Apogee Enterprises (APOG) 10-Q 7 Jan 25 2025 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Nov. 30, 2024	Jan. 03, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 30, 2024
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		21,953,364
Entity Central Index Key	0000006845
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--03-01

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Nov. 30, 2024	Mar. 02, 2024
Current assets
Cash and cash equivalents	$ 43,855	$ 37,216
Receivables, net	187,799	173,557
Inventories, net	97,003	69,240
Contract assets	57,545	49,502
Other current assets	45,119	29,124
Total current assets	431,321	358,639
Property, plant and equipment, net of accumulated depreciation of $465,837 and $445,017	269,063	244,216
Operating lease right-of-use assets	63,663	40,221
Goodwill	234,814	129,182
Intangible assets, net	140,390	66,114
Other non-current assets	41,269	45,692
Total assets	1,180,520	884,064
Current liabilities
Accounts payable	96,372	84,755
Accrued compensation and benefits	39,432	53,801
Contract liabilities	46,165	34,755
Operating lease liabilities	14,958	12,286
Other current liabilities	66,982	59,108
Total current liabilities	263,909	244,705
Long-term debt	272,000	62,000
Non-current operating lease liabilities	54,188	31,907
Non-current self-insurance reserves	33,303	30,552
Other non-current liabilities	35,051	43,875
Commitments and contingent liabilities (Note 6)
Shareholders’ equity
Junior preferred stock of $1.00 par value; authorized 200,000 shares; zero issued and outstanding	0	0
Common stock of $0.33-1/3 par value; authorized 50,000,000 shares; issued and outstanding 21,939,010 and 22,089,265, respectively	7,313	7,363
Additional paid-in capital	158,248	152,818
Retained earnings	388,478	340,375
Accumulated other comprehensive loss	(31,970)	(29,531)
Total shareholders’ equity	522,069	471,025
Total liabilities and shareholders’ equity	$ 1,180,520	$ 884,064

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2024	Mar. 02, 2024
Statement of Financial Position [Abstract]
Accumulated depreciation property, plant, and equipment	$ 465,837	$ 445,017
Junior preferred stock par value (in usd per share)	$ 1	$ 1
Junior preferred stock authorized (in shares)	200,000	200,000
Junior preferred stock issued (in shares)	0	0
Junior preferred stock outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.33	$ 0.33
Common stock, authorized (in shares)	50,000,000	50,000,000
Common stock, issued (in shares)	21,939,010	22,089,265
Common stock, outstanding (in shares)	21,939,010	22,089,265

CONSOLIDATED RESULTS OF OPERATI

CONSOLIDATED RESULTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024	Nov. 25, 2023
Income Statement [Abstract]
Net sales	$ 341,344	$ 339,714	$ 1,015,300	$ 1,055,102
Cost of sales	252,195	249,409	729,975	776,440
Gross profit	89,149	90,305	285,325	278,662
Selling, general and administrative expenses	60,520	52,658	173,350	166,695
Operating income	28,629	37,647	111,975	111,967
Interest expense, net	1,044	1,454	2,634	5,720
Other (income) expense, net	(60)	890	(493)	(3,722)
Earnings before income taxes	27,645	35,303	109,834	109,969
Income tax expense	6,656	8,329	27,268	26,092
Net earnings	$ 20,989	$ 26,974	$ 82,566	$ 83,877
Basic earnings per share (in usd per share)	$ 0.96	$ 1.24	$ 3.79	$ 3.83
Diluted earnings per share (in usd per share)	$ 0.96	$ 1.23	$ 3.76	$ 3.80
Weighted average basic shares outstanding (in shares)	21,782	21,819	21,789	21,889
Weighted average diluted shares outstanding (in shares)	21,917	22,013	21,937	22,093

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024	Nov. 25, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 20,989	$ 26,974	$ 82,566	$ 83,877
Other comprehensive (loss) earnings:
Unrealized (loss) gain on marketable securities, net of $(13), $(2), $16 and $23 of tax (benefit) expense, respectively	(48)	(7)	60	86
Unrealized (loss) gain on derivative instruments, net of $(21), $56, $86 and $1 of tax (benefit) expense, respectively	(69)	186	281	6
Foreign currency translation adjustments	(1,619)	(604)	(2,780)	340
Other comprehensive (loss) earnings	(1,736)	(425)	(2,439)	432
Total comprehensive earnings	$ 19,253	$ 26,549	$ 80,127	$ 84,309

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Earnings (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024	Nov. 25, 2023
Statement of Comprehensive Income [Abstract]
Unrealized (loss) gain on marketable securities, tax (benefit)	$ (13)	$ (2)	$ 16	$ 23
Unrealized (loss) gain on derivative instruments, tax (benefit)	$ (21)	$ 56	$ 86	$ 1

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023
Operating Activities
Net earnings	$ 82,566	$ 83,877
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	30,798	31,185
Share-based compensation	8,067	6,644
Deferred income taxes	5,109	1,296
Loss (gain) on disposal of property, plant and equipment	159	(50)
Settlement of New Markets Tax Credit transaction	0	(4,687)
Non-cash lease expense	9,926	8,742
Other, net	1,800	10
Changes in operating assets and liabilities:
Receivables	(2,191)	(846)
Inventories	(8,284)	8,256
Contract assets	(8,168)	11,194
Accounts payable	6,796	(1,902)
Accrued compensation and benefits	(20,958)	(7,015)
Contract liabilities	11,499	7,635
Operating lease liability	(9,387)	(9,214)
Accrued income taxes	(6,498)	(7,587)
Other current assets and liabilities	(6,104)	1,714
Net cash provided by operating activities	95,130	129,252
Investing Activities
Capital expenditures	(24,696)	(26,956)
Proceeds from sales of property, plant and equipment	744	247
Purchases of marketable securities	(2,394)	(969)
Sales/maturities of marketable securities	2,370	1,370
Acquisition of business, net of cash acquired	(233,125)	0
Net cash used by investing activities	(257,101)	(26,308)
Financing Activities
Proceeds from revolving credit facilities	95,201	195,851
Repayment on revolving credit facilities	(115,201)	(265,000)
Proceeds from term loans	250,000	0
Repayment of term loans	(20,000)	0
Payments of debt issuance costs	(3,798)	0
Repurchase of common stock	(15,061)	(11,821)
Dividends paid	(16,238)	(15,690)
Other, net	(5,884)	(3,781)
Net cash provided (used) by financing activities	169,019	(100,441)
Effect of exchange rates on cash	(409)	(569)
Increase in cash and cash equivalents	6,639	1,934
Cash and cash equivalents at beginning of period	37,216	21,473
Cash and cash equivalents at end of period	43,855	23,407
Non-cash Activity
Capital expenditures in accounts payable	$ 2,299	$ 1,231

