AZZ (AZZ) 10-Q 8 Jan 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Nov. 30, 2013
Document and Entity Information [Abstract]	'
Entity Registrant Name	'AZZ INC
Entity Central Index Key	'0000008947
Document Type	'10-Q
Document Period End Date	30-Nov-13
Amendment Flag	'false
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q3
Current Fiscal Year End Date	'--02-28
Entity Filer Category	'Accelerated Filer
Entity Common Stock, Shares Outstanding	25,538,265

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Nov. 30, 2013	Feb. 28, 2013
Current Assets:	'	'
Cash and Cash Equivalents	$50,947,249	$55,597,751
Accounts Receivable (Net of Allowance for Doubtful Accounts of $1,876,182 at November 30, 2013 and $1,000,000 at February 28, 2013)	129,340,830	97,857,193
Inventories:	'	'
Raw Material	63,492,747	47,189,162
Work-In-Process	39,594,154	32,040,915
Finished Goods	2,813,281	3,100,849
Costs and Estimated Earnings In Excess of Billings On Uncompleted Contracts	21,420,393	12,878,068
Deferred Income Taxes	9,474,271	7,615,525
Prepaid Expenses and Other	7,345,904	6,152,476
Total Current Assets	324,428,829	262,431,939
Property, Plant and Equipment, Net	198,103,382	154,476,220
Goodwill	281,711,232	171,886,270
Intangibles and Other Assets, Net	184,932,018	105,410,385
Total Assets	989,175,461	694,204,814
Current Liabilities:	'	'
Accounts Payable	40,912,686	28,921,539
Income Tax Payables	4,006,330	568,722
Accrued Salaries and Wages	14,169,463	11,013,779
Other Accrued Liabilities	20,444,277	14,811,126
Customer Advance Payment	37,902,908	39,168,672
Profit Sharing	6,299,439	8,360,000
Long Term Debt Due Within One Year	19,910,714	14,285,714
Billings In Excess of Costs and Estimated Earnings On Uncompleted Contracts	2,906,638	1,769,656
Total Current Liabilities	146,552,455	118,899,208
Long Term Accrued Liabilities Due After One Year	9,037,018	8,539,278
Long-Term Debt Due After One Year	416,642,857	196,428,571
Deferred Income Taxes	42,446,611	36,403,283
Shareholders' Equity:	'	'
Common Stock, $1 Par Value, Shares Authorized 100,000,000 (25,538,265 Shares at November 30, 2013 and 25,376,967 Shares at February 28, 2013)	25,538,265	25,376,967
Capital In Excess of Par Value	21,755,908	17,653,912
Retained Earnings	332,738,023	294,092,945
Accumulated Other Comprehensive Income	-5,535,676	-3,189,350
Total Shareholders' Equity	374,496,520	333,934,474
Total Liabilities and Shareholders' Equity	$989,175,461	$694,204,814

Recovered_Sheet1

Condensed consolidated Balance Sheets (Parenthetical) (USD $)	Nov. 30, 2013	Feb. 28, 2013
Statement of Financial Position [Abstract]	'	'
Accounts Receivable, Allowance for Doubtful Accounts	$1,876,182	$1,000,000
Common Stock, Par Value (usd per share)	$1	$1
Common Stock, Shares Authorized (shares)	100,000,000	100,000,000
Common Stock, Shares Issued (shares)	25,538,265	25,376,967

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2013	Nov. 30, 2012	Nov. 30, 2013	Nov. 30, 2012
Income Statement [Abstract]	'	'	'	'
Net Sales	$197,755,332	$149,674,616	$570,712,180	$430,202,771
Costs and Expenses	'	'	'	'
Cost of Sales	144,394,673	104,671,793	410,731,533	304,022,422
Selling, General and Administrative	28,112,999	17,894,549	80,978,427	49,019,008
Interest Expense	4,614,787	3,234,340	13,743,886	9,802,412
Net Loss (Gain) On Sale of Property, Plant and Equipment, and Insurance Proceeds	-7,372,927	157,065	-8,255,844	-5,794,623
Other Expense (Income) - net	93,802	-453,853	-3,616,796	-700,074
Total costs and expenses	169,843,334	125,503,894	493,581,206	356,349,145
Income Before Income Taxes	27,911,998	24,170,722	77,130,974	73,853,626
Income Tax Expense	9,466,843	8,807,042	27,776,267	26,631,069
Net Income	$18,445,155	$15,363,680	$49,354,707	$47,222,557
Earnings Per Common Share	'	'	'	'
Basic Earnings Per Share (usd per share)	$0.72	$0.61	$1.94	$1.87
Diluted Earnings Per Share (usd per share)	$0.72	$0.60	$1.92	$1.85

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2013	Nov. 30, 2012	Nov. 30, 2013	Nov. 30, 2012
Statement of Other Comprehensive Income [Abstract]	'	'	'	'
Net Income	$18,445,155	$15,363,680	$49,354,707	$47,222,557
Other Comprehensive Income (Loss):	'	'	'	'
Unrealized Translation Gains (Losses)	-39,810	-1,009,165	-2,305,648	-979,384
Interest Rate Swap, Net of Income Tax of $7,301, $7,301, $21,903 and $21,903 respectively.	-13,559	-13,560	-40,678	-40,678
Other Comprehensive Income (Loss)	-53,369	-1,022,725	-2,346,326	-1,020,062
Comprehensive Income	$18,391,786	$14,340,955	$47,008,381	$46,202,495

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2013	Nov. 30, 2012	Nov. 30, 2013	Nov. 30, 2012
Statement of Other Comprehensive Income [Abstract]	'	'	'	'
Interest rate swap, income tax	$7,301	$7,301	$21,903	$21,903

