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v3.25.1

Business Segment Data (Tables) | 12 Months Ended
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Mar. 01, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information |
(In thousands) |  | Architectural Metals |  | Architectural Services |  | Architectural Glass |  | Performance Surfaces |  |  |  | Total
52-Weeks Ended March 1, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 524,617 |  |  | $ | 419,861 |  |  | $ | 294,385 |  |  | $ | 122,131 |  |  |  |  | $ | 1,360,994 |
Intersegment net sales |  | 92 |  |  | — |  |  | 27,812 |  |  | — |  |  |  |  | 27,904 |
|  | 524,709 |  |  | 419,861 |  |  | 322,197 |  |  | 122,131 |  |  |  |  | 1,388,898 |
Adjusted cost of sales (1) |  | (373,902) |  |  | (344,702) |  |  | (220,636) |  |  | (76,487) |  |  |  |  | (1,015,727) |
Adjusted SG&A (2) |  | (96,687) |  |  | (45,604) |  |  | (42,287) |  |  | (21,505) |  |  |  |  | (206,083) |
Adjusted other income (expense), net (3) |  | — |  |  | — |  |  | 115 |  |  | — |  |  |  |  | 115 |
Adjusted EBIT |  | $ | 54,120 |  |  | $ | 29,555 |  |  | $ | 59,389 |  |  | $ | 24,139 |  |  |  |  | $ | 167,203 |
53-Weeks Ended March 2, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 598,248 |  |  | $ | 377,443 |  |  | $ | 342,028 |  |  | $ | 99,223 |  |  |  |  | $ | 1,416,942 |
Intersegment net sales |  | 3,488 |  |  | 979 |  |  | 36,421 |  |  | — |  |  |  |  | 40,888 |
|  | 601,736 |  |  | 378,422 |  |  | 378,449 |  |  | 99,223 |  |  |  |  | 1,457,830 |
Adjusted cost of sales (1) |  | (425,424) |  |  | (323,761) |  |  | (267,469) |  |  | (60,636) |  |  |  |  | (1,077,290) |
Adjusted SG&A (2) |  | (105,509) |  |  | (40,295) |  |  | (42,934) |  |  | (14,354) |  |  |  |  | (203,092) |
Adjusted other income (expense), net (3) |  | — |  |  | — |  |  | (2,263) |  |  | — |  |  |  |  | (2,263) |
Adjusted EBIT |  | $ | 70,803 |  |  | $ | 14,366 |  |  | $ | 65,783 |  |  | $ | 24,233 |  |  |  |  | $ | 175,185 |
52-Weeks Ended February 25, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 647,949 |  |  | $ | 408,566 |  |  | $ | 279,966 |  |  | $ | 104,215 |  |  |  |  | $ | 1,440,696 |
Intersegment net sales |  | 1,829 |  |  | 2,061 |  |  | 36,588 |  |  | — |  |  |  |  | 40,478 |
|  | 649,778 |  |  | 410,627 |  |  | 316,554 |  |  | 104,215 |  |  |  |  | 1,481,174 |
Adjusted cost of sales (1) |  | (463,902) |  |  | (352,372) |  |  | (247,073) |  |  | (64,565) |  |  |  |  | (1,127,912) |
Adjusted SG&A (2) |  | (104,002) |  |  | (40,115) |  |  | (40,872) |  |  | (14,303) |  |  |  |  | (199,292) |
Adjusted other income (expense), net (3) |  | — |  |  | — |  |  | (47) |  |  | — |  |  |  |  | (47) |
Adjusted EBIT |  | $ | 81,874 |  |  | $ | 18,140 |  |  | $ | 28,562 |  |  | $ | 25,347 |  |  |  |  | $ | 153,923 |
(1) | Adjusted cost of sales excludes $4.2 million and $5.5 million of adjustments related to acquisition and restructuring costs as described in more detail within the reconciliation presented below, respectively, for the years ended March 1, 2025 and March 2, 2024.
(2) | Adjusted SG&A expenses excludes $11.5 million and $3.0 million of adjustments related to acquisition and restructuring costs and impairment expense as described in more detail within the reconciliation presented below, respectively, for the years ended March 1, 2025 and March 2, 2024.
(3) | Adjusted Other (income) expense, net excludes $4.7 million of NMTC benefit recorded for the year ended March 2, 2024 as described in more detail within the reconciliation presented below.
