercise of stock options 408 352 413 293 Diluted earnings per share – weighted average common shares and potential common shares outstanding 22,278 25,309 22,456 25,459 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) 109 — 109 —

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Nov. 26, 2022
Segment Reporting [Abstract]
Sales and operating income data	Three Months Ended Nine Months Ended (In thousands) November 26, 2022 November 27, 2021 November 26, 2022 November 27, 2021 Net sales Architectural Framing Systems $ 165,013 $ 141,462 $ 501,172 $ 415,203 Architectural Services 102,031 105,404 312,151 292,506 Architectural Glass 81,541 74,289 235,158 236,693 Large-Scale Optical 26,660 27,351 76,988 75,122 Intersegment eliminations (7,398) (14,289) (28,878) (33,504) Net sales $ 367,847 $ 334,217 $ 1,096,591 $ 986,020 Operating income (loss) Architectural Framing Systems $ 22,089 $ 12,085 $ 66,266 $ 28,837 Architectural Services 6,032 7,807 14,449 19,172 Architectural Glass 7,461 (1,277) 19,087 (16,143) Large-Scale Optical 7,109 5,996 19,598 17,326 Corporate and other (7,930) (6,901) (19,351) (18,508) Operating income $ 34,761 $ 17,710 $ 100,049 $ 30,684

Restructuring and Related Act_2

Restructuring and Related Activities (Tables)	9 Months Ended
	Nov. 26, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	The following table summarizes our restructuring related accrual balances included within accrued payroll and related costs and other current liabilities in the consolidated balance sheets. All balances are expected to be paid within the current fiscal year. (In thousands) Architectural Framing Architectural Glass Corporate & Other Total Balance at February 27, 2021 $ 2,872 $ 230 $ 161 $ 3,263 Restructuring expense 2,000 1,036 1,039 4,075 Payments (3,567) (529) (972) (5,068) Other adjustments (865) — — (865) Balance at February 26, 2022 440 737 228 1,405 Restructuring expense — 116 — 116 Payments (203) (690) (203) (1,096) Other adjustments (152) (18) — (170) Balance at November 26, 2022 $ 85 $ 145 $ 25 $ 255

Revenue, Receivables and Cont_3

Revenue, Receivables and Contract Assets and Liabilities Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Nov. 26, 2022	Nov. 27, 2021
Disaggregation of Revenue [Line Items]
Total	$ 367,847	$ 334,217	$ 1,096,591	$ 986,020
Revenue from Contract with Customer, Including Assessed Tax	367,847	334,217	1,096,591	986,020
Recognized at shipment
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	168,593	141,826	504,450	419,893
Recognized over time
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 199,254	$ 192,391	$ 592,141	$ 566,127

Revenue, Receivables and Cont_4

Revenue, Receivables and Contract Assets and Liabilities Accounts Receivable (Details) - USD ($) $ in Thousands	Nov. 26, 2022	Feb. 26, 2022	Feb. 27, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 224,409	$ 170,724
Beginning balance	1,855	2,132	$ 1,947
Receivables, net	222,554	168,592
Trade accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	142,591	129,085
Construction contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	50,423	12,857
Contract retainage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 31,395	$ 28,782

Revenue, Receivables and Cont_5

Revenue, Receivables and Contract Assets and Liabilities Allowance for Credit Losses (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Nov. 26, 2022	Feb. 26, 2022	Feb. 27, 2021
Credit Loss [Abstract]
Beginning balance	$ 1,855	$ 2,132	$ 1,947
Additions charged to costs and expenses	20	729
Deductions from allowance, net of recoveries	(279)	(514)
Other changes (1)	(18)	(30)
Ending balance	$ 1,855	$ 2,132	$ 1,947

Revenue, Receivables and Cont_6

Revenue, Receivables and Contract Assets and Liabilities Contract Assets & Liabilities (Details) - USD ($) $ in Thousands	Nov. 26, 2022	Feb. 26, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 64,359	$ 59,185
Contract liabilities	$ 31,657	$ 11,373

