AZZ (AZZ) 10-Q 9 Jan 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Nov. 30, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	AZZ INC
Entity Central Index Key	8947
Document Type	10-Q
Document Period End Date	30-Nov-14
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	-26
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	25,714,873

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Nov. 30, 2014	Feb. 28, 2014
Current Assets:
Cash and Cash Equivalents	$43,950,753	$27,564,533
Accounts Receivable (Net of Allowance for Doubtful Accounts of $1,422,262 as of November 30, 2014 and $1,744,321 as of February 28, 2014)	130,699,962	116,127,857
Inventories:
Raw Material	63,813,601	64,817,203
Work-In-Process	44,646,598	39,780,782
Finished Goods	3,814,865	2,982,860
Costs and Estimated Earnings In Excess of Billings On Uncompleted Contracts	34,942,863	27,221,952
Deferred Income Taxes	6,784,771	7,800,738
Prepaid Expenses and Other	6,579,823	9,884,798
Total Current Assets	335,233,236	296,180,723
Property, Plant and Equipment, Net	196,157,668	197,639,229
Goodwill	281,230,194	278,556,040
Intangibles and Other Assets, Net	168,718,259	180,877,043
Total Assets	981,339,357	953,253,035
Current Liabilities:
Accounts Payable	58,873,096	38,832,557
Income Tax Payables	7,542,440	5,358,594
Accrued Salaries and Wages	15,247,795	17,759,777
Other Accrued Liabilities	22,587,716	17,155,430
Customer Advance Payment	32,545,258	33,733,099
Profit Sharing	5,167,632	7,310,000
Long Term Debt Due Within One Year	22,762,810	20,848,214
Billings In Excess of Costs and Estimated Earnings On Uncompleted Contracts	3,273,245	3,018,379
Total Current Liabilities	167,999,992	144,016,050
Other Liabilities, Noncurrent	0	9,120,723
Long-Term Debt Due After One Year	355,857,143	384,767,857
Deferred Income Taxes	42,000,379	39,435,143
Shareholders' Equity:
Common Stock, $1 Par Value, Shares Authorized 100,000,000 (25,714,873 Shares at November 30, 2014 and 25,577,205 Shares at February 28, 2014)	25,714,873	25,577,205
Capital In Excess of Par Value	26,759,205	21,954,777
Retained Earnings	377,020,915	339,399,556
Accumulated Other Comprehensive Income	-14,013,150	-11,018,276
Total Shareholders' Equity	415,481,843	375,913,262
Total Liabilities and Shareholders' Equity	$981,339,357	$953,253,035

Recovered_Sheet1

Condensed consolidated Balance Sheets (Parenthetical) (USD $)	Nov. 30, 2014	Feb. 28, 2014
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Doubtful Accounts	$1,422,262	$1,744,321
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)	25,714,873	25,577,205

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Income Statement [Abstract]
Net Sales	$224,833,465	$197,755,332	$634,375,500	$570,712,180
Costs and Expenses
Cost of Sales	164,058,332	144,394,673	476,111,658	410,731,533
Gross Profit	60,775,133	53,360,659	158,263,842	159,980,647
Selling, General and Administrative	27,847,356	28,112,999	74,532,175	80,978,427
Operating Income (Loss)	32,927,777	25,247,660	83,731,667	79,002,220
Interest Expense	4,099,062	4,614,787	12,531,398	13,743,886
Gain (Loss) on Disposition of Property Plant Equipment	1,171,443	7,372,927	1,194,944	8,255,844
Other Expense (Income) - net	1,321,782	93,802	1,308,121	-3,616,796
Income Before Income Taxes	28,678,376	27,911,998	71,087,092	77,130,974
Income Tax Expense	8,713,055	9,466,843	22,427,670	27,776,267
Net Income	$19,965,321	$18,445,155	$48,659,422	$49,354,707
Earnings Per Common Share
Basic Earnings Per Share (usd per share)	$0.78	$0.72	$1.90	$1.94
Diluted Earnings Per Share (usd per share)	$0.77	$0.72	$1.89	$1.92

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Statement of Comprehensive Income [Abstract]
Net Income	$19,965,321	$18,445,155	$48,659,422	$49,354,707
Other Comprehensive Income (Loss):
Unrealized Translation Gains (Losses)	-5,334,046	-39,810	-2,954,196	-2,305,648
Interest Rate Swap, Net of Income Tax of $7,301, $7,301, $21,903 and $21,903, respectively	-13,559	-13,559	-40,678	-40,678
Other Comprehensive Income (Loss)	-5,347,605	-53,369	-2,994,874	-2,346,326
Comprehensive Income	$14,617,716	$18,391,786	$45,664,548	$47,008,381

