10-K
Annual Report
AZZ Inc.
AZZ
NYSE
CIK: 8947
File #: 1-12777
Balance Sheet
62 line items · 2 periods
XBRL
| Item | Feb 28, 2025 | Feb 29, 2024 |
|---|---|---|
Assets | ||
Current assets: | ||
Cash and cash equivalents | 1,488,000 | 4,349,000 |
Trade accounts receivable, net of allowance for credit losses of $419 and $2,347 at February 28, 2025 and February 29, 2024, respectively | 135,149,000 | 142,246,000 |
Other receivables | 12,932,000 | 15,599,000 |
Inventories | 112,313,000 | 117,656,000 |
Contract assets | 106,507,000 | 79,335,000 |
Prepaid expenses and other | 7,055,000 | 7,814,000 |
Total current assets | 375,444,000 | 366,999,000 |
AIS Joint Venture | 300,404,000 | 290,260,000 |
Property, plant and equipment, net | 592,941,000 | 541,652,000 |
United States | 574,332,000 | 522,693,000 |
Canada | 18,609,000 | 18,959,000 |
Right-of-use assets | 25,951,000 | 23,739,000 |
Goodwill | 703,863,000 | 705,468,000 |
Operating Segments - Metal Coatings | 176,070,000 | 177,675,000 |
Operating Segments - Precoat Metals | 527,793,000 | 527,793,000 |
Deferred tax assets | 3,620,000 | 5,606,000 |
Intangible assets, net | 421,850,000 | 445,435,000 |
AIS Joint Venture | 99,379,000 | 98,169,000 |
AIS Joint Venture - Discontinued Operations, Disposed of by Sale - AZZ Infrastructure Solutions | 99,400,000 | — |
Other assets | 4,053,000 | 8,437,000 |
Total assets | 2,227,101,000 | 2,195,505,000 |
Operating Segments - Metal Coatings | 555,095,000 | 553,505,000 |
Operating Segments - Precoat Metals | 1,548,377,000 | 1,500,122,000 |
Operating Segments - Infrastructure Solutions | 99,379,000 | 98,169,000 |
Corporate | 24,250,000 | 43,709,000 |
AIS Joint Venture | 494,932,000 | 463,835,000 |
Liabilities and Shareholders' Equity | ||
Current liabilities: | ||
Accounts payable | 106,471,000 | 88,001,000 |
Income tax payable | 602,000 | 172,000 |
Accrued salaries and wages | 37,742,000 | 30,823,000 |
Other accrued liabilities | 68,428,000 | 68,651,000 |
Lease liability, short-term | 7,749,000 | 6,659,000 |
Total current liabilities | 220,992,000 | 194,306,000 |
AIS Joint Venture | 155,585,000 | 122,762,000 |
Long-term debt, net | 852,365,000 | 952,742,000 |
Lease liability, long-term | 19,012,000 | 17,827,000 |
Deferred tax liabilities | 42,819,000 | 38,567,000 |
Other long-term liabilities | 46,418,000 | 57,572,000 |
Total liabilities | 1,181,606,000 | 1,261,014,000 |
AIS Joint Venture | 290,102,000 | 251,820,000 |
Mezzanine equity: | ||
Series A Convertible Preferred Stock, $1,000 par, shares authorized 100,000; 240 shares issued and outstanding February 29, 2024; aggregate liquidation preference $312,520 at February 29, 2024 | 0 | 233,722,000 |
Shareholders' Equity: | ||
Common stock, $1 par value; 100,000 shares authorized; 29,913 and 25,102 shares issued and outstanding at February 28, 2025 and February 29, 2024, respectively | 29,913,000 | 25,102,000 |
Capital in excess of par value | 418,004,000 | 103,330,000 |
Retained earnings | 609,158,000 | 576,231,000 |
Accumulated other comprehensive loss | (11,580,000) | (3,894,000) |
Total shareholders’ equity | 1,045,495,000 | 700,769,000 |
Common Stock | 29,913,000 | 25,102,000 |
Capital in Excess of Par Value | 418,004,000 | 103,330,000 |
Retained Earnings | 609,158,000 | 576,231,000 |
Accumulated Other Comprehensive Income (Loss) | (11,580,000) | (3,894,000) |
Foreign Currency Translation Gain (Loss) | (10,329,000) | (7,628,000) |
Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net of Tax | (388,000) | 1,418,000 |
Net Actuarial Gain (Loss), Net of Tax | (587,000) | (184,000) |
Interest Rate Swap, Net of Tax | (265,000) | 2,533,000 |
Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary | (11,000) | (33,000) |
Total liabilities, mezzanine equity and shareholders' equity | 2,227,101,000 | 2,195,505,000 |
AIS Joint Venture | 494,932,000 | 463,835,000 |