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Nov. 30, 2013	Nov. 30, 2012
Cash Flows From Operating Activities:	'	'
Net Income	$49,354,707	$47,222,557
Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities:	'	'
Provision For Doubtful Accounts	-28,980	472,560
Amortization and Depreciation	31,985,669	21,072,577
Deferred Income Tax Expense	2,962,278	2,544,663
Net Loss (Gain) On Insurance Settlement or On Sale of Property, Plant & Equipment	-8,255,844	-5,794,623
Amortization of Deferred Borrowing Costs	1,042,945	213,152
Share Based Compensation Expense	2,988,596	2,816,827
Effects of Changes In Assets & Liabilities:	'	'
Accounts Receivable	30,308,868	-8,318,577
Inventories	-4,328,441	-6,684,028
Prepaid Expenses and Other	-404,189	-1,058,221
Other Assets	-4,157,077	98,629
Net Change In Billings Related To Costs and Estimated Earnings On Uncompleted Contracts	-4,022,948	2,031,912
Accounts Payable	-2,053,323	2,459,582
Other Accrued Liabilities and Income Taxes Payable	-777,868	9,509,647
Net Cash Provided By Operating Activities	94,614,393	66,586,657
Cash Flows Used For Investing Activities:	'	'
Proceeds From Sale Or Insurance Settlement of Property, Plant, and Equipment	910,180	8,658,020
Purchase of Property, Plant and Equipment	-34,948,472	-19,628,014
Acquisition of Subsidiaries, Net of Cash Acquired	-275,702,030	-122,632,180
Net Cash From Investing Activities	-309,740,322	-133,602,174
Cash Flows From Financing Activities:	'	'
Proceeds from Stock Options Exercised	0	15,781
Excess Tax Benefits From Stock Options and Stock Appreciation Rights	1,216,428	1,283,240
Proceeds from Revolving Loan	197,000,000	0
Payments on Revolving Loan	-30,000,000	0
Proceeds on Long Term Debt	75,000,000	0
Payments on Long Term Debt	-16,160,714	-18,135,866
Debt Acquisition Costs	-5,880,539	-100,000
Payments of Dividends	-10,709,629	-9,870,423
Net Cash Used In Financing Activities	210,465,546	-26,807,268
Effect of Exchange Rate Changes on Cash	9,881	25,939
Net Increase (Decrease) In Cash & Cash Equivalents	-4,650,502	-93,796,846
Cash & Cash Equivalents At Beginning of Period	55,597,751	143,302,666
Cash & Cash Equivalents At End of Period	50,947,249	49,505,820
Supplemental Disclosures	'	'
Cash Paid For Interest	11,667,987	9,567,067
Cash Paid For Income Taxes	$20,537,607	$23,870,187

Consolidated_Statement_of_Shar

Consolidated Statement of Shareholders' Equity (Unaudited) (USD $)	Total	Stock Appreciation Rights (SARs) [Member]	Common Stock	Common Stock	Capital in Excess of Par Value	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
				Stock Appreciation Rights (SARs) [Member]		Stock Appreciation Rights (SARs) [Member]
Balance at Feb. 28, 2013	$333,934,474	'	$25,376,967	'	$17,653,912	'	$294,092,945	($3,189,350)
Balance (shares) at Feb. 28, 2013	'	'	25,376,967	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'	'
Stock Compensation (shares)	'	'	14,000	'	'	'	'	'
Stock Compensation	2,988,596	'	14,000	'	2,974,596	'	'	'
Restricted Stock Units (shares)	'	'	27,684	'	'	'	'	'
Restricted Stock Units	-565,527	'	27,684	'	-593,211	'	'	'
Stock Issued for SARs, Shares	'	'	'	56,665	'	'	'	'
Stock Issued for SARs	'	-958,649	'	56,665	'	-1,015,314	'	'
Employee Stock Purchase Plan (shares)	'	'	62,949	'	'	'	'	'
Employee Stock Purchase Plan	1,582,446	'	62,949	'	1,519,497	'	'	'
Federal Income Tax Deducted on Stock Options and SARs	1,216,428	'	'	'	1,216,428	'	'	'
Cash Dividend Paid	-10,709,629	'	'	'	'	'	-10,709,629	'
Net Income	49,354,707	'	'	'	'	'	49,354,707	'
Foreign Currency Translation	-2,305,648	'	'	'	'	'	'	-2,305,648
Interest Rate Swap, Net of $21,903 Income Tax	-40,678	'	'	'	'	'	'	-40,678
Balance at Nov. 30, 2013	$374,496,520	'	$25,538,265	'	$21,755,908	'	$332,738,023	($5,535,676)
Balance (shares) at Nov. 30, 2013	'	'	25,538,265	'	'	'	'	'

Consolidated_Statement_of_Shar1

Consolidated Statement of Shareholders' Equity (Parenthetical) (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2013	Nov. 30, 2012	Nov. 30, 2013	Nov. 30, 2012
Statement of Stockholders' Equity [Abstract]	'	'	'	'
Interest rate swap, income tax	$7,301	$7,301	$21,903	$21,903