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock at Par Value	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Beginning balance (in shares) at Feb. 25, 2023		22,224
Beginning balance at Feb. 25, 2023	$ 396,408	$ 7,408	$ 146,816	$ 273,740	$ (31,556)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	23,576			23,576
Other comprehensive income (loss), net of tax	159				159
Issuance of stock, net of cancellations (in shares)		155
Issuance of stock, net of cancellations	56	$ 52	13	(9)
Share-based compensation	2,178		2,178
Share repurchases (in shares)		(120)
Share repurchases	(5,193)	$ (40)	(829)	(4,324)
Other share retirements (in shares)		(40)
Other share retirements	(1,733)	$ (14)	(281)	(1,438)
Cash dividends	(5,245)			(5,245)
Ending balance (in shares) at May. 27, 2023		22,219
Ending balance at May. 27, 2023	410,206	$ 7,406	147,897	286,300	(31,397)
Beginning balance (in shares) at Feb. 25, 2023		22,224
Beginning balance at Feb. 25, 2023	396,408	$ 7,408	146,816	273,740	(31,556)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	83,877
Ending balance (in shares) at Nov. 25, 2023		22,085
Ending balance at Nov. 25, 2023	455,731	$ 7,362	149,557	329,936	(31,124)
Beginning balance (in shares) at May. 27, 2023		22,219
Beginning balance at May. 27, 2023	410,206	$ 7,406	147,897	286,300	(31,397)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	33,327			33,327
Other comprehensive income (loss), net of tax	697				697
Issuance of stock, net of cancellations (in shares)		(3)
Issuance of stock, net of cancellations	(189)	$ (1)	7	(195)
Share-based compensation	2,305		2,305
Exercise of stock options (in shares)		25
Exercise of stock options	(1,184)	$ 8	(1,192)
Share repurchases (in shares)		(160)
Share repurchases	(6,628)	$ (53)	(1,160)	(5,415)
Other share retirements (in shares)		(9)
Other share retirements	(994)	$ (3)	(444)	(547)
Cash dividends	(5,222)			(5,222)
Ending balance (in shares) at Aug. 26, 2023		22,072
Ending balance at Aug. 26, 2023	432,318	$ 7,357	147,413	308,248	(30,700)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	26,974			26,974
Other comprehensive income (loss), net of tax	(424)				(424)
Issuance of stock, net of cancellations (in shares)		15
Issuance of stock, net of cancellations	1	$ 6	(5)
Share-based compensation	2,161		2,161
Other share retirements (in shares)		(2)
Other share retirements	(77)	$ (1)	(12)	(64)
Cash dividends	(5,222)			(5,222)
Ending balance (in shares) at Nov. 25, 2023		22,085
Ending balance at Nov. 25, 2023	455,731	$ 7,362	149,557	329,936	(31,124)
Beginning balance (in shares) at Mar. 02, 2024		22,089
Beginning balance at Mar. 02, 2024	471,025	$ 7,363	152,818	340,375	(29,531)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	31,011			31,011
Other comprehensive income (loss), net of tax	521				521
Issuance of stock, net of cancellations (in shares)		170
Issuance of stock, net of cancellations	0	$ 57	(57)
Share-based compensation	2,704		2,704
Share repurchases (in shares)		(242)
Share repurchases	(15,061)	$ (81)	(1,860)	(13,120)
Other share retirements (in shares)		(80)
Other share retirements	(4,836)	$ (27)	(603)	(4,206)
Cash dividends	(5,409)			(5,409)
Ending balance (in shares) at Jun. 01, 2024		21,937
Ending balance at Jun. 01, 2024	479,955	$ 7,312	153,002	348,651	(29,010)
Beginning balance (in shares) at Mar. 02, 2024		22,089
Beginning balance at Mar. 02, 2024	471,025	$ 7,363	152,818	340,375	(29,531)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	82,566
Ending balance (in shares) at Nov. 30, 2024		21,939
Ending balance at Nov. 30, 2024	522,069	$ 7,313	158,248	388,478	(31,970)
Beginning balance (in shares) at Jun. 01, 2024		21,937
Beginning balance at Jun. 01, 2024	479,955	$ 7,312	153,002	348,651	(29,010)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	30,566			30,566
Other comprehensive income (loss), net of tax	(1,224)				(1,224)
Issuance of stock, net of cancellations (in shares)		16
Issuance of stock, net of cancellations	0	$ 5	(5)
Share-based compensation	2,938		2,938
Other share retirements (in shares)		(7)
Other share retirements	(401)	$ (2)	(52)	(347)
Cash dividends	(5,412)			(5,412)
Ending balance (in shares) at Aug. 31, 2024		21,946
Ending balance at Aug. 31, 2024	506,422	$ 7,315	155,883	373,458	(30,234)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	20,989			20,989
Other comprehensive income (loss), net of tax	(1,736)				(1,736)
Issuance of stock, net of cancellations (in shares)		1
Share-based compensation	2,425		2,425
Other share retirements (in shares)		(8)
Other share retirements	(614)	$ (2)	(60)	(552)
Cash dividends	(5,417)			(5,417)
Ending balance (in shares) at Nov. 30, 2024		21,939
Ending balance at Nov. 30, 2024	$ 522,069	$ 7,313	$ 158,248	$ 388,478	$ (31,970)

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Nov. 30, 2024
Accounting Policies [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 (U.S. GAAP). 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, 2024. 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 30, 2024 are not necessarily indicative of the results to be expected for the full year. New accounting standards In November 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which expands the required disclosure for reportable segments. This guidance requires entities to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all segment disclosures which are currently required annually. This ASU additionally requires entities to disclose the title and position of the individual or the name of the group or committee identified as its chief operating decision-maker. Such guidance, which is required to be applied retrospectively, is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, although early adoption is permitted. While the adoption of this ASU will not have an impact on our financial position and/or results of operations, we are currently evaluating the impact to our segment disclosures for the year ended March 1, 2025 and future interim periods. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, intended to enhance the transparency and decision-usefulness of income tax disclosures. Such guidance requires entities to provide additional information within their income tax rate reconciliation, including further disclosure of federal, state, and foreign income taxes and to provide more details about these reconciling items if a quantitative threshold is met. This guidance additionally requires expanded disclosure of income taxes paid, including amounts paid for federal, state, and foreign taxes. This ASU, which is required to be applied prospectively, is effective for fiscal years beginning after December 15, 2024, although early adoption and retrospective application is permitted. While the adoption of this ASU will not have an impact on our financial position and/or results of operations, we are currently evaluating the impact on our income tax disclosures, including the processes and controls around the collection of this information. In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses. This guidance requires entities to disclose more detailed information about the types of expenses, including purchases of inventory, employee compensation, depreciation, amortization, and depletion in commonly presented expense captions such as cost of sales and selling, general and administrative (SG&A) expenses. Such guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, although early adoption is permitted. This guidance should be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the financial statements. While the adoption of this ASU will not have an impact on our financial position and/or results of operations, we are currently evaluating the impact this ASU may have on our consolidated financial statement disclosures, including the processes and controls around the collection of this information.

Revenue, Receivables and Contra

Revenue, Receivables and Contract Assets and Liabilities	9 Months Ended
	Nov. 30, 2024
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 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Recognized at shipment $ 150,704 $ 144,910 $ 427,945 $ 449,805 Recognized over time (input method) 125,451 115,345 360,815 356,996 Recognized over time (output method) 65,189 79,459 226,540 248,301 Total $ 341,344 $ 339,714 $ 1,015,300 $ 1,055,102 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 forecasted 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. (In thousands) November 30, 2024 March 2, 2024 Trade accounts $ 121,329 $ 115,061 Construction contracts 68,953 61,879 Total receivables 190,282 176,940 Less: allowance for credit losses 2,483 3,383 Receivables, net $ 187,799 $ 173,557 The following table summarizes the activity in the allowance for credit losses for the nine-month period ended: (In thousands) November 30, 2024 Beginning balance $ 3,383 Credits charged to costs and expenses (1,412) Deductions from allowance, net of recoveries (72) Allowance for credit losses from acquisitions 607 Other adjustments (23) Ending balance $ 2,483 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. 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. Contract liabilities consist of billings in excess of costs and earnings and other deferred revenue on contracts. The time period between when performance obligations are complete and payment is due is not significant. In certain parts of our business that recognize revenue over time, progress billings follow an agreed-upon schedule of values. 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 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Revenue recognized related to contract liabilities from prior year-end $ 399 $ 191 $ 30,760 $ 25,147 Revenue recognized related to prior satisfaction of performance obligations 4,129 730 12,295 5,634 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 30, 2024 are expected to be satisfied, and the corresponding revenue to be recognized, over the following estimated time periods: (In thousands) November 30, 2024 Within one year $ 530,834 Between one and two years 261,463 Beyond two years 88,030 Total $ 880,327

Inventories

Inventories	9 Months Ended
	Nov. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories (In thousands) November 30, 2024 March 2, 2024 Raw materials $ 37,871 $ 31,363 Work-in-process 17,504 12,291 Finished goods 41,628 25,586 Total inventories, net $ 97,003 $ 69,240

Financial Instruments

Financial Instruments	9 Months Ended
	Nov. 30, 2024
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 fixed-maturity investments: (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated November 30, 2024 $ 11,444 $ 43 $ 389 $ 11,098 March 2, 2024 11,327 15 437 10,905 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 investments at November 30, 2024, 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 $ 4,081 $ 3,971 Due after one year through five years 7,363 7,127 Total $ 11,444 $ 11,098 Derivative instruments We periodically use interest rate swaps, currency put options, 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 floating-rate borrowings under our credit facility. As of November 30, 2024, the interest rate swap contract had a notional value of $30.0 million and has a maturity date of February 5, 2026. 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. These contracts generally have an original maturity date of less than one year. As of November 30, 2024, we held aluminum purchase contracts and foreign exchange option contracts with U.S. dollar notional values of $0.2 million and $0.8 million, respectively. The mark to market adjustments on these derivative instruments are recorded within our consolidated balance sheets within other current assets and other current liabilities. Gains or losses associated with these instruments are recorded as a component of accumulated other comprehensive loss until which time the hedged transaction is settled and gains or losses are reclassified to net earnings. 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 30, 2024 Assets: Money market funds $ 25,010 $ — $ 25,010 Municipal and corporate bonds — 11,098 11,098 Foreign currency option contract — 39 39 Interest rate swap contract — 713 713 Liabilities: Aluminum hedging contract 6 6 March 2, 2024 Assets: Money market funds $ 26,529 $ — $ 26,529 Municipal and corporate bonds — 10,905 10,905 Foreign currency option contract — 3 3 Interest rate swap contract — 1,292 1,292 Liabilities: Aluminum hedging contract — 529 529

