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Acquisitions (Tables) | 6 Months Ended
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Aug. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of assets acquired and liabilities assumed | The following table represents the summary of the assets acquired and liabilities assumed, in aggregate, related to the Precoat Acquisition, as of the date of the acquisition (in thousands):
|  | May 13, 2022
Assets |  |
Accounts receivable |  | $ | 77,422 |
Inventories |  | 43,369 |
Contract assets |  | 68,314 |
Prepaid expenses and other |  | 2,247 |
Property, plant and equipment |  | 305,503 |
Right-of-use asset |  | 13,753 |
Goodwill |  | 527,793 |
Deferred tax asset |  | 8,660 |
Intangibles and other assets |  | 446,546 |
Total fair value of assets acquired |  | $ | 1,493,607 |
Liabilities |  |
Accounts payable |  | (99,223) |
Accrued expenses |  | (31,761) |
Other accrued liabilities |  | (5,330) |
Lease liability, short-term |  | (2,440) |
Lease liability, long-term |  | (11,313) |
Other long-term liabilities |  | (60,091) |
Total fair value of liabilities assumed |  | $ | (210,158) |
Total purchase price, net of cash acquired |  | $ | 1,283,449 |
Pro forma information |
|  | Three Months Ended August 31, |  | Six Months Ended August 31,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Revenue |  | $ | 398,542 |  |  | $ | 406,710 |  |  | 789,415 |  |  | 806,864 |
Net income from continuing operations(1) |  | $ | 28,332 |  |  | $ | 25,120 |  |  | 56,854 |  |  | 25,015 |
(1) Net income for the six months ended August 31, 2022 includes acquisition costs of approximately $45.0 million, of which $11.5 million was incurred by AZZ and $33.5 million was incurred by Precoat Metals prior to the acquisition.

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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