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Statement of 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, 2014	Nov. 30, 2013
Cash Flows From Operating Activities:
Net Income	$48,659,422	$49,354,707
Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities:
Provision For Doubtful Accounts	311,491	-28,980
Amortization and Depreciation	35,111,985	31,985,669
Deferred Income Tax Expense	3,628,040	2,962,278
Property, Plant and Equipment, Disposals	2,651,182
Net Loss (Gain) On Insurance Settlement or On Sale of Property, Plant & Equipment	-1,194,944	-8,255,844
Amortization of Deferred Borrowing Costs	1,078,285	1,042,945
Share Based Compensation Expense	3,342,071	2,988,596
Effects of Changes In Assets & Liabilities:
Accounts Receivable	-15,482,965	30,308,868
Inventories	-4,715,190	-4,328,441
Prepaid Expenses and Other	3,596,377	-404,189
Other Assets	-161,370	-4,157,077
Net Change In Billings Related To Costs and Estimated Earnings On Uncompleted Contracts	-7,874,605	-4,022,948
Accounts Payable	19,875,079	-2,053,323
Other Accrued Liabilities and Income Taxes Payable	-5,896,790	-777,868
Net Cash Provided By Operating Activities	82,928,068	94,614,393
Cash Flows Used For Investing Activities:
Proceeds From Sale Or Insurance Settlement of Property, Plant, and Equipment	1,320,999	910,180
Purchase of Property, Plant and Equipment	-19,858,893	-34,948,472
Acquisition of Subsidiaries, Net of Cash Acquired	-10,500,000	-275,702,030
Net Cash From Investing Activities	-29,037,894	-309,740,322
Cash Flows From Financing Activities:
Excess Tax Benefits From Stock Options and Stock Appreciation Rights	213,708	1,216,428
Proceeds from Revolving Loan	10,977,095	197,000,000
Payments on Revolving Loan	-19,000,000	-30,000,000
Proceeds on Long Term Debt	0	75,000,000
Payments on Long Term Debt	-18,973,213	-16,160,714
Debt Acquisition Costs		-5,880,539
Payments of Dividends	-11,038,063	-10,709,629
Net Cash Used In Financing Activities	-37,820,473	210,465,546
Effect of Exchange Rate Changes on Cash	316,519	9,881
Net Increase (Decrease) In Cash & Cash Equivalents	16,386,220	-4,650,502
Cash & Cash Equivalents At Beginning of Period	27,564,533	55,597,751
Cash & Cash Equivalents At End of Period	43,950,753	50,947,249
Supplemental Disclosures
Cash Paid For Interest	11,044,378	11,667,987
Cash Paid For Income Taxes	$15,263,883	$20,537,607

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, 2014	$375,913,262		$25,577,205		$21,954,777		$339,399,556	($11,018,276)
Balance (shares) at Feb. 28, 2014			25,577,205
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Compensation (shares)			16,000
Stock Compensation	3,342,071		16,000		3,326,071
Restricted Stock Units (shares)			14,031
Restricted Stock Units	-278,391		14,031		-292,422
Stock Issued for SARs, Shares				29,664
Stock Issued for SARs		-709,938		29,664		-739,602
Employee Stock Purchase Plan (shares)			77,973
Employee Stock Purchase Plan	2,374,646		77,973		2,296,673
Federal Income Tax Deducted on Stock Options and SARs	213,708				213,708
Cash Dividend Paid	-11,038,063						-11,038,063
Net Income	48,659,422						48,659,422
Foreign Currency Translation	-2,954,196							-2,954,196
Interest Rate Swap, Net of $21,903 Income Tax	-40,678							-40,678
Balance at Nov. 30, 2014	$415,481,843		$25,714,873		$26,759,205		$377,020,915	($14,013,150)
Balance (shares) at Nov. 30, 2014			25,714,873

