AZZ (AZZ) 10-K/A 19 Apr 18 2017 FY Annual report (amended) Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Feb. 28, 2017	Apr. 10, 2017	Aug. 31, 2016
Document and Entity Information [Abstract]
Document Type	10-K/A
Amendment Flag	true
Document Period End Date	Feb. 28, 2017
Entity Registrant Name	AZZ INC
Entity Central Index Key	8,947
Current Fiscal Year End Date	--02-28
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		26,020,582
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1,704,959,032
Amendment Description	This Amendment No. 1 on Form 10-K/A (this “Form 10-K/A") amends and restates certain items noted below in the Annual Report on Form 10-K of AZZ Inc. (the “Company”) for the fiscal year ended February 28, 2017, as originally filed with the Securities and Exchange Commission on April 20, 2017 (the “Original Filing”). This Form 10-K/A amends the Original Filing to reflect the correction of an error in the previously reported fiscal year 2015 through fiscal year 2017 financial statements related to the Company’s revenue recognition practices within its Energy Segment. See Note 2 to the Consolidated Financial Statements included in Item 8 for additional information and a reconciliation of the previously reported amounts to the restated amounts.

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Net Sales	$ 863,538	$ 889,400	$ 819,692
Costs and Expenses
Cost of Sales	658,206	661,282	612,919
Gross profit	205,332	228,118	206,773
Selling, General and Administrative	106,424	107,823	98,871
Operating Income (Loss)	98,908	120,295	107,902
Interest Expense	14,732	15,155	16,561
Other Expense (Income) - net	(1,197)	3,092	2,659
Gain (Loss) on Disposition of Property Plant Equipment	(76)	327	2,525
Income before income taxes	85,297	102,375	91,207
Income Tax Expense	24,033	26,831	25,591
Net Income	$ 61,264	$ 75,544	$ 65,616
Earnings Per Common Share
Basic Earnings Per Share (usd per share)	$ 2.36	$ 2.93	$ 2.56
Diluted Earnings Per Share (usd per share)	$ 2.35	$ 2.91	$ 2.55
Weighted average number common shares (shares)	25,965,000	25,800,000	25,676,000
Weighted average number common shares and potentially dilutive common shares (shares)	26,097,000	25,937,000	25,778,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Net Income	$ 61,264	$ 75,544	$ 65,616
Other Comprehensive Income (Loss):
Unrealized Translation Gains (Losses)	1,520	(7,674)	(11,760)
Interest Rate Swap, Net of Income Tax of $29, $29 and $29, respectively.	(54)	(54)	(54)
Other Comprehensive Income (Loss)	1,466	(7,728)	(11,814)
Comprehensive Income	$ 62,730	$ 67,816	$ 53,802

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Statement of Comprehensive Income [Abstract]
Interest rate swap, income tax	$ (29)	$ (29)	$ (29)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 29, 2016
Current assets:
Cash and cash equivalents	$ 11,302	$ 40,191
Accounts receivable, net of allowance for doubtful accounts of $347 and $264 in 2017 and 2016, respectively	138,470	131,416
Inventories - net	94,007	77,131
Costs and estimated earnings in excess of billings on uncompleted contracts	50,262	63,482
Deferred income tax assets	249	200
Prepaid expenses and other	2,762	3,105
Total current assets	297,052	315,525
Property, plant, and equipment, net	228,610	226,333
Goodwill	306,579	292,527
Intangibles and other assets	146,113	153,816
Total Assets	978,354	988,201
Current Liabilities:
Accounts payable	49,816	46,748
Income tax payable	778	2,697
Accrued salaries and wages	23,429	30,473
Other accrued liabilities	24,042	26,137
Customer advance payment	1,459	0
Billings in excess of costs and estimated earnings on uncompleted contracts	20,617	20,302
Long-term debt due within one year	16,629	23,192
Total Current Liabilities	136,770	149,549
Long-term debt due after one year	254,800	302,429
Deferred income tax liabilities	53,648	51,853
Total liabilities	$ 445,218	$ 503,831
Common Stock, Shares, Issued	25,963,679	25,873,690
Shareholders' Equity:
Common Stock, $1.00 par value; 100,000 shares authorized; 25,964 shares issued and outstanding at February 28, 2017 and 25,874 at February 29, 2016	$ 25,964	$ 25,874
Capital in excess of par value	37,739	35,148
Retained earnings	498,527	453,908
Accumulated other comprehensive income (loss)	(29,094)	(30,560)
Total Shareholders’ Equity	533,136	484,370
Total Liabilities and Shareholders’ Equity	$ 978,354	$ 988,201

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 29, 2016
Accounts Receivable, Allowance for Doubtful Accounts	$ 347	$ 264
Common Stock, Par Value (usd per share)	$ 1	$ 1
Common Stock, Shares Authorized (shares)	100,000,000	100,000,000
Common Stock, Shares, Issued	25,963,679	25,873,690
Common Stock, Shares, Outstanding	25,963,679	25,873,690

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Cash Flows From Operating Activities:
Net Income	$ 61,264	$ 75,544	$ 65,616
Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities:
Depreciation	33,400	31,200	28,100
Depreciation, Amortization and Accretion, Net	50,357	47,417	46,089
Deferred income tax expense	1,714	1,960	16,222
Share-based compensation expense	5,870	4,538	4,080
Amortization of deferred debt issuance costs	1,262	1,347	1,431
Provision for doubtful accounts	48	(1,072)	458
Gain (Loss) on Disposition of Assets	6,602	286	2,651
Net (gain) loss on insurance settlement or sale of property, plant and equipment	76	(327)	(2,525)
Effects of changes in operating assets and liabilities, net of acquisitions:
Accounts Receivable	(4,912)	(843)	(9,382)
Inventories	(13,754)	(2,052)	(3,363)
Prepaid expenses and other assets	(1,977)	1,996	5,543
Net change in billings related to costs and estimated earnings on uncompleted contracts	13,592	7,276	(13,823)
Accounts payable	1,245	(2,236)	11,025
Other accrued liabilities and income taxes payable	(10,211)	9,755	(5,865)
Net cash provided by operating activities:	111,176	143,589	118,157
Cash flows from investing activities:
Proceeds from the sale or insurance settlement of property, plant, and equipment	769	1,137	1,330
Acquisition of subsidiaries, net of cash acquired	(22,679)	(60,584)	(11,518)
Purchases of property, plant and equipment	(41,434)	(39,861)	(29,377)
Net cash used in investing activities:	(63,344)	(99,308)	(39,565)
Cash flows from financing activities:
Tax benefits from stock options exercised	0	1,025	259
Payments on revolving loan	(211,000)	(170,561)	(57,905)
Proceeds from Lines of Credit	179,500	181,481	10,977
Proceeds from long-term debt	(23,192)	(21,786)	(20,848)
Cash dividends paid	(16,645)	(15,482)	(14,897)
Net cash provided by (used in) financing activities	(76,619)	(25,323)	(82,414)
Payments for Repurchase of Common Stock	5,282	0	0
Effect of exchange rate changes on cash	(102)	(1,294)	(1,216)
Net increase (decrease) in cash and cash equivalents	(28,889)	17,664	(5,038)
Cash and cash equivalents at beginning of year	40,191	22,527	27,565
Cash and cash equivalents at end of year	11,302	40,191	22,527
Cash paid during the year for:
Interest	13,780	14,228	15,613
Income taxes	$ 19,857	$ 21,574	$ 15,264

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance, beginning balance (shares) at Feb. 28, 2014		25,577
Balance, beginning balance at Feb. 28, 2014	$ 379,640	$ 25,577	$ 21,954	$ 343,127	$ (11,018)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation (shares)		16
Stock compensation	4,080	$ 16	4,064
Stock Issued During Period, Shares, Restricted Stock Award, Gross		21
Restricted Stock Units	(476)	$ 21	(497)
Stock Issued for SARs, Shares		40
Stock Issued for SARs	(331)	$ 40	(371)
Employee Stock Purchase Plan (shares)		78
Employee Stock Purchase Plan	2,375	$ 78	2,297
Retirement of treasury shares	(259)		(259)
Cash dividend paid	14,897			14,897
Net income	65,616			65,616	0
Foreign currency translation	(11,760)				(11,760)
Interest rate swap, net of $29,205 of income tax	(54)				(54)
Balance, ending balance (shares) at Feb. 28, 2015		25,732
Balance, ending balance at Feb. 28, 2015	424,452	$ 25,732	27,706	393,846	(22,832)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation (shares)		15
Stock compensation	4,538	$ 15	4,523
Stock Issued During Period, Shares, Restricted Stock Award, Gross		17
Restricted Stock Units	(373)	$ 17	(390)
Stock Issued for SARs, Shares		41
Stock Issued for SARs	(91)	$ 41	(132)
Employee Stock Purchase Plan (shares)		69
Employee Stock Purchase Plan	2,485	$ 69	2,416
Retirement of treasury shares	(1,025)		(1,025)	0
Cash dividend paid	15,482			15,482
Net income	75,544			75,544	0
Foreign currency translation	(7,674)				(7,674)
Interest rate swap, net of $29,205 of income tax	(54)				(54)
Balance, ending balance (shares) at Feb. 29, 2016		25,874
Balance, ending balance at Feb. 29, 2016	484,370	$ 25,874	35,148	453,908	(30,560)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation (shares)		13
Stock compensation	5,870	$ 13	5,857
Stock Issued During Period, Shares, Restricted Stock Award, Gross		25
Restricted Stock Units	(580)	$ 25	(605)
Stock Issued for SARs, Shares		81
Stock Issued for SARs	(241)	$ 81	(322)
Employee Stock Purchase Plan (shares)		71
Employee Stock Purchase Plan	2,914	$ 71	2,843
Stock Repurchased and Retired During Period, Shares		(100)
Stock Repurchased and Retired During Period, Value	(5,282)	$ (100)	(5,182)
Cash dividend paid	16,645			16,645
Net income	61,264
Foreign currency translation	1,520				1,520
Interest rate swap, net of $29,205 of income tax	(54)				(54)
Balance, ending balance (shares) at Feb. 28, 2017		25,964
Balance, ending balance at Feb. 28, 2017	$ 533,136	$ 25,964	$ 37,739	$ 498,527	$ (29,094)

Consolidated Statement of Shar9

Consolidated Statement of Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Statement of Stockholders' Equity [Abstract]
Interest rate swap, income tax	$ (29)	$ (29)	$ (29)

Summary of Significant Accounti

Summary of Significant Accounting Policies (Notes)	12 Months Ended
	Feb. 28, 2017
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Organization -AZZ Inc. (the “Company” “AZZ” or “We”) operates primarily in the United States of America and Canada and has recently begun operating in China, Brazil, Poland and the Netherlands. Information about the Company's operations by segment is included in Note 14 to the consolidated financial statements. Basis of consolidation —The consolidated financial statements were prepared in accordance with the accounting principles generally accepted in the United States of America and include the accounts of the Company and its wholly owned subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation. Use of estimates —The preparation of the financial statements in conformity with generally accepted accounting principles in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Concentrations of credit risk —Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The Company maintains cash and cash equivalents with various financial institutions. These financial institutions are located throughout the United States and Canada, as well as Europe, China and Brazil. The Company's policy is designed to limit exposure to any one institution. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company's banking relationships and has not experienced any losses in such accounts. We believe we are not exposed to any significant credit risk related to cash and cash equivalents. Concentrations of credit risk with respect to trade accounts receivable are limited due to the Company’s diversity by virtue of two operating segments, the number of customers, and the absence of a concentration of trade accounts receivable in a small number of customers. The Company performs continuous evaluations of the collectability of trade accounts receivable and allowance for doubtful accounts based upon historical losses, economic conditions and customer specific events. After all collection efforts are exhausted and an account is deemed uncollectible, it is written off against the allowance for doubtful accounts. Collateral is usually not required from customers as a condition of sale. Revenue recognition —The Company recognizes revenue for the Energy Segment upon transfer of title and risk to customer or based upon the percentage of completion method of accounting for electrical products built to customer specifications and services under long-term contracts. We typically recognize revenue for the Galvanizing Segment at completion of the service unless we specifically agree with the customer to hold its material for a predetermined period of time after the completion of the galvanizing process and, in that circumstance, we invoice and recognize revenue upon shipment. Customer advanced payments presented in the balance sheets arise from advanced payments received from our customers prior to shipment of the product and are not related to revenue recognized under the percentage of completion method. The extent of progress for revenue recognized using the percentage of completion method is measured by the ratio of contract costs incurred to date to total estimated contract costs at completion. Contract costs include direct labor and material and certain indirect costs. Selling, general and administrative costs are charged to expense as incurred. Provisions for estimated losses, if any, on uncompleted contracts are made in the period in which such losses are able to be determined. The assumptions made in determining the estimated cost could differ from actual performance resulting in a different outcome for profits or losses than anticipated. Cash and cash equivalents —The Company considers cash and cash equivalents to include cash on hand, deposits with banks and all highly liquid investments with an original maturity of three months or less. Inventories —Cost is determined principally using a weighted-average method for the Energy Segment and the first-in-first-out (FIFO) method for the Galvanizing Segment. Property, plant and equipment —For financial reporting purposes, depreciation is computed using the straight-line method over the estimated useful lives of the related assets as follows: Buildings and structures 10-25 years Machinery and equipment 3-15 years Furniture and fixtures 3-15 years Automotive equipment 3 years Computers and software 3 years Maintenance and repairs are charged to expense as incurred; renewals and betterments that significantly extend the useful life of the asset are capitalized. Long-lived assets, intangible assets and goodwill —Purchased intangible assets included on the balance sheets are comprised of customer lists, backlogs, engineering drawings and non-compete agreements. Such intangible assets are being amortized using the straight-line method over the estimated useful lives of the assets ranging from two to nineteen years. The Company records impairment losses on long-lived assets, including identifiable intangible assets, when events and circumstances indicate that the assets might be impaired and the undiscounted projected cash flows associated with those assets are less than their carrying amount. In those situations, impairment loss on a long-lived asset is measured based on the excess of the carrying amount of the asset over the asset’s fair value. For goodwill, the Company performs an annual impairment test on December 31st of each year or as indicators are present. The test is calculated using the anticipated future cash flows after tax from our operating segments, which includes the impact of our corporate related expenses. Based on the present value of the future cash flows, we determine whether impairment may exist. A significant change in projected cash flows or cost of capital for future years could result in an impairment of goodwill in future years. Variables impacting future cash flows include, but are not limited to, the level of customer demand for and response to products and services we offer to the power generation market, the electrical transmission and distribution markets, the general industrial market and the hot dip galvanizing market; changes in economic conditions of these various markets; raw material and natural gas costs and availability of experienced labor and management to implement our growth strategies. As of February 28, 2017, no impairment of long-lived assets, intangible assets or goodwill was determined. Debt issuance costs —Debt issue costs related to the revolver are included in other assets and are amortized using the effective interest rate method over the term of the debt. Debt issue costs related to debt other than the revolver are netted with total debt due after one year and are amortized using the effective interest rate method over the term of the debt. Income taxes —We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. We recognize deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. As applicable, we record uncertain tax positions in accordance with GAAP on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. We currently do not have any unrecognized tax benefits to record related to U.S. federal, state or, foreign tax exposure. We continue to review our tax exposure for any significant need to record unrecognized tax benefits in the future. The Company is subject to taxation in the U.S. and various state, provincial and local and foreign jurisdictions. With few exceptions, as of fiscal 2017, the Company is no longer subject to U.S. federal or state examinations by tax authorities for years before fiscal 2014. Share-based compensation —The Company has granted restricted stock units awards, performance share units and stock appreciation rights for a fixed number of shares to employees and directors. A discussion of share-based compensation can be found in Note 12 to the Consolidated Financial Statements. Financial instruments —Fair value is an exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Hierarchy Levels 1, 2, or 3 are terms for the priority of inputs to valuation techniques used to measure fair value. Hierarchy Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Hierarchy Level 2 inputs are inputs other than quoted prices included with Level 1 that are directly or indirectly observable for the asset or liability. Hierarchy Level 3 inputs are inputs that are not observable in the market. The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and debt. Our financial instruments are presented at fair value in our consolidated balance sheets, with the exception of our outstanding Senior Notes. For fiscal 2017 and 2016 the fair value of our senior outstanding notes, as described in Note 13 to the Consolidated Financial Statements, was approximately $144.4 million and $154.7 million , respectively. These fair values were determined using the discounted cash flow at the market rate as well as the applicable market interest rates classified as Level 2 inputs. During fiscal 2017 a principal payment was made in the amount of $14.3 million related to the $100.0 million unsecured Senior Notes due March 31, 2018, which accounts for a portion of the decrease in fair value for the compared periods partially offset by increased market interest rates. Derivative financial instruments —From time to time, the Company uses derivatives to manage interest rate risk. The Company’s policy is to use derivatives for risk management purposes only, which includes maintaining the ratio between the Company’s fixed and floating rate debt obligations that management deems appropriate, and prohibits entering into such contracts for trading purposes. The Company enters into derivatives only with counterparties (primarily financial institutions) which have substantial financial wherewithal to minimize credit risk. As the result of the recent global financial crisis, a number of financial institutions have failed or required government assistance, and counterparties considered substantial may develop credit risk. The amount of gains or losses from the use of derivative financial instruments has not been and is not expected to be material to the Company’s consolidated financial statements. As of February 28, 2017 , the Company had no derivative financial instruments. Warranty reserves —Within other accrued liabilities, a reserve has been established to provide for the estimated future cost of warranties on a portion of the Company’s delivered products. Management periodically reviews the reserves, and adjustments are made accordingly. A provision for warranty on products is made on the basis of the Company’s historical experience and identified warranty issues. Warranties cover such factors as non-conformance to specifications and defects in material and workmanship. The following is a roll-forward of amounts accrued for warranties (in thousands): Balance at February 28, 2014 $ 1,338 Warranty costs incurred (1,294 ) Additions charged to income 2,243 Balance at February 28, 2015 $ 2,287 Warranty costs incurred (2,570 ) Additions charged to income 3,198 Balance at February 29, 2016 $ 2,915 Warranty costs incurred (1,947 ) Additions charged to income 1,130 Balance at February 28, 2017 $ 2,098 Accumulated Other Comprehensive Income (Loss) —Accumulated Other Comprehensive Income (Loss) includes foreign currency translation adjustments from our foreign subsidiaries. Foreign Currency Translation —The local currency is the functional currency for the Company’s foreign operations. Related assets and liabilities are translated into United States dollars at exchange rates existing at the balance sheet date, and revenues and expenses are translated at weighted-average exchange rates. The foreign currency translation adjustment is recorded as a separate component of shareholders’ equity and is included in accumulated other comprehensive income (loss). Accruals for Contingent Liabilities — The amounts we record for estimated claims, such as self-insurance programs, warranty, environmental and other contingent liabilities, requires us to make judgments regarding the amount of expenses that will ultimately be incurred. We use past history and experience and other specific circumstances surrounding these claims in evaluating the amount of liability that should be recorded. Actual results may be different than what we estimate. In connection with our acquisition of NLI on June 1, 2012, the Company had a contingent obligation to make an additional payment of up to $20.0 million based on the future financial performance of the NLI business. During fiscal 2015, the Company deemed this additional payment not probable or likely to occur and the accrual recorded at the end of fiscal 2014 of $9.1 million was reversed. The accrual reversal was recorded to selling, general and administrative expense. As of June 2016, the measurement period for this contingency payment has expired and no additional payment was made. Accounting Standards Recently Adopted In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The amendment in this ASU affects all organizations that issue share-based payment awards to employees and is intended to simplify several aspects of the accounting for these awards, including income tax consequences, classification of awards as either equity or liabilities, classification on the statement of cash flows, and allowing an accounting policy election to account for forfeitures as they occur. As permitted by ASU 2016-09, the Company elected to early adopt ASU 2016-09 in the quarter ended August 31, 2016 with an effective date of March 1, 2016. As a result of the adoption, a tax benefit of $1.3 million was recorded in the quarter ended August 31, 2016. The tax benefit was driven primarily by the exercise, during the first six months of fiscal 2017, of share-based awards issued prior to fiscal 2014. The adoption was on a prospective basis and therefore had no impact on prior years. In April 2015, the FASB issued ASU 2015-03, "Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs." ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Previously, debt issuance costs were recognized as deferred charges and recorded as other assets. In August 2015, the FASB issued ASU 2015-15, "Interest-Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements." ASU 2015-15 allows an entity to defer and present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The guidance is effective for annual and interim periods beginning after December 15, 2015 with early adoption permitted and is to be implemented retrospectively. Effective March 1, 2016, we adopted these standards which required the retroactive application and represented a change in accounting principle. The unamortized debt issuance costs of approximately $1.4 million associated with a portion of our outstanding debt, which were previously presented as a component of intangibles and other assets on the consolidated balance sheets, are reflected as a reduction to the carrying liability of our outstanding debt. Debt issuance costs associated with our revolving line of credit remain classified in intangibles and other assets and continue to be charged to interest expense over the term of the agreement. As a result of this change in accounting principal, the consolidated balance sheet as of February 29, 2016 was adjusted as follows: February 29, 2016 Previously Reported Effect of Adoption of Accounting Principle As Adjusted (in thousands) Assets: Intangibles and other assets $ 155,177 $ (1,361 ) $ 153,816 Total assets $ 983,371 $ (1,361 ) $ 982,010 Liabilities: Debt due after one year $ 303,790 $ (1,361 ) $ 302,429 Total liabilities $ 502,155 $ (1,361 ) $ 500,794 New Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, "Leases." The standard requires a lessee to recognize a liability to make lease payments and a right-of-use asset representing a right to use the underlying asset for the lease term on the balance sheet. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements. In May 2014, the FASB issued ASU 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. ASU 2014-09 can be adopted by the Company either retrospectively or as a cumulative-effect adjustment as of the date of adoption. On April 1, 2015, the FASB decided to defer the effective date of the new revenue standard by one year. As a result, public entities would apply the new revenue standard to annual reporting periods beginning after December 15, 2017. This standard will be effective for the Company beginning in fiscal 2019. The Company is planning on adopting this standard retrospectively. We believe this standard will impact the current accounting for contracts accounted for under the percentage of completion method of revenue recognition, however the overall impact to the prior year financial results is still under review.