Debt

Debt	9 Months Ended
	Nov. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt On July 19, 2024, we entered into a Credit Agreement (the Credit Agreement) with Bank of America, N.A., as administrative agent, and other lenders. The Credit Agreement provides for an unsecured senior credit facility in an aggregate principal amount of up to $700.0 million, in which commitments were made through a $450.0 million, five-year revolving credit facility and a committed $250.0 million delayed draw term loan facility. Borrowings under the revolving credit facility can be in Canadian dollars (CAD) limited to $25.0 million USD. The term loan facility may be utilized in up to two drawdowns, which are available to be made within one year after the closing date. The senior credit facility has a term of five years with a maturity date of July 19, 2029. The Credit Agreement replaces the previous revolving credit facility with Wells Fargo Bank, N.A., as administrative agent, and other lenders, with maximum borrowings up to $385.0 million, and the two Canadian credit facilities with Bank of Montreal totaling $25.0 million USD. Outstanding borrowings under the previous revolving credit facility were $50.0 million as of March 2, 2024. We had no outstanding borrowings under the Canadian facilities as of March 2, 2024. As a result of the execution of the Credit Agreement, in the second quarter of fiscal 2025, we recognized a loss on extinguishment of debt within interest expense of $0.5 million for the write-off of unamortized financing fees related to the previous revolving credit facility. Additionally, we capitalized $3.0 million of lender fees and $0.8 million of third-party fees incurred in connection with the Credit Agreement, which were recorded as other non-current assets and will be amortized over the term of the credit facility as interest expense. The Credit Agreement contains two maintenance financial covenants that require our Consolidated Leverage Ratio (as defined in the Credit Agreement) to be less than 3.50 and our Consolidated Interest Coverage Ratio (as defined in the Credit Agreement) to exceed 3.00. At November 30, 2024, we were in compliance with all covenants as defined under the terms of the Credit Agreement. The Credit Agreement also contains an acquisition “holiday.” In the event we make an acquisition for which the purchase price is greater than $75 million, we can elect to increase the maximum Consolidated Leverage Ratio (as defined in the Credit Agreement) to 4.00 for a period of four consecutive fiscal quarters, commencing with the fiscal quarter in which a qualifying acquisition occurs. No more than two acquisition holidays can occur during the term of the Credit Agreement, and at least two fiscal quarters must separate qualifying acquisitions. Borrowings under the Credit Agreement bear floating interest at either the Base Rate or Term Secured Overnight Financing Rate (SOFR), or, for CAD borrowings, Canadian Overnight Repo Rate Average (CORRA) plus, in each a margin based on the Consolidated Leverage Ratio (as defined in the Credit Agreement). For Base Rate borrowings, the margin ranges from 0.25% to 0.75%. For Term SOFR and CORRA borrowings, the margin ranges from 1.25% to 1.75%, with an incremental Term SOFR and CORRA adjustment of 0.10% and 0.29547%, respectively. The Credit Agreement also contains an “accordion” provision. Under this provision, we can request that the senior credit facility be increased by unlimited additional amounts. Any lender may elect or decline to participate in the requested increase at their sole discretion. On November 4, 2024, as part of the acquisition of UW Interco, LLC (UW Solutions), and for working capital and general corporate purposes, we executed a drawdown against the delayed draw term loan facility for $250.0 million. Outstanding borrowings under the term loan facility were $230.0 million as of November 30, 2024. Outstanding borrowings under the revolving credit facility were $30.0 million as of November 30, 2024. At November 30, 2024, we had a total of $27.3 million of ongoing letters of credit related to the senior credit facility and industrial revenue bonds, construction contracts and insurance collateral that expire in fiscal years 2026 through 2032 and reduce borrowing capacity under the revolving credit facility. As of November 30, 2024, the amount available for revolving borrowings was $405.0 million. At November 30, 2024, debt included $12.0 million of industrial revenue bonds that mature in fiscal years 2036 through 2043. The fair value of our senior credit facility and industrial revenue bonds approximated carrying values at November 30, 2024, and would be classified as Level 2 within the fair value hierarchy described in Note 4, due to the variable interest rates on these instruments. Three Months Ended Nine Months Ended (In thousands) November 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Interest on debt $ 2,077 $ 2,000 $ 4,590 $ 7,171 Interest rate swap gain (223) (236) (695) (656) Other interest expense 38 274 653 352 Interest income $ (848) $ (584) $ (1,914) $ (1,147) Interest expense, net $ 1,044 $ 1,454 $ 2,634 $ 5,720 Interest payments under the credit facilities were $3.5 million and $7.5 million for the nine months ended November 30, 2024 and November 25, 2023, respectively. The weighted average interest rates on borrowings outstanding, inclusive of the impact of our interest rate swap as of November 30, 2024 and March 2, 2024 were 5.6% and 4.9%, respectively.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Nov. 30, 2024
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 30, 2024, $1.2 billion of these types of bonds were outstanding, of which $307.2 million is in our backlog. These bonds have expiration dates that align with completion of the sales order or contract. 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 changes in manufacturing quality, changes in product mix, and any significant changes in sales volume. Nine Months Ended (In thousands) November 30, 2024 Balance at beginning of period $ 21,362 Additions charged to costs and expenses 6,795 Deductions from reserve, net of recoveries (8,438) Balance at end of period $ 19,719 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 in certain parts of our Architectural Framing Systems Segment. We manage the risk of these exposures through contract negotiations, proactive project management and insurance coverages. Letters of credit At November 30, 2024, we had $27.3 million of ongoing letters of credit as discussed in Note 5. Purchase obligations Purchase obligations for raw material commitments and capital expenditures totaled $20.0 million as of November 30, 2024. New Markets Tax Credit (NMTC) transactions We have two outstanding NMTC arrangements which help to support operational expansion. Proceeds received from investors on these transactions are included within other 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 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. As a result of the structure of these transactions, variable-interest entities were created. As the other investors in these programs do not have a material interest in the entities' underlying economics, we include 100% of the results of the variable-interest entities in our consolidated financial statements. The table below provides a summary of estimated benefits related to our outstanding NMTC transactions (in thousands): Inception date Termination date Deferred Benefit Deferred costs Net benefit May 2022 (1) August 2025 $ 6,052 $ 1,875 $ 4,177 September 2018 September 2025 $ 3,198 $ 1,031 $ 2,167 Total $ 9,250 $ 2,906 $ 6,344 (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 has appealed 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.

Supplier Finance Program Obliga

Supplier Finance Program Obligations	9 Months Ended
	Nov. 30, 2024
Payables and Accruals [Abstract]
Supplier Finance Program Obligations	Supplier Finance Program Obligations In the first quarter of fiscal 2024, we implemented a supplier financing arrangement that enables select suppliers, at their sole discretion, to sell our receivables (i.e., our payment obligations to the suppliers) on a non-recourse basis in order to be paid earlier than our payment terms provide. These suppliers’ voluntary inclusion of invoices in the supplier financing arrangement has no bearing on our payment terms, the amounts we pay, or our liquidity. We have no economic interest in the supplier’s decision to participate in the supplier financing program, and we do not provide any guarantees in connection with it. The balances owed are reflected in accounts payable in the consolidated balance sheets and are reflected in net cash provided by operating activities in our consolidated statements of cash flows when settled. The following table summarizes the obligation activity for the nine months ended November 30, 2024 and outstanding balance as of November 30, 2024 that we have confirmed as valid to the administrators of our program: (In thousands) November 30, 2024 Balance at beginning of period $ 6,527 Obligations added to the program 35,881 Obligations settled (34,612) Balance at end of period $ 7,796

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Nov. 30, 2024
Equity [Abstract]
Stockholders' Equity	Shareholders' Equity We paid dividends totaling $16.2 million ($0.75 per share) in the first nine months of fiscal 2025, compared to dividends paid of $15.7 million ($0.72 per share) in the comparable prior year period. During fiscal 2004, the Board of Directors authorized a share repurchase program allowing us to repurchase shares of our outstanding common stock, with subsequent increases in authorization. During the nine-months ended November 30, 2024, we repurchased 241,573 shares under the program, for a total cost of $15.1 million, inclusive of the applicable excise tax. During the nine-months ended November 25, 2023, we repurchased 279,916 shares under the program, for a total cost of $11.8 million. We have repurchased a total of 11,518,090 shares, at a total cost of $408.5 million, since the inception of this program in fiscal 2004. We have remaining authority to repurchase 2,731,910 shares under this program, which has no expiration date. We may also elect to repurchase additional shares of common stock under our authorization, subject to limitations contained in our debt agreements and based upon our assessment of a number of factors, including share price, trading volume and general market conditions, working capital requirements, general business conditions, financial conditions, any applicable contractual limitations, and other factors, including alternative investment opportunities. We may finance share repurchases with available cash, additional debt or other sources of financing.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Nov. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation As part of our compensation structure, we grant stock-based compensation awards to certain employees and non-employee directors during the fiscal year. These awards may be in the form of incentive stock options (to employees only), restricted stock awards and restricted stock units, and performance share unit awards, all of which are granted at a price or with an exercise price equal to the fair market value of the Company’s stock at the date of award, unless the date of the award is on a day the Nasdaq Stock Market is not open for trading, then the exercise price shall equal the fair market value on the most recent preceding date when such market is open. The table below sets forth the number of stock-based compensation awards granted during the nine-months ended November 30, 2024, along with the weighted average grant date fair value: Awards Number of Awards Weighted Average Grant Date Fair Value Restricted stock awards and restricted stock units (1) 127,117 $ 63.45 Performance share units (2) 37,151 $ 62.78 (1) Represent service condition awards which generally vest over a two three (2) Represent performance condition awards with the grant equal to the target number of performance shares based on the share price at grant date. These grants allow for the right to receive a variable number of shares, between 0% and 200% of target, dependent on being employed at the end of the performance period and achieving defined performance goals for average return on invested capital and cumulative earnings per share. Total share-based compensation expense included in the results of operations was $2.4 million and $2.2 million for the three-month periods ended November 30, 2024 and November 25, 2023, respectively and $8.1 million and $6.6 million for the nine-month periods ended November 30, 2024 and November 25, 2023, respectively. At November 30, 2024, there was $14.2 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 nine-months ended November 30, 2024 was $9.5 million.