Consolidated_Statement_of_Shar1

Consolidated Statement of Shareholders' Equity (Parenthetical) (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
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, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The Company and Basis of Presentation
	AZZ incorporated (“AZZ”, the “Company” or “we”) was established in 1956 and incorporated under the laws of the State of Texas. We are a global provider of galvanizing services, welding solutions, specialty electrical equipment and highly engineered services to the markets of power generation, transmission, distribution and industrial in protecting metal and electrical systems used to build and enhance the world’s infrastructure. AZZ Galvanizing is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing to the North American steel fabrication industry. AZZ Energy is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy markets worldwide.
	We have two operating segments as defined in our Annual Report on Form 10-K for the fiscal year ended February 28, 2014. As of March 1, 2014, our Electrical and Industrial Products and Services Segment was rebranded to the Energy Segment to more closely align the description of the segment with the nature of its operations and served markets. There have been no changes to the underlying information reported under this operating segment however, the new description will be included in the operating results for the three and nine months ended November 30, 2014 and 2013 and in future filings.
	Presentation
	The accompanying condensed consolidated balance sheet as of February 28, 2014, which was derived from audited financial statements, and the unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. These financial statements should be read in conjunction with the audited financial statements and related notes for the fiscal year ended February 28, 2014, included in the Company’s Annual Report on Form 10-K covering such period.
	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, 2014 is referred to as fiscal 2014.
	In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, which are necessary to present fairly the financial position of the Company as of November 30, 2014, the results of its operations for the three and nine month periods ended November 30, 2014 and 2013, and cash flows for the nine month periods ended November 30, 2014 and 2013. These interim results are not necessarily indicative of results for a full year.
	New Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers, issued as a new Topic, Accounting Standards Codification (ASC) Topic 606 ("ASU 2014-09"). The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The premise of the guidance is that a Company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU 2014-09 is effective for us beginning in fiscal 2018 and can be adopted by the Company either retrospectively or as a cumulative-effect adjustment as of the date of adoption. We are currently evaluating the effect that adopting ASU 2014-09 will have on our consolidated results of operations, cash flows and financial position.
	In April 2014, the FASB issued Accounting Standards Update 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). The update changes the criteria for reporting discontinued operations and enhancing convergence of the FASB’s and International Accounting Standard Board’s (IASB) reporting requirements for discontinued operations. ASU 2014-08 is effective for a) all disposals or classifications as held for sale of components of an entity that occur within annual periods beginning on or after December 15, 2014 and interim periods within those years and b) all businesses or nonprofit activities that, on acquisition, are classified as held for sale that occur within the annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals or classifications as held for sale that have not been reported in financial statements previously issued or available for issuance. We do not expect the adoption of ASU 2014-08 to have a significant impact on our condensed consolidated financial statements.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Nov. 30, 2014
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 following table sets forth the computation of basic and diluted earnings per share:
		Three Months ended November 30,				Nine Months Ended November 30,
		2014		2013		2014		2013
		(Unaudited)
		(In thousands except share and per share data)
	Numerator:
	Net income for basic and diluted earnings per common share	$	19,965	$	18,445	$	48,659	$	49,355
	Denominator:
	Denominator for basic earnings per common share–weighted average shares	25,699,772		25,536,918		25,659,892		25,496,219
	Effect of dilutive securities:
	Employee and Director stock awards	93,794		182,960		103,928		186,887
	Denominator for diluted earnings per common share	25,793,566		25,719,878		25,763,820		25,683,106
	Earnings per share basic and diluted:
	Basic earnings per common share	$	0.78	$	0.72	$	1.9	$	1.94
	Diluted earnings per common share	$	0.77	$	0.72	$	1.89	$	1.92

Stockbased_Compensation

Stock-based Compensation	9 Months Ended
	Nov. 30, 2014
Share-based Compensation [Abstract]
Stock-based Compensation	Stock-based Compensation
	The Company has one share-based compensation plan, the 2014 Long Term Incentive 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 1,500,000 shares. As of November 30, 2014 the Company has approximately 1,473,148 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, 2014 is as follows:
		Restricted		Weighted
		Stock  Units		Average  Grant
				Date Fair Value
	Non-Vested Balance as of February 28, 2014	70,352		$	34.95
	Granted	48,616		42.89
	Vested	(16,766	)	23.44
	Forfeited	(12,875	)	40.87
	Non-Vested Balance as of November 30, 2014	89,327		$	40.58
	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, 2014 is as follows:
		Options/SAR’s		Weighted Average
				Exercise  Price
	Outstanding as of February 28, 2014	396,174		$	26.64
	Granted	126,532		43.92
	Exercised	(95,928	)	22.79
	Forfeited	(24,300	)	43.01
	Outstanding as of November 30, 2014	402,478		$	32
	Exercisable as of November 30, 2014	198,600		$	21.03
	Weighted average fair value of options and SARs granted during the period ended November 30, 2014			$	16.94
	The average remaining contractual term for those options and stock appreciation rights outstanding at November 30, 2014 is 5.08 years, with an aggregate intrinsic value of $18.0 million. The average remaining contractual terms for those options and stock appreciation rights that are exercisable as of November 30, 2014 is 3.66 years, with an aggregate intrinsic value of $8.9 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 (the "offering period"). 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, 2014, the Company issued 77,973 shares under the Employee Stock Purchase Plan.
	Share-based compensation expense and related income tax benefits related to all the plans listed above were as follows:
	Period ended November 30,	2014			2013
	Compensation Expense	$	3,342,071		$	2,988,596
	Income tax benefits	$	1,169,725		$	1,046,009
	Unrecognized compensation cost related to stock appreciation rights, restricted stock units and the employee stock purchase plan at November 30, 2014 totals $4,832,716.
	The Company’s policy is to issue shares required under these plans from the Company’s authorized but unissued shares and treasury shares. The shares under the plan were registered on Form S-8, filed with the Securities and Exchange Commission on July 9, 2014.