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Nov. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	These interim unaudited condensed consolidated financial statements were prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the SEC rules and regulations referred to above. Accordingly, these financial statements should be read in conjunction with the audited financial statements and related notes for the fiscal year ended February 28, 2013 included in the Company’s Annual Report on Form 10-K covering such period. For purposes of the report, “AZZ”, the “Company”, “we”, “our”, “us” or similar reference means AZZ incorporated and our consolidated subsidiaries.
	Our fiscal year ends on the last day of February and is identified as the fiscal year for the calendar year in which it ends. For example, the fiscal year ended February 28, 2013 is referred to as fiscal 2013.
	In the opinion of management of the Company, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position of the Company as of November 30, 2013, and the results of its operations and cash flows for the three and nine month periods ended November 30, 2013 and 2012.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Nov. 30, 2013
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	Earnings per share.
	Earnings per share is based on the weighted average number of shares outstanding during each period, adjusted for the dilutive effect of stock awards. The shares and earnings per share have been adjusted to reflect our two for one stock split, effected in the form of a share dividend approved by the Board of Directors on June 28, 2012, and paid on July 30, 2012. All share data has been retroactively restated.
	The following table sets forth the computation of basic and diluted earnings per share:
		Three Months ended November 30,				Nine Months Ended November 30,
		2013		2012		2013		2012
		(Unaudited)
		(In thousands except share and per share data)
	Numerator:
	Net income for basic and diluted earnings per common share	$	18,445	$	15,364	$	49,355	$	47,223
	Denominator:
	Denominator for basic earnings per common share–weighted average shares	25,536,918		25,362,450		25,496,219		25,301,207
	Effect of dilutive securities:
	Employee and Director stock awards	182,960		240,412		186,887		236,050
	Denominator for diluted earnings per common share	25,719,878		25,602,862		25,683,106		25,537,257
	Earnings per share basic and diluted:
	Basic earnings per common share	$	0.72	$	0.61	$	1.94	$	1.87
	Diluted earnings per common share	$	0.72	$	0.6	$	1.92	$	1.85

Stockbased_Compensation

Stock-based Compensation	9 Months Ended
	Nov. 30, 2013
Share-based Compensation [Abstract]	'
Stock-based Compensation	'
	Stock-based Compensation.
	The Company has one share-based compensation plan (the “Plan”). The purpose of the Plan is to promote the growth and prosperity of the Company by permitting the Company to grant to its employees, directors and advisors various types of restricted stock unit awards, stock appreciation rights and options to purchase common stock of the Company. The maximum number of shares that may be issued under the Plan is 5,000,000 shares. As of November 30, 2013 the Company has approximately 742,274 shares available for future issuance under the Plan.
	Restricted Stock Unit Awards
	Restricted stock unit awards are valued at the market price of our common stock on the grant date. These awards generally have a three year cliff vesting schedule but may vest early in accordance with the Plan’s accelerated vesting provisions.
	The activity of our non-vested restricted stock unit awards for the nine month period ended November 30, 2013 is as follows:
		Restricted		Weighted
		Stock  Units		Average  Grant
				Date Fair Value
	Non-Vested Balance as of February 28, 2013	106,182		$	20.92
	Granted	46,793		45.34
	Vested	(81,283	)	22.77
	Forfeited	—		—
	Non-Vested Balance as of November 30, 2013	71,692		$	32.52
	Stock Appreciation Rights and Option Awards
	Stock appreciation rights and option awards are granted with an exercise price equal to the market value of our common stock on the date of grant. These awards generally have a contractual term of 7 years and vest ratably over a period of three years although some may vest immediately on issuance. These awards are valued using the Black-Scholes option pricing model.
	A summary of the Company’s stock appreciation rights and option awards activity for the nine month period ended November 30, 2013 is as follows:
		Options/SAR’s		Weighted Average
				Exercise  Price
	Outstanding as of February 28, 2013	439,863		$	19.12
	Granted	112,381		45.33
	Exercised	(135,380	)	19.08
	Forfeited	—		—
	Outstanding as of November 30, 2013	416,864		$	26.23
	Exercisable as of November 30, 2013	240,076		$	19.85
	Weighted average fair value of options and SARs granted during the period ended November 30, 2013			$	13.72
	The average remaining contractual term for those options and stock appreciation rights outstanding at November 30, 2013 is 4.50 years, with an aggregate intrinsic value of $9.4 million. The average remaining contractual terms for those options and stock appreciation rights that are exercisable as of November 30, 2013 is 3.79 years, with an aggregate intrinsic value of $7.0 million.
	Employee Stock Purchase Plan
	The Company also has an employee stock purchase plan, which allows employees of the Company to purchase common stock of the Company through accumulated payroll deductions. Offerings under this plan have a duration of 24 months. On the first day of an offering period (the "enrollment date") the participant is granted the option to purchase shares on each exercise date at the lower of 85% of the market value of a share of our common stock on the enrollment date or the exercise date. The participant’s right to purchase common stock under the plan is restricted to no more than $25,000 per calendar year and the participant may not purchase more than 5,000 shares during any offering period. Participants may terminate their interest in a given offering or a given exercise period by withdrawing all of their accumulated payroll deductions at any time prior to the end of the offering period. The fair value of the estimated number of shares to be issued under each offering is determined using the Black-Scholes option pricing model. For the nine month period ended November 30, 2013, the Company issued 62,949 shares under the Employee Stock Purchase Plan.
	Directors Grants
	During the second quarter of fiscal 2014, the Company granted each of its seven independent directors 2,000 shares of the Company's common stock. These common stock grants were valued at $36.70 per share. As previously stated all per share data has been adjusted to reflect the two for one stock split undertaken in fiscal 2013.
	Share-based compensation expense and related income tax benefits related to all the plans listed above were as follows:
	Period ended November 30,	2013			2012
	Compensation Expense	$	2,988,596		$	2,816,827
	Income tax benefits	$	1,046,009		$	985,889
	Unrecognized compensation cost related to stock appreciation rights, restricted stock units and the employee stock purchase plan at November 30, 2013 totals $3,449,797.
	The Company’s policy is to issue shares required under these plans from the Company’s authorized but unissued shares and treasury.