Restatement of Previously Issue

Restatement of Previously Issued Financial Statements	12 Months Ended
	Feb. 28, 2017
Accounting Changes and Error Corrections [Abstract]
Restatement of Previously Issued Financial Statements	Restatement of Previously Issued Financial Statements As previously disclosed, the Company determined that for certain contracts within its Energy Segment for which revenue was historically recognized upon contract completion and transfer of title, the Company instead should have applied the percentage-of-completion method in accordance with the FASB’s Accounting Standards Codification No. 605-35, Construction-Type and Production-Type Contracts . In general, the percentage-of-completion method results in a revenue recognition pattern over time as a project progresses as opposed to deferring revenues until contract completion. The Company concluded that the impact of applying the percentage-of-completion method to its revenue contracts was materially different from its previously reported results under its historical practice. As a result, the Company is restating its consolidated financial statements for the periods impacted. The following financial tables reconcile the previously reported amounts to the restated amounts for each consolidated financial statement . The table below sets forth the consolidated statements of income, including the balances originally reported, corrections and the as restated balances for each fiscal year: Year Ended February 28, 2017 February 29, 2016 As Reported Correction As Restated As Reported Correction As Restated (In thousands, except per share data) Net Sales $ 858,930 $ 4,608 $ 863,538 $ 903,192 $ (13,792 ) $ 889,400 Cost of Sales 654,146 4,060 658,206 673,081 (11,799 ) 661,282 Gross Profit 204,784 548 205,332 230,111 (1,993 ) 228,118 Operating Income 98,360 548 98,908 122,288 (1,993 ) 120,295 Income Before Income Taxes 84,749 548 85,297 104,368 (1,993 ) 102,375 Income Tax Expense 23,828 205 24,033 27,578 (747 ) 26,831 Net Income $ 60,921 $ 343 $ 61,264 $ 76,790 $ (1,246 ) $ 75,544 Earnings Per Common Share Basic Earnings Per Share $ 2.35 $ 0.01 $ 2.36 $ 2.98 $ (0.05 ) $ 2.93 Diluted Earnings Per Share $ 2.33 $ 0.02 $ 2.35 $ 2.96 $ (0.05 ) $ 2.91 Year Ended February 28, 2015 As Reported Correction As Restated (In thousands, except per share data) Net Sales $ 816,687 $ 3,005 $ 819,692 Cost of Sales 610,991 1,928 612,919 Gross Profit 205,696 1,077 206,773 Operating Income 106,825 1,077 107,902 Income Before Income Taxes 90,130 1,077 91,207 Income Tax Expense 25,187 404 25,591 Net Income $ 64,943 $ 673 $ 65,616 Earnings Per Common Share Basic Earnings Per Share $ 2.53 $ 0.03 $ 2.56 Diluted Earnings Per Share $ 2.52 $ 0.03 $ 2.55 The table below sets forth the consolidated statements of comprehensive income, including the balances originally reported, corrections and the as restated balances for each fiscal year: Year Ended February 28, 2017 February 29, 2016 As Reported Correction As Restated As Reported Correction As Restated (In thousands) Net Income $ 60,921 $ 343 $ 61,264 $ 76,790 $ (1,246 ) $ 75,544 Comprehensive Income 62,387 343 62,730 69,062 (1,246 ) 67,816 Year Ended February 28, 2015 As Reported Correction As Restated (In thousands) Net Income $ 64,943 $ 673 $ 65,616 Comprehensive Income 53,129 673 53,802 The table below sets forth the consolidated balance sheets, including the balances originally reported, corrections and the as restated balances for each fiscal year: February 28, 2017 February 29, 2016 As Reported Correction As Restated As Reported Correction As Restated Assets (In thousands) Inventories - net $ 123,208 $ (29,201 ) $ 94,007 $ 102,135 $ (25,004 ) $ 77,131 Costs and estimated earnings in excess of billings on uncompleted contracts 20,546 29,716 50,262 32,287 31,195 63,482 Total current assets 296,537 515 297,052 309,334 6,191 315,525 Total assets $ 977,839 $ 515 $ 978,354 $ 982,010 $ 6,191 $ 988,201 Liabilities and Shareholders’ Equity Other accrued liabilities $ 18,390 $ 5,652 $ 24,042 $ 20,406 $ 5,731 $ 26,137 Customer deposits 20,860 (19,401 ) 1,459 15,652 (15,652 ) $ — Billings in excess of costs and estimated earnings on uncompleted contracts 11,948 8,669 20,617 9,237 11,065 20,302 Total current liabilities 141,850 (5,080 ) 136,770 148,405 1,144 149,549 Deferred income tax liabilities 51,550 2,098 53,648 49,960 1,893 51,853 Total liabilities 448,200 (2,982 ) 445,218 500,794 3,037 503,831 Shareholders’ equity: Retained earnings 495,030 3,497 498,527 450,754 3,154 453,908 Total shareholders’ equity 529,639 3,497 533,136 481,216 3,154 484,370 Total liabilities and shareholders' equity $ 977,839 $ 515 $ 978,354 $ 982,010 $ 6,191 $ 988,201 The table below sets forth the consolidated statements of cash flows from operating activities, including the balances originally reported, corrections and the as restated balances for each fiscal year: Year Ended February 28, 2017 February 29, 2016 As Reported Correction As Restated As Reported Correction As Restated (In thousands) Cash flows from operating activities: Net income $ 60,921 $ 343 $ 61,264 $ 76,790 $ (1,246 ) $ 75,544 Deferred income taxes 1,509 205 1,714 2,707 (747 ) 1,960 Inventories (17,951 ) 4,197 (13,754 ) 11,124 (13,176 ) (2,052 ) Net change in billings related to costs and estimated earnings on uncompleted contracts 14,509 (917 ) 13,592 5,739 1,537 7,276 Other accrued liabilities and income taxes payable (6,383 ) (3,828 ) (10,211 ) (3,877 ) 13,632 9,755 Net cash provided by operating activities: $ 111,176 $ — $ 111,176 $ 143,589 $ — $ 143,589 Year Ended February 28, 2015 As Reported Correction As Restated (In thousands) Cash flows from operating activities: Net income $ 64,943 $ 673 $ 65,616 Deferred income taxes 15,818 404 16,222 Inventories (879 ) (2,484 ) (3,363 ) Net change in billings related to costs and estimated earnings on uncompleted contracts (5,635 ) (8,188 ) (13,823 ) Other accrued liabilities and income taxes payable (15,460 ) 9,595 (5,865 ) Net cash provided by operating activities: $ 118,157 $ — $ 118,157 The restatement had no impact on cash flows from investing activities or financing activities. The table below sets forth the consolidated statements of shareholders' equity, including the balances originally reported, corrections and the as restated balances for each fiscal year: Retained Earnings Total Stockholders' Equity (In thousands) Balance at February 28, 2014, as reported $ 339,400 $ 375,913 Correction 3,727 3,727 Balance at February 28, 2014, as restated $ 343,127 $ 379,640 Balance at February 28, 2015, as reported $ 389,446 $ 420,052 Correction 4,400 4,400 Balance at February 28, 2015, as restated $ 393,846 $ 424,452 Balance at February 29, 2016, as reported $ 450,754 $ 481,216 Correction 3,154 3,154 Balance at February 29, 2016, as restated $ 453,908 $ 484,370 Balance at February 28, 2017, as reported $ 495,030 $ 529,639 Correction 3,497 3,497 Balance at February 28, 2017, as restated $ 498,527 $ 533,136 The table below sets forth the unaudited selected quarterly financial data, including the balances originally reported, corrections and the as restated balances for each fiscal quarter: Quarter Ended May 31, 2016 August 31, 2016 As Reported Correction As Restated As Reported Correction As Restated (In thousands, except per share data) Net sales $ 242,667 $ 7,699 $ 250,366 $ 195,045 $ 5,745 $ 200,790 Gross profit 63,327 1,801 65,128 41,886 218 42,104 Net income 21,063 1,126 22,189 10,023 136 10,159 Basic earnings per share 0.81 0.05 0.86 0.39 — 0.39 Diluted earnings per share 0.81 0.04 0.85 0.38 0.01 0.39 Quarter Ended November 30, 2016 February 28, 2017 As Reported Correction As Restated As Reported Correction As Restated (In thousands, except per share data) Net sales $ 227,459 $ 657 $ 228,116 $ 193,759 $ (9,493 ) $ 184,266 Gross profit 53,866 (2,569 ) 51,297 45,705 1,098 46,803 Net income 18,251 (1,605 ) 16,646 11,584 686 12,270 Basic earnings per share 0.70 (0.06 ) 0.64 0.45 0.02 0.47 Diluted earnings per share 0.70 (0.06 ) 0.64 0.44 0.03 0.47 Quarter Ended May 31, 2015 August 31, 2015 As Reported Correction As Restated As Reported Correction As Restated (In thousands, except per share data) Net sales $ 228,888 $ 11,552 $ 240,440 $ 214,246 $ (14,576 ) $ 199,670 Gross profit 59,304 4,400 63,704 53,505 (3,803 ) 49,702 Net income 19,924 2,750 22,674 17,243 (2,377 ) 14,866 Basic earnings per share 0.77 0.11 0.88 0.67 (0.09 ) 0.58 Diluted earnings per share 0.77 0.11 0.88 0.67 (0.10 ) 0.57 Quarter Ended November 30, 2015 February 29, 2016 As Reported Correction As Restated As Reported Correction As Restated (In thousands, except per share data) Net sales $ 242,447 $ (851 ) $ 241,596 $ 217,611 $ (9,917 ) $ 207,694 Gross profit 62,448 (1,160 ) 61,288 54,854 (1,430 ) 53,424 Net income 23,547 (725 ) 22,822 16,076 (894 ) 15,182 Basic earnings per share 0.91 (0.03 ) 0.88 0.62 (0.03 ) 0.59 Diluted earnings per share 0.91 (0.03 ) 0.88 0.62 (0.04 ) 0.58 In addition to the restated consolidated financial statements, the information contained in Notes 3, 5, 6, 9, 11, 14 and 16 has been restated.

Inventories (Notes)

Inventories (Notes)	12 Months Ended
	Feb. 28, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories (net) consisted of the following at February 28, 2017 and February 29, 2016: 2017 2016 (Restated) (Restated) (In thousands) Raw materials $ 80,169 $ 66,548 Work-in-process 6,832 3,535 Finished goods 7,006 7,048 $ 94,007 $ 77,131

Property, Plant and Equipment (

Property, Plant and Equipment (Notes)	12 Months Ended
	Feb. 28, 2017
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment Disclosure [Text Block]	Property, Plant, and Equipment Property, plant and equipment consisted of the following at February 28, 2017 and February 29, 2016: 2017 2016 (In thousands) Land $ 22,360 $ 21,265 Building and structures 139,627 141,370 Machinery and equipment 228,246 215,796 Furniture, fixtures, software and computers 25,593 22,237 Automotive equipment 2,998 3,206 Construction in progress 23,669 12,827 442,493 416,701 Less accumulated depreciation (213,883 ) (190,368 ) Net property, plant, and equipment $ 228,610 $ 226,333 Depreciation expense was $33.4 million , $31.2 million , and $28.1 million for fiscal 2017, 2016, and 2015, respectively.