The following table presents the reconciliation of adjusted EBIT to income before income taxes, the nearest measurement under GAAP:
(In thousands) |  | 2025 |  | 2024 |  | 2023
Segment Adjusted EBIT |  | $ | 167,203 |  |  | $ | 175,185 |  |  | $ | 153,923 |
Corporate and Other expenses |  | (32,772) |  |  | (35,454) |  |  | (29,642) |
Segment acquisition-related costs (1) |  | (4,529) |  |  | — |  |  | — |
Segment restructuring costs (2) |  | (3,535) |  |  | (8,496) |  |  | — |
Impairment expense (3) | (7,634) |  |  | — |  |  | — |
NMTC settlement gain (4) |  | — |  |  | 4,687 |  |  | — |
Interest expense, net |  | (6,159) |  |  | (6,669) |  |  | (7,660) |
Earnings before income taxes |  | $ | 112,574 |  |  | $ | 129,253 |  |  | $ | 116,621 |
(1) | Segment acquisition-related costs include: •Transaction costs related to the UW Solutions acquisition. •Integration costs related to one-time expenses incurred to integrate the UW Solutions acquisition. •Backlog amortization is related the value attributed to contracting the backlog purchased in the UW Solutions acquisition. These costs were amortized in SG&A over the period that the contracted backlog was shipped. •Inventory step-up is related to the incremental cost to value inventory acquired as part of the UW Solutions acquisition at fair value. These costs were expensed to cost of goods sold over the period the inventory was sold.
(2) | Segment restructuring charges related to Project Fortify. Refer to Note 18.
(3) | Impairment expense on intangible assets in the Architectural Metals Segment. Refer to Note 6.
(4) | Realization of a NMTC benefit which was recorded in other income (expense), net. Refer to Note 10.
The following table presents the capital expenditures, depreciation and amortization and identifiable assets by reportable segments and the reconciliation to amounts reported for GAAP:
(In thousands) |  | Architectural Metals |  | Architectural Services |  | Architectural Glass |  | Performance Surfaces |  | Corporate and Other |  | Total
Fiscal 2025 |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 3,333 |  |  | $ | 7,522 |  |  | $ | 13,782 |  |  | $ | 9,479 |  |  | $ | 1,477 |  |  | $ | 35,593 |
Depreciation and amortization |  | 16,471 |  |  | 3,978 |  |  | 12,274 |  |  | 9,085 |  |  | 2,800 |  |  | 44,608 |
Identifiable assets |  | 343,553 |  |  | 179,311 |  |  | 213,067 |  |  | 345,034 |  |  | 94,304 |  |  | 1,175,269 |
Fiscal 2024 |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 4,733 |  |  | $ | 3,166 |  |  | $ | 12,142 |  |  | $ | 16,896 |  |  | $ | 6,243 |  |  | $ | 43,180 |
Depreciation and amortization |  | 19,226 |  |  | 4,011 |  |  | 11,955 |  |  | 3,040 |  |  | 3,356 |  |  | 41,588 |
Identifiable assets |  | 363,512 |  |  | 131,651 |  |  | 208,651 |  |  | 83,731 |  |  | 96,519 |  |  | 884,064 |
Fiscal 2023 |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 11,432 |  |  | $ | 3,683 |  |  | $ | 5,613 |  |  | $ | 13,474 |  |  | $ | 10,975 |  |  | $ | 45,177 |
Depreciation and amortization |  | 19,386 |  |  | 3,953 |  |  | 11,964 |  |  | 3,088 |  |  | 4,012 |  |  | 42,403 |
Identifiable assets |  | 426,946 |  |  | 141,840 |  |  | 207,730 |  |  | 69,035 |  |  | 69,814 |  |  | 915,365 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | The following table presents net sales, based on the location in which the sale originated, and long-lived assets, representing property, plant and equipment, net of related depreciation, by geographic region.
(In thousands) |  | 2025 |  | 2024 |  | 2023
Net Sales |  |  |  |  |  |
United States |  | $ | 1,258,887 |  |  | $ | 1,295,436 |  |  | $ | 1,301,168 |
Canada |  | 85,417 |  |  | 101,055 |  |  | 120,565 |
Brazil |  | 16,690 |  |  | 20,451 |  |  | 18,963 |
Total |  | $ | 1,360,994 |  |  | $ | 1,416,942 |  |  | $ | 1,440,696 |
(In thousands) |  | March 1, 2025 |  | March 2, 2024 |  | February 25, 2023
Long-Lived Assets |  |  |  |  |  |
United States |  | $ | 261,457 |  |  | $ | 235,398 |  |  | $ | 239,847 |
Canada |  | 4,984 |  |  | 6,345 |  |  | 6,330 |
Brazil |  | 1,698 |  |  | 2,473 |  |  | 2,690 |
Total |  | $ | 268,139 |  |  | $ | 244,216 |  |  | $ | 248,867 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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