Income Taxes

Income Taxes	9 Months Ended
	Nov. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We file income tax returns in the U.S. federal jurisdiction, various U.S. state and local jurisdictions, Canada, Brazil, and other international jurisdictions. We are not subject to U.S. federal tax examinations for years prior to fiscal 2021, or state and local income tax examinations for years prior to fiscal 2020. We are not currently under U.S. federal examination for years subsequent to fiscal year 2020, and there is very limited audit activity of our income tax returns in U.S. state jurisdictions or international jurisdictions. For interim periods, our income tax expense and resulting effective tax rate are based upon an estimated annual effective tax rate adjusted for the effects of items required to be treated as discrete to the period, including changes in tax laws, changes in estimated exposures for uncertain tax positions and other items. For the three-months ended November 30, 2024, income tax expense as a percentage of earnings before income tax was 24.1%, compared to 23.6% for the same period last year. For the nine-months ended November 30, 2024, income tax expense as a percentage of earnings before income tax was 24.8%, compared to 23.7% for the same period last year. The change in the effective tax rate for both the three- and nine-month periods was primarily due to an increase in tax expense for discrete items.

Earnings per Share

Earnings per Share	9 Months Ended
	Nov. 30, 2024
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 (diluted EPS): Three Months Ended Nine Months Ended (In thousands) November 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Basic earnings per share – weighted average common shares outstanding 21,782 21,819 21,789 21,889 Weighted average effect of nonvested share grants and assumed exercise of stock options 135 194 148 204 Diluted earnings per share – weighted average common shares and potential common shares outstanding 21,917 22,013 21,937 22,093 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) 1 37 18 56

Business Segment Data

Business Segment Data	9 Months Ended
	Nov. 30, 2024
Segment Reporting [Abstract]
Business Segment Data	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 Glass Segment coats and fabricates high-performance glass used in custom window and wall systems on non-residential 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 Large-Scale Optical (LSO) Segment manufactures high-performance coated substrate products for the custom framing, fine and graphic art, industrial flooring and engineered optics markets. Segment net sales is defined as net sales for a certain segment and includes revenue related to intersegment transactions. We report net sales intersegment eliminations separately to exclude these sales from our consolidated total. Segment operating income is equal to net sales, less cost of goods sold, SG&A expenses, and any asset impairment charges associated with the segment. Segment operating income includes operating income related to intersegment sales transactions and excludes certain corporate costs that are not allocated at a segment level. We report these unallocated corporate costs in Corporate and Other. Operating income does not include other income or expense, interest expense or income tax expense. Three Months Ended Nine Months Ended (In thousands) November 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Segment net sales Architectural Framing Systems $ 138,039 $ 139,585 $ 412,561 $ 462,548 Architectural Glass 70,236 90,964 247,040 282,262 Architectural Services 104,921 94,662 301,966 272,144 Large-Scale Optical 33,196 26,009 74,232 72,110 Intersegment eliminations (5,048) (11,506) (20,499) (33,962) Net sales $ 341,344 $ 339,714 $ 1,015,300 $ 1,055,102 Segment operating income (loss) Architectural Framing Systems $ 12,710 $ 16,981 $ 48,187 $ 57,986 Architectural Glass 10,118 15,164 48,277 49,119 Architectural Services 9,730 5,288 21,483 8,211 Large-Scale Optical 4,842 7,100 13,481 17,288 Corporate and Other (8,771) (6,886) (19,453) (20,637) Operating income $ 28,629 $ 37,647 $ 111,975 $ 111,967 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.

Acquisitions

Acquisitions	9 Months Ended
	Nov. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions On November 4, 2024, we completed the acquisition of UW Solutions for $241.8 million in cash. UW Solutions is a U.S. based, vertically integrated manufacturer of high-performance coated substrates with a portfolio of well-known brands, including ResinDEK®, ChromaLuxe®, RDC Coatings™, and Unisub®, each known as a leader in its specified applications. The UW Solutions business activity is included in our Large-Scale Optical Segment. The total purchase consideration was $233.1 million in cash, net of a preliminary net working capital adjustment of $1.8 million and cash acquired of $8.7 million. The acquisition was funded with cash on hand and borrowings under our existing credit agreement. During the third quarter of fiscal 2025, we incurred pre-tax acquisition-related expenses of $5.9 million associated with the UW Solutions acquisition. We incurred $0.4 million for inventory step-up expense which was included in costs of sales as well as $3.7 million of transaction costs, $0.9 million of integration costs, and $0.8 million of amortization of acquired backlog, which was included in SG&A within our consolidated results of operations. We accounted for the acquisition as a purchase of a business and recorded the excess of the purchase price over the estimated fair value of the assets acquired and liabilities assumed as goodwill of $106.3 million. The goodwill recognized is attributable primarily to expected synergies by integrating UW Solutions into our Large-Scale Optical Segment and by creating a scalable growth platform in the specialty coatings and materials market. The goodwill is expected to be amortized and deductible for income tax purposes. We have provisionally determined the appropriate fair values of the acquired intangible assets and completed our analysis of the economic lives of the assets acquired. We assigned $21.0 million to tradenames and are amortizing over a 15-year expected life. We assigned $3.2 million to contract backlog and are amortizing over a 4-month expected life. We assigned $47.4 million to customer relationships and are amortizing a portion over a 10-year expected life and the remainder over a 15-year expected life, based on historical customer attrition rates. We assigned $7.8 million to developed technology and are amortizing over a 7.5-year The following table presents the preliminary estimated fair values of assets acquired and liabilities assumed at the acquisition date: (In thousands) Assets: Cash and cash equivalents $ 8,703 Receivables, net 12,673 Inventories, net 19,805 Other current assets 1,335 Property, plant, and equipment 27,701 Operating lease right-of-use assets 14,268 Intangible assets 79,420 Goodwill 106,264 Other non-current assets 166 Total Assets $ 270,335 Liabilities: Accounts payable 5,032 Accrued compensation and benefits 6,767 Operating lease liabilities 1,447 Other current liabilities 1,287 Non-current operating lease liabilities 14,030 Total Liabilities $ 28,563 Net assets recorded $ 241,772 The impact of the acquisition of UW Solutions on our consolidated results of operations for the three and nine-month periods ended on November 30, 2024 was $8.8 million of net sales and $4.2 million net loss, respectively. The net sales and net loss represent approximately four weeks of operating results, transaction and integration-related costs, interest and the net tax effect. The following supplemental unaudited pro forma information presents our financial results as if the acquisition of UW Solutions had occurred on February 26, 2023. This supplemental pro forma information has been prepared for comparative purposes and would not necessarily indicate what may have occurred if the acquisition had been completed on February 26, 2023, and this information is not intended to be indicative of future results. (in thousands, except earnings per share data) (Unaudited) Three Months Ended Nine Months Ended November 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Net sales $ 359,904 $ 368,243 $ 1,077,941 $ 1,131,489 Net earnings 25,364 26,951 84,804 71,890 Earnings per share: Basic 1.16 1.24 3.89 3.28 Diluted 1.16 1.22 3.86 3.25 Nonrecurring charges of $3.7 million of transaction costs, $0.9 million of integration costs, $0.8 million of amortization of acquired backlog, and $0.4 million of inventory step-up expense incurred in the third quarter of fiscal 2025 are reflected as if those charges were incurred in the first quarter of fiscal 2024 supplemental pro forma earnings. These amounts have been calculated after applying our accounting policies and adjusting the results of UW Solutions to reflect the effect of definite-lived intangible assets recognized as part of the business combination on amortization expense as if the acquisition had occurred on February 26, 2023.