Segments

Segments	9 Months Ended
	Nov. 30, 2013
Segment Reporting [Abstract]	'
Segments	'
	Segments.
	We have two operating segments as defined in our Annual Report on Form 10-K for the year ended February 28, 2013. Information regarding operations and assets by segment is as follows:
			Three Months Ended November 30,					Nine Months Ended November 30,
			2013			2012		2013			2012
			(Unaudited)
			(In thousands)
	Net Sales:
	Electrical and Industrial Products and Services		$	112,035		$	60,421	$	312,635		$	171,633
	Galvanizing Services		85,720			89,254		258,077			258,570
			197,755			149,675		570,712			430,203
	Operating Income (a):
	Electrical and Industrial Products and Services		11,853			8,952		35,634			25,087
	Galvanizing Services		21,316			24,449		73,260			70,631
			33,169			33,401		108,893			95,718
	General Corporate Expense (b)		8,012			5,721		25,670			17,795
	Interest Expense		4,615			3,234		13,744			9,802
	Other (Income) Expense, Net (c)		(7,370		)	275		(7,652		)	(5,733		)
			5,257			9,230		31,762			21,865
	Income Before Income Taxes		$	27,912		$	24,171	$	77,131		$	73,853
	Total Assets:
	Electrical and Industrial Products and Services		$	550,985		$	260,191	$	550,985		$	260,191
	Galvanizing Services		383,560			359,694		383,560			359,694
	Corporate		54,630			54,580		54,630			54,580
			$	989,175		$	674,465	$	989,175		$	674,465
	(a)	Segment operating income consists of net sales, less cost of sales, specifically identifiable selling, general and administrative expenses, and other income and expense items that are specifically identifiable to a segment.
	(b)	General Corporate Expense consists of selling, general and administrative expenses that are not specifically identifiable to a segment.
	(c)	Other (income) expense, net includes gains or losses on sale of property, plant and equipment and other (income) expenses not specifically identifiable to a segment.

Warranty_Reserves

Warranty Reserves	9 Months Ended
	Nov. 30, 2013
Product Warranties Disclosures [Abstract]	'
Warranty Reserves	'
	Warranty Reserves.
	A reserve has been established to provide for the estimated future cost of warranties on a portion of the Company’s delivered products and is classified within accrued liabilities on the consolidated balance sheet. Management periodically reviews the reserves and makes adjustments accordingly. Warranties cover such factors as non-conformance to specifications and defects in material and workmanship. The following table shows changes in the warranty reserves since the end of fiscal 2013:
		Warranty Reserve
		(unaudited)
		(in thousands)
	Balance at February 28, 2013	$	2,073
	Warranty costs incurred	(657		)
	Additions charged to income	432
	Balance at May 31, 2013	$	1,848
	Warranty costs incurred	(595		)
	Additions charged to income	407
	Balance at August 31, 2013	$	1,660
	Warranty costs incurred	(595		)
	Additions charged to income	245
	Balance at November 30, 2013	$	1,310