Segments

Segments	9 Months Ended
	Nov. 30, 2014
Segment Reporting [Abstract]
Segments	Segments
	We have two operating segments, Energy and Galvanizing Services, as defined in our Annual Report on Form 10-K for the year ended February 28, 2014. Information regarding operations and assets by segment is as follows:
			Three Months Ended November 30,						Nine Months Ended November 30,
			2014			2013			2014			2013
			(Unaudited)
			(In thousands)
	Net Sales:
	Energy		$	130,052		$	112,035		$	361,133		$	312,635
	Galvanizing Services		94,781			85,720			273,243			258,077
	Total Net Sales		224,833			197,755			634,376			570,712
	Operating Income (Loss) (a):
	Energy		16,729			11,853			29,422			35,634
	Galvanizing Services		23,701			21,316			68,704			69,059
	Total Segment Operating Income		40,430			33,169			98,126			104,693
	General Corporate Expense (b)		6,771			8,012			13,595			25,670
	Interest Expense		4,099			4,615			12,531			13,744
	Other (Income) Expense, Net (c)		882			(7,370		)	913			(11,852		)
	Total Corporate Expenses		11,752			5,257			27,039			27,562
	Income Before Income Taxes		$	28,678		$	27,912		$	71,087		$	77,131
	Total Assets:
	Energy		$	549,968		$	551,704		$	549,968		$	551,704
	Galvanizing Services		385,217			383,560			385,217			383,560
	Corporate		46,154			53,911			46,154			53,911
			$	981,339		$	989,175		$	981,339		$	989,175
	(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 expense, net includes gains or losses on sale of property, plant and equipment and other (income) expenses.
	Financial Information About Geographical Areas
	Below is a breakdown of selected financial information by geographical area:
			Three Months Ended November 30,						Nine Months Ended November 30,
			2014			2013			2014			2013
			(Unaudited)
			(In thousands)
	Net Sales:
	U.S.		$	177,801		$	164,005		$	516,127		$	460,735
	International		49,068			33,750			120,285			109,977
	Eliminations		(2,036		)	—			(2,036		)	—
	Total Net Sales		$	224,833		$	197,755		$	634,376		$	570,712
			30-Nov-14			28-Feb-14
	Property, Plant and Equipment, Net:
	U.S.		171,209			171,727
	Canada		22,303			23,779
	Other Countries		2,646			2,133
	Total Property, Plant and Equipment, Net		$	196,158		$	197,639

Warranty_Reserves

Warranty Reserves	9 Months Ended
	Nov. 30, 2014
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 2014:
		Warranty Reserve
		(unaudited)
		(in thousands)
	Balance at February 28, 2014	$	1,338
	Warranty costs incurred	(597		)
	Additions charged to income	288
	Balance at May 31, 2014	$	1,029
	Warranty costs incurred	(149		)
	Additions charged to income	747
	Balance at August 31, 2014	$	1,627
	Warranty costs incurred	(86		)
	Additions charged to income	407
	Balance at November 30, 2014	$	1,948

Realignment_Costs_Notes

Realignment Costs (Notes)	9 Months Ended
	Nov. 30, 2014
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Realignment Costs
	As part of AZZ's ongoing efforts to optimize cost and effectiveness, during the second quarter of fiscal 2015, the Company underwent a review of its current management structure with respect to its segment and corporate operations and recorded realignment costs related to severance associated with changes needed to improve management efficiency and accountability. We also reserved for the disposition and write off of certain fixed assets in connection with the realignment. The total cost related to the realignment is estimated to be $4.0 million. One-time severance costs total $1.3 million and are included in Selling, General and Administrative Expense. The loss recognized from the disposition of certain fixed assets total $2.7 million and are included in Costs of Sales. The following table shows changes in the realignment accrual:
		Realignment Accrual
		(unaudited)
		(in thousands)
	Realignment costs accrued	$	3,952
	Realignment costs utilized	(2,986		)
	Balance at August 31, 2014	$	966
	Realignment costs utilized	$	(415	)
	Balance at November 30, 2014	$	551

