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Revenues (Notes) | 3 Months Ended
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May 31, 2019
Revenues [Abstract] |
Revenue from Contract with Customer [Text Block] | Revenues Disaggregated Revenue The following table presents disaggregated revenue by customer industry (in thousands):
|  | Three Months Ended May 31,
|  | 2019 |  | 2018
Net sales: |  |  |  |
Industrial - oil and gas, construction, and general |  | $ | 164,800 |  |  | $ | 151,308 |
Transmission and distribution |  | 72,281 |  |  | 65,954 |
Power generation |  | 52,042 |  |  | 44,974 |
Total net sales |  | $ | 289,123 |  |  | $ | 262,236 |
See Note 5 for revenue information by segment. Contract Liabilities The following table shows the changes in contract liabilities for the three months ended May 31, 2019 and 2018, respectively (in thousands):
|  | May 31, 2019 |  | May 31, 2018
Balance at beginning of period |  | $ | 56,928 |  |  | $ | 22,698 |
Contract liabilities added during the period |  | 10,970 |  |  | 16,441 |
Revenue recognized during the period |  | (45,579 | ) |  | (17,301 | )
Balance at end of period |  | $ | 22,319 |  |  | $ | 21,838 |
The Company did not record any revenues for the three months ended May 31, 2019 or 2018 related to performance obligations satisfied in prior periods. The increases or decreases in accounts receivable, contract assets and contract liabilities during the three months ended May 31, 2019 and 2018 were due primarily to normal timing differences between the Company’s performance and customer payments. The acquisitions described in Note 9 had no impact on contract assets or liabilities as of the date of acquisitions. The Company expects to recognize revenues of approximately $17.9 million, $2.0 million, $2.3 million and $0.1 million in fiscal 2020, 2021, 2022 and 2023, respectively, related to the $22.3 million balance of contract liabilities as of May 31, 2019.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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