Costs and Estimated Earnings On

Costs and Estimated Earnings On Uncompleted Contracts (Notes)	12 Months Ended
	Feb. 28, 2017
Contractors [Abstract]
Costs and estimated earnings on uncompleted contracts	Costs and estimated earnings on uncompleted contracts Costs and estimated earnings on uncompleted contracts consisted of the following at February 28, 2017 and February 29, 2016: 2017 2016 (Restated) (Restated) (In thousands) Costs incurred on uncompleted contracts $ 127,839 $ 195,751 Estimated earnings 53,598 78,667 181,437 274,418 Less billings to date 151,792 231,238 $ 29,645 $ 43,180 The amounts noted above are included in the accompanying consolidated balance sheets under the following captions: 2017 2016 (Restated) (Restated) (In thousands) Cost and estimated earnings in excess of billings on uncompleted contracts $ 50,262 $ 63,482 Billings in excess of costs and estimated earnings on uncompleted contracts (20,617 ) (20,302 ) $ 29,645 $ 43,180

Other Accrued Liabilities (Note

Other Accrued Liabilities (Notes)	12 Months Ended
	Feb. 28, 2017
Other Liabilities Disclosure [Abstract]
Other accrued liabilities	Other accrued liabilities Other accrued liabilities consisted of the following at February 28, 2017 and February 29, 2016: 2017 2016 (Restated) (Restated) (In thousands) Accrued interest $ 2,036 $ 2,356 Tenant improvements 278 507 Accrued warranty 2,098 2,915 Commissions 2,483 2,685 Personnel expenses 8,251 8,456 Group medical insurance 1,969 1,699 Other 6,927 7,519 $ 24,042 $ 26,137

Realignment Costs (Notes)

Realignment Costs (Notes)	12 Months Ended
	Feb. 28, 2017
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 fiscal 2017, the Company undertook a review of its operations in order to optimize financial performance of its operating assets. As a result, the Company recognized $8.0 million of realignment charges in the second quarter of fiscal 2017. A total of $6.7 million was included in Cost of Sales for the disposition and write off of certain fixed assets within the Galvanizing Segment, including the cost of closing two plants, the write off of certain assets related to the conversion of a third plant from a standard galvanizing plant to a galvanized rebar plant, and the cost of writing off certain other functionally obsolete assets across other galvanizing plants during the second quarter. We also reserved $1.3 million in Selling, General and Administrative Expense for realignment costs related to one-time employee severance associated with changes needed to improve management efficiency in the Energy and Galvanizing Segments. During fiscal 2016, the Company reviewed its available capacity within the Energy segment and recorded additional realignment costs related to severance associated with consolidating capacity at various facilities. Additionally we reserved for the disposition and write off of certain fixed assets in connection with the capacity consolidation. The total cost related to the capacity consolidation is estimated to be $0.9 million . A total of $0.2 million of one-time severance costs and $0.2 million of costs for the disposition of certain fixed assets are included in Selling, General and Administrative Expenses. A total of $0.2 million of one-time severance costs and $0.3 million of costs for the disposition of certain fixed assets are included in Cost of Sales. The following table shows changes in the realignment accrual for the year ended February 28, 2017 and February 29, 2016: 2017 2016 (in thousands) Realignment cost accrued $ 61 $ 456 Additions to reserve 1,260 437 Realignment costs utilized (1,014 ) (832 ) $ 307 $ 61

Employee Benefit Plans (Notes)

Employee Benefit Plans (Notes)	12 Months Ended
	Feb. 28, 2017
Postemployment Benefits [Abstract]
Employee benefit plans	Employee benefit plans The Company has historically had a profit sharing plan and 401(k) match plan covering substantially all of its employees. Under the provisions of the plan, the Company contributes amounts as authorized by the Board of Directors. Total contributions to the profit sharing plan and the Company’s 401(k) match plan, were $4.5 million, $4.9 million, and $10.0 million for fiscal 2017, 2016, and 2015, respectively. As of March 1, 2015, the Company discontinued its profit sharing plan for its employees and implemented a new employee bonus program as a short-term incentive for performance. The accrual for the new employee bonus plan is presented in Accrued Salaries and Wages on the balance sheet for reporting periods subsequent to March 1, 2015.

Income Taxes (Notes)

Income Taxes (Notes)	12 Months Ended
	Feb. 28, 2017
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The provision for income taxes consists of: 2017 2016 2015 (Restated) (Restated) (Restated) (in thousands) Income before income taxes: Domestic $ 74,972 $ 93,561 $ 77,511 Foreign 10,325 8,814 13,696 Income before income taxes $ 85,297 $ 102,375 $ 91,207 Current provision (benefit): Federal $ 23,282 $ 28,099 $ 3,770 Foreign 2,751 2,706 3,025 State and Local (696 ) (337 ) 2,575 Total current provision for income taxes $ 25,337 $ 30,468 $ 9,370 Deferred provision (benefit): Federal $ (2,486 ) $ (6,560 ) $ 15,859 Foreign 189 (123 ) (858 ) State and Local 993 3,046 1,220 Total deferred provision (benefit) for income taxes $ (1,304 ) $ (3,637 ) $ 16,221 Total provision for income taxes $ 24,033 $ 26,831 $ 25,591 A reconciliation from the federal statutory income tax rate to the effective income tax rate is as follows: 2017 2016 2015 (Restated) (Restated) (Restated) Statutory federal income tax rate 35.0 % 35.0 % 35.0 % Permanent differences 0.7 0.4 0.6 State income taxes, net of federal income tax benefit 0.4 (1.5 ) 2.7 Benefit of Section 199 of the Code, manufacturing deduction (2.3 ) (2.7 ) (2.4 ) Valuation allowance — (1.2 ) (3.4 ) Stock compensation (1.8 ) — — Tax credits (3.1 ) (3.2 ) (3.4 ) Foreign tax rate differential (0.8 ) (0.4 ) (0.7 ) Other 0.1 (0.2 ) (0.3 ) Effective income tax rate 28.2 % 26.2 % 28.1 % Deferred federal and state income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial accounting purposes and the amounts used for income tax purposes. Significant components of the Company’s net deferred income tax liability are as follows: 2017 2016 (Restated) (Restated) (In thousands) Deferred income tax assets: Employee related items $ 6,839 $ 5,652 Inventories 1,286 1,106 Accrued warranty 715 1,008 Accounts receivable 261 173 Net operating loss carry forward 4,011 2,903 13,112 10,842 Less: valuation allowance (648 ) (648 ) Total deferred income tax assets 12,464 10,194 Deferred income tax liabilities: Depreciation methods and property basis differences (27,913 ) (31,008 ) Other assets and tax-deductible goodwill (37,950 ) (30,839 ) Total deferred income tax liabilities (65,863 ) (61,847 ) Net deferred income tax liabilities $ (53,399 ) $ (51,653 ) In general, it is our practice and intention to reinvest the earnings of our non-U.S. subsidiaries in those operations. As of fiscal year end 2017, we have not made a provision for U.S. or additional foreign withholding taxes on approximately $24.8 million of the excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries that is indefinitely reinvested. Generally, such amounts become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances. It is not practicable to estimate the amount of deferred tax liability related to investments in these foreign subsidiaries. The following table summarizes the Net Operating Loss (NOL) Carryforward: 2017 2016 (In thousands) Federal $ — $ — State $ 4,011 $ 2,903 Foreign $ — $ — As of February 28, 2017 , the Company had pretax state NOL carryforwards of $55.5 million which, if unused, will begin to expire in 2025. As of fiscal year end 2017 and 2016, a portion of our deferred tax assets were the result of state NOL carryforwards. We believe that it is more likely than not that the benefit from certain state NOL carry forwards will not be realized. In recognition of this risk, we have provided a valuation allowance of $0.6 million and $0.6 million as of fiscal year end 2017 and 2016, respectively. We will review this risk within the next fiscal year and may conclude that a significant portion of the valuation allowance will no longer be needed. The tax benefits related to any reversal of the valuation allowance will be recognized as a reduction of income tax expense.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Notes)	12 Months Ended
	Feb. 28, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets Goodwill is not amortized but is subject to annual impairment tests. Other intangible assets are amortized over their estimated useful lives. Changes in goodwill by segment during the years ended February 28, 2017 and February 29, 2016 are as follows: Segment March 1, Acquisitions Foreign February 28, (In thousands) Galvanizing $ 109,314 $ — $ 666 $ 109,980 Energy 183,213 13,386 — 196,599 Total $ 292,527 $ 13,386 $ 666 $ 306,579 Segment March 1, Acquisitions Foreign February 29, (In thousands) Galvanizing $ 95,538 $ 15,576 $ (1,800 ) $ 109,314 Energy 183,536 — (323 ) 183,213 Total $ 279,074 $ 15,576 $ (2,123 ) $ 292,527 The Company completes its annual impairment analysis of goodwill on December 31st of each year. As a result, the Company determined that there was no impairment of goodwill. Amortizable intangible assets consisted of the following at February 28, 2017 and February 29, 2016: 2017 2016 (In thousands) Amortizable intangible assets Customer related intangibles $ 177,514 $ 169,637 Non-compete agreements 5,651 5,596 Trademarks 4,569 4,569 Technology 7,400 7,400 Engineering drawings 24,600 24,600 Backlog 7,600 7,600 227,334 219,402 Less accumulated amortization (88,314 ) (71,201 ) $ 139,020 $ 148,201 The Company recorded amortization expense of $16.9 million, $16.2 million and $18.0 million for fiscal 2017 , 2016 and 2015, respectively. The following table projects the estimated amortization expense for the five succeeding fiscal years and thereafter. (In thousands) 2018 $ 16,206 2019 15,354 2020 14,831 2021 14,665 2022 12,580 Thereafter 65,384 Total $ 139,020

Earnings Per Share (Notes)

Earnings Per Share (Notes)	12 Months Ended
	Feb. 28, 2017
Earnings Per Share [Abstract]
Earnings per share	Earnings per share Basic earnings per share is based on the weighted average number of shares outstanding during each year. Diluted earnings per share were similarly computed but have been adjusted for the dilutive effect of the weighted average number of restricted stock units, performance share units and stock appreciation rights outstanding. The following table sets forth the computation of basic and diluted earnings per share: Year Ended 2017 2016 2015 (Restated) (Restated) (Restated) (In thousands, except per share data) Numerator: Net income for basic and diluted earnings per common share $ 61,264 $ 75,544 $ 65,616 Denominator: Denominator for basic earnings per common share–weighted average shares 25,965 25,800 25,676 Effect of dilutive securities: Employee and director stock awards 132 137 102 Denominator for diluted earnings per common share 26,097 25,937 25,778 Earnings per share basic and diluted: Basic earnings per common share $ 2.36 $ 2.93 $ 2.56 Diluted earnings per common share $ 2.35 $ 2.91 $ 2.55 For fiscal 2017 and 2016, the Company had no stock appreciation rights that were excluded from the computation of diluted earnings per share. Stock appreciation rights of approximately 80,683 were excluded from the computation of diluted earnings per share for fiscal 2015 as the effect would be anti-dilutive.

Stock Compensation (Notes)

Stock Compensation (Notes)	12 Months Ended
	Feb. 28, 2017
Share-based Compensation [Abstract]
Stock compensation	Share-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, performance share units, and stock appreciation rights 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 February 28, 2017 , the Company had approximately 1,270,511 shares reserved 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. Awards issued prior to fiscal 2015 generally have a three year cliff vesting schedule and awards issued subsequent to fiscal 2015 generally vest ratably over a period of three years but these awards may vest early in accordance with the Plan’s accelerated vesting provisions. The activity in our non-vested restricted stock unit awards for the year ended February 28, 2017 is as follows: Restricted Weighted Non-Vested Balance as of February 29, 2016 98,693 $ 45.03 Granted 73,921 56.66 Vested (35,330 ) 45.82 Forfeited (2,737 ) 50.71 Non-Vested Balance as of February 28, 2017 134,547 $ 51.10 The total fair value of restricted stock units vested during fiscal years 2017, 2016, and 2015 was $1.6 million, $0.9 million and $0.8 million, respectively. For fiscal years 2017, 2016 and 2015, there were 134,547 , 98,693 and 77,446 , respectively, of non-vested restricted stock units outstanding with weighted average grant date fair values of $51.10 , $45.03 and $41.31 , respectively. Performance Share Unit Awards Performance share unit awards are valued at the market price of our common stock on the grant date. These awards have a three year performance cycle and will vest and become payable, if at all, on the third anniversary of the award date. The awards are subject to the Company’s degree of achievement of a target annual average adjusted return on assets during these three year periods. In addition, a multiplier may be applied to the total awards granted which is based on the Company’s total shareholder return during such three year period in comparison to a defined specific industry peer group as set forth in the plan. The activity in our non-vested performance stock unit awards for the year ended February 28, 2017 is as follows: Performance Stock Units Weighted Average Grant Date Fair Value Non-Vested Balance as of February 29, 2016 27,415 $ 46.65 Granted 24,011 57.47 Vested — — Forfeited — — Non-Vested Balance as of February 28, 2017 51,426 $ 51.70 Stock Appreciation Rights Stock appreciation rights 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 3 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 awards activity for the years ended February 28, 2017, February 29, 2016 and February 28, 2015 is as follows: 2017 2016 2015 SAR’s Weighted Average Exercise Price SAR’s Weighted Average Exercise Price SAR’s Weighted Average Exercise Price Outstanding at beginning of year 312,748 $ 34.23 376,982 $ 31.27 396,174 $ 26.64 Granted — — — — 126,532 43.92 Exercised (141,983 ) 24.85 (59,441 ) 14.67 (98,942 ) 22.79 Forfeited (626 ) 43.92 (4,793 ) 44.56 (46,782 ) 44.14 Outstanding at end of year 170,139 $ 42.02 312,748 $ 34.23 376,982 $ 31.27 Exercisable at end of year 126,975 $ 41.27 217,961 $ 29.83 204,107 $ 21.55 Weighted average fair value for the fiscal year indicated of SARs granted during such year $ — $ — $ 16.94 The average remaining contractual term for those stock appreciation rights outstanding as of February 28, 2017 was 3.52 years, with an aggregate intrinsic value of $2.8 million . The average remaining contractual terms for those stock appreciation rights that are exercisable as of February 28, 2017 was 3.38 years, with an aggregate intrinsic value of $2.2 million . The following table summarizes additional information about stock appreciation rights outstanding at February 28, 2017 . Range of Total Average Weighted SAR’s Weighted $20.91 9,954 1.00 $ 20.91 9,954 $ 20.91 $25.67 9,538 2.00 $ 25.67 9,538 $ 25.67 $39.65 950 3.52 $ 39.65 950 $ 39.65 $43.92 89,180 4.01 $ 43.92 56,016 $ 43.92 $45.26 40,000 3.68 $ 45.26 30,000 $ 45.26 $45.36 19,758 3.00 $ 45.36 19,758 $ 45.36 $46.43 759 3.72 $ 46.43 759 $ 46.43 $20.91 - $46.43 170,139 3.52 $ 42.02 126,975 $ 41.27 The Company is no longer issuing SAR's as a form of share-based compensation, therefore the Black-Scholes option pricing model was not used subsequent to fiscal 2015. Assumptions used in the Black-Scholes option pricing model for fiscal year 2015 are as follows for all stock appreciation rights: 2015 Expected term in years 4.5 Expected dividend yield 1.20% – 1.32% Expected price volatility 35.39% – 40.00% Risk-free interest rate 2.32 – 2.73 Directors Grants The Company granted each of its independent directors a total of 1,641 , 1,915 and 2,000 shares of its common stock during fiscal years 2017, 2016 and 2015, respectively. These common stock grants were valued at $60.94 , $52.21 and $44.90 per share for fiscal years 2017, 2016 and 2015, respectively, which was the market price of our common stock on the respective grant dates. 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. Share-based compensation expense and related income tax benefits related to all the plans listed above were as follows for the fiscal years ended February 28, 2017, February 29, 2016 and February 28, 2015: Year ended 2017 2016 2015 (In thousands) Compensation expense $ 5,870 $ 4,538 $ 4,080 Income tax benefits $ 2,055 $ 1,588 $ 1,428 Unrecognized compensation cost related to all the above at February 28, 2017 totaled $6.8 million. These costs are expected to be recognized over a weighted period of 1.91 years. The actual tax benefit realized for tax deductions from share-based compensation during each of these fiscal years totaled $1.5 million , $1.0 million and $0.3 million , respectively. The Company’s policy is to issue shares required under these plans from the Company’s treasury shares or from the Company’s authorized but unissued shares. The Company has no formal or informal plan to repurchase shares on the open market to satisfy these requirements.

Long-term Debt (Notes)

Long-term Debt (Notes)	12 Months Ended
	Feb. 28, 2017
Debt Disclosure [Abstract]
Long-term debt	Debt Following is a summary of debt at February 28, 2017 and February 29, 2016: Debt consisted of the following: 2017 2016 (In thousands) Senior Notes, due in balloon payment in January 2021 $ 125,000 $ 125,000 Senior Notes, due in annual installments of $14,286 beginning in March 2012 through March 2018 28,571 42,857 Term Note, due in quarterly installments beginning in June 2013 through March 2018 49,219 58,125 Revolving line of credit with bank 69,500 101,000 Total debt 272,290 326,982 Unamortized debt issuance costs for Senior Notes and Term Note (861 ) (1,361 ) Total debt, net 271,429 325,621 Less amount due within one year (16,629 ) (23,192 ) Debt due after one year, net $ 254,800 $ 302,429 On March 27, 2013, we entered into a Credit Agreement (the “Credit Agreement”) with Bank of America and other lenders. The Credit Agreement provided for a $75.0 million term facility and a $225.0 million revolving credit facility that included a $75.0 million “accordion” feature. The Credit Agreement is used to provide for working capital needs, capital improvements, dividends, future acquisitions and letter of credit needs. Interest rates for borrowings under the Credit Agreement are based on either a Eurodollar Rate or a Base Rate plus a margin ranging from 1.0% to 2.0% depending on our Leverage Ratio. The Eurodollar Rate is defined as LIBOR for a term equivalent to the borrowing term (or other similar interbank rates if LIBOR is unavailable). The Base Rate is defined as the highest of the applicable Fed Funds rate plus 0.50%, the Prime rate, or the Eurodollar Rate plus 1.0% at the time of borrowing. The Credit Agreement also carries a Commitment Fee for the unfunded portion ranging from 0 .20% to 0 .30% per annum, depending on our Leverage Ratio. The $75.0 million term facility under the Credit Agreement requires quarterly principal and interest payments commencing on June 30, 2013 through March 27, 2018, the maturity date. The Credit Agreement provides various financial covenants requiring us, among other things, to a) maintain on a consolidated basis net worth equal to at least the sum of $230.0 million , plus 50.0% of future net income, b) maintain on a consolidated basis a Leverage Ratio (as defined in the Credit Agreement) not to exceed 3.25 :1.0, c) maintain on a consolidated basis a Fixed Charge Coverage Ratio (as defined in the Credit Agreement) of at least 1.75 :1.0 and d) not to make Capital Expenditures (as defined in the Credit Agreement) on a consolidated basis in an amount in excess of $60.0 million during the fiscal year ended February 28, 2014 and $50.0 million during any subsequent year. As of February 28, 2017 , we had $69.5 million of outstanding debt against the revolving credit facility provided and letters of credit outstanding in the amount of $23.1 million , which left approximately $132.4 million of additional credit available under the Credit Agreement. On March 31, 2008, the Company entered into a Note Purchase Agreement (the “Note Purchase Agreement”) pursuant to which the Company issued $100.0 million aggregate principal amount of its 6.24% unsecured Senior Notes (the “2008 Notes”) due March 31, 2018 through a private placement (the “2008 Note Offering”). Pursuant to the Note Purchase Agreement, the Company’s payment obligations with respect to the 2008 Notes may be accelerated upon any Event of Default, as defined in the Note Purchase Agreement. The Company entered into an additional Note Purchase Agreement on January 21, 2011 (the “2011 Agreement”), pursuant to which the Company issued $125.0 million aggregate principal amount of its 5.42% unsecured Senior Notes (the “2011 Notes”), due in January of 2021, through a private placement (the “2011 Note Offering”). Pursuant to the 2011 Agreement, the Company's payment obligations with respect to the 2011 Notes may be accelerated under certain circumstances. The 2008 Notes and the 2011 Notes each provide for various financial covenants requiring us, among other things, to a) maintain on a consolidated basis net worth equal to at least the sum of $116.9 million plus 50.0% of future net income; b) maintain a ratio of indebtedness to EBITDA (as defined in Note Purchase Agreement) not to exceed 3.25 :1.00; c) maintain on a consolidated basis a Fixed Charge Coverage Ratio (as defined in the Note Purchase Agreement) of at least 2.0 :1.0; d) not at any time permit the aggregate amount of all Priority Indebtedness (as defined in the Note Purchase Agreement) to exceed 10.0% of Consolidated Net Worth (as defined in the Note Purchase Agreement). As of February 28, 2017 , the Company was in compliance with all of its debt covenants. Maturities of debt are as follows: Fiscal Year (In thousands) 2018 $ 16,629 2019 130,661 2020 — 2021 125,000 2022 — Thereafter — Total $ 272,290