Acquisitions

Acquisitions	9 Months Ended
	Nov. 30, 2013
Business Combinations [Abstract]	'
Acquisitions	'
	Acquisitions
	On March 29, 2013, we completed our acquisition of all of the equity securities of Aquilex Specialty Repair and Overhaul LLC, a Delaware limited liability company (“Aquilex SRO”), pursuant to the terms of the Securities Purchase Agreement dated February 22, 2013 (the “Purchase Agreement”). Aquilex SRO provides the energy industry with specialty repair and overhaul solutions designed to improve mechanical integrity and extend component life. Aquilex SRO offers services to a diverse base of blue-chip customers in the nuclear, fossil power, refining, chemical processing, pulp and waste-to-energy industries, serving clients that place a high value on reliability, quality and safety. Aquilex SRO’s offering is differentiated through advanced proprietary tooling and process technologies delivered by a uniquely skilled specialized workforce. The acquisition is part of our strategy to expand our offerings in the Electrical and Industrial Products and Services Segment to enhance our presence in the power generation market.
	The Purchase Agreement provided for AZZ's acquisition of all equity securities of Aquilex SRO for cash consideration in the amount of $275.7 million, which is comprised of $271.8 million as cash paid at closing and $3.9 million subsequently paid in connection with a purchase price adjustment based on working capital pursuant to the Purchase Agreement.
	The following consolidated supplemental pro forma information assumes that the acquisition of Aquilex SRO took place on March 1, 2012 for the income statements for the three and nine month periods ended November 30, 2013 and 2012. These amounts have been calculated after applying the Company’s accounting policies and adjusting the results of Aquilex SRO to reflect the decrease in interest expense that would have occurred under the new credit agreement and to reflect the decrease in depreciation and amortization expense that would have occurred assuming the fair value adjustments to property, plant and equipment and intangible assets had been applied on March 1, 2012, together with consequential tax effects. In addition, supplemental pro forma earnings were adjusted to exclude approximately $4.3 million of acquisition related costs incurred in fiscal year 2014. Fiscal year 2013 supplement pro forma earnings were adjusted to include these charges.
			Three Months Ended November 30,				Nine Months Ended November 30,
			2013		2012		2013		2012
			(In thousands, except for per share amounts)
	Net Sales		$	197,755	$	206,838	$	593,807	$	601,554
	Net Income		$	19,212	$	17,762	$	52,659	$	53,456
	Earnings Per Common Share
	Basic Earnings Per Share		$	0.75	$	0.7	$	2.07	$	2.11
	Diluted Earnings Per Share		$	0.75	$	0.69	$	2.05	$	2.09
	The total purchase price was allocated to Aquilex SRO's net tangible and identifiable intangible assets based on their estimated fair values as of March 29, 2013, the date on which AZZ acquired control of Aquilex SRO. The excess of the purchase price over the net tangible and identifiable intangible assets was recorded as goodwill. The goodwill recorded is attributable to projected growth at Aquilex SRO. Aquilex SRO's international presence coupled with their ability to install products manufactured by our existing Electrical and Industrial Products and Services segment will assist in expanding AZZ's global presence and increasing our market share.
	The goodwill will be deductible for income tax purposes. AZZ has made an allocation of the purchase price as follows (in thousands):
	Purchase Price Allocation:
		($ in thousands)
	Current Assets	$	79,965
	Property and Equipment	27,669
	Intangible Assets	85,000
	Goodwill	110,017
	Other Assets	282
	Total Assets Acquired	302,933
	Current Liabilities	(27,231		)
	Net Assets Acquired	$	275,702
	On January 2, 2013, we acquired G3 Galvanizing Limited ("G3"), a galvanizing operation in Halifax, Nova Scotia. This acquisition is part of the stated AZZ strategy to continue the geographic expansion of its served markets that should provide a basis for continued growth of the Galvanizing Services Segment of AZZ. The purchase price paid in connection with the asset purchase was $12.0 million and the assumption of $3.1 million in liabilities. Goodwill of $4.2 million resulting from the acquisition has been allocated to the Galvanizing Services Segment and will not be deductible for tax purposes. This acquisition was made to complement and expand our existing geographic Canadian footprint and the goodwill recorded in connection with the acquisition is attributable to the geographic expansion.
	On October 1, 2012, we completed the acquisition of substantially all of the assets of Galvcast Manufacturing Inc. (“Galvcast”), a Canadian galvanizing company with operations in Ontario, and certain real property owned by an affiliate of Galvcast. The purchase price paid in connection with the asset purchase was $48.0 million and the assumption of approximately $0.9 million in liabilities. Goodwill of $15.7 million resulting from the acquisition has been allocated to the Galvanizing Services Segment and 75% of the goodwill will be deductible for tax purposes. This acquisition was made to complement and expand our existing geographic Canadian footprint and the goodwill recorded in connection with the acquisition is attributable to the geographic expansion.
	On June 1, 2012, we completed the acquisition of substantially all of the assets of Nuclear Logistics Incorporated (“NLI”). The purchase price paid in connection with the asset purchase was $77.0 million, net of cash acquired, along with the assumption of certain liabilities and the payoff of $3.8 million of notes payable at closing. In connection with our acquisition of NLI, we may be obligated to make an additional payment of up to $20 million based on the future financial performance of the NLI business. The net present value of this additional payment, which is subject to the terms and conditions of the asset purchase agreement we entered into in connection with the acquisition, was $9.0 million, and is reflected as a long-term liability. The net present value was calculated by determining a probability of potential payout which was then discounted by the cost of money over the life of the agreement. The pre-acquisition customer base of AZZ is essentially the same customer base utilized by NLI.
	The following consolidated pro forma information assumes that the acquisition of NLI took place on March 1, 2012 for the income statements for the three and nine month periods ended November 30, 2013 and 2012.
			Three Months Ended November 30,				Nine Months Ended November 30,
			2013		2012		2013		2012
			(In thousands, except for per share amounts)
	Net Sales		$	197,755	$	149,675	$	570,712	$	443,351
	Net Income		$	19,212	$	15,364	$	52,136	$	47,426
	Earnings Per Common Share
	Basic Earnings Per Share		$	0.75	$	0.61	$	2.04	$	1.87
	Diluted Earnings Per Share		$	0.75	$	0.6	$	2.03	$	1.86
	The total purchase price was allocated to NLI’s net tangible and identifiable intangible assets based on their estimated fair values as of June 1, 2012, the date on which AZZ acquired control of NLI. The excess of the purchase price over the net tangible and identifiable intangible assets was recorded as goodwill. The goodwill is attributable to significant business synergies that are expected to arise in future years. The goodwill will be deductible for income tax purposes. The earn out provision mentioned above has been classified below as a long term liability. AZZ has made an allocation of the purchase price as follows (in thousands):
	Purchase Price Allocation:
		($ in thousands)
	Current Assets	$	22,901
	Property and Equipment	1,416
	Intangible Assets	50,600
	Goodwill	32,323
	Other Assets	58
	Total Assets Acquired	107,298
	Current Liabilities	(17,866		)
	Long Term Liabilities	(12,388		)
	Net Assets Acquired	$	77,044

Subsequent_Events_Notes

Subsequent Events (Notes)	9 Months Ended
	Nov. 30, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	None.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Nov. 30, 2013
Earnings Per Share [Abstract]	'
Computation of basic and diluted earnings per share	'
	The following table sets forth the computation of basic and diluted earnings per share:
		Three Months ended November 30,				Nine Months Ended November 30,
		2013		2012		2013		2012
		(Unaudited)
		(In thousands except share and per share data)
	Numerator:
	Net income for basic and diluted earnings per common share	$	18,445	$	15,364	$	49,355	$	47,223
	Denominator:
	Denominator for basic earnings per common share–weighted average shares	25,536,918		25,362,450		25,496,219		25,301,207
	Effect of dilutive securities:
	Employee and Director stock awards	182,960		240,412		186,887		236,050
	Denominator for diluted earnings per common share	25,719,878		25,602,862		25,683,106		25,537,257
	Earnings per share basic and diluted:
	Basic earnings per common share	$	0.72	$	0.61	$	1.94	$	1.87
	Diluted earnings per common share	$	0.72	$	0.6	$	1.92	$	1.85