Revenue, Receivables and Cont_7

Revenue, Receivables and Contract Assets and Liabilities (Details 4) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Nov. 26, 2022	Nov. 27, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized related to contract liabilities from prior year-end	$ 3,473	$ 1,687	$ 36,630	$ 18,266
Revenue recognized related to prior satisfaction of performance obligations	$ 4,640	$ 5,051	$ 9,586	$ 12,568

Revenue, Receivables and Cont_8

Revenue, Receivables and Contract Assets and Liabilities (Details 5) $ in Thousands	Nov. 26, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 861,376
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-11-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 493,289
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-11-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 280,427
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-11-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 87,660
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information - Components of inventories (Details) - USD ($) $ in Thousands	Nov. 26, 2022	Feb. 26, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 43,722	$ 42,541
Work-in-process	17,081	18,144
Finished goods	25,229	19,809
Total inventories	$ 86,032	$ 80,494

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information - Other current liabilities (Details) - USD ($) $ in Thousands	Nov. 26, 2022	Feb. 26, 2022
Inventory Disclosure [Abstract]
Warranties	$ 14,137	$ 11,786
Income and other taxes	5,832	15,770
Accrued self-insurance reserves	15,888	8,796
Accrued freight	1,917	2,078
Deferred revenue	2,536	2,714
Other	25,864	26,318
Total other current liabilities	$ 66,174	$ 67,462

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information - Other non-current liabilities (Details) - USD ($) $ in Thousands	Nov. 26, 2022	Feb. 26, 2022
Inventory Disclosure [Abstract]
Deferred benefit from New Markets Tax Credit transactions	$ 9,250	$ 9,165
Retirement plan obligations	6,269	7,041
Deferred compensation plan	6,851	9,483
Deferred tax liabilities	3,793	2,296
Other	21,033	16,598
Total other non-current liabilities	$ 47,196	$ 44,583

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Thousands	Nov. 26, 2022	Feb. 26, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 10,835
Estimated Fair Value	10,160
Municipal and Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,835	$ 11,862
Gross Unrealized Gains	0	45
Gross Unrealized Losses	675	123
Estimated Fair Value	$ 10,160	$ 11,784

Financial Instruments (Details

Financial Instruments (Details 2) $ in Thousands	Nov. 26, 2022 USD ($)
Amortized Cost
Due within one year	$ 1,739
Due after one year through five years	9,096
Total	10,835
Estimated Fair Value
Due within one year	1,720
Due after one year through five years	8,440
Total	$ 10,160

Financial Instruments (Detail_2

Financial Instruments (Details 3) - USD ($) $ in Thousands	Nov. 26, 2022	Feb. 26, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 6,629	$ 19,288
Municipal and corporate bonds	10,160	11,784
Cash surrender value of life insurance	16,247	17,831
Deferred compensation	9,277	12,491
Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward/option contract	192	161
Commodity Option [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aluminum hedging contract		2,133
Foreign currency forward/option contract	2,382
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contract	1,917	718
Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	6,629	19,288
Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Municipal and corporate bonds	10,160	11,784
Cash surrender value of life insurance	16,247	17,831
Deferred compensation	9,277	12,491
Other Observable Inputs (Level 2) | Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward/option contract	192	161
Other Observable Inputs (Level 2) | Commodity Option [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aluminum hedging contract		2,133
Foreign currency forward/option contract	2,382
Other Observable Inputs (Level 2) | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contract	$ 1,917	$ 718

Financial Instruments (Detail_3

Financial Instruments (Details Textual) - Designated as Hedging Instrument $ in Millions	Nov. 26, 2022 USD ($)
Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 30
Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	3
Commodity Option [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 8.1