Restructuring

Restructuring	9 Months Ended
	Nov. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the fourth quarter of fiscal 2024, we announced strategic actions to further streamline our business operations, enable a more efficient cost model, and better position the Company for profitable growth (referred to as “Project Fortify”). Project Fortify primarily impacts the Architectural Framing Systems Segment and includes: • Eliminating certain lower-margin product and service offerings, enabling consolidation into a single operating entity. • Transferring production operations from the Company’s facility in Walker, Michigan, to the Company’s facilities in Monett, Missouri and Wausau, Wisconsin. • Simplifying the segment’s brand portfolio and commercial model to improve flexibility, better leverage the Company’s capabilities, and enhance customer service. Additionally, the Company has implemented similar actions to optimize processes and streamline resources in its Architectural Services Segment and Corporate and Other. During the third quarter of fiscal 2025, we incurred $0.9 million of pre-tax costs associated with Project Fortify, which included $(0.1) million within cost of sales and $1.0 million included within SG&A expenses. During the first nine-months of fiscal 2025, we incurred $3.2 million of pre-tax costs associated with Project Fortify, of which $1.3 million was included within cost of sales and $1.9 million was included within SG&A expenses. Since announcing Project Fortify, we have incurred $15.6 million of pre-tax costs. The Company now expects these restructuring actions to be substantially complete by the end of the fourth quarter of fiscal 2025 and expects to incur total pre-tax charges of approximately $16.0 million to $17.0 million. Total Project Fortify restructuring charges are expected to include: • Approximately $7.0 million of severance and employee related costs; • Approximately$1.7 million of contract termination costs; and • $7.5 million to $8.5 million of other expenses. The Company expects that these actions will lead to annualized cost savings of $13 million to $14 million. Three Months Ended November 30, 2024 (In thousands) Architectural Framing Architectural Services Corporate & Other Total Termination benefits $ 387 $ (764) $ 787 $ 410 Other restructuring charges 455 47 — 502 Total restructuring charges $ 842 $ (717) $ 787 $ 912 Nine Months Ended November 30, 2024 (In thousands) Architectural Framing Architectural Services Corporate & Other Total Termination benefits $ 960 $ (592) $ 917 $ 1,285 Contract termination costs 108 — — 108 Other restructuring charges 1,687 133 — 1,820 Total restructuring charges $ 2,755 $ (459) $ 917 $ 3,213 The following table summarizes our restructuring related accrual balances included within accrued payroll and related benefits and other current liabilities in the consolidated balance sheets. All remaining accrual balances are expected to be paid within fiscal 2025. (In thousands) Architectural Framing Architectural Services Corporate & Other Total Balance at March 2, 2024 $ 2,814 $ 2,067 $ 56 $ 4,937 Restructuring expense 1,090 (764) 912 1,238 Payments (3,829) (518) (180) (4,527) Other adjustments 778 — — 778 Balance at November 30, 2024 $ 853 $ 785 $ 788 $ 2,426 The charges presented in the roll forward of our restructuring accruals do not include items charged directly to expense as incurred, as those items are not reflected in accrued payroll and related benefits and other current liabilities in the consolidated balance sheets.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Nov. 30, 2024	Aug. 31, 2024	Jun. 01, 2024	Nov. 25, 2023	Aug. 26, 2023	May 27, 2023	Nov. 30, 2024	Nov. 25, 2023
Pay vs Performance Disclosure
Net earnings	$ 20,989	$ 30,566	$ 31,011	$ 26,974	$ 33,327	$ 23,576	$ 82,566	$ 83,877

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Nov. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Nov. 30, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The consolidated financial statements of Apogee Enterprises, Inc. (we, us, our or the Company) have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP). 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, 2024. 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 30, 2024 are not necessarily indicative of the results to be expected for the full year.
New accounting standards	New accounting standards In November 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which expands the required disclosure for reportable segments. This guidance requires entities to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all segment disclosures which are currently required annually. This ASU additionally requires entities to disclose the title and position of the individual or the name of the group or committee identified as its chief operating decision-maker. Such guidance, which is required to be applied retrospectively, is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, although early adoption is permitted. While the adoption of this ASU will not have an impact on our financial position and/or results of operations, we are currently evaluating the impact to our segment disclosures for the year ended March 1, 2025 and future interim periods. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, intended to enhance the transparency and decision-usefulness of income tax disclosures. Such guidance requires entities to provide additional information within their income tax rate reconciliation, including further disclosure of federal, state, and foreign income taxes and to provide more details about these reconciling items if a quantitative threshold is met. This guidance additionally requires expanded disclosure of income taxes paid, including amounts paid for federal, state, and foreign taxes. This ASU, which is required to be applied prospectively, is effective for fiscal years beginning after December 15, 2024, although early adoption and retrospective application is permitted. While the adoption of this ASU will not have an impact on our financial position and/or results of operations, we are currently evaluating the impact on our income tax disclosures, including the processes and controls around the collection of this information. In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses. This guidance requires entities to disclose more detailed information about the types of expenses, including purchases of inventory, employee compensation, depreciation, amortization, and depletion in commonly presented expense captions such as cost of sales and selling, general and administrative (SG&A) expenses. Such guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, although early adoption is permitted. This guidance should be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the financial statements. While the adoption of this ASU will not have an impact on our financial position and/or results of operations, we are currently evaluating the impact this ASU may have on our consolidated financial statement disclosures, including the processes and controls around the collection of this information.

Revenue, Receivables and Cont_2

Revenue, Receivables and Contract Assets and Liabilities (Tables)	9 Months Ended
	Nov. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregates Total Revenue by Timing of Recognition	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 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Recognized at shipment $ 150,704 $ 144,910 $ 427,945 $ 449,805 Recognized over time (input method) 125,451 115,345 360,815 356,996 Recognized over time (output method) 65,189 79,459 226,540 248,301 Total $ 341,344 $ 339,714 $ 1,015,300 $ 1,055,102
Schedule of Receivables	(In thousands) November 30, 2024 March 2, 2024 Trade accounts $ 121,329 $ 115,061 Construction contracts 68,953 61,879 Total receivables 190,282 176,940 Less: allowance for credit losses 2,483 3,383 Receivables, net $ 187,799 $ 173,557
Schedule of Allowance for Credit Losses	The following table summarizes the activity in the allowance for credit losses for the nine-month period ended: (In thousands) November 30, 2024 Beginning balance $ 3,383 Credits charged to costs and expenses (1,412) Deductions from allowance, net of recoveries (72) Allowance for credit losses from acquisitions 607 Other adjustments (23) Ending balance $ 2,483
Schedule of Other Contract-Related Disclosures	Other contract-related disclosures Three Months Ended Nine Months Ended (In thousands) November 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Revenue recognized related to contract liabilities from prior year-end $ 399 $ 191 $ 30,760 $ 25,147 Revenue recognized related to prior satisfaction of performance obligations 4,129 730 12,295 5,634
Schedule of Performance Obligations Expected to be Satisfied	The transaction prices associated with unsatisfied performance obligations at November 30, 2024 are expected to be satisfied, and the corresponding revenue to be recognized, over the following estimated time periods: (In thousands) November 30, 2024 Within one year $ 530,834 Between one and two years 261,463 Beyond two years 88,030 Total $ 880,327

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Nov. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories (In thousands) November 30, 2024 March 2, 2024 Raw materials $ 37,871 $ 31,363 Work-in-process 17,504 12,291 Finished goods 41,628 25,586 Total inventories, net $ 97,003 $ 69,240

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Nov. 30, 2024
Marketable Securities [Abstract]
Schedule of Available-for-Sale Marketable Securities	Through our wholly-owned insurance subsidiary, Prism Assurance, Ltd. (Prism), we hold the following available-for-sale marketable securities, made up of fixed-maturity investments: (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated November 30, 2024 $ 11,444 $ 43 $ 389 $ 11,098 March 2, 2024 11,327 15 437 10,905
Schedule of Amortized Cost and Estimated Fair Values of Investments by Contractual Maturity	The amortized cost and estimated fair values of these investments at November 30, 2024, 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 $ 4,081 $ 3,971 Due after one year through five years 7,363 7,127 Total $ 11,444 $ 11,098
Schedule of Fair Value Measurements	(In thousands) Quoted Prices in Other Observable Inputs (Level 2) Total Fair Value November 30, 2024 Assets: Money market funds $ 25,010 $ — $ 25,010 Municipal and corporate bonds — 11,098 11,098 Foreign currency option contract — 39 39 Interest rate swap contract — 713 713 Liabilities: Aluminum hedging contract 6 6 March 2, 2024 Assets: Money market funds $ 26,529 $ — $ 26,529 Municipal and corporate bonds — 10,905 10,905 Foreign currency option contract — 3 3 Interest rate swap contract — 1,292 1,292 Liabilities: Aluminum hedging contract — 529 529

Debt (Tables)