Acquisitions

Acquisitions	9 Months Ended
	Nov. 30, 2014
Business Combinations [Abstract]
Acquisitions	Acquisitions
	Zalk Steel & Supply Co.
	On June 30, 2014, we completed our acquisition of substantially all the assets of Zalk Steel & Supply Co. (“Zalk Steel”), a Minneapolis, Minnesota-based galvanizing company, for a purchase price of $10.5 million and the assumption of $0.3 million in liabilities.  The Company recorded $3.3 million of goodwill, which has been allocated to the Galvanizing Services Segment, and $3.4 million of intangible assets associated with this acquisition.  The intangible assets associated with the acquisition consist primarily of trade names, customer relationships and non-compete agreements.  These intangible assets are being amortized on a straight-line basis over a period of 19 years for customer relationships, 19 years for trade names, and 5 years for non-compete agreements.  Zalk Steel was acquired to expand AZZ's existing geographic footprint in North America. The goodwill arising from this acquisition was allocated to the Galvanizing Segment and is deductible for income tax purposes.
	Unaudited pro forma results of operations assuming the Zalk Steel acquisition had taken place at the beginning of each period are not provided because the historical operating results of Zalk Steel were not significant and pro forma results would not be significantly different from reported results for the periods presented.
	Aquilex Specialty Repair and Overhaul, LLC
	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 (“WSI”), pursuant to the terms of the Securities Purchase Agreement dated February 22, 2013 (the “Purchase Agreement”). WSI provides the energy industry with specialty repair and overhaul solutions designed to improve mechanical integrity and extend component life. WSI 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. WSI's offering is differentiated through advanced proprietary tooling and process technologies delivered by a uniquely skilled specialized workforce. The acquisition was part of AZZ's strategy to expand its offerings in the Energy Segment and to enhance AZZ's presence in the power generation market.
	The Purchase Agreement provided for AZZ's acquisition of all equity securities of WSI 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 WSI took place on March 1, 2013 for the income statements for the three and nine month periods ended November 30, 2013. These amounts have been calculated after applying the Company’s accounting policies and adjusting the results of WSI to reflect the decrease in interest expense that would have occurred under the new credit agreement entered into in connection with the acquisition of WSI 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, 2013, together with consequential tax effects. In addition, supplemental pro forma earnings were adjusted to exclude acquisition related costs of approximately $0.8 million and $4.3 million incurred during the three and nine month periods ended November 30, 2013, respectively.
			Three Months Ended November 30,				Nine Months Ended November 30,
			2014		2013		2014		2013
			(In thousands, except for per share amounts)
	Net Sales		$	224,833	$	197,755	$	634,376	$	593,807
	Net Income		$	19,965	$	19,212	$	48,659	$	52,659
	Earnings Per Common Share
	Basic Earnings Per Share		$	0.78	$	0.75	$	1.9	$	2.07
	Diluted Earnings Per Share		$	0.77	$	0.75	$	1.89	$	2.05
	Using the acquisition method of accounting, the total purchase price was allocated to WSI's net identifiable assets based on their estimated fair values as of March 29, 2013, the date AZZ acquired control of WSI. The excess of the purchase price over the net identifiable assets was recorded as goodwill. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition:
		($ in thousands)
	Current Assets	$	78,619
	Property and Equipment	27,669
	Intangible Assets	87,100
	Goodwill	109,636
	Other Assets	205
	Total Assets Acquired	303,229
	Current Liabilities	(27,527		)
	Net Assets Acquired	$	275,702
	All of the $87.1 million of intangible assets acquired are assigned to customer related intangibles and technology. The goodwill recorded in connection with the acquisition is primarily attributable to a larger geographic footprint and also synergies expected to arise. These intangible assets are being amortized over 14 years for customer related intangibles, 19 years for tradenames and 3-9 years for technology on a straight line basis. Goodwill of $109.6 million arising from the acquisition has been allocated to the Energy Segment and will not be deductible for income tax purposes.
	ASSET		LIFE
	Technology		3-9 years
	Customer Related Intangibles		14 years
	Tradename		19 years