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	9 Months Ended
	Nov. 30, 2013
Share-based Compensation [Abstract]	'
Restricted Stock Unit Awards Non-Vested	'
	The activity of our non-vested restricted stock unit awards for the nine month period ended November 30, 2013 is as follows:
		Restricted		Weighted
		Stock  Units		Average  Grant
				Date Fair Value
	Non-Vested Balance as of February 28, 2013	106,182		$	20.92
	Granted	46,793		45.34
	Vested	(81,283	)	22.77
	Forfeited	—		—
	Non-Vested Balance as of November 30, 2013	71,692		$	32.52
Stock Appreciation Rights and Option Awards	'
	A summary of the Company’s stock appreciation rights and option awards activity for the nine month period ended November 30, 2013 is as follows:
		Options/SAR’s		Weighted Average
				Exercise  Price
	Outstanding as of February 28, 2013	439,863		$	19.12
	Granted	112,381		45.33
	Exercised	(135,380	)	19.08
	Forfeited	—		—
	Outstanding as of November 30, 2013	416,864		$	26.23
	Exercisable as of November 30, 2013	240,076		$	19.85
	Weighted average fair value of options and SARs granted during the period ended November 30, 2013			$	13.72
Share-based compensation expense and related income tax	'
	Share-based compensation expense and related income tax benefits related to all the plans listed above were as follows:
	Period ended November 30,	2013			2012
	Compensation Expense	$	2,988,596		$	2,816,827
	Income tax benefits	$	1,046,009		$	985,889

Segments_Tables

Segments (Tables)	9 Months Ended
	Nov. 30, 2013
Segment Reporting [Abstract]	'
Operations and assets by segment	'
	Information regarding operations and assets by segment is as follows:
			Three Months Ended November 30,					Nine Months Ended November 30,
			2013			2012		2013			2012
			(Unaudited)
			(In thousands)
	Net Sales:
	Electrical and Industrial Products and Services		$	112,035		$	60,421	$	312,635		$	171,633
	Galvanizing Services		85,720			89,254		258,077			258,570
			197,755			149,675		570,712			430,203
	Operating Income (a):
	Electrical and Industrial Products and Services		11,853			8,952		35,634			25,087
	Galvanizing Services		21,316			24,449		73,260			70,631
			33,169			33,401		108,893			95,718
	General Corporate Expense (b)		8,012			5,721		25,670			17,795
	Interest Expense		4,615			3,234		13,744			9,802
	Other (Income) Expense, Net (c)		(7,370		)	275		(7,652		)	(5,733		)
			5,257			9,230		31,762			21,865
	Income Before Income Taxes		$	27,912		$	24,171	$	77,131		$	73,853
	Total Assets:
	Electrical and Industrial Products and Services		$	550,985		$	260,191	$	550,985		$	260,191
	Galvanizing Services		383,560			359,694		383,560			359,694
	Corporate		54,630			54,580		54,630			54,580
			$	989,175		$	674,465	$	989,175		$	674,465
	(a)	Segment operating income consists of net sales, less cost of sales, specifically identifiable selling, general and administrative expenses, and other income and expense items that are specifically identifiable to a segment.
	(b)	General Corporate Expense consists of selling, general and administrative expenses that are not specifically identifiable to a segment.
	(c)	Other (income) expense, net includes gains or losses on sale of property, plant and equipment and other (income) expenses not specifically identifiable to a segment.

Warranty_Reserves_Tables

Warranty Reserves (Tables)	9 Months Ended
	Nov. 30, 2013
Product Warranties Disclosures [Abstract]	'
Changes in the warranty reserves	'
	The following table shows changes in the warranty reserves since the end of fiscal 2013:
		Warranty Reserve
		(unaudited)
		(in thousands)
	Balance at February 28, 2013	$	2,073
	Warranty costs incurred	(657		)
	Additions charged to income	432
	Balance at May 31, 2013	$	1,848
	Warranty costs incurred	(595		)
	Additions charged to income	407
	Balance at August 31, 2013	$	1,660
	Warranty costs incurred	(595		)
	Additions charged to income	245
	Balance at November 30, 2013	$	1,310

Acquisitions_Tables

Acquisitions (Tables)	9 Months Ended
	Nov. 30, 2013
Business Combinations [Abstract]	'
Summary of Acquisitions	'
	Fiscal year 2013 supplement pro forma earnings were adjusted to include these charges.
			Three Months Ended November 30,				Nine Months Ended November 30,
			2013		2012		2013		2012
			(In thousands, except for per share amounts)
	Net Sales		$	197,755	$	206,838	$	593,807	$	601,554
	Net Income		$	19,212	$	17,762	$	52,659	$	53,456
	Earnings Per Common Share
	Basic Earnings Per Share		$	0.75	$	0.7	$	2.07	$	2.11
	Diluted Earnings Per Share		$	0.75	$	0.69	$	2.05	$	2.09
	The following consolidated pro forma information assumes that the acquisition of NLI took place on March 1, 2012 for the income statements for the three and nine month periods ended November 30, 2013 and 2012.
			Three Months Ended November 30,				Nine Months Ended November 30,
			2013		2012		2013		2012
			(In thousands, except for per share amounts)
	Net Sales		$	197,755	$	149,675	$	570,712	$	443,351
	Net Income		$	19,212	$	15,364	$	52,136	$	47,426
	Earnings Per Common Share
	Basic Earnings Per Share		$	0.75	$	0.61	$	2.04	$	1.87
	Diluted Earnings Per Share		$	0.75	$	0.6	$	2.03	$	1.86
Purchase Price Allocation	'
	Purchase Price Allocation:
		($ in thousands)
	Current Assets	$	79,965
	Property and Equipment	27,669
	Intangible Assets	85,000
	Goodwill	110,017
	Other Assets	282
	Total Assets Acquired	302,933
	Current Liabilities	(27,231		)
	Net Assets Acquired	$	275,702
	Purchase Price Allocation:
		($ in thousands)
	Current Assets	$	22,901
	Property and Equipment	1,416
	Intangible Assets	50,600
	Goodwill	32,323
	Other Assets	58
	Total Assets Acquired	107,298
	Current Liabilities	(17,866		)
	Long Term Liabilities	(12,388		)
	Net Assets Acquired	$	77,044