Goodwill and Other Identifiab_3

Goodwill and Other Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Nov. 26, 2022	Feb. 26, 2022
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	$ 130,102	$ 130,098
Foreign currency translation	(834)	4
Reallocation among reporting units (1)	0
Goodwill, Ending	129,268	130,102
Architectural Framing Systems
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	93,181	93,099
Foreign currency translation	(763)	82
Reallocation among reporting units (1)	(2,048)
Goodwill, Ending	90,370	93,181
Architectural Services
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	1,120	1,120
Foreign currency translation	(105)	0
Reallocation among reporting units (1)	(2,048)
Goodwill, Ending	3,063	1,120
Architectural Glass
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	25,244	25,322
Foreign currency translation	34	(78)
Reallocation among reporting units (1)	0
Goodwill, Ending	25,278	25,244
Large-Scale Optical
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	10,557	10,557
Foreign currency translation	0	0
Reallocation among reporting units (1)	0
Goodwill, Ending	$ 10,557	$ 10,557

Goodwill and Other Identifiab_4

Goodwill and Other Identifiable Intangible Assets (Details 1) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Nov. 26, 2022	Feb. 26, 2022
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	$ 128,944	$ 164,799
Accumulated Amortization	(84,143)	(82,839)
Impairment Expense	0	(36,735)
Foreign Currency Translation	(2,892)	127
Net	41,909	45,352
Impairment Expense		(12,700)
Intangible Assets, Gross (Excluding Goodwill)	156,073	204,631
Intangible Assets Accumulated Amortization	(84,143)	(82,839)
Impairment Expense	0	(49,473)
Intangible Assets Foreign Currency Translation	(3,105)	162
Intangible assets	68,825	72,481
Trademarks and Trade Names
Schedule of finite lived identifiable intangible assets
Indefinite-lived Intangible Assets (Excluding Goodwill)	27,129	39,832
Impairment Expense	0	(12,738)
Indefinite Lived Identifiable Intangible Assets, Foreign Currency Translation Adjustments	(213)	35
Indefinite-lived Intangible Assets (Excluding Goodwill), Net of translation adjustments	26,916	27,129
Customer relationships
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	89,495	122,961
Accumulated Amortization	(48,843)	(47,226)
Impairment Expense	0	(33,608)
Foreign Currency Translation	(2,077)	141
Net	38,575	42,268
Other intangibles
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	39,449	41,838
Accumulated Amortization	(35,300)	(35,613)
Impairment Expense	0	(3,127)
Foreign Currency Translation	(815)	(14)
Net	$ 3,334	$ 3,084

Goodwill and Other Identifiab_5

Goodwill and Other Identifiable Intangible Assets (Details 2) $ in Thousands	Nov. 26, 2022 USD ($)
Schedule of estimated future amortization expense for identifiable intangible assets
Remainder of 2023	$ 1,136
2024	4,393
2025	4,363
2026	4,346
2027	$ 4,292

Goodwill and Other Identifiab_6

Goodwill and Other Identifiable Intangible Assets (Details Textual) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Feb. 26, 2022
Goodwill and Other Identifiable Intangible Assets (Textual) [Abstract]
Amortization expense on identifiable intangible assets	$ 3,100	$ 5,900
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 12,700
Impairment of Intangible Assets, Finite-Lived	$ 0		$ 36,735

Debt (Details)

Debt (Details) - USD ($) $ in Millions	9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Aug. 27, 2022	Feb. 26, 2022
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 385
Interest payments	5.3	$ 2.7
Repayment Recovery Zone Facility Bonds	1
Revolving credit facility
Line of Credit Facility [Line Items]
Outstanding borrowings	188			$ 0
Industrial Revenue Bonds
Line of Credit Facility [Line Items]
Debt	12
Term Loan
Line of Credit Facility [Line Items]
Debt			$ 150	150
Letter of credit
Line of Credit Facility [Line Items]
Debt	12.3
Canada | Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	25
Outstanding borrowings	$ 3.7			$ 0