Operating segments (Notes)

Operating segments (Notes)	12 Months Ended
	Feb. 28, 2017
Segment Reporting [Abstract]
Operating segments	Operating segments Information regarding operations and assets by segment was as follows: 2017 2016 2015 (Restated) (Restated) (Restated) Net sales: (In thousands) Energy $ 488,002 $ 487,038 $ 461,344 Galvanizing 375,536 402,362 358,348 $ 863,538 $ 889,400 $ 819,692 Operating income: Energy $ 52,577 $ 56,478 $ 39,780 Galvanizing 79,033 94,766 88,562 Corporate (32,702 ) (30,949 ) (20,440 ) Total Operating Income 98,908 120,295 107,902 Interest expense 14,732 15,155 16,561 Net (gain) loss on sale of property, plant and equipment and insurance proceeds 76 (327 ) (2,525 ) Other (income) expense, net (1,197 ) 3,092 2,659 Income before income taxes $ 85,297 $ 102,375 $ 91,207 Depreciation and amortization: Energy $ 19,624 $ 19,131 $ 20,725 Galvanizing 28,650 26,863 23,964 Corporate 2,083 1,423 1,400 $ 50,357 $ 47,417 $ 46,089 Expenditures for acquisitions, net of cash, and property, plant and equipment: Energy $ 31,474 $ 12,863 $ 10,647 Galvanizing 32,099 86,724 26,928 Corporate 540 858 3,320 $ 64,113 $ 100,445 $ 40,895 Total assets: Energy $ 536,557 $ 506,269 $ 511,648 Galvanizing 428,330 436,471 378,823 Corporate 13,467 45,461 34,844 $ 978,354 $ 988,201 $ 925,315 Geographic net sales: United States $ 705,976 $ 710,767 $ 634,549 Other countries 157,718 179,832 189,855 Eliminations (156 ) (1,199 ) (4,712 ) $ 863,538 $ 889,400 $ 819,692 Property, plant and equipment, net: United States $ 205,079 $ 204,587 $ 173,712 Canada 18,002 17,868 20,289 Other Countries 5,529 3,878 2,582 $ 228,610 $ 226,333 $ 196,583

Commitments and Contingencies (

Commitments and Contingencies (Notes)	12 Months Ended
	Feb. 28, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Leases The Company is obligated under various operating leases for property, plant and equipment. As February 28, 2017 , future minimum lease payments under non-cancelable operating leases with initial terms in excess of one year are summarized in the below table: Fiscal Year: (In thousands) 2018 $ 6,627 2019 5,629 2020 3,347 2021 2,655 2022 2,542 Thereafter 8,042 Total $ 28,842 Rent expense was $17.0 million , $13.9 million and $14.1 million for fiscal years 2017 , 2016 and 2015 , respectively. Rent expense includes various equipment rentals that do not meet the terms of a non-cancelable lease or that have initial terms of less than one year. Commodity pricing We have no contracted commitments for any commodities including steel, aluminum, natural gas, cooper, zinc, nickel based alloys, except for those entered into under the normal course of business. Other At February 28, 2017 , the Company had outstanding letters of credit in the amount of $23.1 million . These letters of credit are issued for a number of reasons, but are most commonly issued in lieu of customer retention withholding payments covering warranty or performance periods. In addition, as of February 28, 2017 , a warranty reserve in the amount of $2.1 million was established to offset any future warranty claims.

Quarterly Financial Information

Quarterly Financial Information, Unaudited (Notes)	12 Months Ended
	Feb. 28, 2017
Quarterly Financial Information Disclosure [Abstract]
Quarterly financial information, Unaudited	Selected quarterly financial data (Unaudited) Quarter ended May 31, August 31, November 30, February 28, (Restated) (Restated) (Restated) (Restated) (in thousands, except per share data) Net sales $ 250,366 $ 200,790 $ 228,116 $ 184,266 Gross profit 65,128 42,104 51,297 46,803 Net income 22,189 10,159 16,646 12,270 Basic earnings per share 0.86 0.39 0.64 0.47 Diluted earnings per share 0.85 0.39 0.64 0.47 Quarter ended May 31, August 31, November 30, February 29, (Restated) (Restated) (Restated) (Restated) (in thousands, except per share data) Net sales $ 240,440 $ 199,670 $ 241,596 $ 207,694 Gross profit 63,704 49,702 61,288 53,424 Net income 22,674 14,866 22,822 15,182 Basic earnings per share 0.88 0.58 0.88 0.59 Diluted earnings per share 0.88 0.57 0.88 0.58

Acquisitions

Acquisitions	12 Months Ended
	Feb. 28, 2017
Business Combinations [Abstract]
Acquisitions	Acquisitions On March 1, 2016, we completed an acquisition of the equity securities of Power Electronics, Inc. ("PEI"), a Millington, Maryland-based manufacturer and integrator of electrical enclosure systems. The acquisition of PEI will enhance our capacity to serve existing and new customers in a diverse set of industries along the Eastern seaboard of the United States. The goodwill arising from this acquisition was allocated to the Energy Segment and is deductible for income tax purposes. Unaudited pro forma results of operations assuming the PEI acquisition had taken place at the beginning of each period are not provided because the historical operating results of PEI were not significant and pro forma results would not be significantly different from reported results for the periods presented. On February 1, 2016, we completed our acquisition of substantially all the assets of Alpha Galvanizing Inc., an Atkinson, Nebraska-based business unit of Olson Industries, Inc. ("Alpha Galvanizing"). Alpha Galvanizing has served steel fabrication customers that manufacture electrical utility poles, agricultural machinery and industrial manufacturing components since 1996. Alpha Galvanizing was acquired to expand the footprint of AZZ Galvanizing and to support AZZ’s locations in Minnesota and Denver, Colorado, as well as serve customers in the upper Midwest region. 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 Alpha Galvanizing Inc. acquisition had taken place at the beginning of each period are not provided because the historical operating results of Alpha Galvanizing Inc. were not significant and pro forma results would not be significantly different from reported results for the periods presented. On June 5, 2015, we completed the acquisition of substantially all the assets of US Galvanizing, LLC, a provider of steel corrosion coating services and a wholly-owned subsidiary of Trinity Industries, Inc. The acquisition of the US Galvanizing, LLC assets includes six galvanizing facilities located in Hurst, Texas; Kennedale, Texas; Big Spring, Texas; San Antonio, Texas; Morgan City, Louisiana; and Kosciusko, Mississippi. Additionally, the transaction includes Texas Welded Wire, a secondary business integrated within US Galvanizing's Hurst, Texas facility. US Galvanizing, LLC was acquired to expand AZZ’s Southern locations. 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 US Galvanizing, LLC acquisition had taken place at the beginning of each period are not provided because the historical operating results of US Galvanizing, LLC were not significant and pro forma results would not be significantly different from reported results for the periods presented. 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 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 footprint in the upper Midwest region of the United States. 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.

Subsequent Events (Notes)

Subsequent Events (Notes)	12 Months Ended
	Feb. 28, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On March 21, 2017, we executed the Amended and Restated Credit Agreement (the “2017 Credit Agreement”) with Bank of America and other lenders. The 2017 Credit Agreement amended the Credit Agreement entered into on March 27, 2013 by the following: (i) extending the maturity date until March 21, 2022, (ii) providing for a senior revolving credit facility in a principal amount of up to $450 million, with an additional $150 million accordion, (iii) including a $75 million sublimit for the issuance of standby and commercial letters of credit, (iv) including a $30 million sublimit for swing line loans, (v) restricting indebtedness incurred in respect of capital leases, synthetic lease obligations and purchase money obligations not to exceed $20 million, (vi) restricting investments in any foreign subsidiaries not to exceed $50 million in the aggregate, and (vii) including various financial covenants and certain restricted payments relating to dividends and share repurchases as specifically set forth in the 2017 Credit Agreement. The 2017 Credit Agreement will be used to finance working capital needs, capital improvements, dividends, future acquisitions and letter of credit needs. Two of the Company’s indirectly held subsidiaries, The Calvert Company, Inc. and Nuclear Logistics LLC, have existing contracts with subsidiaries of Westinghouse Electric Company (“WEC”). WEC and the relevant subsidiaries filed relief under Chapter 11 of the Bankruptcy Code on March 29, 2017 in the United States Bankruptcy Court for the Southern District of New York, jointly administered as In re Westinghouse Electric Company, et al., Case No. 17-10751 (the "Bankruptcy Case"). The Bankruptcy Court overseeing the Bankruptcy Case has approved, on an interim basis, an $800M Debtor-in-Possession Financing Facility (“DIP Financing”) to help WEC finance its business operations during the reorganization process. A final hearing on the DIP Financing is scheduled for April 26, 2017. The Company estimates it had approximately $7.2 million in pre-petition exposure with WEC to the Company’s two subsidiaries as of March 29, 2017. The Company’s subsidiaries will continue, for the time being and while it monitors and evaluates the Bankruptcy Case, to honor its executory contracts and has applied for critical vendor status with WEC. At this time, the Company cannot accurately estimate what recovery may be had on any pre-petition amounts or the potential future negative effects if the existing nuclear plant construction projects currently in backlog are cancelled. The Company expects to collect all post-petition amounts due and owing. It will likely be several months before WEC determines who to pay as its critical vendors, if anyone, or otherwise makes a determination as to which contracts to assume and which to reject as part of its reorganization process. The Company does not believe that rejection of the outstanding contracts with WEC, taken in part or combined, would have a material adverse impact on the Company’s cash flow or operations.

Schedule II _ Valuation and Qua

Schedule II : Valuation and Qualiying Accounts and Reserves (Notes)	12 Months Ended
	Feb. 29, 2016
Valuation and Qualifying Accounts [Abstract]
Schedule II : Valuation and Qualifying Accounts and Reserves	Schedule II AZZ Inc. Valuation and Qualifying Accounts and Reserves (In thousands) Year Ended, February 28, 2017 February 29, 2016 February 28, 2015 Allowance for Doubtful Accounts Balance at beginning of year $ 264 $ 1,472 $ 1,744 Additions (reductions) charged or credited to income 48 (1,072 ) 458 (Write offs) recoveries, net 20 (176 ) (700 ) Other 11 48 — Effect of exchange rate 4 (8 ) (30 ) Balance at end of year $ 347 $ 264 $ 1,472

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Feb. 28, 2017
Accounting Policies [Abstract]
Basis of consolidation	Organization -AZZ Inc. (the “Company” “AZZ” or “We”) operates primarily in the United States of America and Canada and has recently begun operating in China, Brazil, Poland and the Netherlands. Information about the Company's operations by segment is included in Note 14 to the consolidated financial statements. Basis of consolidation —The consolidated financial statements were prepared in accordance with the accounting principles generally accepted in the United States of America and include the accounts of the Company and its wholly owned subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation.
Use of estimates	Use of estimates —The preparation of the financial statements in conformity with generally accepted accounting principles in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Concentration of credit risk	Concentrations of credit risk —Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The Company maintains cash and cash equivalents with various financial institutions. These financial institutions are located throughout the United States and Canada, as well as Europe, China and Brazil. The Company's policy is designed to limit exposure to any one institution. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company's banking relationships and has not experienced any losses in such accounts. We believe we are not exposed to any significant credit risk related to cash and cash equivalents. Concentrations of credit risk with respect to trade accounts receivable are limited due to the Company’s diversity by virtue of two operating segments, the number of customers, and the absence of a concentration of trade accounts receivable in a small number of customers. The Company performs continuous evaluations of the collectability of trade accounts receivable and allowance for doubtful accounts based upon historical losses, economic conditions and customer specific events. After all collection efforts are exhausted and an account is deemed uncollectible, it is written off against the allowance for doubtful accounts. Collateral is usually not required from customers as a condition of sale.
Revenue recognition	Revenue recognition —The Company recognizes revenue for the Energy Segment upon transfer of title and risk to customer or based upon the percentage of completion method of accounting for electrical products built to customer specifications and services under long-term contracts. We typically recognize revenue for the Galvanizing Segment at completion of the service unless we specifically agree with the customer to hold its material for a predetermined period of time after the completion of the galvanizing process and, in that circumstance, we invoice and recognize revenue upon shipment. Customer advanced payments presented in the balance sheets arise from advanced payments received from our customers prior to shipment of the product and are not related to revenue recognized under the percentage of completion method. The extent of progress for revenue recognized using the percentage of completion method is measured by the ratio of contract costs incurred to date to total estimated contract costs at completion. Contract costs include direct labor and material and certain indirect costs. Selling, general and administrative costs are charged to expense as incurred. Provisions for estimated losses, if any, on uncompleted contracts are made in the period in which such losses are able to be determined. The assumptions made in determining the estimated cost could differ from actual performance resulting in a different outcome for profits or losses than anticipated.
Cash and cash equivalents	Cash and cash equivalents —The Company considers cash and cash equivalents to include cash on hand, deposits with banks and all highly liquid investments with an original maturity of three months or less.
Inventories	Inventories —Cost is determined principally using a weighted-average method for the Energy Segment and the first-in-first-out (FIFO) method for the Galvanizing Segment.
Property, plant and equipment	Property, plant and equipment —For financial reporting purposes, depreciation is computed using the straight-line method over the estimated useful lives of the related assets as follows: Buildings and structures 10-25 years Machinery and equipment 3-15 years Furniture and fixtures 3-15 years Automotive equipment 3 years Computers and software 3 years Maintenance and repairs are charged to expense as incurred; renewals and betterments that significantly extend the useful life of the asset are capitalized.
Intangible assets	Long-lived assets, intangible assets and goodwill —Purchased intangible assets included on the balance sheets are comprised of customer lists, backlogs, engineering drawings and non-compete agreements. Such intangible assets are being amortized using the straight-line method over the estimated useful lives of the assets ranging from two to nineteen years. The Company records impairment losses on long-lived assets, including identifiable intangible assets, when events and circumstances indicate that the assets might be impaired and the undiscounted projected cash flows associated with those assets are less than their carrying amount. In those situations, impairment loss on a long-lived asset is measured based on the excess of the carrying amount of the asset over the asset’s fair value. For goodwill, the Company performs an annual impairment test on December 31st of each year or as indicators are present. The test is calculated using the anticipated future cash flows after tax from our operating segments, which includes the impact of our corporate related expenses. Based on the present value of the future cash flows, we determine whether impairment may exist. A significant change in projected cash flows or cost of capital for future years could result in an impairment of goodwill in future years. Variables impacting future cash flows include, but are not limited to, the level of customer demand for and response to products and services we offer to the power generation market, the electrical transmission and distribution markets, the general industrial market and the hot dip galvanizing market; changes in economic conditions of these various markets; raw material and natural gas costs and availability of experienced labor and management to implement our growth strategies. As of February 28, 2017, no impairment of long-lived assets, intangible assets or goodwill was determined.
Long-lived assets	The Company records impairment losses on long-lived assets, including identifiable intangible assets, when events and circumstances indicate that the assets might be impaired and the undiscounted projected cash flows associated with those assets are less than their carrying amount. In those situations, impairment loss on a long-lived asset is measured based on the excess of the carrying amount of the asset over the asset’s fair value.
Goodwill	For goodwill, the Company performs an annual impairment test on December 31st of each year or as indicators are present. The test is calculated using the anticipated future cash flows after tax from our operating segments, which includes the impact of our corporate related expenses. Based on the present value of the future cash flows, we determine whether impairment may exist. A significant change in projected cash flows or cost of capital for future years could result in an impairment of goodwill in future years. Variables impacting future cash flows include, but are not limited to, the level of customer demand for and response to products and services we offer to the power generation market, the electrical transmission and distribution markets, the general industrial market and the hot dip galvanizing market; changes in economic conditions of these various markets; raw material and natural gas costs and availability of experienced labor and management to implement our growth strategies.
Debt issue costs	Debt issuance costs —Debt issue costs related to the revolver are included in other assets and are amortized using the effective interest rate method over the term of the debt. Debt issue costs related to debt other than the revolver are netted with total debt due after one year and are amortized using the effective interest rate method over the term of the debt.
Income taxes	Income taxes —We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. We recognize deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. As applicable, we record uncertain tax positions in accordance with GAAP on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. We currently do not have any unrecognized tax benefits to record related to U.S. federal, state or, foreign tax exposure. We continue to review our tax exposure for any significant need to record unrecognized tax benefits in the future. The Company is subject to taxation in the U.S. and various state, provincial and local and foreign jurisdictions. With few exceptions, as of fiscal 2017, the Company is no longer subject to U.S. federal or state examinations by tax authorities for years before fiscal 2014.
Stock-based compensation	Share-based compensation —The Company has granted restricted stock units awards, performance share units and stock appreciation rights for a fixed number of shares to employees and directors. A discussion of share-based compensation can be found in Note 12 to the Consolidated Financial Statements.
Financial Instruments	Financial instruments —Fair value is an exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Hierarchy Levels 1, 2, or 3 are terms for the priority of inputs to valuation techniques used to measure fair value. Hierarchy Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Hierarchy Level 2 inputs are inputs other than quoted prices included with Level 1 that are directly or indirectly observable for the asset or liability. Hierarchy Level 3 inputs are inputs that are not observable in the market. The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and debt. Our financial instruments are presented at fair value in our consolidated balance sheets, with the exception of our outstanding Senior Notes. For fiscal 2017 and 2016 the fair value of our senior outstanding notes, as described in Note 13 to the Consolidated Financial Statements, was approximately $144.4 million and $154.7 million , respectively. These fair values were determined using the discounted cash flow at the market rate as well as the applicable market interest rates classified as Level 2 inputs. During fiscal 2017 a principal payment was made in the amount of $14.3 million related to the $100.0 million unsecured Senior Notes due March 31, 2018, which accounts for a portion of the decrease in fair value for the compared periods partially offset by increased market interest rates.
Derivative financial instruments	Derivative financial instruments —From time to time, the Company uses derivatives to manage interest rate risk. The Company’s policy is to use derivatives for risk management purposes only, which includes maintaining the ratio between the Company’s fixed and floating rate debt obligations that management deems appropriate, and prohibits entering into such contracts for trading purposes. The Company enters into derivatives only with counterparties (primarily financial institutions) which have substantial financial wherewithal to minimize credit risk. As the result of the recent global financial crisis, a number of financial institutions have failed or required government assistance, and counterparties considered substantial may develop credit risk. The amount of gains or losses from the use of derivative financial instruments has not been and is not expected to be material to the Company’s consolidated financial statements. As of February 28, 2017 , the Company had no derivative financial instruments.
Warranty reserves	Warranty reserves —Within other accrued liabilities, a reserve has been established to provide for the estimated future cost of warranties on a portion of the Company’s delivered products. Management periodically reviews the reserves, and adjustments are made accordingly. A provision for warranty on products is made on the basis of the Company’s historical experience and identified warranty issues. Warranties cover such factors as non-conformance to specifications and defects in material and workmanship.
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) —Accumulated Other Comprehensive Income (Loss) includes foreign currency translation adjustments from our foreign subsidiaries.
Foreign Currency Translation	Foreign Currency Translation —The local currency is the functional currency for the Company’s foreign operations. Related assets and liabilities are translated into United States dollars at exchange rates existing at the balance sheet date, and revenues and expenses are translated at weighted-average exchange rates. The foreign currency translation adjustment is recorded as a separate component of shareholders’ equity and is included in accumulated other comprehensive income (loss).
Long-Term Contingent Liability	Accruals for Contingent Liabilities — The amounts we record for estimated claims, such as self-insurance programs, warranty, environmental and other contingent liabilities, requires us to make judgments regarding the amount of expenses that will ultimately be incurred. We use past history and experience and other specific circumstances surrounding these claims in evaluating the amount of liability that should be recorded. Actual results may be different than what we estimate. In connection with our acquisition of NLI on June 1, 2012, the Company had a contingent obligation to make an additional payment of up to $20.0 million based on the future financial performance of the NLI business. During fiscal 2015, the Company deemed this additional payment not probable or likely to occur and the accrual recorded at the end of fiscal 2014 of $9.1 million was reversed. The accrual reversal was recorded to selling, general and administrative expense. As of June 2016, the measurement period for this contingency payment has expired and no additional payment was made.