Debt (Tables)	9 Months Ended
	Nov. 30, 2024
Debt Disclosure [Abstract]
Schedule Of Interest Expense	Three Months Ended Nine Months Ended (In thousands) November 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Interest on debt $ 2,077 $ 2,000 $ 4,590 $ 7,171 Interest rate swap gain (223) (236) (695) (656) Other interest expense 38 274 653 352 Interest income $ (848) $ (584) $ (1,914) $ (1,147) Interest expense, net $ 1,044 $ 1,454 $ 2,634 $ 5,720

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Nov. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Guarantees and warranties	Nine Months Ended (In thousands) November 30, 2024 Balance at beginning of period $ 21,362 Additions charged to costs and expenses 6,795 Deductions from reserve, net of recoveries (8,438) Balance at end of period $ 19,719
Schedule of Estimated Benefits Related to our Outstanding NMTC Transactions	The table below provides a summary of estimated benefits related to our outstanding NMTC transactions (in thousands): Inception date Termination date Deferred Benefit Deferred costs Net benefit May 2022 (1) August 2025 $ 6,052 $ 1,875 $ 4,177 September 2018 September 2025 $ 3,198 $ 1,031 $ 2,167 Total $ 9,250 $ 2,906 $ 6,344 (1) Continuation of the August 2018 NMTC financing transaction

Supplier Finance Program Obli_2

Supplier Finance Program Obligations (Tables)	9 Months Ended
	Nov. 30, 2024
Payables and Accruals [Abstract]
Schedule of Obligation Activity and Outstanding Balances	The following table summarizes the obligation activity for the nine months ended November 30, 2024 and outstanding balance as of November 30, 2024 that we have confirmed as valid to the administrators of our program: (In thousands) November 30, 2024 Balance at beginning of period $ 6,527 Obligations added to the program 35,881 Obligations settled (34,612) Balance at end of period $ 7,796

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Nov. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Awards Granted and Weighted Average Grant Date Fair Value	The table below sets forth the number of stock-based compensation awards granted during the nine-months ended November 30, 2024, along with the weighted average grant date fair value: Awards Number of Awards Weighted Average Grant Date Fair Value Restricted stock awards and restricted stock units (1) 127,117 $ 63.45 Performance share units (2) 37,151 $ 62.78 (1) Represent service condition awards which generally vest over a two three (2) Represent performance condition awards with the grant equal to the target number of performance shares based on the share price at grant date. These grants allow for the right to receive a variable number of shares, between 0% and 200% of target, dependent on being employed at the end of the performance period and achieving defined performance goals for average return on invested capital and cumulative earnings per share.

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Nov. 30, 2024
Earnings Per Share [Abstract]
Schedule 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 (diluted EPS): Three Months Ended Nine Months Ended (In thousands) November 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Basic earnings per share – weighted average common shares outstanding 21,782 21,819 21,789 21,889 Weighted average effect of nonvested share grants and assumed exercise of stock options 135 194 148 204 Diluted earnings per share – weighted average common shares and potential common shares outstanding 21,917 22,013 21,937 22,093 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) 1 37 18 56

Business Segment Data (Tables)

Business Segment Data (Tables)	9 Months Ended
	Nov. 30, 2024
Segment Reporting [Abstract]
Schedule of Sales and Operating Income (Loss)	Three Months Ended Nine Months Ended (In thousands) November 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Segment net sales Architectural Framing Systems $ 138,039 $ 139,585 $ 412,561 $ 462,548 Architectural Glass 70,236 90,964 247,040 282,262 Architectural Services 104,921 94,662 301,966 272,144 Large-Scale Optical 33,196 26,009 74,232 72,110 Intersegment eliminations (5,048) (11,506) (20,499) (33,962) Net sales $ 341,344 $ 339,714 $ 1,015,300 $ 1,055,102 Segment operating income (loss) Architectural Framing Systems $ 12,710 $ 16,981 $ 48,187 $ 57,986 Architectural Glass 10,118 15,164 48,277 49,119 Architectural Services 9,730 5,288 21,483 8,211 Large-Scale Optical 4,842 7,100 13,481 17,288 Corporate and Other (8,771) (6,886) (19,453) (20,637) Operating income $ 28,629 $ 37,647 $ 111,975 $ 111,967

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Nov. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed	The following table presents the preliminary estimated fair values of assets acquired and liabilities assumed at the acquisition date: (In thousands) Assets: Cash and cash equivalents $ 8,703 Receivables, net 12,673 Inventories, net 19,805 Other current assets 1,335 Property, plant, and equipment 27,701 Operating lease right-of-use assets 14,268 Intangible assets 79,420 Goodwill 106,264 Other non-current assets 166 Total Assets $ 270,335 Liabilities: Accounts payable 5,032 Accrued compensation and benefits 6,767 Operating lease liabilities 1,447 Other current liabilities 1,287 Non-current operating lease liabilities 14,030 Total Liabilities $ 28,563 Net assets recorded $ 241,772
Schedule of Supplemental Unaudited Pro Forma Information	The following supplemental unaudited pro forma information presents our financial results as if the acquisition of UW Solutions had occurred on February 26, 2023. This supplemental pro forma information has been prepared for comparative purposes and would not necessarily indicate what may have occurred if the acquisition had been completed on February 26, 2023, and this information is not intended to be indicative of future results. (in thousands, except earnings per share data) (Unaudited) Three Months Ended Nine Months Ended November 30, 2024 November 25, 2023 November 30, 2024 November 25, 2023 Net sales $ 359,904 $ 368,243 $ 1,077,941 $ 1,131,489 Net earnings 25,364 26,951 84,804 71,890 Earnings per share: Basic 1.16 1.24 3.89 3.28 Diluted 1.16 1.22 3.86 3.25

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Nov. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring	Three Months Ended November 30, 2024 (In thousands) Architectural Framing Architectural Services Corporate & Other Total Termination benefits $ 387 $ (764) $ 787 $ 410 Other restructuring charges 455 47 — 502 Total restructuring charges $ 842 $ (717) $ 787 $ 912 Nine Months Ended November 30, 2024 (In thousands) Architectural Framing Architectural Services Corporate & Other Total Termination benefits $ 960 $ (592) $ 917 $ 1,285 Contract termination costs 108 — — 108 Other restructuring charges 1,687 133 — 1,820 Total restructuring charges $ 2,755 $ (459) $ 917 $ 3,213
Schedule of Restructuring Reserve	The following table summarizes our restructuring related accrual balances included within accrued payroll and related benefits and other current liabilities in the consolidated balance sheets. All remaining accrual balances are expected to be paid within fiscal 2025. (In thousands) Architectural Framing Architectural Services Corporate & Other Total Balance at March 2, 2024 $ 2,814 $ 2,067 $ 56 $ 4,937 Restructuring expense 1,090 (764) 912 1,238 Payments (3,829) (518) (180) (4,527) Other adjustments 778 — — 778 Balance at November 30, 2024 $ 853 $ 785 $ 788 $ 2,426

Revenue, Receivables and Cont_3

Revenue, Receivables and Contract Assets and Liabilities - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024	Nov. 25, 2023
Disaggregation of Revenue [Line Items]
Total	$ 341,344	$ 339,714	$ 1,015,300	$ 1,055,102
Recognized at shipment
Disaggregation of Revenue [Line Items]
Total	150,704	144,910	427,945	449,805
Recognized over time (input method)
Disaggregation of Revenue [Line Items]
Total	125,451	115,345	360,815	356,996
Recognized over time (output method)
Disaggregation of Revenue [Line Items]
Total	$ 65,189	$ 79,459	$ 226,540	$ 248,301

Revenue, Receivables and Cont_4

Revenue, Receivables and Contract Assets and Liabilities Accounts - Receivable (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Mar. 02, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 190,282	$ 176,940
Less: allowance for credit losses	2,483	3,383
Receivables, net	187,799	173,557
Trade accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	121,329	115,061
Construction contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 68,953	$ 61,879

Revenue, Receivables and Cont_5

Revenue, Receivables and Contract Assets and Liabilities - Allowance for Credit Losses (Details) $ in Thousands	9 Months Ended
	Nov. 30, 2024 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 3,383
Credits charged to costs and expenses	(1,412)
Deductions from allowance, net of recoveries	(72)
Allowance for credit losses from acquisitions	607
Other adjustments	(23)
Ending balance	$ 2,483

Revenue, Receivables and Cont_6

Revenue, Receivables and Contract Assets and Liabilities - Other Contract-Related Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024	Nov. 25, 2023
Revenue from Contract with Customer [Abstract]
Revenue recognized related to contract liabilities from prior year-end	$ 399	$ 191	$ 30,760	$ 25,147
Revenue recognized related to prior satisfaction of performance obligations	$ 4,129	$ 730	$ 12,295	$ 5,634

Revenue, Receivables and Cont_7

Revenue, Receivables and Contract Assets and Liabilities - Other contract-related disclosures (Details) $ in Thousands	Nov. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue to be recognized	$ 880,327
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	1 year
Revenue to be recognized	$ 530,834
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-11-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	2 years
Revenue to be recognized	$ 261,463
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-11-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	2 years
Revenue to be recognized	$ 88,030