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Nov. 26, 2022	Nov. 27, 2021
Leases [Abstract]
Operating lease cost	$ 3,293	$ 3,422	$ 9,298	$ 10,321
Short-term lease cost	144	357	804	821
Variable lease cost	904	725	2,667	2,182
Total lease cost	$ 4,341	$ 4,504	$ 12,769	$ 13,324

Leases (Details 1)

Leases (Details 1) - USD ($) $ in Thousands	9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 10,580	$ 10,744
Lease assets obtained in exchange for new operating lease liabilities	$ 11,125	$ 3,107
Weighted-average remaining lease term - operating leases	4 years 8 months 12 days	5 years 4 months 24 days
Weighted-average discount rate - operating leases	3.14%	2.88%

Leases (Details 2)

Leases (Details 2) $ in Thousands	Nov. 26, 2022 USD ($)
Leases [Abstract]
Remainder of Fiscal 2023	$ 3,243
Fiscal 2024	12,587
Fiscal 2025	11,326
Fiscal 2026	9,371
Fiscal 2027	7,960
Fiscal 2028	4,270
Thereafter	2,324
Total lease payments	51,081
Less: Amounts representing interest	3,226
Present value of lease liabilities	$ 47,855

Commitments and Contingent Li_3

Commitments and Contingent Liabilities (Details 1) - USD ($) $ in Thousands	9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Guarantees and warranties
Balance at beginning of period	$ 13,923	$ 14,999
Additional accruals	11,201	4,175
Claims paid	(7,755)	(4,071)
Balance at end of period	$ 17,369	$ 15,103

Commitments and Contingent Li_4

Commitments and Contingent Liabilities (Details 2) $ in Thousands	9 Months Ended
	Nov. 26, 2022 USD ($)
Income Tax Contingency [Line Items]
Proceeds received	$ 15,300
Deferred costs	3,800
Net benefit	11,500
June 2023
Income Tax Contingency [Line Items]
Proceeds received	6,000
Deferred costs	1,200
Net benefit	4,800
August 2025
Income Tax Contingency [Line Items]
Proceeds received	6,100
Deferred costs	1,600
Net benefit	4,500
September 2025
Income Tax Contingency [Line Items]
Proceeds received	3,200
Deferred costs	1,000
Net benefit	$ 2,200

Commitments and Contingent Li_5

Commitments and Contingent Liabilities (Details Textual) $ in Thousands	9 Months Ended
	Nov. 26, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Face value of performance bonds	$ 1,400,000
Companies Backlog Related to Sales	578,700
Purchase obligations	222,200
Net benefit	$ 11,500

Share-Based Compensation (Detai

Share-Based Compensation (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 27, 2022	May 29, 2021	Nov. 26, 2022
Award transactions on stock options
Outstanding, Beginning			370,800
Awards exercised	(36,000)	(179,000)	(145,060)
Awards canceled/expired			(67,740)
Outstanding, Ending			158,000
Award transactions on stock options, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price, Beginning			$ 23.04
Weighted average exercise price, Awards exercised			23.04
Weighted Average Exercise Price, Awards canceled			23.04
Weighted average exercise price, Ending			$ 23.04
Weighted average remaining contractual life, Outstanding			8 months 12 days
Aggregate intrinsic value, Outstanding			$ 2,000,280

Share-Based Compensation (Det_2

Share-Based Compensation (Details 2)	9 Months Ended
	Nov. 26, 2022 $ / shares shares
Nonvested share award transactions
Nonvested Number, Beginning | shares	488,944
Number of shares, Granted | shares	182,493
Number of shares, Vested | shares	(148,332)
Number of shares, Canceled | shares	(44,932)
Nonvested Number, Ending | shares	478,173
Nonvested share award transactions, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, Beginning | $ / shares	$ 30.14
Weighted average grant date fair value, Granted | $ / shares	46.10
Weighted average grant date fair value, Vested | $ / shares	27.56
Weighted average grant date fair value, Canceled | $ / shares	36.02
Weighted average grant date fair value, Ending | $ / shares	$ 36.48