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2013	Nov. 30, 2012	Nov. 30, 2013	Nov. 30, 2012
Numerator:	'	'	'	'
Net income for basic and diluted earnings per common share	$18,445,155	$15,363,680	$49,354,707	$47,222,557
Denominator:	'	'	'	'
Denominator for basic earnings per common share-weighted average shares (shares)	25,536,918	25,362,450	25,496,219	25,301,207
Effect of dilutive securities:	'	'	'	'
Employee and Director stock awards (shares)	182,960	240,412	186,887	236,050
Denominator for diluted earnings per common share (shares)	25,719,878	25,602,862	25,683,106	25,537,257
Earnings per share basic and diluted:	'	'	'	'
Basic earnings per Common share (usd per share)	$0.72	$0.61	$1.94	$1.87
Diluted earnings per common share (usd per share)	$0.72	$0.60	$1.92	$1.85

Stockbased_Compensation_Detail

Stock-based Compensation (Details) (Restricted Stock Units (RSUs) [Member], USD $)	9 Months Ended
	Nov. 30, 2013
Restricted Stock Units (RSUs) [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]	'
Non-Vested Balance as of February 28, 2013 (shares)	106,182
Granted (shares)	46,793
Vested (shares)	-81,283
Forfeited (shares)	0
Non-Vested Balance as of May 31, 2013 (shares)	71,692
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]	'
Non-Vested Balance as of February 28, 2013, Weight Average Grant Date Fair Value (usd per share)	$20.92
Granted, Weighted Average Grant Date Fair Value (usd per share)	$45.34
Vested, Weighted Average Grant Date Fair Value (usd per share)	$22.77
Forfeited, Weighted Average Grant Date Fair Value (usd per share)	$0
Non-Vested as of May 31, 2013, Weighted Average Grant Date Fair Value (usd per share)	$32.52

Stockbased_Compensation_Detail1

Stock-based Compensation (Details 1) (Stock Appreciation Rights SARS and Stock Option [Member], USD $)	9 Months Ended
	Nov. 30, 2013
Stock Appreciation Rights SARS and Stock Option [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments, Number of Shares [Roll Forward]	'
Outstanding as of February 28, 2013 (shares)	439,863
Granted (shares)	112,381
Exercised (shares)	-135,380
Forfeited (shares)	0
Outstanding as of May 31, 2013 (shares)	416,864
Exercisable as of May 31, 2013	240,076
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instrument, Weighted Average Grant Date Fair Value [Roll Forward]	'
Outstanding as of February 28, 2013, Weighted Average Exercise Price (usd per share)	$19.12
Granted, Weighted Average Exercise Price (usd per share)	$45.33
Exercised, Weighted Average Exercise Price (usd per share)	$19.08
Forfeited, Weighted Average Exercise Price (usd per share)	$0
Outstanding at end of the period ended May 31, 2013, Weighted Average Exercise Price (usd per share)	$26.23
Exercisable at end of period ended May 31, 2013, Weighted Average Exercise Price (usd per share)	$19.85
Weighted average fair value of options and SARs granted during the period ended May 31, 2013 (usd per share)	$13.72

Stockbased_Compensation_Detail2

Stock-based Compensation (Details 2) (USD $)	9 Months Ended
	Nov. 30, 2013	Nov. 30, 2012
Share based compensation expense and related income tax benefits	'	'
Compensation Expense	$2,988,596	$2,816,827
Income tax benefits	$1,046,009	$985,889

Stockbased_Compensation_Detail3

Stock-based Compensation (Details Textual) (USD $)	9 Months Ended
	Nov. 30, 2013
	share_based_compensation_plan
Share Based Compensation (Textual) [Abstract]	'
Number Of Share-Based Compensation Plans	1
Shares authorized (shares)	5,000,000
Share for future issuance (shares)	742,274
Unrecognized compensation cost	$3,449,797
Employee Stock Purchase Plan [Member]	'
Share Based Compensation (Textual) [Abstract]	'
Term of offering under stock purchase plan	'24 months
Granted option lower than	85.00%
Restricted common stock under plan	25,000
Common stock purchased during period (shares)	5,000
Restricted Stock [Member]	'
Share Based Compensation (Textual) [Abstract]	'
Vesting ratably term	'3 years
Stock Appreciation Rights SARS and Stock Option [Member]	'
Share Based Compensation (Textual) [Abstract]	'
Vesting ratably term	'3 years
Term for the contract	'7 years
Outstanding Average contractual term	'4 years 6 months 0 days
Outstanding Aggregate intrinsic value	9,400,000
Average remaining contractual term	'3 years 9 months 15 days
Aggregate remaining intrinsic value	$7,000,000