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Feb. 28, 2017
Accounting Policies [Abstract]
Property, Plant and Equipment	Property, Plant, and Equipment Property, plant and equipment consisted of the following at February 28, 2017 and February 29, 2016: 2017 2016 (In thousands) Land $ 22,360 $ 21,265 Building and structures 139,627 141,370 Machinery and equipment 228,246 215,796 Furniture, fixtures, software and computers 25,593 22,237 Automotive equipment 2,998 3,206 Construction in progress 23,669 12,827 442,493 416,701 Less accumulated depreciation (213,883 ) (190,368 ) Net property, plant, and equipment $ 228,610 $ 226,333
Schedule of Warranty Reserve	The following is a roll-forward of amounts accrued for warranties (in thousands): Balance at February 28, 2014 $ 1,338 Warranty costs incurred (1,294 ) Additions charged to income 2,243 Balance at February 28, 2015 $ 2,287 Warranty costs incurred (2,570 ) Additions charged to income 3,198 Balance at February 29, 2016 $ 2,915 Warranty costs incurred (1,947 ) Additions charged to income 1,130 Balance at February 28, 2017 $ 2,098

Restatement of Previously Iss31

Restatement of Previously Issued Financial Statements (Tables)	12 Months Ended
	Feb. 28, 2017
Accounting Changes and Error Corrections [Abstract]
Schedule of Restatement of Previously Issued Financial Statements	The table below sets forth the consolidated statements of income, including the balances originally reported, corrections and the as restated balances for each fiscal year: Year Ended February 28, 2017 February 29, 2016 As Reported Correction As Restated As Reported Correction As Restated (In thousands, except per share data) Net Sales $ 858,930 $ 4,608 $ 863,538 $ 903,192 $ (13,792 ) $ 889,400 Cost of Sales 654,146 4,060 658,206 673,081 (11,799 ) 661,282 Gross Profit 204,784 548 205,332 230,111 (1,993 ) 228,118 Operating Income 98,360 548 98,908 122,288 (1,993 ) 120,295 Income Before Income Taxes 84,749 548 85,297 104,368 (1,993 ) 102,375 Income Tax Expense 23,828 205 24,033 27,578 (747 ) 26,831 Net Income $ 60,921 $ 343 $ 61,264 $ 76,790 $ (1,246 ) $ 75,544 Earnings Per Common Share Basic Earnings Per Share $ 2.35 $ 0.01 $ 2.36 $ 2.98 $ (0.05 ) $ 2.93 Diluted Earnings Per Share $ 2.33 $ 0.02 $ 2.35 $ 2.96 $ (0.05 ) $ 2.91 Year Ended February 28, 2015 As Reported Correction As Restated (In thousands, except per share data) Net Sales $ 816,687 $ 3,005 $ 819,692 Cost of Sales 610,991 1,928 612,919 Gross Profit 205,696 1,077 206,773 Operating Income 106,825 1,077 107,902 Income Before Income Taxes 90,130 1,077 91,207 Income Tax Expense 25,187 404 25,591 Net Income $ 64,943 $ 673 $ 65,616 Earnings Per Common Share Basic Earnings Per Share $ 2.53 $ 0.03 $ 2.56 Diluted Earnings Per Share $ 2.52 $ 0.03 $ 2.55 The table below sets forth the consolidated statements of comprehensive income, including the balances originally reported, corrections and the as restated balances for each fiscal year: Year Ended February 28, 2017 February 29, 2016 As Reported Correction As Restated As Reported Correction As Restated (In thousands) Net Income $ 60,921 $ 343 $ 61,264 $ 76,790 $ (1,246 ) $ 75,544 Comprehensive Income 62,387 343 62,730 69,062 (1,246 ) 67,816 Year Ended February 28, 2015 As Reported Correction As Restated (In thousands) Net Income $ 64,943 $ 673 $ 65,616 Comprehensive Income 53,129 673 53,802 The table below sets forth the consolidated balance sheets, including the balances originally reported, corrections and the as restated balances for each fiscal year: February 28, 2017 February 29, 2016 As Reported Correction As Restated As Reported Correction As Restated Assets (In thousands) Inventories - net $ 123,208 $ (29,201 ) $ 94,007 $ 102,135 $ (25,004 ) $ 77,131 Costs and estimated earnings in excess of billings on uncompleted contracts 20,546 29,716 50,262 32,287 31,195 63,482 Total current assets 296,537 515 297,052 309,334 6,191 315,525 Total assets $ 977,839 $ 515 $ 978,354 $ 982,010 $ 6,191 $ 988,201 Liabilities and Shareholders’ Equity Other accrued liabilities $ 18,390 $ 5,652 $ 24,042 $ 20,406 $ 5,731 $ 26,137 Customer deposits 20,860 (19,401 ) 1,459 15,652 (15,652 ) $ — Billings in excess of costs and estimated earnings on uncompleted contracts 11,948 8,669 20,617 9,237 11,065 20,302 Total current liabilities 141,850 (5,080 ) 136,770 148,405 1,144 149,549 Deferred income tax liabilities 51,550 2,098 53,648 49,960 1,893 51,853 Total liabilities 448,200 (2,982 ) 445,218 500,794 3,037 503,831 Shareholders’ equity: Retained earnings 495,030 3,497 498,527 450,754 3,154 453,908 Total shareholders’ equity 529,639 3,497 533,136 481,216 3,154 484,370 Total liabilities and shareholders' equity $ 977,839 $ 515 $ 978,354 $ 982,010 $ 6,191 $ 988,201 The table below sets forth the consolidated statements of cash flows from operating activities, including the balances originally reported, corrections and the as restated balances for each fiscal year: Year Ended February 28, 2017 February 29, 2016 As Reported Correction As Restated As Reported Correction As Restated (In thousands) Cash flows from operating activities: Net income $ 60,921 $ 343 $ 61,264 $ 76,790 $ (1,246 ) $ 75,544 Deferred income taxes 1,509 205 1,714 2,707 (747 ) 1,960 Inventories (17,951 ) 4,197 (13,754 ) 11,124 (13,176 ) (2,052 ) Net change in billings related to costs and estimated earnings on uncompleted contracts 14,509 (917 ) 13,592 5,739 1,537 7,276 Other accrued liabilities and income taxes payable (6,383 ) (3,828 ) (10,211 ) (3,877 ) 13,632 9,755 Net cash provided by operating activities: $ 111,176 $ — $ 111,176 $ 143,589 $ — $ 143,589 Year Ended February 28, 2015 As Reported Correction As Restated (In thousands) Cash flows from operating activities: Net income $ 64,943 $ 673 $ 65,616 Deferred income taxes 15,818 404 16,222 Inventories (879 ) (2,484 ) (3,363 ) Net change in billings related to costs and estimated earnings on uncompleted contracts (5,635 ) (8,188 ) (13,823 ) Other accrued liabilities and income taxes payable (15,460 ) 9,595 (5,865 ) Net cash provided by operating activities: $ 118,157 $ — $ 118,157 The restatement had no impact on cash flows from investing activities or financing activities. The table below sets forth the consolidated statements of shareholders' equity, including the balances originally reported, corrections and the as restated balances for each fiscal year: Retained Earnings Total Stockholders' Equity (In thousands) Balance at February 28, 2014, as reported $ 339,400 $ 375,913 Correction 3,727 3,727 Balance at February 28, 2014, as restated $ 343,127 $ 379,640 Balance at February 28, 2015, as reported $ 389,446 $ 420,052 Correction 4,400 4,400 Balance at February 28, 2015, as restated $ 393,846 $ 424,452 Balance at February 29, 2016, as reported $ 450,754 $ 481,216 Correction 3,154 3,154 Balance at February 29, 2016, as restated $ 453,908 $ 484,370 Balance at February 28, 2017, as reported $ 495,030 $ 529,639 Correction 3,497 3,497 Balance at February 28, 2017, as restated $ 498,527 $ 533,136 The table below sets forth the unaudited selected quarterly financial data, including the balances originally reported, corrections and the as restated balances for each fiscal quarter: Quarter Ended May 31, 2016 August 31, 2016 As Reported Correction As Restated As Reported Correction As Restated (In thousands, except per share data) Net sales $ 242,667 $ 7,699 $ 250,366 $ 195,045 $ 5,745 $ 200,790 Gross profit 63,327 1,801 65,128 41,886 218 42,104 Net income 21,063 1,126 22,189 10,023 136 10,159 Basic earnings per share 0.81 0.05 0.86 0.39 — 0.39 Diluted earnings per share 0.81 0.04 0.85 0.38 0.01 0.39 Quarter Ended November 30, 2016 February 28, 2017 As Reported Correction As Restated As Reported Correction As Restated (In thousands, except per share data) Net sales $ 227,459 $ 657 $ 228,116 $ 193,759 $ (9,493 ) $ 184,266 Gross profit 53,866 (2,569 ) 51,297 45,705 1,098 46,803 Net income 18,251 (1,605 ) 16,646 11,584 686 12,270 Basic earnings per share 0.70 (0.06 ) 0.64 0.45 0.02 0.47 Diluted earnings per share 0.70 (0.06 ) 0.64 0.44 0.03 0.47 Quarter Ended May 31, 2015 August 31, 2015 As Reported Correction As Restated As Reported Correction As Restated (In thousands, except per share data) Net sales $ 228,888 $ 11,552 $ 240,440 $ 214,246 $ (14,576 ) $ 199,670 Gross profit 59,304 4,400 63,704 53,505 (3,803 ) 49,702 Net income 19,924 2,750 22,674 17,243 (2,377 ) 14,866 Basic earnings per share 0.77 0.11 0.88 0.67 (0.09 ) 0.58 Diluted earnings per share 0.77 0.11 0.88 0.67 (0.10 ) 0.57 Quarter Ended November 30, 2015 February 29, 2016 As Reported Correction As Restated As Reported Correction As Restated (In thousands, except per share data) Net sales $ 242,447 $ (851 ) $ 241,596 $ 217,611 $ (9,917 ) $ 207,694 Gross profit 62,448 (1,160 ) 61,288 54,854 (1,430 ) 53,424 Net income 23,547 (725 ) 22,822 16,076 (894 ) 15,182 Basic earnings per share 0.91 (0.03 ) 0.88 0.62 (0.03 ) 0.59 Diluted earnings per share 0.91 (0.03 ) 0.88 0.62 (0.04 ) 0.58

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Feb. 28, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories (net) consisted of the following at February 28, 2017 and February 29, 2016: 2017 2016 (Restated) (Restated) (In thousands) Raw materials $ 80,169 $ 66,548 Work-in-process 6,832 3,535 Finished goods 7,006 7,048 $ 94,007 $ 77,131

Property, Plant and Equipment33

Property, Plant and Equipment (Tables)	12 Months Ended
	Feb. 28, 2017
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment	Property, Plant, and Equipment Property, plant and equipment consisted of the following at February 28, 2017 and February 29, 2016: 2017 2016 (In thousands) Land $ 22,360 $ 21,265 Building and structures 139,627 141,370 Machinery and equipment 228,246 215,796 Furniture, fixtures, software and computers 25,593 22,237 Automotive equipment 2,998 3,206 Construction in progress 23,669 12,827 442,493 416,701 Less accumulated depreciation (213,883 ) (190,368 ) Net property, plant, and equipment $ 228,610 $ 226,333

Costs and Estimated Earnings 34

Costs and Estimated Earnings On Uncompleted Contracts (Tables)	12 Months Ended
	Feb. 28, 2017
Contractors [Abstract]
Costs in Excess of Billings and Billings in Excess of Costs	Costs and estimated earnings on uncompleted contracts consisted of the following at February 28, 2017 and February 29, 2016: 2017 2016 (Restated) (Restated) (In thousands) Costs incurred on uncompleted contracts $ 127,839 $ 195,751 Estimated earnings 53,598 78,667 181,437 274,418 Less billings to date 151,792 231,238 $ 29,645 $ 43,180 The amounts noted above are included in the accompanying consolidated balance sheets under the following captions: 2017 2016 (Restated) (Restated) (In thousands) Cost and estimated earnings in excess of billings on uncompleted contracts $ 50,262 $ 63,482 Billings in excess of costs and estimated earnings on uncompleted contracts (20,617 ) (20,302 ) $ 29,645 $ 43,180

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	12 Months Ended
	Feb. 28, 2017
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Liabilities	Other accrued liabilities consisted of the following at February 28, 2017 and February 29, 2016: 2017 2016 (Restated) (Restated) (In thousands) Accrued interest $ 2,036 $ 2,356 Tenant improvements 278 507 Accrued warranty 2,098 2,915 Commissions 2,483 2,685 Personnel expenses 8,251 8,456 Group medical insurance 1,969 1,699 Other 6,927 7,519 $ 24,042 $ 26,137

Realignment Costs (Tables)

Realignment Costs (Tables)	12 Months Ended
	Feb. 28, 2017
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table shows changes in the realignment accrual for the year ended February 28, 2017 and February 29, 2016: 2017 2016 (in thousands) Realignment cost accrued $ 61 $ 456 Additions to reserve 1,260 437 Realignment costs utilized (1,014 ) (832 ) $ 307 $ 61

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Feb. 28, 2017
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company’s net deferred income tax liability are as follows: 2017 2016 (Restated) (Restated) (In thousands) Deferred income tax assets: Employee related items $ 6,839 $ 5,652 Inventories 1,286 1,106 Accrued warranty 715 1,008 Accounts receivable 261 173 Net operating loss carry forward 4,011 2,903 13,112 10,842 Less: valuation allowance (648 ) (648 ) Total deferred income tax assets 12,464 10,194 Deferred income tax liabilities: Depreciation methods and property basis differences (27,913 ) (31,008 ) Other assets and tax-deductible goodwill (37,950 ) (30,839 ) Total deferred income tax liabilities (65,863 ) (61,847 ) Net deferred income tax liabilities $ (53,399 ) $ (51,653 )
Schedule of Components of Income Tax Expense (Benefit)	The provision for income taxes consists of: 2017 2016 2015 (Restated) (Restated) (Restated) (in thousands) Income before income taxes: Domestic $ 74,972 $ 93,561 $ 77,511 Foreign 10,325 8,814 13,696 Income before income taxes $ 85,297 $ 102,375 $ 91,207 Current provision (benefit): Federal $ 23,282 $ 28,099 $ 3,770 Foreign 2,751 2,706 3,025 State and Local (696 ) (337 ) 2,575 Total current provision for income taxes $ 25,337 $ 30,468 $ 9,370 Deferred provision (benefit): Federal $ (2,486 ) $ (6,560 ) $ 15,859 Foreign 189 (123 ) (858 ) State and Local 993 3,046 1,220 Total deferred provision (benefit) for income taxes $ (1,304 ) $ (3,637 ) $ 16,221 Total provision for income taxes $ 24,033 $ 26,831 $ 25,591
Summary of Operating Loss Carryforwards	The following table summarizes the Net Operating Loss (NOL) Carryforward: 2017 2016 (In thousands) Federal $ — $ — State $ 4,011 $ 2,903 Foreign $ — $ —
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation from the federal statutory income tax rate to the effective income tax rate is as follows: 2017 2016 2015 (Restated) (Restated) (Restated) Statutory federal income tax rate 35.0 % 35.0 % 35.0 % Permanent differences 0.7 0.4 0.6 State income taxes, net of federal income tax benefit 0.4 (1.5 ) 2.7 Benefit of Section 199 of the Code, manufacturing deduction (2.3 ) (2.7 ) (2.4 ) Valuation allowance — (1.2 ) (3.4 ) Stock compensation (1.8 ) — — Tax credits (3.1 ) (3.2 ) (3.4 ) Foreign tax rate differential (0.8 ) (0.4 ) (0.7 ) Other 0.1 (0.2 ) (0.3 ) Effective income tax rate 28.2 % 26.2 % 28.1 %

Goodwill and Intangible Asset38

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Feb. 28, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in goodwill by segment during the years ended February 28, 2017 and February 29, 2016 are as follows: Segment March 1, Acquisitions Foreign February 28, (In thousands) Galvanizing $ 109,314 $ — $ 666 $ 109,980 Energy 183,213 13,386 — 196,599 Total $ 292,527 $ 13,386 $ 666 $ 306,579 Segment March 1, Acquisitions Foreign February 29, (In thousands) Galvanizing $ 95,538 $ 15,576 $ (1,800 ) $ 109,314 Energy 183,536 — (323 ) 183,213 Total $ 279,074 $ 15,576 $ (2,123 ) $ 292,527
Schedule of Finite-Lived Intangible Assets by Major Class	Amortizable intangible assets consisted of the following at February 28, 2017 and February 29, 2016: 2017 2016 (In thousands) Amortizable intangible assets Customer related intangibles $ 177,514 $ 169,637 Non-compete agreements 5,651 5,596 Trademarks 4,569 4,569 Technology 7,400 7,400 Engineering drawings 24,600 24,600 Backlog 7,600 7,600 227,334 219,402 Less accumulated amortization (88,314 ) (71,201 ) $ 139,020 $ 148,201
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table projects the estimated amortization expense for the five succeeding fiscal years and thereafter. (In thousands) 2018 $ 16,206 2019 15,354 2020 14,831 2021 14,665 2022 12,580 Thereafter 65,384 Total $ 139,020

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Feb. 28, 2017
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: Year Ended 2017 2016 2015 (Restated) (Restated) (Restated) (In thousands, except per share data) Numerator: Net income for basic and diluted earnings per common share $ 61,264 $ 75,544 $ 65,616 Denominator: Denominator for basic earnings per common share–weighted average shares 25,965 25,800 25,676 Effect of dilutive securities: Employee and director stock awards 132 137 102 Denominator for diluted earnings per common share 26,097 25,937 25,778 Earnings per share basic and diluted: Basic earnings per common share $ 2.36 $ 2.93 $ 2.56 Diluted earnings per common share $ 2.35 $ 2.91 $ 2.55

Stock Compensation (Tables)

Stock Compensation (Tables)	12 Months Ended
	Feb. 28, 2017
Share-based Compensation [Abstract]
Restricted Stock Unit Awards Non-Vested	ctivity in our non-vested restricted stock unit awards for the year ended February 28, 2017 is as follows: Restricted Weighted Non-Vested Balance as of February 29, 2016 98,693 $ 45.03 Granted 73,921 56.66 Vested (35,330 ) 45.82 Forfeited (2,737 ) 50.71 Non-Vested Balance as of February 28, 2017 134,547 $ 51.10
Stock Appreciation Rights and Option Awards	A summary of the Company’s stock appreciation rights awards activity for the years ended February 28, 2017, February 29, 2016 and February 28, 2015 is as follows: 2017 2016 2015 SAR’s Weighted Average Exercise Price SAR’s Weighted Average Exercise Price SAR’s Weighted Average Exercise Price Outstanding at beginning of year 312,748 $ 34.23 376,982 $ 31.27 396,174 $ 26.64 Granted — — — — 126,532 43.92 Exercised (141,983 ) 24.85 (59,441 ) 14.67 (98,942 ) 22.79 Forfeited (626 ) 43.92 (4,793 ) 44.56 (46,782 ) 44.14 Outstanding at end of year 170,139 $ 42.02 312,748 $ 34.23 376,982 $ 31.27 Exercisable at end of year 126,975 $ 41.27 217,961 $ 29.83 204,107 $ 21.55 Weighted average fair value for the fiscal year indicated of SARs granted during such year $ — $ — $ 16.94
Share-based Compensation Activity	The following table summarizes additional information about stock appreciation rights outstanding at February 28, 2017 . Range of Total Average Weighted SAR’s Weighted $20.91 9,954 1.00 $ 20.91 9,954 $ 20.91 $25.67 9,538 2.00 $ 25.67 9,538 $ 25.67 $39.65 950 3.52 $ 39.65 950 $ 39.65 $43.92 89,180 4.01 $ 43.92 56,016 $ 43.92 $45.26 40,000 3.68 $ 45.26 30,000 $ 45.26 $45.36 19,758 3.00 $ 45.36 19,758 $ 45.36 $46.43 759 3.72 $ 46.43 759 $ 46.43 $20.91 - $46.43 170,139 3.52 $ 42.02 126,975 $ 41.27
Share-based Compensation Fair Value Assumptions	Assumptions used in the Black-Scholes option pricing model for fiscal year 2015 are as follows for all stock appreciation rights: 2015 Expected term in years 4.5 Expected dividend yield 1.20% – 1.32% Expected price volatility 35.39% – 40.00% Risk-free interest rate 2.32 – 2.73
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 for the fiscal years ended February 28, 2017, February 29, 2016 and February 28, 2015: Year ended 2017 2016 2015 (In thousands) Compensation expense $ 5,870 $ 4,538 $ 4,080 Income tax benefits $ 2,055 $ 1,588 $ 1,428

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Feb. 28, 2017
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following: 2017 2016 (In thousands) Senior Notes, due in balloon payment in January 2021 $ 125,000 $ 125,000 Senior Notes, due in annual installments of $14,286 beginning in March 2012 through March 2018 28,571 42,857 Term Note, due in quarterly installments beginning in June 2013 through March 2018 49,219 58,125 Revolving line of credit with bank 69,500 101,000 Total debt 272,290 326,982 Unamortized debt issuance costs for Senior Notes and Term Note (861 ) (1,361 ) Total debt, net 271,429 325,621 Less amount due within one year (16,629 ) (23,192 ) Debt due after one year, net $ 254,800 $ 302,429
Schedule of Maturities of Long-term Debt	Maturities of debt are as follows: Fiscal Year (In thousands) 2018 $ 16,629 2019 130,661 2020 — 2021 125,000 2022 — Thereafter — Total $ 272,290

Operating segments (Tables)

Operating segments (Tables)	12 Months Ended
	Feb. 28, 2017
Segment Reporting [Abstract]
Operations and assets by segment	Information regarding operations and assets by segment was as follows: 2017 2016 2015 (Restated) (Restated) (Restated) Net sales: (In thousands) Energy $ 488,002 $ 487,038 $ 461,344 Galvanizing 375,536 402,362 358,348 $ 863,538 $ 889,400 $ 819,692 Operating income: Energy $ 52,577 $ 56,478 $ 39,780 Galvanizing 79,033 94,766 88,562 Corporate (32,702 ) (30,949 ) (20,440 ) Total Operating Income 98,908 120,295 107,902 Interest expense 14,732 15,155 16,561 Net (gain) loss on sale of property, plant and equipment and insurance proceeds 76 (327 ) (2,525 ) Other (income) expense, net (1,197 ) 3,092 2,659 Income before income taxes $ 85,297 $ 102,375 $ 91,207 Depreciation and amortization: Energy $ 19,624 $ 19,131 $ 20,725 Galvanizing 28,650 26,863 23,964 Corporate 2,083 1,423 1,400 $ 50,357 $ 47,417 $ 46,089 Expenditures for acquisitions, net of cash, and property, plant and equipment: Energy $ 31,474 $ 12,863 $ 10,647 Galvanizing 32,099 86,724 26,928 Corporate 540 858 3,320 $ 64,113 $ 100,445 $ 40,895 Total assets: Energy $ 536,557 $ 506,269 $ 511,648 Galvanizing 428,330 436,471 378,823 Corporate 13,467 45,461 34,844 $ 978,354 $ 988,201 $ 925,315 Geographic net sales: United States $ 705,976 $ 710,767 $ 634,549 Other countries 157,718 179,832 189,855 Eliminations (156 ) (1,199 ) (4,712 ) $ 863,538 $ 889,400 $ 819,692 Property, plant and equipment, net: United States $ 205,079 $ 204,587 $ 173,712 Canada 18,002 17,868 20,289 Other Countries 5,529 3,878 2,582 $ 228,610 $ 226,333 $ 196,583

Commitments and Contingencies43

Commitments and Contingencies (Tables)	12 Months Ended
	Feb. 28, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	As February 28, 2017 , future minimum lease payments under non-cancelable operating leases with initial terms in excess of one year are summarized in the below table: Fiscal Year: (In thousands) 2018 $ 6,627 2019 5,629 2020 3,347 2021 2,655 2022 2,542 Thereafter 8,042 Total $ 28,842

Quarterly Financial Informati44

Quarterly Financial Information, Unaudited (Tables)	12 Months Ended
	Feb. 28, 2017
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Quarter ended May 31, August 31, November 30, February 28, (Restated) (Restated) (Restated) (Restated) (in thousands, except per share data) Net sales $ 250,366 $ 200,790 $ 228,116 $ 184,266 Gross profit 65,128 42,104 51,297 46,803 Net income 22,189 10,159 16,646 12,270 Basic earnings per share 0.86 0.39 0.64 0.47 Diluted earnings per share 0.85 0.39 0.64 0.47 Quarter ended May 31, August 31, November 30, February 29, (Restated) (Restated) (Restated) (Restated) (in thousands, except per share data) Net sales $ 240,440 $ 199,670 $ 241,596 $ 207,694 Gross profit 63,704 49,702 61,288 53,424 Net income 22,674 14,866 22,822 15,182 Basic earnings per share 0.88 0.58 0.88 0.59 Diluted earnings per share 0.88 0.57 0.88 0.58

Summary of Significant Accoun45

Summary of Significant Accounting Policies (Details) $ in Millions	12 Months Ended
	Feb. 28, 2017operating_segment	Jun. 02, 2012USD ($)
Business Acquisition [Line Items]
Number of operating segments | operating_segment	2
Nuclear Logistics Incorporated [Member]
Business Acquisition [Line Items]
Future contingent consideration | $		$ 20

Summary of Significant Accoun46

Summary of Significant Accounting Policies - Property, Plant, and Equipment (Details)	12 Months Ended
	Feb. 28, 2017
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	10 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	25 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	15 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	15 years
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Useful life	3 years

Summary of Significant Accoun47

Summary of Significant Accounting Policies - Intangible Assets (Details)	12 Months Ended
	Feb. 28, 2017
Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life	2 years
Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life	19 years

Summary of Significant Accoun48

Summary of Significant Accounting Policies - Product Warranty Roll-forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance, beginning balance	$ 2,915	$ 2,287	$ 1,338
Warranty costs incurred	(1,947)	(2,570)	(1,294)
Additions charged to income	1,130	3,198	2,243
Balance, ending balance	$ 2,098	$ 2,915	$ 2,287

Summary of Significant Accoun49

Summary of Significant Accounting Policies - Debt (Details) - Senior Notes [Member] - USD ($)	Feb. 28, 2017	Feb. 29, 2016	Jan. 21, 2011
Unsecured Senior Notes Due March 31, 2018 [Member]
Debt Instrument [Line Items]
Fair value of notes	$ 144,351,000	$ 154,665,000
Debt Instrument, Annual Principal Payment	14,300,000
Debt instrument, face amount	$ 100,000,000
Unsecured Senior Notes Due January 2021 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 125,000,000

Summary of Significant Accoun50

Summary of Significant Accounting Policies - Hedging Transactions (Details)	12 Months Ended
	Feb. 28, 2017USD ($)
Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate reclassified to earnings	$ 83,442

Summary of Significant Accoun51

Summary of Significant Accounting Policies - Long Term Contingent Consideration (Details) $ in Millions	Jun. 02, 2012USD ($)
Nuclear Logistics Incorporated [Member]
Business Acquisition, Contingent Consideration [Line Items]
Future contingent consideration	$ 20

Restatement of Previously Iss52

Restatement of Previously Issued Financial Statements - Income Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Sales	$ 184,266	$ 228,116	$ 200,790	$ 250,366	$ 207,694	$ 241,596	$ 199,670	$ 240,440	$ 863,538	$ 889,400	$ 819,692
Cost of Sales									658,206	661,282	612,919
Gross profit	46,803	51,297	42,104	65,128	53,424	61,288	49,702	63,704	205,332	228,118	206,773
Operating Income (Loss)									98,908	120,295	107,902
Income before income taxes									85,297	102,375	91,207
Income Tax Expense									24,033	26,831	25,591
Net Income	$ 12,270	$ 16,646	$ 10,159	$ 22,189	$ 15,182	$ 22,822	$ 14,866	$ 22,674	$ 61,264	$ 75,544	$ 65,616
Basic Earnings Per Share (usd per share)	$ 0.47	$ 0.64	$ 0.39	$ 0.86	$ 0.59	$ 0.88	$ 0.58	$ 0.88	$ 2.36	$ 2.93	$ 2.56
Diluted Earnings Per Share (usd per share)	$ 0.47	$ 0.64	$ 0.39	$ 0.85	$ 0.58	$ 0.88	$ 0.57	$ 0.88	$ 2.35	$ 2.91	$ 2.55
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Sales	$ 193,759	$ 227,459	$ 195,045	$ 242,667	$ 217,611	$ 242,447	$ 214,246	$ 228,888	$ 858,930	$ 903,192	$ 816,687
Cost of Sales									654,146	673,081	610,991
Gross profit	45,705	53,866	41,886	63,327	54,854	62,448	53,505	59,304	204,784	230,111	205,696
Operating Income (Loss)									98,360	122,288	106,825
Income before income taxes									84,749	104,368	90,130
Income Tax Expense									23,828	27,578	25,187
Net Income	$ 11,584	$ 18,251	$ 10,023	$ 21,063	$ 16,076	$ 23,547	$ 17,243	$ 19,924	$ 60,921	$ 76,790	$ 64,943
Basic Earnings Per Share (usd per share)	$ 0.45	$ 0.70	$ 0.39	$ 0.81	$ 0.62	$ 0.91	$ 0.67	$ 0.77	$ 2.35	$ 2.98	$ 2.53
Diluted Earnings Per Share (usd per share)	$ 0.44	$ 0.70	$ 0.38	$ 0.81	$ 0.62	$ 0.91	$ 0.67	$ 0.77	$ 2.33	$ 2.96	$ 2.52
Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Sales	$ (9,493)	$ 657	$ 5,745	$ 7,699	$ (9,917)	$ (851)	$ (14,576)	$ 11,552	$ 4,608	$ (13,792)	$ 3,005
Cost of Sales									4,060	(11,799)	1,928
Gross profit	1,098	(2,569)	218	1,801	(1,430)	(1,160)	(3,803)	4,400	548	(1,993)	1,077
Operating Income (Loss)									548	(1,993)	1,077
Income before income taxes									548	(1,993)	1,077
Income Tax Expense									205	(747)	404
Net Income	$ 686	$ (1,605)	$ 136	$ 1,126	$ (894)	$ (725)	$ (2,377)	$ 2,750	$ 343	$ (1,246)	$ 673
Basic Earnings Per Share (usd per share)	$ 0.02	$ (0.06)	$ 0	$ 0.05	$ (0.03)	$ (0.03)	$ (0.09)	$ 0.11	$ 0.01	$ (0.05)	$ 0.03
Diluted Earnings Per Share (usd per share)	$ 0.03	$ (0.06)	$ 0.01	$ 0.04	$ (0.04)	$ (0.03)	$ (0.10)	$ 0.11	$ 0.02	$ (0.05)	$ 0.03

Restatement of Previously Iss53

Restatement of Previously Issued Financial Statements - Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Income	$ 12,270	$ 16,646	$ 10,159	$ 22,189	$ 15,182	$ 22,822	$ 14,866	$ 22,674	$ 61,264	$ 75,544	$ 65,616
Comprehensive Income									62,730	67,816	53,802
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Income	11,584	18,251	10,023	21,063	16,076	23,547	17,243	19,924	60,921	76,790	64,943
Comprehensive Income									62,387	69,062	53,129
Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Income	$ 686	$ (1,605)	$ 136	$ 1,126	$ (894)	$ (725)	$ (2,377)	$ 2,750	343	(1,246)	673
Comprehensive Income									$ 343	$ (1,246)	$ 673

Restatement of Previously Iss54

Restatement of Previously Issued Financial Statements - Balance Sheets and Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015	Feb. 28, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Inventories - net	$ 94,007				$ 77,131				$ 94,007	$ 77,131
Costs and estimated earnings in excess of billings on uncompleted contracts	50,262				63,482				50,262	63,482
Total current assets	297,052				315,525				297,052	315,525
Assets	978,354				988,201				978,354	988,201	$ 925,315
Other accrued liabilities	24,042				26,137				24,042	26,137
Customer advance payment	1,459				0				1,459	0
Billings in excess of costs and estimated earnings on uncompleted contracts	20,617				20,302				20,617	20,302
Total Current Liabilities	136,770				149,549				136,770	149,549
Deferred income tax liabilities	53,648				51,853				53,648	51,853
Total liabilities	445,218				503,831				445,218	503,831
Retained earnings	498,527				453,908				498,527	453,908
Total Shareholders’ Equity	533,136				484,370				533,136	484,370	424,452	$ 379,640
Total Liabilities and Shareholders’ Equity	978,354				988,201				978,354	988,201
Net Income	12,270	$ 16,646	$ 10,159	$ 22,189	15,182	$ 22,822	$ 14,866	$ 22,674	61,264	75,544	65,616
Deferred income tax expense									1,714	1,960	16,222
Inventories									(13,754)	(2,052)	(3,363)
Net change in billings related to costs and estimated earnings on uncompleted contracts									13,592	7,276	(13,823)
Other accrued liabilities and income taxes payable									(10,211)	9,755	(5,865)
Net cash provided by operating activities:									111,176	143,589	118,157
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Inventories - net	123,208				102,135				123,208	102,135
Costs and estimated earnings in excess of billings on uncompleted contracts	20,546				32,287				20,546	32,287
Total current assets	296,537				309,334				296,537	309,334
Assets	977,839				982,010				977,839	982,010
Other accrued liabilities	18,390				20,406				18,390	20,406
Customer advance payment	20,860				15,652				20,860	15,652
Billings in excess of costs and estimated earnings on uncompleted contracts	11,948				9,237				11,948	9,237
Total Current Liabilities	141,850				148,405				141,850	148,405
Deferred income tax liabilities	51,550				49,960				51,550	49,960
Total liabilities	448,200				500,794				448,200	500,794
Retained earnings	495,030				450,754				495,030	450,754
Total Shareholders’ Equity	529,639				481,216				529,639	481,216	420,052	375,913
Total Liabilities and Shareholders’ Equity	977,839				982,010				977,839	982,010
Net Income	11,584	18,251	10,023	21,063	16,076	23,547	17,243	19,924	60,921	76,790	64,943
Deferred income tax expense									1,509	2,707	15,818
Inventories									(17,951)	11,124	(879)
Net change in billings related to costs and estimated earnings on uncompleted contracts									14,509	5,739	(5,635)
Other accrued liabilities and income taxes payable									(6,383)	(3,877)	(15,460)
Net cash provided by operating activities:									111,176	143,589	118,157
Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Inventories - net	(29,201)				(25,004)				(29,201)	(25,004)
Costs and estimated earnings in excess of billings on uncompleted contracts	29,716				31,195				29,716	31,195
Total current assets	515				6,191				515	6,191
Assets	515				6,191				515	6,191
Other accrued liabilities	5,652				5,731				5,652	5,731
Customer advance payment	(19,401)				(15,652)				(19,401)	(15,652)
Billings in excess of costs and estimated earnings on uncompleted contracts	8,669				11,065				8,669	11,065
Total Current Liabilities	(5,080)				1,144				(5,080)	1,144
Deferred income tax liabilities	2,098				1,893				2,098	1,893
Total liabilities	(2,982)				3,037				(2,982)	3,037
Retained earnings	3,497				3,154				3,497	3,154
Total Shareholders’ Equity	3,497				3,154				3,497	3,154	4,400	$ 3,727
Total Liabilities and Shareholders’ Equity	515				6,191				515	6,191
Net Income	$ 686	$ (1,605)	$ 136	$ 1,126	$ (894)	$ (725)	$ (2,377)	$ 2,750	343	(1,246)	673
Deferred income tax expense									205	(747)	404
Inventories									4,197	(13,176)	(2,484)
Net change in billings related to costs and estimated earnings on uncompleted contracts									(917)	1,537	(8,188)
Other accrued liabilities and income taxes payable									(3,828)	13,632	9,595
Net cash provided by operating activities:									$ 0	$ 0	$ 0

Restatement of Previously Iss55

Restatement of Previously Issued Financial Statements - Statement of Equity (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015	Feb. 28, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Shareholders’ Equity	$ 533,136	$ 484,370	$ 424,452	$ 379,640
Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Shareholders’ Equity	498,527	453,908	393,846	343,127
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Shareholders’ Equity	529,639	481,216	420,052	375,913
As Reported | Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Shareholders’ Equity	495,030	450,754	389,446	339,400
Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Shareholders’ Equity	3,497	3,154	4,400	3,727
Correction | Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Shareholders’ Equity	$ 3,497	$ 3,154	$ 4,400	$ 3,727

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 29, 2016
Inventory Disclosure [Abstract]
Raw materials	$ 80,169	$ 66,548
Work-in-process	6,832	3,535
Finished goods	7,006	7,048
Total Inventory	$ 94,007	$ 77,131

Property, Plant and Equipment57

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Property, Plant and Equipment [Line Items]
Depreciation	$ 33,400	$ 31,200	$ 28,100
Property, Plant and Equipment, Gross	442,493	416,701
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(213,883)	(190,368)
Property, plant, and equipment, net	228,610	226,333	$ 196,583
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	22,360	21,265
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	139,627	141,370
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	228,246	215,796
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	25,593	22,237
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,998	3,206
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 23,669	$ 12,827

Costs and Estimated Earnings 58

Costs and Estimated Earnings On Uncompleted Contracts - Accumulated Costs Net Of Billings (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 29, 2016
Contractors [Abstract]
Costs incurred on uncompleted contracts	$ 127,839	$ 195,751
Estimated earnings	53,598	78,667
Total costs and estimated earnings	181,437	274,418
Less billings to date	151,792	231,238
Total costs net of billings	$ 29,645	$ 43,180

- Costs Net of Billings By Bala

- Costs Net of Billings By Balance Sheet Location (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 29, 2016
Contractors [Abstract]
Cost and estimated earnings in excess of billings on uncompleted contracts	$ 50,262	$ 63,482
Billings in excess of costs and estimated earnings on uncompleted contracts	(20,617)	(20,302)
Total costs net of billings	$ 29,645	$ 43,180

Other Accrued Liabilities (Deta

Other Accrued Liabilities (Details) - USD ($)	Feb. 28, 2017	Feb. 29, 2016
Other Liabilities Disclosure [Abstract]
Accrued interest	$ 2,036,000	$ 2,356,000
Tenant improvements	278,000	507,000
Accrued warranty	2,098,000	2,915,000
Commissions	2,483,000	2,685,000
Personnel expenses	8,251,000	8,456,000
Group medical insurance	1,969,000	1,699,000
Other Sundry Liabilities, Current	6,927,000	7,519,000
Total other accrued liabilities	$ 24,042,000	$ 26,137,000

Realignment Costs (Details)

Realignment Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015	Aug. 01, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 307	$ 61	$ 456	$ 900
Restructuring Reserve, Period Increase (Decrease)	1,260	437
Restructuring Reserve, Adjustment Description	(1,014)	(832)
Gain (Loss) on Disposition of Assets	(6,602)	(286)	$ (2,651)
Restructuring Charges	8,000
One-time Termination Benefits [Member] | Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,300	200
One-time Termination Benefits [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		200
Other Restructuring [Member] | Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		200
Other Restructuring [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 6,700	$ 300

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Postemployment Benefits [Abstract]
Costs recognized for postemployement benefit plan	$ 4,526,223	$ 4,880,251	$ 10,042,744

Income Taxes - Provision of Inc

Income Taxes - Provision of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Income (loss) before income taxes:
Domestic	$ 74,972	$ 93,561	$ 77,511
Foreign	10,325	8,814	13,696
Income before income taxes	85,297	102,375	91,207
Current provision:
Federal	23,282	28,099	3,770
Foreign	2,751	2,706	3,025
State and Local	(696)	(337)	2,575
Total current provision for income taxes	25,337	30,468	9,370
Deferred provision (benefit):
Federal	(2,486)	(6,560)	15,859
Foreign	189	(123)	(858)
State and Local	993	3,046	1,220
Deferred Income Tax Expense (Benefit)	(1,304)	(3,637)	16,221
Total provision for income taxes	$ 24,033	$ 26,831	$ 25,591

Income Taxes - Reconcilliation

Income Taxes - Reconcilliation of Effective Income Tax Rate (Details)	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015	Feb. 28, 2014
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	35.00%		35.00%	35.00%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Meals and Entertainment, Percent	0.70%		0.40%	0.60%
State income taxes, net of federal income tax benefit	0.40%		(1.50%)	2.70%
Benefit of Section 199 of the Code, manufacturing deduction	2.30%		2.70%	2.40%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	0.00%		(1.20%)	(3.40%)
Effective Income Tax Rate Reconciliation,Other Reconciling Items, Percent	(1.80%)	0.00%	0.00%
Other	0.10%		(0.20%)	(0.30%)
Effective income tax rate	28.20%		26.20%	28.10%
Effective Income Tax Rate Reconciliation, Tax Credit, Percent	(3.10%)		(3.20%)	(3.40%)
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	(0.80%)		(0.40%)	(0.70%)

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 29, 2016
Deferred income tax assets:
Employee related items	$ 6,839	$ 5,652
Inventories	1,286	1,106
Accrued warranty	715	1,008
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts	261	173
Net operating loss carry forward	4,011	2,903
Total deferred income tax assets	13,112	10,842
Deferred Tax Assets, Valuation Allowance	(648)	(648)
Deferred Tax Assets, Net of Valuation Allowance	12,464	10,194
Deferred income tax liabilities:
Depreciation methods and property basis differences	(27,913)	(31,008)
Deferred Tax Liabilities, Goodwill and Intangible Assets	(37,950)	(30,839)
Total deferred income tax liabilities	(65,863)	(61,847)
Net deferred income tax liabilities	(53,399)	$ (51,653)
Excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries	$ 24,800

Income Taxes - Schedule of Net

Income Taxes - Schedule of Net Operating Loss Carryforwards (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 648	$ 648
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforward, tax impact	0	0
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforward, tax impact	4,011	2,903
Operating loss carryforwards	55,500
Foreign
Operating Loss Carryforwards [Line Items]
Operating loss carryforward, tax impact	$ 0	$ 0

Goodwill and Intangible Asset67

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 292,527	$ 279,074
Acquisitions	13,386	15,576
Foreign Exchange Translation	666	(2,123)
Goodwill, ending balance	306,579	292,527
Galvanizing Services [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	109,314	95,538
Acquisitions	0	15,576
Foreign Exchange Translation	666	(1,800)
Goodwill, ending balance	109,980	109,314
Energy [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	183,213	183,536
Acquisitions	13,386	0
Foreign Exchange Translation	0	(323)
Goodwill, ending balance	$ 196,599	$ 183,213

Goodwill and Intangible Asset68

Goodwill and Intangible Assets - Schedule of Amortizable Intangible Assets (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 29, 2016
Amortizable intangible assets
Finite-lived intangible assets, gross	$ 227,334	$ 219,402
Less accumulated amortization	(88,314)	(71,201)
Finite-Lived Intangible Assets, Net	139,020	148,201
Customer-Related Intangible Assets [Member]
Amortizable intangible assets
Finite-lived intangible assets, gross	177,514	169,637
Noncompete Agreements [Member]
Amortizable intangible assets
Finite-lived intangible assets, gross	5,651	5,596
Trademarks [Member]
Amortizable intangible assets
Finite-lived intangible assets, gross	4,569	4,569
Technology [Member]
Amortizable intangible assets
Finite-lived intangible assets, gross	7,400	7,400
Engineering Drawings [Member]
Amortizable intangible assets
Finite-lived intangible assets, gross	24,600	24,600
Order or Production Backlog [Member]
Amortizable intangible assets
Finite-lived intangible assets, gross	$ 7,600	$ 7,600

Goodwill and Intangible Asset69

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ 88,314	$ 71,201
Amortization of intangible assets	$ 16,927	$ 16,222	$ 18,039

Goodwill and Intangible Asset70

Goodwill and Intangible Assets - Schedule of Future Amortization (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 29, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
2,015	$ 16,206
2,016	15,354
2,017	14,831
2,018	14,665
2,019	12,580
Thereafter	65,384
Finite-Lived Intangible Assets, Net	$ 139,020	$ 148,201

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Numerator:
Net income	$ 12,270	$ 16,646	$ 10,159	$ 22,189	$ 15,182	$ 22,822	$ 14,866	$ 22,674	$ 61,264	$ 75,544	$ 65,616
Denominator:
Denominator for basic earnings per common share-weighted average shares (shares)									25,965,000	25,800,000	25,676,000
Effect of dilutive securities:
Employee and Director stock awards (shares)									132,000	137,000	102,000
Denominator for diluted earnings per common share (shares)									26,097,000	25,937,000	25,778,000
Earnings per share basic and diluted:
Basic earnings per common share (usd per share)	$ 0.47	$ 0.64	$ 0.39	$ 0.86	$ 0.59	$ 0.88	$ 0.58	$ 0.88	$ 2.36	$ 2.93	$ 2.56
Diluted Earnings Per Share (usd per share)	$ 0.47	$ 0.64	$ 0.39	$ 0.85	$ 0.58	$ 0.88	$ 0.57	$ 0.88	$ 2.35	$ 2.91	$ 2.55
Stock Appreciation Rights (SARs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount											80,683

Stock Compensation - Non-vested

Stock Compensation - Non-vested Restricted Stock Activity (Details) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Feb. 28, 2017$ / sharesshares
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 29, 2013 (shares) | shares	98,693
Granted (shares) | shares	73,921
Vested (shares) | shares	(35,330)
Forfeited (shares) | shares	(2,737)
Non-Vested Balance as of February 28, 2014 (shares) | shares	134,547
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 29, 2013, Weight Average Grant Date Fair Value (usd per share) | $ / shares	$ 45.030
Granted, Weighted Average Grant Date Fair Value (usd per share) | $ / shares	56.66
Vested, Weighted Average Grant Date Fair Value (usd per share) | $ / shares	45.82
Forfeited, Weighted Average Grant Date Fair Value (usd per share) | $ / shares	50.71
Non-Vested as of February 28, 2014, Weighted Average Grant Date Fair Value (usd per share) | $ / shares	$ 51.100

Stock Compensation - SARs and O

Stock Compensation - SARs and Option Awards Activity (Details) - Stock Appreciation Rights (SARs) [Member] - $ / shares	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments, Number of Shares [Roll Forward]
Outstanding at beginning of year (shares)	312,748	376,982	396,174
Granted (shares)	0	0	126,532
Exercised (shares)	(141,983)	(59,441)	(98,942)
Forfeited (shares)	(626)	(4,793)	(46,782)
Outstanding at end of year (shares)	170,139	312,748	376,982
Exercisable at end of year (shares)	126,975	217,961	204,107
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instrument, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning of year, Weighted Average Exercise Price (usd per share)	$ 34.23	$ 31.27	$ 26.64
Granted, Weighted Average Exercise Price (usd per share)	0	0	43.92
Exercised, Weighted Average Exercise Price (usd per share)	24.85	14.67	22.79
Forfeited, Weighted Average Exercise Price (usd per share)	43.92	44.56	44.14
Outstanding at end of year, Weighted Average Exercise Price (usd per share)	42.02	34.23	31.27
Exercisable at end of year, Weighted Average Exercise Price (usd per share)	41.27	29.83	21.55
Weighted average fair value for the fiscal year indicated of options and SARs granted during such year (usd per share)	$ 0	$ 0	$ 16.94

