XML 32 R16.htm IDEA: XBRL DOCUMENT
v3.25.1

Goodwill and Other Intangible Assets | 12 Months Ended
--- | ---
Mar. 01, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill Refer to Note 1 for a description of the Accounting Policy related to Goodwill. Goodwill represents the excess of the cost over the net tangible and identified intangible assets of acquired businesses. We evaluate goodwill for impairment annually as of the first day of our fiscal fourth quarter, or more frequently if events or changes in circumstances indicate the carrying value of goodwill may not be recoverable, as described in Note 1. Based on the impairment analysis performed in the fourth quarter, estimated fair value was in excess of carrying value at all of our reporting units. The carrying amount of goodwill attributable to each reportable segment was:
(In thousands) |  | Architectural Metals |  | Architectural Services |  | Architectural Glass |  | Performance Surfaces |  | Total
Balance at February 25, 2023 |  | $ | 90,137 |  |  | $ | 3,031 |  |  | $ | 25,301 |  |  | $ | 10,557 |  |  | $ | 129,026 |
Foreign currency translation |  | 49 |  |  | 7 |  |  | 100 |  |  | — |  |  | 156 |
Balance at March 2, 2024 |  | 90,186 |  |  | 3,038 |  |  | 25,401 |  |  | 10,557 |  |  | 129,182 |
Goodwill acquired |  | — |  |  | — |  |  | — |  |  | 107,826 |  |  | 107,826 |
Foreign currency translation |  | (852) |  |  | (117) |  |  | (264) |  |  | — |  |  | (1,233) |
Balance at March 1, 2025 |  | $ | 89,334 |  |  | $ | 2,921 |  |  | $ | 25,137 |  |  | $ | 118,383 |  |  | $ | 235,775 |
Intangible assets Indefinite-lived intangible assets We have intangible assets for certain acquired trade names and trademarks which are determined to have indefinite useful lives. We test indefinite-lived intangible assets for impairment annually at the same measurement date as goodwill, the first day of our fiscal fourth quarter, or more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired as described in Note 1. Based on our annual analysis and changes to our strategic branding in the 4th quarter of fiscal 2025, we recorded impairment expense of $7.6 million related to trademarks within Selling, general and administrative expenses (SG&A) in the Architectural Metals Segment. Definite-lived intangible assets Long-lived assets or asset groups, including intangible assets subject to amortization and property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of those assets may not be recoverable, as described in Note 1. In fiscal 2025, $79.7 million of intangible assets were acquired as part of the UW Interco, LLC (UW Solutions) acquisition. The gross carrying amount of our intangible assets and related accumulated amortization was:
(In thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Impairment Expense |  | Foreign Currency Translation |  | Net
March 1, 2025 |  |  |  |  |  |  |  |  |  |
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 134,402 |  |  | $ | (56,193) |  |  | $ | — |  |  | $ | (2,655) |  |  | $ | 75,554 |
Other intangibles |  | 66,832 |  |  | (31,768) |  |  | — |  |  | (1,197) |  |  | 33,867 |
Total |  | 201,234 |  |  | (87,961) |  |  | — |  |  | (3,852) |  |  | 109,421 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |
Trademarks |  | 26,865 |  |  | — |  |  | (7,634) |  |  | (235) |  |  | 18,996 |
Total intangible assets |  | $ | 228,099 |  |  | $ | (87,961) |  |  | $ | (7,634) |  |  | $ | (4,087) |  |  | $ | 128,417 |
March 2, 2024 |  |  |  |  |  |  |  |  |  |
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 86,798 |  |  | $ | (53,200) |  |  | $ | — |  |  | $ | 246 |  |  | $ | 33,844 |
Other intangibles |  | 37,505 |  |  | (32,250) |  |  | — |  |  | 150 |  |  | 5,405 |
Total |  | 124,303 |  |  | (85,450) |  |  | — |  |  | 396 |  |  | 39,249 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |
Trademarks |  | 26,851 |  |  | — |  |  | — |  |  | 14 |  |  | 26,865 |
Total intangible assets |  | $ | 151,154 |  |  | $ | (85,450) |  |  | $ | — |  |  | $ | 410 |  |  | $ | 66,114 |
Amortization expense on finite-lived intangible assets was $8.9 million, $4.9 million and $4.2 million in fiscal 2025, 2024 and 2023, respectively. All amortization expense is included within selling, general and administrative expenses. Estimated future amortization expense for finite-lived intangible assets is:
(In thousands) |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | 2030
Estimated amortization expense |  | $ | 5,236 |  |  | $ | 5,236 |  |  | $ | 5,184 |  |  | $ | 4,968 |  |  | $ | 4,928 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration