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Defined Benefit Pension Plan | 3 Months Ended
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May 31, 2024
Postemployment Benefits [Abstract] |
Defined Benefit Pension Plan | 15. Defined Benefit Pension Plan Pension and Employee Benefit Obligations In our Precoat Metals segment, certain current or past employees participate in a defined benefit pension plan (the "Plan"). Prior to the Precoat Acquisition, benefit accruals were frozen for all participants. After the freeze, participants no longer accrued benefits under the Plan, and new hires of AZZ Precoat Metals are not eligible to participate in the Plan. As of May 31, 2024, the Plan was underfunded, and we have a pension liability of $30.3 million, which is included in "Other long-term liabilities" in the consolidated balance sheets and represents the underfunded portion of the Plan. The components of net benefit cost other than the employer service cost are included in "Selling, general and administrative" expense. We recognized $0.2 million of net benefit cost for the three months ended May 31, 2024. We paid employer contributions of $1.1 million into the Plan during the three months ended May 31, 2024. We expect to pay $6.7 million of contributions into the Plan during the remainder of fiscal 2025.

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