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Mar. 02, 2024
Inventory Disclosure [Abstract]
Raw materials	$ 37,871	$ 31,363
Work-in-process	17,504	12,291
Finished goods	41,628	25,586
Total inventories, net	$ 97,003	$ 69,240

Financial Instruments - Schedul

Financial Instruments - Schedule of Available-for-Sale Marketable Securities (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Mar. 02, 2024
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 11,444
Estimated Fair Value	11,098
Municipal and Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	11,444	$ 11,327
Gross Unrealized Gains	43	15
Gross Unrealized Losses	389	437
Estimated Fair Value	$ 11,098	$ 10,905

Financial Instruments - Sched_2

Financial Instruments - Schedule of Amortized Cost and Estimated Fair Values of Investments by Contractual Maturity (Details) $ in Thousands	Nov. 30, 2024 USD ($)
Amortized Cost
Due within one year	$ 4,081
Due after one year through five years	7,363
Total	11,444
Estimated Fair Value
Due within one year	3,971
Due after one year through five years	7,127
Total	$ 11,098

Financial Instruments - Additio

Financial Instruments - Additional Information (Details) - Designated as Hedging Instrument $ in Millions	Nov. 30, 2024 USD ($)
Interest rate swap contract
Derivatives, Fair Value [Line Items]
Notional value	$ 30
Aluminum hedging contract
Derivatives, Fair Value [Line Items]
Notional value	0.2
Foreign currency option contract
Derivatives, Fair Value [Line Items]
Notional value	$ 0.8

Financial Instruments -Schedule

Financial Instruments -Schedule of Fair Value Measurements (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Mar. 02, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 25,010	$ 26,529
Municipal and corporate bonds	11,098	10,905
Foreign currency option contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	39	3
Interest rate swap contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	713	1,292
Aluminum hedging contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aluminum hedging contract	6	529
Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	25,010	26,529
Municipal and corporate bonds	0	0
Quoted Prices in Active Markets (Level 1) | Foreign currency option contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Quoted Prices in Active Markets (Level 1) | Interest rate swap contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Quoted Prices in Active Markets (Level 1) | Aluminum hedging contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aluminum hedging contract		0
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	11,098	10,905
Other Observable Inputs (Level 2) | Foreign currency option contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	39	3
Other Observable Inputs (Level 2) | Interest rate swap contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	713	1,292
Other Observable Inputs (Level 2) | Aluminum hedging contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aluminum hedging contract	$ 6	$ 529

Debt - Additional Information (

Debt - Additional Information (Details)			3 Months Ended	9 Months Ended
	Nov. 04, 2024 USD ($)	Jul. 19, 2024 USD ($) drawdown	Aug. 31, 2024 USD ($)	Nov. 30, 2024 USD ($) quarter acquisitionHoliday lineOfCredit	Nov. 25, 2023 USD ($)	Mar. 02, 2024 USD ($)
Line of Credit Facility [Line Items]
Loss on extinguishment of debt			$ 500,000
Maximum number of acquisition holidays | acquisitionHoliday				2
Number of quarters separating acquisition holidays | quarter				2
Letters of credit outstanding, amount				$ 27,300,000
Interest payments				$ 3,500,000	$ 7,500,000
Weighted average interest rates				5.60%		4.90%
Lender Fees
Line of Credit Facility [Line Items]
Capitalized fees			3,000,000
Third-Party Fees
Line of Credit Facility [Line Items]
Capitalized fees			$ 800,000
Line of Credit
Line of Credit Facility [Line Items]
Acquisition holiday				$ 75,000,000
Line of Credit | Minimum | Base Rate
Line of Credit Facility [Line Items]
Basis spread				0.25%
Line of Credit | Minimum | Term SOFR and CORRA
Line of Credit Facility [Line Items]
Basis spread				1.25%
Line of Credit | Minimum | Incremental Term SOFR and CORRA Adjustment
Line of Credit Facility [Line Items]
Basis spread				0.10%
Line of Credit | Maximum | Base Rate
Line of Credit Facility [Line Items]
Basis spread				0.75%
Line of Credit | Maximum | Term SOFR and CORRA
Line of Credit Facility [Line Items]
Basis spread				1.75%
Line of Credit | Maximum | Incremental Term SOFR and CORRA Adjustment
Line of Credit Facility [Line Items]
Basis spread				0.29547%
Line of Credit | Revolving credit facility
Line of Credit Facility [Line Items]
Outstanding borrowings				$ 30,000,000
Maximum debt-to-EBITDA ratio				3.50
Minimum ratio of EBITDA-to-interest expense				3
Amount of available commitment				$ 405,000,000
Line of Credit | Revolving credit facility | Acquisition Holiday Condition
Line of Credit Facility [Line Items]
Maximum debt-to-EBITDA ratio				4
Line of Credit | Revolving credit facility | Wells Fargo Bank, N.A.
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 385,000,000
Outstanding borrowings						$ 50,000,000
Line of Credit | Revolving credit facility | Bank of Montreal
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 25,000,000
Number of lines of credit | lineOfCredit				2
Line of Credit | Canadian Credit Facilities | Bank of Montreal
Line of Credit Facility [Line Items]
Outstanding borrowings						$ 0
Industrial Revenue Bonds
Line of Credit Facility [Line Items]
Debt				$ 12,000,000
Unsecured Senior Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 700,000,000
Debt instrument term		5 years
Unsecured Senior Credit Facility | Line of Credit | Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 450,000,000
Debt instrument term		5 years
Unsecured Senior Credit Facility | Line of Credit | Revolving Credit Facility - CAD
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 25,000,000
Unsecured Senior Credit Facility | Line of Credit | Term Loan Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 250,000,000		$ 230,000,000
Debt instrument term		1 year
Number of drawdowns | drawdown		2
Delayed draw term loan facility executed	$ 250,000,000

Debt - Schedule of Interest Exp

Debt - Schedule of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024	Nov. 25, 2023
Debt Disclosure [Abstract]
Interest on debt	$ 2,077	$ 2,000	$ 4,590	$ 7,171
Interest rate swap gain	(223)	(236)	(695)	(656)
Other interest expense	38	274	653	352
Interest income	(848)	(584)	(1,914)	(1,147)
Interest expense, net	$ 1,044	$ 1,454	$ 2,634	$ 5,720

Commitments and Contingent Li_3

Commitments and Contingent Liabilities - Additional Information (Details) $ in Millions	1 Months Ended
	Dec. 31, 2022 USD ($)	Nov. 30, 2024 USD ($) arrangement
Commitments and Contingencies Disclosure [Abstract]
Face value of performance bonds		$ 1,200
Companies backlog related to sales		307.2
Letters of credit outstanding, amount		27.3
Purchase obligations		$ 20
Number of new markets tax credit agreements | arrangement		2
Amount awarded to other party	$ 20

Commitments and Contingent Li_4

Commitments and Contingent Liabilities - Schedule of Guarantees and warranties (Details) $ in Thousands	9 Months Ended
	Nov. 30, 2024 USD ($)
Guarantees and warranties
Balance at beginning of period	$ 21,362
Additions charged to costs and expenses	6,795
Deductions from reserve, net of recoveries	(8,438)
Balance at end of period	$ 19,719

Commitments and Contingent Li_5

Commitments and Contingent Liabilities - Schedule of Estimated Benefits Related to our Outstanding NMTC Transactions (Details) $ in Thousands	9 Months Ended
	Nov. 30, 2024 USD ($)
Income Tax Contingency [Line Items]
Proceeds received	$ 9,250
Deferred costs	2,906
Net benefit	6,344
August 2025
Income Tax Contingency [Line Items]
Proceeds received	6,052
Deferred costs	1,875
Net benefit	4,177
September 2025
Income Tax Contingency [Line Items]
Proceeds received	3,198
Deferred costs	1,031
Net benefit	$ 2,167

Supplier Finance Program Obli_3

Supplier Finance Program Obligations (Details) $ in Thousands	9 Months Ended
	Nov. 30, 2024 USD ($)
Supplier Finance Program, Obligation [Roll Forward]
Balance at beginning of period	$ 6,527
Obligations added to the program	35,881
Obligations settled	(34,612)
Balance at end of period	$ 7,796

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended		21 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024
Class of Stock [Line Items]
Dividends paid	$ 16,238	$ 15,690
Dividends paid (in usd per share)	$ 0.75	$ 0.72
Share Repurchase Program
Class of Stock [Line Items]
Share repurchases (in shares)	241,573	279,916	11,518,090
Share repurchases, value	$ 15,100	$ 11,800	$ 408,500
Remaining shares authorized to be repurchased (in shares)	2,731,910,000		2,731,910,000