Subsequent_Events_Notes

Subsequent Events (Notes)	9 Months Ended
	Nov. 30, 2014
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events
	None.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Nov. 30, 2014
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,
		2014		2013		2014		2013
		(Unaudited)
		(In thousands except share and per share data)
	Numerator:
	Net income for basic and diluted earnings per common share	$	19,965	$	18,445	$	48,659	$	49,355
	Denominator:
	Denominator for basic earnings per common share–weighted average shares	25,699,772		25,536,918		25,659,892		25,496,219
	Effect of dilutive securities:
	Employee and Director stock awards	93,794		182,960		103,928		186,887
	Denominator for diluted earnings per common share	25,793,566		25,719,878		25,763,820		25,683,106
	Earnings per share basic and diluted:
	Basic earnings per common share	$	0.78	$	0.72	$	1.9	$	1.94
	Diluted earnings per common share	$	0.77	$	0.72	$	1.89	$	1.92

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	9 Months Ended
	Nov. 30, 2014
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, 2014 is as follows:
		Restricted		Weighted
		Stock  Units		Average  Grant
				Date Fair Value
	Non-Vested Balance as of February 28, 2014	70,352		$	34.95
	Granted	48,616		42.89
	Vested	(16,766	)	23.44
	Forfeited	(12,875	)	40.87
	Non-Vested Balance as of November 30, 2014	89,327		$	40.58
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, 2014 is as follows:
		Options/SAR’s		Weighted Average
				Exercise  Price
	Outstanding as of February 28, 2014	396,174		$	26.64
	Granted	126,532		43.92
	Exercised	(95,928	)	22.79
	Forfeited	(24,300	)	43.01
	Outstanding as of November 30, 2014	402,478		$	32
	Exercisable as of November 30, 2014	198,600		$	21.03
	Weighted average fair value of options and SARs granted during the period ended November 30, 2014			$	16.94
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,	2014			2013
	Compensation Expense	$	3,342,071		$	2,988,596
	Income tax benefits	$	1,169,725		$	1,046,009

Warranty_Reserves_Tables

Warranty Reserves (Tables)	9 Months Ended
	Nov. 30, 2014
Product Warranties Disclosures [Abstract]
Changes in the warranty reserves	The following table shows changes in the warranty reserves since the end of fiscal 2014:
		Warranty Reserve
		(unaudited)
		(in thousands)
	Balance at February 28, 2014	$	1,338
	Warranty costs incurred	(597		)
	Additions charged to income	288
	Balance at May 31, 2014	$	1,029
	Warranty costs incurred	(149		)
	Additions charged to income	747
	Balance at August 31, 2014	$	1,627
	Warranty costs incurred	(86		)
	Additions charged to income	407
	Balance at November 30, 2014	$	1,948

Realignment_Costs_Tables

Realignment Costs (Tables)	9 Months Ended
	Nov. 30, 2014
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table shows changes in the realignment accrual:
		Realignment Accrual
		(unaudited)
		(in thousands)
	Realignment costs accrued	$	3,952
	Realignment costs utilized	(2,986		)
	Balance at August 31, 2014	$	966
	Realignment costs utilized	$	(415	)
	Balance at November 30, 2014	$	551

Acquisitions_Tables

Acquisitions (Tables)	9 Months Ended
	Nov. 30, 2014
Business Acquisition [Line Items]
Summary of Acquisitions
			Three Months Ended November 30,				Nine Months Ended November 30,
			2014		2013		2014		2013
			(In thousands, except for per share amounts)
	Net Sales		$	224,833	$	197,755	$	634,376	$	593,807
	Net Income		$	19,965	$	19,212	$	48,659	$	52,659
	Earnings Per Common Share
	Basic Earnings Per Share		$	0.78	$	0.75	$	1.9	$	2.07
	Diluted Earnings Per Share		$	0.77	$	0.75	$	1.89	$	2.05
Aquilex [Member]
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
		($ in thousands)
	Current Assets	$	78,619
	Property and Equipment	27,669
	Intangible Assets	87,100
	Goodwill	109,636
	Other Assets	205
	Total Assets Acquired	303,229
	Current Liabilities	(27,527		)
	Net Assets Acquired	$	275,702
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]
	ASSET		LIFE
	Technology		3-9 years
	Customer Related Intangibles		14 years
	Tradename		19 years

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Numerator:
Net income for basic and diluted earnings per common share	$19,965,321	$18,445,155	$48,659,422	$49,354,707
Denominator:
Denominator for basic earnings per common share-weighted average shares (shares)	25,699,772	25,536,918	25,659,892	25,496,219
Effect of dilutive securities:
Employee and Director stock awards (shares)	93,794	182,960	103,928	186,887
Denominator for diluted earnings per common share (shares)	25,793,566	25,719,878	25,763,820	25,683,106
Earnings per share basic and diluted:
Basic earnings per Common share (usd per share)	$0.78	$0.72	$1.90	$1.94
Diluted earnings per common share (usd per share)	$0.77	$0.72	$1.89	$1.92