Share-Based Compensation (Det_3

Share-Based Compensation (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Noncash Expense	$ 5,961	$ 4,807
Cash proceeds from exercise of stock options	0	4,100
Aggregate Intrinsic Value, Exercisable	2,700	$ 2,300
Total unrecognized compensation cost related to nonvested share	$ 11,400
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period, Nonvested	25 months
Total fair value of shares vested	$ 6,200

Earnings per Share Earnings per

Earnings per Share Earnings per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Nov. 26, 2022	Nov. 27, 2021
Earnings Per Share [Abstract]
Basic earnings per share – weighted average common shares outstanding	21,870	24,957	22,043	25,166
Weighted average effect of nonvested share grants and assumed exercise of stock options	408	352	413	293
Diluted earnings per share – weighted average common shares and potential common shares outstanding	22,278	25,309	22,456	25,459
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)	109	0	109	0

Segment Information Segment Inf

Segment Information Segment Information (Details Textual)	9 Months Ended
	Nov. 26, 2022 Reportable_segment
Segment Reporting [Abstract]
Number of Reportable Segments	4

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Nov. 26, 2022	Nov. 27, 2021
Sales and operating income data
Net sales	$ 367,847	$ 334,217	$ 1,096,591	$ 986,020
Operating income (loss)	34,761	17,710	100,049	30,684
Intersegment eliminations
Sales and operating income data
Net sales	(7,398)	(14,289)	(28,878)	(33,504)
Architectural Framing Systems
Sales and operating income data
Net sales	165,013	141,462	501,172	415,203
Operating income (loss)	22,089	12,085	66,266	28,837
Architectural Services
Sales and operating income data
Net sales	102,031	105,404	312,151	292,506
Operating income (loss)	6,032	7,807	14,449	19,172
Architectural Glass
Sales and operating income data
Net sales	81,541	74,289	235,158	236,693
Operating income (loss)	7,461	(1,277)	19,087	(16,143)
Large-Scale Optical
Sales and operating income data
Net sales	26,660	27,351	76,988	75,122
Operating income (loss)	7,109	5,996	19,598	17,326
Corporate and other
Sales and operating income data
Operating income (loss)	$ (7,930)	$ (6,901)	$ (19,351)	$ (18,508)

Restructuring and Related Act_3

Restructuring and Related Activities (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Restructuring Cost and Reserve [Line Items]
Proceeds from Sale of Property Held-for-sale	$ 4,100
Gain (Loss) on Disposition of Property Plant Equipment	1,484	$ 1,250
CarryingValuePropertyHeldForSale	3,400
Machinery and Equipment
Restructuring Cost and Reserve [Line Items]
Gain (Loss) on Disposition of Property Plant Equipment	$ 600

Restructuring and Related Act_4

Restructuring and Related Activities (Details 1) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Nov. 26, 2022	Feb. 26, 2022	Feb. 27, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	$ 255	$ 1,405	$ 3,263
Restructuring expense	116	4,075
Payments	(1,096)	(5,068)
Other adjustments	(170)	(865)
Restructuring Reserve, Ending Balance	255	1,405	3,263
Architectural Framing Systems
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	85	440	2,872
Restructuring expense	0	2,000
Payments	(203)	(3,567)
Other adjustments	(152)	(865)
Restructuring Reserve, Ending Balance	85	440	2,872
Architectural Glass
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	145	737	230
Restructuring expense	116	1,036
Payments	(690)	(529)
Other adjustments	(18)	0
Restructuring Reserve, Ending Balance	145	737	230
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	25	228	161
Restructuring expense	0	1,039
Payments	(203)	(972)
Other adjustments	0	0
Restructuring Reserve, Ending Balance	$ 25	$ 228	$ 161