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Stock-Based Compensation Awards Granted and Weighted Average Grant Date Fair Value (Details)	9 Months Ended
	Nov. 30, 2024 $ / shares shares
Restricted stock awards and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares) | shares	127,117
Weighted Average Grant Date Fair Value (in usd per share) | $ / shares	$ 63.45
Restricted stock awards and restricted stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years
Restricted stock awards and restricted stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares) | shares	37,151
Weighted Average Grant Date Fair Value (in usd per share) | $ / shares	$ 62.78
Performance share units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target number of performance shares	0%
Performance share units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target number of performance shares	200%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024	Nov. 25, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 2,400	$ 2,200	$ 8,067	$ 6,644
Total unrecognized compensation cost related to nonvested share	$ 14,200		$ 14,200
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period			24 months
Total fair value of shares vested			$ 9,500

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024	Nov. 25, 2023	Mar. 02, 2024
Income Tax Disclosure [Abstract]
Income tax expense as a percentage of earnings before income taxes	24.10%	23.60%	24.80%	23.70%
Unrecognized tax benefits	$ 5.7		$ 5.7		$ 5.1

Earnings per Share (Details)

Earnings per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024	Nov. 25, 2023
Earnings Per Share [Abstract]
Basic earnings per share – weighted average common shares outstanding	21,782	21,819	21,789	21,889
Weighted average effect of nonvested share grants and assumed exercise of stock options	135	194	148	204
Diluted earnings per share – weighted average common shares and potential common shares outstanding	21,917	22,013	21,937	22,093
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)	1	37	18	56

Business Segment Data - Additio

Business Segment Data - Additional Information (Details)	9 Months Ended
	Nov. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Business Segment Data - Schedul

Business Segment Data - Schedule of Sales and Operating Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024	Nov. 25, 2023
Sales and operating income data
Segment net sales	$ 341,344	$ 339,714	$ 1,015,300	$ 1,055,102
Segment operating income (loss)	28,629	37,647	111,975	111,967
Intersegment eliminations
Sales and operating income data
Segment net sales	(5,048)	(11,506)	(20,499)	(33,962)
Architectural Framing Systems
Sales and operating income data
Segment operating income (loss)	12,710	16,981	48,187	57,986
Architectural Framing Systems | Operating Segments
Sales and operating income data
Segment net sales	138,039	139,585	412,561	462,548
Architectural Glass
Sales and operating income data
Segment operating income (loss)	10,118	15,164	48,277	49,119
Architectural Glass | Operating Segments
Sales and operating income data
Segment net sales	70,236	90,964	247,040	282,262
Architectural Services
Sales and operating income data
Segment operating income (loss)	9,730	5,288	21,483	8,211
Architectural Services | Operating Segments
Sales and operating income data
Segment net sales	104,921	94,662	301,966	272,144
Large-Scale Optical
Sales and operating income data
Segment operating income (loss)	4,842	7,100	13,481	17,288
Large-Scale Optical | Operating Segments
Sales and operating income data
Segment net sales	33,196	26,009	74,232	72,110
Corporate and Other
Sales and operating income data
Segment operating income (loss)	$ (8,771)	$ (6,886)	$ (19,453)	$ (20,637)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Nov. 04, 2024	Nov. 30, 2024	Nov. 30, 2024	Nov. 25, 2023	Mar. 02, 2024
Business Acquisition [Line Items]
Cash consideration			$ 233,125	$ 0
Goodwill		$ 234,814	234,814		$ 129,182
UW Interco, LLC
Business Acquisition [Line Items]
Consideration transferred	$ 241,800
Cash consideration	233,100
Net working capital adjustment	1,800
Cash acquired	8,700
Pre-tax acquisition-related expenses		5,900
Inventory step up expense		400
Transaction costs		3,700	3,700
Integration costs		900
Amortization of acquired backlog		800
Goodwill	106,264
Fair values of acquired intangible assets	79,420
Net sales		8,800	8,800
Net loss		$ 4,200	$ 4,200
UW Interco, LLC | Trade Names
Business Acquisition [Line Items]
Fair values of acquired intangible assets	$ 21,000
Expected life	15 years
UW Interco, LLC | Contract backlog
Business Acquisition [Line Items]
Fair values of acquired intangible assets	$ 3,200
Expected life	4 months
UW Interco, LLC | Customer Relationships
Business Acquisition [Line Items]
Fair values of acquired intangible assets	$ 47,400
UW Interco, LLC | Customer Relationships Portion One
Business Acquisition [Line Items]
Expected life	10 years
UW Interco, LLC | Customer Relationships Portion Two
Business Acquisition [Line Items]
Expected life	15 years
UW Interco, LLC | Developed Technology
Business Acquisition [Line Items]
Fair values of acquired intangible assets	$ 7,800
Expected life	7 years 6 months

Acquisitions - Schedule of Esti

Acquisitions - Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 04, 2024	Mar. 02, 2024
Assets:
Goodwill	$ 234,814		$ 129,182
UW Interco, LLC
Assets:
Cash and cash equivalents		$ 8,703
Receivables, net		12,673
Inventories, net		19,805
Other current assets		1,335
Property, plant, and equipment		27,701
Operating lease right-of-use assets		14,268
Intangible assets		79,420
Goodwill		106,264
Other non-current assets		166
Total Assets		270,335
Liabilities:
Accounts payable		5,032
Accrued compensation and benefits		6,767
Operating lease liabilities		1,447
Other current liabilities		1,287
Non-current operating lease liabilities		14,030
Total Liabilities		28,563
Net assets recorded		$ 241,772

Acquisitions - Schedule of Supp

Acquisitions - Schedule of Supplemental Unaudited Pro Forma Information (Details) - UW Interco, LLC - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2024	Nov. 25, 2023	Nov. 30, 2024	Nov. 25, 2023
Business Acquisition [Line Items]
Net sales	$ 359,904	$ 368,243	$ 1,077,941	$ 1,131,489
Net earnings	$ 25,364	$ 26,951	$ 84,804	$ 71,890
Earnings per share:
Basic (in usd per share)	$ 1.16	$ 1.24	$ 3.89	$ 3.28
Diluted (in usd per share)	$ 1.16	$ 1.22	$ 3.86	$ 3.25

Restructuring - Additional Info

Restructuring - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	21 Months Ended
	Nov. 30, 2024	Nov. 30, 2024	Nov. 30, 2024	Mar. 02, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring expense		$ 1,238
Project Fortify
Restructuring Cost and Reserve [Line Items]
Restructuring expense	$ 900	3,200	$ 15,600
Project Fortify | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring expense	(100)	1,300
Project Fortify | Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expense	1,000	1,900
Project Fortify | Termination benefits
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost	7,000	7,000	7,000
Project Fortify | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost	1,700	1,700	1,700
Project Fortify | Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost	16,000	16,000	16,000
Annualized cost savings				$ 13,000
Project Fortify | Minimum | Other restructuring charges
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost	7,500	7,500	7,500
Project Fortify | Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost	17,000	17,000	17,000
Annualized cost savings				$ 14,000
Project Fortify | Maximum | Other restructuring charges
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost	$ 8,500	$ 8,500	$ 8,500

Restructuring - Restructuring C

Restructuring - Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Nov. 30, 2024	Nov. 30, 2024
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 912	$ 3,213
Termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	410	1,285
Contract termination costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		108
Other restructuring charges
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	502	1,820
Architectural Framing Systems
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	842	2,755
Architectural Framing Systems | Termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	387	960
Architectural Framing Systems | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		108
Architectural Framing Systems | Other restructuring charges
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	455	1,687
Architectural Services
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	(717)	(459)
Architectural Services | Termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	(764)	(592)
Architectural Services | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		0
Architectural Services | Other restructuring charges
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	47	133
Corporate & Other
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	787	917
Corporate & Other | Termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	787	917
Corporate & Other | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		0
Corporate & Other | Other restructuring charges
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 0	$ 0

Restructuring - Reserve (Detail

Restructuring - Reserve (Details) - USD ($) $ in Thousands	9 Months Ended
	Nov. 30, 2024	Mar. 02, 2024
Restructuring Cost and Reserve [Line Items]
Beginning balance	$ 2,426	$ 4,937
Restructuring expense	1,238
Payments	(4,527)
Other adjustments	778
Ending Balance	2,426	4,937
Architectural Framing Systems
Restructuring Cost and Reserve [Line Items]
Beginning balance	853	2,814
Restructuring expense	1,090
Payments	(3,829)
Other adjustments	778
Ending Balance	853	2,814
Architectural Services
Restructuring Cost and Reserve [Line Items]
Beginning balance	785	2,067
Restructuring expense	(764)
Payments	(518)
Other adjustments	0
Ending Balance	785	2,067
Corporate & Other
Restructuring Cost and Reserve [Line Items]
Beginning balance	788	56
Restructuring expense	912
Payments	(180)
Other adjustments	0
Ending Balance	$ 788	$ 56