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Defined Benefit Pension Plan | 3 Months Ended
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May 31, 2026
Postemployment Benefits [Abstract] |
Defined Benefit Pension Plan | 16. Defined Benefit Pension Plan Pension and Employee Benefit Obligations In our AZZ Precoat Metals segment, certain current or past employees participate in a defined benefit pension plan (the "Plan"). Prior to the acquisition of AZZ Precoat Metals, 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. During the first quarter of fiscal year 2027, the Company's Board of Directors approved a plan to terminate the Plan. The Company intends to complete the termination through a combination of lump-sum distributions to active and terminated vested plan participants and the purchase of annuity contracts for current in-pay participants and those participants who do not elect a lump sum distribution. The termination process is subject to regulatory requirements, including approval from the Internal Revenue Service ("IRS") and the Pension Benefit Guaranty Corporation ("PBGC"), and is expected to be completed by the end of fiscal year 2028. The approval of the Plan termination does not result in an immediate settlement of the Company's pension obligation. The Company expects to recognize settlement accounting in future periods as individual settlement transactions occur. Upon settlement, the Company may be required to remeasure the Plan's projected benefit obligation and plan assets and may recognize in earnings a portion of the actuarial gains or losses currently recorded in AOCI. At this time, the Company is unable to reasonably estimate the total financial impact of the Plan termination, including the timing and amount of any gains or losses that may be recognized in future periods. As of May 31, 2026, the Plan was underfunded, and we have a net pension obligation of $13.7 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 and were not significant for the three months ended May 31, 2026 and 2025. We paid employer contributions of $1.3 million into the Plan during the three months ended May 31, 2026. We expect to pay $1.9 million of contributions into the Plan during the remainder of fiscal year 2027.

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