Stockbased_Compensation_Detail

Stock-based Compensation (Details) (Restricted Stock Units (RSUs) [Member], USD $)	9 Months Ended
	Nov. 30, 2014
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, 2014	70,352
Granted (shares)	48,616
Vested (shares)	-16,766
Forfeited (shares)	-12,875
Non-Vested Balance as of November 30, 2014	89,327
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, 2014	$34.95
Granted, Weighted Average Grant Date Fair Value (usd per share)	$42.89
Vested, Weighted Average Grant Date Fair Value (usd per share)	$23.44
Forfeited, Weighted Average Grant Date Fair Value (usd per share)	$40.87
Non-Vested Balance as of November 30, 2014	$40.58

Stockbased_Compensation_Detail1

Stock-based Compensation (Details 1) (Stock Appreciation Rights SARS and Stock Option [Member], USD $)	9 Months Ended
	Nov. 30, 2014
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, 2014	396,174
Granted (shares)	126,532
Exercised (shares)	-95,928
Forfeited (shares)	-24,300
Outstanding as of November 30, 2014	402,478
Exercisable as of November 30, 2014	198,600
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instrument, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding as of February 28, 2014	$26.64
Granted, Weighted Average Exercise Price (usd per share)	$43.92
Exercised, Weighted Average Exercise Price (usd per share)	$22.79
Forfeited, Weighted Average Exercise Price (usd per share)	$43.01
Outstanding as of November 30, 2014	$32
Exercisable as of November 30, 2014	$21.03
Weighted average fair value of options and SARs granted during the period ended November 30, 2014	$16.94

Stockbased_Compensation_Detail2

Stock-based Compensation (Details 2) (USD $)	9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
Share based compensation expense and related income tax benefits
Compensation Expense	$3,342,071	$2,988,596
Income tax benefits	$1,169,725	$1,046,009

Stockbased_Compensation_Detail3

Stock-based Compensation (Details Textual) (USD $)	9 Months Ended
	Nov. 30, 2014
	share_based_compensation_plan
Share Based Compensation (Textual) [Abstract]
Number Of Share-Based Compensation Plans	1
Shares authorized (shares)	1,500,000
Share for future issuance (shares)	1,473,148
Unrecognized compensation cost	$4,832,716
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
Share-based Compensation Arrangement, By Share-based Payment Award, Common Shares Estimated To Be Issued	77,973
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	5 years 0 months 31 days
Outstanding Aggregate intrinsic value	18,000,000
Average remaining contractual term	3 years 7 months 28 days
Aggregate remaining intrinsic value	$8,900,000

Segments_Details

Segments (Details) (USD $)	3 Months Ended				9 Months Ended
	Nov. 30, 2014		Nov. 30, 2013		Nov. 30, 2014		Nov. 30, 2013		Feb. 28, 2014	Aug. 31, 2013
	segment
Segment Reporting Information [Line Items]
Property, Plant and Equipment, Net	$196,157,668				$196,157,668				$197,639,229
Number of operating segments	2
Operations and assets by segment
Net Sales	224,833,465		197,755,332		634,375,500		570,712,180
Operating Income	32,927,777		25,247,660		83,731,667		79,002,220
General Corporate Expense	6,770,791	[1]	8,012,379	[1]	13,595,432	[1]	25,670,173	[1]
Interest Expense	4,099,062		4,614,787		12,531,398		13,743,886
Other (Income) Expense, Net	881,707	[2]	-7,370,167	[2]	912,494	[2]	-11,851,674	[2]
Total expenses	11,751,560		5,256,999		27,039,324		27,562,385
Income Before Income Taxes	28,678,376		27,911,999		71,087,092		77,130,974
Assets	981,339,357				981,339,357				953,253,035	989,175,461
Energy [Member]
Operations and assets by segment
Net Sales	130,052,065		112,035,365		361,132,711		312,634,887
Operating Income	16,729,216	[3]	11,852,775	[3]	29,422,249	[3]	35,633,812	[3]
Assets	549,968,132				549,968,132					551,704,437
Galvanizing Services [Member]
Operations and assets by segment
Net Sales	94,781,400		85,719,967		273,242,789		258,077,293
Operating Income	23,700,720	[3]	21,316,223	[3]	68,704,167	[3]	69,059,547	[3]
Assets	385,217,371				385,217,371					383,559,945
Operating Segments [Member]
Operations and assets by segment
Operating Income	40,429,936	[3]	33,168,998	[3]	98,126,416	[3]	104,693,359	[3]
Corporate [Member]
Operations and assets by segment
Assets	46,153,854				46,153,854					53,911,079
UNITED STATES
Segment Reporting Information [Line Items]
Property, Plant and Equipment, Net	171,208,819				171,208,819				171,726,976
Operations and assets by segment
Net Sales	177,801,000		164,005,000		516,127,000		460,735,000
CANADA
Segment Reporting Information [Line Items]
Property, Plant and Equipment, Net	22,302,748				22,302,748				23,779,595
Other Countries [Member]
Segment Reporting Information [Line Items]
Property, Plant and Equipment, Net	2,646,101				2,646,101				2,132,658
International [Member]
Operations and assets by segment
Net Sales	49,068,000		33,750,000		120,285,000		109,977,000
Geography Eliminations [Member]
Operations and assets by segment
Net Sales	($2,036,000)		$0		($2,036,000)		$0
[1]	General Corporate Expense consists of selling, general and administrative expenses that are not specifically identifiable to a segment.
[2]	Other expense, net includes gains or losses on sale of property, plant and equipment and other (income) expenses.
[3]	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.

