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Assets Held for Sale | 3 Months Ended
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May 31, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Assets Held for Sale | Assets Held for Sale The Company has been executing a plan to divest certain non-core businesses. The strategic decision to divest of these businesses reflects the Company's long-term strategy to become a more focused metal coatings company. The historical annual sales, operating profit and net assets of these businesses were not significant enough to qualify as discontinued operations. Assets and liabilities allocated to the disposal group are as follows:
|  | As of May 31, 2021
Assets |  |
Accounts receivable |  | $ | 4,715 |
Inventories |  | 2,600 |
Contract assets |  | 2,204 |
Other current assets |  | 186 |
Property, plant and equipment |  | 1,348 |
Other assets |  | 43 |
Goodwill |  | 1,693 |
Liabilities |  |
Accounts payable |  | 856 |
Contract liabilities |  | 1,926 |
Other accrued liabilities |  | 877 |
Lease liability – long term |  | 12 |
Total carrying value |  | 9,118 |
Less: Impairment of carrying value of remaining assets held for sale to estimated sales price |  | (3,490) |
Fair value of disposal group |  | $ | 5,628 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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