Segments_Details

Segments (Details) (USD $)	3 Months Ended				9 Months Ended
	Nov. 30, 2013		Nov. 30, 2012		Nov. 30, 2013		Nov. 30, 2012
	segment
Segment Reporting Information [Line Items]	'		'		'		'
Number of operating segments	2		'		'		'
Operations and assets by segment	'		'		'		'
Net Sales	$197,755,332		$149,674,616		$570,712,180		$430,202,771
Operating Income	33,169,000	[1]	33,401,000	[1]	108,893,000	[1]	95,718,000	[1]
General Corporate Expense	8,012,000	[2]	5,721,000	[2]	25,670,000	[2]	17,795,000	[2]
Interest Expense	4,614,787		3,234,340		13,743,886		9,802,412
Other (Income) Expense, Net	-7,370,000	[3]	275,000	[3]	-7,652,000	[3]	-5,733,000	[3]
Total expenses	5,257,000		9,230,000		31,762,000		21,865,000
Income Before Income Taxes	27,912,000		24,171,000		77,131,000		73,853,000
Total Assets	989,175,000		674,465,000		989,175,000		674,465,000
Electrical and Industrial Products [Member]	'		'		'		'
Operations and assets by segment	'		'		'		'
Net Sales	112,035,000		60,421,000		312,635,000		171,633,000
Operating Income	11,853,000	[1]	8,952,000	[1]	35,634,000	[1]	25,087,000	[1]
Total Assets	550,985,000		260,191,000		550,985,000		260,191,000
Galvanizing Services [Member]	'		'		'		'
Operations and assets by segment	'		'		'		'
Net Sales	85,720,000		89,254,000		258,077,000		258,570,000
Operating Income	21,316,000	[1]	24,449,000	[1]	73,260,000	[1]	70,631,000	[1]
Total Assets	383,560,000		359,694,000		383,560,000		359,694,000
Corporate [Member]	'		'		'		'
Operations and assets by segment	'		'		'		'
Total Assets	$54,630,000		$54,580,000		$54,630,000		$54,580,000
[1]	Segment operating income consists of net sales, less cost of sales, specifically identifiable selling, general and administrative expenses, and other income and expense items that are specifically identifiable to a segment.
[2]	General Corporate Expense consists of selling, general and administrative expenses that are not specifically identifiable to a segment.
[3]	Other (income) expense, net includes gains or losses on sale of property, plant and equipment and other (income) expenses not specifically identifiable to a segment.

Warranty_Reserves_Details

Warranty Reserves (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Nov. 30, 2013	Aug. 31, 2013	31-May-13
Movement in Standard Product Warranty Accrual [Roll Forward]	'	'	'
Balance at February 29, 2012	$1,660	$1,848	$2,073
Warranty costs incurred	-595	-595	-657
Additions charged to income	245	407	432
Balance at August 31, 2012	$1,310	$1,660	$1,848

Acquisitions_Details

Acquisitions (Details) (USD $)	9 Months Ended				3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 30, 2013	Nov. 30, 2012	Nov. 30, 2013	Nov. 30, 2012	Nov. 30, 2013	Nov. 30, 2012
			Aquilex [Member]	Aquilex [Member]	Nuclear Logistics Incorporated [Member]	Nuclear Logistics Incorporated [Member]
Business Acquisition, Pro Forma Information [Abstract]	'	'	'	'	'	'
Net Sales	$570,712	$443,351	$197,755	$206,838	$197,755	$149,675
Net Income	$52,136	$47,426	$19,212	$17,762	$19,212	$15,364
Earnings Per Common Share	'	'	'	'	'	'
Basic earnings per share (usd per share)	$2.04	$1.87	$0.75	$0.70	$0.75	$0.61
Diluted Earnings Per Share (usd per share)	$2.03	$1.86	$0.75	$0.69	$0.75	$0.60

Acquisitions_Details_1

Acquisitions (Details 1) (USD $)	Mar. 29, 2013	Jun. 02, 2012
In Thousands, unless otherwise specified	Aquilex [Member]	Nuclear Logistics Incorporated [Member]
Purchase Price Allocation	'	'
Current Assets	$79,965	$22,901
Property and Equipment	27,669	1,416
Intangible Assets	85,000	50,600
Goodwill	110,017	32,323
Other Assets	282	58
Total Assets Acquired	302,933	107,298
Current Liabilities	-27,231	-17,866
Long Term Liabilities	'	-12,388
Net Assets Acquired	$275,702	$77,044

Acquisitions_Details_Textual

Acquisitions (Details Textual) (USD $)	Nov. 30, 2013	Feb. 28, 2013	Mar. 29, 2013	Jan. 02, 2013	Oct. 01, 2012	Jun. 02, 2012
			Aquilex [Member]	G3 Galvananizing Limited [Member]	Galvcast Manufacturing Inc [Member]	Nuclear Logistics Incorporated [Member]
Business Acquisition [Line Items]	'	'	'	'	'	'
Purchase price paid	'	'	$275,700,000	'	'	$77,000,000
Payments to Acquire Businesses, Gross	'	'	271,800,000	'	'	'
Additional payment on performance	'	'	3,900,000	'	'	20,000,000
Acquisiton Related Costs Excluded From Pro Form Earnings	'	'	4,300,000	'	'	'
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	'	'	'	3,100,000	900,000	'
Goodwill	281,711,232	171,886,270	'	4,200,000	15,700,000	'
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	'	'	'	12,000,000	48,000,000	'
Certain liabilities payoff	'	'	'	'	'	3,800,000
Fair value the earn	'	'	'	'	'	$9,000,000
Goodwill, Deductible	'	'	'	'	75.00%	'