Warranty_Reserves_Details

Warranty Reserves (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Nov. 30, 2014	Aug. 31, 2014	31-May-14
Movement in Standard Product Warranty Accrual [Roll Forward]
Opening Balance	$1,627	$1,029	$1,338
Warranty costs incurred	86	149	597
Closing Balance	1,948	1,627	1,029
Product Warranty Accrual, Warranties Issued	$407	$747	$288

Realignment_Costs_Details

Realignment Costs (Details) (USD $)	3 Months Ended
	Nov. 30, 2014	Aug. 31, 2014	Jun. 01, 2014
Restructuring and Related Activities [Abstract]
Restructuring Reserve	$551,000	$966,000	$3,952,366
Restructuring Charges	($414,812)	($2,986,016)

Acquisitions_Details

Acquisitions (Details) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013	Jun. 30, 2014
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					$300,000
Aquilex [Member]
Business Acquisition, Pro Forma Information [Abstract]
Net Sales	224,833,465	197,755,000	634,375,500	593,807,000
Net Income	$19,965,321	$19,212,000	$48,659,422	$52,659,000
Earnings Per Common Share
Basic earnings per share (usd per share)	$0.78	$0.75	$1.90	$2.07
Diluted Earnings Per Share (usd per share)	$0.77	$0.75	$1.89	$2.05

Acquisitions_Details_1

Acquisitions (Details 1) (USD $)	Nov. 30, 2014	Feb. 28, 2014	Mar. 29, 2013	Jun. 02, 2012
Business Acquisition [Line Items]
Goodwill	$281,230,194	$278,556,040
Aquilex [Member]
Business Acquisition [Line Items]
Current Assets			78,619,000
Property and Equipment			27,669,000
Intangible Assets			87,100,000	87,100,000
Goodwill			109,636,000
Other Assets			205,000
Total Assets Acquired			303,229,000
Current Liabilities			-27,527,000
Net Assets Acquired			$275,702,000

Acquisitions_Details_Textual

Acquisitions (Details Textual) (USD $)	0 Months Ended		9 Months Ended
	Jun. 30, 2014	Mar. 29, 2013	Nov. 30, 2014	Feb. 28, 2014	Jun. 02, 2012
Business Acquisition [Line Items]
Goodwill			281,230,194	$278,556,040
Zalk Steel [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	3,400,000
Payments to Acquire Businesses, Gross	10,500,000
Goodwill	3,300,000
Aquilex [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		87,100,000			87,100,000
Payments to Acquire Businesses, Gross		275,700,000
Business Acquisition Amount of Payment Due at Close under Purchase Agreement		271,800,000
Additional payment on performance		3,900,000
Acquisiton Related Costs Excluded From Pro Form Earnings		800,000
Goodwill		109,636,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		$303,229,000
Customer Relationships [Member] | Zalk Steel [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			19 years
Customer-Related Intangible Assets [Member] | Aquilex [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			14 years
Trade Names [Member] | Zalk Steel [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			19 years
Trade Names [Member] | Aquilex [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			19 years
Noncompete Agreements [Member] | Zalk Steel [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			5 years
Minimum [Member] | Developed Technology Rights [Member] | Aquilex [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			3 years
Maximum [Member] | Developed Technology Rights [Member] | Aquilex [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			9 years