Stock Compensation - Schedule B

Stock Compensation - Schedule By Exercise Price Range (Details) - $ / shares	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015	Feb. 28, 2014
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Options/ SAR’s (shares)	170,139	312,748	376,982	396,174
Weighted Average Exercise Price, Outstanding (usd per share)	$ 42.02	$ 34.23	$ 31.27	$ 26.64
Options / SAR’s Currently Exercisable (shares)	126,975	217,961	204,107
Weighted Average Exercise Price, Exercisable (usd per share)	$ 41.27	$ 29.83	$ 21.55
$9.06 [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices (usd per share)	$ 20.91
Total Options/ SAR’s (shares)	9,954
Average Remaining Life	1 year
Weighted Average Exercise Price, Outstanding (usd per share)	$ 20.91
Options / SAR’s Currently Exercisable (shares)	9,954
Weighted Average Exercise Price, Exercisable (usd per share)	$ 20.91
$15.84 [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices (usd per share)	$ 25.67
Total Options/ SAR’s (shares)	9,538
Average Remaining Life	2 years
Weighted Average Exercise Price, Outstanding (usd per share)	$ 25.67
Options / SAR’s Currently Exercisable (shares)	9,538
Weighted Average Exercise Price, Exercisable (usd per share)	$ 25.67
$20.91 [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices (usd per share)	$ 39.65
Total Options/ SAR’s (shares)	950
Average Remaining Life	3 years 6 months 6 days
Weighted Average Exercise Price, Outstanding (usd per share)	$ 39.65
Options / SAR’s Currently Exercisable (shares)	950
Weighted Average Exercise Price, Exercisable (usd per share)	$ 39.65
$25.67 [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices (usd per share)	$ 43.92
Total Options/ SAR’s (shares)	89,180
Average Remaining Life	4 years 3 days
Weighted Average Exercise Price, Outstanding (usd per share)	$ 43.92
Options / SAR’s Currently Exercisable (shares)	56,016
Weighted Average Exercise Price, Exercisable (usd per share)	$ 43.92
$45.36 [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices (usd per share)	$ 45.26
Total Options/ SAR’s (shares)	40,000
Average Remaining Life	3 years 8 months 4 days
Weighted Average Exercise Price, Outstanding (usd per share)	$ 45.26
Options / SAR’s Currently Exercisable (shares)	30,000
Weighted Average Exercise Price, Exercisable (usd per share)	$ 45.26
$45.26 [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices (usd per share)	$ 45.36
Total Options/ SAR’s (shares)	19,758
Average Remaining Life	3 years
Weighted Average Exercise Price, Outstanding (usd per share)	$ 45.36
Options / SAR’s Currently Exercisable (shares)	19,758
Weighted Average Exercise Price, Exercisable (usd per share)	$ 45.36
$42.08 [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices (usd per share)	$ 46.43
Total Options/ SAR’s (shares)	759
Average Remaining Life	3 years 8 months 18 days
Weighted Average Exercise Price, Outstanding (usd per share)	$ 46.43
Options / SAR’s Currently Exercisable (shares)	759
Weighted Average Exercise Price, Exercisable (usd per share)	$ 46.43
$9.06 - $45.36 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, lower limit (usd per share)		9.06
Exercise price range, upper limit (usd per share)		$ 46.43
$9.06 - $45.36 [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Options/ SAR’s (shares)	170,139
Average Remaining Life	3 years 6 months 7 days
Weighted Average Exercise Price, Outstanding (usd per share)	$ 42.02
Options / SAR’s Currently Exercisable (shares)	126,975
Weighted Average Exercise Price, Exercisable (usd per share)	$ 41.27

Stock Compensation - Fair Value

Stock Compensation - Fair Value Assumptions (Details) - Stock Appreciation Rights (SARs) [Member]	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015	Feb. 28, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life in years	7 years
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected price volatilty (minimum)		35.39%	36.34%	45.00%
Expected price volatility (maximum)		40.00%	53.00%	47.83%
Risk-free interest rate (minimum)		2.32%	75.00%	59.00%
Risk-free interest rate (maximum)		2.73%	2.98%	89.00%
Employee Stock Purchase Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life in years		4 years 6 months	4 years 6 months	4 years 6 months
Expected dividend yield		1.20%	1.21%	1.76%
Employee Stock Purchase Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life in years		4 years 6 months	4 years 6 months	4 years 6 months
Expected dividend yield		1.32%	1.49%	1.95%

Stock Compensation - Share-base

Stock Compensation - Share-based Compensation and Income Taxes (Details) - USD ($)	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Share-based Compensation [Abstract]
Excess Tax Benefit excluded from cash flow	$ 1,500,000
Excess Tax Benefit from Share-based Compensation, Financing Activities	0	$ 1,025,000	$ 259,000
Share based compensation expense and related income tax benefits
Compensation Expense	5,870,239	4,538,255	4,080,203
Income tax benefits	$ 2,054,584	$ 1,588,389	$ 1,428,071

Stock Compensation (Details Tex

Stock Compensation (Details Textual)	12 Months Ended
	Feb. 28, 2017USD ($)share_based_compensation_plan$ / sharesshares	Feb. 29, 2016USD ($)$ / sharesshares	Feb. 28, 2015USD ($)$ / sharesshares	Feb. 29, 2012shares
Share Based Compensation (Textual) [Abstract]
Number of share-based compensation plans | share_based_compensation_plan	1
Shares authorized (shares) | shares	1,500,000
Share for future issuance (shares) | shares	1,270,511
Unrecognized compensation cost	$ 6,764,700
Unrecongized compensation cost, amortization period	1 year 10 months 28 days
Tax benefits from stock options exercised	$ 0	$ 1,025,000	$ 259,000
Employee Stock Purchase Plan [Member]
Share Based Compensation (Textual) [Abstract]
Granted option lower than	85.00%
Restricted common stock under plan	$ 25,000
Common stock purchased during period (shares) | shares	5,000
Directors Grants [Member]
Share Based Compensation (Textual) [Abstract]
Shares of company common stock (shares) | shares	1,641	1,915	2,000	1,000
Value of common stock grants (usd per share) | $ / shares	$ 60.94	$ 52.21	$ 44.90
Restricted Stock Units (RSUs) [Member]
Share Based Compensation (Textual) [Abstract]
Vesting ratably term	3 years
Total fair value of vested shares	$ 1,618,996	$ 897,712	$ 818,519
Non-vested shares outstanding (shares) | shares	134,547	98,693	77,446
Non-vested shares outstanding, weighted average grant date fair value (usd per share) | $ / shares	$ 51.100	$ 45.030	$ 41.310
Stock Appreciation Rights (SARs) [Member]
Share Based Compensation (Textual) [Abstract]
Vesting ratably term	3 years
Term for the contract	7 years
Outstanding average contractual term	3 years 6 months 7 days
Outstanding aggregate intrinsic value	$ 2,800,000
Average remaining contractual term	3 years 4 months 17 days
Aggregate remaining intrinsic value	$ 2,200,000

Stock Compensation Performance

Stock Compensation Performance Share Units (Details) - Performance Shares [Member] - $ / shares	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 57.47
Non-vested shares outstanding, weighted average grant date fair value (usd per share)	$ 51.700	$ 46.650
Non-vested shares outstanding (shares)	51,426	27,415
Granted (shares)	24,011
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 0

Long-term Debt - Schedule of L

Long-term Debt - Schedule of Long-term Debt (Details) - USD ($)	12 Months Ended
	Feb. 28, 2015	Feb. 28, 2017	Feb. 29, 2016
Debt Instrument [Line Items]
Total		$ 271,429,000	$ 325,621,000
Debt, Current	$ 23,192,000	16,629,000	23,192,000
Long-term Debt, Gross		272,290,000	326,982,000
Unamortized Debt Issuance Expense		(861,000)	(1,361,000)
Long-term debt, exculding current maturities	302,429,000	254,800,000	302,429,000
Senior Notes [Member] | Unsecured Senior Notes Due January 2021 [Member]
Debt Instrument [Line Items]
Total		125,000,000	125,000,000
Senior Notes [Member] | Unsecured Senior Notes Due March 2012 through March 2018 [Member]
Debt Instrument [Line Items]
Total		28,571,000	42,857,000
Annual installments	$ 14,285,714
Medium-term Notes [Member]
Debt Instrument [Line Items]
Total		49,219,000	58,125,000
Line of Credit [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Total		$ 69,500,000	$ 101,000,000

Long-term Debt - Narrative (De

Long-term Debt - Narrative (Details)	Mar. 27, 2013USD ($)	Feb. 28, 2017USD ($)	Feb. 28, 2015USD ($)	Feb. 28, 2013USD ($)	Jan. 21, 2011USD ($)	Mar. 31, 2008USD ($)
Senior Notes [Member] | Unsecured Senior Notes Due March 2012 through March 2018 [Member]
Debt Instrument [Line Items]
Covenant, net worth minimum			$ 116,900,000
Covenant, minimum retention of future income			50.00%
Covenant, minimum fixed charge coverage ratio			2
Debt instrument, face amount						$ 100,000,000
Debt instrument, stated percentage						6.24%
Covenant, minimum ratio of indebtedness to EBIDTA			3.25
Covenant, maximum percentage of priority indebtedness			10.00%
Senior Notes [Member] | Unsecured Senior Notes Due January 2021 [Member]
Debt Instrument [Line Items]
Covenant, net worth minimum		$ 116,900,000
Covenant, minimum retention of future income		50.00%
Covenant, minimum fixed charge coverage ratio		2
Debt instrument, face amount					$ 125,000,000
Debt instrument, stated percentage					5.42%
Covenant, minimum ratio of indebtedness to EBIDTA		3.25
Covenant, maximum percentage of priority indebtedness		10.00%
Revolving Credit Facility [Member] | Bank of America [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Covenant, net worth minimum	$ 230,000,000
Covenant, minimum retention of future income	50.00%
Covenant, maximum leverage ratio	3.25
Covenant, minimum fixed charge coverage ratio	1.75
Covenant, maximum capital expenditures	$ 60,000,000
Capital expenditure covenant	50,000,000
Amount outstanding on line of credit		$ 69,500,000		$ 0
Letters of credit outstanding		23,100,000
Remaining borrowing capacity on line of credit		$ 132,400,000
Revolving Credit Facility [Member] | Bank Of America And Other Lenders [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 225,000,000
Revolving Credit Facility [Member] | Bank Of America And Other Lenders [Member] | Line of Credit [Member] | Maximum [Member]
Debt Instrument [Line Items]
Variable rate description	Eurodollar
Revolving Credit Facility [Member] | Bank Of America And Other Lenders [Member] | Line of Credit [Member] | Eurodollar [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread		1.00%
Commitment fees	0.20%
Revolving Credit Facility [Member] | Bank Of America And Other Lenders [Member] | Line of Credit [Member] | Eurodollar [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread		2.00%
Commitment fees	0.30%
Line of Credit [Member] | Bank Of America And Other Lenders [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 75,000,000
Accordion feature	$ 75,000,000

Long-term Debt - Schedule of81

Long-term Debt - Schedule of Long-term Debt Maturities (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 29, 2016
Debt Disclosure [Abstract]
2,015	$ 16,629
2,016	130,661
2,017	0
2,018	125,000
2,019	0
Thereafter	0
Total	271,429	$ 325,621
Long-term Debt, Gross	$ 272,290	$ 326,982

Operating segments - Narrative

Operating segments - Narrative (Details)	12 Months Ended
	Feb. 28, 2017operating_segment
Segment Reporting [Abstract]
Number of operating segments	2

Operating segments (Details)

Operating segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Operations and assets by segment
Net sales	$ 184,266	$ 228,116	$ 200,790	$ 250,366	$ 207,694	$ 241,596	$ 199,670	$ 240,440	$ 863,538	$ 889,400	$ 819,692
Segment Operating income									98,908	120,295	107,902
Gain (Loss) on Disposition of Property Plant Equipment									76	(327)	(2,525)
Other Nonoperating Income (Expense)									1,197	(3,092)	(2,659)
Interest expense									14,732	15,155	16,561
Total Operating Income									85,297	102,375	91,207
Depreciation and amortization									50,357	47,417	46,089
Expenditures for acquisitions, net of cash, and property, plant and equipment									64,113	100,445	40,895
Assets	978,354				988,201				978,354	988,201	925,315
Goodwill	306,579				292,527				306,579	292,527	279,074
Property, Plant and Equipment, Net	228,610				226,333				228,610	226,333	196,583
Galvanizing Services [Member]
Operations and assets by segment
Net sales									375,536	402,362	358,348
Segment Operating income									79,033	94,766	88,562
Depreciation and amortization									28,650	26,863	23,964
Expenditures for acquisitions, net of cash, and property, plant and equipment									32,099	86,724	26,928
Assets	428,330				436,471				428,330	436,471	378,823
Goodwill	109,980				109,314				109,980	109,314	95,538
Corporate, Non-Segment [Member]
Operations and assets by segment
Segment Operating income									(32,702)	(30,949)	(20,440)
Corporate [Member]
Operations and assets by segment
Depreciation and amortization									2,083	1,423	1,400
Expenditures for acquisitions, net of cash, and property, plant and equipment									540	858	3,320
Assets	13,467				45,461				13,467	45,461	34,844
Energy [Member]
Operations and assets by segment
Net sales									488,002	487,038	461,344
Segment Operating income									52,577	56,478	39,780
Depreciation and amortization									19,624	19,131	20,725
Expenditures for acquisitions, net of cash, and property, plant and equipment									31,474	12,863	10,647
Assets	536,557				506,269				536,557	506,269	511,648
Goodwill	196,599				183,213				196,599	183,213	183,536
UNITED STATES
Operations and assets by segment
Net sales									705,976	710,767	634,549
Property, Plant and Equipment, Net	205,079				204,587				205,079	204,587	173,712
International [Member]
Operations and assets by segment
Net sales									157,718	179,832	189,855
Geography Eliminations [Member]
Operations and assets by segment
Net sales									(156)	(1,199)	(4,712)
CANADA
Operations and assets by segment
Property, Plant and Equipment, Net	18,002				17,868				18,002	17,868	20,289
Other Countries [Member]
Operations and assets by segment
Property, Plant and Equipment, Net	$ 5,529				$ 3,878				$ 5,529	$ 3,878	$ 2,582

Commitments and Contingencies84

Commitments and Contingencies (Details) - USD ($)	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Commitments and Contingencies Disclosure [Abstract]
Minimum operating lease term	1 year
Rent expense	$ 17,010,000	$ 13,871,000	$ 14,070,895

Commitments and Contingencies -

Commitments and Contingencies - Schedule Of Future Operating Lease Expenses (Details) $ in Thousands	Feb. 28, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,015	$ 6,627
2,016	5,629
2,017	3,347
2,018	2,655
2,019	2,542
Thereafter	8,042
Total	$ 28,842

Commitments and Contingencies86

Commitments and Contingencies - Product Warranty Accrual (Details) - USD ($)	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015	Feb. 28, 2014
Loss Contingencies [Line Items]
Reserve for warranty	$ 2,098,000	$ 2,915,000	$ 2,287,000	$ 1,338,000
Accrued warranty	2,098,000	$ 2,915,000
Energy [Member]
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 23,100,000

Quarterly Financial Informati87

Quarterly Financial Information, Unaudited (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 184,266	$ 228,116	$ 200,790	$ 250,366	$ 207,694	$ 241,596	$ 199,670	$ 240,440	$ 863,538	$ 889,400	$ 819,692
Gross profit	46,803	51,297	42,104	65,128	53,424	61,288	49,702	63,704	205,332	228,118	206,773
Net income	$ 12,270	$ 16,646	$ 10,159	$ 22,189	$ 15,182	$ 22,822	$ 14,866	$ 22,674	$ 61,264	$ 75,544	$ 65,616
Basic earnings per common share (usd per share)	$ 0.47	$ 0.64	$ 0.39	$ 0.86	$ 0.59	$ 0.88	$ 0.58	$ 0.88	$ 2.36	$ 2.93	$ 2.56
Diluted earnings per common share (usd per share)	$ 0.47	$ 0.64	$ 0.39	$ 0.85	$ 0.58	$ 0.88	$ 0.57	$ 0.88	$ 2.35	$ 2.91	$ 2.55

Acquisitions - Purchase Price A

Acquisitions - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Purchase Price Allocation
Goodwill	$ 306,579	$ 292,527	$ 279,074

Acquisitions (Details Textual)

Acquisitions (Details Textual) - USD ($)	Jun. 30, 2014	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015	Jun. 02, 2012
Business Acquisition [Line Items]
Liabilities assumed	$ 300,000
Goodwill		$ 306,579,000	$ 292,527,000	$ 279,074,000
Purchase price of acquisition, net of cash		$ 22,679,000	$ 60,584,000	$ 11,518,000
Zalk Steel [Member]
Business Acquisition [Line Items]
Goodwill	3,300,000
Purchase price of acquisition	10,500,000
Intangible assets acquired	$ 3,400,000
Nuclear Logistics Incorporated [Member]
Business Acquisition [Line Items]
Future contingent consideration					$ 20,000,000
Customer Relationships [Member] | Zalk Steel [Member]
Business Acquisition [Line Items]
Weighted average useful life		19 years
Trade Names [Member] | Zalk Steel [Member]
Business Acquisition [Line Items]
Weighted average useful life		19 years
Noncompete Agreements [Member] | Zalk Steel [Member]
Business Acquisition [Line Items]
Weighted average useful life		5 years

Schedule II _ Valuation and Q90

Schedule II : Valuation and Qualiying Accounts and Reserves (Details) - Allowance for Doubtful Accounts [Member] - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2015
Allowance for Doubtful Accounts
Balance at Beginning of year	$ 264	$ 1,472	$ 1,744
Valuation Allowances and Reserves, Adjustments	48	(1,072)	458
Valuation Allowances and Reserves, Deductions	20	(176)	(700)
Valuation Allowances and Reserves, Period Increase (Decrease)	4	(8)	(30)
Balance at end of year	347	264	1,472
Valuation Allowances and Reserves, Adjustments	$ 11	$ 48	$ 0